matt: all right, simon french will stick with us.cover with the chief economist at panmure gordon. up next, the u.k. and theresa may. this is bloomberg. ♪ is this a phone? or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. ♪ will taylor rule? the dollar climbs after the stanford university economist said toas said -- is impress trump. airbus acquires a majority stake in bombardier's c-series. prevent theempt to chinese from buying and preventing the duality -- duopoly? a five-yearto hit high with little progress on brexit. speaks < she two hours later. welcome to "bloomberg markets: the european open." i'm matt miller in berlin, alongside guy johnson in london. guy: let's f

and not some unpredictable solution we're working very intensively on that let's speak now to simon french in london he is the chief economist with london based primer gordon and co thanks very much for being with us now i want to ask you first of all how likely we've had a lot of talk this week about the possibility of a no deal. yet how likely is that and what impact would that have on the u.k. economy and europe's economy i think it's a likelihood that is growing all the time it's very difficult to put an exact. percentage on it but i think two things are very clear at the moment first of all that the government is struggling to get enough votes here in the u.k. to pass only deal sonority eventually brokers and even before we get to that stage conversations with their twenty seven partners aren't going particularly well and therefore we expect the decision on which to go to the next phase to be deferred from this october's meeting to december's meeting terms of what a no deal scenario would do i think we've been quite clear for more than a year now alberta the impact will be significant

and not some unpredictable solution we're working very intensively on that let's speak now to simon french in london he is a chief economist with london based primer gordon and co thanks very much for being with us now i want to ask you first of all how likely we've heard a lot of talk this week about the possibility of a no deal. yet how likely is that and what impact would that have on the u.k. economy and europe's economy i think it's a likelihood that is growing all the time it's very difficult to put an exact. percentage on it but i think two things are very clear at the moment first of all that the government is struggling to get enough votes here in the u.k. to pass any deal sonority eventually brokers and even before it gets that stage conversations with their twenty seven partners aren't going particularly well and therefore we expect the decision on which to go to the next phase to be deferred from this october's meeting to december's meeting terms of what a no deal scenario would do i think we've been quite clear for more than a year now alberta the impact will be significant in

let's get back to simon french and antonio baraso. the new putincs with vladimir almost being the king maker, a job that no one has succeeded so far, give us more of a sense of underlying changes that economists are not sorry couldn't pricing. simon: we have not priced the role that russia has looking south towards the middle east, but east towards china. alliances, how they are a counterweight to these countries that have pretty dominated the strategic decisions. in terms of the potential of russia and saudi taking back the role of the swing producer -- and in other shows, we talked about the u.s. taking on that role -- is that inflection productionh marginal where we no longer look at drilling rates, but we look at the strategic alliance. arecine: what kind of role they going to play in this? there were strong times between the e.u. in the middle east, and now they have taken aback bench. antonio: they are playing a secondary role. the u.s. has been focused on domestic matters. i mean brexit, for example. the elections that took plac

with me is simon french, chief economist, panmure gordon. it is good to see you. thank you. go to the next stage now, how big a deal is that for british business? we are starting to see british business deferring investment decisions based on uncertainty over future relationships. we will not get any clarity for some weeks, to be honest. i to be clarity for some weeks, to be honest. ito be honest, the information today for businesses will be whether michel barnier will be given the lead negotiator for the eu, will be given the ability to talk about the future state of relationships and the divorce settle m e nt relationships and the divorce settlement and the northern ireland border. if he can, businesses will ta ke border. if he can, businesses will take a positive take. in the meantime, as you said, businesses are deferring business decisions and are deferring business decisions and are initiating secondary plans. yes. many contingency plans put in place straight after the vote were actually, they were not going to be executed until such point they felt they were close eno

i'm joined by simon french, chief economist at the investment bank panmure gordon. good morning.lking through the various candidates, no sign of janet yellen among them. no, the markets have responded well to the four years of janet yellen, if you see the challenge she had on hands, the us economy recovering from its biggest financial crisis in 70 yea rs, biggest financial crisis in 70 years, she started the normalisation of monetary policy, bringing up interest rates, and this month is of monetary policy, bringing up interest the ;, and this month is of monetary policy, bringing up interest the balanceiis month is of monetary policy, bringing up interest the balance sheet, th is of monetary policy, bringing up interest the balance sheet, the $4 reducing the balance sheet, the $4 trillion held by the federal a skilful reserve. so that is a skilful balancing job, but she does not appear to be currying favour with the president. so if she is not nominated again, who do you think is the most likely to take the job, the most powerful central banker in the world ? most powerful centra

