mr. brexit over there, and i predicted it and called it and i took such heat you wouldn't believe it, and i said i would think it was pass and i own a lot of property in the uk, and they asked me two weeks before when it was not fashionable and i said i think it will pass because people want independence and they are tired of taking in people from other places that want to blow them up, and i thought it would pass and obama said if they passes they are going to the back of the line, which i think helped it pass, if you want to know the truth. you know, that the way it is. they wanted independence. i think it was very smart. i think the uk is going to do better because of it, and the whole thing with the -- you know, tying it all up like that, it has been a terrible thing. i needed certain approvals on a job, and i couldn't -- i could get them from the country but i couldn't get them -- nationally it was impossible to get anything approved and it was horrible, and the uk wanted independence and they got it, you know, i think they will be better off for it. it's a very short period of time

francine: what does brexit mean for banks here or banks with a lot of exposure to london or the u.k. in general? mrefore the referendum that most banks supported remain. now, we have had a democratic vote and it is brexit. i can talk about us. a planast year, we had to reduce our footprint in london. we have about 2000 jobs in london. we wanted to deemphasize london. we are not very much impacted by the passporting issue. only 15%-20% of what we do here would be impacted by that. we are in a relatively reasonable position for that. and we just have to wait. we just don't know what shape britain is going to take. there is speculation on when article 50 may be cleared. between a hard brexit, a soft brexit, there are many variations. there can be an impact on passporting and the free movement of people. i think we have to wait. francine: could dublin be the new london post-brexit? mr. thiam: we have a big operation in dublin. we have transferred a lot of our prime services to dublin. we are well-positioned. we also have a big platform and luxembourg -- in luxembourg. we have also transferred a lot of

brexit will be a big deal. erik: define big deal. mr. initially, the uk has benefited the weakening of the sterling. we have not even begun the whole concept of brexit. the prime minister suggested that she may apply for article 50 at the end of the first quarter, second quarter. there is time. there would be a lot of noise around that. from what i hear, talking to ceo's in the uk, they are not incrementally hiring. they are not incrementally planning to invest in the uk until there is more certainty. so, i do believe that brexit will be a big deal. it will have egg consequences -- big consequences in the u k, depending on how the negotiation goes. you suggested the italian referendum. this is serious for europe and italy. if the referendum goes against the prime minister, and there will be greater uncertainty with prime minister renzi, which, in itself, is destabilizing. we witnessed in germany, chancellor merkel losing some of her power. i think she has regained it in the last few days. obviously, her coalition has changed quite a bit t

mr. speaker, there is very real concern and worry about the prospect of brexit but the majority of people remain within. the u.k. government has had all summer to come up with a plan, to come up with the strategy. can i ask the prime minister a simple question that's quite important. she was the u.k. to remain within the single market. >> what i want for the u.k. is put into place, and to practice the vote taken by the u.k. people of the united kingdom, that we get the right deal for the trading goods and services in a new relationship and that we also introduced control from the european union into the united kingdom. i say to the right honorable gentleman that we can approach those that the approach in two ways. if sector referenda your respect the views of the british people. but more than that, we will be seizing the opportunities to live in the european union now the european union now scared us the role of the united kingdom in the world. >> we respect the views of the people in scotland -- [inaudible] >> one must be heard and will be heard. >> and the monsters to do monsters to the

mr. brexit himself, will have something to say about that.e top of the hour. we're also talking about something hillary said at the debate that's getting very little play in the mainstream media. remember this? >> lester, i think implicit bias is a problem for everyone, not just police. i think, unfortunately, too many of us in our great country jump to conclusions about each other. ashley: well, she says we're all inherently racist. well, we have someone who says hillary doesn't have the temperament to be president. >>> also, a congressman asking the wells fargo ceo why he shouldn't be in jail, why he shouldn't be in jail. listen to this. >> your problem is coming. it's not today. you think today's tough? it's coming. when the prosecutors get ahold of you, you're going to have a lot of fun. be. ashley: well, that congressman will be joining stuart next hour, and you can be sure there's a good chancefireworks will ensue. plus, attorney hyten ashcroft endorsed donald trump, but first, why the attorney general of texas is suing to keep control

