we will have an interview with mark carney at 4 p.m. u.k. time.mberg. ♪ s bloomberg. ♪ minutes into the market trading session this thursday. we are counting down to the bank of england's decision. we think they will raise interest rates for the second time. a rough rise for the u.k. economy. let's get the latest on anticipation with our reporter outside the bank. there has been a big market buildup ahead. expect this. june, it wasin voted to keep rates on hold. all it takes is another two votes to make that a hike. is this the right time to hike? some analysts say it is due to unemployment. if you look at inflation as well. the big question is brexit. now, becausehiking there might be a hike into a downturn? market expectations are high. what will give the support to the sterling? we might need messaging from mark carney to support that even more. the big question is what he is going to say in the news conference. we will get the growth in inflation forecasts. what kind of messaging will he give? we are expecting for the first to give bank of eng

the daily telegraph of there, mark carney blamed for slump in the palette, this after his interview oned of notjust by mps but also market and lists for this temporary drop in the pound. it then went up later on. well, they are all lining up to criticise him. jacob rees mann, david jones, and they are very angry at him and think he is presenting a doomsday scenario that they simply did not recognise. i think it is interesting that the daily telegraph says that mark carney therefore should be blamed because of this drop in the pound for the high cost of four holidays. that shows what they are thinking about. but we should point out that apart from these usual suspects, in that sense, the brexiteers, harshly criticising mark carney, there is somebody who feels sanguine for the opposite reason, and that is the chief executive of british airways. he says he feels assured that there will not be planes grounded here in the uk, there will be some sort of agreement that will be transported —— an agreement for transport copper hands the eu and therefore people should not panic. things will be s

martin mentioned mark carney.lump in the pound? that was a temporary blip, but he is being blamed for much more than that. he has been described byjacob rees—mogg as the high priest of project fear. and lots of other people are lining up. priti patel, david jones, the former brexit minister, peter bone and others. very harsh in their criticism of mark carney, the governor of the bank of england, saying that he is really presenting a very pessimistic picture, a doomsday scenario. but of course contingency planning has to be done. 0ne course contingency planning has to be done. one that not voice of doom at all about brexit and the implications consequences of it is willie walsh, the ceo of british airways, who is saying that all this kind of talk about planes being grounded and not flying because they wouldn't have certification, etc, that leaves him fuming. he is saying, look, this is obviously a challenge, but he believes that there will be, he says this in the daily telegraph, there will be a competence of agree

at least mark carney is saying that the banks will be ready, no matter how bad it gets.d at length about stress testing the banks have gone through. what he can't talk about is going to be the experience at the ports where all the major traffic goes, particularly dover, the main transit route through into europe from europe into the uk. but also at the airports. what is going to happen? are british planes going to be allowed to take off? if there will be no deal on the 29th of march, we become the third country overnight. the permissions we get at the moment for british aircraft, licensing, certification for air safety, will no longer be valid, and that means the planes will not be able to take off. brexit supporters will say that longer term we can have bilateral agreements and sort that problem out, but in the short term, it will be very rocky indeed. thank you for joining us from cambridge. four men who died in a car crash in bradford yesterday have been named by the police watchdog. the car which they were travelling in was being chased by an unmarked police vehicle.

i will be speaking to the boe governor mark carney later today. ining us to talk about the carneynd governor mark is our guest. thank you both for joining us. all, what is the underlying justification for the lifting of every? i think they were clear that things have not moved as expected and they were looking for data to come in line with their expectations. that is what they have done. we have heard from mtc members signals they are ready to hike. francine: but brexit. does it not make more sense to wait? >> maybe you have that opportunity. a window where you can raise rates. since may, we have had a weaker pound, so that combined with the sector, inflation could pick up. but what is more interesting is we are on a case of one and done. the market is only pricing in one. francine: if they do not hike, what happens to the pound? [laughter] elsa: he loses all credibility. one of our traders said if he does not hike, he may as well markets have been wrongfooted sony times by mark carney. at least in may, they made an effort to talk it down. they can

with, we have an interview bank of england governor mark carney when our from now, after the boe's decision to increase rates. first, abigail doolittle is here with. breaking economic data abigail: -- with breaking economic data. abigail: we are looking at factory orders. factory orders are up slightly from the month of may, up .4. an in my number, a little stronger than may, and not a lot of reaction for major averages. the dow down the most. renewed trade tensions weighing on investors, the uncertainty of what it could mean. if we look at the today chart of the dow jones industrial average, we will see this down daysays, the worst two since june coming off of the lows. investors are jittery. behind the declines, the worst factors for the s&p 500 are industrials and materials. if we look at dow dupont, freeport steel, we see the weakness of trade fears leading into industrials and material sectors. we also have interesting movement as we look at consumer-related stocks. look at these declines. resorts, red wynn robin gourmet burgers, all on earnings. trip is down. mgm missed gap earnings.

