what is also interesting is to say how this develops for gerdard schroder.ot everybody will be happy he is involved in this work for the government. he is receiving a paycheck currently from vladimir putin now that he is on the board of an oil company there. >> he is a complex figure in all of this, but happy days for the family of peter steudtner. but it begs the question, why peter steudtner and why not a very prominent person in jail and other german citizens? why has he not been able to secure their release? >> from the information we have had confirmed so far, peter steudtner actually asked forgerdard schroder and others to be released. it is something we will have to say, whether that is really the case or part of the deal that turkey is yet to fulfill. it is something we will see in the coming weeks. of course, peter steudtner's release yesterday, it is why no means an automatic indication that all the other german nationals in turkey will also be released. >> i have 30 seconds left, what does this say about bilateral relations between berlin and turk

arabia within saudi therviews of schroders chairman. toare bloomberg manus: china's president unveils a new leadership lineup. the chances he will stay in power past 2022. anna: the u.s. president asked gop senators for a share -- issue of hands over the nominees. . third quarter underlying profit 2.0 8 billion, the estimate 2.1 billion. broadly in line for the third quarter. lloyd's longer-term guidance maintained so keeping the guidance they had with the markets. all this ahead of a strategy due to be announced in february. the ceo preparing to outline the reading strategy. many analysts [inaudible] the government has sold its last remaining stake in the business back in may. eight years after it was first bailed out. looking for comments they had around brisket -- brexit. 97% of this banks business is exposure to the you ok, it's a exposure tothe -- the u.k.. lender on the economy. we have the details on the -- the bank of england have been concerned. manus: if you do not want banking we can give you a little bit of year. heineken de

manus: aymeric forest is the head of investment at schroders.h 80ook at america five quarters of growth -- 80 months of growth, it is a high run. how much value do you put on today's distortion? and its just one number is the trend that has helped recovery, this recovery on jobs has happened at a much slower pace than in other cycles. it is only one number, but we believe the u.s. is recovering nicely. don't forget that 18 months ago, we were in a manufacturing slowdown globally. benefiting from a synchronized global recovery. the only on the economic side, but also on the earning side. numbersas the growth remain, this is great. but in order to maintain this momentum, we probably need thething else, and importance of fiscal expansionary policy, not only in the u.s. but globally. anna: in terms of this jobs report, i was looking at average hourly earnings and when will we get decent wage growth in many advanced economies. it was interesting to be reminded about year on year growth at 2.5%. that is not zero. it is much lower. that is probably one

christopher schroder have traveled to iran there schroder, welcome, it is good to have you with us when was the last time you were in iran and was it post agreement and if not, what are you hearing from iran about how the lifting of sanctions and the cash and capitol flow that the president highlighted in his remarks, how have those things changed? >>> yeah, great to be with you i was there last in 2015 which was on the second trip and again, because of the rules of that time, i was not allowed to advise anyone, i was there to see the country and learn about it i spent a tremendous amount of time with the remarkable collection with young entrepreneurs and tech generations that are enthusiastic of america. they are enthusiastic of this deal and looking for due opportunities before them. as you can imagine like everything just reported on, there is tremendous disappointment that any intentions would be added to the dynamic right now. this is a highly educated population, very enterprising population and knows business well and eager to do business, how would the reen position of u.s. sanc

joining us is sue noffke, uk equities fund manager at schroders. it isa it is a pretty busy week.f that you have got these market is going up and up. lots of record highs. we are seeing investors liking this synchronised global growth and activity. that is underlined by the imf talking about raising their global growth forecast this year and next year. it is not dominated by one region and that has really helped calm investors in the face of some tightening of monetary policy compared to the very loose conditions we had. interesting in the imf report it said the only country that was downgraded was the uk and today we had to may heading to brussels to restart the brexit negotiations. that really is key for the uk economy. for the economy, thatis the uk economy. for the economy, that is true. the stock market carries more weight than the local economy. especially the ftse 100 economy. especially the ftse100 which is very international. the other focus is mark carney, the governor of the bank of england, and a lot of central bankers have been talking over the weekend, like janet yel

. -- with schroder investment, as their senior european economist. new $1 billion funding round has been completed and led by alphabet, g. valued at $11 million. capitalg leading. this is bloomberg. ♪ vonnie: live from bloomberg world headquarters in new york, i am vonnie quinn. mark: and i am mark barton. counting you down to the european close. or is in a credit bubble corporate debt fairly prides? -- price? erik schatzker in london with an exclusive interview. erik: i am here with ted goldthorpe. --is the managing partner managing partner with bc partners. are we in a credit bubble? ted: i don't think we are in a credit bubble, but i do think there are areas of credit that are very stressed. i think the default rate and a lot of things you read would indicate we are in a pretty benign environment, but there are factors that are stressed, right now. sectors areher showing signs of stress. telecom is now one of the largest stress factors by volume in terms of a high-yield market. there are a number of sectors that are becoming very stressed. erik: t

with schroders, jason furman continuing with us as well.ung kim, world -- jim young ken, world bank president, who focused him what the world bank can do to jumpstart investment in infrastructure within the emerging markets. from the meetings of the imf and world bank in washington and her washington studios, this is bloomberg. ♪ ♪ francine: this is " bloomberg: surveillance." -- the chief of executive. a earning season gets underway with u.s. banks, with jpmorgan and citigroup -- having results. jumpinges have them down expectations. some analysts say trading revenue may drop by 20%. here's the global head of strategy, one of the biggest experts in banks overall, and we are also back with jason furman, former counsel of dax economic advisor. thank you both -- both for sticking around. if i go to you one banks, is there any chance there will be a big investment bank coming from europe left and 4-5 years? >> i think five u.s. banks -- they've got a much stronger and healthier economy. think that's really supportive. the europeans clearly hav

manus: great to have you with mean, remi olu-pitan, the fund manager from schroders, joining me thisabout our lead corporate stories this morning. 7:25 in london. 8:25 a.m. in berlin. the deal is $7 billion. it could clear the way by a $66 million -- billion acquisition. soon can we expect the monsanto deal clearing the way? still an opens question how long that is going to take. we had a story last week that said the e.u. stopped the clock. they do not have on the information they need. you know, they are -- bayer is saying they can close the deal in 2018. this announcement is a step forward for them in that regard. this takes care of one issue they needed to resolve to get antitrust approval. i think investors are skeptical the deal will go through as quickly as bayer is saying. this news today certainly helps. manus: it is something they have been reluctant to do. they have long resisted getting into the seed business. this gets the consciousness briefly on that. phil: that is true, yeah. basf has had a broad portfolio nothemicals, but they have been in the seed part of it. they h

beat blackfin and schroders in the race to pick up gazely.will not affect planes were privatization. highrollers up as continue to play. beating the average of 14 percent. the momentum continues as golden week is supposed to generate more. let's get back to the latest bank of japan survey. pretty positive numbers for shinzo abe ahead of that snap election. we are joined from tokyo by the chief macro strategist. all, look at those numbers from the tankan survey. what are you making of it? >> generally speaking, there is a good result. sector shoulding a stronger sentiment. no manufacturing sector is holdi the manufacturing sector is holding up well, held up by construction. rashaad: this brings me to monetary policy and what the government and bank of japan and governor kuroda do next. if they do not have this 2% inflation target, with this be thetime to start tapering quantitative easing program? showed the upward momentum of inflation is still moderate. expectingnies are higher prices in the future but the changes moderate. doing well and in