from london, i'm nejra cehic.ng is a paid advertisement for timewise music collection. >> remember when a movie ticket cost of dollar and a gallon of gas was a quarter? we were watching "gunsmoke" and andy griffith and listening to the greatest country music ever. ♪ trailer for sale or rent ♪ what's heoi i

i am nejra cehic. vonnie: in new york, i am vonnie quinn. ra: these are the top stories from the bloomberg and around the world. here are the top stories, benchmark forage as yields are at the highest in several years. morgan stanley warns the biggest test of the market is yet to come. vonnie: a new twist in the battle over brexit. the u.k. warning it will not pay the brexit bill without a good trade deal from the eu. and president trump remains of fines, saying officials warned of more russian meddling in u.s. elections. nejra:

i'm nejra cehic.ontinue our global tour of the week's most important business stories at america's largest private equity group. >> another management takeover on wall street, blackstone, as the investment firm named john gray as chief operating officer. tony james will transition to another full-time role as executive vice chairman. >> this has been one of the worst-kept secrets in the world of private equity. john gray has long been considered the likely successor to tony james and eventually steve schwarzman, founder and ceo of blackstone. gray has distinguished himself as one of the world's leading real estate investors, so this completes the puzzle for the private equity business as an industry transitions to a new generation of leadership. >> barclays has said the serious fraud office has brought charges against its barclays bank operating unit in a case linked to a 2008 fundraising at the peak of the financial crisis. we thought barclays had faced charges on this. explain the second leg we are

nejra: i'm nejra cehic. it is global banking news time.minal charges over a controversial capital fundraising at the height of the financial crisis. let's bring in stephen morris, a banking reporter for bloomberg news. outline for us first what this new case is about. stephen: barclays was charged by the u.k. in exchange with a $3 billion loan a gave in the financial crisis. they were charged with fraud. what happened today is the operating company has been charged with all lawful financial assistance. we have a less serious charge, but at the operating level, that is where barclays holds its licenses to conduct business. the banking license could be threatened. nejra: is that the biggest implication here? stephen: we don't know how likely it is to happen. no british bank has ever been accused and found guilty of fraud before. regard test case in that . it would be an extreme step for authorities to take away the license. this is more bad noise coming from barclays at a time that it doesn't need it. .or results are out next week measure.no

nejra cehic is in for francine lacqua. inflation -- the three number for governor carney. e write the letter to -- the queen or the prime minister? nejra: the chancellor of the exchequer. one letter has already been written that he might have to write another one because if inflation is 1% or more of that 2% target, that is when we see that come into play. cable is up 5/10 of a percent and a 2.7% call. in the background, we still have these brexit negotiations and we are expecting the u.k. government and the cabinet and theresa may to come out with a clearer u.k. position because what they are working toward is getting that transition deal with the eu before the end of march. that is key for businesses. tom: nejra cehic, thank you so much. in new york city, your first word news. here's taylor riggs. taylor: starting in south africa, it's a standoff between president jacob zuma and his own political party. the anc has told him to quit after he refused to step down all terribly. that is according to people familiar with the matter. the anc could still told members to vote zum

i am nejra cehic.is "bloomberg best." your weekly review of analysis and interviews from bloomberg television around the world. on monday, equities coming off their worst week in two years, president trump made two major announcements, unveiling his 2019 and unveiling and infrastructure plan. ♪ >> president trump seeing his 2019 budget proposal cutting $1 trillion from entitlement programs like medicare. is there anything that will emerge from this proposal? >> every budget is dead on arrival on capitol hill. the president proposes, congress disposes. he wants $23 billion for border security, $18 billion for the wall. republicans will push the for -- will try to push that. the budget calls for cutting medicare, $237 million and $1.7 trillion in entitlement spending cuts. those will not be adopted. >> it is irrelevant as the omb has said because it does not incorporate the agreement signed into law just last week, so they are going to have to come up with brand-new numbers during the next 4-5 weeks. ver

