mr. osborne is not here today. >> whenever mr. osborne is not here, i always miss him. >> reporter: a very clear message once again from brusselss that time is of the essence and keep in mind when theresa may gets down to the business of leading negotiations with eu that will largely be cared out with juan claude ya g yunger. i had the chance to speak tom eu commission for economic affairs and asked him whether he was encouraged bid the fact that theresa may supported remain. here's what he had so say. >> it's a good signal that the process accelerates and that we have a new prime minster because as i said, there db a negative impact of brexit economically. >> when the transition is over and you can start building upon that. the brexit is a structural change for europe, and as any structural change, it needs a time period, which given the size of the structural change, needs to be large enough, long enough so that we can adjust. we need to act fast. so yes, in those respects, the nomination of theresa may is good news for the proce

mr. osborn. >> thank you for letting me speak. i had a prepared statement and too nervous to read it so will just speak from the heart. i'm a member of the lower haight community and run a business there and in the process becoming a medical marijuana dispensary. our neighborhood is plagued with crime related to drugs for decades now. as a community don't feel we were given a fair chance to know this happened. the outreach done by the company in question in our pin didn't happen-many people didn't know until recently and have been addressing it since. sorry, i'm nervous mptd . there is a elementary school about 500 feet away from this, 600 feet away from this but due to something in the planning department that is unclear to me they are not hearing about the legitimacy of the business. we are [inaudible] as a matter of community health as we have a community on the mends from years and decades of pain. we have a community that is not trusting the system currently because of things like the picture i'm passic around where 3 members

mr. osborne is going to try to do, to reinsurer -- reassure investors.we don't know if he will be chancellor come september. that is going to be the difficulty. anna: some of the things theresa may has said -- seen the fiscal backdrop of george osborne, the plan of conservatives. that has been ripped up already. that just underlines the difficulty he has in trying to assuage investors' fears. seems one market which fairly convinced that the moment you can put your money into it is the gilt market. this is the heat map of the gilt .arket what i'm interested in, citigroup wrote a note, and they are talking about the 20-year coming down, down, down in terms of yield. the market is priced for a recession. what is the statistical probability of a recession? it is not priced for qe. is sterling priced for a recession, and is sterling priced for qe? >> i don't think we are going to get a recession. i think we will have a time of excessively slow growth. adequate will have a protracted lack of economic activity over the course over the rest of this year and the

mr. osborne to talk about the big tax cut of sorts and all kinds of important developments are still to occur. i get the global view that you're giving but for those companies that have the most exposure to the english economy right now, do you take the risk now or do you wait and what do you wait for? >> i would certainly wait. i think if you're talking about banks such as royal bank of scotland, lloyds or real estate companies and very domestic or even homebuilders and clearly domestic, those sectors clearly it's a time to wait. since the brexit announcement, they haven't performed markedly and far too early to tell because the risk we have here, sentiment in the uk collapsed on the domestic side in terms of consumer confidence, industrial and business confidence and we have no clue how long that is going to take to revert to mead. we could see a headlong slide into recession caused by uk themselves and purely brexit reasons other than macro. but that in itself is affecting the sectors quite heavily and there's no telling where these earnings fall out. >> all right. we have to go at this po

mr. osborn. >> thank you for letting me speak. i had a prepared statement and too nervous to read it so will just speak from the heart. i'm a member of the lower haight community and run a business there and in the process becoming a medical marijuana dispensary. our neighborhood is plagued with crime related to drugs for decades now. as a community don't feel we were given a fair chance to know this happened. the outreach done by the company in question in our pin didn't happen-many people didn't know until recently and have been addressing it since. sorry, i'm nervous mptd . there is a elementary school about 500 feet away from this, 600 feet away from this but due to something in the planning department that is unclear to me they are not hearing about the legitimacy of the business. we are [inaudible] as a matter of community health as we have a community on the mends from years and decades of pain. we have a community that is not trusting the system currently because of things like the picture i'm passic around where 3 members

mr. osborn. >> thank you for letting me speak. i had a prepared statement and too nervous to read it so will just speak from the heart. i'm a member of the lower haight community and run a business there and in the process becoming a medical marijuana dispensary. our neighborhood is plagued with crime related to drugs for decades now. as a community don't feel we were given a ir chance to know this happened. the outreach done by the company in question in our pin didn't happen-many people didn't know until recently and have been addressing it since. sorry, i'm nervous mptd . there is a elementary school about 500 feet away from this, 600 feet away from this but due to something in the planning department that is unclear to me they are not hearing about the legitimacy of the business. we are [inaudible] as a matter of community health as we have a community on the mends from years and decades of pain. we have a community that is not trusting the system currently because of things like the picture i'm passic around where 3 members f

