and the u. k. has reportedly started informal talks about joining the trans pacific partnership trade pact in a bid to help british exports afafter brexit. junior minister at the ministry of trade explain did the the financial times that there weren't any geographical restrictions the deal and that the u. k. could join the eleven members of the tpp. which include australia mexico and japan. lalast abt this a british trade minister lee in fox's spine that it's a. was too soon to seek memembership to the tv. we don't know what the successor to tv please go into yet look like. . becaue itit isnsn't yet negotiatedo be a l little bitremature. for us to be willingng t to signgn up something that wee not sure what the final details will look like however we have said. that we will to be an open i would l look in country therefore it would be foolish for us to realize. any particular. comes for the future. some of the other stories making headlines in the world of business. another rival the big korea brut

some banks and financial institutions have announced plans to move jobs out of the u. k. order to maintain access to european single market. but there had been fewer shifts and many in the industry had predicted. cities special representative to the use that he believes that a transition agreement will be reached in the coming months to help safeguard much of the city's activity take a listen. i think the most apocalyptic scenarios

citizens from outside the u k. pratham ozzie has warned that only one in fifty people who apply to their company is british and that they would not be able to fill all the vacancies just with british workers. there is no extra training for british touristas but the fest for coffee in the u.k. seems massive and vast offices and coffee love us are hoping that this will continue to be able to enter the country even off depressives. today by. the to the to the to a movie how to. learn german with. any time any place. whether with jo jo and her friends. it's going to be next to a mischief spritzes the space shuttle is a war with friends all over the world. go online and interact in. german to go. and learn german for free w. . sure that most people in the world over information. to obtain such a thing want to express the a w on facebook and twitter up to date and in. touch. birth. home two moons of species. a home worth saving and. those are big changes and most start with small steps global ideas tell stories of creati

citizens from outside the u k. president has warned that only one in fifty people who apply to that company is british and that they would not be able to fill all the vacancies just with british workers there is no extra training for british baristas but the fest for coffee in the u.k. seems massive and thus offices and coffee lovers i hoping that this will continue to be able to enter the country even off to practice it. today by. move to. move move move move move move. move move. move move move move move move move move move move. wu true diversity. where the world of science is at home in many languages. on the front foot off a program to go under you know me show you that you can attach our innovations magazine for. us from a different week and look into the future and talk comics science and research for a shot. when i'm traveling i like to be comfortable. but i also want to stay up to date on the latest news events. indeed you make that marta traveling easy because it's available and thousands of hometowns res

julia: in the economic section, the u k's opposition party, the labour party, has been socked out bygers, ceos and bankers over the past six months. the prospect of labor winning power is starting to overshadow brexit as the biggest wildcard for investors. julia: here is christina with more. mcdonnell is not your typical politician. he has been a veteran of labor and is a man who has waived the red book in debate in parliament and lists one of his interests as fermenting the overthrow of capitalism. >> that will sit well with everybody. talk about that, because business people, investors are more concerned about labor winning in the next election than they are about brexit. cristina: the parties performance in the snap election was a wake-up call to britain. carol: 40% of the vote. cristina: that's right, a high water mark that goes up to the 2000's. is theythe expectation have a good shot of winning the next election, whenever that happens. one is not scheduled for years, but government is very troubled -- may's government is very troubled so it could come sooner. feel is a moment,

support brexit are hoping for which is a very, a lot of services involved and special carveouts for the u. k special carveouts for the u.k.'s. it could mean anything from what i have described to a very limited deal which is what canada has, certainly far below what brexiteers and brexit ministers are roping. in —— are hoping for. he has been very clear about this, which again is refreshing. if you are not the eu you cannot be in the single market in the way that you previously were. you don't get the benefits of the single market unless you are in the single market unless you are in the single market. that is a pretty sobering message for people hoping for a very good deal of getting the same benefits. all down to negotiation. as far as i am concerned, a bespoke deal doesn't need to cover very much a. a continuation of tariff free trade and something with financial services. this is saying that we have a deal where both parties benefit. let's move on to ukip. the guardian, ukip in crisis after leader loses vote of confidence. henry bolte and's reskill friend, with her for three weeks, henry