this is bloomberg -- nejra cehic. this is bloomberg markets.de deal theresa may would like to achieve in brexit negotiations, they will break away from other areas in the world book. some are calling it cherry picking. if britain does not get the deal, it is prepared to hold back on brexit payments. joining us now is the man who wrote a story, around of applause for the scoop. can the u.k. do this? is it legal? >> there is a chance this protest statement could cause reactions in europe and it is possible we might end up in the european or international courts to arbitrate. the fact remains britain needs some way of tying the eu' is hands to make sure the promises it gives on trade are honored after brexit. nejra: we have heard from people david davis, included, are we closer to understanding what the u.k. once from the future trade relationship? tim: they are getting clearer. theresa may will be setting up her vision in a speech next week. before then, foreign ministers have to flush out the template for what she will say. britain will remain c

nejra: it is nejra cehic in london.think there is a charge of a constitutional crisis over this bill if they do not approve it? alun: i think we are focusing on getting the letters of consent motion that we mentioned a moment ago. it's only by ongoing relationships that we can get to that. i've had expenses in the past of taking bills to the house of commons and parliament in general where and again it was predicted i wa would not get agreements by the welsh government, but by active consideration and imagination, we will get to the outcome. it is in the interest of wales and every other part of the u.k. that brexit is a success as it is in the interest of the european union. now we focus on the new opportunities, the cable and of trade has been reestablished for the first time in 200 years. it demonstrates that we want to be a global britain leading and free trade. are youow optimistic that the u.k. will get this transitional deal by the end of march, which is when businesses say they need it otherwise they start imple

tom: let's bring in nejra cehic in london. nejra: i just wanted to ask about the dollar.is being attributed to, given yields are moving higher. is this about the u.s.' twin deficits, the current account and looming budget deficit? adam: it is hard to think what else it could be. everybody is expecting a fed hike, which normally would be bullish for the dollar except it has been priced in. the big news in the headlines this morning is just how big a fiscal blowout is coming over the next two years. now we are talking from omb director mulvaney who did say something accurate, it is going to be closer to $2.2 trillion over 10 years rather than $1.5 trillion. that is a huge difference and that is why i disagree a little bit. i think the economics are broadly in line, but in terms of the forecast, this is not a morality play. it may be a bad or immoral stimulus, but i do not doubt that there will be a sustained one to two-year range growth. nejra: if we get these rising yields in the u.s., where is the demand going to come from for treasuries? will it come globally? komal: it

coming up, when silicon valley tech -- the latest apple news. ♪ ♪ nejra: live from london, i am nejra cehic close. vonnie: in new york, i am vonnie quinn. nejra: mark carney is things vague on the timing of rate hikes which is a split from the quarterly inflation report as he faced the treasury committee. joining us with more is market shots worth. -- marcus ashworth. we had data earlier and news on brexit and a testimony from mark carney and other boe officials with sterling down and gilt yields lower. why that reaction? are downk gilt yields because of the massive buyback from the bank of england in the middle of march, 18 billion. buying, replenishing the maturities. as far as sterling, or cable in particular as an dollar sterling is much more sensitive to brexit than anything else. logically it is sterling-euro but the market less the dollar, much more sensitive to brexit and if you fears with an extensional transition, that the law in from the cabinet -- , --ed in from the cabinet pushback -- they may not guarantee the full amount of the 40 billion come what may. does not have a two-wa

nejra: i'm nejra cehic. this is "bloomberg daybreak."he bank of latvia claims the allegations of soliciting bribes aimed at him are false. he spoke to bloomberg's guy in the latvian capital riga. >> the banking situation started theyprove, but of course started to lose the money. .ne bank was closed >> and i was the bank debt relates to what we were talking about with the charges against you? guest: at the moment i cannot talk about these things. by the end of 2016, all the commercial banks, unfortunately, losing all of the accounts. .his is, again, blamed on me reporter: you say you can't talk about the allegations against you. do you deny the allegations? guest: absolutely, vehemently. reporter: have you spoken to anybody? guest: i had a conversation with members of the board of the ecb. not mario draghi personally. at the moment there are possibilities they are looking continue worked as a governing council member. reporter: i don't have but this anymore delicately. have you ever been offered a ride? -- a bribe? guest: no. i've been h

