geovanni tria has finished talking in rome. he finished about ten minutes ago.ress he said the country's structural deficit will recover once employment and gdp returns to pre-crisis levels he says the government's economic forecast are cautious, which is striking give than they are significantly higher there could be challenges there. he says italy cannot have financial stability without social stability and the government plans to liberalize some sectors connected by monopolies the ten-year yield has increased more than 4basis points. seemingly on the back of that speech seems like any time that mr. tria or any of the senior government members in italy speak we have a bit of a reaction on the bond market. >> which means we're always seeing reaction in bond markets. lvmh reports third quarter revenue later today. investors will keep an eye out for fashion and leather goods sales and concerns over a possible economic slowdown in the key chinese market charlotte has been following this story the performance of the luxury sector is contingent on that chinese deman

. >> can we touch on tria, the economy minister he's had an incredible role to play in this scenario.e tried to bring both sides of the party together to a number that was below 2% on the budget to gdp the deficit to gdp what he did was got 2.4%, he got nowhere near the 1.9 he tried to give the market there's been all sorts of questions about whether he's as influential as he could be and suggestions on whether he could stay in the role how important is it having tria to the market perception >> it's all about perception and confidence in the market there was quite a large degree of rebuilding of confidence given tria's statements in the run up to the budget announcement unfortunately what we saw was the influence the finance ministry had was much lower than expected as a result tria from a market perspective has lost credibility, not from a personal perspective, but from his ability to influence the numbers. i would say he's less relevant that what he would have been a few weeks ago. >> george, thank you very much for that we'll talk more about markets in a bit. >>> before we head to

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just briefly the italian economy, giovanni tria has been talking to parliamentary committee about budget plans he said the budget deficit increase in 2019 will be 22 billion euros. he says he thinks the government thinks it's appropriate to confirm multi-year budget forecasts. he says the government cannot and must not base its forecast on downside risks. we've seen some reaction in italian bonds. we'll leave it there on that subject for now. >>> coming p, a key trump appointee has resigned from her post, and a goldman sachs who previously served in the trump administration is among those linked to the vacant role. >>> and there's another surprising name also in the mix for that job more on that when we come back my mom washes the dishes... ...before she puts them in the dishwasher. so what does the dishwasher do? cascade platinum does the work for you, prewashing and removing stuck-on foods, the first time. wow, that's clean! cascade platinum. get stronger... get closer. start listening today to the world's largest selection of audiobooks on audible. and now, get more. for just $14.95 a

pierre moscovici said he wanted dialogue he met with giovanni tria who works behind me. late saturday night we had a cabinet meeting where the head -- the lead members of the italian government got together, they said we're happy with this draft budget plan, we're now going to pass it to our own parliament in rome to have it looked at in more detail eventually hopefully passed by the end of this year out of that meeting we got some conciliatory language from luigi dimaio saying he wants continued dialogue with the european union. from him and giovanni tria yesterday we heard that the italians want to remain part of the european union and part of the eurozone that was a big theme did some of these coalition parties that now exist in government want to see italy leave the eurozone some of their chief economic advisors indicated that was a potential option down the road yesterday the economy tria sends a letter to the european commission saying, look, we understand you have concerns about these numbers. we acknowledge some of these are outside the growth and stability pact

disponibles y 3500 miembros de la guardia nacional y de energía eléctrica se aprontaron para enfrentar la triaolicía genera más polémica, también medidas contra quienes pidan ayuda social, más información al volver ¿que si alguien que amas fuera diagnosticada con cáncer de mama? eso me sucedió a mi. una >> dos hombres resultaron heridso en parque fremont cuando los vehículos que conducían chocaron a las 4 de la tarde cuando el automóvil esperaba una grúa al lado de la vía, la camioneta se estrelló por trase cerrados se recomienda buscar alternativa,s siga en noticiero telemundo 48 a las seis. >> ♪ >> qué tal buenas noches le saluda césar bayona >> y lorena dominguenz muchas >> en morgan hill esta mañana hubo operativo acabando con varios arrestos, >> y paola qué se sabe a esta hora? >> son miles de plantas de marihuana fueron incatados en este invernadero en operativo realizado a las 7 de la mañana, esposados se llevó el equipo swat a residente de la casa ubicada tras el invernadero. >> pero hoy 12 personas relacionadas con esta propiedad están bajo arresto después de que robots antibombas det