mr. osborn. >> thank you for letting me speak. i had a prepared statement and too nervous to read it so will just speak from the heart. i'm a member of the lower haight community and run a business there and in the process becoming a medical marijuana dispensary. our neighborhood is plagued with crime related to drugs for decades now. as a community don't feel we were given a fair chance to know this happened. the outreach done by the company in question in our pin didn't happen-many people didn't know until recently and have been addressing it since. sorry, i'm nervous mptd . there is a elementary school about 500 feet away from this, 600 feet away from this but due to something in the planning department that is unclear to me they are not hearing about the legitimacy of the business. we are [inaudible] as a matter of community health as we have a community on the mends from years and decades of pain. we have a community that is not trusting the system currently because of things like the picture i'm passic around where 3 members

mrs. may, he advocated leaving the eu. he also says george osborne may be coming out very soon as an alley as gove. theresa may the favorite at the moment, a safe pair of hands, but remember voters overwhelmingly voted leave. when it's narrowed down to the two candidates, perhaps that would go for the person who advocated that brexit exit. >> i went to the telegraph for my must read. definitely involved in this conversation. we saw him on out bbc the morning after the referendum. now he's writing on the leadership problem. who will provided the statesman ship we need. the former prime minster writing, quote, during this time we need also for the leave leadership a detailed vision of what the new british economy they advocate really means. blair goes on to say, do they see, for instance, roughly the same social welfare or something ratically different. major deregulation. what is the plan to get over the pain in the meantime. i mean, really specific questions he clearly is engaged. he cares. i would say he's still popular and laying out a road map for

mr. hammond as chancellor of the exchequer versus george osborne? would that be a big shift in the way business gets done? francine: if you think about it from a negotiation point if you for the u.k., you need to have a whether the foreign secretary has a bigger role to play in negotiations. it's unclear when you renegotiate the u.k. extracting itself. maybe the foreign secretary has a bigger role. geoffrey: very often you get when the prime minister changes a lot of the members change. and so, it's entirely possible george osborne will move on. what they about he said post this vote is that some of the fiscal targets george osborne put in place are going to be abandoned. they told us fiscal policy will be eased. right.e is dead you may find in this environment, it is the minister negotiating with the e.u. on leaving the e.u. that is going to be the more important player. we know fiscal policy is going to be eased. mr. carney is dealing with monetary policy. tom: you've a great team at liverpool station with bus. what is theirs -- with ubs. what is

mr. hammond represents an element of continuity in the government because we know under david cameron and chancellor osborne relations with china, investment from china was a big part of their push. do you have any reason to believe it will be different under theresa may given so far in her first week or so we've heard a lot about domestic, social justice, equality right here at home. >> all those of course are a critical issues for the government, but all i can say on the basis of what we've seen so far from the government and it's the first foreign visit which the chancellor has made since his appointment, it's the first cabinet minister to visit china since brexit although the trade minister was here a week or soing a. ago. the government seems to be focused on china as they had been before. the key thing is they are putting business interest first. i'm very happy to see. >> and that's the message coming from the uk. what is the feeling on the ground in beijing because you have extensive experience with business leaders not just in china, but throughout the region there. just how concerned do you think t

osborne and is now chief macro strategist at blackrock. i really want to ask you about who she should pick but let's focus on yields. let's focus on what mrch callingdl psychosis. rupert: i think the stars have concluded people have a couple of things, the u.s. economy is not going into recession, and the central banks will carry on an increase -- increase extraordinary support. not all of those things can remain true forever. the global reserve is going to come back to the table and people are wondering when rates will go up but now it is a good environment for all asset classes, particularly for carrie. anything that is giving you some yield looks attractive. francine: these record low yield , the swiss is also negative. is it because we miss priced risk -- ms. price risk? rupert: the framework of people are thinking about is in a sluggish growth, growth in an environment where deflation is still more of a fear man reflation, and of course central blanks are buying assets and restricting the pool of assets. that are likely to change over the next year is the deflation-reflation story particularly in the u.s. as the fall in oil price sta

