we will come onto that in a second, but let's hear from michelle barnier.lieve that the uk will come... but that means it should not be a problem for the uk to agree on a number of ground rules. the eu's chief brexit negotiator there. he is saying that i don't want the uk to be this low tax, easy come easy go economy like singapore, but his conclusion is well if you don't want to be free and easy about everything, i don't see why you don'tjust sign up to all eu rules. can ijust interject, obviously there is a lot of talk about, we go into the detail of the mandate and that statement, there are no real surprises, we all know that the two sides are already kind of at loggerheads over these so called level playing field provisions and the indirect role of this ecj or the european court of justice, but i would say, are you really surprised? this is the start ofa really surprised? this is the start of a big negotiation, i would really surprised? this is the start of a big negotiation, iwould be gobsmacked if the eu were saying, all boris do what you like,... no

michel barnier a warning that both sides need to prepare for a possible cliff edge no deal outcome at the end of this year british prime minister boris johnson is firing back saying we will not accept. also coming up tonight the turkish president of one warns moscow not to stand in his way if turkey which delegates that gives an attack in northern syria by syrian forces civilians caught up in the fighting are being forced to flee their homes and china opens its new high speed hospital built in just 10 days that will help treat the influx of patients infected with the coronavirus a 1000 new vests to help stop the spread of the infection. i'm burnt off it's good to have you with us just days after britain left the european union the next breaks a chapter apparently is beginning both sides are squaring off for what looks likely to be tough trade talks representing the e.u. breaks in negotiating michel barnier is signaling that brussels will demand tough terms on issues such as fishing rights and a level playing field for businesses british prime minister boris johnson says that he wants

the eu's chief negotiator, michel barnier, said the eu wants a close trading relationship with the uk britain having "unfair competitive adva ntages". here's our political correspondent, helen catt. the break—up is done, but what comes next? in brussels and in london, two visions of a future relationship. good morning, everybody. in his first speech since the uk left the eu, borisjohnson set out what he wa nts. eu, borisjohnson set out what he wants. we want a thriving trade and economic relationship with the eu. pot... there is no need for a free trade agreement to involve accepting eu rules on competition policy, subsidies, social protections and the environment or anything similar any more than the eu should be obliged to be that —— to accept uk rules. meanwhile, in brussels... we are ready to offer a highly ambitious trade deal is the central pillar of this partnership, including zero tariffs and zero quotas. but... we must agree specific guarantees to ensure a level playing field over the long—term. level playing field over the long-term. it is a gap negotiators will have to work

wants is far more of a deal much more like canada well what they're saying is that michel barnier said well that took a 7 years to negotiate we can't negotiate this by the end of the year he's not going to say that this is easy absolutely isn't so there are 2 sort of sort of views of the way the deal could be it could be like canada and it could be like norway now one of the sticking points ironically is a very small issue in terms of trade across the e.u. and that of fishing rights the norwegians have a situation where they actually negotiate each year. so what the u.k. has in its favor really is it's very powerful in terms of the waters obviously that it's of books around the u.k. you have to look at a map to see that that the u.k. waters are vast and the you eat you fisherman they want access to that so shorn o'donoghue who is the head of the european union for fisheries has said look we want to maintain our access so you've got a lot of pressure because they have a lot of political power you got pressure from the fisherman then you also have a lot of pressure from all the german ma

understand at this point is because the negotiations haven't actually started jets go to him michel barnier for the european side giving virtually simultaneously news conferences this morning about sort of beating their chests and putting out was what effect simply equal and opposite hard line positions so michel barnier says we europeans a man can sing the access to british waters for fishing even though he knows the brits it says that as an idea equally boris johnson knows that the europeans want continued alignments in the continuation of the same source of standards and so to try to undermine that he gave a speech in which he said we don't need those things at all in fact he said we'd be just as happy to have either a canadian or an australian styled. indigenous leaders from the amazon have called on the british government to stand up for their rights they visited the prime minister's official downing street home to ask that no minerals or agricultural products from the amazon be imported into britain sonny gago reports from london. it is known as the lungs of the earth and the richest

