business --ur u.k.utious on outlook for credit given the lack of certainty on the direction of the u.k. economy. hit: production outages bhp's first half results. the market isn't swayed by surging iron ore prices. the stock falls in london. jean-claude juncker expresses his frustration over brexit talks as the u.k. tries to negotiate the irish backstop. good morning and welcome to "bloomberg markets: the european open." bloomberg'sards at european headquarters in london. 6:30 in london and this is the picture across the equity market. we are pretty divided on whether to go up or down, the stoxx 600 going higher or lower. wirecard come a big gainer. regulators taking action against short-sellers, up 7.8% this morning. we've seen some aviation and travel leisure stocks well divided. cement had some numbers out, that stock up for percent this morning. intercontinental up 2%. an aviation supplier settled on matters and that stock is up over 2%. to the downside, travel and leisure stocks down on the stoxx 6

can you stee the u.k.r hour has fallen year-on-year in the fourth quarter. 14,200 that is 2.8 work force and that december unemployment number -- i'm happy to say we're joined by memorandum any baker you expected disappointing employment numbers -- >> what happened to full-time employment thaegts a really good gauge of what's happening to job growth, underlying job growth. if it's not this month, next month, the month after, you would expect to see perhaps a bit of caution coming in to firms hire iing. you would expect to see a little bit of loss of momentum coming through. >> yet, we're seeing those wage growth numbers matching that ten-year high. we're not far from march 29th. how do you interpret that? >>. >> the unemployment rate at 4%, that's a really low number for the u.k. everything from what you have told me suggestions that it still looks tight. it's not surprising we're seeing higher wage growth, and you are right. the real earnings number is good news it's good underlying news for the consumer

u.k. citizen the c.e.o. of strong mark hillary forward hillary welcome back to me about thank you so let's start with the overall health of the u.k. retail sector we've talked about. retail we've talked about u.s. retail but now we specifically want to focus on you to u.k. retail the office of the national just six so i one percent increase in january of twenty ninety considering the brics do you see this as positive news yes i actually do bob and at least it's not what all the fear tactics predicted it to be and none of the dial predictions that had been offered about a year ago two years ago i think was important to look to in terms of the long term predictions too in addition to retail sales being up about four percent we could also look at unemployment which is the lowest it's been four percent is the lowest it's been since one thousand nine hundred eighty five in the u.k. and also k p m g has come out with its newest global technology study saying that the u.k. is amongst the top three in terms of innov

u.k. tries to renegotiate the irish backstop. hit first half but concern over oil prices. .sbc takes a hit the chief executive rounds off his first year with -- with worse than expected results. is cfo tells bloomberg he more concerned about the u.k. then china. >> we are hoping to grow our u.k. business. we are cautious on the outlook for credit given the lack of certainty on the direction of the uk's economy. francine: welcome to "bloomberg surveillance." i'm francine lacqua in london. we are seeing optimism, at least we did in asia. that is petering out on the stoxx 600 in europe. pretty much flat. for news are waiting on possible tariffs on automakers and the u.s.-china trade rift. had aooking at yen, we couple of lines from governor kuroda in japan. 1.2924 as pound up theresa may goes to the eu. we hear mr. jean-claude juncker saying brexit is in god's plan's. terminalstory on the yesterday saying the eu is willing to give clarification, but for the moment, they will not renegotiate o

where we are seeing credit softness is in the u.k., and the u.k.the market i am more concerned about at the moment than hong kong or china. manus: you have capital to deploy in the u.k. i am told you are aggressively trying to grow market share. is that proving hard in the current environment? , the team did a great job there last year, revenues were up 7% in the u.k., mortgage growth at 10%, another 50 basis points of market share in the mortgage market. we have the share we want to take at the moment, and are able to grow u.k. business. i think we are cautious on the outlook for credit given the lack of certainty on the direction of the u.k. economy. manus: ewan, what have you and the board discussed regarding brexit in your boardroom? assume we haved been working on this for years now. we have the big operation in france that we have had for a long time. it is easier than some of our peers. today'sd have seen results that we have taken additional provision for the uncertain economic outlook in the u.k. hsbc cfo, ewan stevenson, speaking to me on