tria earlier this week both he and his staff member looked frazzled and exhausted.hink he's going to be able to maintain credibility internationally based on what's going on at rome in the moment do you think he'll want to stay in the job or be able to stay in this job for a significant period of time >> really the most important question which i'm not able to answer for sure the reputation was massively damaged last week, and this is a key question which i don't know how to answer i just hope he will be able to resist for now otherwise, you know, we will have the consequences. >> massimo ungaro, thank you so much >>> ireland has backed britain's proposal for an all-uk customs union with the eu if no agreement is reached about the irish border issue that's according to "the financial times. the paper reports that irish officials believe the british would resolve the impasse. this could help theresa may ahead of this month's european summit, but michel barnier has already rejected that idea >> apparently having the time of her life ♪ >> well, may danced her way on to

mansion murders i tria expected to wrap up day.e, his wife, son and housekeeper were killed in 2015 before their mansion was set on fire. you can keep up with the latest from the courtroom in the nbc washington app. >>n the search isr the driver of a red sedan that hit and killed a man on the inner loop of the beltway in fairfax county. nate dickerson was engaged to be married. his fiancee worried when he didn't return home from al alexandria. it hit and collided with an rv. when he left his car, another vehicle hit and killed him. that car's driver sped off. >> how can someone just hit someone and leave. and leave them like that. you took away my future. you took away myve lo my best friend. >> we don't know much about the other c other than the fact that it is red. dickerson's family is hoping that someone comes forward with more informion. >> the loudoun county school board will meet tonight at 6:30 and outraged parents plan to attend that meeting. they're upset about how a threat against thempchool eyee at the elementary school

the latest on what we can expect from tria.last hour we spoke to our called italian government bonds and the spread of falling knife. how do you look at the prism of risk at the moment, 310 on the spread, which or something that can give you indigestion? at 310 btp spreads are pricing in a significant amount of downside risk. in reference to the credit rating that is pricing something like a double be cut rating. it is difficult to call because the political situation is so fluid. where we think you are better paid to take risk in europe is other peripheral countries, particularly in the banking sector where corporate bonds issued by banks have been beaten up significantly on the back of the volatility we have seen in italy. that is a good value opportunity. the risk that we do see in italy risk, fiscalic risk, what the government is not any europeut is breakup risk. as long as that stays off the table european banks are great buying opportunity. anna: is that because of what happens in italy stays in italy or there is some sor

officer jacson van dyke on tria in the shooting death of laquan mcdonald. van dyke growing emotional today as he offered his defense, after shooting mcdonald 16 times. abc's alex perez in chicago. >> reporter: the chilling video sparked protest. a chicago police officer shooting 17-year-old laquan mcdonald 16 times, killing him. today, that officer taking the stand in his own defense. jason van dyke testifying he feared for his life and shot because mcdonald ignored repeated commands to drop a three-inch knife. >> i shot at the knife. i wanted to get rid of that knife. >> reporter: officers were responding to a call about a man breaking into cars. van dyke and his partner followed mcdonald, who was high on pcp, for several blocks. >> his face had no expression. his eyes were just bugging out of his head. >> reporter: prosecutors zeroing in on why van dyke told his partner he would shoot the teen. >> why did you say to him, "oh, my god, i'm going to have to shoot that guy?" >> i thought he was under attack and the whole thing was just shocking to me. >> repo