i am nejra cehic.alisa: i'm alisa parenti in washington, and you are watching "bloomberg technology." let's start with a check of your first word news. deputy attorney general rod rosenstein today announced the indictment of 13 russians and three russian entities, saying "bloomberg technology." let's start with a check of your first word news. they meddled in the 2016 u.s. presidential election. the russians are charged with stealing the identities of u.s. citizens to fraudulently buy ads on social media to sway public opinion. plenty more on this ahead on "bloomberg technology." the fbi today disclosed that it failed to follow up on a 10 on -- failed to follow up on a 19-year-old the alleged shooter

i'm nejra cehic in for mark barton. vonnie: in new york, i am vonnie quinn.uropean close on "bloomberg markets." ♪ nejra: here are the top stories we are covering from bloomberg and around the world. stocks rise globally as the dollar declines and the benchmark of treasury yields retreat further below 2.9%. then we will get inside on mining from the ceo of newmark mining as it looks to expand margins. world congress underway, new talk about a major deal in the telecom industry with the ceo of gtt line one of europe's biggest cyber networks. let's have a look at where european equities are trading right now just under 30 minutes to the close of equity trading.

let's get your mid-cap movers with nejra cehic. a third quarter trading up today, group revenue up 3%, but my the revenue down 9% on subdued volatility. overall, the market taking it positively. on the downside, i'm looking at the telecom company tdc, agreeing to purchase modern $2.84 million dollars. so, following the news. finally bic, four year sales, 1.9% below estimates. analysts expressed disappointment with the organic sales output. matt: thank you, nejra. i wanted to point out to our viewers that we have german cmi numbers out, 61.1 was that reading and 61.2 was the estimate. i want to give you the stock of the hour. that stock is race, the ticker for ferrari. whether you are looking at the italian stock or the u.s. stocks. ferrari is coming up with fourth-quarter earnings a little bit later on, before the opening bell in the u.s. it is trading at 17.4 times earnings. this is bloomberg. ♪ francine: the fed it keeps rates on hold, but sets the stage for a hike in march. goldman sachs predicts a pullback in global stocks. we

nejra: in london, i'm nejra cehic counting you down to the european close. minister theresa may hopes some time away will get the government behind a unified brexit policy. the prime minister invited her inner cabinet to her country retreat. emma thomas is bloomberg's brexit editor. this meeting, is it actually going to yield any kind of compromise, or is it just going to be discussion? earlier: david davis this week joked that theresa may was going to lock them up and not give them the key until they decided anything, but they are playing down the chances of a final agreement. there are still areas where perhaps there will be a bit of blurring or fudging of the really difficult issues. what we've also heard the last day or so is that the european commission has sort of taken the initiative to some extent and has put out flyers on his website that make very clear that what they think is the u.k. position it comes to the future trading relationship, the eu is saying this is not acceptable. this goes back to what may said in september in florence, that there a

nejra: live from london, miami nejra cehic counting you down to countingam nejra cehic down to the europeanse. vonnie: the market not reacting to what the president is saying at cpac and a monetary report from the fed but some light relief from team usa. ralph lauren has solidified its place in fashion and the latest design is a $2500 high-tech parka that offers 11 hours of heat through battery-powered carbon. did this help the u.s.? to tell us when we can afford one is david lauren? thank you for joining us and for wearing your wonderful parka. is it heated? >> not right now, it is warm. nejra: did ralph lauren help with the gold medals? >> the athletes were fantastic and if you help them -- if it helps them, you have to ask them. nejra: a great -- vonnie: a great start for ralph lauren, when will you make wearables more of your collection? >> it is about understanding the consumer. we knew the place needed something to keep them warm on the global stage in freezing environments. -- the athletes needed something to keep them warm on the global stage in freezing environments and hope to hav

i am nejra cehic. this is bloomberg. francine? francine: nejra, thank you so much.loyd's ended its asset minus management pack. host of "ny, the bloomberg daybreak," as well as martin gilbert join us. how much of a surprise have this meant for you, and how will it impact your? martin: it is not a total surprise. clearly we are disappointed. we would have preferred to keep managing money, and there is a possibility we will still manage the money, but i think it is important to have the review and our arrangements. it is less than 5% of revenue, but it will have an impact on profit, but this is not for the business, but these sort of blips you go through. francine: your share price is down 7.3%. martin gilbert, can you tell us why you think this is a relationship that did not go to plan? martin: look, we have known about this for six months. clearly they believe we are competing with them. they are obviously entitled to that view, but the rest of our business is doing really well. we have merged the two companies to create a world-class investment company. goingk the

