and mark carney is the father of four daughters. lets out one goes on to bea daughters.governor of a central bank!” wonder if he would be happy with that! we will go through some papers later and talk about betting. still to come... we'll be getting the inside track on the world of luxury watches with the world's oldest watchmaker — vacheron constantin. you're with business live from bbc news. yes, we are talking football and also, beer. greene king is posted its latest results. pre—tax profits falling more than 11%. the chain has blamed bad weather, rising competition and falling consumer spending but said the figures are in line with this expectation. joining us now is the leg it. what is happening at greene king? it isa king? it is a massive company running 3,000 pubs, hotels and restaurants up 3,000 pubs, hotels and restaurants up and down the country. one problem is the business is changing. people don't frequent old—fashioned pubs as much as they used to. the number of drink led pubs is declining. the money is in pubs serving food. it is doing fairly well that, ope

it is a strongly worded warning from mark carney. the contract needs to be locked in. as the general tone of the financial stability review report today? i see they judged u.k. domestic ands to be standard requirement for banks at 1%. what was the overall tone? david: they said without brexit, things are pretty solid. that is where most of the risks come from. the bigger domestic risks. the flight concerns about forolitical risks, trade example, which isn't very pronounced and the different rewards going on, but business sentiment, that could have an effect. mark: nothing on monetary policy ? that was big yesterday. .he new member our things slightly dovish? david: certainly more dovish than his predecessor. he has one more week to get his secondary hike area mark: jonathan haskell, we will hear much more about him. vonnie: it is time for a bloomberg exclusive. the prime minister of greece said his budget would meet targets, but it is up to greece to say how with international predators. we spoke with him during a visit to london. >> the most important thing today is th

in the meantime, we are listening to governor mark carney.re on the european union to remove the threat that brexit poses to pound-derivative contracts. the boe noted in a report that the u.k. has announced steps towards a solution, including a pledge to grant interim permissions if necessary, but highlighting that the eu has not reciprocated, so there is pressure on the eu to do so. the boe has been sounding the alert afte about the issue of cross-border contracts. this is bloomberg. ♪ tom: "bloomberg surveillance" from london, new york. good morning. first word news. taylor riggs. taylor: the boe has stepped up pressure on the eu on derivative contracts. unless the eu puts in place temporary workarounds, firms could find themselves unable to service contracts from derivatives to insurance policies. the u.k. central-bank highlighted the issue in its financial stability report. 29 trillion towns of unclear derivative contracts are at risk. you can watch the news on yource on live terminal. an organizer for senator bernie longtimeas beate

not to be confused with mark carney, chair of the bank of england, the head of network rail...f services have been delayed, cancelled. the interest and you —— they introduced a new temporary timetable... people at home at theirjobs at risk. it's really bad timing on this, especially as, if you read it, he's ona especially as, if you read it, he's on a salary of £827,000 a year. it's not relevant to the honours, ijust entering out out there stop look absolutely. i'm not sure they have the right target. franchises, brought injust the right target. franchises, brought in just afterjohn major's time. it's on by network rail and i think it was the franchises, people or groups like northern rail... the train operators... they're the ones being blamed earlier in the week la st being blamed earlier in the week last week, as was chris grayling committee very great transfer secretary. now they have shifted focus because he's got this huge salary and they have shifted focus because he's got this huge salary and they're saying, 0k, because he's got this huge salary and they're saying, ok,

in a few months it won't make a big difference >> mark carney seemed to indication early may there was the possibility of a rate hike by the end of this year. that's a case.on't seem to think kind of outliers >> yeah. our reason is we think the inflationary pressure is subdued. we've seen weaker wage growth the last few months. we don't see inflation staying where it is. we see it coming down despite higher oil prices. that's mainly because the past depreciation of sterling is waning sharply demand is not particularly strong in the uk economy the savings rate is low. employment has done very well, but that also means that the scope for further forward in the unemployment rate is much produced the potential growth to outperform is pretty low >> diminishing rapidly, it sounds like. thank you very much. he was talking there about brexit uk prime minister theresa may secured approval for the government's eu withdrawal bill. that clears the way for this key piece of brexit related information to become law. in the house of commons the vote was 319-303 to approve the government's version of

