his appeal in the u.k. is about 25%, and noted to leave we need a separate, more mainstream campaign including people at johnson,cretary boris because swing voters want to hear from more sensible and mainstream politicians. host: as far as his confidence in theresa may -- is that a minority opinion about her ability to get this done? guest: i have great confidence in what she is doing, and most observers thinks she is doing a superb job. she was on the remaining side of the referendum -- remain side of the referendum, machines she has become -- but since she has become prime minister, she has taken to this with the zeal of a convert. host: what has been the response from the crown by the way? guest: from the queen? the queen stays out of politics. during the campaign it was said she was in favor of brexit and skeptical of the eu. host: independent line. medina, ohio. doug. hello. caller: yes, you keep saying that the united kingdom economy hasn't collapsed yet, but there has been no change in your ,elations

his appe ithe u.k. isbo 25%, and notedo ave we need a patemoreainstream campaign inclung people at jnson,ery boris because invotersant to hear from more sensible and mainstream politia. host: as far as his condee in tre may -- is that a minori opinion auter ability to get tsone? guest: i have great cfince in what she is doingand mo obseerthinkshe is doing a superb job. she was on the remaining side of the referendum --emn de of theefendum,achines sh has become -busiehe has become pmeinter, she has taken to this with the zeal of a convert. ho: wt s enhe response from the crowny e y? guest: from the qun? e een sts out ofolitic duri t campaign it was sai she was in favor of brexitnd eptical of the eu. st:ndependent lin mena, ohio. ug. hello. call: yes, u epaying that the unite kingdom economy hasn'tolpsed yetbuthe has been no an in your relationsh with the eu yet so, when that happens, there stilcould be a collapse in urcomy. aret, thk u swimming upseaonhi because the u.k. is a memr theto, anthey have thei

no power was brought back to the u.k. we are in a situation where 60% of the laws from the -- of the u.k. come from the eu, which many in the u.k. feel is undemocratic, and unaccountable to voters. host: what kind of laws -- how did it affect you in day to day life there in the united kingdom? guest: sure. it started off with being trade -- a lot of economic laws and business laws, but from the early-19 90's, it starts to include other areas including affairs, mental issues, and all sorts of policy areas. to have 60% of our laws made by a body that is much less accountable, and much less democratic than the u.k. voters,nt was, for many myself included, be on the path. host: we saw the vote passed. remind viewers how much it passed by? 52%, quiteon by narrow in some senses. to win such an historic victory effort, as an historic and now 70% of people support resin. since the referendum -- brexit. since the referendum, the economy has not collapsed, for investment is doing well, and they are happy with the decision that has

the u.k.n manchester. it happened at the manchester arena late last night as a pop --cert by arianne ariana grande was wrapping up. most of the u.k. attack since the london bombing in 2005. theresa may will chair a meeting of the emergency committee at 9:00 a.m. u.k. time. our executive editor for international governments joins me on set. the prime minister and the home secretary before that, she has experience in dealing with these incidents. what are the structures the u.k. the in place to deal with investigation and the incident itself? >> the same structures that you see in most other major countries but the key thing now for theresa may is that this is happening at an on time. this is happening in the middle of an election campaign. she needs to look like she is prime ministerial. let it look like anything related to the election. >> norwich you want to. the question now looking at the election, we might see a suspended protracted time where election is suspended given the horrific natur

so there is very clearly a threat in the u.k. i think the u.k. has developed a lot of money to counter terrorism, but there is a numbers game. and the fact of the matter is there are thousands of terror suspects in the u.k. the u.k. doesn't have the ability to track all of them. so they're constantly making an assessment who is the crocodile nearest the boat. sometimes they're going to get it wrong. and it appears as if yesterday, it was one of those people that did that. >> thank you so much for monitoring this with us and giving your expertise. ten hours now since that attack. >> that attack leaving victims and families absolutely devastated. >> i don't know how people can do this to innocent children. >> hear from witnesses and people waiting to hear from their loved ones next here on "early start." . to help provide access to clean water to women and their families in the developing world. we can be the generation remembered for ending the global water crisis once and for all. ♪ you won't see these folks they have businesses to run. they have

out of carelessness for public finances, it was across the u.k.. s&p mps, we will call the new u.k. government to increase health spending for head of population in england. it is 7% higher. >> that would decrease the health budget in england by 11 billion pounds more than inflation by 2022. it would deliver consequential funding to support additional investing in scotland. the s&p standing up for scotland now and always. there are police and fire services that have served us so well over this past week as they always do. s&p mps will demand that a tory government returns the 140 million pounds that it has so unfairly taken. the tories have so unfairly and taken with this money from our emergency services. we will continue to extend for child care. the s&p is committed to always protecting for university education. -- free university education. >> in this election we are campaigning to read still the work-study work visa. by working to ensure that our universities don't lose out on vital european funding. policies like expanding childcare, closing the gap in our schools. they can su