that was mark carney speaking earlier. there was a no—deal brexit and suddenly there were checks for customs, checks for food safety and other sorts of regulations, the fear in the logistics industry and storage industry is that the ports would seize up. and smaller disruptions we have seen over the last couple of years. for example, when there were strikes in college i think in 2015. we have 30 mike duke miles of cues. the fear is that the keys could be longer and last longer. we would not run out of food but there could be gaps of food on our shelves. what would the view of this be from the people behind brexit? i have spoken to about 20 to 30 senior people who are in the logistics industries, that warehouse industry, the retail, supermarkets... and they are all saying pretty much the same thing. they are very worried. they do not wa nt to they are very worried. they do not want to scare customers. they are happy if customers are buying things and consumers are buying things and the system works. if it is project fear or

bank of england governor mark carney is back in the brexit debate. the chance of the u.k. dropping out of the european union is uncomfortably high. that implicates mark carney is more comfortable that theresa may will be able to get consumers to business. david: thank you. it appears china may have a response to wilbur ross saying we will increase pressure on china. china will be levying differentiated terrorists -- tariffs on u.s. goods. i take it means it is not the same rate. they are not crying uncle yet. julie: futures coming off their highs. into the jobs' day mixed. this back-and-forth on tariffs. david: it is 27 minutes away. --nomist are expecting economists are expect thing that jobs grew. ,oining us is alan krueger former white house chief economist. you don't want to pick a number. are you expecting as robust a number? alan: that seems quite reasonable. unemployment insurance claims continue to below. the report that president trump tweeted about is a first talking about the adp report from the white house. all signs look like a continuat

alix: bank of england, mark carney still speaking. vulnerable thew u.k. would be.said last night's tweet is not in the forecast with the newest assessment to include the latest trade measures. they say there is evidence of tariffs having an impact on trade flows. there is confusion about the uncertainty in what it means for the dollar. it is aersation is that safe haven trade. where do you stand on it? >> as it stands the tariffs we have seen impose by the u.s. administration are light. having said that, if you look at details of the i.s. them the u.k. pmi, numbers, there are emerging signs there are concerns about a protracted trade. as it stands we don't think the global economy and the outlook for growth is significantly impaired. escalation takes this to another level but through yesterday's fed minutes and official commentary from the bank of england, trade wars are not a central theme. that will depend on where we take this from here. it is a risk rather than a central sonority oh for monetary policy function. stay with us. we will turn out to turkey. turkish

we'll bring you our interview with mark carney at 4:00 p.m. u.k. time. and the trump effect, asian markets fall on the threat of increased tariffs from the united states. and washington imposes sanctions on turkish officials. ♪ good morning, everybody. this is "bloomberg daybreak: europe." will go to germany first because we have a slew of earnings to get through. profituarter industrial in thebillion euros, ballpark of the 2.20 7 billion, slightly below perhaps. the concern on the forecast for industrial profit harkin -- profit margin. in line with the 20.8 billion .ou would say interesting to watch for any kind of strategy update you get from vision 2020, something the business has been talking about and something we've been anticipating for a while. some years into his tenure, we will speak with the ceo, joe kaeser, joining us in a few minutes time. ing, second quarter pretax offit against an estimate 1.80 4 billion. ahead of estimates ahead of second-quarter numbers for this business. feee watching for the income because there's a lot of interest fro

the governor of the bank of england, mark carney, has warned that the possibility of a no—deal brexitfortably high". mr carney told the bbc that such an outcome would be highly "undesirable", and the uk and eu should do all things to avoid it. however, he said planning for "difficult circumstances" had been undertaken. brexit—supporting mps say the governor's comments are part of project fear. our business correspondent rob young reports. it's less than eight months until brexit. but we still don't know what economic life outside the european union will actually look like. ministers have been warning about the risk that a deal won't be done in time, potentially leading to disruption. today, the man in charge of the banking system intervened in that debate. the possibility of a no deal is uncomfortably high at this point. it does mean potential disruption, certainly it does mean disruption to trade as we know it. and, as a consequence of that, a disruption to the level of economic activity changes higher prices, for a period of time. few people move financial markets when they speak, b

a warning from bank of england governor mark carney about the brexit talks. to be ready if britain crashes out of the eu. four men who died in a car crash during a police pursuit in bradford have been named. the car was followed by officers early on thursday morning, when it crashed into a tree. the leader of zimba bwe's into a tree. the leader of zimbabwe's main opposition party says he is ready to go to court to prove vote rigging led to his loss in the presidential

mark carney tells the bbc the financial system has to be ready if britain crashes out of the eu.ly high at this point. brexiteers say the comments are "project fear" all over again, as theresa may travels to france to sell her brexit plans. also on the programme. the sister of a young midwife who's been missing for a week, makes a heartfelt plea. she's my best friend and partner in crime. without her, half of me is gone. zimbabwe's new president emmerson mnangagwa calls for unity. the opposition maintains, his election was rigged.

