the u.k. were to break from the eu. members argued it was best for the u.k. to stay with the eu. here is the first hour of that debate from the scottish parliament in edinburgh. >> motion number one, membership wishes to take part in the debate should speak now. >> scotland has been an integral part of the european union for 40 years. it will remain a priority for this government. we stand near a crossroads. the outcome of the general election has resulted in a referendum bill which lays the ground for a referendum in the u.k. before the end of 2017. whilst the scottish government remains clear we do not support a referendum, a referendum is now a reality and we must deal with it. it fails to meet the gold standard of the independent referendum in regards to the franchise on reform. this snp government set out reform goals in 2014 and these can be achieved without change. the presiding officer will make the case of the benefits of eu referendum, why it is vital the membership continues, and wh

the u.k. of 20 billion pounds between 2001 and 2011. the loss of income would cost all of us. by being a productive member we can share our voices and shaved eu laws and policies to ensure they are of benefit to our citizens. alternatives such as joining nafta offer -- [inaudible] as the norwegian minister of foreign affairs highlighted a matter of days ago we have to implement all eu directives, we are not around the table when they are discussed in brussels. none of us today will be able to vote to amend the actual referendum bill. that should not stop us from expressing our views on it. it fall short in a number of areas. the 16 and 17-year-olds who voted in a referendum are engaged, thoughtful, concerned citizens we knew they would be. the case for letting them vote in the referendum is overwhelming. >> is the cabinet secretary aware dr. wollaston in this morning's debate advocated precisely that point. she is a senior conservative chair of committee. >> i'm very grateful for the member an

the u.k. comes from outside, many eu citizens live and work across the eu. perhaps, you could look at the labor -- fresh talent working. perhaps we could update this. i believe that the referendum on the future of eu membership in thousand 17 or whenever, is -- eu membership in 2017 or whenever, is another crucial milestone on the rocky road which is the debate for the last 10 years. nobody arguing that the eu was perfect. i think it is a force for good. for jobs, services and workers rights. let's avoid all costs and wastelands. >> thank you. [applause] >> 40 years ago we experienced the first referendum, at a time when the party was divided. after it the nature of these negotiations being carried out were not entirely clear. of course, must have changed. it is now a member union of 28 states. my own party has fully embraced the eu, recognizing its importance to scotland. in contrast to the 1975 government, government ministers that were not to be free to campaign, or at least that seems that

u.k. presses will back promise to david cameron's bid to keep the u.k. in the eu if he helps the economy. the british chamber commerce have signal five key reforms they want to see and what it calls a clear and balanced approach to immigration. we will be discussing that with the director general at 10 past 10:00. what else is coming up this morning. at 9:30 a.m., the editor of a newspaper and is take. at 9:40 a.m., the cofounder of strike. it processes twitter and pinterest and others. it brings us to the twitter question -- will we still be using cash 10 yearsa from now? ♪ francine: welcome back to "the pulse." chinese stocks today and last week, the shanghai composite index over 2% after down in early trade. let's bring in richard. what was behind the dramatic rebound? richard: it is important to remember is a public holiday. the first time the chinese markets to react after the heavy selling the biggest weekly loss in 70 years. we saw initially that the market headed downward. before r

biggest u.k. parties say they want to stay in the european union. overwhelming support for european union membership in the westminster parliament. yet here we are in the united kingdom standing carelessly close to the exit door at the e.u. and the prime minister is seeking to appease that that's their eurosceptic opinion and at some party with the united kingdom independence party are unlikely to be a piece by renegotiating membership of the european union. it is for the u.k. to exit the european union. effort in the u.k. as a whole and the approach seems especially odd to many people in scotland. the general election last month across the whole of the u.k. parties which were to leave the european union called around 12% of the popular vote. just this week we've seen an opinion poll showing 72% buy that to remain in the european union with 28% and that is not surprising given the economic investment and there are some 300,000 jobs every via exports to the european union. membership of the union i

the u.k.chancellor would use his annual speech to the city of london to set out plans to reform britain's fiscal framework. george osborne will commit the government to talks of new finance rules that will require it to run a budget surplus. now, the bank of england governor mark carney will speak at the mansion house dinner. now, let's take a look at what else is coming up on "the pulse ." at 9:30, we get u.k. manufacturing data. at 9:45, we will look at london's luxury housing market. and then at 10:00, we will hear from the u.s. -- uefa president speaking in paris. sepp ballatter's successor could be chosen on december 16. up next, the highlight of my morning we will be speaking to the deputy leader of germany's ruling christian democratic union party. we will talk about angela merkel and greece coming up next. ♪ francine: welcome back to "the pulse." breaking news out of china. this is something that the chinese government has started a couple months back. it's now decided today to swap mo