prime minister boris johnson clashing with eu negotiator michel barnier. barnier says johnson must agree to strict rules on competition. moments later, johnson rejected the demand. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. viviana.hanks, later in the hour, we will take you to iowa for a preview of this evening's democratic caucuses, beginning the primary voting for 2020. later today, wethat starts at 1. eastern. tomorrow, tune in for special coverage of the state of the union address. that starts at 9:00 p.m. eastern. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." let's check those markets now. bad day for the chinese markets, better day in europe and the united states. abigail doolittle, over to you. abigail: take a look at the u.s. the s&p 500 up 1.2 percent after falling nearly 2% on friday, the worst day in quite some time, and

michel barnier, the chief negotiator of the eu, will announce his view today as well boris johnson, buts is the going end position in the negotiations you always have a little bit of grandstanding, so it will be now 11 months to figure it out. the clock is ticking. meanwhile all out of the front pages in the uk dealing with this case, this attack on sunday in south london. and police believe the suspect, who stabbed people on a high street, had been freed from jail just days a high street, had been freed from jailjust days ago after serving a sentence for terrorism —related offences. the government saying it is going to bring forward changes to the law on the release of such people very soon. and you can understand that. sudesh amman, who was the perpetrator this time, and then we had remembered just a few months back, we had usman khan on london bridge, with exactly the same thing, had just been released early, and priti patel, the interior minister has come out and said this needs to change. so expect this to be addressed with some matter of urgency, and especially as the conservative

rules meanwhile europe's chief negotiator michel barnier says reciprocal access to fishing mortars is vital to any trade agreements they have until the end of the here to agree a new relationship well honestly as in london with a look at the differing expectations. he didn't say that he necessarily even needed a treaty you know even in summer signing up to a european union standards he said we don't need to write that down we'll just do it anyway it's sort of typical flippant approach but origins in some ways but i think the but the main thing to understand at this point is because a nurse in seven's actually started jets you go to him and michel barnier for the european side giving virtually simultaneous news conferences this morning about sort of beating their chests and putting out was what effect simply equal an opposite hard line positions so michel barnier says we europeans a man can sing the access to british waters for fishing even though he knows the brits it's as that as an idea equally boris johnson knows that the europeans want continued alignment and they continue into th

so it is very tough language from michel barnier. secondly, if you are the u.k. and hoping to protect the city, you know you are in for a big fight. vonnie: maria tadeo in brussels keep an eye on that story for us. are things to you. now we will get to fed chair jay powell testifying on capitol hill. chair powell: numbers of the committee, i am pleased to present the federal reserve's semiannual monetary policy report. my colleagues and i strongly support the goals of maximum employment and price stability that congress has set for monetary policy. congress has given us an important degree of independence to pursue these goals based solely on data and objective analysis. this independence brings with it in obligation to ask plane clearly how we pursue our goals. i will review the current economic situation before turning to monetary policy. the economic expansion is well into its 11th year. it is the longest on record. over the second half of last year, economic activity increased at a moderate pace and the labor market strengthened further. the economy appeared

michel barnier a warning that both sides need to prepare for a possible cliff edge no deal outcome atthe end of this year by mr boies johnson is firing back.

but ahead of that, at 10am, the european commission's chief negotiator michel barnier is due to giveour correspondent adam fleming is in brussels. it isa it is a morning of speeches, adam. what is going on here? what was originally the plan was that michel barnier would speak a bit later in the morning, then it turned out that was when borisjohnson would do his speech so now michel barnier is going to sneak in a bit early. he is going to sneak in a bit early. he is going to sneak in a bit early. he is going to be published —— are going to publish a draft of what is known as the mandate, the eu's detailed blueprint for what it wants to get out of the negotiations with the uk, the terms and conditions for that trade deal and it will also give us a bit ofa trade deal and it will also give us a bit of a clue about what areas they might want to prioritise in the negotiations because the eu's view is there's not enough time to cover everything so they will have to prioritise. maybe we will get some clues as well about how they see the process being structured and how it will unfold. i thin