. ♪ nejra: live from the city of london, i'm nejra cehic counting close.n to the european vonnie: i'mnie quinn. industry leaders are gathering today for the global metal of mining conference. has taken place in hollywood, .lorida danielle is live with a top mining executive. gary goldberg is mike' my guess right now. miramonte really seems to be on a roll right now. become thee posed to world's largest gold miner in the world. what is the single biggest risk right now that keeps you up at night? gary: i really don't have any major risk that keeps me up at night. gold price is one of the things keeping an eye on really the overall geopolitical events driving things like oil price up and some of the things we don't control. in terms of things that we do control, the team is doing a great job and continues to demonstrate that having a rigorous approach looking at all operational details really does deliver better value. danielle: certainly you have been rewarded by shareholders. it's interesting to look at how quickly things can change. if you look at your closest rival, in 2016 they wer

i am nejra cehic. we delve into financial markets around the globe.

our top stock stories, what is moving those markets we go to nejra cehic.s may sell on closing the monsanto acquisition drags on. the stock down 3.5%. we have numbers through 2017 adjusted, sales also coming in at a slight miss. aims to close the monsanto transaction in the second quarter of 2018. all that news combined is having a downward effect on the stock. fourth-quarter adjusted operating profit meeting estimates, coming through from bernstein, the u.s. margins upsetting the higher tax rate. on the downside, looking at itv, one of the worst for farmers on the stoxx 600, the company sees net ad revenue up in the first quarter. that is a decline from the first quarter of last year. perhaps investors are getting nervous about the outlook. the new ceo sees stability were into the u.k. at market. exactly stock is not trading that way this morning. giving what is happening with skynet. union's brexit negotiator michel barnier, they are expected to drop the withdrawal text, which will be published. this is a substantial document that is expected to be robust

here is nejra cehic. nejra: u.s.il production has surged over 10 million barrels a day for the first time in decades. that comes just weeks after the international energy agency said american output would push past saudi arabia. decades of declining output has been reversed and the nation has been turned into an exporter. the u.k. will agree to in transition. told themn china, he that free trade deals would still be some time away if there is a transitional phase in which britain cannot negotiate with third countries. the uk's prime minister has vowed to fight the european union's attempts to extend protections for ex-pats. theresa may said the bloc should stick to its original cutoff date. india has said it will miss its deficit target as the prime minister looks to placate angry voters before national elections next year. the country also ended a tax break. the budget shortfall will be 3.5% in the year ending march the first. canada's minister of foreign affairs has said that she is cautiously optimistic about the

i'm nejra cehic in london. is the show where we delve into the regulatory challenges and opportunities for financial markets around the globe. but first,

i am nejra cehic. we don't into the regulatory challenges and opportunities

now, let's get straight to the bloomberg first word news with nejra cehic. nejra: theresa may held an eight hour brexit session in an attempt to win anonymous backing for her divorce plan. she went to give european rules in many areas, while breaking away partially or fully with others. the european commission preempted the meeting by saying what it has heard of her plan will not work. former trump campaign chairman paul manafort and one-time associate have been indicted on new charges that include failure to report correctly to the tax authorities. there is a 32 count indictment to raise the legal state against manafort and robert gates. manafort said he was innocent of the allegations and is confident he will be acquitted. gates has hired tom green, a long-term criminal defense lawyer. both men pled not guilty to the original charges. latvia's central bank chief freed on bail this week, says he regrets not reporting the hint of the bribe in the past. he reiterated that he has never accepted a bribe or been offered one explicitly. an exclusive interview, guy

i am nejra cehic. we delve into financial markets around the globe.