apparently the u.k.rime minister met with jean called juncker -- met with jean-claude juncker saying both sides are holding constructive discussions. facing objections over the irish backstop. may said she is seeking quote legally binding changes. >> it is really about the irish backstop. we know that one of the ideas they have floated around is that before the final deal gets put to a vote they would like to see if the u.k. parliament what -- would accept those tweaks. the one thing the eu hates and wants to avoid is a situation where something gets rejected by u.k. parliament and then you get prime minister may back in town asking for more concessions. that is the one thing the europeans will tell you they do not want to do. >> they did shed some light on the dovish light. officials widely favored ending the runoff up their balance sheet this year. they expressed uncertainty over whether they would raise rates again this year. what was the number one take a way you from these meeting minutes? >> the mo

well martin by it's the few u.k. journalists more experienced in the ways of the the brussels politicking than yourself with what's like twenty years you've been analyzing and reporting from from this capital that you were think when when you started off as a european correspondent for the thought i had the of newspapers the that is to get the position where you are commenting on this all process of the u.k. withdrawing from the european union altogether well i came from a background of working on mostly regional papers in the u.k. it's interesting how the some of the distinction between the way the e.u. is reported maybe to regional level in local press in the u.k. and national level where there's a really huge difference the regionals in the u.k. they take him i think data on published will do a generally sympathetic approach concentrate on what the european union was doing for their region as opposed to the way the geopolitics is exactly that's that's a great way of describing i think so i came from that regional

u.k. prime minister theresa may and president jean claude junker agree to further brexit talks and vow to find a way forward with less than 50 days to go. >> we have agreed that talks will now start to find a way through this, to find a way to get this over the line, and to deliver on the concerns that parliament has skbro thaep friday welcome to "street signs." actually, u.s. indexes posted its worst day in two weeks, and that's after news that president trump will not be meeting where his chinese counter part ahead of that march 1st deadline for trade talks. that weighed on sentiment yesterday as we headed towards the closing u.s. equities. continued into asian equities. negative sentiment too noek neek had its worst session in a couple of week as well. it's not just about the meeting or the meeting that's not going to be happening. also, global growth concerns are weighing as well let's not forget in europe the europe even commission yesterday released their forecast for the year big do

the un's high school has demanded the u.k. and see its control of the chad go silence as rapidly as possible and return the territory to militias.

the u.k. labour party are they will sit as independents. >> in all conscience, we can no longer knock on doors and support a government led by jeremy corbyn. >> could this be a beginning of the split of the labour party? huge amounts of unhappiness with jeremy corbyn's leadership, not only on brexit, it is a range of issues. you heard them all talking, around things like relationships with nato, response to the russia situation, syria, all things they disagreed with. they are calling not just the labour party but across the political spectrum. you would imagine more of the anti-brexit wing of the conservative already. time will tell whether it is a small event or something take -- something bigger. >> carmakers bracing for auto tariffs from president trump after they are delivering a report on whether the u.s. should classify that as a threat to the security. what do we know? >> we don't know much. the commerce department told us in a three line statement the report was in and didn't say anyth

bus according to motor sport u.k. chairman david richards transport in and out of the country between european rounds will be a major headache with the start of the season on march seventeenth breaks it just twelve days later could put formula one into a tight corner. quick reminder now the top stories we're following for you here and a deputy u.s. president donald trump and north korean leader kim jong un have begun their summit in the vietnamese capital one noise in their two day meeting the two leaders are said to try and seek a path to peace on the korean peninsula and the pakistani army has tweeted that it shot down two indian warplanes after they crossed into pakistani airspace and captured one of the pilots this latest crisis between the nuclear arms neighbors comes after pakistan based militants killed dozens of indian security personnel in the disputed territory of kashmir. watching the news live from berlin i'm sara kelly up next d.w. news asia and don't forget you can always get all the latest news and info

or to work in the u.k. having second thoughts so it's that has been that is that meaningful that people who are perhaps going to visit or to study or of the world will say well we'll see how things are going to tell no absolutely and i'm speaking also from my own children here they're coming to the book the view that they should be looking for their future in europe rather than the u.k. for their careers and future studies and you yourself when you've been a long time resident of brussels but you've just very recently taken to build themselves and ship as a direct response to the brakes that referendum in the u.k. . that's right i've lived in belgium for about thirty years so i've been paying my taxes here for a while but the trigger to take version of citizenship was this referendum in june two thousand and sixteen because that was i saw that i was going against everything that i had to change in my career by having the ability to move freely or. and europe set up my business where i wanted i saw the offic