the u.k. that has a rate of just 19%. what are we doing here? a 40% tax rate makes no sense. looking at the individual income tax, rates have fallen around the world over the last couple of decades. in the mid-eighties the average top oecd individual rate was 64%. back then our top individual rate was 55%. we had an advantage on that for a while. we cut our individual rate in 86 but other country started cutting as well. we kept our advantage in individual income tax breaks for most of the past three decades up until 2013. the deal that in a part of the bush tax cut put our individual rates up again and are right now with state taxes is about 46%. that's above the oecd average of 44%. we are not a low income tax country anymore. we are high income tax country. this is a problem. i rates at the top end matter because they punish the most productive people in the u.s. economy. entrepreneurs and brain surgeons, venture capitalists and people like that are very responsive to tax breaks. also a lar

. -- but the whole of the u.k. it was the snp that was the first to spot and pick up on the increases in the budget. that of course led to a whole range of issues. it has been the snp making sure that scotland's voice is heard. that has been important. making sure that we don't have another tory government that will be a bigger majority and even more important. when elections matter, in terms of what has the authority to stand up and speak, if the snp ons this election, a week thursday, i take nothing for granted. if we win this election, then, again, the people of scotland will put their trust in the snp to stand up for scotland. [applause] ms. sturgeon: that is exactly what we will do. and the first part, which gives heart on this o topic, we have seen the particulars in the last two weeks. theresa may is not the iron lady as much as the queen of the -- the more, the better. [applause] james: james matthews from sky news, you talk about addressing an independence referendum. is the end of the brexit process still

the u.k..are foreign currencies. things got substantially cheaper for them. in terms of opportunities, it's the the world's prior to government's back to the late 90's. there were lots of opportunities because people didn't want to take the risk of buying things because they were scared of the political environment. we are seeing businesses out there which found the businesses which people have been going to a very long time and they are scared of what's going to happen for the next four years. do they really want to take a 10-year view? they don't and therefore they are looking to sell and they want to do so quietly. i don't want a lot of publicity. [no audio] little bit down from when they were a year ago. when he translated into front currencies, it's a long way down. effectively, it's like to the chinese buying london property. the u.k. is a lot cheaper. that hasn't been translated yet to the average person in the u.k.. they don't realize just how much value the u.k. has lost since the brex

u.k. stocks jesse smith lower. tom, we will u.k.talking about brexit and what impact is happening -- having on businesses in the u.k.. that is up next. manus: b&b curve reports the bank beats estimates. at 4.4%. anna: the tech giant sold fewer iphones last quarter as consumers await the next device. apple shares down. manus: waiting for yellen. traders looked for signals on what is to come from the federal reserve. mass: you are welcome to bloomberg deadly -- daybreak. i am manus cranny. anna: we're waiting for it numbers to come from a number of companies around the u.k. they reported third-quarter comparable sales up by 4%, revenue growth at 1.3% and operating margin at 7.3%. they say they are cautious on that second half of the year. we will have a few conversations about the u.k. consumer overcoming days when -- and the u.k. consumer is front and center. manus: full-year adjusted profit, of 581 million pounds, pretty much bang in line with the range. 579 beat the consensus at .6. the dividend is 6.6 pence per share if you are a

u.k. time. flagship hedge fund suffered a billion dollars in uploads as investors continued to pull money. according to a bloomberg news calculation based on the letter to investors. the letters show assets managed by the fund which lost .7% drop to $8.7 billion at the end of april. sign dealso plans to with at least 10 u.s. companies when president trump visits the kingdom this weekend. according to two people familiar, they include how he burton. jay declined comment while and schaumburg did not immediately return a male or messages seeking content. apple is announcing an update to in aaptop lineup conference wrap developers. according to people familiar with the matter, that anthony is planning three new laptops in a move that could these come position from microsoft as well as i -- to cleaning ipad sales. apple is declining to comment. that is your bloomberg business flash. matt: thanks three much. let's talk air travel and aviation. the u.s. is considering expanding a ban on laptops and air

u.k. time. back torties will go leaflet hosting and/or knocking following the silence but will wait till tomorrow to resume their national campaign. u.s. spies collected information last summer revealing that senior russian intelligence and political officials would -- were discussing how to exert influence over donald trump to his advisors according to three current and former american officials familiar. this at the conversations focused on paul manafort, inmp's campaign manager michael flynn who has been forced to stand down as the national security adviser. opec and it allies are poised to extend the production cuts for another nine months after last year's agreement failed to clear a global supply what or deliver a sustainable price recovery. russian energy minister alexander novak has set the extension could be discussed in vienna and could include an option for another three months. similar to masters accord that included the option for next or six months. global news 24 hours a day, powe

