he will also lead the search for a replacement for stuart gulliver.ia has fallen in home -- hong kong. to shiva is dismissing -- toshi ba is dismissing reports is selling part of its business. prices, they's have been green over the past two quarters. this is leading the way to potential stronger consumer inflation, as well. anna: thank you very much. today, let's look at what is happening in the u.k.. theresa may will attempt to quell a rebellion in her party and she tries to win the power to trigger brexit. manus: the house of commons is set to debate and vote over whether to accept commitments and by the house of lords last week. overturnnment wants to the additions and if theresa may prevails, she will likely be able to travel -- trigger article 50. have someone from asset management with this. the morning. how important is this that she gets this single bill? >> very important. if this becomes a complicated , it willis attached have to deal with a lot of people. keep it simple. anna: do you think u.k. assets are moving not between hard and soft b

my finding a replacement for ceo stuart gulliver will be at the top of the agenda for mark tucker.s the u.k. parliament votes on whether to allow theresa may to trigger article 50, but what would that mean for markets? and turning to china, why bitcoin traders are looking east after hopes of an etf were dashed in the u.s.. this is bloomberg. ♪ matt: welcome back to the european market open. i'm matt miller in berlin. guy johnson alongside me in london. in london is where we see a lot of big stocks moving. a lot of those big miners are the big gainers and losers. guy: they are adding weight to the market. we will see what happens with the pound. we've also got some m&a. will be talking about one of those stories. amex foster is being bid. what is interesting is the wood group is also bid as well on the back of this. this deal.likes here's all the resource companies and what they are doing in percentage terms and index points terms, adding weight to the market. let's get some of the other deal news and what is moving. nejra. nejra: you want to look at those homebuilders. i've highlig

stuart gulliver is expected to step down in the coming year.was starting the search for its chairman. it said it would look outside the bank. this really is a smoother transition this time around than last time in 2010, where we saw a scramble. then chairman stephen green quit, and that led to the ceo also being replaced at the time. been ceo of aia for 10 years and has more than two decades of experience in asia. the current regional ceo of aia will take over as chairman. absolutely. let's talk more about this story. out, hsbc up, aia down. the markets are sending us a message that it is hsbc's gain and aia's loss. who exactly is mark tucker? >> mark tucker is a former pro soccer player from england, but was, but can't get away from the fact this is a man with an excellent track record running insurance companies, especially in asia, more than two decades of experience working in asia. previously started and ran prudential's asia operations and he went-2003, on to become prudential's ceo, a operation ing asia. anyone who knows the insurance op

overseeing the expansion in asia and one of the first importantjobs is to find a replacement for stuart gulliverstep down next year. hsbc is europe's biggest bank but the bulk of its profits are generated here in asia and the bank has been through an overall two diverse and declining profits and put it behind a series of scandals. more than 40,000 jobs have gone and we have seen profits tumbling more than 60% last year. it has moved into more risky areas of banking. this year it reached a settlement with the us government related to dubious mortgage lending and foreclosure during the financial crisis. in 2015 they were unacceptable practices which helped clients avoid tax. at $1.9 billion ina clients avoid tax. at $1.9 billion in a settlement over money laundering. investors are however like the news of mr tucker's appointment. she is going higher. —— shares. looking at the top story. decision day is getting closer for the dutch. tonight they get a decisive last look at the cannabis before making a decision on wednesday. the leading candidate in a final television debate. it is the first of thre

one of his first tasks will be to find a successor to stuart gulliver.awmakers on both sides of the isles still have not seen evidence to support president trump's claim that his predecessor tapped his phone. however, republicans and democrats expect more details to emerge as soon. byday is the deadline set the house intelligence committee for the department of justice to provide evidence relating to the president's allegations. reports from tokyo say toshiba's laws could reach ¥1 trillion, a $.7 billion. if it's u.s. new unit files for bankruptcy, this could occur. toshiba estimates the westinghouse write-down at $6 billion and may allow the unit to file for chapter 11 protection. prime minister narendra modi has won a surrounding -- resounding victory, allowing him to push ahead with his reform agenda. least 216s taken at seats in the 403 member state assembly. it is leading and more than 90 others. the result was priming mr. modi and prime position to campaign for a second term in 2019. the u.k. brexit secretary is trying to avert a rebellion inside t