the microphones are being moved in place, one for the government, mark carney, one for the chancellorabout this building is it was funding it taxing christian minorities in the day when you are allowed to discriminate, the church of england supporters did not have to pay this special tax, and conformist and unmentionable minorities in the christian tradition did. that was a way that was used back in the 18th century to raise the building of the mansion. it isa raise the building of the mansion. it is a splendid building, a palladian style, architect george that. here we go for the introductions. philip hammond,. motherboard layer, ladies and german, leicester, this dinner was cancelled at respect to the tragedy that was unfolding at the rental power. tonight, ithoughts that was unfolding at the rental power. tonight, i thoughts are with the victims, grenfell tower. the twin commitments to justice for the victims and regulatory change to ensure that such a tragedy can never happen again. as the lord mayor said, we rememberjo cox, whose death cast a long shadow over this event two years

he will be speaking after the governor of the bank of england, mark carney. the later time of 11:16pm in meet the author, this weekjim naughtie speaks to nikesh shukla about his new book the one wrote destiny. that's all ahead on bbc news. but now it's time for sportsday. hello, i'm olly foster, live in moscow. this is sportsday at the world cup. these are your headlines: it's "allez les bleus" — france are through to the last 16, but peru are simply blue. they'll be going home early. the socceroos keep themselves alive. another var penalty sees them draw aaginst denmark. join me, david ornstein, for the latest from the england camp, where all the talk today has been about a lea ked tea m all the talk today has been about a leaked team sheet. i'm sarah mulkerrins at the bbc sport centre. also coming up on the programme: bat dominates ball again, as england start chasing australia's 310 in the latest 0di at durham. and no playing second fiddle for stradivarius, as he wins the ascot gold cup. plenty to pack in tonight, but we'll start with events it's day eight

mark carney said the risk of disruption to the key financial services sector had receded.uk banking system could continue to lend to uk households and businesses even in the event of a disorderly cliff edge brexit, however unlikely that maybe. large employers are flexing their muscles. car—makers are leading the charge. with nine months until brexit day, the calls for clarity are becoming louder. kamal ahmed, bbc news. in the united states, one of the country's supreme court judge has announced his retirement, paving the way for president trump to change the political balance at the summit of the country's legal system. judge anthony kennedy has been a key swing vote on the court for nearly three decades, backing issues such as gay rights and abortion. 0ur north america editor jon sopel is in washington. he explained the significance of the move. this is a huge day for us politics, with the decision byjustice kennedy to stand down. roughly speaking, the supreme court through the last decade has been split, four liberals, four conservatives, and as you say, he has been the

that is thinking of mark carney who is looking in his crystal ball and thinking, if we do do this in? absolutely, we had that bad data but there is one good bit of data and that is wages are now outstripping inflation does help the bank of england when it comes to an increase in people's debt payments. but if england stays in the world cup! yes, that will help everything! that will help the uk economy! we will be spending more in the bars and going out to eat. james wilby back, he has more work to do this morning. still to come... racing to the finish line could mean substantial prize money. we'll look at the business of horse racing ahead of the royal ascot on tuesday. you're with business live from bbc news. first, let's dig deeper into that subject, the uk economy. the uk is set for the weakest year of gdp growth since 2009, when the economy was in the throes of the financial crisis. that's according to a report out today from the british chambers of commerce. our economics editor, kamal ahmed, joins us now with more on this. soa so a downgrade on annual forecasts, but they expect