brexit vote. what have we learned in the last eight weeks? mr. of course the brexit created an element of uncertainty, which is important both for the u.k., for the eu area, and for the european union as a whole, and also for the world. i was reading what the imf had imagined as a consequence of the brexit even at a global level. i would say them as it would be, let's clarify the situation and have certainty on the process as soon as possible. that is absolutely clear. uncertainty is the enemy of growth and job creation in all economies, not only the european economies, but the global economy. francine: what will the impact of protracted brexit negotiations be on the european economy and european stability? on thechet: depending process, depending on the duration of the process, depending on the way the u.k. will decide to pursue its own negotiations, of course you might have a long period of uncertainty, which is hampering investment, hampering all decisions by household as well as entrepreneurs, as well as firms, corporate businesses, and so fo

mr. brexit advances led to present at europe. ut hillary calling americans to poor blood races. that is exactly what they said about him when he was organizing the brexit. terrifying flight from the u.k. to italy. a migraine on board yelling several times, telling passengers they will die. they try to pretend the incident never happened. we will tell you about it. back in a moment. stuart: dallas turned around and we are now up 58 points on the dow industrial average. we are up 60 points, going up as we speak. alibaba is down this morning. not quite sure why, but it's down a little bit and retreating. some of the names we check every day. twitter is an $18 a share going nowhere. 98 now up this morning. go pro, used to call it a one trick pony. it is up 2.5%. tesla says they will fix the autopilot problem and had they done it earlier would fix the problem earlier this year. getting close to $200 a share. over the weekend, hillary clinton called trump supporters a basket of deplorable is. racist, sexist, since enough votes. sunday,

billionaire republican presented nominee happened to be in the united kingdom today and reacted to brexit. mr see a parallel between what happened in the united states, and what happened here. mr. trump: saddam hussein was a bad guy, but he killed terrorists. thing has gotten as much attention as the stuff he said about hillary clinton and e-mails. >> speculation has reached critical mass. there are a lot of news outlets, including cbs news, reporting pence is the choice for trump. he is a steady influence. a policy guy. the opposite of trump in a lot of ways. that will reassure people. >> i have a great deal of respect for john mccain. >> did he go too far? mr. trump: you can say yes. theor a lot of people, performance on "60 minutes" was cringe-inducing, because mike pence was saying things about various issues he clearly did not believe. >> melania's speech. twitter says she copied michelle obama. >>>> this has a lot of republicans concerned. they have done nothing to turn the page on a narrative that is killing them. >> stand and speak and vote your conscience. >> everyone is still talkin

mr. speaker, there is very real concern and worry about the prospect of brexit but the majority of people remain within. the u.k. government has had all summer to come up with a plan, to come up with the strategy. can i ask the prime minister a simple question that's quite important. she was the u.k. to remain within the single market. >> what i want for the u.k. is put into place, and to practice the vote taken by the u.k. people of the united kingdom, that we get the right deal for the trading goods and services in a new relationship and that we also introduced control from the european union into the united kingdom. i say to the right honorable gentleman that we can approach those that the approach in two ways. if sector referenda your respect the views of the british people. but more than that, we will be seizing the opportunities to live in the european union now the european union now scared us the role of the united kingdom in the world. >> we respect the views of the people in scotland -- [inaudible] >> one must be heard and will be heard. >> and the monsters to do monsters to the

mr. dimon: collaboration works. if you go around the country, it works in all the cities, all these states. it is here, for some reason, we get bogged down. europe.entioned you were quoted before the brexitaying maybe would have to move people out of london. do have new thoughts on that? mr. dimon: brexit is a vote for the unknown that we thought would reduce the gdp of the u.k. -- it is going to. it is pretty much going to foreign direct investment, people opening factories. it is not a disaster. we think 1%-.5%. that is one thing we know. the second is this mound of uncertainty. it is not going to go away. you will be reading, for the next year or two years, about the complexity. we do not know the outcome. the best case, i give it 10%. the euro is angry and they want to keep it together. they say that you will not have free access of markets without free movement of people. that is exactly why the people voted against it. their logic was why tether yourself? thatum was passing rules affected british citizens. that was true. fors fix the problems everybody, all 27 nations, not just britain. what worries me the most about brings it is a cause of the eurozone to unravel. you have a refer