yesterday we spoke with mark carney. he told me he is not done with interest rate hikes but also spoke on a radio in the u.k. that there is a chance of brexit turns ugly. so markets just do not seem to believe the fact that the boe can hike again. yuan, we did have volatility. 6.8933, and the stoxx 600, a lot earnings. gaining some 0.3%. yesterday, apple hit the $1 trillion market cap. its cap over the last five years, the first company to be worth over $1 trillion. we have an exclusive conversation with a chief executive of the italian bank. we will talk to him about the bank but also about the italian banking landscape and the budget. first, let's get to new york for first word news. taylor: francine. u.s. commerce secretary wilbur ross signaled more pain ahead unless china changes its economic system. he told fox news that the administration will create a situation where it is harder for the people's republic to continue what he called "bad practices" than it would be to reform. beijing has repeatedly pledged to respo

france shortly, but the meeting comes amid a stark warning from the governor of the bank of england, mark carneyty of a no—deal brexit is ‘uncomfortably high'. mr carney told the bbc that such an outcome would be highly undesirable, and the uk and eu should do all things to avoid it. our business correspondent rob young reports. it's less than eight months until brexit. but we still don't know what economic life outside the european union will actually look like. ministers have been warning about the risk that a deal won't be done in time, potentially leading to disruption. today, the man in charge of the banking system intervened in that debate. the possibility of a no deal is uncomfortably high at this point. it does mean potential disruption, certainly it does mean disruption to trade as we know it. and, as a consequence of that, a disruption to the level of economic activity, changes, higher prices, for a period of time. few people move financial markets when they speak, but the bank of england governor is one of them. his warning about the risks of a no—deal brexit hit the currency markets,

simon, let's begin by talking about the governor of the bank of england, mark carney.g news again already this morning, on the airwaves to the bbc, talking about the risks of a no—deal brexit. let's cast our mind back to yesterday, when he was also taking centre stage. raising uk interest rates by a quarter of a percentage point. do you think about was right in doing so? it was a unanimous decision. you think about was right in doing so? it was a unanimous decisionm was. surprising son? the fact it was so was. surprising son? the fact it was so strong, yes. some people thought maybe a couple of members of the monetary policy committee would vote against it but it was unanimous. the question is, why would they hike rates yesterday when we've got brexit to come and when inflation is slowing down? i think it's about giving a degree of stability for the bank. if you perhaps have something u ntowa rd bank. if you perhaps have something untoward happen later this year, england need to start cutting rates again to support the economy. there is this idea that maybe they need a

meanwhile, bank of england governor mark carney issues a stark warning.s point. the leader of zimbabwe's main opposition party says he's "ready to go to court" to prove vote rigging led to his loss in the presidential elections to emmerson mnangagwa. but the re—elected president insists the process is "free and fair". the four men who died in a car crash during a police pursuit in bradford have been named. the car was followed by officers early thursday morning when it crashed into a tree. labour's leaderjeremy corbyn has restated his commitment to root out anti—semitism in the party. writing in the guardian, he says rebuilding trust with thejewish community was his priority. the sister of a woman who has been missing for more than a week has made an emotional appeal for help to find her. gemma eastwood broke down in tears as she described her older sister, samantha, as her best friend. the 28—year—old midwife was last seen at the end of her shift at the royal stoke hospital last friday morning. a 32—year—old man arrested in connection with her disappeara

the governor of the bank of england mark carney has warned of the possibility of britain leaving theopean union without a deal, saying the uk and eu must do everything possible to avoid it. i think the possibility of a no deal is uncomfortably high at this point, yes. so you're saying quite clearly that a no—deal brexit would be a disaster? it is highly undesirable. that's all from the bbc news at one, so it's goodbye from me, and, on bbc one, we nowjoin the bbc‘s news teams where you are. good afternoon i'm here with the latest from bbc sport centre. england have a lot to do if they wa nt to england have a lot to do if they want to keep their hopes alive of winning against india. there was a devastating spell of bowling. there are 86—6. that is the lead of 99. patrick is live at edgbaston for us now. it appears that england are crumbling. indeed, if i tell you just now, they celebrated the greatest england test 11. 1000 test match. some are in the 11. and england could really do with all of them in their prime because they are banged up against it. ifeel like i am repeating myself,

the governor of the bank of england, mark carney, has warned that the possibility of a no—deal brexitcomfortably high. mr carney told the bbc that such an outcome would be highly undesirable, and the uk and eu should do all things to avoid it. however, he said planning for difficult circumstances had been undertaken. brexit supporting mps say the governor's comments are part of project fear. our business correspondent rob young reports. it's less than eight months until brexit. but we still don't know what economic life outside the european union will actually look like. ministers have been warning about the risk that a deal going to be donein the risk that a deal going to be done in time, potentially leading to disruption, in charge of the bank intervened in that debate. the possibility of a noble deal is uncomfortably high at this point. it does mean potential disruption, certainly does mean disruption to trade as we know it. and, as a consequence of that, a disruption to the level of economic activity changes higher prices, for a period of time. few people move financial markets wh