the u.k. courts to not have the power to strike down a provision in an act of the u.k. parliament, which is incompatible which convention rights. all we can do is interpret the provisions so that it is not incompatible/ there is an amazing amount you can do with interpretation. [laughter] i won't get any examples now but there's a lot we can do. or it is not possible, we can make a declaration of incompatibility. parliament had three choices. first, iteratively approve a remedial approving counsel. -- it could approve a remedial approving counsel. second was an act of parliament providing an excessive plan to deal with compatibility. and third, do nothing and risk the loss of the council of europe. so far, all the 19 surviving declarations of incompatibility have been acted upon by the u.k. parliament. most of the time it worked. one exception is that they have not yet amended the so-called blanket ban on the sentenced prisoners voting in elections. when they do that, can they please tack on that those who cannot vote and are in the house of laws can vote? might i sugar

he u.k.w, last year, he said russia stripped of the 2018 world cup that they had one and: has the most names on the list, about 19. the u.k. has about nine, and then there are others scattered throughout the eu. manus: as he said, nick clegg made it onto it because he criticized the world cup. give us a sense of the reaction so far? reporter: well, the eu says it is unjustified, and there is no basis for it. it is still a confidential list as far as the russians are concerned. they have not put it out publicly, although it has been leaked. the eu is basically saying there is no basis for this, and russia has not given the legal underpinning for doing it. it is obviously in reaction to the sanctions that the eu has put on russia in the wake of the situation in the wake of the conflict in eastern ukraine. but at the same time, they are saying that it is not justified and that there is no reason for this. some of them have gone on twitter to say this is actually a badge of honor to be excluded f

the u.k.nd that is one of the areas that have been more clear. across the border globally, they are going to make many of these jobs around 21,000 positions will come from the back office and support functions. francine: i am surprised, richard. it is such a huge a bank and with not heard about really downsizing it or breaking it up. it is something analyst asked for. richard partington: the bank is global and hugely complex. one of the most complex in the world. that is something they are seeking to address. it's hard to be that size in this day and age in jurist -- in multiple jurisdictions looking at your balance sheets. you have to increase the number of compliance staff and as a huge cost. they are seeking to make savings elsewhere. francine: let's bring in one of our bloomberg view columnist. mark we were talking about a just received a couple of weeks ago saying that were looking to relocate elsewhere. we understand a decision will be made by the end of the year. this a huge bank. what

u.k. position on ukraine and russia with the international community's position and the sanctions against russia. and a voice of support for the international community. we support the efforts of the international community and one of the severest threats i don't think they take a remarkably different position on international issues. we don't. we are part we are a participant . my party wasn't it government at this point in our nation's history. they take a different view that it was in iraq. there are some issues that we have taken a different view and there will be issues in the future. the war in iraq, we were not in international community, it was the wrong direction to take. it will be a responsible voice on international issues. right here in the front row. >> should there be in the future an independent scotland i think one of the greatest concerns in the u.s. is how the defense structure would be disentangled. i wonder if you would speak about your vision for how defense would be

what i would say, if the u.k. wants to come out of the european union, it is unlikely scotland would want to come out, and that scenario may make people look once again at the independence question. it is important that we are making the positive case within the european union. there are lots of jobs and investment dependent on that. i think david cameron is bringing the u.k. dangerously close to the exit door. that would be dangerous. brendan: i want to sit -- i want to stick on this theme for a second. how did the u.k. elections change the calculus for the scottish independence? minister sturgeon: it gave scotland the opportunity to have a much louder voice within the united kingdom, and that was very much the legacy of the referendum. we came out of the referendum campaign, scotland had voted to stay part of the u.k.. but suddenly thought, if that is the case, we want to much -- to have a much louder voice and influence. brendan: used it after the election and said we are not going to have business as usual. no

so the u.k. consule in berlin is involved. and the german authorities have a headache of explaining why their police executed an arrest warrant which interpol rejected. >> an online petition has been signed. german politicians came out in support of mansour. the leader of the green party defeated: >>> the international federation of journalists, arab organization of human rights and others have condemned mr mann mansour's arrest. protesters gathered to show solidarity. there'll be no further moves possible until the case goes to court on monday >>> paul, there's a lot of questions in that report and surrounding this case. what is happening to mansour today? >> mansour spent the night of sunday night into this morning at a prison part of a complex of a building you can see over my shoulder we are outside the front of the court part of that complex. and around the back are the prison cells and the barbed wire and the control tours where he has been spending his last 12 - sorry, 12-24 hours. and what is happening this morning is

