plus, u.k. scientists warn the country could see as many as 200 deaths a day at the next virus peak. in france, macron says vaccinations will be compulsory. welcome to the european market open. mark is with us from singapore. what are the markets saying to you? mark: in a macro sense it was a quiet day. we have no clear themes. yields were quiet, fx quiet. asian stocks generally positive. hang seng and tech stocks were leading the way. as a story of approval, tencent boosted its move. and a rebound after pain in chinese stocks recently. that was one of the main micro stories. it is anticipation for what comes ahead. we have u.s. bank earnings and the important u.s. report today. anna: we will focus on the cpi report. we are getting lines on the financial stability report, and lines coming through -- we will get through those and have more analysis through the show. the first line is the cyclical buffer. the ccyb as it is known. an increase will not happen until q4 2022. this is capital banks hav

ruth: all u.k.nies, their value has been lagging in terms of trading basis relative to their global market peers, so that is one. secondly, u.k. grocers have had a pretty good pandemic. there's been an increase in grocery spending. morrison's itself, it owns about 85% of its almost 500 stores, as well as manufacturing sites, and the real estate alone was valued at about 6 billion pounds, which, if you remove the takeover premium the country is trading right now, the real estate value was higher than the company's capitalization, so you have a situation where private equity and investment firms are looking at these companies and saying, well, investors are not valuing them at a premium. why don't we see what we can do? guy: that is apparently becoming clear now to the market. we are seeing share price is going higher. private equity has a lot of money to deploy. do you think we are done with this story yet, or could we see others stepping in? apollo is the latest story. there was some talk over the w

if the u.k.p andeally lead the charge by saying, we are putting our money where our mouth is. we should set an example. if the pledge for this year is not significantly what it was before, especially because of the pandemic, is more rhetoric -- it more rhetoric. it is not enough to express passion. it is to back the passion with action and the resources people are asking for. phillipa: do you believe the british government had a responsibility here because this was a summit hosted in london? >> exactly. you set the pace. you set the tone. you indicate by the way you expressed support for this, that will catalyze action from other countries. if the u.k. doesn't signal that it is really serious about making this front and center and giving political priority to global britain, as we call it, it would influence others, the way we expect them to act. the call was for $5 billion. that should have been the mantra, and making sure that they stepped up and then getting others to also step up to reach tha

the u.k., telling businesses to stay away. the latest blow to england's reopening. good morning. just under one hour away from the start of cash equities trading an important to check straight on those futures, given the day we saw in global markets yesterday and the day that is continuing through the asian session. worth reminding ourselves we were down by more than 2% on the ftse, the ibex, down by 3.3% and change yesterday so the futures picture suggests a bit of a bounce. we will see how long it lasts for. we have negative headlines around the virus to deal with. the u.s. giving tougher travel advice of the u.k.. knockdown extension, the apple story around delaying their return to office. all of that perhaps taking the edge off global risk appetite and if we look at u.s. equity market for us, we are expecting to see a rebound from the losses in the u.s. yesterday, down by more than 2% on the dow in yesterday's session, more than 1% on the nasdaq and the s&p but we expect them to see a litt

the u.k.'s chancellor rishi sunak about his plans to sharpen london's competitive edge. if you have questions on your own for our guests, extend them. ib+tv is the function to use. ♪ >> the good news is the technology is poised to be able to react. it is not as though if something really bad starts appearing it is going to take us years and years to react. we can do it in a shorter period of time if we all stay vigilant and coordinated. >> we are sequencing the variants to understand the prevalence. for now, extremely low, we will continue to sequence and pay a lot of attention to ensure we can respond. the best we have at the moment is to continue vaccinating. anna: the chairman of moderna and the spanish foreign minister talking about the delta variant with bloomberg. worries about the spread of the variant may be one of the biggest risks for markets at the end of the second half of the year. are you somebody who thinks concerns around the delta variant are overdone or underdone? j.p. m