and he just so happened to be in the united kingdom today, he reacted to the brexit news. mr.e a parallel between what is happening in the u.s. and here. saddam hussein was a bad guy, but you know what he did well? he killed terrorists. >> the saddam thing has gotten as much attention as clintons e-mails. >> there is speculation that has reached critical mass today. a lot of news outlets reporting pence is the choice for trump. he is the opposite of trump and -- in a lot of ways, and that will reassure people. >> i have a great deal of respect for john mccain. >> clearly this man is not a politician. >> for a lot of people his performance on 60 minutes was cringe-inducing because you have mike pence saying these things about issues he does not clearly believe. >> the twitter session of copying michelle obama. >> this has republicans concerned about the competence of the campaign. they have done nothing to turn the page on a narrative which is killing us. >> speak and vote your conscience. >> everyone talking about the fallout from last night, ted cruz's endorsement-less speech

. >> the presumptive republican nominee reacted to the brexit news. mr.i really do see a parallel between what is happening in the united states and what is happening here. saddam hussein was a bad guy. right? but do you know what he did well? he killed terrorists. john: it got as much, if not more, attention than the stuff he has said about hillary. mark: in the republican veepstakes, people are reporting pence is the choice for trump. he is a steady influence. he is a policy guy. he is the opposite of trump in a lot of ways. that will reassure people. governor pence: i have a great deal of respect for john mccain. >> do you think he went too far? mr. trump: you can say yes. it's ok. you can say yes. governor pence: clearly this man is not a politician. john: for a lot of people the performance of the two of them on "60 minutes" was cringe inducing because you have mike pence saying these things about issues he does not clearly believe. >> she copied michelle obama. mark: this has a lot of republicans back to being concerned about the competence of the c

guy, explain to me brexit. mr. cameron is going to leave parliament, right?in the last 48 hours. guy: i think his sense is that the former party leaders, prime ministers, do not operate well from the back benches. they cannot operate from the back benches. so he is saying his usefulness is limited, but nevertheless, he clearly is in a situation where he had to walk away. it was not the result that he wanted. tom: let's talk about the ultimate backbench and bring it back to the white house with president clinton. explain to me the dynamic we are going to see if hillary clinton wins the first week of november. ken: i do not know, tom, -- roger: i do not know, tom, what former president clinton's role will be. i am sure it is a meaningful one, though, because he is such a talent, arguably one of the greatest political talents in 50 years or more in this country. i have not heard any word as to what that will be. tom: roger altman is with us, and ken rogoff as well. 's book is "thef curse of cash." we will talk about global wall street and mergers and acquisition

brexit. he spoke to bloomberg. mr.decommission has been very clear that for moments within the eu internal market, there cannot be cherry picking like free moment of capital but not free moment of labor. nejra: meanwhile, british prime minister theresa may has ruled out a went-based immigration -- a points-based immigration system for the u.k. she also said the details of controls on eu nationals have not yet been decided. earlier, speaking to the bbc's britisharks, she said rejects free labor from europe to the u.k.. pm may: was leaving the european ,nion does enable us to do which is they do not want free movement to continue in a way it has done in the past. they do want to control moving in from the european union. people also want to see job opportunities, to see the economic opportunities, to get a good deal and trading goods and services is also a big importance for us. nejra: samson's recall of millions of big screen smartphones is not going to be cheap. the south korean company may spend as much as $1 billion

we have various politicians saying various things about brexit, and will have a very bad brexit week. manus: mr, the governor of the bank of england, talking about scotland and confident it will be adjusting well. also saying that the english economy, there is a positive long-term prospect for the u.k. -- excuse me the u.k. economy. 250.s talk about the in my being unfair to mr. carney? [laughter] bloomberg me now. i am on chat. the pound was down, 250 was trashed, commercial property was battered. you are rather moderately optimistic on the 250. is it the domestic play? not brexit levels. 250: three main locations, there about 14%. property funds about 14%, sterling down 14%. sterling is back, but if you buy into the scenario that the u.k. will come through, 250 is still an interesting place to invest. but sterling, the portfolio what we are doing the most, going against the crowd and buying a bit of sterling. cutting back -- manus: euro sterling of cable? dollar,erling yen, everywhere building it up. also, you have a nice impact. we know it is a very short sterling, a short run story there. n