breaks it negotiated michel barnier signaling that brussels will demand tough terms on issues such as fishing rights and a level playing field for businesses a british prime minister boris johnson says that he wants a free trade agreement but he says not at any cost the ceiling fresco and the old royal naval college provided a fitting context it was begun in the 18th century the same year another set of talks resulted in the union of england and scotland laying out his strategy johnson displaying similar self-confidence the choices in fact he can not deal or no deal we have a deal. done and he did indeed turn out as i currently prophesied to be up and ready. the question. is whether we agree a trading relationship with the e.u. comparable to canada is all more like australians. but australia's train deal with the e.u. is a work in progress so technically doesn't that mean no deal is back on the table or up attention michelle bonnie's take on london's approach was decidedly less rosy i don't think i'm sure that's why the a new commission will also prepare the situation in which we end

i don't think michel barnier think those two are equals. university in front of students and dip dutch double mass and officials, firstly that the government is not recycling from the position it's had for a couple months now, which is that it wa nts a couple months now, which is that it wants a canada style free trade agreement with the eu like the one the eu has with canada, similar to the eu has with canada, similar to the ones it has with japan or south korea, which means less onerous conditions being applied to the uk when it comes to things like competition, subsidies for business, environmental and social protection, then the eu is asking from the uk at then the eu is asking from the uk at the time. some people thought that was just the time. some people thought that wasjust an the time. some people thought that was just an opening position and over the weeks the rhetoric will die down, and the uk will be prepared to compromise. david frost says no compromising on that stuff. being able to divert and do things differently, and not ha

however the eu's chief negotiator, michel barnier, has stressed such a deal is unlikely to happen.joined by jonathan charles from the european bank for reconstruction and development. we knew these negotiations would be difficult. they begin officially in march, but macron setting out the stall from the start. these will be tough, and the french are trying to bring the french are trying to bring the eu 27 together. they want this level playing field commitment, and tough wording in there. most trade talks are about bringing countries closer together. this one is about removing what is now the deal — benefit membership of the european single market, which continues in the transition for the united kingdom — to something which is a more distant relationship, and that's always going to be very difficult, because the two sides are starting out with different visions of where they wa nt to different visions of where they want to end up. as we've said many times, the clock is ticking — the timeframe to agree all this detail is very tight indeed. do you think emmanuel macron is right, tha

their chests and putting out was what effect simply equal and opposite hard line positions so michel barnier says we europeans a man can sing the access to british waters for fishing even though he knows the brits it's as i take that as an idea equally boris johnson knows that the europeans want continued alignment and the continuation of the same sorts of standards and so to try to undermine that he gave a speech in which he said we don't need those things at all in fact he said we'd be just as happy to have either a canadian or an australian styled. well the british prime minister is also facing pressure over national security after a knife attack in south london boris johnson says his government will bring forward legislation to stop the system of automatic early release that's after a 20 year old a man was shot and killed by police after he stabbed 2 people in stratham on sunday it's emerged the attacker had left jail just a few days earlier halfway through his prison term on terrorism related offenses. but the question that everybody has about the individual concerned is what was he doi

today — borisjohnson and the eu's michel barnier each set out their opening negotiating positions.oes — there's no such thing as a free lunch. such a deal would be conditional on regulatory alignment. and borisjohnson made it equally clear that he wouldn't sign up to any deal requiring the uk to continue following eu rules. we are embarked now on a great voyage. we are ready to affirm a highly ambitious trade deal. the uk will maintain the highest standards in these areas, better, in many respects, than those of the eu without the compulsion of a treaty. the more we have common standards, the higher quality access the eu will be able to offer. the question is whether we agree a trading relationship with the eu comparable to canada's or more like australia's. the uk's answer to this question, the key questions, will be fundamental for the level of ambition for our future relationship. lots of red lines already. let's speak now to namale mackay — a former australian trade negotiator — who's in westminster. there is lots of red lines already on the paper but i suppose when you are ope

michel barnier and boris johnson speaking earlier. let's get some analysis now.en are miles and miles apart. is this just tough talk, rhetoric head of the negotiations? that's a big part of it, i think. you'd expect both sides to say exactly what they want in an ideal world. what i think is most interesting from today is that borisjohnson is already saying, here's some things we already saying, here's some things we might have to accept if we are going to achieve our goal in this. the prime minister has been absolutely clear that he doesn't think the uk should have to follow european rules when it comes to things like competition and state aid in various forms and standards. that's important because the less the uk is willing to follow some of europe's rules, the less likely it is that you'll get a fully comprehensive trade deal. yes, boris johnson talking about canada, but thatis johnson talking about canada, but that is on the other side of the world. people are worried that britain could be a big competitor on its doorstep just over the channel from france, po

