want ted baker will continuously say is it is challenging times on the high street —— what ted baker.what ted baker. there's retailers of a similar ilk to ted baker that aren't performing as bad as this. big trouble in the boardroom? there's a harassment case they are still trying to move on from. there was a story a few days ago, last week, about an overvaluation. . what's interesting is last january £51 million of profit, the expectation is just £5 million £51 million of profit, the expectation isjust £5 million —— overvaluation of their stock. massive four sale sign in london! would you return to greece and for a guaranteed income? the greek bribe to reverse the brain drain. they had their financial crisis and they've beenin their financial crisis and they've been in recession and it has been tough for them and it is hard to get work. you understand why people go elsewhere. ever since the economic crisis in greece, the greek government are saying education people have moved out of greece and they have looked forjobs elsewhere in europe mainly —— educated. what greece are trying to

it suffered from his departure and there are signs because of the stock issues that ted baker just signs it cut those prices and maintain profits, do you think? there are signs the product is what is the matter at ted baker. notjust the price and where it sits. we have just had a lot of its competitors have left the market and that should have left the market and that should have been a big opportunity for ted baker. instead, what we have seen is it has had to reduce its prices by quite a lot. we have seen in the last black friday sales, there was a discount of 30% off all of its products and that is not a sign of items that people have been rushing out to purchase. thank you very much for joining out to purchase. thank you very much forjoining us. and thomas cook‘s collapse — an apology. not from the travel business but the civil aviation authority — it‘s repaying money owed to thomas cook customers after the firm‘s collapse in september. some 150,000 travellers had to be repatriated back to the uk. some 50,000 customers are still owed money. paul smith explained part of the problem was

what does this mean for the future of ted baker? it faces an uncertain future.restructure companies. mothercare confirmed this morning that its high street stores would be closed if they could not find a buyer, i do not think ted baker is quite in to that yet but there could be sir more quite drastic corporate action to come. thank you, dominic. the airforce in chile says a military cargo plane with 38 people on board has disappeared in en—route to antarctica. in a statement, it said operators lost contact with the plane as it was flying over the sea, just over an hour after its departure from the southern city of punta arenas. a search and rescue team has been activated. a landslide in peru, after heavy rain, has demolished homes and bridges, sweeping away several vehicles. no deaths are reported but many injured are receiving medical attention in the northern province of huanca—bamba. authorities report around 300 people have been left marooned by swollen rivers. senior democrats in the united states are due to hold a news conference later to reveal the articl

suspendednd will be at ted baker.initely another share you want to watch, one you don't want to belong at the very open this morning. you can see ted baker trading deep in the red. futures, however, are still mixed across europe. ,e see gains and ftse futures ♪ [ electrical buzzing ] [ dramatic music ] ahhhh! -ahhhh! elliott. you came back! anna: we are a minute from the start of cash equity trading this tuesday morning in europe. here are your headlines. stanley is cutting around 1500 jobs globally as part of an efficiency push, but deutsche bank's ceo says he is upbeat about the lenders progress. newfi will end its hunt for diabetes and heart medicine. how that will impact novo nordisk. we will speak to the ceo at 8:30 u.k. time. ceobaker loses its second in nine months, suspending its dividend. shares look to tank at the open. let's look at what futures are. futures have been looking muted all morning, not expected to move far at the start of the european trading day and that remains the case. dax see downside, alt

to sam instead, who is focused on ted baker.never you see overvalued at hatch to inventory for a retailer, you don't expect positive reaction for the stock. that's right and we expect not has a reaction. calls for 20% to 25% fall for ted baker. it already down 74% this year. this began at the end of last year with their founder, some allegations around the conduct of the founder, who later stepped down. they have been missing sales estimates over the year, so a stream of bad news over the year and today looks to get worse, by the look of it. they are one of the first birth -- worst performers in the ftse. anna: deutsche bank, this is --danskergit jennen bank. annmarie: another headline on the laundering scheme. according to a warrior's report, the doj is investing deutsche bank -- investigating deutsche bank, looking at did they help danske bank move tainted money into the u.s.? deutsche bank has said they are not aware of expanded investigations nor any new investigations, so denying those reports. we are seeing shares called d