. >> the push and pull the 20 u.k. and the eu before brexit. >> the warning of a legally binding document. >> there is not enough time to complete the legislation needed to have that orderly exit on march 29. >> investors play close attention as central banks publish minutes of their latest meeting. >> we know the balance sheet unwind is going to stop. >> it sounds like the minutes were less dovish. withbig week for earnings corporate leaders looking at the micro and macro picture. >> the economy and credit is in good shape. >> we are seeing -- we are not seeing a slowdown in china. >> south africa lays out a new budget. and samsungbig fine releases a groundbreaking phone. >> from a technological development standpoint it is a big step in the right direction. >> that is all straight ahead on bloomberg best. ♪ emma: your weekly review of the most important business news analysis and interviews from bloomberg television around the world. let's start with a day by day look at the top headlines. tensions between parties in

the u.k.n the e.u. on brexit. >> the wording of a legally binding document. >> there is not enough time to complete all the legislation needed to have that orderly exit on march 29. >> investors blake -- paying close attention to. >> we know the balance sheet unwind will stop. >> these minutes of were a little dovish. >> a big week of earnings with corporate, the macro picture. >> the economy is room -- reasonably good shape. >> we are not seeing a slowdown in china. -- ubs facing a fine and samsung releasing a groundbreaking phone. >> from the technological development stand point it is the step in the right direction. >> all ahead on bloomberg best. >> hello and welcome i am emma is bloomberg best, your weekly review of the most important business news, analysis and interviews from bloomberg television around the world. let's start with the day by day look at the top headlines. tensions between parties in the u.k. parliament steadily rising as the deadline for britain to leave the e.u. appro

the u.k. government apparently is not interested in how much destruction is actually being of either by a british workman really given to saudi arabia from the british point of view early ninety's even condone the independent on whether their weaponry is responsible for the bombings for the killing in yemen they were lying strictly on the facts and data provided to them by the current saudi arabian government the british government must realise this for the united states go. mama been farming and war and here is not going to stop until both governments or weapons to this. to fifty of them all in this monday thanks for watching around the world who days going good so far ahead after the break among the stories we're covering the u.s. attempting to send aid shipments to venezuela but president material is still refusing to allow it over the border its story is bubbling away more across it next . so what we've got to do is identify the threats that we have it's crazy confrontation let it be an ar

is reported maybe a to regional level and local pressure in the u.k. and national level where there's a really huge difference the regionals in the u.k. they take him i think data on published will do a generally sympathetic approach concentrate on what the unit was doing for their region as opposed to the way the geopolitics is exactly that's that's a great way of describing i think so i came from that regional newspaper background i had a certain uncertainty about the e.u. the biggest one was a circle of ignorance really mom my own me my own part about how the e.u. works what it's about what it does those and the sort of communications machinery now has which is absolutely massive i do think that was fairly common of how the european union was supported of in europe thinks of the constant references to the brussels bureaucracy and fight the brussels bureaucracy numerically what it was less than the scottish government's bureaucracy and how the numbers that's one example could be lots of others the i used to work in in birmingham for twelve years wher

time after time here we're going underground is a battle u.k. pm drazen may returns from bricks and talks in egypt coming up on the show is britain at risk of an imminent terror attack we speak to the president of syria's media adviser dr patricia bonn about drazen made decision to resettle white helmets in the u.k. and as britain confirms there will be no postgraduate trade deal with turkey or japan and we speak to a foreign trade minister who did successfully sign a deal in time for the twenty ninth of my vote is a ball coming up in today's going underground but first forget last night's also because has britain been acting better than any hollywood star acting in a way that will damage post directed trade deals acting like it owns land to rent to the usa for torture and mass killing diego garcia lives seven degrees south of the equator in the middle of the indian ocean with all of the surrounding ocean species the local m.-w. are has plenty of opportunities for sailors to enjoy the footprint of freedom well today the world court gives its vie

