of share points, schroders is up.he rationale is that schroders will get access to the massive distribution network you get schroders investment expertise which will contribute to this business >> schroders is also in the middle of a deal with standard life aberdeen. where do they fit into this? >> that's with the $109 billion which hidows life they've been relinquishing this. they've been bidding for the mandate. schroders looks to be the one that's won out. >> thanks for the latest on this story. we'll be keeping an eye on that and how things develop there >>> well, the defending premier league champions manchester city played an intense goalless draw against liverpool. it would have been a different outcome. we have more details from the game >> yes, willem it was billed as being attack against attack these two sides normally produce goals when they're playing each other, playing everyone else but it was an intense goalless draw. you can't win the title in october but you can certainly lose it. that was kind of evi

lloyds schroders. lloydsoders and confirmed they are in talks about combining wealth management business, which is a becauseng for lloyds banks around the world have been hit with no interest rate that have been squeezing their margins. asset and wealth management is one way into it. it should be a good thing for lloyds and also schroders. it should help both companies in terms of the share price performance. what about airlines? what is the story today? from --y bearish note this morning. quite a lot of profit warnings. that is largely due to rising capacity ind extra seating. profit warning was a lot worse than it usually seems. they have downgraded aig. aig could be the next to warn. matt: it has been a horrible month. at $84 a barrel for brent, cannot help at all. the-marie, let me get to norsk hydro story. >> very bullish calls for the open. -- saying the stock will rise 10%. refinery in brazil is ready to be opened. they earlier said it was not. now that this is open and we have aluminum prices d

sue noffke from schroders join us again. no, buti no, but i use whatsapp.ounting pennies at buckingham palace, the queen gets a record low pay rise. it is 0.2%. that is a pay cut in real terms? yes, it is, but the context comes out later in the story because last year she took a bigger share of 15-20% of the last year she took a bigger share of 15—20% of the crown estate income to pay for upkeep on refurbishment. four weddings? no, for buckingham palace. it is an historic, iconic building in the uk. it must take a lot of money to maintain a building like that. it is a huge draw. i was in kensington palace not long ago. listen to you! i was just doing the tourist thing and i could not believe the queues of people and thatis believe the queues of people and that is not buckingham palace. believe the queues of people and that is not buckingham palacem believe the queues of people and that is not buckingham palace. it is clearly so significant that we keep these places alive and looking good. when it comes to the royal family we a lwa ys when it comes to the ro

that was jamie at schroders looking ahead to the budget.. and as we have been hearing a lot of pressure on him to come up with the goods. the end austerities how the prime minister put it. i know a lot of people said the chancellor has to show that he agrees with that in means it. 20 billion already for the nhs we know about, more money for mental health being talked about, speculation that the defence budget could get a boost and that there might be some help for social care and universal credits is what looks like he is trying to keep everybody happy. we will see if he manages to do so happy. we will see if he manages to dosoa happy. we will see if he manages to do so a little later. coming up on bbc news: what will the budget mean for you? this evening, we'll be joined by financial journalists jasmine birtles and claer barrett, to answer your questions about the chancellor's plans. to get involved you can text your questions to 611211, email to askthis at bbc.co.uk or on twitter using the hashtag bbcaskthis. that's this evening at 8.30 o

schroders conference it is in discussions with the wealth sector. not surprise anybody who has been following the headlines. there has been plenty of reporting of late. let's check out the asian session. look at the csi 300, down 3.7% with just under an hour trade to go. this is the worst start to october for chinese stocks after a holiday since october 2008. japan out of action today. a little bit of buying in india and other emerging markets. australia hit by the weakness you have seen in commodities, particularly that alumina market. -- aluminum market. let's have a look at what else is moving sentiment. we in the emerging market index in asia, down by seven tenths of 1%. you mentioned the offshore yuan. yuan trading in china back online. we had the weakest fix from the pboc since may 2017. you can see the dollar strengthened their. chinese yuan weakness. the yen being dragged to lower by that move from the pboc and also japanese equity markets out of action. you have seen downward pressure from the japanese yen. turning now to the first word new