u.k. asset still very much in u.k.ll as the continues to digest the terror attack in manchester. if we look at sterling, it is recovering a little bit today after two days of losses but to get back below 130. whatever the outcome of the u.k. election, you got the median forecast for bloomberg. thank you very much for those details from a fascinating debate about the pound where heads with the election in the mix. president trump continues his foreign tour, landing in room as -- landing in rome as he prepares to sit down with the italian prime minister. it is his meeting with pope france's at the vatican that's attracting the most attention due to their major differences. kevin cirilli is on the ground for us in rome. what is the emphasis that this trip going to be? we've been watching the carefully choreographed, stage-managed president trump that we've seen of his travels so far. what are you expecting today? today's the conclusion of the first portion of the president's first international trip, focusing on religion.

and the u.k. offers at least for some countries a way of addressing that political and economic concern, that can only be a good thing. at least in my view. i think someone else has a question. the gentleman right here, and then we can take -- why don't we take both of these questions at once and then we can wrap-up after that. >> thank you. george with transnational strategy group. the question was about the development. and you just addressed this issue, the developing countries, africa, caribbean, pacific. and my question is about the gsp plus that the european union offers, a special concessionary tariff regime. in return for environmental labor, safety standards and so on. and this has been really advantageous for countries, i'm thinking of pakistan, where when it joined gplus, generalized systems, a scheme of references, as they call it in europe. privileges in 1974. its textile exports immediately jumped up by 20%. most of that predictably is to the uk. so, of course, in pakistan, they're w

but the u.k.now in the transitional place where exit discussions will kick off and we will see what happens with the economy. i wonder who is having a tougher time. -- presented with a solar powered to lip. to lip. who has the toughest job right now? david owen: mario draghi. absolutely. they can't keep supporting the eurozone. they need the euro bond, the fiscal union, nobody within the eu really wants that. but mario draghi needs it. got numbers out of the eu saying that inflation is down and growth is up. does that make his job harder? david owen: they live in a world of small numbers. the inflation issue here is core inflation. and wage inflation, not picking up. they say they will not raise the rate until they finish doing qe. in a tight space. jonathan: david owen. thank you very much. coming up next, the governor of the bank of england. mark carney and his news conference. this is bloomberg. ♪ jonathan: from new york city and our viewers worldwide, the bank of england news conference is com

u.k.aking records. is the relationship between the data and markets? we will assess that with larry. yesterday was the big story. oil that momentum. goldman sachs says what opec is doing could trickle down to the actual producer, oil. producers that can have an impact at country level. if they do go for the first quarter, you will get back to five-year averages. anna: we will get into that conversation later. we will show you the strong levels on the eu market and where we are expected to go. we get inflation data out of germany. ft's go to bloomberg irst. >> china has increased its holdings of u.s. treasuries in the month in three years. they raise the ownership of u.s. government bonds by $27.9 billion to $1.09 trillion in march. it is a sign it is stabilizing and capital control stems capital plunges. lawmakers are deciding how to move ahead with forming a multiparty government after coalition talks collapsed late yesterday over disagreements on immigration. the breakdown of the negotia

it was a listed company in the u.k.hey sold down some of their stake. >> this is a really important point to make. this fund is not just buying small companies. it will be buying large companies as well. they are not interested in just taking a small stake in a public company. they want to take strategic stakes with other companies. it is a conglomerate and they have a big vision of where they want to take the company they are investing in. caroline: i want to switch gears. we have to move from opportunities to invest to sad facts that happened in the united kingdom. we started off the week with the terrorist attack in manchester. and if you to take on a technology angle as the week has progressed. the united kingdom seems to be wanting to crack down on encryption. it seems deja vu to san bernardino. can you remind us? >> there was a terror attack in southern california, san bernardino. it was found out later the terrorists used iphones to communicate with each other. there was a big battle in the united states over whe

the u.k.the opposition parties pre-election pledges have been leaked. they include plans to re-nationalize the postal service and rails and scrap tuition fees. a labour spokesperson said they do not comment on lakes area the manifesto will be finalized at a meeting of the officials thursday. the bank of england is likely to revise higher it's inflation outlook when it delivers its monetary policy review. the market will be watching for whether more than one voting member of the -- will call for a rate increase. we will bring full coverage at 12:00 p.m. london time followed by governor mark carney's press conference. south korea's newly elected president said the missile shield issue can be resolved if north korea does not provoke the country. but has asked china's president for treasure and engagement over the situation with the north. the u.s. man out a laptop ban on --opean flights this week. may announce a laptop ban on european flights this week. german business magazine said there is anno