for reports on u.k. malnutrition is the enemy actually venezuela because she has deployed a military boat within fifty miles of the latin american country a mile off shore looming on the horizon the joint shape of royal fleet talk scenery ship mounts those pictures are from when the british military boat was defacto threatening syria after being. dogged in what some cypriots believe is occupied akrotiri but as preparations were being made by the e.u. and washington to resell lector venezuela's president the boat was working with u.s. southern command which would surely be part of any don't trump military intervention in venezuela it's certainly being advertised by the royal navy as militarily capable it's what's below deck that makes these bay class ships unique a large wet dock in cavernous vehicle deck mean troops and equipment can be loaded on to landing craft even in rough weather and did half the time of their predecessors this as british marines specializing in close combat from forty commando infa

u.k. time, a preliminary readout of u.k. gdp for the fourth quarter. for any data that could add to the boe's headache. and the brexit secretary makes the eu brexit negotiator in brussels for talks. your group finance are looking the ecbone to replace was -- to take on the ecb executive board. peter dixon is still with us. last to discuss. let's start with brexit. i asked and i will ask it again, is a new deal just as likely as a deal? peter: i don't think so. i think the no deal option is the risk, and it would happen by accident. reallyon't think anybody is -- realistically wants no deal. the prime minister continues to play poker with her own party. she is putting party unity ahead of lasting interest. that certainly beats of the risk if the hardliners continue to hold their intransitive position, we could get a nasty outcome. nejra: mean what for the u.k. economy? economists predict in a 30% probability of recession in the u.k.. carney's outlook is predicated on the assumption of brexit which is a risk but all -- growthwing growing environment exte

in the u.k. parliament have been steadily rising as the deadline for britain to leave the eu approaches. withinmonday, tensions the labour party came dramatically to the surface. seven members of parliament have quit the u.k. labour party and will sit as independent over plaguing the party. >> and all conscience, we can no longer knock on doors and support a government by jeremy corbyn. wrecks could this be the beginning of an actual split? huge amounts of unhappiness for jeremy corbyn. there has been a range of issues and you have heard them talking this morning about things like our relationship with nato, the response to russia, all of things they have disagreed with. they're calling not just for labour party people, but across the spectrum to come out. you can imagine more of the anti-brexit rate -- weight of the conservative party. time will tell if this is a small event or something with your legs. carmakers around the world are bracing for potential auto tariffs after the commerce departme

concerns minds in the u.k. that it won't be able to honor its arms contracts with saudi arabia as germany refuses to lift a ban on supplying certain component parts to the gulf kingdom. keys to faking a hate crime against himself because the smell let's claim that he was assaulted by supporters had led to an outpouring of sympathy and support and anger at the president for supposedly raising tensions venezuela's opposition leader to fire ban on u.s. state is being stockpiled at mit border is promising to get a live range into the country by saturday with clashes already breaking act over the attempts. are you watching r.t. international is just gone five pm here in moscow now britain is concerned by german ban on selling arms to saudi arabia the u.k. now if it is that its main arms manufacturer be a huge systems may no longer be able to fill contracts with the saudis as it relies on components made in germany these contracts are worth a lot of money britain is the second biggest seller to saudi arabia after the

mood then is from the from from u.k. and i i do believe if you look at it another angle as i told you about that but the story of history relationship between the u.k. and and try to widen has been better before they were a member of the e.u. than out our closest neighbor and i do believe that there's a growth of the possibilities in the future for us when they are independent and can can do we arrange intervention or agreement there is help obviously our biggest trade pot there is russia what about if britain support sanctions on russia will that affect the trade you know with us and the rest of the it yourself that is the foreign policy and defense is not exactly what we're doing and it's a good reason for that the issue is at the moment we are responsible for trade and we have never. met in walled ascensions and boycotts with any country we could do what we are we have to do we living here in the middle of the atlantic and we have to sell our products and we try to to their surprise our our our brother the market also

if you look at the other fees coming in, the u.k. banks have seen very little growth, and there's a whole host of reasons. that ppi has hindered the brand, so going with the schroeders brand, you're selling non-banking products is prudent at this time >> there is an upside, right >> yeah. >> certainly >> well, one of the up side possibilities if we do get a resolution around brexit is that ultimately what that tells us is the headlines of brexit are dominating people's thoughts, and on the underlying economy, it's actually continuing to carry on growing low, but reasonably steady. if that was the case, the uncertainty was lifted, the housing market do you feel would come out an environment that's in right now consumer lending would improve as well. i think the p & l would start to improve, and the cash return potential is there from the big two domestic banks, and obviously lloyds they really are following sterling right now the up side is very clear. they're discounted shares for a tail risk. that is seemingly receding right now. fr