she told journalists when she was in the u.k. just a few weeks ago at the g7 summit that it was the highlight of her trip, that she met with three generations of the royal family, and we know she's a fan to ended having tea with the queen, that would have been something really special for her. michael: much thanks as always. angela merkel became the german chancellor back in 2005. boris johnson is the fifth kurdish prime minister she has dealt with. we take a look back now at how merkel has weathered the changes. reporter: what a moment to visit england -- the crowds are already cheering, but not because angela merkel is coming. instead, it's about beating germany at football. but the chancellor has seen all sides of this love-hate relationship before. during 16 years in office, she has dealt with five british prime ministers in all and she came to power, tony blair was in number 10 downing street. they had big plans to end poverty and start tackling climate change. hopefully -- both were hugely popular with voters but as her pow

i think the security licensure between the u.k. and germany isn't as strong as it is between the u.k. and france, but both sides wanted to be as close as possible. the message from the germans that i gather has been to please don't have this about talking to the eu per se, just by talking to the big boys and girls. you have to have a very strong message to talk to the eu itself. guy: is it possible to align security, possible to align trade, possible to align travel? is it possible to have them doing different things at the same time? is that the kind of relationship we are heading for here? how much harder is it going to be demanded that relationship and get them all right? as you say, the security architecture is pivotal in dealing with terrorism, dealing with immigration, all of these huge factors. is the relationship constructive enough, detailed enough to be able to do all of these different things at the same time and keep all the plates spinning? charles: it is very difficult to keep all the plates spinning. there's a real l

let's turn to the u.k. british government has demanded that the eu agreed to rewrite a deal overseeing post-brexit trade involving northern ireland just a year after it was agreed to. brussels has categorically ruled out the renegotiation, placing it on another collision course with london. we are joined from dublin by darl doyle. what is the u.k. proposing at this point? darl: they are unhappy with the amount of disruption of trade. they say there are too many checks. in terms of what that detail amends, they are talking about an honesty system where a good that is moving from britain to northern ireland should not be checked, only goods that would be declared as moving on to public ireland. it's an honesty box system. it gives you an idea of the level of planning that is going on. another key thing that is very interesting is that they want rollout of the court justice gone from the protocols. all in all, it was a very threadbare plan. dani: this is something we thought perhaps have been resolved. it's fa

alix: u.k.rime minister boris johnson talking shortly before his brexit ministers inform parliament he will seek to renegotiate the northern ireland protocol. the response from the eu? we are not going to negotiate. where does this leave everything? bloomberg brexit editor edward evans joins us now. this means there will be channel checks within the irish sea to make sure that nothing else is violated. what is the problem? why won't the u.k. go along with that? edward: because from the u.k. government's point of view, northern ireland is part of the u.k., and by opposing this -- by imposing this trade border in the middle of the irish see, you have put a great friction on trade moving from britain into northern ireland. what that has meant in practice is that the shops in northern ireland have been left without goods because they are dependent on suppliers from the mainland. customers haven't been getting deliveries from companies in the u.k. that has been awkward. what makes it highly sensitive

raises the u.k.raveler to the highest level as the delta variance urges, another hurdle in getting back to normal. and the next giant leap for mankind. jeff bezos returns from space in blue origin's new shepard roddick it -- new shepard rocket. busy tuesday. things feel a little bit better when you take a look at the markets. you have european stocks, the stoxx 600 reversing four days of losses, up by about 0.8%. the bond market tends to throw some cold water on the move we have seen in the equity rally. similar theme in the u.s. as well. the u.k. 10 year yield, i am pointing this out because the buy we saw yesterday truly came in the u.k. and the u.s. those are the economies that were looking better, that maybe the fed and the boe could move faster than investors were thinking. that is now totally thrown on its head, and you are still seeing a move into the market as well. euro sterling also quite interesting here, now looking at five days of weakness of the pound against the euro, continuing to see

i have left the u.k.ed states, and because i had a blue passport, i was able to enter freely. that is not the same for a british individual even if vaccinated. is there any progress with the u.s. government on this? liz: this is an area we are keen to see progress some. i have been talking about the level of investment of u.k. companies in the u.s. and vice versa because we need to make it easier for business people to travel, because ultimately that is what helps drive trade. it helps drive economic growth. there is only so much you can accomplish on a zoom meeting. we would like to see it easier on business travelers. anna: that was the u.k. international trade that would terry talking about trade between the u.s. and the united kingdom. the european commission on climate laws today. we get more on this, and the impact it will have on the energy sector next. this is bloomberg. ♪ >> we are not just going to be delivering electric vehicle charging stations. we are here to fundamentally reinvigorate the ec