today's announcement comes less than three months after he as prime minister following the brexit vote. mr everything will become a big distraction and a version from what the governor -- diversion from what the government needs to do for the country. i support theresa may, and i don't want to be that distraction. cameron's departure will call for a special election for his seat. carrying refugees were intercepted off the coast of the a g and c. most were from syria and afghanistan -- agean sea. syria andfrom afghanistan. i am mark crumpton. this is bloomberg. scarlet, back to you. scarlet: are gets have recovered from friday's selloff. stop -- markets have recovered from friday's selloff. abigail doolittle has more. abigail: a rebound from friday's selloff. since july 8. it is a broad-based rally, all sectors trading higher. in fact, on the nasdaq 100, only two stocks are trading lower, to give you an idea of how strong this rally is. as for the biggest boost, it's all about apple. it appears different analysts are really influencing the stock. we had bullish comments that apple has a big

brexit going? the government probably doesn't know, but you must have contingency plans. mr.a: the impact on us is pretty modest. i think what we need from the government is a certainty of timeframe. i think it is entirely appropriate they haven't invoked article 50 yet. we need to take some time. we need to take a deep breath, to sort out what the plan is. the answers are going to be different for different industries. i'm impressed. we've got a new prime minister, we've got people in place. that is some degree of certainty. markets crave certainty. francine: are you worried that london will stop being one of the financial capitals of the world? mark: not at all. london is the home of things like insurance. for us it doesn't make much difference. london has great labor laws. it is a great place to live. it has all the systems. that, io unwind all of think is a pretty tall order. francine: what do you need from the government? mark: i think what the investment market and us want is certainty. you can get that certainty of a time frame. article 50 hasn't been invoked. then you

brexit will be a big deal. erik: define big deal. mr. k has benefited the weakening of the sterling. we have not even begun the whole concept of brexit. the prime minister suggested that she may apply for article of the first quarter, second quarter. there is time. there would be a lot of noise around that. from what i hear, talking to ceo's in the uk, they are not incrementally hiring. they are not incrementally planning to invest in the uk until there is more certainty. so, i do believe that brexit will be a big deal. consequences -- big consequences in the u k, depending on how the negotiation goes. you suggested the italian referendum. this is serious for europe and italy. if the referendum goes against the prime minister, and there will be greater uncertainty with prime minister renzi, which, in itself, is destabilizing. we witnessed in germany, chancellor merkel losing some of her power. i think she has regained it in the last few days. obviously, her coalition has changed quite a bit through these elections. so, i would argue we ar

brexit. what we understand from sources inside downing street is the prime minister will say the u.k. will continue to play a full role in the u.k. undulate leaves. mr on twitter saying that it is in everybody's best interest to start brexit talks asap. this we understand is not what prime minister may wants. we will get more on brexit and on this meeting later on. first let's get to the bloomberg first word news with nejra cehic. nejra: apple has announced updates to the iphone in the watch. the line includes camera upgrades, a faster processor, longer battery life, and water distant -- water resistant design. ceo tim cook called it the best iphone ever created, but others weren't so enthused, with shares rising less than 1%. the cost of borrowing yuan in hong kong has surged to a seven-month high on the speculation that china central bank is intervening. the overnight hong kong interbank offered rate climbed 3.88 percentage points, the most expensive since february. japan's economy is showing signs of life. 0.7% inby an annualized the second quarter, more than the initial reading of 0.2%. this gives the boj something to think about. at the meeting

mr. juncker at how can the european union truly get together in the wake of the brexit, which so shook the union to its core? >> i think jean-claude juncker was clear about that. how, and there are several issues. the first one is to have political will. the commission is determined to show political will and to continue and to ask for more endorsements from all european leaders to say now we have a project, the project is building the european union, and we should do that together. we should stop with having only national success. two big directions to go. , tois to prepare the future prepare the future by developing investment in europe. a good investment plan europe that is successful. there are already success stories. he decided to double in a month this investment plan. the idea is to invest by 2020 investment in europe. in europehuge program that has the capacity to address the future. second direction is protection, a europe that protects. that is perhaps one of the keywords of his speech. a europe that protects against , inorism, you will particular he insisted on the fact that in

mr. gorman did not list brexit among his three risks. profilers, do they see brexit as a risk? simon: four bridges domiciles, clients who have a large amount of assets in other countries, it wasn't necessarily an issue. the clients i talked to have businesses in the united kingdom and they are surprised that brexit hasn't had a greater impact with respect to retail demand and real estate prices. the key impact of brexit has been a greater availability of high quality real estate which was previously hard to get one's hands on. the political risk though, the guys i talked to focus more in europe on any one of the range of elections coming up in the next year. he still have a government in spain. we have a referendum coming up and next year's german election. jonathan: can you talk about the risk in safety and high net they clients -- are usually ultraconservative? are you warning them of the risk of the traditionally conservative way of investing? can you walk me through that? simon: i think it is quite diverse in terms of geography, how