the u.k. . is not interested in how much destruction is actually being of either by british work and really given to saudi arabia from the british point of view they are not even conducting independent serious on where their weaponry is. for the bombings for the killing in yemen they were lying strictly on the facts and data provided to them by the current saudi arabian government british government most realize just what the united states go. maman songs war in yemen is not going to stop until both governments or weapons to this. be told the un is holding its yemen's humanitarian crisis is becoming increasingly severe hundreds of thousands of people in that water or nation and are reportedly at risk of starving to death a staggering eighty percent of the population are in need of aid is one harrowing story from one yemeni girl a warning you may find what's coming up upsetting. management even the retreat wouldn't have anything to feed her. pallor she skin and that's the worst case of severe mal

something out of the u.k.e seeing a little bit of a rebound in some of these 0.9%,an stocks, gaining although it doesn't look like it's an actual rally in the making. we have a mixed week when you look at asian stocks, european stocks are up, it could be a big week when it comes to global trade where investors are trying to position themselves for both possible outcomes. just remember, japan is also shut for a holiday. we are also looking at the u.k., andhe pound weekend, theresa may is seeking to buy time to negotiate her brexit agreement. 0.2%, a economy grew touch below estimates for the fourth quarter. the median economist estimate was 0.3% to growth. let's turn to the battle between jeff bezos at the publisher of the national enquirer. the lawyer for the national enquirer said it didn't try to blackmail the founder and said the photos and other details about an extramarital affair came from a reliable source, not the president. to help us make sense, let's bring in stephanie baker, a senior writer for blo

fashion industry leaders want the u.k. to be able to continue to recruit and trade freely with europe in the same way they have the years. catherine hamlin it is one of the country's best known designers an autumn blends passion and politics her message is unequivocal. how it gets going to trouble. you it's a complete mystery. it's serious saw it i mean kind of breaks but no deal is going to be thawed and why you know the twenty ninth launch means it's a completely arbitrary date it's got nothing to do with and. the made it worth the label is a growing tool in the fashion world the industry is hoping politicians will eventually deliver something to allow the u.k. to still be at the cutting edge of this global industry ever heywood al-jazeera in . time but on a short break when we come back i'm a whiling is that the ground mind me provided in south wales home of newport county football club and they're about supply billionaires manchester city in the f.a. cup they're not from secret weapon is that page. or. the latest news

a british inquiry has found it's highly likely that u.k. weapons of course significant civilian casualties in the war in yemen the report says british arms exports to saudi arabia violate international humanitarian law and the justification as applying weapons to the saudi emira to coalition is flawed they say well written as more from london. since the yemen war began in march twenty fifteen s strikes in military operations by the saudi led coalition forces are estimated to have directly killed more than sixty thousand civilians and that's not including the tens of thousands more who have died from starvation and disease . britain has licensed nearly seven billion dollars of arms exports to saudi arabia and the coalition nations since the war started and in twenty eighteen the un report alleged that u.k. and u.s. weapons have been used in attacks which may amount to war crimes now this house of lords committee has concluded that u.k. arms exports narrowly contravene humanitarian law and the government should act challenge the apparent viol

the u.k. is not impressed with germany's decision to stop selling weapons to saudi arabia i'm very concerned about the impact of the. decision on the british and european defense industry and the consequences for europe's ability to fulfill its need to commitments up until recently last november to be precise germany did sell weapons to saudi arabia but then this happened because shortly has been tortured beaten tortured killed and then dismembered was murdered in the saudi consulate it was looted to his death and this didn't help either. south africa markel did this firstly were outraged by this case i agree with all those who say that arms experts which are already limited must not take place in a current circumstances on it or in germany early provides about two percent of the total arms purchased by saudi arabia that's a drop in the ocean but crucially germany also makes components that are essential to other countries arms exports for example british arms. it has a contract to provide riy