first order of business will be to find news chief executive to succeed stuart gulliver, who is planning good to talk to you. we saw the figures from the markets on the screen. all of that coming of the better—than—expected jobs figures in the us last week. this is how asia is looking at close on the dow on friday. let's talk about what europe is doing, the stronger growth is helping prop up the wider market. this is what europe is doing. as well as the fed meeting, central banks in four other rich economies, they are due to deliver their decisions on thursday. we should saint none of them expect to follow what the fed is doing and tighten monetary policy, but they have the job of trying to get their economies back on track. for the bank of england, it is trying to prepare the uk for brexit. we will talk about that in a moment. michelle has the details from new york. it'll be a busy week. on tuesday, the us federal reserve will begin its two—day meeting. after the stellar job report and begin its two—day meeting. after the stellarjob report and the continuing strengthening economy, the f

hsbc.l start at his main task will be to find a successor to the ceo stuart gulliver.hs has become the latest, major bait -- hank to join the russian and chinese stocks. from the bank analyst today forecast that almost 25% gains for this year. the china gauge is up 11% already. australia's foreign minister is dismissing the possibility of a u.s.-top china trade war. trade war.na she does say that china needs to do more on the global stage. she spoke with bloomberg in singapore. >> it is important to china for economic growth. it will become strategically more important. the question is whether china will be irresponsible, global player. the has yet to be seen. -- will be a responsible global player. harley davidson is considering its first bond deal outside of the u.s. harley davidson will meet with investors in australia and singapore later this month. other big companies like apple and coca-cola have specific investors. -- pacific investors. vonnie: time for a bloomberg quick take. gasking to extract oil and has produced a flood of new energy in the u.s. and canada.

one of his firstjobs will be to find a replacement for stuart gulliver, the current chief executive of and according to the financial times, lloyds bank is close to agreeing a £1.3bn contract with ibm to outsource many of its it systems and more than 1,900 jobs. the staff would be transferred from lloyds' data centres in edinburgh and copley, west yorkshire. let's check in with the financial markets. they have been edging higher with the expected trigger of article 50. big moves in the footsie. in the energy sector, wood group has reached an agreement to ta ke group has reached an agreement to take over and mick foster wheeler. bovis homes have also soared. back to you. back to the top story and scott's first minister nicola sturgeon has announced she will seek the power to call another referendum on scottish independence. in a speech in edinburgh she accused theresa may up refusing to move an inch in her determination to pursue a hard brexit. downing street said the negotiations would take into account the interests of all the nations in the uk. norman smith is at westminster. this wa

of -- one of his tasks will be to find a replacement for the ceo stuart gulliver.lso on the way out as well. about thetalking deluge of data. retail sales, investment and production. >> more surprises from the china data. retail sales numbers increasing 9.5% from january to february. the estimates had been for an increase of 10.6% over that period. missing substantially on the retail sale. not that growth but it compares to a number of years three had at least double-digit growth in retail. >> starting to reach the peak of chinese growth stabilization stories? >> not when it comes to the gross story. when it comes to ppi, yes. i don't think it will rise much further. q2.will probably peak in they will raise interest rates further but we are not far from the peak. >> let's talk about toshiba. selling a majority stakes in washington heights nuclear political unit. >> a gain approval to the delay release of third-quarter earnings for a second time. remind us what is happening today. >> today was supposed to be the day that the company finally reported its earnings for

you did mention the task of having to find a successor to stuart gulliver, but we also have a lot ofnd-new bank regulations, right? rosalind: bank regulations are among the issues that the hsbc has, as other banks, in recent years. hsbc has been struggling with declining revenue. this is one of the things it is struggling to reverse. in the last quarter, reports of a $3.4 billion loss. that came is rather a surprise before it shares dropped at news of that. it has been trying to come back into profitability and increasing revenues. challenges include things like a slowing economy in china, one of its key markets, and also post brexit britain and the uncertainties around that. there are also headwinds. the bank mentioned there are probably more than $3 billion of headwinds in the year ahead. unknownsudes fx and surrounding what policies could come out of a donald trump administration. it has been under pressure from shareholders as you mentioned, regulations, restructuring to follow what has been brought in some countries. for example u.k., separating commercial and investment banking