if the u.k. leaves the e.u., and i want your thoughts on that what does it mean for the europe bloc? you lose a massive force which is for free capital and markets deciding. luke: i think it would be a tragedy for us and them, so i think that's why we have to push very hard indeed to reform and i think we are a huge trigger. you look at countries like denmark now. they have a more sympathetic government. you heard what the italian prime minister was saying this week. as you say germany is in favor of free enterprise and removing structural barriers to growth. so he have a feeling that, in a way our referendum might be a trigger for the e.u. to really question some of the bureaucracy and things holding back growth and preventing europe reform. you know, it's about addressing the vested interests and preventing them from allowing these countries to expand and be prosperous. manus: when you see how europe is dealing with greece it doesn't exactly golden the hope for radical shakeup or restructuring,

the referendum in the u.k. leave the union she says this adds pressure and the eu will have to cede to u.k. demands. anna edwards: let's get further reaction and talk about the greek situation. the chief economist at lloyds joins us. the chief investment officer, ian. let's start with the grexit. there are markets feeling a sense of optimism and they have been buying in an optimistic mood. are the investors right to be optimistic? >> we never got that pessimistic. we settled with nothing compared to 2012. there is a sanguine view if greece exits. i have no idea if this is the beginning of the end. whatever happens, greece is set for sluggish growth over the next 2-3 years, given the scale of their debt and the lack of deep structural adjustments in the economy. it is hard to see greece being able to rid itself of the underlying debt problems. anna edwards: they focus in on the soon-to-come deadlines. alan, we talked about how it helps institutions. doesn't matter if they miss payments to the imf? -- does it mat

could the prime minister tell us when he will insure that all u.k. government department, all agencies an all employees will receive the living wage? >> well, we do want to make progress. obviously the scottish government has the advantages the additional funding it's been getting under the government. i do notice that con sen us the in the scottish national part is rather broken down over fiscal awe tommy because of course, if they got poor fiscal autonomy they probably wouldn't be able to afford a living wage employer. i'm examining these things closely. the new member of particlement has called it economic suicide. the new member of parliament has called poor fiscal autonomy a disaster. it seems to me that the scoish national party's new approach is to demand something they don't want and to complain when they don't get it. >> thank you, mr. speaker on the first day of the fourth of july a neo nazi was planning a demonstration. and will you you join me to use the police to combat this anti-semitic demonstration. >> i think my honorable friends --

we back the u.k.'s contribution towards that effort and welcome the extra 125 military trainees being sent to iraq at the requested of the iraqi prime minister. as he said in his statement the iraqi government must be supportive in their effort to push back aisle's attack and security across the country. there's no need for further accelerating the equiping and training of iraqi forces. so come on out if britain is continuing to impress the iraqi government to do more to reach out to sunni tribes who are key to this. >> in discussion, can the prime minister confirm whether he sought specific assurances from president obama that are n.h.s. will be protected >> on climate change can the prime minister clarify whether the commitment to a global goal of greenhouse emissions production will be legally binding? but mr. speaker most of the press coverage was not about the global economy climate change or isil. it is about the tourist rally in europe. this is entirely of the prime minister own doing. on some d

a laboratory in the u.k. have received live anthrax from the pentagon in 2007, bringing the number of laboratories involved in the anthrax scare from the u.s. to 68, including 4 foreign countries. u.s. laborde torres have should inactive anthrax to laborde torres to help with biological warfare research. -- u.s. laboratories have shipped in to laboratories to help with biological warfare research. -- employees at europe's largest bank are bracing for a round of layoffs. hsbc will cut 25,000 jobs worldwide as part of a restructuring effort. 1/3 will be in the u.k. they want to focus on the asian operations, where it started 150 years ago. our business editor has more. >> it has been a business the set by controversy. -- beset i controversy. charges of laundering drug cartel money in mexico. >> hsbc has fallen short of our own expectations. >> today hsbc has cut its cost, with the u.k. bearing the brunt of an efficiency drive. 8000 jobs will go. >> people are shocked. they did not know this was coming. 8000 peo

the u.k. chancellor george osbourne said he will start returning r.b.s. to private ownership in the coming month even though it may cause a loss for the british taxpayers. he made his speech last night. >> in the coming months we will begin to see our stake in r.b.s. it is the right thing to do for british businesses and british taxpayers. yes, we may get a lower price than labor paid for it but we will get the best possible price. the longer we wait, the higher the price for the whole economy. francine: now just days after hsbc said it would decide whether to move its headquarters from london by the end of the year, mr. osborne spoke of his desire to keep the u.k. attractive to banks. >> i want britain to be the best place for european and global bank headquarters. it is in our national interest to be so. and i think with a combination of a highly competitive economy, skilled people, new infrastructure, good quality of life and the rigorous application of the rule of law, we can achieve that.