here's nejra cehic. nejra: u.k. minister theresa may start of week fighting on multiple fronts as critics in her party threatened to amend her plans for brexit and her premiership. proponents of retaining e.u. trade rules want her to fire chancellor of the exchequer philip hammond, who they believe is planning to deny them the quick break they want. even donald trump is critical, saying he would have taken a tougher stand with e.u.. as theresa may headed to china, she had a message to rebels back home, she won't quit. she faced questioning about her leadership from reporters on her royal air force plane. , may dismissed the idea as a hypothetical situation. the prime minister vowed to fight the european union's attempts to extend protections for access. theresa may said the bloc should stick to its original cutoff date of march 2019. she also argued there should be different rights for european nationals who arrive before brexit day compared with those who go during the transition. the leader of the u.k. opposition

i'm nejra cehic. this is bloomberg.e are getting some breaking news out of airbus, issuing a statement on the engines of the a320 neo. airbus now saying that 30% of the a320 neo's have faulty endings -- engines. the most important aircraft for airbus, we were told, was the a320. it has been forced to suspend some deliveries. indigo, the indian low-cost airline, yesterday disclosed that pilots have had to turn back, and that was an alarming new problem. somean see airbus down 0.9%. investors are getting a reprieve. global stocks recovering from sinceworst weekly rout 2011. the stoxx 600 is up this morning. the blowup in volatility has sparked a shift in the futures market. futures spiked to a record net long last week and traders are eagerly awaiting u.s. inflation data. with treasury yields on the rise, can the gains hold? what is to come, we are joined by andrew sheets, chief cross asset strategist at morgan stanley, and peter dixon. also joining us is dani burger, who has been following this closely. happy monday. dan

from london, i am nejra cehic in for mark barton. ew york, i am vonnie quinn and this is the european close on bloomberg markets. ♪ nejra: here are the stories we are covering, u.s. stocks higher led by the tech sector ahead of the release of the fed minutes and in europe, earlier losses are raced. we will be watching the bond market for interest rate moves as the u.s. treasury prepares to sell $15 million in notes. apple is said to be taking action to protect its supply of cobalt, the competition for the key ingredient needed for batteries and why the electric car boost could cause a shortage. let look at european equities and where they are trading under 30 minutes until the close of equity trading in europe. on a regional

i am nejra cehic in london. is the show where we delve into the regulatory challenges and opportunities for financial markets around the globe. but first, let's get a roundup

i'm nejra cehic. this is bloomberg. francine: francine: thank you. the credit suisse chief executive says relatively is not without risks. he's adopting a cautious short-term outlook. he spoke with me a little bit earlier on. week we have seen a negative impact on the bank advisory unit, though he could not be more pleased with the trade in the business. >> volatility means people have created opportunities. people see it as a negative. --ncine: [indiscernible] participation rose to 75% this year. we are sophisticated investors. we understand markets. andre actually trading more we have increased our trading revenues. amount,ake a similar 2/3ch has more than doubled, comes from our work management. are there parts of the market where people say, i do not want to transact at the moment? >> it is hurting the primary market. we have seen the secondary market. the primary market issuers are reluctant to issue this. as things seem to be settling down now, -- we do not believe that what we have seen is a major disruption. the correction was unavoidable, i

. ♪ vonnie: live, from new york, i'm vonnie quinn. , live and i'm nejra cehic in london.e european close." a series of public speeches by ministers outlined how britain .hould leave the eu boris johnson gave the address. >> brexit need not be nationalist, it can be internationalist. a considerable opportunity. a manifestation for this country's historic national deals. oura: let's bring in bloomberg u.k. glover -- government team leader. what have we learned about the path of brexit from this speech? >> there was a bit of substance, but he might still be interested in the job of prime minister. of the transition, he says fine, is,, everything can stay as but he has red lines and he is sticking to them. he says we are leaving for a reason, this has to happen. a few other things that were interesting, he tried in an implicit way to say that we need to be chill leaders for brexit and we are not positive enough about it. it was a rather colorful 45 minutes. speechit was billed as a to convince remainders. when asked about a second referendum, he said don't go there. flavia: h