we have been looking for it in the u k. it just kept crumbling.e is important, but the fed is more predetermined then data determined and volatility remains low. manus: we had a drop in the dollar last year. everything that you just said, what happens next for the dollar? -- dollar third q4, q1 through q4 -- david: it is a pick and choose. inre is no bull market like 2014. there is no bear market. some currencies will do well, some will not. this is a forecast in direct opposition to a consensus. we think it drips lower. there is no smash bang wallop. weaknessling we have coming around this year. the euro is drifting. david bloom stays with us. he is the global head of currency strategy, hsbc. thank you, david bloom stays with us on the program. manus: david mentioned some of the other concert -- david mentioned some of the other currencies. we will bring you our conversation with the uk's trade secretary, liam fox. this is bloomberg. ♪ ♪ berlin, where it is 8:20 a.m. 0.5%.ng up by it is mifid day. let's talk about these markets. 40 minutes away f

a little aboutk what's going on here in the u k in terms of the reporting season.ing some ports from the highest street -- highest names in the -- biggest names in the high street. is andrea,ing us great to see you this morning. proper warning, so it's a very disjointed picture we are getting. try and make sense of that between food, nonfood, and luxury. retail we have a real division emerging between food retailers and nonfood retailers. the nonfood retailers have been helped by inflation. the matter what they say, inflation is very good for their sales. if they can get a few price increases through, it increases the value of their sales. that's very useful compared with the year ago when you didn't have as much inflation. growth foodll the sales look good. pay morel having to for central such as food, we have less to spend on things that we simply want, like a next her gift at christmas. that is why the nonfood retailers -- anna: we held back on the sparkling christmas stuff. that was to everyone's advantage. it's interesting because you mention this makes betwee

overwhelms right huge financial troubles when the u. k.'s largest construction companies is going into the quotation. caribbean happen insults of this land is on constructios many government contracts. at risk of disruption of major projects like the haitians to high speed rail line that would connect the uk's major cities. as well as the schools and prisons that caribbean manages. firms also the second biggest supplier maintenance seices to network rail and it maintains fifty thousand times for the ministry of defense. the uk government has drawn criticism for not doing more to help the struggling from. this fight the. the companies that it is is contracts to because clearly the country in a number of avenues is heavily reliant on karelian. a think secondly what it calls to. mopping these companies if of running into about time they have to seriously rethink a sausage it continues off of contracts because ultimately. they all put themselves in a very isd to beat its arch rival boeing i in thehe final ovew of twenty seventeen. receiving ord

france germany and the u. k. met with iranian officials in brurussels tody on a declared that the deal was working if trump doesn't sign off on it on friday something failed today backing outside the. whole agreement could collapse son chance yeah his rules. these officials of from european countries that help make is she ate the nuclear accord unpacking twenty fiftfteen. representatives from france and germany and the united kingdom. an addition to the ease top diplomat. smiles of this roundtable have come to the belgian capital to put on a united front with saffron just hours before the white house decides whether to continue backing the agreements. you have a fast. easy is essential research shield. that is making for safer streets and. eventually nuclear arms race in. i don't expect for is the genius foreign minister mohd javad zarif called for more thanust once. i keep thahat wee have stred that for i iran to state commissions to thee deal w o is involvedd including theh. n. need to stick to that end the bar

france germany and the u. k. with iranian officials in brurussels tody on a declared that the deal was working if trump doesn't sign off on it on friday something failed today backing outside the. whole agreement could collapse

european annexes had a good day as well london's footsie one hundred hitting a record high with u. k. productivity growth at its fastest clip since twenty eleven. for the inning up nearly four tenths of a percent frankfurt's dax and attack our own universe both up over one percent. well if you look at some more of his top b business headlines. saudi arabia has revised the officials that as. well james saudi aramco had a public stock offering winter twenty eighteen. stock company requirement for seventy firms you face go public king and plans to sell up to five percent around go as part and it's a vision twenty thirty plan to reduce the country's economic dependence on oil exports. air france and its sister airline kaelin or planning strikes next week part of kaelin's cabin crew to walk out on the job next monday to protest worse the working conditions you to cost cutting. as the wild places right next thursday over safety concerns earlier this week replace the pilot on the flight after he refused to take off without a cheap flight attendant. violated security regulations. founder and