mark carney said the risk of disruption to the key financial services sector had receded.tem could continue to lend to uk households and businesses even in the event of a disorderly cliff edge brexit, however unlikely that maybe. large employers are flexing their muscles. car—makers are leading the charge. with nine months until brexit day, the calls for clarity are becoming louder. kamal ahmed, bbc news. 0ur deputy political editor john pienaar is at westminster. not long to go before that big cabinet summit on the way ahead on brexit, and kamal mentioned calls for clarity. what do you read the current cabinet position? preserving even a veneer of unity has gone from a near impossible mission to a lost cause for theresa may. today in the commons she insisted again that we leave the eu, the single market, the customs union. but her business secretary has told company bosses that britain should stay some sort of customs relationship, trading relationship, single market relationship, single market relationship with business after brexit and keep open special access for eu mi

the nine—member mpc was split 6—3, with bank governor mark carney leading the group who voted to hold's chief economist, joined two other monetary policy committee members in voting to raise rates to 0.75%. the last time three people "dissented" from the overall view, injune 2017, rates rose the following november. joining us now is sarah hewin, chief economist, europe, standard chartered you reckon the same pattern, we will see rates go up in august? we think rates will probably go up in august. if you look at what the monetary policy committee said today, they talked about strong household spending, strong confidence, employment doing well, business sentiment improving and even the global economy, they expect, will be a strong source of the man in future months. they indicated that inflation was likely to rise over the next couple of months because of higher oil prices and the weaker pound. all these factors together suggest they are limbering up for a rate hike which will be on the 2nd of august at the next meeting. sterling is weak, i know but it's not getting any weaker, so i wou

committee, has expressed her disappointment in a letter to the governor of the bank of england, mark carney her comments come after two men were appointed to senior roles. it will seem that every has a reasonable amount of growth in the economy, interest rates will go up, making the pound more valuable. thus we see the dollar up against the pound. —— pound against the dollar. the dax is bouncing back from short falls because of a successful eu summit over the last few days in the migration question. that's all the business news. i'll be back in about an hour with more. for decades, the people of central show you have requested that ayers rockis show you have requested that ayers rock is not claimed. in october the rope that makes it possible will be removed. the bbc reporter well then we must discover that her family played a role in taking ownership of bilirubin. uluru, also known as ayers rock, dates back more than 500 million years. for decades, there's been a bitter row over the controversial practice of climbing the rock. there are signs here at the base of the climb clearly saying, pl

mark carney says time is running out to remove the threat brexit.ssue could cause havoc in financial markets when britain leaves the block next march. it isk. has announced working towards a solution but the eu has not reciprocated. apple and samsung have reached a settlement in various patent battle. terms of the accord were not immediately disclosed. the string of lawsuits started in 2011 when apple sued samsung for allegedly copying the design of the iphone. that follows a retry in may. global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. heart.na degen this is bloomberg. ♪ ahead, predicting massive growth at of asian the next year years. jeff green joins us in half an hour's time. kathleen: the pboc move to ease credit policy according to our next guest. this is bloomberg. ♪ yvonne: the chinese currency has effectively seen a slide. we saw the russian to treasuries as well, giving desk given these given thesens -- trade tensions. received this trade rally right now

there is a lot on the political front that mark carney is kind of continuing to struggle with becauseer what he says about how he tries to portray the outlook for growth and inflation, it ultimately comes back to theresa may and the conservative party and what the next steps are in political to the limits. ramy: trade and central banks in focus, adam haigh. don't forget to check out our gtv library for the charts you just saw. that is gtv on your bloomberg terminal. the week ahead on wall street will bring more earnings and economic data and plenty of headline risk especially for oil. will there be a clash or will there be an agreement when opec members meet? su keenan is here with more. su: it is about headline risk for oil and will the trade war and other concerns weigh on stocks? let's go to the snapshot. we got heavy volume down friday, sets up a question for monday. we don't have a lot of options. you saw bonds jump as demands for risk receipts. let's look at the earnings th coast there is a big parade. federal express reports on the 19th, calling for tariffs on china goods, coun