genie: trouble at fashionn band -- brand ted baker.phen: the retailer issued another profit warning. the chairman are stepping down. irmen are stepping down. the expected profits are around the third of what was previously expected. ted baker says worse than expected sales in november, especially black friday, hurt their figures. shares are down 14% in london. genie: humans negotiators are traveling to mexexico today to secure changes to a new trade deal. stephen: that is to win support from lawmakers in washington. the usmc would replace the previous trade deal, nafta, but donald trump needs the support of the house of representatives to ratify it, and democrats have been looking for tweaks, including better protections for workers in mexico. house speaker nancy pelosi appeared optimistic fofoa deal. pelosi: we are not finished yet, we are in range. i like to take an ambitious approach to, that we will not only have a trade agreement with mexico and canada, that it would be a prototype, a template for future trade agreements, recogniz

ted baker shares were down by 36% this morning.er £95,000 of pro brexit spending. and the uk economy grew at its slowest annual pace in nearly seven yea rs slowest annual pace in nearly seven years in october. officialfigures from the office of national statistics showed gross domestic product rose by 0.7%, the weakest growth since 2012, with services the main driver in the three months to 0ctober, growth was flat against the previous quarter. rebecca, lots to talk about. big news for investors, those figures on the economy and also bad news from ted baker? yes, neither of those two things were pretty. the economy is broadly flat. more on this from our market guest, the associate director for personal investing at fidelity international. let's start with the gdp figures. how did they go down? it is hard to tell precisely. you wouldn't expect them to go down well, but the markets are jittery, all down because of course, worries about what it will happen with brexit and the general election on thursday. but it is not good news. if yo

lets look at ted baker shares, dropping 25% in london.it is very cautious about the weeks and months ahead, especially with the uk election and the outcome quite unknown. you are watching worklife, let's remind you of our top survey. a global survey says climate change is one of the biggest challenges facing the world. this comes as greta thunberg is set to address government ministers meeting in madrid. have you got a burning idea for a business? if you have, what's put you off starting it? it might be lack of funds — most people think you need money to start a business. but some take a different approach. the popup business school trains people with little capital but lots of ideas. they call themselves an alternative to traditional business schools, and aim to help people from all walks of life to start their own businesses. simon paine, co—founder and ceo of popup business school is with us now. welcome to worklife. so, how does it work? it's this, we have a sponsorship model, so it is the best business school money can't buy. people

. >>> black friday sales hit $7.4 billion in the united states, but ted baker shares slumped to a record after they overstate the value of its inventory. >>> a surprise in berlin the win of a new sbd left wing leadership set the german bund yield to a three-week high. >>> and the uk election focus turns to terrorism prime minister boris johnson and jeremy corbin clash as they blame each other as the early release of the attacker. ♪ >>> well, good morning and welcome to "street signs." just in the last 10, 15 minutes or so we have been getting the final pmi manufacturing numbers across the eurozone. the final november has come in at 46.9. that is higher than the flash estimate of 46.6 so, little bit of an upside there, so some improvement versus the flash pmi numbers which came out a couple weeks ago. in terms of the breakdown, we have the final manufacturing output pmi come in at 47.4 again, this is an improvement on the flash number of 47.1 and october number of 46.6 final future output coming in at 55.3 again, higher than the flash estimate and higher than the october number, 51.9 you

there is one stark mover and that's ted baker, its shares down over 1a% in london.pparently said today it has overstated its inventory on its balance sheet so perhaps it has more goods that is not being sold and is not flying off the shelves as people thought commander ted baker shares are down over 1a% in london. sally, thank you very much indeed. now to the us, where the government is set to announce what retaliatory action it will take in response to a digital tax france instituted on american tech companies this year. vivienne nunis in new york has been following the story. injuly this year, the french government run out of patience with an international community it saw as failing to adequately tax the billions in dollars in sales made by google, amazon and facebook overseas. the country's senate approved a 3% levy on revenue earned in france from digital services that's due to come into force on january 1st and will last until an international agreement is reached. the new levy is expected to bring in $550 million a year for france, mostly paid by us tech firm