it so there is not really a lot of momentum at the moment behind a second referendum at all in the u k. and we're going to have more on that spot coming up later on the day that was our correspondent there speaking with us from london i want to go now again to business daniels' here venezuela's economic crisis deepening people or hungry they're hungry and they're hurting at the moment brant venezuela's economic collapse is grinding down on the poor and it's dragging ever more people into poverty the past year has seen inflation top two thousand six hundred percent in any other country consumers would just buy cheaper inferior goods but for a majority of venezuelans there just aren't any alternatives. for sad sight shells have never been so empty in venezuela and it's getting worse what's the point in the government reducing the price of staple foods or none are available anyway. not it's painful to see the shelves because there isn't anything to eat i've got three things all i could get from fall asleep my heart hurt because lowering prices is not the way the government should be actin

that are worried at one of the biggest chains more than half of their staff citizens from outside the u k. pratham has warned that only one in fifty people who apply to their company is british and that they would not be able to fill all the vacancies just with british workers there is no extra training for british touristas but the first for coffee in the u.k. seems massive and thus artisan coffee lovers are hoping that even reese this will continue to be able to enter the country even after predicts it. a new front has opened in yemen's protracted civil war four people have been killed in a second big of fighting between rival factions looking to gain control of the southern fourth city of aden the government is based in the city and it has accused separatist of an attempted coup the unrest is a fresh threat to the authority of the country's president who remains in exile in saudi arabia. it's a new front in yemen's years long conflict here many separatists fighting government troops in the south and city of aden in the forces had previously been on the same side in the civil war betwee

done and whether it would expedite urgent asylum cases to reunite them with relatives living in the u k. for those working on the front line of this crisis the expectations have led to rumors that asylum seekers only need to come to cali to get to the u.k. and that's led to large numbers of people turning up here i do feel people have false hope because of this misunderstanding and because there's been no effort to explain any of the changes there's been no effort before on to explain to people what asylum in sales and fronts despite the challenges the young the desperate try to find any way they can to reach britain no matter how dangerous the police attempt to stop them climbing on to lorries bound for england but they still take the chance and the risk they feel is worth it to leave behind a life in france that hangs in the balance on a diagonal al-jazeera kalai millions of the students of turned out to celebrate the country's national day january twenty sixth marks the day two hundred thirty years ago when british navy ship sailed into what is now botany bay but indigenous australia

delight of construction workers locals delves deeper now into the president's decision not to visit the u k. this is what all the who is about is the new u.s. embassy in the area of nine elms which is being regenerated into sort of an embassy quarter. to the public next week donald trump was supposed to arrive in february which is widely expected that you'd be cutting the ribbon then that's not happening any more clearly the old building of the u.s. embassy on that was on the sort of grand old square in the very heart of the city in the center of mayfair which many people know is the most expensive location on the monopoly board but the interesting thing about the president's tweets is that there was a slight error he accused the obama administration of selling that old building for peanuts it was in fact the bush administration before him and there have been suggestions that this whole embassy rau is a way of diverting attention away from the fact that perhaps the president didn't feel like he was going to be particularly welcome in the u.k. almost two million people has signed a petition

make a u. k. . thing losing. still. a. guy like a nas and giving them some go to my muskogee to give me some said time time kid now in our garden i was up on a good bottle got to take me to house and again gigantic you want to be in time i must ave. to be setting down jobs really. still. something magical global man on the sun not just holding. our. oh. please. a little boy being made in god's sight i thought i was the baby. and i don't friend has any new yet there's a foolish family that i wish it was. friends as. if i was that built in the. plan. hi. you know larry and i have yet. we go somewhere. some way by family and. friends. like them back if. i'm assured that it was something back oh yeah. it's unlikely to travel to the bad place of the music they like and share the stage with the legend they chose. to not. ask for this time how does it. how i referred some rather lively showers just around the eastern side of the mediterranean recently things now in the process of clearing away you still see that area cloud just s