bank of england governor mark carney said that time is running out to remove a brexit threat to as muchs $127 trillion of derivative contracts. contract continuity issue could cause havoc and financial markets when britain leaves the mark in march. so far, the eu has not reciprocated. government's temporary regime would provide a temporary solution. provided their , andion to these issues the unlikely event of a disorderly brexit. jenna: they will stick with the financial -- they told bloomberg there will be no return to the spending habits that triggered one of the biggest financial meltdowns and the continent's history. what happened in greece in previous years and let us the bankruptcy was a huge waste of money, corruption, and irresponsibility in the manage a public finance. we should not go back to that and as far as i'm concerned, i will do whatever i can to not go back to that tragic period. theermany crashed out of diesel world cup. -- out of the fifa world cup. thatny finished bottom of group after sweden beat mexico. five-time champions brazil into their final game in danger b

. >> bank of england governor mark carney has unveiled another overhaul of the central bank our.he says the boe needs to adapt to unprecedented changes from the global economy. the treasury will inject capital into the back and the boe will have the ability to take on greater risks if necessary to keep the banking system and the economy on an even keel. u.s. supreme court has boosted digital privacy rights, justices ruled law-enforcement officials need a warrant to get mobilephone tower records. they show someone's location over and a send a time. prosecutors seek phone location data from telecom companies in tens of thousands of cases per year. president trump telling republicans in congress to quit wasting their time on immigration, the president says there is no sense in trying to pass a bill until the party has a filibuster proof majority in the senate. the house delay a vote on immigration measures until next week. one bill lost in the house yesterday. they trump administration wants to privatize the mortgage giant m&a and freddie mac, they have been under government conserv

dollars of derivatives contracts and insurance liabilities could go unserviced, that is the word of mark carneygovernor of the bank of england. there could be havoc and this is not dealt with, yes? >> yes, it is a strong warning for the european union that they need to put their house in order about this derivatives issue. >> what was the general tone via the financial stability review report? the overall tone today? sayinge -- >> they are -- i think there is recently saying, that without exit, things are pretty silent. that is where most of the risk comes from, the biggest domestic risk. >> the u.s. supreme court as upholding president trump's travel been in a 5-4 vote, giving trump legal victory on an issue that is half the fun his -- helped define his presidency. >> the supreme court did allow the administration to continue to enforce the travel ban, which currently prohibits entry from seven countries. it is important to know that the supreme court did not accept the administration's suggestion that they should ignore the president's comments, which suggested that the ban had been adopted f

francine: what does it mean for mark carney's planning? i have a viewer question. those questions on tv . do you think the vote will change? >> i don't think we will see much of the change in the vote. in reality they made another horrible error. the market saw 100% prospect of her rate rise. it never made any sense to me. there was no data to sustain it. , nowthey had the backtrack looking very weak. if anything right now, the vote should probably be for a cut, not that the committee would do economy is not doing well. there is no argument whatsoever for a rate rise. the problem they have is if the economy starts to tank, what do they do? they have very few air rose in their quiver. it does not look that mays government can do anything. i think that is a real concern going forward. they can't cut by much. they will probably have to go negative. qe,ill be back to lots of so there is great concern about fiscal and monetary policy in the u.k. because of the chaos going on. based on thising craziness around brexit, and that is a hard and to do. the risks all look

came ahead of speeches by the chancellor philip hammond and the governor of the bank of england mark carneynsion house in the city of london. our correspondent andy verity is at the mansion house in the city. let me ask you about the speech. what are the signals we are expecting to get and what are the tra nsferee expecting to get and what are the transferee suggesting the chancellor may be going to say? well, it is all to do whether taxes are going to rise or not. i think he may confirm they make in order to find this extra boost for the nhs. just to you a word about this occasion, every year, it has been traditionally opposed for assumptions banquet, a five course meal for all the rates and goods, certainly the ridge of the city, now until last year, there we re the city, now until last year, there were happy to be public about it, to tell everyone what they were eating, to have cameras in, to film them sitting down and eating his magnificent banquet. but this year, they are not. last year it was cancelled because it was in the wake of the rental tragedy. and there is some sensitivity on