the u.k. provider of services is actually lower. the prophet is going to be waited significantly but it was looking pretty upbeat in terms of profitability. we have the data coming from france, germany, and the eurozone. we see french manufacturing rising. mark: let's talk about that french data. it is rising to the highest level in almost four years. markets economics saying the purchasing managers index rose to 53.4 from 52 in may. that is the strongest since august of 2011. that's the compass it index the index measuring both services and manufacturing. the gauge of manufacturing increased from 49.4. that's the first time it indicated growth since april of last year. the measure for services climbed to 54.1. cheaper oil, a weaker euro providing a boost to consumers and businesses within the french economy. we get german pmi data in roughly 20 mind -- roughly 29 minutes time. david, good morning. david: a very good morning to you. it was a very good session. we are closing up shop. about an

we will re-fence our u.k. liability. changing the brand. no longer called hsbc u.k..means if you mess with the city more, we will mess around with a cleaver. we may float it off independently or sell it and cut our liability. don't forget that hsbc is also moving investment banking down a run. -- down a rung. they will grow the asian businesses more aggressively. moving or naturally away from the u.k. anyway. jon: is there an investment opportunity or is it all just noise? guest: i think there is. different ways to play it. the banks. the government still has a 19% slug of lloyds. what about rbs? any company that has lost money six years in a row, 18% bull -- owned by the government, and doesn't pay a dividend and won't for a while -- not my favorite stock. lloyds pays a dividend. doesn't have a big investment banking arm to worry about. government comes with the discount. gets them in. jon: let's deal with the science. osborne has a lot to do tonight. governor mark carney, his job is not to generate the headlines from last year. i am looking at a rate hike priced in

the u.k. are looking at a referendum. does it make a difference to you? stephen king: and terms of the year of the referendum, not so much. i would argue sooner rather than later to reduce the level of uncertainty. that is not good for economic performance. it is clear that companies elsewhere the world that would invest in the u.k. are currently maybe having second thoughts thinking is it the place to really invest? is there were to be a divorce in terms whether wise are not to invest in the u.k., the u.k. has a larger balance. it an event for the deficit. -- it needs the investment for the deficit. francine: you think it why the impact of the ceos investing? i have heard people say it will not. stephen king: that is a different issue. i think the reality is there are enough people in this country perhaps to be swayed to vote for something people currently do not believe that could happen. the votes in scotland and alaska's referendum, much, much closer than expected. -- in the scottish refer

they have been trying to board lorries heading to the u.k.david cameron says his government is looking at boosting border controls around the city. several thousand people are said to be sleeping rough in the area trying desperately to make it across the channel. reporter: slowly inching forward, hundreds of trucks weigh their turn to cross into england. a strike by french ferry workers on tuesday brought traffic to a standstill, and it is only now beginning to ease. tuesday's chaos presented an opportunity for migrants desperate to make their way to england. >> in france we have a bad life. we are living in the jungle. we don't have nothing here. that is why we go england. reporter: they have tried to stowaway on board while police patrolled the roadways doing what they can to stop them. it is an ongoing game of cat and mouse. it also highlighted a growing problem in the port city. several thousand migrants are thought to be living in dirty makeshift camps around the city waiting for their chance to cross the channel. the question of who is

if the u.k. votes to? what does it mean for the interest rate george: i think you would get weaker investment. we are highly dependent on foreign direct investment. even in cash terms, we are only second to the u.s.. if that were to follow, you would see weaker economic growth. the bank of england would not feel comfortable raising rates quickly. guy: in a world that nothing is going to happen with the bank of england, interesting. francine: thank you so much, george buckley from deutsche bank. guy: back to the opec meeting. we speak to oil ministers and plenty of ceos. stay tuned for that, coming up next on "the pulse." two ♪ guy: welcome back. you are watching "the pulse." the sanctions have been lifted -- have not been lifted. the argument between iran and oil companies have begun. ryan chilcote is at the opec summit in vienna. let's talk about what it is going to take to get these two to tango -- the oil companies and iranians. ryan: if they have to get in if the sanctions are dropped, what is a deal t

u.k. is not just one state.a family of four nations-- england, scotland, wales, and northern ireland. and david cameron only won the election in one of those four nations, in england. fipg he is sensible will demonstrate or want to demonstrate that he recognizes the different parts of the united kingdom voted in different ways and that puts a responsibility on his shoulders to take account of the different views and the different priorities of people in scotland, wales and northern ireland. >> woodruff: how would that manifest itself in a concrete way? what would you look for him to do that he's not doing? >> in a scottish context to, recognize people in scotland want to see the scottish parliament become more powerful and autonomous. david cameron is propose something limited additional powers for the scottish government but there's an appetite in scott land for him to go further. scotland also vote forward a party, the party i lead, that argue aid different monetary policy. that there should be a standard of c