small cap drug maker omeros released positive findings in tria of experimental treatment of a progressive kidney sease. however, it was later revealed that the patients who received the drug had essentially the same result as patients whoce ed a placebo. shared well to $13.96. >>> the nobel prize in medicine was awarded t two cancer immunotherapy researchers. immunotherapy unleashes the body's immune system tottack the disease. the award was a surprise to rearcher james allison. t after many years of resistance, i thi cancer immunotherapy n as t fourth pillar along with radiation,y surg and chemotherapy of cancer therapy. >> the other winner is based in japan. >>> certainly immunotherapy is one of the faste growing segments in the biotech industry. and until this breakthrough, cancer treatment mainly consted of rgery, radiation, andem a senior analyst from credit suisse joins us to talk about the growing market. how big is this market? how big is itng go come do you think? >> thanks for having me. very interesting topic. looking at the numbers thisear immunotherapies on the market right n

but it's been cle that tria is romep heing the show in must answer to others with italian bond yields jumping aroundig five-year nearing the end of the week traders do not seem to be betting on at budget reconciliatio between the two sides any time soon. forigly business, bill marks in brusselsing with 'slgium. >> l bring to brad mcmelon talking about the global issues weighing on the market fro europe to china to the middle east. and what you need to know. he is the chief investment officemo with the cealth financial network. brad, welcome nice to have you here? >> thank yin for hme. >> now, we have known that italy has had financial issues for some time was it just this new wrinkle with mr. draghi's comments that derailed the markets or perhaps the combination ofhina slowing and the middle east tensions as well? >> i think it' a couple of things. i think rates are rising which makes the gas chromatography of any italian overspending a lot more substantial. it's the facthat mario draghi lianif fit to call the i government out. and it's that the government does indeed have plans for w

every character witness for two separate false accusation tria trials. i saw that the ripple effect can be overstated in of course, i support the need to movement and professionally and posit personally but one does not equate the other. it's ridiculous subversion of justice to accept allegations. that gender automatically is a truth does no one any good, whatsoever. greg: tom, you don't have to agree with kavanaugh's philosophies and i don't think the vote was about that anymore. the vote was a defense of the system and the defense of due process. >> and i like what you said about the mob. i almost teared up. greg: really? ib allergies. >> i've been emotional all week. our great hero andrew breitbart, always spoke about what drove him to become political and it was the clarence thomas hearing that he would always say that. the anger he felt when a man with due process being torn out in the case he became the right-wing activists that we all know and love and a lot of people in this country it will be the same thing. there's a lot of people i people call

in a study >> you can look at clinical tria trials.gov and we have a couple going one that is underway for dilated card cardio my yopthy which is the opposite. >> so santa if fe is choosing myokardia to partner with. >> to think about a way to get at this medical need, we all recognize that the need is there. but historically, they have been looking at very large clinical studies that cost a lot of money and take a lot of time and usually don't work out they have had some experience with similar approaches. in santa fe in particular with their enzyme unit. the science made sense and now we are on three years into the collaboration we are making a lot of progress in a short period of time. >> one last thing i always wanted to ask because i think it is important, does the company need money i tell people, if they need money, they can get it on that one. >> we are fortunate enough that we are well-capitalized. and has $4 million in the bank which moves us past 2020 we are essentially releasing important clinical data once every two quarters now we are in good shape it will get us through

the partial concession to the european union comes after pressure to finance minister tria to contain the spending requests. five days after projections were due to be released, the government still has not published the economic growth forecast. government says those details will come today. plansk. prime minister's to rush the brexit deal to parliament in an attempt to head off a rebellion from her own party. the bird has learned that wants they's team final deal ratified. under that timetable, they would vote on whether to accept or reject the treaty by the beginning of december. may declined to comment. oil has halted gains at a four-year high on emerging concerns that prices have rallied too fast. rises jumped on concerns over athtening markets with iran risk of losing another customer, the united arab emirates. bloomberg's interview with the russian minister says it may be done -- overdone at current levels. >> current levels may be a little high. we think the market will be striving to reach a balance which will be stable and acceptable to producers and consumers. these levels