first we are taking a look at ted baker getting destroyed today. the u.k. fashion chain getting pummeled overnight. this is after top executives at the company said they were going to resign. that includes chairman david bernstein and the interim ceo. at the same time the company did suspend its dividends. now what happens is the recently appointed cfo rachel osborne will become the acting ceo effective immediately. this all comes about when ted is dealing with a lot. allegations of inappropriate office behavior from its founder. at the same time they are dealing with allegations they have been overstating the amount of unused goods. to date the follow-up bring shares down 80%. analysts at cmc markets said it best "ted baker is rudderless at a time the business badly needs a steady hand." alix: we are also looking at synovial. brooke sutherland takes a look there. brooke: already the signs are good, the stock is up for its biggest gain in more than six ofiths as investors think son will be suspending research in diabetes and heart disease. paul hud

ted baker is one of them.ave in their reserves, but they certainly want to know what went on. earlier in the year, it announced that it had made a loss of £23 million in the first half of the financial year put up so not a great year for ted baker so far. and problems for a —— ocado as well. the reason that has happened is it announced it wants to raise funds by issuing bonds. it is going to pay up to 1.25% issuing bonds. it is going to pay up to1.25%a yearon issuing bonds. it is going to pay up to 1.25% a year on those bonds. shareholders haven't liked it, and they have punished the stock today. as you can see, really substantial losses for the company. and gold prices. there is an implication therefore what is happening on the markets? that's right will stop gold prices are on the way down. they have fallen for eight out of the last ten days, which is affecting mining companies, especially those who dig precious materials from the ground. one of the reasons that the gold price is going down when it is consid

the daily telegraph business pages cover trouble at ted baker, the retailer.r it warned of a plunge in profits. greece's ekatharini reports on a project called rebrain, the country's attempting to reverse the brain drain by promising a guarenteed salary to workers who've gone abroad. and finally, the metro among many with new calls for food packaging to say how much exercise would be needed to burn off the calories inside. i'm told for a glass of white wine, a medium—sized glass, you're looking ata20 a medium—sized glass, you're looking at a 20 minute run. food for thought! james hughes, chief market analyst with scope markets, is here. so let's begin. james, your back. good morning, yes. we have this story as do many others, on the front of the times, the youguv poll, the last four we go to the ballot box, which says the lead the tories had a few weeks ago has gotten smaller and smaller.

we take a look at ted baker as shares plunge in today's bottom line.ract with us at gtv on the terminal. all the charts you want to see throughout the show. gtv . this is bloomberg. ♪ viviana: you are watching "bloomberg daybreak." a marketing firm owned by carlyle group has gone bankrupt. the company saying it was working on a plan to hand over control to its creditors to keep up with changing taste. bake consumer product companies have decided to keep their marketing in-house. costco's website crashed on thanksgiving day. for more than 16 hours. one estimate is costco lost $11 million in sales. the retail giant trying to make up for it by extending thanksgiving day only promotions into friday. i am viviana hurtado. that is your bloomberg business flash. alix: time for bottom line. look at three companies worth watching. first i am looking at ted baker, that stop getting hammered in london. outside lawyers and accountants will review a statement of unsold goods, adding to the issues this company has by not being able to sell their inventory.

i want to quickly break in with some headlines from ted baker.we told you the stepped down. today the fashion house has said it will suspend its dividend. november trading was below views . the ceo linzie page is resigning. but when he for ted baker today. the dividend suspended. november trading has been below views. keep your eye on that stock. let me get back to mark cranfield from our mliv team and ask you, mark, we saw an interesting survey from the u.s. overnight that citizens, they are happier with the economic outlook than they were two years ago, three years ago. general from a european perspective seems to have turned down. what is your view on the global economy? is the u.s. an outlier? course.me extent of it's very important for everybody else. when you have unemployment down 3.5%, it is a signal the united states is doing reasonably well. the rate cuts have helped to underpin the economy as well. such a major economy for everybody. if you have stability and a chance of an upside in the american economy, we will help spread it around