at this point is because the nation's haven't actually started yet you know you've got him and michel barnier for the european side giving virtually simultaneous news conferences this morning and both sort of beating their chests and pushing out was what are effectively equal and opposite hard line positions so michel barnier says we europeans demand continued access to british waters for fishing even though he knows that bracks it has that as an idea equally boris johnson knows that the europeans want continued alignment and they continue into the same sorts of standards and so to try to undermine that he gave a speech in which he said we don't need those things at all in fact he said we'd be just as happy to have either a canadian or an australian style deal is what he says the question. is whether we agree a trading relationship with the e.u. comparable to canada's or more like strangers and i have no doubt that in either case the u.k. will prosper mightily in of course a. new relationship with our closest neighbors who range far beyond trade how are officials explaining the obvious fact t

still while saying it's unwilling to accept that you rule book but the these top negotiator michel barnier told the european parliament on tuesday. his counterparts shouldn't kikid themselves. the black sheep breck said cannot be business as usual. rubrics brexit means that british financial services are losing their financial passport initial switch to it there's no mutual recognition local chicago brexit means that in all circumstances we will impose controls on all goods entering the single market from the first of january. as we do with all third countries all over the world will be killed you mold. a chicken on the day's trading action now the major european indices closed higher the dax gaining nearly 1% the checkout about two thirds. travel sector led gains up nearly 2% across europe. more muted session for wall street moves in the dow jones turning down slightly to close flat there at e. s. p. five hundred nasdaq each managing slightly- slight gains there and new records on the clothes. shares a sports company under armor plunged 18% is it warm sales could drop by as much as sixty

but the eu's chief negotiator, michel barnier, offered a contrasting view.tyle scenario, he said, all uk goods entering the eu would need to comply with its rules and standards. in the commons, mps got the chance to ask the foreign secretary about the uk's negotiating position. the most important thing about 2020 is that having left the eu at the start of it, at the end of it we will fully and with complete certainty regain complete economic and political independence. that's when the transition period ends and it will not be extended. we will have a new relationship with the eu as sovereign equals based on free trade. between now and the end of the year we will work with the eu to negotiate a free—trade agreement drawing on other recent agreements like the one between the eu and canada. but the opposition parties had concerns. is that new relationship going to be determined by the economic interests of our country or by the ideological commitment to break with the european social model that drove so many of the brexit enthusiasts? i was sorry to see that to

the european union's chief brexit negotiator, michel barnier, has insisted that britain can't have athe eu. his comment today follows a speech in brussels last night by his uk counterpart, david frost, who asked repeatedly for britain to be treated like the eu's other trading partners. canada enjoys mostly tariff—free trade with the eu, but with fewer constraints than brussels wants to impose on the uk. the biggest names in the music industry have gathered for the 40th brit awards ceremony this evening. lewis ca paldi, stormzy and billie eilish were among the winners, but the night will be remembered for some political performances, notably by the rapper dave. in a powerful performance of his song black he paid tribute to the grenfell tower victims, criticised the british media's treatment of the duchess of sussex and called the prime minister a racist. david sillito reports. welcome to the brits awards 2020... welcome to the brits awards 2020... welcome to the 40th brits awards. the big winner tonight... lewis capaldi, popular, but his brief speech led to a pressing of the mute butt

s negotiator michel barnier said the e.u. would demand tough terms on issues like fishing rights and a level playing field for businesses. but the up to do you could do the shuffle. we need to continue to add there to europe's societal rules and regulatory modelling the future paul would seek to dies. there is no need for a free trade agreement to involve accepting e.u. rules on competition policy subsidies social protection the environment or anything similar any more than the e.u. should be obliged to accept u.k. rules. for more on the story we can speak to the matches who is standing by for us and brussels tell us more about what we heard from both and johnson and laying out their strategy. really no surprise on the part of brian year and that is something here for sized himself when he said look what we offer the u.k. now has been already written down in this document that was attached to the divorce deal that is on the table and that's been signed by both sides it's called the political declaration and in the declaration