. >> mr., speaker, the prime minister and the uk government are totally unwilling to tell us the true cost of brexit and what their negotiating position will be, in contrast there's different from the european union, their new eu negotiation, i quote, scottland might be taken out of the eu when it voted to stay, doesn't she agree that the eu negotiator and the scottish government who want to protect scottland's place in europe? [shouting] >> i have to say that only two years ago he didn't want to protect scottland's place in the european union. he wanted scottland to leave the uk. and on all of these questions, whether it's the question of the referendum for leaving european union and the referendum of scottland or questions in this house t right honorable gentleman that if he asks the question every time, he will get a different answer but it won't work for me and the people. >> freedom of speech is a fundamental british value, which is undermined by so call safe spaces in our universities where a sense of righteous it -- entitlement of students shut down debate. as students around the country retu

brexit vote. we have a lot of data points we just through at you. let's put this into perspective with economist. do you think mr. carney was right to justify dovishness on monday before parliament. he says he's focusing on the longer term impact of brexit. >> it's very easy sat here now to forget the power vacuum we have in the uk immediately following the brexit vote. mark carney could step up to the plate cut interest rates signaling to the markets early on after the sloet he was going to cut interest rates and restart the quantitative easing program. we have to remember, of course, the uk remains in the european. we are not brexit. another two and a half years to go before the uk will leave the european union. a lot of the actions from the bank of england are trying to get ahead of the curve. >> there must also be some work to be done from the fiscal side and chancellor hammond poured water in hopes of a big infrastructure package. is that a big disappoint to you. >> he was testifying yesterday announced the 23 of november for the autumn statement. what he indicated wasn't so much he wasn't going to do fisca

brexit. i spoke to the finance minister of austria, he believes potentially down the line, 10, 20 years time, not as quick as mr. sarkozy, that britain could be back in a reformed and better european union, but he will speak to phillip hammond, the uk chancellor, and his message is let's get on with it. let's listen to part of that intervie interview. >> you can regret the result of the referendum but you have to accept it. the majority of people in the united kingdom make this decision. it may be an unexpected accident, but it's reality. so it's necessary that we start the procedure of article 50, and also that the united kingdom makes clear what kind of relationship they want with the european union. all the prime ministers and finance ministers said we don't leave europe, we just leave the european union. if you want a contract with the european union, you must make it clear it's a fair balance between rights and obligations. the second thing is it must be clear that an exit to the single market can only be in the case if you accept the four freedoms of the european union. that's the message we'll give to th

mr. adam posen we will be asking them whether mark carney was too soon to act in the wake of brexit.is bloomberg. ♪ francine: welcome to "the pulse." live from bloomberg's european headquarters in london, i'm francine lacqua. nejra: german factory orders increased less than forecast in july. orders adjusted for seasonal swings and inflation rose 0.2% from june. the report follows a series of data signaling that economic momentum in europe's largest economy has cooled. bayer has upped it bid for monsanto as they are prepared to offer $127 $.50 per share. if the deal goes through it would create the world's biggest producer of seeds and pesticides. in july, monsanto rejected the bid saying it was inadequate. barack obama has canceled a meeting with the president of the philippines after rodrigo duterte unleashed an expletive later of warning against the morningexpletive laden against the u.s. obama and to meet offered him some blunt advice. >> i am a president of a sovereign state and we have long ceased to be a colony. any master except the filipino people. nobody, but nobody. you mus