make a u. k. . thing losing. this. state oh thank you. thank. you. thank you ok i'm just not giving them some go to them is going to be good some said time time kid now i'm not going to move because of. a good job i don't get anything because i'm not a good gigantic you could be a ton of money because i don't. need to be saved and got jobs really. still. something and a global man on the sun just holding. our . oh oh. oh oh oh oh. please. hurry made in god's sight i thought i was the baby down and i don't friend have any new years there's a those families that i wish. i was. friends. with if i was that still today in the. play. hi. you know larry and i have yet. secondly. we go somewhere. somewhere by the family and their friends. like them back if. i'm assured that it was something back oh yes. it's unlikely to travel to the birthplace of the music they like and share a stage with the legend they chose. to. ask for this time how does it. from cool brisk noise and fuel rods. to the warm tranquil waters of southeast asia. hello and welcome to look at

need france more than the france than france needs the u k. well it was interesting that i mean it was certainly wasn't a meeting of equals was it in a way the summits of this sort under previous administrations back in time might have been seen to have been as you say micron this rising not just to you but world leaders to resume a barely politically stable at home and to the extent that this was a diplomatic foray it was one that britain pretty much undertakes on the back foot the question of who needs whom more i think is an open one is to resume a pointed out upwards of a hundred billion dollars worth of trade that these two countries particularly between themselves enjoy not just within not just as the e.u. as a whole but they are neighbors they do share a border they are similar sized countries similar sized economies a lot of what they produce goes to each other so i think they probably need each other an awful lot and to say nothing of intelligence sharing at a time of crisis both countries the subject the target of violent attacks at

make a u. k. . thing losing. still. a. guy like a nas and giving them some go to memphis going to be good some said time time kid now in our garden i was up on a good bottle got to take me to house and again joy i going to be in time i must ave. to be setting down jobs really. still. something that a global man on the sun just holding. the hour. oh. oh oh. please. a link made a funny when i saw the beatdown and i don't friends any new year that is a foolish family that i wish. i was. friends as. if i was that built in the. plan. hi. good ole man that he had the last trace secondly. the girl somewhere phone shut away by phone them on kind of their friends. like in pakistan. and there should be there was some taking back a year. the . and we've had some severe weather of a possible stray a recently being new south wales where we've seen some of the worst of it was a scene the wind so. they've ripped up trees and also ripped the roofs off sounds as well just about make out the little thunderstorms there is a graduate of what

that we deal with the issues being raised around clause 11 and the that need toowers remain at the u k to ensure internal markets. powers will be abolished in the administration. we continue to work with the administration on this and will be bringing forward amendments to clause 11. >> order. we are standing by for the house to come in. leader mitchty mcconnell announced the senate will be adjourning and come back tomorrow morning at 10:00 a.m. at noon february 8. a reminder that when the house comes then, we will get that live for you on c-span. wanted to give all our colleagues and update. >> south carolina, rise. consent thatimous when the houses adjourned today, it is adjourned to me tomorrow. the gentleman from south carolina, rise. >> either that the house now entering. >> those in favor say i. those opposed, no. the motion is adopted. the house and adjourned until noon tomorrow. announcer:

manufacturing data in the u k growth slowing more than forecast in december, retreating from a four-year high as you can see. 57.9 was the estimate. the pace of expansion left quarterly averages of the highest level since 2014. one of the stocks that is moving. down by 1.4%. expecting to take a charge of $1.5 billion as a result of -- as a result of the recent tax changes. bp and its peers expect the legislation to be positive for earnings. a one-time charge driven by the remeasurement of the deferred tax position. it could be as high as 2.5%. bp down by 1.4% and a very happy new year to you. vonnie: happy new year to you as well. what to expect for the year ahead. joining us from philadelphia is jeremy siegel, finance professor at university of pennsylvania's wharton school. are we headed for 25,000 this year? jeremy: we are certainly very close, within a percent but i think this is going to be a tougher year. i think we may get a correction for the first time in a long time. that is a 10% pullback. i think the market will end up between unchanged and up 10%. i think the biggest challen

trump's twitter driven foreign policy we spoke with scott lucas from the university of birmingham in the u k. this is someone who should be regarded as issuing a statement of policy having spoken to advisors having to look through documents have a good sort of situation this is a man who watches t.v. in particular the channel fox news and then he immediately reacts in the case of pakistan you might say that there is a background to this that makes sense and not there are tensions between the u.s. and pakistan over how to approach the afghanistan question how to approach insurgency in pakistan that's been going on for years in the case of north korea to mention another tweet to simply just again threaten war just at the drop of a tweet that's irresponsible and then in the case of palestine the subject of discussion right now to you know to to say look this will be positive in any way given the israel palestine issue just to threaten to cut off aid to woman side while giving almost unconditional support to the other after the jerusalem recognition thus not a sensible foreign policy is not sens