dennis schroder for three. warriors had to earn it tonight. steph, the contact. then, off glass. and watch this. up and in for a 95-89 lead. curry dropped 32. kevin durant, not a great shooting night for him against his former team. but he's going to get the floater late. then, he's going to hit the deck really hard. he would say after the game, he's okay. k.d. drops 27. the champs survive on ring night, 108-100, the final. >> we weren't ready to play. fortunately, we came back and took care of business. we're not in shape yet. i don't think that's going out on a limb. you know. people were tired out there, both teams, i thought. this is how it goes first game. >> reporter: even on the first game of the season, we expect domination from the warriors. it's game 1 of 82. they got the win on ring night. that's all that matters, right? klay thompson, 5 for 20 shooting. we're not going to see that often this year. warriors get the win by eight points. live at oracle arena, colin resch, nbc bay area. >> it switches. to me, that would be a problem because i could lose it. call it a conv

joining us is sue noffke, uk equities fund manager, schroders.the market this week. what are the main move rs market this week. what are the main movers and shakers, what have you been looking at? it is still trade, but i think the breaking news today is all about europe. and what the italian budget is going to do for the euro, and whether that will unsettle european markets. evoking memories of the greek problems, they are highly indebted state couldn't keep within the budget, and italy has a new populist government and thatis has a new populist government and that is proving to create strains within europe. we are seeing the euro down quite a bit today, so sort of off the back of their problem, saying italy could resolve its problems with its own currency. it is exactly those kind of comments that spook international investors regarding italy. yes, they have a very large debt pile, and keeping the budget within their means is proving problematic. and we saw how long it took for crease to be resolved, and i don't think... —— for greece the resul

the senior in european economist read it just at schroders.us the european take because we heard after is the -- after the u.k. dinner, it is still a mystery to us. >> this latest delay is quite convenient for the u.k. government. they do not talk about it openly but they have to pass up budgets in under two weeks time? iershey upset the brexit in the meantime, there is a good chance the brexiteers will vote down the budget automatically checking the general election. on the one hand, it is a bit risky to leave all talks lasting through december, pretty much the last chance to get an agreement. at the same time, they want to be able to go into the talks that the threat for general election is not there. romaine: you think the eu will hold the line on this? azad: they are pretty close to a deal. the noise is coming out of the republic of ireland suggesting the idea of having the u.k. within the customs union, at least temporarily, is acceptable for them. it is beginning to be acceptable for downing street. --o not think caroline: the issue for

at schroders, given the earnings recovery they are seeing, they have updated japanese stocks positivetral. when it comes to the mood in australia, we're moving deeper oversold territory. fromve a bunch of updates companies the is this morning, we did get updates from the likes of blackmore, which is seeing some stability thanks to china growth. haidi: let's get more on what we in whate watching here promises to be a bit of a difficult thursday. you have been looking at the correlation during the selloff. during earnings season, we usually see equities break the lockstep move from the macro side of things. that is not quite playing out for some. >> it's not, and i think it tells us quite a lot about how the macro is cinematic to really driving this market at the moment. kind ofere in some way excited going into q3 earnings season. they thought finally we could get rid of talking about the trade war and some of the big geopolitical problems, and we can start talking about company fundamentals, and what's happening is companies are telling us the details of their businesses with these re

it is unclear if schroders will win the prize, $143 million investment management contract from lloydsto still be in the running for that. miners is notgest worried about the effects of global trade disputes. bloomberg spoke to the ceo of rio tinto. >> there has been no impact whatsoever on our business. trade wars have no impact. taylor: that is your bloomberg business flash. tom: thank you. we have always taken pride in our economics and bloomberg surveillance. we have always covered the nobel prize winners with a certain care. my interview years ago and familiar guests, including michael spence, robert shiller, and paul krugman. it is where we have somebody on who has a direct connection, so direct is bill about her with mr. norton house -- willem buiter with william nordhaus. it -- andn and it is is it correct to say he jumpstarted your career? i had forgotten to take my sats. tom: some of our staff did as well. willem: you blow it. here he is, he has written the book. what was the nobel prize winner like 40 years ago? willem: he was a great teacher. he taught macro economics and i