also on monday, the eu chief brexit negotiator michel barnier will set out a draft of their negotiatingthe eu member states until the end of this month, meaning the actual negotiations between the uk and that you are not likely to start until march. chris, thank you. a mother and her son have appeared in court charged in relation to the burglary of entrepreneur and heiress tamara ecclestone. jewellery believed to be valued at around £50 million was stolen from the daugher of bernie ecclestone at her london home in december. 47—year—old maria mester and 29—year—old emil—bogdan savastru will appear in court again later this month. emergency crews dealing with a major fire at a bakery in west yorkshire have told people living nearby to keep their doors and windows closed in case asbestos is escaping. around 140 firefighters have been tackling the blaze in wakefield, which broke out early this afternoon. president trump is set to be acquitted next week at his impeachment trial after the senate, which has a republican majority, voted against calling witnesses. 0ne senior democrat accused rep

the man on the other side from michel barnier. much tougher on the uk than it has been onjapan, south korea or canada when they got trade deals, and that is just not fair from trade deals, and that is just not fairfrom a british perspective, to which the eu will probably say fairness has got nothing to do with it. adam, many thanks. the time is quarter past one. our top story this lunchtime... hundreds of flood warnings are still in place after storm dennis brings misery and travel chaos across the uk and coming up, pebbles on the beach — except these ones are made of plastic. coming up on bbc news: harry gregg, survivor of the munich air disaster, has died at the age of 87. he was one of the busby babes at manchester united and won 25 caps for northern ireland. it's 18 years since more than 200 people were killed in bombings on the holiday island of bali, many of them british. a local militant group with links to al-qaeda carried out the attacks. well, since then, the indonesian authorities have been trying a unique programme of

room yeah exactly i couldn't exactly say what you know the details of of between johnson and michel barnier the but i saw mention he does have a lot of. cards he can still still use he can always ask for that extension if if trade talks aren't you know progressing is as well as they might be but mark carney i think came out there the week and said that it wouldn't be in the interest necessarily of the of the to necessarily line too closely with with the e.u. . possible another big big trade deal that the judge who would like to go over the line this year i would imagine was would be one with the u.s. as well what's your take on the question of learning with the rules because if you have is there any point at all in negotiations if there is you know the u.k. saying a 100 they're not prepared to do a line in the usa you have to. well i think you know part of this is you know a negotiation of brinkmanship you know where both sides set up quite extreme positions but if you look at training gauche asians train to go she is often there is a compromise in the end so you know although we have been

regulations but the chief brings that negotiator michel barnier so london must remain aligned with the blocs rules. china has opened a new hospital and why it took around 10 days to build and is designed to cope with a surging number of coronavirus patients in the city over 360 people have died since an al break began there at the start of the year. turkey has launched retaliatory attacks on syrian government targets in rebel held it live province it comes after 4 turkish troops were killed by syrian shelling on monday turkish president. says dozens of syrian troops died in the fighting. us democratic presidential hopefuls have been making their final push for votes ahead of monday's iowa caucuses on democratic voters in the state will be the force to decide who should face republican donald trump in november's presidential election. this is you know we news from bowen for more follow us on twitter and you know years or visit our website that steve w. dot com. coming up our science show tomorrow today reveals how spending time with cows can benefit human health don't forget you can get

today, michel barnier, will put out those red lights from the european union. thank you very much. this is bloomberg. ♪ amazon prime video is on xfinity x1. so when you say words like, "show me best of prime video" into this, you'll see awesome stuff like this. discover prime originals like, the emmy award winning the marvelous mrs. maisel, tom clancy's jack ryan, and the man in the high castle. all in the same place as your live tv. it's all included with your amazon prime membership. that's how xfinity makes tv... simple. easy. awesome. ♪ i'm feeing good right now [ fast-paced drumming ] >> welcome to "bloomberg markets the european open." i'm anna edwards alongside matt miller in berlin. don't look down. chinese markets are smashed from stocks to ethics and commodities as well. -- fx and commodities as well. cash trade is less than an hour away.