we will bring you our conversation with bank of england governor mark carney later. vonnie: let's check in on first word news with kailey leinz. kailey: president trump has received a new letter from the north korean leader following up on their summit. a statement from the white house does not give more details. the president tweeted his banks for the letter and that he looks forward to seeing kim soon and thing 2% to send home the remains of americans killed in thankedan war -- and him for sending home the remains of americans killed in the korean war. beijing says they are prepared to retaliate if president trump boosts tariffs from 10% to 25%. the chinese ministry says they have to defend chinese pride and people's interests. the trump administration wants to roll back obama era rules and es.eze auto mpg rul obama era rules called for the standard to rise to 50 mpg by 2020 and the trump ministrations wants to unwind california's limit on tailpipe emissions in the state. first time filings for unemployment benefits were little changed last week. they rose by 1000.

mark carney, the governor of the bank of england. mark carney, the governor of the bank of england.g your questions on how the interest rates rise could affect you at half past two this afternoon with the personal finance journalist sarah pennells and the consumer expert jasmine bi rtles. send us your questions and we'll try and answer them. the national citizen service, a government—run youth scheme, is not value for money according to councils in england and northern ireland. the project allows 15—to—17 year olds to spend four weeks working in the community. the local government association says only 12% of eligible teenagers have taken part and it has cost £634 million. the government insists the scheme has improved the lives of 400,000 young people. the former conservative minister for civil society, rob wilson says the project has come a long way but more still needs to be done to increase the number of teenagers signing up to the scheme. it has built up over the years from a situation where a few thousand would go in each ear, to now where about 100,000 young people are going

you can read stephanie's interview with mark carney in bloomberg markets magazine.a look at what tesla is doing right now. it continues to rise. over two days, up 15%. the electric car maker has done pretty well. their earnings were pretty well received, especially on the cash and print, better guidance, a potentially apologetic mosque -- apologetic musk. know, with all of the ongoing issues in the company, tesla has become one of those favorite targets for shorts, including big names, such as jim chanos and david einhorn. we will keep an eye on the stock. live from new york, this is bloomberg. ♪ shery: one of the largest cannabis producers in america lists on the canadian stock exchange this fall. we are welcome here in canada. although we are u.s.-based, today, to be on exchange, canada is our first and frankly only choice as a u.s. cannabis company. >> you have been at this for a long time. but those who are unfamiliar with acreage, just described the business model. what do you own? >> i have personally been added as a private investor since 2011 and really more

the mark carney interview on bbc continues.ing the chance of a no brexit deal is quote uncomfortably high. taking a bit of a nosedive on the back of that. as the governor of the boe expresses his fears. this is bloomberg. ♪ unlucky eight. china's currency heads for eight weeks of declines, its longest losing streak on record as wilbur ross signals more pain and ahead unless beijing changes its ways. as the yuan been weaponize? turkish inflation accelerates less than expected. the lira erases losses for the day, but still hanging around the five handle. in beijing. heine takes a $3 billion stake in china's largest brewer. the stock trades higher. welcome to "bloomberg markets: the european open." i am matt miller in berlin alongside guy johnson at bloomberg's european headquarters in london. guy: paper and packaging seems to be doing the trick. trading higher. royal bank of scotland, driving the stock higher. all trading higher. we have decent numbers being generated at the upside of the market. the market in general, not going

maybe we will get another rate move out of mark carney. you spoke about the pain trade.f you look in -- listen to wilbur ross, he said putting beijing in that position of pain hopefully from his point of view, the trump administration's , they will get them closer to economic reforms. that is a long-term game. they the question is if could relate debt there. let's get you caught up with what has happened in the u.s. close. truean see if it was a tech trade. the s&p 500, the tech sector, helping to push that up. that was the biggest gain in the sector. the dow getting the most pain out of the trade issue of being flat. looking at the board, taking a look at the bonds, the u.s. 10 year fluctuating. we have been talking about how that could end up 3.1%, the last threshold we saw earlier this year. this was the highest in the past few months. the japan genia, we see that picking up -- 10 year, we see that picking up. 4.84 is where we are at. is something to be on alert for because that could mean temptation for folks to pull their money out of global bonds and send it back i

boe in her mark carney -- boe governor mark carney spoke with francine lacqua. right position for the economy given the track it is on. obviously there is a wide range of exit outcomes -- brexit outcomes that are possible. we all hope that by the end of the year we will all be more informed on what path the u.k. and eu are taking. in a variety of those potential outcomes, they would be consistent with rates at their current level, if not higher. certainly there could be circumstances where it would make sense to adjust policy. but i think we all know what those circumstances are, and at that point we will take them into account. francine: what would that actually meet with the rate cut? carney: it is a set of circumstances that what happened post-referendum, where the balance of what happened to the future supply of the economy demand, which was more of a business hit than a consumer hit at the time, and the exchange rate, the combination of those things make sense for us to extend the horizon over which we brought inflation back to target . it does look like th