the governor of the bank of england, mark carney.as a huge moorland fire continues to spread in greater manchester. firefighters have been battling the blaze on saddleworth moor since sunday evening and described it as major incident. fire crews also say it‘s an enormous challenge due to the sheer size of it. residents describe being drowned by the thick black smoke and had difficulty breathing. we have a large area that has been affected by fire. given the size and the scale of that area, what we‘ve had to do is break that into smaller areas to deal with, which we call sectors. we‘ve currently got two active sectors where we have 25 firefighters at each area, dealing with that situation. there are pockets of fire all over, so what we have had to do this morning is an assessment of the scene, in which we‘ll be using some air assets to gauge a full assessment, but we are still dealing with the fire situation. it‘s been tremendously difficult and firefighters have worked tremendously hard in heat, smoke and really difficult conditions,

i'm not sure he knows better than mark carney, but sterling higher in the session.ense ofto give you a what we saw in the one-they move. the turkish lira developments towards the election, under pressure in the session by 2.5%. the colombian peso the outperform her. i'm looking for the turkish lira. 1.5%. there you go. joe: oil and gold down. look at oil. was in the low 70's, then some anxiety building on the whethersuppliers about the prices were getting too high . now in the selling mode. has some great stories on bloomberg about the bottleneck in taxes. filling up the capacity to ship it. gold down .5%. those are today's market minutes. scarlet: for more on today's jobs report and market moves, let's bring in the head of portfolio strategy forever core r ever court. yields on italian bonds blew out completely. why did we get such an outsize reaction when it was clear there was not going to be in italy exit? >> it would take time, but euro assets are less attractive en the uncertainty going forward. the dollar was bid significantly. inflation expectations go down.

passengers who suffered enormous destruction this week will be incredulous, possibly furious to see mark carneysengers have seen disruption in recent weeks of the new timetable is better down, things are improving but some commuters may feel that this public reward for the boss of network rail might bea reward for the boss of network rail might be a bit premature or even if he has devoted many years of service to the railway industry. the queen‘s birthday honours list has recognised the achievements of more than a thousand people across the uk. among them the former liverpool manager who received the knighthood. player, manager, and i figure who received the knighthood. player, manager, and ifigure who gave huge support to the families, he says he‘s hugely proud to receive a knighthood. to be getting the accolade and being awarded is very humbling. imagine your husband bought a gold necklace and come christmas give it to someone else. ama christmas give it to someone else. am a thompson there comes a datum, that most honours have gone to people who work in communities, people who work in commun

manus: i reflect back on what mark carney said yesterday afternoon. he is morning on the trade wars. the ceo of schneider electric said businesses are worried about their costs as they look down the pipe -- excused upon excusenyder -- -- the pun for schneider. you have a current sentiment index, and you have the future sentiment index. you are seeing here that the future is turning lower. our sentiment indexes are a president indicator of more pain to come. gaphave a flashing light, a between expectations on the top -- the current on the top, and expectation is widening. we have not seen a divergence like this since the crisis in 2008, hence why we have seen moves on the likes of the s&p, down the 13th day in a row, the longest losing streak on record. financials plummeting into the close. the is the day where markets will decide how much the banks can pay out. there is a cauldron of issues to be gathered up together, china, larry kudlow, like heiser, and trump and the chinese. anna: the weakness we saw late in session yesterday was driven by the kudl

what will mark carney have to say about brexit? what is yet to say about the outlook for the u.k.ion? did we avoid the beware for most of the program? later, the head of personal investing at lng joins the european open seen. this is bloomberg. ♪ anna: good morning everybody. it is 7:19 here in london. a: 19 in paris or berlin. 8:19 in paris or berlin. inhave seen a flat session the asian equity market. let's get bloomberg business flash with juliette saly. juliette: uber has won a 15 market based very licensed to operate in london after convincing a court it has shaken off its gung ho attitude of the past. shejudge criticized what called the previous managements desire to grow the business, come what may. the 15 month reprieve is less than the 18 month approval they originally sought. morale has steady at deutsche bank. the firm's annual internal survey shows that 57% of employees are committed to the lender. that is unchanged from last year, which followed years of decline. staff sentiment has been tested by three straight annual losses in a series of management changes. car pri