make a u. k. . saying losing. a job and there's still. a. q ok i'm just not giving them some go to my muskogee can get some said time time kid now in our garden i was up on a good bottle got me to move us in again john i go you go big time i was on. the suv he said and got jobs really. still. something that a global man on the sun just told. you. oh. wow. wow. wow wow wow. please. a link made that guy suddenly i took the bait down and i don't friend have any new yet those families that i wish. i was. friends. with if i was that still today in the. plan. i. to go lay that he had last place secondly. we go somewhere. some way by five am ok. let him back if. i'm assured that it was something back oh yeah. it's unlikely to travel to the birthplace of the music they like and share the stage with the legend they chose. to. ask for this time how does it. hello there this is a weather continues across parts of north america here's the storm responsible still developing as it runs its way towards the northeast so for new england and for the eastern p

it centers around sky news in the u k and europe. they are pursuing the things they can do there.rust that will be outside the ownership or control of 21st century fox. there are some things they could do to remedy the situation. that's why you are seeing the sky stock up on the news. vonnie: our thanks to paul sweeney. bloomberged that television produces a global breaking news network for twitter. mark: coming up, we are less than 35 minutes until the end of the session. .5% -- is up by .2%. the stoxx 600 gaining for the fourth consecutive day. this is bloomberg. ♪ mark: it is midnight in hong kong. from bloomberg's european headquarters, i'm mark barton. vonnie: i'm vonnie quinn. this is the european close on "bloomberg markets." mark: here are the stories we are covering. the bank of japan signals the age of using money isn't over yet. stocks higher today. the debate between active and passive investing. what works best in the long run? we have an exquisite interview with dick weil. live from davos, we will hear from the canadian finance minister. what he expects from the late

in the u k, investors were disappointed by christmas sales from tesco.ales rose less than expected. clothing sales were down almost 3%. sentiment is described as fragile and volatile. that is your latest business flash. vonnie: still ahead, our stock of the hour. we are talking a swedish company. hexagon. we will tell you the maker of measurements technology is rising. ♪ vonnie: in new york, i am vonnie quinn. mark: and live from london, i am mark barton. this is bloomberg markets. are stock of the hour is surging after its chief visit give was cleared of insider trading -- chief executive was cleared of inciting trading -- insider trading. julie: this is the best-performing stock in the stoxx 600 today in europe. butgon is based in sweden this was a court case in norway because insider trading allegations had to do with a norwegian company called next biometrics. 's broker hadxagon allegedly bought 2000 shares of next just days before next announced a private placement of shares to roll with holding company green bridge partners. it is convoluted. green

a conservative party in the u k is looking for a second referendum to brexit. polls suggest later this year that 80% of the u.k. thinks brexit is a mistake, which may be a reason to take a second vote. austria's new chancellor says the country should keep post-political economic and even military ties with great britain after brexit. the chancellor spoke to reporters alongside the vice chancellor. the conservative people's party and the freedom party have taken a hard line against immigration. global news 24 hours a day, powered by more than 2,700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. david: we've learned the united states added about 148,000 jobs in december, less than expected, but enough for the economy to gain momentum in the new year. wages are up 2.5% over the last year, but remain lower than expected, even that we only have a 4.1% unemployment level. -- garynnolly addressed cohn address that issue. >> unemployment rate is still 4.1%. we are going to see real wage pressure here. wages our next guest says ma

the worst-performing housing market in the u k last year or the first time in more than a decade.ationwide eldin society, london home values fell one half of a percent, the first full-year decline since 2009. home prices nationally in the ..k. rose 2.6% we will finance and if the force has awakened in china. the latest star wars movie opens in chinese theaters tomorrow. china is the last major market to get "star wars: the last jedi." it is never had the same following there as it does elsewhere. globally, the movie has taken in more than $1 billion at the box office. that is the latest bloomberg business flash. investors can breathe a huge sigh of relief. everything is on track come according to steven maijoor chairman of european securities and markets authority. he spoke to bloomberg. she asked him if stock trading cap's were being implemented earlier than expected. it will have longer-term impact. alreadythe impact were visible in the past weeks and past months. the unbundling of research and execution, for example. while some other impacts of mifid, including moving more towa