osborn [inaudible] alisa [inaudible] ron brandon. chris emerson. if you can all line up in that ord er and we can start with you, mr. smith. you are first up. just as a reminor everyone has two minutes >> thank you so much. i'm the owner of a ancillary business that cons traits on information technology or it side of the cannabis industry organization. i am rolling out my loc by being a compliance shop from a it perspective for cannabis industry organizations. i won't speak long, but i will say that i'm very much in support of everything you are doing, everything city hall is doing and everybody in the medical marijuana or cannabis adult medical community is doing. i want to let you know that i have received mavilous feedback from my colleagues in the industry and want to make sure that i have a chance to be involved in the process and help guide and shape e way cannabis is going to go forward from a technological and social perspective. thank you. >> thank you. next speaker please. >> hello, my name is ma tt osborn and represent a group called the safe of lower haight. i'm here today because many reasons, but the specific reason i came tod

osborn [inaudible] alisa [inaudible] ron brandon. chris emerson. if you can all line up in that ord er and we can start with you, mr. smith. you are first up. just as a reminor everyone has two minutes >> thank you so much. i'm the owner of a ancillary business that cons traits on information technology or it side of the cannabis industry organization. i am rolling out my loc by being a compliance shop from a it perspective for cannabis industry organizations. i won't speak long, but i will say that i'm very much in support of everything you are doing, everything city hall is doing and everybody in the medical marijuana or cannabis adult medical community is doing. i want to let you know that i have received mavilous feedback from my colleagues in the industry and want to make sure that i have a chance to be involved in the process and help guide and shape the way cannabis is going to go forward from a technological and social perspective. thank you. >> thank you. next speaker please. >> hello, my name is ma tt osborn and represent a group called the safe of lower haight. i'm here today because many reasons, but the specific reason i came t

osborn [inaudible] alisa [inaudible] ron brandon. chris emerson. if you can all line up in that ord er and we can start with you, mr. smith. you are first up. just as a reminor everyone has two minutes >> thank you so much. i'm the owner of a ancillary business that cons traits on information technology or it side of the cannabis industry organization. i am rolling out my loc by being a compliance shop from a it perspective for cannabis industry organizations. i won't speak long, but i will say that i'm very much in support of everything you are doing, everything city hall is doing and everybody in the medical marijuana or cannabis adult medical community is doing. i want to let you know that i have received mavilous feedback from my colleagues in the industry and want to make sure that i have a chance to be involved in the process and help guide and shape the way cannabis is going to go forward from a technological and social perspective. thank you. >> thank you. next speaker please. >> hello, my name is ma tt osborn and represent a group called the safe of lower haight. i'm here today because many reasons, but the specific reason i came t

osborn [inaudible] alisa [inaudible] ron brandon. chris emerson. if you can all line up in that ord er and we can start with you, mr. smith. you are first up. just as a reminor everyone has two minutes >> thank you so much. i'm the owner of a ancillary business that cons traits on information technology or it side of the cannabis industry organization. i am rolling out my loc by being a compliance shop from a it perspective for cannabis industry organizations. i won't speak long, but i will say that i'm very much in support of everything you are doing, everything city hall is doing and everybody in the medical marijuana or cannabis adult medical community is doing. i want to let you know that i have received mavilous feedback from my colleagues in the industry and want to make sure that i have a chance to be involved in the process and help guide and shape the way cannabis is going to go forward from a technological and social perspective. thank you. >> thank you. next speaker please. >> hello, my name is ma tt osborn and represent a group called the safe of lower haight. i'm here today because many reasons, but the specific reason i came t

osborn [inaudible] alisa [inaudible] ron brandon. chris emerson. if you can all line up in that ord er and we can start with you, mr. smith. you are first up. just as a reminor everyone has two minutes >> thank you so much. i'm the owner of a ancillary business that cons traits on information technology or it side of the cannabis industry organization. i am rolling out my loc by being a compliance shop from a it perspective for cannabis industry organizations. i won't speak long, but i will say that i'm very much in support of everything you are doing, everything city hall is doing and everybody in the medical marijuana or cannabis adult medical community is doing. i want to let you know that i have received mavilous feedback from my colleagues in the industry and want to make sure that i have a chance to be involved in the process and help guide and shape the way cannabis is going to go forward from a technological and social perspective. thank you. >> thank you. next speaker please. >> hello, my name is ma tt osborn and represent a group called the safe of lower haight. i'm here today because many reasons, but the specific reason i came t