u.k. assets have sold off and if the u.k.seeing a surge in fatalities to a crazy level, if this is one of the new epicenters which can cope with living with this, than many other countries that are doing well on the vaccination program have hoped but it does come down to how well countries are doing on vaccines. it is not a good sign for countries that are struggling on the vaccination program. anna: incredible test of the vaccine wall in the u.k. and if that chart stays, then it will be an incredible endorsement and so far it does seem to be an incredible endorsement of the rollout and the way it seems to be work. -- to work. so certainly, the u.k. case is very interesting to watch. let's step away from the delta variant and ongoing concerns about what that is doing to various populations and the global economy and get back to the earnings story. significant raw material price pressure is set to continue in the industry. europe's largest paint maker has reported earnings that beat the analyst estimates. very good to speak to

that u.k.es travel rules to allow more foreign visitors. >> people being vaccinated in europe and america now means we can move to the next stage, allowing people to come here, and if they are double vaccinated, avoiding having to quarantine. >> england, scotland, and wales have these there restrictions in time for tourist season. no change in northern ireland. the united states continues to push its vaccination numbers up. president biden: we still have a lot of people that are not vaccinated. the pandemic we have now is a pandemic of the unvaccinated. >> meanwhile at the olympics, japan sits at the top of the medals table with a gold in men's all-around gymnastics. simone biles pulls out of another event, blaming the twisties, when gymnasts lose their sense of awareness in the air. ♪ >> welcome to our viewers on pbs in america and around the globe. let's begin in the u.k. the government has scrapped quarantine rules for most fully vaccinated travelers arriving from the eu and the u.s. to engl

the u.k.rade chief downplaying the chances of a u.s. trade deal by the end of this year. we will hear from her in just a moment. let's take a look at where we are with u.s. markets, european markets first. the stoxx 600 down by 0.1%. the dollar is on the front foot on the back of that cpi number in the united states. alix: let's get to that cpi number. definitely higher than expected, the highest recorded since 2008. but the bond market is telling you it is transitory, and all you have to look at is the curve. five 30's, flatter by about 100 basis points -- by about four basis points. you have front end yields rising and back in the yields going lower. that means inflation now may be a hike sooner than we thought, but overall, the inflationary input is transitory. that is helping the nasdaq. you are still having the nasdaq 100 tech stocks continue to outperform. the bank of america fund managers survey says that is still the overcrowded trade we saw in the first six months of last year, and it

let's talk about the u.k. and u.k. policy around covid.rray with covid cases rising the most in the world. and the public outcry over his attempts to dodge isolation calls after his minister tested positive for the virus. pandemic restrictions are ending in england, the government putting their faith in the vaccinations taking place across the country. this isn't the freedom day boris johnson made. joining is now is lily burden, outside somewhere in the city of london, normally bustling -- hasn't been for a while, but would have been 2019 and before. what exactly is changing today? >> yes, so freedom day is here. all legal restrictions on social contact have been lifted. there is a safe trust in public spaces have been removed. all of the venues capacity limits have been removed, against a backdrop of rising cases in the u.k., soaring the most in the world. hundreds of thousands of workers have been slept -- into this pandemic, forced to stay-at-home because of the track and trace at, which is notified them they have come into contact with

is there anything the u.k.th th -- about the transfer of financial services to the eu post-brexit? is there a plan to reverse some of that? tom: the u.k. government is doing its best to make out that there is a plan. they talked about four or five consultations and what they are going to do. that is a big question. the hit has not been too painful yet. you have banks setting up store in europe in a more widespread way than they previously were. if you are a rival in london, you're thinking " this is a freebie." it is not week arnie -- weak or anything. guy: the chancellor seems to have given up. tom: the u.k. has given equivalents too much of the eu on finance. the eu has only given one, admittedly critical, decision and they have made no further moves on that. i can describe sunak's comment there. from the british side they are saying, " why are they eu taking so long -- the eu taking so long? we will look forward and make the best of this situation." guy: what does it look like? rishi: it is - -- tom: it is n