tria was talking about it needing to get to 400, 500, 600 points before the government takes action.> it makes sense to worry a 300 basis points. fort remains at that level a sustained period of time, it would be problematic for italy. there is also the issue of which point of the curve you are looking at. the front and? that is -- the front end? that is more problematic for italy as well. it would suggest that markets are worrying about the broader systemic risks within europe. vonnie: what happens next to change the situation? budget be to see the approved by parliament. we have to see the eu response to that, which presumably they will not look at it to favorably. deficit, it.4% could be recommended that the spending would shift from certain programs to more structural programs, more towards investment, more towards reforming the pack system. that would be the compromise between the two sides. that is the next marker for us. guy: a lot of people are telling , on october 26 and movies coming up, we could end up with a huge date with the back end of this month where we could see dow

. >> he was flanked by the two deputy prime ministers, luigi dimaio and mateo salvini and giovanni tria was also in that meeting. mr. salvini also positive about the government's prospects because of this government being passed >> translator: i'm extremely happen pichlt we're ke happ happy. we're keeping our promises we're not raising taxes of any kind for 2019. >> the measure also have an impact on the government's spending plans and revenue take from taxes any changes include freezing of the taxes, also the universal income is a sizable chunk of the differences in terms of spending plans. i had a chance to try to walk through some of these details in terms of what it may mean, it was said in terms of the economic growth forecast, those are possible but they are taking a bet on their plans to get people spending money through the basic income, and in terms of the assessment they made of borrowing costs in the future, that's where he thinks they'll have difficulties. he used the word optical illusion to describe them. if we see the spreads staying as wide as they have been, it will be

giovanni tria has insisted rome's budget does not threaten europe >> we need to be clear on what thists. it represents a possibility to explain further and in more detail that what italy intends to do is not a threat to the eurozone or the stability of european partners. if italy grows, europe as a whole gains stability and it can profit from it from the italian point of view this doesn't mean a disrespect of the treaties, nor are we to leave a room empty in the european house we italians also built this house. there is no way we want to leave it >> someone who is here to explain why this is a difficult job is the head of european fixed income, david zahn what did you think of mario draghi's comments? >> he said we will continue ending qe, start raising rates, albeit far out that's the mantra they've been on for a while the change in data that's been softer, that doesn't change that that's within the scope. the comments on italy, they are a regulator for big banks. it's appropriate they talk about that this will hit capital and banks. i don't think it will hit it that much. i think it

know as of today they holtd 60 million shares of ppg, not cusickwood png which is what the company tria started a proxy fight last year. the and upping the stake from campbells from.6 process processors to 6 pft 8% a lot of moves in the activism motivate. >> lessty picker at headquarters capable's soup a staple that trades at above market multiple with a 3.7% dividend yield. >> above market multiple, also 18% short interest i think maybe the stock troughed back in april or may, traded down 32 on huge volume maybe the worst is over. they don't make the brands people want anymore. i still love it. the chunky soup does it for me i'm not the target audience. you got to get in the health food but you could see it bounce on the short covering on the back of the names i don't think that's what they're in it for. >> he this make spaghetti os. >> you shouldn't should never read that. another italian crack. >> how did that turn into the italian crack. >> it's all american. >> campbell soup one comment op campbell soup. more than s&p 500 pef. >> which seems steep to ma me that would be one more re

onance minister tria spending plans.nteresting is when we get reports in the papers that we will see lower deficit targets, we see such a relief rally in btp's. now we get confirmation from the government, and the tenure btp yield is up over two basis points. why? >> people are focusing on this 2.4% deficit next year, that has been the bone of contention, and they continue to be so in the future. that is the number that the european commission will be looking very closely at. else are we, what waiting to hear from the government? you have this narrow confirmation they will go to 2.4 percent next year, and that is what is hurting the market, they are not complying to the big european move. is that it? kevin: yes, and right now we are waiting for the official economic forecasts from the italian government. those forecasts are needed to support the deficit goals they announced last night. nejra: when can we expect more detail on that? plan is supposed to be formally presented today to the parliament, that is what we underst