nejra: i'm nejra cehic. this is bloomberg markets. it's time for the bloomberg business flash.ills is adding natural dog and cat food to a portfolio that includes haagen-dazs and cheerios. for will buy blue buffalo $8 billion. they been snapping up makers of organic foods. they have agreed to sell its insurance business to phoenix group. it is $4.5 billion. part of the price is a stake in phoenix. they want to focus on asset management. pimco says it's a good time to buy government bonds. growthe interest rate house by tame inflation. invested.0 billion it's time to cut back on u.s. debt. that's your business flash. vonnie: president trump is due to speak soon. we will be introducing the president in just moments. he is expected to talk about north korea, gun control, and much more. this is bloomberg. ♪ president trump: thank you very much, everybody. thank you for this big crowd. this is incredible. we've come a long way together. thrilled to be back at cpac with so many of my wonderful friends and amazing supporters and proud conservatives. remember when i first started runni

here's nejra cehic. justed fourth-quarter pretax profit of $3.6 billion, missing the surveyedamong analysts by bloomberg. it was a rare failure to live up to the analyst earnings estimate. the chief executive's rain comes to an end. this relates to a couple clients and reported narrowing lending margins. speaking to bloomberg about impairments, the finance director says they go into 2018 with a clean slate. >> we have always taken a somewhat conservative stance when dealing with troublesome credit.s so, we have dealt with this we believe largely in the fourth quarter of the year. so, expect to go to 2018 with a fairly clean slate with respect to that exposure. nejra: the continental hotels $674 million, meeting analyst estimates. the group is looking to acquire small luxury plans that it can grow and it plans to use $125 million of annual savings by 2024 reinvestment. ihg says no additional capital return will be paid during the coming year. the ceo told bloomberg that he expects further consolidation acr

nejra: from london, i am nejra cehic. this is "bloomberg markets." this week, the u.k.me minister is embarking on a push to bring her divided cabinet together on brexit. in the u.s., the senate is far apart on immigration, and the president is talking trade with senators. joining us is tina fordham, analystsbal political at citigroup. thanks for joining us. if we look at what sterling is doing today, it is higher on the u.k. inflation data. generally, it has sort of been tracking inflation bets, which could signal the move in sterling is rooted in fundamentals. our currency traders underestimating the political challenges in the next few months? i suspect currency traders are focusing on the latest announcements from the bank of england, digesting that we may get a series of rate hikes. whereas exit news has been difficult to price -- whereas brexit news has been difficult to price. that may start to change in the following weeks, with more planned between the premise that her cabinet. nejra: what would you need to hear from those speeches to feel reassured that the u.k

here's nejra cehic. nejra: david davis says the u.k.ment is very clear on what it wants out of talks with the european union. that came as he met michel barnier in london. barnier told the british government that it now has to make a decision over its future relationship with the bloc. the customs union, outside the single market, barriers to trade in goods and services are unavoidable. the time has come to make a choice. nejra: u.k. businesses said they are split over how to move forward in light of government uncertainty, with many companies disengaging. that is according to the british chambers of commerce. was no roomed there for continued ambiguity as companies tried to make decisions for the future. minister as the prime headed into talks with her cabinet over the negotiating positions on key issues such as the customs union. billionaire brexit becker michael ensnare said he's cautiously optimistic. he made the comments in an exclusive interview with bloomberg's tracy alloway. >> always been a tough situation. wasreason i was for

i am nejra cehic in london. where we delve into the regulatory challenges and opportunities for financial markets around the globe.

i am nejra cehic.

let's get the details with nejra cehic. ith the banks, deutsche bank the climbing, fixed-income trading slumping, revenue declining to the most in seven years in the fourth quarter. that number missing estimates, 1.4 billion about a dollars charge related to u.s. tax reform. we are down 5.5% on deutsche bank, on the flip side, don bank and a-- danske buyback program, targeting higher cash for dividends for shareholders. that is gaining 2.7% and finally, astrazeneca. earnings revenue will rise in 2018 for the first time in four years, but the 28 team core eps net missed estimates which is why we may see the stock decline 1% right now. apple, out of and amazon reported earnings, the stranglehold on the market is getting stronger. tech stocks amount for 17% of the global stock market, the biggest weight since the dot-com bubble. let's bring into the conversation dani burger. max kettner is still with us. technology, what superlatives do we attach to technology nowadays? everyone gets nervous when talking about the strength in t

i am nejra cehic in london.ow where we delve into the regulatory challenges and opportunities for financial markets around the globe. but first, let's get a roundup of the news on financial regulation