the u.k. gave to the e.u. during a campaign five years ago , an estimate. go back to what i said many, many times, we read about the story confirming with hancock and cctv and so forth. in the middle of a pandemic, i think that is quite fast going. >> you had your time. thank you very much. moving on. >> i am going to move onto the subject of prop 26 and climate change. the government responded to the climate change progress report recently, the government pointed to historic success in renewable energy. given the covid crisis delay from introducing the myriad policies it requires to deliver against the admirable target of 78% reduction of emissions by -- when can we expect you or your ministers to start delivering to this house the policies to get us to 78%? p.m. johnson: the plan i set out last november. you would have seen what is happening in green technology and this country. a massive investment in green. battery powered vehicles, you saw what is happening -- in terms of delivery, our ob

. -- u.k. eu can invest in to provide a platform for peace and prosperity in northern ireland. >> the european union rejected any idea of renegotiation. also, devastating floods in central china and in one city the equivalent of a one year average of rainfl has fallen in just three days and there is more extreme weather on the others of the world. we have the latest on the huge wildfires in the u.s. state of oregon. and he is known as the greek freak. how has this man become the superstar of the nba finals? welcome to our viewers on pbs in america, the u.k., andround the world. in january of 2020 the u.k. and eu agreed and signed the brexit withdrawal agreement today the u.k. government ministers have been pushing to change one of the most contentious issues, the northern ireland protocol. under the protocol a range of products, maybe food, has to be checked when they arrive from britain to make sure that they are in line with eu standards. because northern ireland has a land border with you st

reporter: the u.k.t says it has a long history of supporting the development of technologies. the industry would like more, driving further change in these islands and beyond. laura: before we go, some sad news for the world of rock 'n' roll. dusty hill, the founding bass player for cz top has died. he passed away in his sleep at his home in houston, texas. it was one of the long bearded musicians behind such hits as sharp dressed man. the band was inducted into the rock 'n' roll hall of fame in 2004. rip dusty hill. i am laura trevelyan. thank you naator: funding for this presentation of this program is provided by... narrator: financial services firm, raymond james. narrator: funding was also provided by, the freeman foundation. by judy and peter blum kovler foundation; pursuing solutions for america's neglected needs. and by contributions to this pbs station from viewers like you. thank you. ♪ ♪ narrator: you're watching pbs. ♪ da-da-da-duh-da-da-da♪ ♪ da-da-da-da-da-da ♪♪ is your family ready foan e

if you live in the u.k. and have been vaccinated in the u.k. you can travel now.an return without quarantine. here's the issue, if you are a u.k. residents and try to come to the united states directly you cannot,, that's the problem. we do not have a reciprocal relationship with the united states of america and this is the problem right now. from july 19 if you are vaccinated you can travel to europe, back to the u.k., no quarantine. my personal example, if i fly to the u.k. today before july 19, i would have to quarantine for a short while. i would not be able to fly back directly to the united states. i would have to find a third country and stay there for two weeks. what a fantastic time of the transport secretary of the united states this morning. why do we have no reciprocal arrangement with the europeans, with the u.k. ready to go for this summer to help out these airlines? the cdc told us the delta strain has become the dominant strain in america. tom: it is. i think it will be very good to speak to secretary buttigieg about this. to me, what is so importa

the u.k., and we see indications that the morrison share price could be up 14% compared to the close and that was already going to be the case because we had already seen some activity over the weekend so this bid from apollo is in addition to the bid we heard over the weekend which was led by a fortress. they agreed to buy morrison or so they thought but that was always thought to be something that could potentially trigger a bidding war. we have seen other interest from other parties. cdr had been earlier bid and that was off the back in june. that was rejected and now, we are onto our third offer. that was certainly one of the talking points over the weekend. coming up on this program, opec-plus in crisis. the standoff between saudi arabia and the uae leaves oil markets in limbo. we hear from the ministers at the center of this falling out. plus europe's industry bosses see price hikes ahead as supply chain disruptions hamper their ability to match demand. we will hear exclusively from the