mark: higher and shopping in the u k facing competition from discount stores. of sainsbury spoke to us about the challenge of the holiday shopping season. >> there is no doubt consumers are under more pressure. andre well aware of that, we have seen that well documented across the industry. we are very pleased with our relative performance as we took share in general merchandise and clothing. if we look back at christmas, customers were looking for value, customer service, and flexibility. it was really an online christmas with 20% of our group sales online. our grocery online business growing over 8%, and our fast-track for our delivery with so it wasgrowing 25% a robust performance in a challenging market. >> that message to investors is about online. how much more will you invest? if we talk to you as the cfo in terms of capital, is that where the next lump of capital goes? >> if you think traditionally retailers of the last 15 years would've spent a lot of money on stores and real estate, we opened a handful of stores and the big capital investment is not g

in the u k, a man was scolded from the arena bombing while pretending to help them is headed to prisonenced him to four years behind bars, telling him it was hard to imagine a "more reprehensible set of circumstances." parker received worldwide attention after claiming to have helped comfort the in -- injured and dying after the explosion at an ariana grande concert in may of 2017. global news, 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. vonnie: mark, thank you. investors taking a cautious town today. u.s. stocks on pace for their biggest two-day decline since august. the 10 year yield has been above 2.7%, its highest since 2014. fomcis ahead of the decision. janet yellen's last meeting at the helm of the federal reserve. here with us this michael cloherty. congratulations. you called us. by the end of q1. is this the beginning of a major selloff, or we seeing pullback? michael: i think we will see one last push higher. then we set stabilization into the middle of the year. one of the issues here is usu

fox owns three major newspapers here in the u k.eporting first-quarter revenue numbers. 1.1 4 million pounds. -- billion pounds i should say. this is a sector that many people are looking to see what kind of boosts they got in the last quarter after the demise of some of their rivals. companies such as easyjet have benefited. they are under a new ceo. fares hasof uplifting he been able to achieve after the demise of the rivals. we will keep an eye on sky and on easyjet. ones: kuroda's statement is that will be latched on. more comments coming through. the next bank of japan governor needs to have a global perspective. what a day to make that announcement. the world, record after record after record in the united states and asia. the bank of japan is pushing back against that noise of any race to the exit. it will be the ecb that wins the mantle this week. stocks are higher. even though cable is at its highest level, the market is so long, we have not seen it this long since 2015. you are seeing the market rise. is that on the back o

it will be the third venue to host a regular season game in the u-k steph curry remains day to day afterravating his sprained ankle during shootaround without curry and klay thompson the warriors stuggled against the clippers. in kevin durant's milestone night... after becoming the second youngest player to reach 20-thousand points. the warriors were not able to stop lou williams, who drop 50... setting a new career-high. turnovers and fouls were a big part of the team's blowout loss to the clippers. steve kerr explains what went wrong last night <> to some college hoops stanford coming off to big week after beating u-s-c and u-c-l-a at home. tonight they were up north taking washington state. --daejon davis, who hit the half-court game winner against the trojans on sunday... talking to his high school coach before tip off. -- the cardinal under classmen have been playing really well kezie okpala... takes it to the rack... scores 21 points off the bench -- after trailing at the break -- dorain pickens hits a triple senior guard... 28 points, 7-10 3pt --stanford wins 79-70 third straight

at four times the recommended dose ordered from a website based in panama it was dispatched from the u k. even more amazing is this molecule sent from china known as f g four five one two pharmaceutical abar trees are still testing its effectiveness against certain forms of anemia so does around four hundred euros a gram one month course of treatment for elite athletes would cost almost three thousand euro news. these products a proof of worldwide trafficking a parallel market with its laboratories websites and dealers spread out all over the world a global market which athletes willingly use. anybody twork new depreciation or your mobile to do it all or similar or is it an admitted you nestle narrative of who are you to bet is that the next you to me you know the popular or soon you will do best remote when you don't show me a species on time when you point me to or observe it is almost sophisticated yet because of the pull you must go on the previous you're gone off and on to be me some your city sit ups in my own drums ruin some song realms of it to julie if you falsely produce what i