anna: simon french, thank you very much.us: a list -- eight boost for abe at the end of this election. -- it isst level monday, it is hard. the highest level in decades. anna: bring more coffee. manus: yes, quickly. "bloomberg daybreak it is 2:30 the afternoon over in tokyo. japan, we get an update on the latest survey of the businesses and how excited they are. that update in just a moment. for now, let's could look at the markets. some of them are open, some of their not. was some of them are not. >> hong kong, china, south korea, some close. not a huge amount going on today. but he much unchanged but i'm looking at dollar strength. the dollar gaining against all of its g10 peers. of the worstne performers in the dollar with the euro, weakening after the developments in spain over the weekend. you are seeing a little en weakness -- yen weakness s -- as well. 0.08% on this. will the boj did return -- return to defend the range? we're almost at the triple top but not quite there. 0.1 percent, previously the bank of japan has

hans redeker and simon french. to ask them a question through tom and i, load up tvgo and you look at the gpped and we'll ask those questions next. this is bloomberg. ♪ dd tom: bloomberg surveillance from new york. is it lawyer sfot if you're not a part of global wall street, the financial times, the bank of america will take a different and separate path if the securities exchange commission of the united states doesn't act to staunch mifd and keep it in london. kneel callahan knows about this and is out of dub lan and provides important reporting for our financial team in london. thank you for being with us on short notice. what brian moynihan is saying at bank of america is we're not doing mifd and either the f.c.c. blocked mifd in new york or we're going to set up our own rules to deal with our important european clients. how will the f.c.c. react to the idea of bank of america going its own way? neil: it will be interesting to see how the f.c.c. deals with it. we reported last week they plan no action letters

two—time european champions munster started with a i7—all draw at french side castres. simon strong second—half castres onslaught to pick up two points for the draw. now, the statistics have been piling up at the start of this rugby season. before the weekend, ten of the 12 premiership clubs, have suffered a combined 82 injuries to first—team players. the former saracens flanker will fraser won a domestic and european double in 2016. but he was forced to retire from playing in the summer, because of a neck injury — and he told tom fordyce that he was left with no option but to quit. i still get sore when i sleep and i still feel stiff in the morning. neck, shoulders? neck, shoulders, ankles, it just all. .. ijust think because you spend, what, the best part of ten, 11 years hammering your body every single day, evenjust running around every single day, and your joints take such a hammering. a lot of lads would be absolutely fine, but when you have joint issues and i have had almost everyjoint operated on, you have consequences of them. i think it is almost your body kind of d

more analysis from simon french, chief economist. thank you for joining french, chief economist.appointing number this morning to move from that position. what we got was not .4%. you only get about 25% of the data for the last quarter at this stage was therefore it is very much april and three estimate. the second thing to note previous rate heights, we have not had another one since 2007. previously the average has been a gross of .7% when the bank has moved. still significantly below what historically they have felt co mforta ble what historically they have felt comfortable raising interest rates into. let's move on to energy. the independent review has told us what we already know, we are paying too much for our energy is going to make a difference? the replacing of the standard variable times with a default tariff. i have lost track of the of times this has changed. we are seeing a manifestation of a market that really is not working for consumers to what the government has tried is to get the behavioural change for people to shop around for tariffs. we have seen that people

two—time european champions munster started with a 17—all draw at french side castres. simonhere, defending champions saracens have begun their campaign away at northampton — that game kicking off in the last few minutes. also in pool 2, last season's runners—up clermont travel to ospreys. it's not been a bad birthday week for englishman tyrrell hatton. fter successfully defending his dunhill links championship title last weekend, he's gone and snatched a one—shot victory at the italian open — ending with a superb final round of 65. winning the two tournaments in a week have earned him around one and a half millions pounds. that is more than i got in my birthday card! that's all the sport for now. coming up next, it's the film review with jane hill and mark kermode. hello, and welcome to the film review on bbc news. to take us through this week's cinema releases, as ever, is mark kermode. good to see you, what have you been watching? a very mixed bag. we have been watching the snowman — a thriller starring michael fassbender. we have the ritual — camping holiday goes to hell.

nick and simon discover that their father had direct correspondence with a french woman named rose vallandcter in the film. >> what is all this? >> people's lives. >> she helped keep track of all the looted paintings that the nazis were stealing from the various collections, and at night, she would go and photograph all the paintings and make surreptitious lists of everything. >> this photo from the gutmann estate in holland shows a painting by swiss-french artist jean-etienne liotard. bernard and rose track it down to austrian salt mines, where hitler stored stolen art. bernard recovers this painting and others, but then sells them to fund his ongoing operation. how devoted to the quest do you think he was, now that you know what you know? >> it was his lifetime mission. this is what he was all about, trying to find his family heritage. >> bernard goodman continues the search until his death in 1994. he never tells his sons what he was doing. >> never. >> why not? >> because, if he'd really felt that he'd achieved what he set out to achieve, he could've told us and been proud about it. in