cannot export cars to europe tariff free fall that will close and so european factory call it will cost u.k. three thousand five hundred jobs. this is business asia. so will china shift its position on venezuela the country is one of the key backers of nicolas maduro a socialist government even as fifty other countries recognize the venezuela venezuela's opposition leader legitimate president beijing has more than twenty billion dollars in investments in the oil rich states but with venezuela's economy collapsing china and russia seem to be closing ranks moscow is sending three hundred tons of medicine and groceries which will be flown to the capital caracas tomorrow because the door is set on state t.v. but aid from other countries like the u.s. is piling up at the border with colombia and the dura refuses to accept it that's despite the widespread malnutrition that followed the economic crisis. in moscow's seem to see that as a price worth paying to keep in the presidential palace. well china support for the socialist majority. is not only down to political considerations china has much b

the u.k.'s health secretary mike hancock has written to doctors and hospitals outlining the government's plans to ensure britain has an additional six weeks of supplies in the event of a no deal breaks it thousands of extra fridges have been bought to stockpile drugs the u.k. is preparing for a possible national emergency many of the country's leading doctors say the diagnosis isn't good. london. and. the headlines on. india says that some are tree jets have carried out in. groups and. radio reporting a dozen planes took part in the attacks the tensions between the two countries has been rising from the suicide bombing killed at least forty soldiers and ian administered kashmir earlier this month north korean leader kim jong un has arrived in vietnam ahead of a second summit with the us president donald trump the u.s. is calling on north korea to give up its nuclear weapons trump is due to arrive in vietnam later on tuesday our diplomatic editor james has more from hanoi. what you got to rememb

the u.k. can have status like norway and it calls for the u.k. to be in a permanent customs group with the eu. up.ould need to be set anand if thehe entirety of the labour parartyr a a large part f it will throw their weight behind the deal, theresa may could get that through the parliament. with ald do it combination of people in her party and people in the opposition labor party. the discussion may be coming up today, but it is such a drastic redrawing that it would probably take more time then they have to work out sometething like that because they would talk about extending article 50. deal toouould move e the later today or tomorrow. a standndoff is the latest flashpointnt in the cocountry's crcrisis. blocked byeen columbia. juan guaido says that supplies will get through. planas maduro s says it is a to colonize the cocountry and ststeal their resources. >> by order of the venezuelan governrnment, shippingng contais continue to block humanitarian aid from crossing. nicolas maduro says venezuzuelas not t a nation of beggars and tt it is aki

s an individual who chose to leave the u.k. of rome free will swear allegiance to a full street on a terror organization i'm a terror organization wanted to destroy the very way of life that she had run away from and the terror organization has stated them has killed people in the u.k. she still remains loyal to you has condemned it she hasn't felt any remorse for what she's done sue you the british government's choices whether they put any effort in to bring your back and my personal views of them think they should have been real difficulties when she came back and she would be a burden on society i believe she should be allowed back because she was groomed to the child not as an adult she was brainwashed with fully aware that we are here is our line propaganda is remarkably powerful that we should show her some level of mercy in turn and i think it would also be have been ok just for us if she were to come back because we could perhaps unpick the women that they were able to have on her and possibly divert or at least of you

alix: is any u.k. asset appealing to buy? point, we are being very careful with u.k. assets. there's so many incentives. how can you have really strong conviction there? we have exposures where we need to, but we are not taking big tactical bets. david: what about europe more generally? taking growth numbers down -- italy was stunning, from 1.2% to 0.2%. >> i think we are approaching peak negativity in the european economy. yesterday, we got manufacturing out of germany. the bright spot from industrial production, the sharp rebound in auto orders. some of those transitory factors bouncing back. europe is affected by the trade uncertainty. we are moving in the right direction on trade. spoke to the european commissioner. >> we still have solid growth in europe. we still have growth all over europe in each and every eu country. to march toward these situations. alix: break down the potential upside in that a lot of weakness is in part due to trade, particularly germany. if china is able to reflate, our markets prepared for europe to get drastically better? >> that is the key qu

the u.k.anking sector. the u.k. is said to be weighing trimming its $24 billion rbs stake. this after we saw the earnings. remember this is a bank that really got rescued by the u.k., and the u.k. has held it ever since. you can see the impact that will have. a decent sized chunk could be coming onto the market. maybe a short-term hit. abd overhang would be reduced, and in the medium-term it would be more positive. on your bloomberg, you can see the relative holders of these stocks. the united kingdom of great britain holds 60.33% of rbs. let's turn our attention back now to the head of global investment grade corporate credit at j.p. morgan asset management, lisa coleman. do you like bank corporate credit? guest: we do. they've got a lot of capital. the asset quality is good. we don't have to worry about funding for a lot of the banks. there are a few exceptions. regionally you want to be more careful about italy, particularly on this downgrade to italian growth. nervous of some of the french