brexit as they consider the future of their investments. exitingncerned that will be too tough for the u.k. that if mr. raises the issue at this wii's summit at southeast asian leaders, he will swear at him. hundreds of people have been killed in police operation since he took office june 30. drugs. a war on illegal in hong kong, candidates who want a vote on the future of chinese rule have one seat in the city's legislature for the first time. voters turned out in record numbers. more than 2 million ballots were cast. it was hong kong's biggest selection since the pro-democracy protests two years ago. global news 24 hours a day, powered by more than 2600 journalists and analysts in more i am nejrauntries, cehic. this is bloomberg. mark: barclays chief executive, recording, extensively from his former employer, jpmorgan. his latest hire is jpmorgan's tim frost late. -- great to see you. who is this man? >> he was another one of jes staley's peers. he has been running jpmorgan's global equities businesses in 2012 but will take on a much wider role at barclays this time around. he will be running credit

mr. putin that is absolutely extraordinary. you have been out front on this, the idea that the euro area will shrink given brexit.is not just about the united kingdom, it's about europe as well. francine: right. but the headline i picked out -- remember, there are also sanctions against vladimir putin , there was a complicated, convoluted and unfriendly relationship between brexit and putin with david cameron saying he is the one that benefits. i don't know how much of what he but weing is rattling will have plenty more on that -- a great chat. for more in our exclusive interview with the russian president, vladimir putin, don't miss our special report on monday. this is bloomberg. ♪ tom: a crushingly busy morning for "surveillance." the conversation with vladimir putin, much more on that through the morning. job stay in america, a few other things going on. francine is in london; i'm tom keene in new york. right now, carl riccadonna quietly said, "i don't care, we will publish a bombshell." you guys came out, right? and said that there will be no september rate increase. >> right. we had the view that it is dece

but the pound saw the third biggest drop since brexit in part because of the dollar's strength. but also because of the finance minister mr. hammond said immigration restrictions may come at the cost of losing access to the single markets. so that spooked a lot of investors out there. the european markets look like this this morning, we are catching up a little bit at xetra dax at 0.80%. we are seeing gains in part because of basic resources in oil and gas are doing somewhat better on the bounce back in oil prices. plenty of focus also on algeria at the opec meeting. i want to come back to the deutsche bank. this is a notable exception to many of the bank stocks rising today. deutsche bank down 1.67%. credit suisse put an underperforming price on the stock at 13 euros on news of the very 14 billion u.s. fine continuing to put pressure on the shares that closed down over 8% on friday. now speaking to cnbc last week, the banks communication said they would appeal the penalty. take a listen. >> we know that this is a very high number. this was the case with other banks in the united states, but we saw the numbers go down sig

brexit vote. who voted to stay? young people. old people and pensioners voted to leave because they thought they lost control. mr.linton: scotland and northern ireland voted to stay. people who wanted to shut the door are doing pretty well everywhere. the ultimate nationalist, more authoritarian candidates. charlie: why is secretary clinton who has an agenda, an economic agenda, having less appeal to working-class americans than you did. they were your constituency. she has a program. donald trump is getting more of their vote. why is that? charlie: it has -- mr. clinton: it has been steadily the case. it started in the 1960's. the 1960's.n you go back and look. johnson signed the voting rights act he said i think that ended the democratic party in the south. a lot of this is cultural. she's the first woman candidate for major office. she trying to get a third term for a party -- it is difficult. and the level of difficulty with the economic and social orders all over the world is very high. charlie: you know how to speak to these people. why doesn't she? mr. clinton: she does find much to get such as. look what

mr. president, you came to london earlier this year and urged the british people not to vote for brexit andned them they'd be at the back of the queue for trade deal if they did. do you regret making that threat or are you really going to punish us for taking a democratic decision? and could i ask just quickly -- [ inaudible ] >> i work for "the daily mail." could i ask just quickly whether you've got any advice for the prime minister this autumn when she's got the pleasure of hosting donald trump in london? prime minister, can i ask whether you've had any trade reassurances from the president about your place in his queue? and could i also ask you quickly about hinckley point which you'll be discussing with president xi tomorrow? you said you'll look at all the evidence. does that include getting the national security council to look at the potential security implications? >> on the first point that you've raised, jason, we've had discussions about the importance of the trading relationship between the united kingdom and the united states. as you know, i've been very clear that following b