did i say mark carney? you did! saying it. i have been fudging it in between. like chilli con carne. that is french for ticket, that would work carnet! buying mobile phones in schools. they are about to introduce a law in france, so—called detox law, kids won't be able to take mobile phones into schools under the age of 15. an absolute ban. the french are quite good at banning things, they quite like a ban in france. there is a yes, no. yes, absolutely, they should be reading books and climbing trees and doing that kind of stuff! essentially inordinate from the daily mail and the mirror columnist said... it is out of control. the guy on the right, this guide, professor of education at the open university has said, ifound education at the open university has said, i found myself education at the open university has said, ifound myself swayed, the point is, that is where kids live, in this technological world. the key thing is that schools should use it. it reminded me of a wonderful woman who i met a few times and kn

criticising the fact that mark carney, the chief of network rail has received one especially after allalk about that with simon in a moment. the front page of the sun claiming the back ‘s are furious that there is gossip online suggesting that they have marriage problems —— the beckhams. they have denied they are splitting up and getting a divorce. the guardian, a picture of anthony bore down on the front page. he has died at the age of 61. the lead story is arming advertisements. —— anthony bourdain. targeting stressed teenagers offered after taking gcse exams. the army accused of targeting them an times. simon fanshawe, good morning. the death of anthony bourdain. something you were looking at.” didn't spot that on the front page. the stress connection. 0bviously kate spade killing herself earlier on this week, the famous handbag designer. anthony bourdain, my nephew is a chef. he gave me kitchen confidential when it came out, the book that anthony bourdain made him famous. the thing about him, if you read the book, he is a trailblazing, standing on tables, shouting, kind of... he wa

your name has come up as a potential replacement for mark carney as b.o.e. governor.interested in that? raghuram: i have said repeatedly. i'm very happy in my current job. no comments on that but i'm perfectly happy where i am. reporter: raghuram rajan from the r.b.i. speaking to us live from singapore. ish? rishaad: coming up, tim clark talking about air faresd more. more from that interview on the way. ♪ rishaad: air fares will have to rise due jet fuel costs. tim clark telling us earlier how the airline is dealing with swinging prices. tim: prices rising has done damage to our bottom line. obviously the costs are rising. 27% of our total costs. but not as bad as it used to be. at one point it was 31% of our costs. we're managing it as best as we can. air fare also have to rise to make up part of that cost. there were issues. that affected the global economy in a number of ways. we're looking for an equilibrium which should be about $50. we can live with that. eporter: air fares rising. -- being reintroduced? tim: i'm sorry? it is already in. we can move that elemen

this is something mark carney refers to almost every press conference. it shows that finally the rate of growth of wages is faster than inflation. how does that explain the decision? >> in some sense it is interesting how the boe is the labor market is showing some signs of wages going up. a little bit like the u.s. there is enough for central bankers to say this is telling me we have to do something. alix: how much re-rating do we need to see in the gilt market. >> we have brexit simmering in the background. we have this more structural issue, but generally speaking up to this point more recently it has been the brexit issue coming back, but the boe is standing firm and saying we are confident that we can have the door open for a hike in august. david: what do they see in the economic data be on the wage numbers? , the boe is stock between moving ahead and holding rates lower for longer. is u.k. economy and boe trying to figure if they are more associated with the u.s. model, or go slower like the ecb. alix: what do think about the ford guidance they qe