well our business correspondent jamie robertson is at global investment manager schroders in the citye city. have a look in that view behind. it is gorgeous. we will not necessarily talk about the big city things, big financings, the way in which the chancellor has two balance his books. i want to talk about what it will mean to many people, about how it is going to change people's lives. if the prime minister says we are coming to the end of austerity will we feel like we have come to the end of austerity? i match traders, a big fund management company in the middle of london. i will be talking to their personal finance director is claire wall. claire, let's start with tax. income tax. any chance of a move? the conservatives pledged in their ma nifesto conservatives pledged in their manifesto that they would raise the income tax thresholds are the personal allowance is a to go up by 2020-2021 in the personal allowance is a to go up by 2020—2021 in the higher rate tax threshold to 50,000 in the same year, so threshold to 50,000 in the same year, so we threshold to 50,000 in the same y

anna: schroders. >> they have secured one of the biggest contracts in europe.s is going to be good news for shareholders as the stock has slumped, down 12% year to date. anna: thank you very much. you can get all the stock stories. while we are talking about ,upermarkets, credit suisse keep an eye on that. maybe a relief rally. this is bloomberg. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. >> good morning, less than a minute away from equity trading. let's look at where we are. euro, stronger on the bouncing off of the report that suggests that the italian government is going to back down its confrontation over the budget deficit. that has rocked the euro

she do very well from was she reallyr, a miracle worker, or did you just do very well from gerhard schroder? marcel: in terms of economic policy we must not forget that 12 years ago germany was the six man of europe, and what we see now is really catching up the last decades. in all fairness, the german government and angela merkel have been the beacon of stability during the european crisis. when the 2012 crisis, there was speculation as italy and spain, she has been an anchor of stability for your. there is a lot of criticism that the german government has not engaged insufficiently reforming europe, but clearly germany has been an anchor of stability for europe. the economy has recovered over the last 10 years, it is partly her responsibility and the previous government. is germany able to transform its economy? it depends on certain sectors, dependent onctors, industry to make the transformation to become a digital economy succeeding in the sectors. question, isig germany able to make the necessary reforms for the future? lota: some have written a on the differing economic views between

in fact, gerhard schroder also stepped down from his role as leader of the party, remaining on as chancellorf the german federal republic. is youa red headline were talking, according to the german press agency, merkel will an eu job. a lot of speculation now about whether she's were -- leaving and what she, might do after that. what about what comes after her? matt: that's a very good question. it's not clear yet who she will pick for her successor. not clear that the parties going to elect someone that she wants. she has been at the helm for this massive loss of popularity, so it could be an outsider. it's also not clear that the cdu will continue to govern. obviously in another election, by 2021 or earlier, if the government collapses the voters will have to decide and the meeting parties will have to have -- will have lost a lot of ground. alix: angela merkel will be addressing the media at 1 p.m. time.an time, 8:00 our we will definitely be looking at that. joining us now, paul richards of medley global advisors. i find this reaction to be very confusing. euro-dollar, up. the bund makes

equities fund manager at schroders. whatjumped out for you?1,850 before you paid tax and that will go up by a few hundred pounds in april and up to 12,500 in april 2020 but it is all happening in one big leap next april and that will be £130 extra per year for basic rate taxpayers. that isjust over £2 a basic rate taxpayers. that isjust over£2a week basic rate taxpayers. that isjust over £2 a week and i'm not sure that is enough for people to feel that austerity is over. the other big announcements were the ones discussed already on universal credit which i think has raised a lot of questions. people have been really worried about how it has been brought in both in terms of its structure but also how the system has been working or indeed not. 1 billion extra over five years and this change to work allowance. universal credit is very complicated but it means people will be able to earn a bit more and keep £1000 a year extra in their work allowance. let's head over to the city. looking at business, a lot on business in this budget. 0ne at busine