the headlines: theresa may holds talks with emmanuel macron as the bank of england governor mark carney issues a stark warning about brexit. the possibility of a no deal is uncomfortably high at this point. zimbabwe's president emmerson mnangagwa calls for peace and unity, as riot police try to break up an opposition news conference. labour leaderjeremy corbyn says driving anti—semitism out of the party for good is his priority. the sister of a young midwife who's been missing for a week makes a heartfelt plea. she is mired best friend and partner in crime. without her, half of me is gone. also coming up this hour, forecasters say the all—time temperature record for continental europe could be broken in the coming days. much of europe continues to sizzle in a heatwave, with temperatures in spain and portugal in the forties. and at 11:30 we'll be taking an in—depth look at the papers with our reviewers, martin bentham from the london evening standard and benedicte paviot from france 24. stay with us for that. theresa may's attempts to sell her plans for the uk's departure from the europe

may's drive to win over eu leaders as mark carney adds further rate hikes despite brexit risk. apple becomes the first u.s. company to breach the 13 digit mark. shares rose 9% over two days. will amazon be next? good morning everybody. 6:00 here in london. we have some breaking news for you. we've got a host of companies reporting earnings this morning. let's start with allianz. this is the german insurance business. second quarter upward profits, 3 billion euros against an estimate of 2.8 9 billion. they are concerning their outlook -- to meet their operating profits target, delving into the numbers a little bit, looking for any news more broadly, or specifically on pimco. that to you.o get operating profit, 3 billion euros against an estimate of 2.89. we get intome line, the statement a little bit, miss forestimates -- a estimates. they have stuck with their guidance. what inflows and outflows to be seen? -- do we see? that was one of the big questions. we do not see m&a just yet. a relatively new ceo at this business. we talked him june about the potential for them to do some

of course, mark carney has so judicious and careful in his moves on monetary policy, tolerating a big rise in inflation above target. even though inflation is starting to come down, mark carney still sees rates coming down further than they are now. take a look at one of our gtd charts. -- go tv charts. you can get the picture of what happened in the last 24 hours for the bank of england. you can see the white line along the bottom. flat rates were down. core inflation down to 1.9%. headline still 2.4 percent above target. in fact, after this decision that he is keeping rate hikes on the agenda even as brexit , the economy is growing, unemployment is low, wages will rise, and that is the reason for this. he told bloomberg television earlier today that the door is open and rate hikes could happen. >> important thing is this is the right decision for the economy given the track that it's on. obviously, there is a wide range of outcomes possible. we all hope that by the end of the year we will all be much better informed on which path to the u.k. andpath the eu are taking. >> with many o

mark carney says that britain faces high risks of a no—deal brexit.he comments. amazon's tax bill in the uk fell last year, even though its profits nearly tripled. the full tax bill for the company's uk branch was £4.6 million, but it has deferred paying the remaining £2.9 million. the online firm has faced criticism over the amount of tax it pays, but amazon says it pays all the taxes required by the government, and has invested more than £9 billion in britain since 2010. regular exposure to even low levels of air pollution may affect the heart to such an extent that it would be similar to the early stages of heart failure. according to a study for the british heart foundation, the changes were comparable to being consistently inactive or having raised blood pressure. two men are being treated in hospital after they were stabbed outside glasgow rangers' ibrox stadium last night. fans clashed ahead of the europa league match with croatian side 0sijek. the two men, aged 24 and 40, are in a stable condition. police scotland have appealed for witnesses.

rishaad: mark carney's eking to mark carney speaking to francine lacqua.lloff in tech have dragged tencent down since it's january high. inres posing the lowest months. the average price target of 51 analysts is $511 even after they cut their forecast last month. china's struggling hna group examining options for its leasing division. includeold they companies controlled by henry chang. avalon has the potential to be among hna's biggest disposals. india's biggest oil and gas producers seeing it net income up 58% of the first quarter and it reached a four-year high. sayingong -- it was however below average estimates. expenses rising by almost 70% in the period, but ongc did not actually tell us why. with a few stocks names is giving the downturn. let's look at who are among those my guards of note. sophie: losing ground for a third day, you have rail and airline names among the worst performers and tech shares as well. extending losses for a third day. this is among the companies linked to china by chinext technology group, one of four firms the u.s. said