the u.k.'s -- who says germany is that the u.k.'s side. the eu vows to work with the u.k. to fight terrorism and france's economy minister says we will fight and win against terrorism. we will continue to monitor the latest events. francine: thank you, mark. we are getting data out of the euro area. , instead ofg to 57 56.5. to 56.2, instead of the forecasted 56.4. servicesonger, where for a little lower. we also have a fallen german business confidence. it follows germany's busy factories bringing growth in five years. at the picture overall, germany is pretty strong and the euro area is holding steady with manufacturing a little better than expected. the euro-dollar, 1.1255. this is the chart of the day. a lot of this has to do with the underlying strength from the german economy, but a lot will have to do with price and negotiations, which is why we have a nice little resistance level of 1.1450. let's get straight to the bloomberg first word news. reporter: president trump reportedly asked

living in the u.k. bitterould lead to some pills for investors to swallow. measuring president trump's impact on the u.s. dollar, we ,ill speak with komal sri-kumar who is calling for a rebound in the greenback over the medium-term. we will have a look at european equities but, -- european equities, about 30 minutes away. germany,ecord high in record high for the ftse 100 in london. the european gauge, the stoxx 600 is little change. -- is little changed. the second column, bonds, commodities, cds's, crude rallying 2.5%. opec, non-, will they extend their production cuts in saudi arabia? russia says the answer to that is yes. atlanta is bidding to buy spanish -- a spanish competitor. 63.4 billion euro offer that would create the biggest operator of toll roads. the italian infrastructure company offering 16.5 euros per share for 100%. that is .3% higher than the closing price in madrid on friday. the big move came a month ago, when this deal was leaked or news surrounding the deal came out. atlanta seeki

the u.k. furious at american officials for leaking intelligence to the media, the so-called special relationship faces its greatest test in years. cuts leave theec market guessing about a long-term strategy. good morning. this is "bloomberg surveillance ." coming up later on the program, how would brexit be different if the u.k.'s labour party won this election? we speak to the shadow home secretary, diane abbott, at 9:30 london time. let's check on your markets. i want to start with crude. a slump weighing on energy shares as global equity markets seem to the heading for a lower finish. crude below $50. it is a little bit higher than it was a couple minutes ago. however, there's a lot of speculation on whether opec stuck to the most predictable outcome in its plans, and what that means for the future. the onshore yuan heading for its strongest weekly gain against the dollar in four months and pound falling as polls show theresa may may be losing ground. let's get straight to the bloomberg fir

u.k. time.escribedtrump has the former fbi director as a grandstand are, and says he would have fired him no matter the recommendation from the attorney journal -- general. that the fbinbc has been in turmoil for months, and comey was not the right person to help it recovered. >> i was going to fire comey. my decision. >> you had made the decision? >> i was going to fire him. saudi arabia is ready to solidify ties with president trump by committing to investments in the u.s. they plan to spend as much as $40 billion on infrastructure, announced when president trump visit saudi arabia -- visits saudi arabia. global news, 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg. it is toward the end of trade here in asia, and you are seeing markets come off that recent rally. the stronger yen a weighing in on the nikkei, up by 0.6%. don't forget the summit begins on sunday. there could be some of the national team get

s is the big investment in the u.k.. in if you are the americans to be most likely a british company and one of the things i am now pushing forr is the u.s. trade deal soit they are both quite wealthy countries and that is on the top of the agenda. >> there has always been a special relationship what about that relationship now with the trump administration?.mi >> from when the election have been they did not go along with your of the european government but 37 day can amount to the prime minister to the foreign secretary but indeed as the first foreign head of government. >>host: democratic line. >> caller: c-span this is a great program. howard you feel about scotland breaking away? ru as enthusiastic about that? i mean the u.k.. >> i'm not.i' the you are right to bring this up to be voted by those majorities in the firstty minister of scotland. up by the second referendum in the issue with this is a few but when it comes to the general election the scottish nationalism. >> as far as other countries p a interested in d