brexit. i'm honored to have you on the show. you put the question together with mr. cameron. timately, if we did get this outcome, -- what did you envision brexit would mean? george: we are leaving the european union. the question we have not answered yet, and the british people did not provide an answer to, is what is the new relationship with our european allies and partners? i think we should have the closest possible economic and financial relationship. as those decisions come up over the next year or two, i will be economic tiesrong with britain's principal trading partners. that in mind, do you see another referendum taking place on the basis of that to decide what kind of relationship we have with the european union after leaving it? george: the short answer to that is, no, i don't. i do not think that is at all likely. it was a britain -- huge democratic exercise. more people voted in the referendum then vote in the general election. they were clear they wanted to leave the eu. that was the only question on the ballot. the we did not put to british people and now need

mrs. clinton, they are both espousing quasi-protectionist policies. look at what europe might do in the wake of brexit rise of the right, more internalized policies. in russia, you have a protectionist economic structure. , in addition,and people are worried about what this means about political stability. you have parties beginning to dismantle the stability of countries such as germany, it would mean that investors would find it more difficult to work out how they can infest. investors -- how they can infest. -- how they can invest. anna: how do you stay away from the volatility and invest with geopolitical tension? add anobvious one is to analysis of politics into your investment. i mentioned the united states. in both cases, donald trump and hillary clinton, you will have a more protectionist policy. if you invest in europe, take on board that there will be more inward looking politics. as we heard from the ceo of siemens, take on board the fact that the outlook for globalized demand will be lower than you think. within that, there are always opportunities. anna: is there a way of staying away or

mr. davis. it's very clear that the accentuation of the fact that there is a lack of work on the possibility of post brexit, private leaders administration and cannot clearly indicate that the ball is in our court for triggering this. can i ask you, bear in mind that we have up to two years for those negotiation process, what are the delays in the article 50? >> the primary delays doing analysis necessary. i don't want to get too far into what happened before i arrived but let me say this. the be quite difficult for the government to do the level of analysis that we are undertaking. it is enormous. . . >> >> and most people did not know what it was like in august. >> with that material. but the french government said they wanted to precipitate that. so the commission has said the with that negotiation but the counter to this note but to give you the of parallel. and with the 25 people. and they need to work out for themselves with those negotiating the request are. >> and maybe we should have made an offer in this area. so we are better off. it is not a shortage of interest. but indeed for many companies i

brexit. breaking news from japan as well. manus: they want to get up early and come speak with you, anna. mr. corona, he is not -- mr.the tape. pursuing easing any more forceful manner under the new regime, which we understand is targeting the you curve -- the u-curve. policy judgment should be based on economic impact on the old, and that he will keep making the up efforts to reach the price target. this all goes back to the announcement last thursday were the bank of japan said they are targeting the u-curve. to pursue easing in a more forceful manner under the new regime. dollar yen has not even blipped on this. no real reaction, as it were, in the currency market thus far. kuroda doubling down in verbal interventions. we are relentlessly pursuing innovation, those lights coming from the head of the bank of japan. hardly effective to make a modest price commitment. let us return to brexit. anna mentioned the survey. kpmg e survey. that is according to a survey, 100 business leaders, on the accountancy firm kpmg. 69% said they are confident rich in's economy will continue to britain's economy will continue to grow.

brexit. >> despite the turbulence of political events over the last several months, we have every intention of making sure that that continues. >> and turkish president erdogan and mr. obama said they will work to make sure those behind the failed coup in turkey is brought to justice. >> our military, law enforcement cooperation has helped push isol back. we now need to finish the job. >> let's talk more about this. white house correspondent michelle ka sosinski is standin by. i want to hear about the meeting, press conference between president erdogan and president barack obama. it must have been tense or awkward meeting only because we know the u.s., of course, needs turkey. at the same time the two countries have their differences. >> reporter: yeah. you know, we never know exactly how things are discussed behind closed doors, we just see this outcome where both sides want to really highlight the agreement, want to really make their statements in some cases to make the other side feel better about the very real tensions that everybody knows are there. here we saw president obama really talking up how much the u.s. stands behind turkey. he talked about the condem