s-o-u-k. >> souk. souk. >> seth: souk, that's it. you've got lambs, goats hanging and all of this stuff. and you're going, wow, fascinating. [ light laughter ] and you're walking around and then you see these hand-made bags. >> seth: yeah, they're beautiful. >> incredible hand-made bags. and you're going, "my god, the workmanship. and the thing --" and got to have one. 80 bucks? that's nothing. it'd be 500 -- so you buy one. you take it back to the hotel room. and i don't know why i didn't smell it in the souk. >> seth: uh-huh. >> but you get it to the hotel room, and it stinks. it just reeks. and you put it out on the little balcony and you can still smell it through the -- [ light laughter ] and you go, what the -- and then it's because it's been tanned in cow urine and pigeon [ bleep ]. [ laughter ] it's been mixed up, because that's the secret ingredient that makes it feel so -- [ laughter ] we googled it, and they said, "you know, took me six months to get the smell out." >> seth: really? >> yeah. so i just said -- i went and ga

citizens from outside the u k. pratham ozzie has warned that only one in fifty people who apply to their company is british and that they would not be able to fill all the vacancies just with british workers there is now extra training for british baristas but the first for coffee in the u.k. seems massive and thus artisan coffee lovers are hoping that even researchers will continue to be able to enter the country even after pricks it. now it is january and some people opting for dry january so no alcohol for a month off to the festive season of classing perhaps enjoying a drink or two but in lithuania when the clock struck midnight on the last day of the year the government source which everyone living in the country had a harder time finding their favorite tipple not only is the drinking age being increased in alcohol shopping hours cattails but advertising is now also that. lithuania's biggest distributor of foreign print media has been forced to rip full page alcohol ads out of foreign magazines and if the ads

citizens from outside the u k. president has warned that only one in fifty people who apply to their company is british and that they would not be able to fill all the vacancies just with british workers there is no extra training for british tourists but the fest for coffee in the u.k. seems massive and the us artisan coffee lovers are hoping that even this will continue to be able to enter the country even after breaks it. it's time to get back to you know in the philippines most active volcano or beyond the country's president. has visited all but a province where tens of thousands of people have been displaced by that active volcano mount my own it's been a jack ting lava and ash for the last two weeks geologists say there could be a major eruption within days. the philippines most active volcano is at it again for weeks now mount my own has been spewing a white hot cocktail of gas and volcanic debris down its flanks complicating matters nonstop brain is mixing with the volcanic ash and rock that's resulted in

close to 2% in the u k. what we are seeing is the age of caution coming to an end.anufacturing indices are up theire people are linking 10 call verizon. they are willing to take long-lived risk. this is the part of the cycle when things get back to normal. extensions do not die of old age, the dive excesses. now we will probably see the first sign of excesses in the global cycle reflecting that. is a good that rates are going up in that environment? kallum: just basically looking at the bank rate, that's not what counts. it's the equilibrium interest rate goes up this year by more than the central bank interest rates, monetary policy could be getting easier, which fuels the cycle. anna: thank you very much. he'll stay with us this morning. coming up, japanese equities rally in the first trading day of 2018 and the boj governor says the economy shows steady growth. we'll discuss japan, next. pushes back ofa production target for its model three after shipping fewer cars than expected. elon musk discusses those challenges. ♪ sydney, live shot of beautiful shot across

done and whether it would expedite urgent asylum cases to reunite them with relatives living in the u k. for those working on the front line of this crisis the expectations have led to rumors that asylum seekers only need to come to cali to get to the u.k. and that's led to large numbers of people turning up here i do feel people have false hope because of this misunderstanding and because there's been no effort to explain any of the changes there's been no effort before hand to explain to people what asylum entails in france despite the challenges the young the desperate try to find any way they can to reach britain no matter how dangerous the police attempt to stop them climbing on to lorries bound to england but they still take the chance any risk they feel is worth it to leave behind a life in france that hangs in the balance on a diagonal al-jazeera kalai. spain's government is mounting a legal challenge to block a political comeback by the former catalan president carlos push them all because the mom was chosen earlier this week as the separatist party candidate to lead catalonia