>> it's been a terrible time here in the u.k. 22 dead. the number may still rise, and there are five children under the age of 16 critical in hospital, and it's not known whether they will make it or not. as much as things are starting to get back to normal, as much as we started again on the political campaign for theee recollection, there are still terrible stories to be told. we are also here in the u.k. about to go into half-term break. i have got lots of emails from people wondering should they go to this concert. should they go on holiday. someone coming out to london for a week wind their children has just canceled their trip. this fear is all pervasive. judge jeanine: you are known as a conservative writer, and you had your own radio show from 10:00 to 12 every sunday, very popular fan reports are you no longer have that show. can you tell us why? >> i can have no comment. it's been agreed. i can have no comment on my leaving my radio show. but if we were to generalize and talk about what we see happening, after any attack like th

the u.k.. while time is short to reach a brexit agreement, the bloc is prepared for all eventualities. also coming up for you in the program, apple sees a surprise drop in iphone sales, but its cash reserves swell up to over 250 billion euros. we will explain what that all means in our business update. beat, aoday's campaign look back at the heated debates that help change the course of previous presidential elections here in france. with you for the next 60 minutes, this is live from paris. ♪ host: the stage is set here in france for this wednesday evening's final presidential debate. emmanuel macron will go head-to-head with the far right marine le pen with the just four days to go before polling stations once again open their doors for the second round runoff. marine le pen will be attacking saysn's program while she he will fight her ideas that represent false solutions to the country's problems. reporter: this is the stage for the final face-off. no detail has been left to chance as these

months to go to the u.k.eneral election, wooesa may has set out to using a rare joint interview with her husband to show her softer side. her main rival launched the labor parties program for government with a tirade against "greedy bankers and hartline bosses ripping off workers." donald trump has approved arming kurdish forces in syria in the fight. the self-declared capital of the united -- islamic state. strong objections from turkey which remains the kurdish fighters are linked to militants in their country. prices roseucer more slowly than expected in april, adding to signs of a potential easing of global reflation. the price index rose to 6.4%, below economists estimates. prices in consumer china rose 1.2 percent in april, slightly more than expected. the bank of england probably won't make any policy moves before brexit negotiations are concluded. that is according to the national institute of economic and social research and ahead of the boe's policy meeting isorrow and a rate change expected been. e

the u.k., is this kite it's not lighthearted. x a lot of people seem to be going for the conservatives, anything is too much. also the u.k. voters who are tending toward the conservatives, we started with about 50 billion and the u.k. came out with 100 billion. were not going to get a deal on trade, which brexit will live or die by it still on trade. we won't get a deal until the bill is settled. manus: this is where there is a divorce. we look at this yesterday. what changes the narrative, does the super majority shift the dial above 130? >> yes it does. we could get as high as 133-134. the markets love of mandate in a government that's able to go out there and do exactly what it wants to do. anna: on the domestic front, perhaps. >> you go to brussels and if they say were all here because we have a majority, that's a politic works. she gets home without much of a deal. anna: we will continue in just a moment. manus: if you're a bloomberg customer, you can watch the show on tv . you can en

we are also here in the u.k. about to go into half-term break. i have got lots of emails from people wondering should they go to this concert. should they go on holiday. someone coming out to london for a week wind their children has just canceled their trip. this fear is all pervasive. judge jeanine: you are known as a conservative writer, and you had your own radio show from 10:00 to 12 every sunday, very popular fan reports are you no longer have that show. can you tell us why? >> i can have no comment. it's been agreed. i can have no comment on my leaving my radio show. but if we were to generalize and talk about what we see happening, after any attack like this, there is huge anger and outrage. there is scene overwhelming feeling of anger. people don't know where to put that anger. the liberal left never quite look at themselves and wonder if they are part of the problem. they will load their anger on to someone else. i think there is a silencing that goes on on the right. i wouldn't speak of my own case in particular. but in general we see

manus: verily result in u.k.ctions show the conservative party is on course for a big victory in june's general election. anna: the obamacare repeal and replace bill passes in the u.s. house by a slim margin. hospital stocks rebound and several republican senators say they will write their own version. ♪ manus: welcome. it's "daybreak europe," your flagship morning show. anna: we are going to get to some breaking news in just a moment. first, some pictures coming from china. shanghai's international airport, this is the first inght of the c919, a new era the aviation business potentially, as china tries to muscle in on the business that has been airbus and boeing until now. manus: boeing predicts china is going to need 6800 aircraft, the ticket value $1 trillion, by 2025. you get about 158 to 174 seats. anna: a lot of global western suppliers supplying parts for this plane. live pictures of the first flight of the c919. that is the breaking news this morning. on the aviation space, we've got international airline