brexit from norway. our exclusive interview with the leader of the labour party. ♪ francine: u.k. labor party jeremy corbyn is looking to norway. take a listen to anna edwards' exclusive interview. mrwe need to set out what the negotiating position is first. the government hasn't done last. we've had various conflicting statements between the secretary and the prime minister. is,position we set out there must be access to european markets for this country. we have a great deal of industry investment. rightsy, the workers' that have been enshrined in the social chapter such as working leave,rective, four paid maternity leave, maternity leave, antidiscrimination legislation, all those must be absolutely enshrined. anna: you sent out a lot of red lines. mr. corbyn: there's more. anna: first quarter of next year? mr. corbyn: i would have thought the government would probably set out a clear position now, i hope, in this autumn, and have those talks with the european union and other governments. we are doing the same with governments and opposition across europe. emily thornberry is going to norway to look at their model. anna: you've talked about wanting to be fully informed, no backro

mr. trump are doing? rupert: i don't want to say this, that it has echoes of the feeling we had during the brexit campaignth an assumption amongst people that it will be fine, hillary clinton will win. similar feelings ahead of the brexit vote. you cannot assume that. it is very close. you have big events coming up like this debate on monday. we have no idea how these two candidates will come across when they're sending next to each other. that is a big unknown. you have to see this as essentially a 50-50 outcome over which we have very little insight. francine: what does a donald trump presidency mean? issue. it is a slow burn prospects for trade are negative. that is already the case. it is hard to see much progress happening around the world entree. i think the initial reaction would be a risk off reaction because he is a huge unknown. if the main impact of donald trump in office was a fiscal expansion, a tax cut, that could be positive for risk in the medium-term. edge.hard to have an tom: thank you very much. rupert harrison from black rock with us today. it is the ultimate friday interview. charles

brexit rally in the united states? our next guest says there is still plenty of opportunity to be found. it's now across the pond. kevin o'leary, mrerful, joins us from toronto. it's great to have you back on fast money. your bullish europe you've been bullish europe. have you increased your position in europe? >> i have. because in the last 48 hours, we've all learned something new. we're debating the fed moving in september and december which generally in its initial move would be negative for our indexes, the first meeting where british assets are known to be leaving the e.u. happened. the rest of the e.u. is very frosty to them. but they made sure they signaled something very important for all of us as equity investors. they are going to put in tremendous liquidity into the markets there. having already done so with sovereign debt. they hit corporate bonds. i'm talking about the central bank of europe buying credits, crushing the spreads, everybody that owned those during the brexit made a lot of money. for the first time i've ever seen they're discussing buying straight equities. the european bank is my partner buying equitie

brexit negotiations that jobs are not put at risk? along this a most longem serving member in the history of the house of commons. [laughter] >> mr. speaker, bill let me reassure the gentlemen that the negotiations are looking to assure that we will see the growth of jobs and prosperity in relation to the european union and the trade deals that we can do around the of rest of the world. that is where we're focusing our efforts. >> may i think of prime minister that it will be the call of bread dish -- british strategy after t13 in union also how we maitre own country great but i will add two things to her list. can reestablish the british position of the multilateral trade services agreement rex also to have a conversation how we can use this opportunity to enhance the agreement through the year 2013. >>noes.. there is a good point there and certainly international development will look at those issues that he has raised and i can't assuree him that we're looking at every aspect what we said is t the radio but i don't think it is the only right deal but the secretary feels it libidos eating with as well. . . >> given the prime min

brexit decision and u.k. relations with europe moving forward. target and i hope to work with her to make sure we achieve that target, too. >> order. questions to the prime minister. [shouting] >> question everyone, mr >> the prime minister. >> thank you, mr. speaker. i know the low house which i mean current graduating the british

mr. yu: do you want to take on central banks -- that is the first thing. the second thing, we have had brexit, let's say there is going to be a balloon, one way or another -- central banks have compressed volatility for so long, but once in a while, you're going to have that one-off event that will release compressed volatility, which we saw with the swiss franc move and the sterling move. also, some people will be looking at that u.s. election. help me understand -- you set things up for investors wealth ubs in the management division. what happens in japan -- we get the steeper yield story, what does it mean for bond markets and what are you telling clients? mr. yu: clients are worry -- we have seen steepening in the yield curve. will it be a global phenomenon, and more poorly, what is that signal -- more importantly, what does that signal? you are seen wage growth in the u.s., and the economy recover. that is a healthy steepening. elsewhere in europe, japan, if it is stupid, even though policy is trying to push the other way, that might be something to -- deepened, even though policies tri