u.k. fully reopens in the midst of a furious backlash against prime editor boris johnson and his initial refusal not to isolate after covid exposure. china, it's your fault. the u.s., u.k., europe officially blaming china for hacking microsoft, escalating tensions between the west and china. european equities led the way lower. european stocks off by about 1.5%. the cyclicals are really getting hit. energy, travel, leisure. where the money is flowing is interesting in two ways. obviously it is going into the bond market. you have yields down in germany by about four basis points. that's where the recovery was going to be. that is where we might see central banks like the boe or the fed think about raising rates sooner than we think. that's where the recovery trade was, and that is where we are seeing the lowest yields today, the 10 year by about nine basis points. the dollar has been quite interesting because you did see a stronger dollar story earlier in the day, the highest level we have

the u.k.ng experiment perhaps. a rising wave of infections. more on the covid fight next. ♪ anna: 15 or so minutes to go until the start of the cash equity session. u.s. futures look flat this hour. boris johnson has announced plans to stop social distancing in england. face masks will be made voluntary and the government will no longer extract -- instruct people to work from home. >> we must be honest that if we can't reopen our society in the next few weeks, when we will be helped by the arrival of summer and the school holidays, we must ask ourselves, when will we be ready to return to normal? anna: thanks so much for joining us. my understanding is the u.k. broadly is the only nation looking into a rising wave of covid infections. we were guided we might see 50,000 cases a day. it is better to do that now then to do that into the winter. we seem to have not broken but reduced the link between infections and deaths and hospitalizations. how did that sit with you? >> good morning. i have bee

dani: u.k.me minister boris johnson speaking from self-isolation as england lifted most coronavirus restrictions. the state department issued a do not travel statement. even fully vaccinated travellers are at the risk of contrasting and spreading variants. let's get more from rachel chang. rachel, what are we seeing in the u.k. right now, how bad is the situation that the c.d.c. thought it had to issue this alert? rachel: if we look at cases, the u.k. is reporting the most number of new cases in the world, 50,000 cases a day, goes numbers are pretty shocking. it's understandable why the u.s. looked at those numbers and said this is a scary situation. but at the same time, what's really interesting about the u.c. situation is that vaccination has reached a very high level, we're seeing fatalities remain at a very low level. sunday, 25 people die, 25 people, it's still a tragedy, compare it to indonesia, same number of peaches. the vaccination has severed that link between infection and death. the

a lot of that is the u.k., the hope that with virus cases calling for six consecutive day the u.k.continue to open up and people will continue to travel. i also want to show the action in sterling. that also reflects more optimism in u.k. economy in the virus situation. we are seeing cable up .5%. that is sterling versus the dollar. a sixth consecutive day of declines in the link between cases and hospitalizations seems like it might be broken and that is giving people confidence. onto the individual stocks. a lot of movers beneath the surface, because of the earnings picture. that is why ryanair gained 4%. ryanair saying they expect a profit this year but the european summer is back on. everybody is booking and going everywhere on the budget airlines. the biggest loser in the stoxx 600 was prosus. the company has a big stake in tencent. tencent underperforming with rest of the china story, china's crackdown on tech and education. finally credit suisse has settled with their former wealth manager over the spying scandal. they also report earnings soon. all of that means more optimi

in the u.k., we are seeing lots of people with infections.hat seems to really be debiting the pmi numbers. -- should -- seems to really be dampening the pmi numbers. there's more constraint in the u.k. than anywhere else. alix: that's a really good point. that self-isolation thing is unique to the u.k. we were talking about people spending. we know that people have accumulated savings much more in the u.s. than elsewhere, but can we say for certain if people are spending all of their savings or if they are going to keep some of this? that is going to be a protector as to how long this is going to last. chris: obviously we don't know this from the pmi's, but consumer demand is very strong. there's a big surge in the desire to spend, especially on the services side come or people have been cooped up and are embracing what freedom they have at the moment. we know there's a lingering concern, heightened uncertainty about just how much freedom is going to last for how long. so this is most evident in the future expectations that we got in the pmi