the u.k. might pull out of brexit negotiations, the fact that the conservatives lead in the election is narrowing slightly. it's not likely to effect much in the short-term. conservatives are still expected to win a large majority. as pre-brexit negotiations, we can expect the hardline effort to continue, and we won't get a much clearer idea on the agreement. what's happened is the short positioning that was there earlier in the year has been partially squeezed out. the markets are a little bit cleaner, and looking at the macro fundamentals, u.k. has a very negative real yield, a large current account deficit, and not brilliant growth. so it's a bit of a negative story long-term and people are starting to sell it again. guy: mark, what do you make of what's happening with the euro at the moment? the dollar is everybody's consensus sale right now, and you can see that in every conversation that we have, but what we are also getting is the euro is moving in advance quite significantly of the bun

the u.k.'s a speedy brexit deal have been dealt a blow this morning. case has been widely seen as setting a precedent for britain. china has increased the holdings of u.s. treasuries by the most in two years, a sign that the world's second-biggest economy is stabilizing and stricter capital controls have heplped extend capital flight. bob iger says hackers have stolen a disney film and are threatening to release it online if they do not deliver a read some. the company has declined to do so. 200,000 computers were infected with so-called ransomware. the opposition labor party will vote on a radical and responsible program ahead of the general election. jeremy corbyn will accuse theresa may of favoring the rich over those in need in a speech. he will also little plans to reverse the priority for government and put the preservation of jobs first as britain leaves the european union. global news 24 hours a day, powered by 2600 journalists and analysts in more than 120 countries around the world.

the u.k.more about non-populism in the case of theresa may. -- andar, italy has election in may and 50% of the vote is concentrated in the wing extremist pipe was parties. vonnie: that's populist parties. -- populist parties. sterling will in the year 120 and the bloomberg consensus, is 126 at the end of the year. they are saying that whatever happens, the u.k. is set for a damaging brexit process. that is why sterling will end the year at 120. have we see me games posed theresa may calling the election -- posed theresa may calling the elections, do you agree? >> we disagree, we are marginally positive on the pound. we felt it was undervalued previously. it gives you some idea of what was being priced in. we look at on a probability basis and look at different scenarios and we get a number marginally above 130. a chance for a harder brexit but we recognize that is not in the interest of europe and the u.k. taught for a new partnership with the u.k., prior to him becoming president. we believe

u.k. would be prepared to walk away even before the negotiations begin if this bill keeps being talked about around 100 billion pounds. anna: let's keep an eye on that, on the wake of that. european ministers gathering in brussels to discuss the brexit negotiations -- let's get the first word news with juliette saly. juliette: anna, thank you. in saudi arabia, u.s. president donald trump has told arab leaders that the war on terrorism isn't a fight between different faiths. he also called on middle east allies not to wait for the u.s., and to ensure terrorists are offered no sexually. it was an attempt to ease concerns and the trump administration discrimination against islam in the wake of an attempt to ban people from muslim majority countries from entering the u.s. >> when young muslim men and women should have the chance to build a new era of prosperity for themselves, it has to be done, and we have to let them do it. summit,'s help this will mark the beginning of the end for those who

u.k. time.e heard from you cap that they are -- from ukip that they are suspending their campaign. matt: the next story is president trump's troubles at home. he asked the director of national intelligence and nsa director in march to deny publicly any evidence of collusion between his campaign and the russian government, this according to "the washington post," which cited people that weren't identified. both men refused to comply, deeming it inappropriate. anna: finally, we focus on the budget plan. to cut $3.6 trillion over 10 years by shrinking the safety net for many of the poorest in the united states, recent college graduates, and farmers. now, where brussels we are focusing in on what has been happening with regard to greek negotiations. after nearly eight hours of talks in brussels, euro area finance ministers failed to reach a deal on greek debt relief. this. the completion of the country's bailout review, and delay payments of fresh loans at athens needs to meet its obligations in jul

coming up here, inflation in the u.k..hat it means for central bank policies on both sides of the pond. this is bloomberg. ♪ vonnie: live from bloomberg world headquarters in new york, i'm vonnie quinn. mark: i'm mark artan. about 40 minutes time, euro area inflation forecast today to the lowest level, the report heading -- mario draghi pests calls to continue stimulus. >> for domestic rice pressures to strengthen, we still need a comet financial conditions which are themselves dependent on a fairly substantial amount of monetary accommodation. >> joining us now in both the eurozone in the u.s. come bloomberg intelligence chief euro area economist david at bloomberg news international economics and policy correspondent. you, this start with is a chance of the euro area headline, 1.4.9. how does that play into the ecb meeting? >> largely going to ward -- toward the decline of the headline, that was largely due to oil prices. wheny, oil prices fell and europeans went down holiday for haver, in april, airfares fallen back. is