well, mark carney has said people should expect more "limited" and "gradual" interest rate rises overrs. he's been speaking to our busiess editor simonjack. (tx next) some people will say we're pretty wea k growth some people will say we're pretty weak growth in the uk, and a trade war kicking off for the big superpowers around the world. you have the huge uncertainty of brexit around the corner. this is not the ideal moment, so why not wait? relatively weak growth — we have growth in the uk that is around hour speed limit, a little faster. we used to be able to run the machine at 3% growth, now it is around 1.5% growth. this is more the new normal, at least for a period of time. the second thing is, without question, there are these uncertainties. brexit is, you know, dominates all the other uncertainties. i think we are all hoping that by the end of the year, there will be much more clarity about the future relationship and that there will be a smooth transition to whatever that relationship is. there are a variety of scenarios that can happen with brexit. we don't have enough time

governor mark carney spoke with our francine lacqua after the decision.bankers is never a great idea. i will not read too much into that. i think the important things from the decision today is we made the decision. appropriate to take rates and the mpc unified on that. secondly, that we do see requirement for a few more rate increases over the next few if the economy remains on this track, to be consistent with that. certainly, -- and we had an exchange at the press conference on this, but i think it bears repeating, which is that i think many in the market recognize that the equilibrium interest rates is lower than it was previously. in the view the mpc. there is a wedge between that overall level and where the equilibrium rate is in the u.k.. a lot of that has caused -- is caused by the uncertainty around brexit. what isu look at happening to business investment in this country right now. it should be on fire. it is just moving very tentatively. away that uncertainty, one would expect using business as an example, that they will adjust quickly to the n

mark carney did it again, talking about brexit and his worries.pound a little higher on the back of the 90 -- 9-0 vote for a rate hike. words of warning from the press conference with governor carney talking about risks to brexit. he pushed the pound lower again, another interview, talking about the uncomfortably high probability. he says it is low but high that we get a no deal brexit. if we did, we ran out of time because the u.k. government could not get a deal in time for march 2019 with the e.u. he is saying that it could be highly undesirable. that is a look at the european market. vonnie: in the u.s. we are related torrencies trade negotiations. a stronger mexican peso and canadian dollar as well. every country but china might be negotiating with the u.s. and end up with some deal. we are seeing improvements for those currencies. crude oil futures down .4%, trading 68.68. and i want to point to the 10-year yield. it is well backed off 3%, briefly hit earlier in the week. we are finishing the week on a very green note. we should look at comm

bank of england governor mark carney said on friday the chances of a no—deal brexit were "uncomfortablyon in trade tensions between the us and china. beijing has said it will impose tariffs on $16 billion worth of us goods on the same day that america plans to begin new import taxes — also on $16 billion worth of chinese goods. both will take effect on the 23rd of august. you may remember both countries have already added tariffs to $34 billion of one anothers' goods. a quick look at the markets before we go. asian investors on thursday largely brushed off china's tit—for—tat response to donald trump's latest tariff threats, with most markets rising, but concerns about the impact of an all—out trade war are keeping optimism in check. i will see you soon. the results of an independent investigation into historic child sex abuse at two roman catholic boarding schools during the 1960s, ‘70s and ‘80s, will be published today. the english benedictine monasteries at ampleforth in north yorkshire and downside in somerset have apologised for past failings. the report is based on evidence given

mark carney coming out last year in saying that the chances of a no deal brexit is uncomfortably highsecretary liam fox echoing that, saying currency traders have not been prepared for this and now they are hedging against the possibility ofa are hedging against the possibility of a hard exit. we are trying to stockpile medicine and we are trying to rush towards what is there is actually no deal? there is lots of media and noise about this actually, and they have now had to take seriously damaged the supply chains, something that is, companies cannot prepare for this in even eight month. it takes years to form a business and the right supply chains. there have been scales such asa 0.25% chains. there have been scales such as a 0.25% increase in interest rates, britain is —— britain suffering as they travel into europe. i have seen some of predictions that this is just temporary. an american friend did tell me the other day this is wonderful, this is the cheapest holiday in the uk have ever had. but anyway, i will just holiday in the uk have ever had. but anyway, i willjust move on. a

during mark carney's testimony yesterday sterling did weaken after that decision to raise rates. the assumption there was a gradual, limited, dovish hike, if you will. it's interesting to see with this weaker data what happens. moving on, the broader fx curve, we're keeping an eye on the dollar ahead of the non-farm payrolls report. you are looking at the dollar slightly higher against the japanese currency, higher against the euro as well sterling continues to weaken against the greenback. dollar is stronger against the yuan stronger in the session by 0.3%. this certainly catches the attention of the white house let's check ten-year yields. we had seen the u.s. ten-year yield above the 3% mark. now at 2.9729. keep an eye on italian yields. the ten-year yield moving higher for the two and five-year, moving 20 bips a lot of this over concerns about budget tensions. there seems to be a split on tacks and what the spending plan will look like in a country that already faces so much political uncertainty. switching over and looking at what is happening here in the european trading se