u.k. cases continue to fall. they are obviously still high, but they are falling currently. u.k.s reporting just 131 more covid deaths as of today. they do say about 23,000 more cases as of today. so again, they are high, but definitely following, going in the right direction. dani: i think it is really important to watch not just the case count, but the death count as well. the big question in the u.k. right now is whether that link is broken. a lot of people we speak to talk about this link being broken, and it is not just what happens in the u.k. markets, but it might tell us something about how we can price growth in the future as well. alix: let's get a check on u.s. markets as well because we are definitely seeing some movement here. we are falling from record highs. the nasdaq 100 is getting hit the hardest, down by over 1%. it is the big tech world that is reporting after the bell. google, microsoft, apple. you have a lot of investor interest in those stocks. tencent in the u.s. is getting completely decimated, down by 6%. some of the technology education related stocks,

the case count is going to continue to climb, but the u.k.overnment is going to continue pushing on with the reopening. is there a danger that we see another misstep, another u-turn from the boris johnson government? emily: you never quite know where he goes next. what is interesting from what boris johnson was saying in his press conference last night, he didn't use the word irreversible, which he has used. he knows it is not irreversible. if another area derives, if cases go through the roof, it hospitalizations and deaths go up substantially, he may well have to reverse some of the lifting of restrictions that he want to do on july 19. so that looks set to go forward, that we are going to see the remaining restrictions lifted. huge changes, really. nightclubs back open, school bubbles ending, all of these restrictions that we have grown used to in england coming to an end. but as you can see, the health secretary saying by july 19, we could see 50,000 new cases a day, and as we go into the summer, it could go as high as 100,000 cases. what

the u.k.especially cases that started to roll over, potentially, still too early to tell, but it does look like we're seeing a mild improvement. and hospitalizations are going steady. if we move past these different fears, we're going to see growth is going to remain solid, especially in the united states. so much savings, so much consumption, very little appetite for renewed block time -- renewed lockdown, very little appetite that might be smart to come, but could be difficult to -- given the polarization in the u.s. growth is going to remain solid, and that means markets are going to see that we're not in a sharp deceleration phase. the more cyclical elements are going to rebound again. rishaad: i want to bring this to the mliv question of the day we have. when will the debt field stock rally end? i'm sorry if that sounds like how long it's doing, essentially, but it's all about what the fed is saying and how the fed asked. -- acts is there. -- acts. is there no alternative trait? -- trade?

the u.k.ds 50,000 new cases in a single day, the highest since january. south africa's president has just addressed the nation after days of riding and looting. he says efforts to overthrow democracy have failed. >> using the pretext of political grievance, those behind these acts have sought to promote a popular insurrection amongst our people. ♪ >> and a decade after the death of amy winehouse, her parents tell her story in a new documentary. ♪ >> welcome if you are watching on pbs in the united states, or around the world. more than 120 people have been confirmed dead after parts of northern europe were devastated by some of the worst flooding in decades. hundreds more are injured and others unaccounted for. the work of the emergency services it being severely hampered by difficult conditions. the german president has called for a more determined battle against climate change. the german states were worst hit. over 100 people have died there. in belgium, at least 20 people have been killed.

obvious strength in the u.k.covery story but there also could be things to watch when you think about where interest rates go next in the u.k. economic story. coming up on the program, is it a wise decision? wyse shuns a traditional ipo opting for a direct listing in london this morning. the first big tech debut of that. . kind in europe plus the european union has proposed new rules to bring the world of finance in line with its ambitions to make the block carbon neutral by 2050. we discussed the race to net zero. we will also talk about this with the european commissioner for financial services. next, we dive into the market conversation from an fx perspective. the push for havens lifted the yen. if you have questions for our guest, please get in touch. ib+tv is the function on your bloomberg. >> opec is holding this thing together. that is what is reflected through volatility. you can see it in the equities. >> either an agreement will be made and the uae will get some dispensation or in the worst case sc