at the details coming out of this budget is what it means for the growth assumptions that geovanni tria has made and whether they will be able to meet those targets. >> all eyes on what happens on october 15th when they are officially submitted to the european commission. thank you for bringing us the latest >>> the new nafta has landed the united states mexico-canada agreement needs to be approved by lawmakers in all three countries but is expected to be signed by enrique pina nieto leaves office. mexico agreed to new rules of origin for the auto industry which will raise the regional auto production from 62.5% to 75%, it improves workers wages and rights u.s. trump administration yielded to a 16-year sunset clause longer than the five-year originally targeted. canada eased restrictions to its agriculture markets giving dairy farmers to 3.5% of its market. speaking after the announcement, president trump hailed the new agreement as a victory for american workers >> once approved by congress, this new deal will be the most modern, up to date and balanced trade agreement in the history o

moscovici is in rome to speak to tria i have spoken to jean-claude juncker and we will continue talking, following eu rules. >> in terms of brexit and the conversations last night about trying to break the deadlock over the northern ireland border, it seems like there is now a vague acceptance that the transition period, the implementation period when trade negotiations will be going on after march 29th, 2019, that period could now be lengthened even theresa may has said this morning that she is open to the idea take a listen. >> we are working with european union to deal with this issue of ensuring that if there is a gap between the end of the implementation period and the point at which the future relationship comes in, we don't expect that gap to exist, but if there is, we want to make sure there's no hard border between northern ireland and ireland we put forward a proposal on how to deal with this. we are working to ensure not just that we are able to ensure no hard border between northern ireland and ireland, were such a gap in time to emerge, but to ensure that the implementation

tria, after his meeting with moscovici, spoke in rome about what he considered going on in these conversationsay we opened what we call a constructive dialogue starting from differing evaluations on economic policy. we have acknowledged these evaluations. we believe we need to give deeper grounds on our policy and this way we hope to bring our positions close. >> what the commission have done is issued a letter they laid out what their concerns are so far with this draft budget plan. by the 29th of october, they can decide whether they want to essentially reject this draft budget plan and ask the italians to revise it the italians would have three weeks to do that but what we've heard from italian leaders is they have no intention of bowing to pressure from brussels. at that point, if they refuse to make changes we could end up with a complex procedure months from now where they would be fined as much as 0.5% of their national gdp >> i was going to ask about the timing it looks as though we have three weeks for the italians to revise the budget doesn't seem like there's intention on their part

every tria in ethiopia signed a peace deal in recent months after years of conflict many hope peacefully offer the former enemies a chance to rebuild eritrea remains one of africa's most oppressive regimes without a free press or political opposition i correspond on the increase go to rare look around and ask people there about their hopes for the future. the eritrean capital asmara. the city of tire the streets and welcoming cafes dotted with impressive architecture. there are mistake about signs of the country's economic woes and yet ever since the peace deal with neighboring ethiopia and as mara hope is in the air. this piece we did bring specialty areas to add to. to concentrate on their issues like. developments in every sector of. the structure is i mean there with the peace comes. the. getting better. it is my education not on me but the opposition so i'm very upset of domestic you know. it was the man. ever to be improved the war took a heavy toll here in two years of conflict from one nine hundred ninety eight almost a hundred thousand people were killed to this day eritrea has