i would imagine mark carney is quite jealous of what the fed would say.anies build new aircraft, or modify existing designs, they need to make sure they‘ re safe to fly. that's the job of test pilots. and to learn their trade, they need highly specialised aircraft — as our reporter theo leggett has been finding out. three, two, one. this is no ordinary helicopter. it is a highly specialised machine. like the one i am writing in, it is based on a conventional model, and airbus. it has been heavily modified so it can be used by the next generation of crack aviators at britain's empire test pilot school. this cockpit is basically a classroom. it is where future generations of elite test pilot can learn notjust how to analyse how the aircraft lies, but the way its electronics work, because electronic systems are an increasingly important part of the aviation industry today. turning an ordinary helicopter into a high—tech training machine is not a simple process. the work is carried out here at airbus helicopters uk headquarters, were designers are used to mak

the headlines: theresa may holds talks with emmanuel macron as the bank of england governor mark carneyit. the possibility of a no deal is uncomfortably high at this point. zimbabwe's president emmerson mnangagwa calls for peace and unity, as riot police try to break up an opposition news conference. labour leaderjeremy corbyn says driving anti—semitism out of the party for good is his priority. the sister of a young midwife who's been missing for a week makes a heartfelt plea. she is mired best friend and partner in crime. without

rank of england governor mark carney said on friday that the chances of a no deal brexit we re that the of a no deal brexit were uncomfortably high. 0n that the chances of a no deal brexit were uncomfortably high. on sunday, international trade secretary liam fox put the odds at not much more than 60— 40. in a few hours from now, this company, swedish furniture giant ikea, will open its first ever store in india. the mega— retailer plus dining outlet will occupy 400,000 square feet or about 30 acres of space. now, if those numbers boggle your mind, it is about the size of the windsor castle property. the store took years to launch and while india is of course a huge market, will build it yourself concept of ikea take off there? our correspondent met with ikea's global chief before the store's open. now, when you buy something from ikea, whether it is a table or chair, it comes to you in the saint flatpack, so you take out the parts and assemble it yourself. that is not something indians are used to. because of the availability of cheap labour here, you usually have workmen and carpenter

it looked as if people are starting to finally take it is the ads are not shown, and mark carney wasthought the prospect of it were uncomfortably high. liam fox was putting it at 6040 about whether they would get a deal or not. i think what we're seeing is the ramifications of that. we have got lots of other stories to get through. let's just take a quick look at the financial times. this i’ow look at the financial times. this row between saudi arabia and canada, really seems to be hotting up. very interesting. this basically calls for the release of a prominent saudi women's rights activist. in response that, the saudi arabians are selling off canadian assets, no matter what the cost. it is very distinct, because we are seeing some of these countries now, spending huge amount of money, investing huge amounts of money abroad, and it looks like when the time comes, they are willing to use it financial pressure to put pressure on countries. it is an interesting tasks the position. —— an interesting juxtaposition. from what we have heard, there are some more progressive things happening

in the week, we will hear from the boe's mark carney. get the u.s.port and potentially another round of tariffs. still with me is priya misra, michael collins, and iain stealey. i want to end with what your highest conviction contrarian bets are heading into the year. i will combine two things. i will say lower rates and higher bonds. interest rates volatility is at all-time lows. i think most people expecting to shift we do expect a fed to hike in september and december. if you buy the combination of an auction, and should make the trade work, as well as lower rates, i think the risk around em, risk around tariffs, all of that, can potentially make rates drop as well as more pickup. it is a combination. lisa: when you say rates, talking 30 year, 10 year treasury yields? priya: i would say tenure. lisa: mike? michael: i will go with the theme of two ideas. one is lower rates. i believe we have been in that tight range, 280, 3%. if you have a breakout in one direction, feels like the higher probability is on the downside. we have markets which talked

she's holding talks with emmanuel macron, as mark carney tells the bbc preparations must be made forno deal is uncomfortably high at this point. brexiteers say the comments are project fear all over again. we'll be live in france. also tonight... zimbabwe's new president calls for peace and unity, as riot police try to break up an opposition press conference. so what now for the country? the sister of a young midwife who's been missing for a week, makes a heartfelt plea. she's my best friend and partner in crime.

mark carney they're speaking to simonjack.r rates will become more expensive. but what about your savings? anna bowes is the director of savings champion, which compares the best options for saving your money. she joins us live from bristol. a very good evening to you. our savers going to see the benefits of this right? they should see some benefits but not everybody. there is no one rule fits all here. in the last base rate rise we saw in november, about 50% of the variable—rate savings accounts did not see a rise at all. so that is a huge number. therefore savers can't just sit back and expect the interest on their earnings to rise by 0.25%. in fact, the average easy access account rate has only risen by 0.09% since before the base rate rise in till now. so that was very much less than the rise last time. so the situation for people is that you need to be vigilant and see what you need to be vigilant and see what you are owning and see if you can earn more elsewhere. a query that has been sent in to us via twitter, one of ou