nejra cehic has all of your markets in context. globally have been firmly in the green for pretty much all of this would -- week. where are seeing gains on the msci asia-pacific index for the fifth straight week. we are seeing some thin trading. we are seeing some risk appetite coming through in the equity markets. the yen is very much in focus. if we can switch to the next chart. we have seen the yen go past 106 for the first time in 15 months. it is headed for its best week since 2016. market,at the options option trader fatigue could signal that a turnaround is near. the white line is showing that in the past four days or so, options traded have been pulling back on their bearish position positioning-yen -- on dollar-yen. switching over and looking at the dollar versus oil. dollar weakness has been a theme this week. we see the 10 year treasury yield hitting that four-year high. questions over whether the dollar weakness is down to the 20 deficits over in the u.s. -- twin deficits over in the u.s. we had data earlier in the week

nejra cehic is setting up your market flow for you. have a little bit of a hawkish tilt from fed chair jerome powell. weakcombined with manufacturing data out of china, that is having an impact on dollar-yen. all of this together -- asian equities taking a little bit of in the session. there are pretty broad based losses across the region. the worst-performing gauge in this session is the hang seng index. that is down more than 2%. after having its best month in january, it is now set for its best for the worst loss globally -- for the worst loss globally in february. times is one way to look at it for the hang seng china enterprises index. i mentioned the hawkish tilt from jerome powell. that has reverberated across markets. the 10 year9% on treasury yields. we saw curves flattening and we saw an impact on the dollar. its 2017 lowtrading above once again. it had an impact on gold and copper. i am looking at oil here. perhaps some of the losses are down to eight stronger dollar -- to a stronger dollar, but it also has to do with the fun

i nejra cehic. this is bloomberg.ine: theresa may and her cabinet are preparing to retreat to the countryside. ahead of thursday's away day, it is starting to become clearer what the prime minister wants the divorce to look like. the idea of cherry picking has come to the fore again. the prime minister made it clear she wants to stay very close to the union in some areas while breaking free and others. joining us now for more, our brexit editor, mario monti, and chris still with us. when you look at -- first of all, congratulations on a great story which was published about eight hours ago. go through simple terms, what we know and don't know about brexit. you arethe only thing certain about at the moment? >> what we are certain about at the moment is that the cabinet is still divided. they seem to be coming together on a few issues. it is becoming clear that they want to stay pretty much aligned with the e.u.. even boris johnson said when it came to vacuum cleaners and hairdryers, they may want to stay close to you r

nejra cehic gives us a global perspective. a: yes, manus, that 10 year treasury you at a four year high. that seems to be causing jitters in the equity markets. without the worst global stocks in two years last week. the s&p 500 and the dow dropped by 2%. formsci asian index heading the worst slide in 14 months. as you can see, it is red. by 1%.kospi down steady in some of the chinese equity gauges, but even hong kong is down by 1%. equities have been selling off and we have seen volatility rising. at showed a great vix chart the top of the show with volatility last week having the most volatility that we can august. we see the nikkei implied volatility surging after the global selloff and equities. i have trappe attracted againste dollar. -- i have tracked it against the onlar, down 1% to 2% dollar-yen. how much of an impact will these bond yields have on the equity space, and if they rise further, how much could that impact? that might cause nervousness for traders, defend the s&p is lower this session. even a technical 10% c

as construed to the bloomberg business flash with nejra cehic.ra: bayer might sell more businesses while in the process of closing the $66 billion acquisition of monsanto. it aims to complete the deal in the second quarter. there is an april 5 deadline for a decision from european regulators. bayer ceo joins us after 11:30 u.k. time. the u.s. commerce department has a slapped stiff duties on aluminum from china. that is after it has been reported that they are dumping the product in the american market. duties from 49% to 106% will be imposed on chinese aluminum foil. the trumpet ministration also from 17% to 81% on the unfair subsidies that chinese regulators received. the hotel operator agreed to sell a majority stake in the property business. a group of investors, including saudi arabia's public investor fund, join forces to purchase an initial 55% stake in accor. and amazon has agreed to purchase ring for $1 billion. jpmorgan advised ring on the sale. this move health amazon expand further into the consumer market, including providing securit