the u.k. general election campaign takes shape, the opposing parties are taking increasingly barbed swiped at one another. the conservatives will warn working-class voters that the labour party has deserted them. jeremy corbyn will launch an attack on theresa may's foreign-policy. the liberal democrat leader has called for a change. have determined -- the tone of this election must change. it is time we gave the people of wales, the whole of united kingdom some hope. that britain must now struggle under the yoke of a one-party state led by theresa may? just staley has responded to emails from an imposter pretending to be the chairman. according to the financial times, it criticize the barclays shareholder who had had saw to oust staley. the ceo responded with praise for macfarland comparing his fearlessness on the guitar to that of eric clapton. global news 24 hours a day powered by 2600 journalists in 120 countries. this is bloomberg. tom: the badge of email shame. do you like the cream allus

concert so, at the time, say the u.k.sumer business might be weak, the investment banking business in the united states might be strong. at the time the investment perhapsbusinesses weak, the credit card business in germany or the payments business might be strong. he makes this argument for having a universal bank for the reasons you hear from other people -- the diversification lends itself to stability. whereas if you're just a single silo player, you are subject to more of the cyclical vagaries and volatility you get in a civil business. guy: but the regulatory stuff is a little different. erik: the u.k. regulators have addressed that with the ring fencing. that is different than the united states. that would be a forcible separation of wholesale banking from retail banking. very different. staley is hugely supportive of the ring fencing option not because he loves it but because it is, yes, because it makes the banking system saver, but because in his mind, it is a better alternative to what they are talking about do

we also added into the mix the u.k. economy. gdp by keyof u.k.tors, but it also makes the point that we are seeing a number in terms of gdp coming down and missing expectations a little bit. is this a worry for you? >> it is. the growth is less than 1% worry rate this is a big and we have seen consisting growth to. experts -- exports not intervening to it. the u.k. economy would rebound toward exports and imports institutions. q1 numbers say it hasn't happened. slightly better news is that investments have held up slightly better than expected in terms of brexit security not having too much effort an adverse affect. it's probably more to come. we all know inflation has risen. it slightly to the european conversation because for whatever dissipation there might be in the u.k., there's a spread between the u.k. and mainland european economy. this is perhaps what has ecbldened everybody, the and politicians. france is just under double-digit on employment, but do you get a sense that we are going to have a latitude on fiscal policies and european gr

u.k. and the conservative party. and, today's nonfarm payroll figure, a rosy picture of the u.s. economy? good morning. welcome to "bloomberg surveillance." i'm francine lacqua in paris. we have full coverage of the french presidential election. mark barton is in london. i'm looking forward to the conversation with andreas dombret. you have our market check, mark. mark: i do. check out what's happening to european stocks. big day ahead. the jobs report in the u.s., the french election on sunday. let's have a look at the ftse. let's have a look at the european benchmark, even better. highest level since august 2015 yesterday. the big move seems to be continuing in the commodities market. the u.s. 10-year is unchanged. money moving into the yen. it is a risk-averse day today. oil, lowest level since the backend of last year. the movement down and commodities. -- down in commodities continues. let's get the latest bloomberg first word news. here's nejra cehic. nejra: in the u.s., house republ

the u.k.government has offloaded its last remaining shares in lloyds banking group according to people familiar with the matter. the treasury sold the remainder of its original investment, less than .25% in the bank yesterday. it brings britain's biggest mortgage lender back into full a decadewnership after after it was bailed out in the depth of the financial crisis. a growing., still, number of unoccupied properties in london is providing a headache for landlords removed into modern offices by companies has caused the overall office atancy rate to climb to 5.8% the end of the first quarter. according to data, that is the biggest increase since 2009. management hedge fund suffered $1 billion in outflows in april as investors continue to pull money, according to a basederg news calculation on the letters to investors. the letters show assets managed by brendan howards fund dropped to a $.7 billion at the end of april. global news 24 hours a day, powered by more than 2600 journalists and analys

there was no data a year ago on what the ratio was in the u.k. industry.l was to do the study and understand what gender looks like in the u.k. that has given us a more clear picture and a clear target as well. we have a 20% target of senior women in investment rules i 2020 -- by 2020. diversity vc, we have four different areas we are investing in. it is about attracting more women into the industry, about retaining and promoting women already in the industry so they can get up to senior roles, it is about accessing a broader system to promote diverse entrepreneurship, and continuing to collect data like this. into on beyond the u.k. europe, and beyond gender, like race, ethnicity, and industry background. caroline: as a female at downing ventures, how do you think can be accessed, such as yourself? practicescticing -- that can be used? things that's going out and talking about what venture capitalism is as a career. a lot of young people really know it exists. how to meetknow people in industry and develop the first connections to set up that interview. a