theresa may's visit comes as the governor of the bank of england mark carney, warns the chances of a his comments have been criticised by some of the prime minister's own conservative mps who are in favour of brexit, and say he's scaremongering. here's our business editor simonjack. wish you were here. this is no holiday. government ministers are touring the scorching capitals of europe, hoping to persuade leaders to get behind its proposed deal with the eu. the prime minister even cut short her own holiday to join the french president on his. meanwhile, the governor of the bank of england cranked up the temperature at home with this strongly worded warning. the possibility of a no deal is uncomfortably high at this point. it does mean potential disruption, it does mean disruption to trade as we know it, and as a consequence of that, a disruption to the level of economic activity changes, higher prices, for a period of time. the governor of the bank of england doesn't say anything by mistake, he knows his every utterance is carefully scrutinised, so this was a deliberate intervention

she's holding talks with emmanuel macron, as mark carney tells the bbc preparations must be made foro agreement with the eu. the possibility of a no deal is uncomfortably high at this point. brexiteers say the comments are project fear all over again. we'll be live in france. also tonight... zimbabwe's new president calls for peace and unity, as riot police try to break up an opposition press conference. so what now for the country? the sister of a young midwife who's been missing for a week, makes a heartfelt plea. she's my best friend and partner in crime. without her, half of me is gone. much of europe sizzles in a heatwave, with temperatures in spain and portugal in the forties. and laura kenny returns to winning ways, as great britain secures its first gold of the european championships. and coming up on sportsday on bbc news... india captain virat kohli is still pulling the strings in the first test as england face a thrilling finish at edgbaston. good evening. theresa may's attempts to sell her plans for the uk's departure from the european union have taken her to france and t

the thing that gets me was that, just a few days before, the governor of the bank of england, mark carney of a higher likelihood of having a hard brexit, and he himself was criticised by the brexiteers will be in the high priest of project fear, and now we have liam fox fear mongering himself right now. of course, you could just be saying what he thinks will happen, given the state of the negotiations. i think the fear mongering amongst brexiteers has been appalling. they said over and overagain, been appalling. they said over and over again, look, i been appalling. they said over and overagain, look, ithink been appalling. they said over and over again, look, i think there should be a people's vote on the deal we should have, i've always backed that, but they are saying, if we have any kind of other question, there will be riots in the street. do is fear mongering? let's look at a couple of other stories, because the sunday times, on the subject of the sunday times, on the subject of the leading campaigners, saint david cameron —— saying that david cameron brands michael gove a lunatic.

to be more cautious in the coming months is the departure talks continue bank of england chief mark carney has wounded a new deal gregg's it in march would be a shock to the nation's banking system. well if. it is over to brett now and the penalty shoot outs get a shake up. the government got the whole bells and whistles tonight football authorities are considering changing the format of penalty shoot outs to make them fairer and reduce the pressure on players going second to the day but the new system has been inspired by a very well known swedish pop band but will put all decided to take a chance let's find out. fresh off the back of a world cup which saw plenty of penalty shoot out drama young german players a training a new system. with research revealing the site going second in a shootout loses sixty percent of the time a new film has been devised a.p. also known as abba sees teams take alternating pairs of penalties off the first spot cake. too often high new teams have a style the way that sites. but what they make of the new system. it's good because in the old system the team goi

mark carney said there was uncomfortably high probability of an ordeal brexit.lk about sanctions. the first tranche of sanctions against the iranian regime this week. also russia as well. what has happened? with russia it isa well. what has happened? with russia it is a question of some sanctions being imposed in response to the attacks on the chemical weapons —— the chemical weapons attacks on two people in britain. it is coming in two stages. the first stage is focusing on exports of technologies from the united states to russia that could be used for military purposes. export licences are no longer going to be available for that kind of thing. the americans are saying that if there is not convincing proof that russia is refraining from this kind of thing and is going to allow inspections inside russia, they are proposing further, more aggressive action. the russian prime minister has talked about this as being potentially a declaration of economic war, depending on what is in the second round of sanctions. strong words. they are, rather. we talked about sanct

exits the european union the governor of the bank of england mark carney had made similar comments two days prior even worse an attempt to boost the pound sterling or at least slow it slide with an interest rate increase seems to a failed deal or no deal the u.k. is set to exit the european union in march of twenty nine thousand. instead of protecting america's aluminum industry the trump tariffs are negatively impacting many u.s. producers including the country's largest alcoa with profits being eaten away alcoa is asking the government for a waiver on canadian aluminum so that it can continue to meet demand for its products artie's alex joins us from toronto alex thanks for being with us again as always we know that the trumpet ministration imposed ten percent tariffs on foreign aluminum including that would come from your arm up there from canada for what the president called national security reasons i'm not so sure about that but why is oco asking for an exemption from the move. look at we we talk about a thousand times canada in the states especially if you look at world wide the