the eu's chief negotiator, michel barnier, says that the eu wants a close trading relationship with thein having ‘unfair competitive adva ntages'. here's our political editor, laura kuenssberg. this sight stood watch over our fortunes for more than 300 years — triumphs of the 18th century captured flamboyantly on the ceiling of the royal naval college by the thames... this is it. this is the newly forged united kingdom. ..looking down on the prime minister hoping for his own glory. we've made a choice. we want a comprehensive free trade agreement similar to canada's. but in the unlikely event that we do not succeed, then our trade will have to be based on our existing withdrawal agreement with the eu. that could mean taxes on imports and customs checks. more autonomy for the uk, though, and a clear "no" to being bound by eu rules. dispel the absurd caricature of britain as a nation bent on the slash and burn of workers' rights and environmental protection, as if we are saved from dickensian squalor only by enlightened eu regulation, as if it was only thanks to brussels that we are not p

affairs council on tuesday morning will form the basis for future negotiations, to be led by michel barniert in london, for the start of an extradition hearing on whether to send him to the us to face prosecution. the court heard that documents published by wikileaks revealed the names of sources who then disappeared after he put them at risk. his lawyer said the charges were politically motivated by the us. the authorities in brazil say 147 people have been murdered in the state of ceara in the first five days of a military police strike. the homicide rate is five times higher than usual, despite the deployment of the army to patrol the streets. the violence has led to the cancellation of carnival festivities in several cities kobe bryant's widow is suing the owner of the helicopter which crashed last month, killing her husband and 13—year—old daughter, along with seven other people. that news broke as fans of the nba star attended a memorial service at the staples arena, home to the la lakers. beyonce performed one of kobe bryant's favourite songs, with a choir, and wore a gold suit, colo

affairs council on tuesday morning will be the basis for future negotiations, to be carried out by michel barnier later to discuss the government's opening stance for negotiations. the norweigen oil giant equinor has scrapped controversial plans to drill in the great australian bight. environmentalists are hailing the decision as huge win, with the stretch of coastline in south australia said to be one of the most unspoiled marine environments in the world. australia's government said the withdrawal was disappointing. juul is quitting indonesia — the world's fourth most populous nation — because it says it can't stop retailers from selling its e—cigarettes to young people in what is a largely unregulated market. it faces mounting legal and regulatory problems in the us over its role in the nation's youth vaping epidemic. time now for our daily look at some of the newspaper and website stories which have caught our eye. joining me is maike curry, director of fidelity international. welcome to you, good to see you, as a. we are starting with more about the coronavirus, specifically japan. tell as m

we're expected to hear from michel barnier something slightly opposite of that.you move away from the e.u. status, the more difficult it is to get that trade deal done. he'll also say these are things the e.u. agreed to in the declaration. you remember that document added to the withdrawal agreement, which both sides said they would agree to a fair relationship after brexit. isre's two issues here, one how closely aligned to you want to stay to the you? what does that mean in terms of the time i going forward? we know this is a tight deadline, talking about 11 months. but is less than that. the europeans only get serious about the negotiation and march, and the and principal engine, both sides would need to agree they want more time to negotiate this deal. much, maria very tadeo in brussels. us.n harvey is still with i'm interested to see the way the narrative has changed a little over the weekend from number 10, a lot of talk talking about how they would walk away from a deal. interesting they tried to get rid of the cliff edge by this year, sang is not the choi

borisjohnson and the eu's chief negotiator, michel barnier, are due to set out what they hope to achievetwo sides have until the end of the year to agree to a deal. well, the prime minister is thought to be prepared to accept a ca nada—style arrangement. canada's free—trade deal with the eu is known as the comprehensive economic and trade agreement and it took seven years to negotiate. most, but not all, of the agreement is in force. but what does it do? the deal eliminates 98% of all tariffs on goods traded between canada and the eu. most were removed when the agreement came into force in 2017 and all tariffs will disappear after seven yea rs. the eu and canada have opened up public contracts to one another which means canadian companies can pitch to build french railways while spanish builders can bid to construct schools in canada. but the agreement does not fully remove regulatory barriers as canada is not a member of the single market which means its products are still subject to border checks. as the agreement is not a customs union or a single market, canada and the eu are both fr