meanwhile, the u.k.es to wrestle with its relationship with the rest of europe. >> it's interesting. the battle of waterloo was one on the fields of eaton. -- won on the fields of eaton. the economy is going better than expected. it is just over 3%. more than a trillion pounds of investment. yet the conservative party is beginning tension about this whole thing. you have to be very careful. one thing the u.k. has which is unique is the city and the city needs european integration. anna: thank you for joining us. when we come back we will talk about technology. >> welcome back. i have got a chance of where the dollar index. a lot of questions remain about the fed. will this year marked the start of the tightening cycle for the federal reserve? no change in interest rate is expected from the fed today. we get a press release and a new economic forecast coming later today. no change expected in the interest rates. we get the forecast from the members about where they think interest rates are going to go in

it's not all about price and the u.k..here are lots of questions around price and value, in getting prices lower, but there's a lot around service the quality. they have made advances or not depending on your point of view in the last four concepts. it will be intriguing over the next six to 12 months to see what the future is and how tesco will start marketing itself better to its existing shoppers. caroline: it seems that they are improving. they did seem to have better -- they are getting more volumes. is dave lewis so far doing a good job? charles: i would say yes. he is getting very generously rewarded for his job. and it is a very tough job to do. we haven't really seen his position all over the strategy -- we have yet to see what his vision for the businesses. that will be fascinating to see not only on tesco but on the rest of the industry. caroline: do you think shareholders will like what they hear? charles: i think there is a degree to which -- prices continue to be down quite a lot year-over-year. people have s

in the u.k., something like 74% of businesses do not employ anybody because they are all self-employed people. now that is up 10% over the course of 15 years. so you have ended up with a situation where more people are employing themselves as consultants. that affects a lot of the sentiment data. businesses are not necessarily businesses anymore. they are tending to outsource. it affects things like the investment data. but when it comes to employment, we managed to capture that. when it comes to consumer spending, when it comes to stuff related to the household, we congenitally capture it. that is a tricky question because it depends on where you are looking geographically and it depends on which sector of the population you're looking at as well. the issue we have with the u.k. compared to the united states where there are some clear capacity issues, is that the u.k. does have a spare reservoir of capacity in the labor market which we store for the most part in poland and spain and ship in as r

the main indices of the u.k.ny, and france all down 0.6% in today's trade. >> shall we look at u.s. futures? a look at what we can expect on wall street today. of course a mixed trading session over the past couple of days following that retail sales number. the dow indicating a lower open by 26 points. >> just a reminder that we're still waiting for a french court to deliver the verdict in the trial of the former imf chief on charges of aggravated pimping. we're live after the break. more and more, data is visual. in fact, the number of mris has increased by ten percent a year. and a radiologist might view a thousand images to find one tiny abnormality in shape, contrast or movement. because it's so challenging a research project is teaching ibm watson to see. in the future, it could help clinicians spot key patterns quickly and precisely. ibm watson is working to make healthcare smarter every day. heroes charge! ♪ ♪ (lightning strike) ♪ (kiss) ♪ lead your heroes in the hit mobile game download heroes charge now

i think we have a most a million homes in the u.k. with those. we want to carry on with ease programs and make sure they get value for money. i hope it will not be seen as gloating to welcome him back. he is a rare bird, the labour mp. [shouting] >> thank you, mr. speaker. in my constituency -- [shouting] one of the issues that is constantly raised on the doorstep is economic migration from within the eu. the government has already taken steps in reducing things that draw migrants from the european union. can you tell me what steps have been taking to talk about economic migration from outside the eu? david cameron: can i welcome the honorable lady to her place. her election result was what i dreamed of. i am grateful. she is right to raise this issue. in the past, it has been too easy for some businesses to bring in workers from overseas rather than taking the long-term decision to train our work force at home. we need to change that. that means reducing the demand migrant labor, part of our plan. i can tell the house that the home secretary has

anna: the u.k.and the governor of the bank of england used the mansion houston or to outline their key initiatives -- mansion house dinner to outline their key initiatives. mark carney called for a cleanup of the city. guy: the bank of korea has lowered its key interest rates to a record low as the spread of mers risks derailing. it has killed nine people in the country. anna: angela merkel's government may be prepared to endorse a greek rescue payment in return just one reform from the creditors lists of demands. the government spokesman denies it saying germany will only act on a proposal made by the european commission. guy: let's look at what is happening with the markets. let's take a look at where we are standing in terms of the fair value calculations. let me show you what is going on. the ftse 100 expected to open down. the dax showing a little bit better this morning a fairly flat open is what we are looking at. slightly to the negative, which continues a trend we have seen of late. yesterd