we go to our chief asian economics correspondent in mark carney who joins us now -- enda curran joining. this seems to be hitting consumers in particular. doing have any indications that it could disrupt the global economy? >> i do feel like we are heading into a more dangerous phase, pretty close deadline there in terms of the first tariffs being implemented. and feel that we are also talking about a multiple order basket of goods which would hit a much broader swath of the economies, in particular the u.s. there is no doubt that both sides are going to the wire on this and there was no sign of any significant breakthrough that would lead to a truce in the trade war. yvonne: the u.s. is basically targeting almost every product exports,a actually which is quite interesting because they don't really have as much a munition to do so? enda: like you mentioned, they could heighten their terrorist. they don't -- their riffs, they don't really have to stop at 25%. we have seen them do this before when they had political tensions between korea and japan, targeting korean businesses, telling to

david: even mark carney made the point this morning, it is not so much the tariffs in and of themselveshat big, but it potentially affects business confidence and investments. are we seeing that yet? ian: i think we are seeing investment indicators here in the united states. we think you are seeing the synchronized growth and we have seen the china growth slowdown and euro growth slowdown and if you add this kind of tariffs uncertainty, you get this investment confidence starting to ebb away and we are seei that in some of the durable goods numbers. it is actually starting to slow and without the boost you are getting from the fiscal easing in the united states, i think we would be looking at a very much weaker u.s. environment. tariffs hit u.s. harder than they do the rest of the world. just about twice as much comes off gdp than the world gdp. alix: usually china will get hit harder. i want to give a last word to you, stephanie. when we wind up seeing china's response, what is left in china's toolbox that worries you when it comes to trade and economic growth? china --: in terms of lo

now six members, led by the split is now six members, led by the governor of the bank of england, mark carneyrformance in the first three months of the year, affected by the weather and some other factors, and secondly that the august rate rise is now more likely than was initially expected. that doesn't mean definitely. the nbc doesn't mean definitely. the nbc doesn't really deal indefinite. —— deal indefinite. in june doesn't really deal indefinite. —— deal indefinite. injune 2017, when there was a split, the rates then went up the following november. if things are bouncing back, i now think august is looking more likely than people expected. should the average consumer take this as forward guidance that rates could be going up imminently? yes, i think that is probably what viewers can take out of what the organisation has said today. the bank didn't really focus on many of the negatives about the economy. it said that household spending was improving, the momentum in the economy was improving and the bank uses interest rates to bring some of that momentum out of the economy because that is

mark carney has unveiled another overhaul. he said the boe needs to adapt to unprecedented changes.ake on greater risk if necessary. malaysia, the prime minister will try to recoup the money lost in the troubled investment firm. they were paid to goldman sachs. he spoke. government decided the money was not theirs. we are going to deal with the money. sebastian: global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries, this is bloomberg. francine: thank you so much. now the rebound in growth may have begun after a slow start to the year. output is strengthening. meanwhile, the creditors for greece of used repayment terms to alleviate its debt. this will clear the way for it to exit what keep it afloat since 2010. for greece?od deal wasn't the only way to do it? ian: it was the only deal they were going to get. substantial debt reduction doesn't fly. we have another kicking the can along way down the road, another 10 years. the position is now a more sustainable for greece. is 178 percent of gdp. that is not sustainable. it was all that

mark pride. patrick carney has worked on the project every year for 23 years.le how nazis used the symbol to target the lgbt community. he has worked to reclaim the triangle as a symbol of strength and pride. >> part of understanding where we are is knowing where we have been. that is what this is. >> reporter: among the major activities, the transit marches getting underway at 6 pm. then tomorrow afternoon, the [null] maba here at dolores park. then the main event, sunday morning, the pride parade will make its way along market. in san francisco, kristin -- chris and captain -- christien kafton, ktvu, fox 2 news. >>> the report said vasquez was watching a television show when the suv killed the pedestrian. >>> delta airlines is facing backlash over banning pit bulls as flying as support animals. and animal rescue group is do not tell this military veteran, rudy that is pitbull is a threat. >> i grew up with them. they are the most loyal and awesome dogs. they get a bad reputation because people do not know. >> reporter: as of july 10, delta airlines is banning