one of his firstjobs will be to find a replacement for stuart gulliver, the current chief executive ofds bank is close to agreeing a £1.3 billion contract with ibm to outsource many of its it systems and more than 1900 jobs. the staff would be transferred from lloyds' data centres in edinburgh and copley, west yorkshire. let's check in with the financial markets now — and both the blue chip index, the ftse100, and the pound have been edging higher today, ahead of the expected trigger of article 50, which would set britain on course to leave the eu by march 2019. some big moves in the ftse 250 index today — first of all in the energy sector. aberdeen—based oil services company wood group has reached an agreement to take over rival amec foster wheeler in a £2.2 billion deal. and shares in bovis homes have surged following an approach by contruction company galliford try for a merger. it's rejected the proposal — and another one from redrow — but remains in talks about a possible deal. that's all the business news. in the last few minutes, the prime minister, theresa may, has been giving

hsbc chief executive stuart gulliver is being investigated by u.k.ax officials over his residency status. he lost a bid to end an inquiry that started in 2015 centering on where he was living in the previous tax year. the ruling says the government is not making any allegations as to the impropriety. he has spent a significant amount of time living in asia. french authorities have joined the u.k. in a corruption probe of airbus. the investigation is focused on allegations of fraudulent practices. including arranging aircraft financing. the probe follows steps by the u.k. office in august. airbus, which is cooperating fully, has said it dropped the questionable middleman. former barclays ceo diamond is said to be poised to return to london's financial center with a takeover of gordon. according to people of knowledge -- with knowledge of the plan, he left merchant capital in preparing to announce an agreement with the stockbroker private. it is already the main shareholder which has a market value of about 9.2 million pounds. that is your bloomberg bu

stuart gulliver is being investigated by u.k. tax officials over his residency status. d to end an inquiry that started in 2016. centering on where he was living in the previous tax year. the ruling says the government is not making any allegations of impropriety. an -- a has spent significant time living in asia. authorities have joined the u.k. in a corruption probe of airbus. allegations of fraudulent practices related selling planes and arranging aircraft financing. the probe follows steps by the u.k.'s office in august, related to third-party consultants. airbus, which is cooperating, has said it dropped the question . former barclays ceo is said to be poised to return to london's financial center with rocard -- according to people with knowledge of the plan, diamond's atlas merchant capital and qatari investment are prepared to announce an agreement to take the 141-year-old stockbroker private. of 9.2s a market value million pounds. that is your bloomberg business flash. to the u.k..urn theresa may will pledge to forge a closer union within the u.k., going against

his major task will be to find a successor to stuart gulliver.s considering is first bond deal outside the u.s.. they will meet with investors in australia and import later this month. in recent years, other big names , such as apple and coca-cola, have tapped asia-pacific for corporate debt appetite. david: it is a big week for europe. among the many events tuesday, president trump will meet with german chancellor angela merkel. wednesday, elections in the netherlands. the g-20 summit will start on friday. derek is still with us. megan greene is with us right here in new york. derek, let me start with you, and unfair question. we have a lot of elections coming up. which is the most important for markets? by far the most important political event of 2017 will be the presidential elections in france. the idea of marine le pen as french president i think would be a catastrophe for europe. the polls are suggesting that is not going to happen, but importantly for this week, the dutch elections may well shape sentiment going into the french elections

tucker's major task will be to find a successor for ceo stuart gulliver.'s bring in jonathan, who covers banks from bloomberg intelligence. still with us, stephanie flanders. jonathan, when you look at the share price hike, what do people like? jonathan: the key thing is the asia focus. deleverage 300 billion of risk assets. they've cut nearly 600 billion of costs. it is all about asia. the rally, paul asia focused. mark tucker has a good track record in asia. francine: this is my chart. in white age hsbc. what does hsbc need to do to move up in terms of share price and properly become a stronger bank? capital: its positions improved dramatically. it is about the tough line. they put the basic cost to the right level. things like their target of growth in asia, growing loans faster than gdp, that is very much the focus. stephanie,e here, with what long-term is for a banker today. i was sort of flabbergasted that peter hancock was shown the door at aig late last week. he's a first-class guy and he didn't do it for a couple quarters. he's gone. is the new lo