at the summit, i announced the u.k. development fund focused on breakthrough medicines and we are also leading by example by promoting greater transparency over clinical trials and forming , our own team of medics that can deploy rapidly to tackle infection outbreaks anywhere in the world. the lesson for the slow response to ebola. finally, mr. speaker, there is the second year running that we met at the g7 rather than the g-8. president obama summed up the choice facing president putin. he can continue to wreck his country's economy and continued their isolation or he can recognize that russia's greatness does not depend on violating the territory and integrity and sovereignty of other countries. the g7 was clear about the position. diplomatic efforts must succeed in restoring sovereignty and integrity. existing sanctions must remain in place until the minsk agreement is fully implemented. we expect russia to stop separatist forces and use its influence to bring violence to an end. we were clear and i quote, stand read

and easy car in the u.k.rs who finance their cars through ford motor credit can make it available for rent to people that have been prescreened. ford, take a look at how shares are trading just down about .5% in frankfurt. >> i don't have a car but if i did i don't think i would like the idea of a stranger driving it. what if they make your seats smell. >> there's an opportunity this but not with my car for sure. they emerge with belgium rival and on the terms of the deal shareholders will own 61% of the company's equity with the shareholders owning the remaining percent. reacting well to the news off some 4%. >> another m&a story, cisco's deal to buy them may have been stopped in it's racked. they are granting a request by the federal trade commission. the regulator has been seeking to block the merger which would combine the two biggest u.s. food distributors. they have not said whether it would appeal. they did fall about 2% in after hours trade and if we have the board, let's bring it up and show you how

and u.k. interest rates to rise as long as growth continues as it seems to be on both sides of the atlantic. not in the euro area but this is another area where we need to recognize we're moving on from the financial crisis. the economy was in danger of disappearing into a deep dark hole. we need to gradually move up interest rates. if we don't do that now we'll have to move more aggressively in the future. i don't think people will welcome that. >> thank you. we'll leave that there. former mpc member and senior economic advisor. seema back to you. >> thank you and more on our wilfred frost throughout the show here on worldwide exchange. the u.k. government sold half it's stake in royal mail. it confirmed it off loaded the shares at 500 pence. a discount to yesterday's closing price. shares trading below that level. home retail sales saw a bigger than expected drop. the british hold house sales retailer said weak demand for tvs and tablets were to blame. stock up just about .3% in today's trad

they said they u.k.t's stake is below 90% full press a bank has seen from a cow has plunged. -- francine: casino revenue in macau has plunged. [indiscernible] guy: a smoking ban. talks between the u.s. and iran took a twist a break. secretary of state john kerry broke his leg and could complicate plans. hans nichols has more of the story. it's kind of art of the [indiscernible] perhaps as a poor choice of words. what kind of impact? hans: if you take secretary kerry at his word, he has racked up a lot of air miles and hot spots especially on the run issue. having him out of pocket will be hindrance to getting a deal. on saturday he has six hours of talk with his iranian counterpart and we are waiting on how it is received and what the senate republicans allow or do not allow in terms of how much a want to get negotiation. francine: the nsa spying program has expired. hans: they will reach a deal. it's a single senator senator rand paul from kentucky. he is passionate about this. it catapulted him earlier

u.k. time. tell us. you can tweet me. is also on twitter. ♪ francine: welcome to "the pulse." eurasia group president ian bremmer is still with us. thank you for sticking around. we have to speak about donald trump. he is running to become president of your country. ian: yeah. francine: what a speech. ian: yeah. francine: you wrote extensively about this. is it the lowest in u.s. politics for a while? ian: it is a $5 billion, 18 months election, which is a debacle. it is not the way a democracy should be run. we understand that. it creates also incentives for people who are not aligned with american national and its development to make a meal of this and donald trump is the worst example that we have seen as money has play the kind of role that it has in the u.s. economy. it is unfortunate. we will all talk about it. he will probably be in the top 10 in terms of name recognition. you will get him on stage. francine: is there a chance he gets nominated? ian: of course not. the point is that he is an ardent xenophobia. he r

they are nowhere near the standard required to drive in the u.k. >> reporter: standards in the u.k. are not the strictest. in finland there's a minimum of two years to contain a few unrestricted licence, and in germany, it involves mandatory time. as well as driving at night or in bad weather. >> and joining me here, traffic safety and advocacy director aaa. >> we mentioned earlier in the programme that there's no national standard for what you teach or how you teach to drive. do we ask enough of young drivers. >> we don't require drivers education. the good news about driver's education is it's shown through research that we have done, through the research foundation, that it can reduce crashes, and reduce citation. as compared to people that didn't go through the programme. we need to learn the rules of the road, and it can prevent us wheel. >> triple a has done fascinating research on young adult driving habits. what stuck out for you? >> one of the surprising findings was the degree to which teens were getting into crashes involving crashes. national statistics estimate 10% of t