let's wait and see what happens with the negotiations overfishing for the last few months because michel barniero european waters. i remember the previous brexit secratary david davis saying to me he wasn't in the business of making spanish and french fishermen redundant, so let's have a reality check with fishing. a final point, people will be interested to see this vision being painted through, you are going to have your own scottish military forces. you say you will spend 1.6% of gdp on them. that doesn't even meet the nato requirement for 2% of gdp and if one actually works through what it would mean, you wouldn't be able to afford what you have promised, a 15,000 strong army and all sorts of naval vessels, antisubmarine capability, you wouldn't be able to afford it. you are referring to historical figures and we will make an offer for our defence capabilities when we come to the independence period and when we're putting that in front of the people of scotland, but we will take responsibilities seriously and we will make sure we have investment both in our navy, our air force and in our arm

michel barnier is warning that there will be no trade deal unless the u.k. the bloc's demands on fishing. global news 24 hours a day on air and on quicktake by powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. romaine: first it was a trade war, now it is the coronavirus that maybe solidifying opinions. let's bring in bloomberg opinion columnist brooke sutherland. the past used, for three decades or so, we created where wely chain, could get things from china or some other country relatively quickly, cheaply. a lot of people seem to be questioning whether that is still wise. brooke: you have to think about why we did that in the first place. efficiency and cost savings. we are now finding out that it is not always the most productive. we should not put all of the supply chain on china, which i think it's very valid. the shifts into vietnam, there were some grumblings in the trump ministration about this flow of goods going to vietnam. of them claim they are localized, but the fact that you did see

they want some time right and david phantom of the european union's chief pressing negotiator michel barnier monday he warned that it would only this whole process would only ever me an exercise in damage limitation. well i think that's certainly the european union's view and i think that would be widely shared beyond the european union as well i think what you've got with great is a whole series of significant challenges in some respects getting out of the e.u. has been the really easy bit now you've actually got to piece together the relationship build up the range of trade and other agreements so you can get the level of continued cooperation that you actually want and i think this is as was indicated earlier going to take a considerable amount of time i think is actually naive to assume this can be done in 11 months would be totally unprecedented particularly when you're on top of the time machine you've got the big differences between the u.k. and the e.u. on some quite fundamental issues if we look at the way in which the e.u. concludes its trade agreements with other countries it's al

a brief response from the eu's chief negotiator, michel barnier, saying it would stick to all prior commitmentsdeal. the government prioritising sovereignty and full control over demands of industry, which is being told to prepare for changes that will come to its business with the rest of europe. faisal islam, bbc news. the u.k.'s entry the u. k.'s entry for the u.k.'s entry for eurovision this year is james newman. he will represent britain in rotterdam in may. he has worked with some of the biggest names in music including ed shearon. the song was selected by the bbc and record company executives after previous entries chosen by the public failed to impress eurovisionjudges. chosen by the public failed to impress eurovision judges. # chosen by the public failed to impress eurovisionjudges. # if you had nothing left # i would give you my last breath. let's have a look now at the weather. as we draw to the end of the meteorological winter at long last summer in the south had their first site of snow. but the story is about the rain. the ground is still saturated, the rivers are still high and

a brief response from the eu's chief negotiator, michel barnier, saying it would stick to all prior commitmentst year's deal. the government prioritising sovereignty and full control over demands of industry, which is being told to prepare for changes that will come to its business with the rest of europe. faisal islam, bbc news. the time is 17 minutes past six. our top story this evening: plans for another runway at heathrow airport are in disarray after a court says they are unlawful. because they are unlawful. they failed to take climate commitments because they failed to take climate commitments into account. and still to come: training under the watchful eye of the club's owner, as david beckham's latest venture inter miami has their first match this weekend. on sportsday in the next 15 minutes: four british sides aiming to join rangers in the last 16 of the europa league. we'll have the latest on wolves and preview celtic, arsenal and manchester united's matches. flood—hit communities along the river severn in shopshire and worcestershire have been warned to expect another ten days of dif