in a letter to the commission, economy minister giovanni tria said the government had to take "hard butving us his take. it is unlikely this budget plan might boost the economy and in fact this budget plan entails higher spending especially for poor people but it is unclear if any of these reforms will increase it adding growth. the italian economy is suffering from inactivity and at least 10—15 years, nothing in this budget plan is trying to address this problem. on top of this the economy is going down so we are in a more negative scenario and so i think the outlook for italy for growth is definitely negative. one of the world's biggest tobacco firms, philip morris, has been accused of "staggering hypocrisy" over its new uk advert urging smokers to quit. the tobacco giant says its aim is to ultimately stop selling cigarettes. but some suggest it's simply trying to promote its smoking alternatives, such as heated tobacco. sarahjakes is the chair of new nicotine alliance. what we are seeing is smoke accepting these alternatives and taking up the opportunity to reduce the harm by doing a

ultimatelyn whether he's innocet orry guilty, this is not a tria, but ultimately has enough questionsshould not move on to another candidate. >> tucker: that was senator spartacus of new jersey saying is you just heard it doesn't really matter if brett kavanaugh is innocent or if he is guilty. democrats have spent so long attacking him without tangible evidence that really is his obligation to just submit and let his career and reputation and family be destroyed, for the good of the country, it's a moral question. alan dershowitz is a retired harvard law professor, the author of the best-selling the case against impeaching from. do you think i'm a professor that that's a fine standard, it doesn't matter whether he's innocent or guilty, he should just submit? >> it sounds very familiar. when i was in college that's what they said people who were accused of being communist. if somebody it has accused you of being a communist and you angrily responded and said you're not then you don't have the temperament to have the job and it's just a job interview if you are being for fido acquired a

even durgz durirugs during tria seem to help and parents will tell you, yes, my child was speaking afterwards and now they're not and yet the trial failed. trial design is, of all -- trial where the cause of the heterogeneity of the disease, three siblings can sit next to each other but present completely differently. the drug may help one but not the other two. we should look at all comers. we need to see how they can succeed. >> i think that might be something that you could help us with, particularly those who design trials. we talked about trial design being one of the things, so we have random double blind studies as this gold standard that's been out there and we have a thousand people have to be and half get it, half don't get it, so that's not appropriate for terminal illnesses, small illnesses, but if you could help us not just today but as we go through this process of, if we're going to talk to the fda or legislate how these designs -- because it still has to have some latitude as to how the designs are, but maybe we have a standard now for design and maybe you can help us with def

people are talking about a spread of 400 which is a number mentioned by tria which shows you how incompetentmbers like that, you're causing problems for yourself. the moment in which my view will pullback in -- is when we are at the edge. francine: thank you. both stay with us. will be speaking to executive sberbank earnings. berkeley -- two executives on bank earnings. we will also talk about the anxiousness on european stocks. this is "bloomberg." ♪ kailey: this is bloomberg surveillance. i'm kailey leinz. let us get the business flash. cbs. upheaval at parsons is leaving because of complications from cancer. something chief operating officer will not attend in the wake of the death of jamal khashoggi. is concern over u.s. regulatory approval over the pending sale of sopping to sprint-t-mobile. lands for putting future share buybacks on hold because of uncertainty over brexit. the largest airline just completed an 863 billion dollar buyback this month. the ceo said starting a similar program makes no sense. the airline is predicting more european airlines will go bust. oil has spiraled upw

finance minister, giovanni tria, theed for an acceptance in deficit, but found little backing from hisrs. the head of the lower house budget committee says the euro is not sufficient to solve italy's problems. let's get more from the lawmaker. joining us now is claudio bo rgi. thank you so much for giving us a little bit of your time. talk to us about market reaction. are you concerned about market reaction today and future market reaction to spending plans? claudio: well, it is quite funny because our spending plan does reflect compared to the standard budget in the past years. italy is in the last line of gdp growth in the whole world, so it means there is a lot of potential for the italian economy, if only it is possible to push a little bit, the growth, with a little bit of incentive from the government. if the european commission thinks that the italian economy would be better off keeping the deficit at 0.8%, raising the taxes, because that was the plan, well, i don't think so. i simply think that if there is a struggling economy and you keep on raising taxes, the outcome is going