better than expected and stronger end of year then anticipated with heavy commercial volumes in the u kther european and asian markets. that is a bright spot, especially at a time when there is so much uncertainty hanging over the real estate market. is retiring,eo being replaced by another high-ranking executive, so there is not going to be a gap there. , pretax profits beats estimates. this could move in the beginning of the session. what do you expect from jp sports? aleksandra: that is expected to -- sales over the christmas season were particularly bright. some hope for retailers there. a presence in the u.k., as well so that will be interesting to see. guy: alex, thank you very much. , joining us from our stocks team. you can check out all of the fantastic news every morning. you can find that on your bloomberg. coming up, the market open. futures are pointing to a recent -- reasonably positive start. the u.s. is called sharply higher, the doubt by up -- by .1%. this is bloomberg. ♪ ♪ guy: minutes till the start of cash trading in europe. what kind of a session can we anticipate?

in the u k, we have gone from being the economy that was doing surprisingly well post-brexit to doingve been overtaken in a relative way in the optimism. we are pretty cautious here too. manus: let's tie this together because you have seen moves in cable. these are the risk reversals on sterling. you are breaching pads for the first time since 2009. turnaroundincredible in a very short period of time for sterling. what does that do to the gilt discussion? what does that do to the u.k. discussion? we're at a eight-year high on risk reversals. tim: this is really a dollar sterling trade rated has not been so impressive. yes, we have had the creeping higher of sterling versus the dollar. two of the most unpopular currencies in the pack at the moment. currencies have been powering ahead. mexico is recovering. this is not the top of the table. anna: ugly competition in the currency markets. tim haywood from gam. that is it for european markets. the open is next. your car,you are in you have the podcast, digital radio, you can listen to everything they have been covering through the day. th

will keep an eye on the politics, macron in china, the german coalition talks continue and here in the u ke in the offering. that's according to the cfo survey. of 2018,ps the risks which corporate seemingly reacting to slower growth and uncertainties raised. cfoing us to discuss, the -- sorry, chief u.k. economists has just conducted this and he is here with us. ian, good to have you with us. cfos in the u.k., he surveyed a lot of them, made from the ftse 350. are they all about brexit? that all that's worrying them? guest: their top concern is brexit is an increasing concern and actually, the survey. settlementddles the of the second. of the talks. although we are moving to trade talks, there is increasing concern about brexit, the highest level we picked up since the referendum. the other interesting thing is domestic concerns are in the front seat. slower growth, productivity, much greater optimism about the rest of the world. manus: what i found fascinating is that too diametrically opposed has its come up 51% are focused on cost for the next 12 months, the other side of the coin is t

the u: k.‘s very worried about the future of the city of london.t it once, and that there can be no special arrangements of the city of london. they go into the talks fairly far london. they go into the talks fairlyfarapart, and london. they go into the talks fairly far apart, and while the uk is in germany, the eu throughout this process has so far shown it is very solid as a negotiating block. before their trip the pair wrote an article in the german newspaper frankfurter allegmeine saying... for the german perspective — here‘s the german—british chamber of commerce. i think they are trying to get the best dealfor britain. i think they are trying to get the best deal for britain. whether they will succeed remains to be seen because from the german government point of view and the european union point of view and the european union point of view and the european union point of view, yes and original deals might help individual businesses, but the germany and the eu it is also important single market stays intact, and therefore it will be difficult

a referendum occurred in the u k and people voted by a narrow majority for brexit.'m not sure that constitutes a majority for a hard brexit. london voted to remain. my role as the prime minister of ireland, as a european head of government really, is to deal with the facts as we find them. we have to operate on the basis that they are leaving. if there is a change of mind, that is entirely up to them. francine: you said you want deep free trade agreement to the u.k. and the eu following brexit. are there divisions between the countries about what exactly that means and what financial services would be included in it? >> i think there are certainly different perspectives. we are trading now more with the eurozone than britain. we are very enthusiastic about having a free trade agreement and a customs union. i know a lot of the countries and central eastern europe have a similar view. other countries might not be as concerned. financialain, services, those will put your finger up in some ways. the city of london would like access to financial services and markets, but