mark pride. patrick carney has worked on the project every year for 23 years. it is to remind people how not to use the symbol to target the community. he has worked to reclaim the triangle as a symbol of strength and pride. >> part of understanding where we are for pride weekend is knowing where we have an. that is what this is. >> reporter: you may have heard the music starting behind me. among the major activity is at the trans march that gets underway in less than an hour. then tomorrow afternoon, the [null] march gets underway and makes its way from dolores park and went up back to dolores park. then on sunday morning as the pride parade making its way along market treat. that is a main event of pride 2018. we're leaving san francisco at dolores park where the party is just getting underway. christien kafton, ktvu, fox 2 news. >>> the former naval station concorde may be used to house immigrants to -- immigrants. it suggested it may be used as a detention campers -47 that make as many as 47,000 immigrants and their children. their working to verify the rep

mark carney is leaving. we're not letting you go. and it is so posh they are!ey bridge has been closed. the woman in her 30s narrowly escaped serious injury when a bus driver swerved to avoid her. the met started hunting for the suspect last august, but say they have now exhausted all lines of enquiry. the number of outreach workers helping homeless people in london will be doubled under city hall plans to tackle the issue. in the last year, almost 7,500 people were seen sleeping rough in london. the mayor has warned that the capital has reached crisis point. bbc london has discovered that a building run by the department for energy and climate change is itself one of the most energy—inefficient government buildings. the block in westminster has the lowest rating possible. the department says it is now installing double glazing and a new boiler system. any building that is on that scale is essentially operated inefficiently. it misses the opportunity to set best—practice example. let's have a look at the travel situation now. there is a good service on the tube

6, or 6—3 vote in favour of keeping them on hold and it was the governor of the bank of england mark carney on the high street in terms of the prices are going up but i think the key one is probably wages. a lot of upward pressure on wages because we have got effectively full employment and once you have that, it is a sort of basic economic tenet that wages start to go up and we talked earlier to standard chartered and they explained the pressures on pushing up explained the pressures on pushing up inflation. we think rates probably will go up in august, if we look at what the monetary policy committee said today, though talked about strong household spending, strong confidence, employment doing well, business sentiment improving and even the global economy they expect will be a strong source of demand in future months and they also indicated that inflation was likely to rise over the next couple of months because of higher oil prices and the weaker pound, so all of these factors together suggest that they are limbering up for a rate hike at the next meeting on the 2nd of august. it is inte

mark: we did not see this coming, did we? >> he is very unpredictable. almost anything that carney does, hal goes the other way.e has had a steady progression toward this. some of this is logical but it wasn't expected. nonetheless, by the end of this month, he will perhaps explain what his reasons are. we can half see where it's coming from a stun his previous comments. oe won't sell its bonds until the rate goes up, what's the significance? >> that brings it forward because of two notches earlier. the bank ofkish of england members have been saying that they want a pace of somewhere around two rate hikes per year. that would mean we are at five now and we have two years to go. that's the most hawkish. that's from three years or never. the fact that they bring it forward shows that they -- they are trying to give a message that the economy is so tight and that's the real message. that's why the rates need to go up. there are several different ways of telling us that. is the first quarter and aberration? i'm in the camp where i have no clue. be provedhey may will short-term right, if the economy recovers, than

mark knoller of cbs news. and if we widen out, just visible beyond president clinton's shoulder, jay carney of "time" magazine,went on to become white house press secretary in his own right. so when i say that our current guest and i have flown thousands of miles together, we have. back to you, steve. what else did the president say, and were you surprised that he trotted out this two-meeting, three-meeting possibility? >> a little bit. i was a little bit surprised. he wants to be able to see whether north korea is really serious about giving up its nuclear weapons program. a lot of people in washington don't think that kim really will do this. so he wants to just see what it feels like. he's very excited about this letter tomorrow that he's going to get at the white house around 1:00 p.m. from the north korean official. he's hoping that this will lead to the summit, that they will officially declare it back on again. that would clear the way for a june 12th meeting in singapore, lasting, we think, just one day. there's only so much you can do in a number of hours according to the president's thinking. and if