for reports on u.k. mail nutrition is the enemy actually venezuela because she has deployed a military boat within fifty miles of the latin american country a mile off shore looming on the horizon the joint shape of royal fleet talk scenery ship mounts those pictures are from when the british military boat was defacto threatening syria after being dogged in what some cypriots believe is occupied akrotiri but as preparations were being made by the e.u. and washington to resell lector venezuela's president the boat was working with u.s. southern command which would surely be part of any don't trump military intervention in venezuela it's certainly being advertised by the royal navy as militarily capable it's what's below deck that makes these bay class ships unique a large wet dock in cavernous vehicle deck. troops and equipment can be loaded on to landing craft even in rough weather and did half the time of their predecessors this is british marines specializing in close combat from forty commando infamou

just -- let's just with the broader rating of the u.k. as a whole. s&p downgraded the u.k. right after the referendum in june 2016 as of now it's double-a rating with a negative outlook. there have been no further developments since then on the rating side of things. can i just ask you, as we get closer and closer to the deadline, what assumption are you working on are you working on the assumption that the u.k. will smoothly enter into transition deal do you have a view in s&p view on what the final trading relationship is going to look like >> so our base case for the rating was on the sovereign entities in the u.k. remains that of an orderly brexit, although it might be delayed we acknowledge there is a significant risk of no deal and, therefore, we've published that report last week where we've really tried to lay out for the investors what could be the implications on the ratings, and just maybe starting with sovereign because you mentioned the negative outlook on the sovereign. indeed, the negative outlook reflects the risk of sustained economic weaknesses or deterior

who told us the u.k. is unlikely to give up such a lucrative business end of the day the u.k. girl. is not interested in how much destruction is actually being. either by a british workman really given to saudi arabia from the british one of the early ninety's even condone the independent on whether their weaponry is responsible for the bombings for the killing in yemen they were lying strictly on the facts data provided to them by the current saudi arabian government the british government most realize this but the united states go for a long. war in the middle is not going to stop until both governments or weapons to the. us are stepping up its attempts to ship humanitarian aid into venezuela sending supplies to the venezuelan colombian border the shipment was accompanied by an american delegation which also included the florida senator marco rubio he took the opportunity to hit out at the embattled venezuelan president nicolas maduro that. it's very minimal enduros regime is not a government it is a mafia it is an organized crime syndicate similar to the mafia's that existed in t

lawmakers criticizing the u.k.ellor says brexit agreement could deliver a deal dividend for the british economy. they feel it is unreasonable to describe an amicable divorce from the block in such terms. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. alix: theresa may expected to speak anytime now. she will ask the house of commons to give her more time to renegotiate a brexit deal. pmq's and then thursday, they will vote. what can she ask for today? >> there's not very much she's going to ask for. we've been talking for months about a meaningful vote. many think this is a meaningless vote. to will ask for more time get changes to her backstop deal . time, we'vee same time from michel barnier and time again that we will not renegotiate. will she go to jeremy corbyn to say let's go to a customs union? >> we haven't seen any firm signs of that. she did write a letter to him over the weekend saying she's more open to a customs union. she wants to get her deal

leaving the u.k. responsive. to see how the u.k. would react in that kind of situation and this is what i mean about international cooperation and you keep doing its rule as a responsible member of the international community could speak when you get out speaking to us there from london thanks for being with us. we don't know where the next stand then the u.n. offering to step in and help resolve tensions between india and pakistan that have been simmering since an attack interests me at. all saudi soldiers killed as fighting continues along the border with yemen it's all ahead. at other shows a growing again slowly but mostly of indy's iraq in places for they don't however in sumatra peninsular malaysia they have shown themselves to be interested so if you're in k.l. or going to singapore you might catch a. it's not unlikely event but it's still possible for the sas in jakarta to cure is more likely is likely in southern borneo and so the way but the philippines are remarkably dry and much of the main in the southeast asia into chi