u.k. gaming group confirmed merger talks with a rival. welcome to the program. you are watching countdown. i am anna edwards. there is plenty to talk about. there is a lot to update you with the greek story. let's start with the currency market. this is a picture of the euro dollar over the last three days. you can see the last few hours and it has been some promise from goldman sachs on where we should focus our attention. despite the greek story, goldman sachs says they are focused on the differentials between what the ecb is doing and what the federal reserve is doing with their move on interest rates or the anticipated move on interest rates. goldman sachs sees the euro heading for parity with the dollar. we have been expecting to see the strongest second-quarter since the first quarter -- the strongest quarter since the first quarter of 2011. let's bring you up to speed with what is happening on the greek story. the prime minister has been given until the end of tomorrow to find solid

>>> well 9,000 job losses in the u.k., and, as you said, this is a part of a more global strategy, andlan is to shift the headquarters back to asia, this is as strategy which has been announced because of that. and. what they are doing in the uk is trying to move this move, to blame the bank heavy, for its problems in terms of the prophet. and as we all know, in fact, the bank heavy, which is small tax on the total balance sheets of the debt, is really not the biggest problem that he have. they face fines and compensations that they have to play because of criminal and illegal activity because of money-laundering and financial markets, and turning around and blaming this in the case of the u.k. is really rather opportunistic. >>> is this going going to benefit it? >>> the restructuring for the u.k., this is a global restructuring but for the uk it's not a bad thing. the uk is relying far too much anyway, and moving away from just having very large bank might be in the end a good thing. so the question, that is on the mind is how can they convince hsbc to stay, and the actual question s

it will debut on june 30. >> the u.k.s will have its first debate on the referendum. speaking at the g7 meeting in germany, prime minister david cameron said it is in the interest to make changes. let me give you a heads up on what is happening. it has been all about the dollar for some time to go. let me show you what is going with the euro dollar this is the last couple days we are looking at. we have been climbing for most of the numbers. we are beginning to fade off a little bit. the story is whether the president said he was concerned about the strength of the dollar. we heard from the french apparently president obama said that during the meeting. the president decided he needed to clarify things in the press conference afterwards. president obama: i did not say that, and i make a practice of not commenting on daily fluctuations of the dollar or any other currency. >> apparently he didn't say it or that is what we have in lead to believe eerie at it is going to be interesting to see what happens with the euro-dollar

the u.k. is=jalready helping through our good governance fund and we'll continue to look at what more we can do. but we should never forget that ukrainians are the victims and not the aggressors. following the general election with our economy growing, deficit falling and unemployment tumbling people can see britain is back. we're working for trade deals fighting corruption, leading the battle against poverty disease, and climate change. we're fighting isil over the skies of iraq. we're saving lives in the mediterranean. and we're standing firm with sanctions against russia's actions in ukraine. on every front, we're playing a leading role in advancing prosperity and security around the world. and in doing so delivering both the economic security and the national security on which our own future depends. and i commend this statement to the house. >> i thank the prime minister for his statement. i welcome the conclusions of the summit including the reaffirmation of the g-7's commitment to fight

we have a reading for the u.k. labor market.one inflation at 7:00 it is the fed statement. that is it for "on the move," "the polls" is next. good luck for the rest of your day. ♪ francine: tsipras rips into the international monetary fund accusing it of criminal responsibility. rates under review. will the greek -- play into the federal reserve decision? we'll -- will the numbers give us any clue as to when the bank might raise rates from their all time low? so, welcome to "the pulse"

jonathan: bring it back here to the u.k.on't quote the polls, because sometimes the polls are wrong, but when you look at standard & poor's and their move on friday they are the only major credit rating company with aaa still on the u.k. fitch and moody's have moved. do you pay attention to that call on friday? jean: i think they are more playing catch-up with the other ratings agencies. i'm not clear how the link between the brexit and the rating i wouldn't pay much attention on that. jonathan: jean is going to stay with us. coming up, we talk saudi equities. it is the arab world's largest stock market. it will be opening its doors to foreign investors, but only slightly. more on that when we return. ♪ jonathan: good morning and welcome back. this is "on the move." this is what the equity market looks like across europe. the ftse 100 off by 0.5%. the dax down by 124 points. 1.1% lower on the german equity benchmark. the asc down 6.6 percent. i put that into my terminal. that is the biggest two-day selloff since january this