turmoil at ted baker. we are trying to figure out the u.s. equivalent to ted baker. lowes plunging to a 16 year dividends suspended and the chairman and interim director quit. this is bloomberg. ♪ ♪ this is surveillance." tom and francine -- this is bloomberg "surveillance." tom and francine from london. for more on france and the strikes, let's get back to jean-claude trichet, the farmer ecb president. when you look at the strikes and you are an international investor, do you think france does not want to be reformed? jean-claude: france is a special country from that standpoint. it is a country where to engage, negotiate, and reform is difficult. when you have demonstrations in france, it means something which is positive. it means the government is engaging social reform, and that is the case of this reform of the pensions. if there is no demonstration in france, it means that nothing is being done, and that is bad news paradoxically. your attention to that which is associated with the history of france with the culture, that is very keen on protesting. that being

in terms of sectors, techs, auto more trouble for ted baker, the uk clothing group warning they overstatedf inventory up to 25 million pounds and it comes after the company issued the third profit warning of 2019 back in october. the stock has now fallen 80% in the past one year. take a step back, look at where we stand going into the last month flt year here's where the european markets are fairing. russia is the lone country outperforming the u.s., even with relative outperformance of european equities in germany and france, the uk is only up about 9% see what the next four weeks bring us >>> last month of the decade thank you. >>> time for a news update with sue herera >> hello, morgan hello, everyone. here's what's happening at this hour president trump acknowledging trade talks with china may have been impacted by his decision to back protesters in hong kong, but told reporters today he still believes china wants a deal >>> world leaders are arriving in madrid for a two week international climate conference, the goal to step up efforts to stop global warming, put finishing touches on

ted baker's chief executive resigning after less than a year on the job the vice chairman decided tos well, comes after the fashion label has struggled to stay competitive, decline in profitability. shares under pressure, down 13%. back to broader markets. two days until the ecb policy and decision are on track. france and italy higher on the day. german sentiment improving from a month ago. and lastly, food delivery just eatery jek eat rejected a takeover bid. unlike here in the u.s., there's limited food delivery competition in europe which put the spotlight on their shares. back to you. >> thanks very much. >>> let's head to sue herera for a news update. hi, sue. >> hello, carl, hello, everyone. here's what's happening this hour house democrats announce two articles of impeachment against president trump, abuse of power, obstruction of congress. voting expected in a matter of days in the judiciary committee, by christmas in the full house >> misconduct goes to the heart of whether we can conduct a free and fair election in 2020. bad enough for a candidate to invite foreign interfe

fashion retailer ted baker is in the doghouse with investors.on. lawyers and accountants are carrying out an independent review. not a great year for the firm — it lost £23 million in the six months to august. manufacturers cut jobs at the fastest rate since 2012 last month, according to a study by ihs markit. the sector is going through its longest decline since the financial crisis. uncertainty over global trade and brexit are being blamed. more protests are expected at amazon today. this time at its london ho. the gmb union says the company must pay more tax to help fund public services. amazon says it pays its fair share and is investing heavily injobs. it follows protests over working conditions last friday. brexit has been at the very heart of campaigning for the upcoming election. and at the very heart of that is how we'll trade with europe in the future. the conservatives want to get a trade deal in place by the end of next year. labour want to renegotiate the terms of our withdrawal and offer another referendum. but how long do trade de

. >>> black friday sales hit $7.4 billion in the united states, but ted baker shares

ted baker down 2% this money.f trading, it has plunged more than 10%, and this comes as the overstated the value of their inventory. it has been a rough year for the company, missing a number of sales updates. so much, thank you annmarie hordern. plunging 24% in hong kong. an ongoing sign that the unrest is hitting the economy. firedsed -- the police tear gas into the tourist district. roads were blocked and fire was set to subway stations. asia correspondent enda curran. if you break it down for us, how bad is it? ina: it was pretty bad october, francine, and that was broadly expected. we know that tourism on the retail spending side of things has been getting hit. china's ohs by slowdown -- own slowdown as well. we know that the broader economy is suffering is well under the trade into logistics side of things. that is suffering because of the world slowdown in global demand. there are two ways of looking at it. on the political side in terms of protesters, no sign of a circuit weaker. there is an impasse that r