u.k. we've talked about all sorts of things today, much of which you would expect. iran, theations with dprk, north korea, the vital importance of the work we do together across such a range of fields. including intelligence, sharing, and around the world you will find the u.s. and the u.k. facing the same problems together, and defending our ideals together. we defend democracy and the rule of law. our values and our freedoms. not just because they are hours, but because they are universal. unite world community can in the way the people of manchester have come together and united, i think together we can prevail and we will prevail. rex, your visit is an important sign of the closeness and harmony of our cooperation. thank you very much for coming. sec. tillerson: thank you, boris. i am here today in great britain on behalf of the american people. i can tell you all across america hearts are broken. they are broken at the very thought of the loss of life of loved ones, the injured, the a

the u.k. and libya. the u.k. terror alert remains at its highest level. donald trump expected to present nato leaders with a big bill. the u.s. president is in brussels on the latest leg of his world tour and said it's time for european allies to start paying their fair share of defense. and taiwan becomes a first country in asia to recognize same-sex marriage. laura: first, british police say they are investigating a network of terrorists halloween monday suicide bombing at the manchester arena. five people have been arrested in the u.k., including the brother of alleged suicide bomber salman abedi. a third brother has been thested in libya along with bombers father. authorities say the brother was aware of the plot to attack the pop concert on monday night. the u.k. terror threat level is at its highest and thousands of troops have been the board across the country. for the latest let's go to manchester and are correspondent duncan is there. the investigation very much ongoing with release s

u.k.'s prime minister has vowed she will not be pushed around as her war of words escalates before negotiations began. theresa may said it jean-claude juncker is learning she can be "bloody difficult" after leaked details of a dinner meeting was shocked by your approach negotiating brexit . >> she said today she that she will be a really bloody woman in negotiating with the european union. and i must say i fear for this. nejra: jpmorgan plans to move hundreds of london-based ireland and luxembourg. as a prepares for the u.k. to lose access to the single market. eofore the referendum, the c warned u.k. employees that as many as 4000 could be relocated in the event of brexit. global news 20 browser day powered by 2600 journalists in 120 countries. -- global news 24 hours a day. francine: we get the fed's latest rate decision at 7 p.m. u.k. time. investors will be watching the wording of the statement for any clues as to the rate pop ahead. let's bring in jeremy stretch at canadian imperial ba

u.k. antiterrorism officers are meeting. 19 people were killed in an inflation at a music concert in manchester. monitoring the headlines and we can see there is expected to be a press conference happening imminently. what is the latest? steve: we will be monitoring those headlines that are likely to come from the greater manchester police as they reveal the latest details. here is what we know. greater manchester police are treating this as a terrorists incident until they know otherwise. you are right to say that as of the most recent twitter feed from the police department, 19 people have been confirmed killed. 50 others have been injured. ofphen: there was a report an explosion as concertgoers at this area the -- this arrieta grande a concert. say they heard a loud explosion, expected to be a bomb as authorities are treating this as a possible terrorist incident. it happened at 10:35 p.m. monday night in the u.k., so 3.5 hours ago is when police were called, so witnesses say they were

u.k. still owns roughly 70% of rbs. it will probably make a loss on that stake when it is eventually divested. commissions missing estimates. the dutch letter first quarter profit did rise. it cut rates for deposits. on matters of european stock major, i thought we would look at 40 options. a number of outstanding options on the cac 40 has increased, region is near seven-year peak -- reaching its near seven-year peak. before parliamentary elections next month. -- the four parliamentary elections next month. vonnie: president donald trump facing the biggest prices on his presidency after a memo written by the then fbi director james comey alleges that trump asked comey to drop an investigation into why the plan. -- into michael flynn. confirmedts have been by bloomberg news and other news organizations although the memo is out has yet -- itself has really.e from the white house, we have market. -- margaret. house democrats looking to push a vote and asking for independent commission. where

that's the kind of the fate the u.k. has been happening. the u.k. has not suffered a serious mass casualty terrorist attack in quite some years now, not since 2005. certainly, it's out the form of the people's minds. as i mentioned, there has been a series of terrorist arrest and abilities have been made to at the size of the hip disrupted many plots in the past. they said doing so-so far. >> kelly: so many people are weighing in on this issue right now around the world as as we e all of this fold. keep us up-to-date if anything breaks between now and then. please get back to us. arthel. >> arthel: kelly, the tragedy after that deadly explosion added ariana grande concert, as we know now, at least 19 people are dead and it doesn't injures. at the last count we had was 53 but that will of course change as the evening and morning rolls on. joining us now as judy. she is a form right "new york times" reporter and fellow at the manhattan institute. he is a former member of the fbi, 2 hectares of joint task force. steve, i want to start with you. what ar