the u.k. following the ebola outbreak, it was right that the g7 devoted significant time to try and prevent a future global pandemic. at the summit, i announced the u.k. development fund focused on breakthrough medicines and we are also leading by example by promoting greater transparency and forming our own team of medics that can deploy rapidly to tackle infection outbreaks anywhere in the world. finally, mr. speaker, there is the second year running that we met at the g7 rather than the g-8. the summed up the choice facing president putin. he can continue to wreck his countries economy and continued their isolation or he can recognize that russia's greatness does not depend on violating the territory and sovereignty of other countries. the g7 was clear about the position. diplomatic efforts will succeed in restoring u.k., t and integrity. existing sanctions must remain in place until they are fully implemented. we expect russia to stop separatist forces and use its influence to bring violen

>> to the u.k. data we're getting very encouraging signs coming through from the labor market and the earnings data in particular. the market will be very much focussing on those particular data given that that's important going forward. the bank of england is sensitive to the earnings data and several members as you have already noted are in a position whereby their decision is very finally balanced so the two hooks we think will start to move across for rating hikes over the course of the next few months we believe and if the earnings data continues to come in at this kind of pace that could be the trigger for them starting to do so so there will be a slight shift over the next few months. it may take awhile for the rest of the mpc members to move across. particularly while the growth numbers still seem to be a challenge so we may have this improving coming through if the growth is not following we could welsey a split in the mpc for some months with just two members voting for a rate hike. so our

the u.k.overeignty. britain is expected to hold a referendum over its membership in the second half of next year. south korea plans a stimulus package more than $13.5 billion and a doubt. let's bring in bloomberg's stewart banks -- what has been the reaction to this announcement? give us the details? >> i think from the market side it was a somewhat subdued reaction. there are probably a number of reasons for that. one is that the market may have already factored in its talks that the government would step in to deal with this situation. the other factor is that within that 13.5 billion, the government hasn't yet sad how much of that is new money at how much of that is repurposed from other objects. until we know the exact details of what is being proposed, it is hard to know how much this will deal with the economic impact of mers. mark: let's get more on what is moving in the market and i am joined by john bolton, the head of the global strategy team, hello john. >> there has been a change o

it is 70% coming from asia and about 8% from the u.k.message does a move like this send to european banking regulators? robert: european banking regulators are consolidating control over the banks. they just moved from national regulators to ecb regulation. they have toughened their stress test, many years after the u.s. did the same thing. they are starting to get it together on the regulatory side and banking side. of offeredll a lot to be made and jpmorgan and goldman sachs are still doing well as far as profit to be made and there are positive signs for europe down the road once this restructuring takes place. mark: we have to leave it there. kelly is the head analyst at london capital group. thank you very much. coffee thrivean anywhere? ♪ the: welcome back to bloomberg market day. i'm mark crumpton in new york. it's get to julie hyman for a check on the markets. julie: we're watching the major averages muddle along but turning a little higher for the dow and s&p. the nasdaq had been holding on to its losses. let's look at how the m

the u.k.vernment says it will sell shares to investors over the next year. this comes less than a month after david cameron's reelection and about taking boyds to the private sector. casino revenue in macau continues to plunge for another straight month. revenue dropped 37%, which believe it or not, is that are. the year-long losing streak,'s amid an economic slowdown and a government crackdown on corruption. pimco more than $18 billion. italy and russia. $110 billion in assets. and three u.s. five programs with a standoff in the senate. this is another time since the intelligence attacks that they cannot initiate these items to monitor. the senate is expected to vote on wednesday on passing the bill. and back to europe another month passes on, and this week begins with perhaps a slightly different tone. the french newspaper le monde the greek prime minister came out swinging, talking about an unreasonable solution that ignores recent democratic choice. they oh billion this month to the imf. l

. >> and the end of 2015, the u.k. putting the- restriction on bonuses.i think hsbc is among the major contributors to the nation. the u.k. government cannot just let them go that easily. what is the difference? >> they could come to one third of what they originally are paying. hong kong has its own traction. it has a simple tax system. is asia's financial hub, etc.. rishaad: tell me something. what is the good news? will he get some other things out of that? strategy statements? >> after all, as we may have all known, there is no surprise coming out of yesterday's announcement. reiterating, one major positive according to our group, is the confidence going forward. of course, hsbc has laid out a detailed plan, to have specific strategies and the development of china's operations. the operations in south east asia, all of these have high growth potential to become markets like the u.k. and the u.s.. . rishaad: let's look at the southeast asian shares. tuesday, but a federal rate rise in order to curb rate demand. indonesia led that route. as i was talkin