take for example the u.k.dings that would normally be going off to parts of europe, parts of east asia like thailand for their holidays, and they can't do that anymore, so they are staying at home, and all of those are bidding up the prices of hotels and apartment all over the u.k. so it may be the prices in thailand are falling, but the reality is that u.k. inflation is picking up partly because of these they cannot easily be exported because people can't go elsewhere. alix: really interesting point. good to catch up with you. we very much appreciate it. this is bloomberg. ♪ ♪ "bloomberg markets -- ♪ ritika: it is time for the bloomberg businessflash. apple rallied to another record today after a report that suppliers are asking to build as many as 19 million iphones, an increase of 20% from last year. -- has agreed to take a stake of almost 5% in jefferies financial group, part of the japanese bank's effort to strengthen its securities business in the u.s. a statement says that the two will collaborate on co

>> i would point out that if you look at the u.k. number of cases and the u.k. number of hospitalizations and of deaths, what we see there is a wreckage in the link between the spread of the virus and impact on people's health in terms of having severe reactions. the key there is obviously, inoculations. u.k. is one of the best among the developed economies in getting shots into arms. that does make a significant difference. again, it comes down to the psychological factors. do your parents change their consumer behavior because of the headlines about the spread of the virus? that, we don't know yet. going back to the bank of america team, the risk is bigger now in terms of having an economic impact because the u.s. economy is so much more open than it was during these spikes in the virus late last year. or in the summer of last year. there is that much more activity to contract and hurt the economy. caroline: people are not wanting to go out even if they are fully vexed and in the u.k.. thank you so much. despite the concerns of the delta variant, there is no s

that's what the u.k. chancellor wants the u.k. to be. my exclusive interview with the chancellor. this is bloomberg. ♪ ♪ anna: welcome back to the european market open. this friday morning, nine minutes into the last trading session of the week, european markets making modest gains, up .2%. with look at the movers, and its an entirely finished affair when it comes to m&a in the valve making space in finland. that's the story moving things around. we'll all show -- valnet is doing the buying. as a result of the share deal, we see valmet moving. valmet managed to fight off competition from sweden that also wanted to get its hands on it. that's an interesting one to watch. we also have house bills. we've got beltway in there. there's still positive on the homebuilders. they make the point that homebuilders share prices are down about 10% the past month, even as the housing market made strong. we know support of the housing market are coming to an end. that's an interesting thing to thing about. that's the stock we have on the move this morn

u.k. blaming the chinese government for the microsoft tact that happened earlier this year -- microsoft hack that happened earlier this year. herewith with more is bloomberg's annmarie hordern. annmarie: what i would say differentiates what happens with this latest move is the united states is on board with a number of countries, including the united kingdom, european union, japan, do welland, australia, and critically, nato. this is the first on the alliance is having this condemnation about cyber espionage in china. that really differentiates the approach we have seen from the prior trump administration and the biden adminstration, both taking a tough line on china, but it is clear bite and wants to do it -- clear biden wants to do it with a multilateral approach. so what you have here is a number of countries coming out and saying this microsoft hack, the actors that were responsible for this are affiliated with the chinese government. they are also saying the chinese government is resp

a lot of the eu is behind the u.k. the u.k.huge pickup in cases but not as big a pickup in hospitalizations and deaths full that -- hospitalizations and deaths. will that be replicated elsewhere in the eu? scott: an interesting phenomenon in the eu. the eu was lowered to vaccinate but they also vaccinated more with the mrna vaccine, which could lead to less transmission. the negative story at the eu level in the beginning of the vaccination campaign could turn into a positive story if they see less cases because they have so many people vaccinated with the more effective mrna vaccine. in terms of total number, they are picking up. they will be at thev"Ñ0■ place e the u.k. is. probably three or four weeks behind. it does add some risk. it does mean the virus will find more unvaccinated people to send to the hospital but ultimately it is possible the eu story turns more positive due to the kinds of vaccines they are using than the u.k. story. taylor: is greek letter day as we learn about delta, an alpha variant. i am thinking pos

and u.k. are interesting kind of test cases for us because they have been quite successful in the vaccination program. the u.k. in particular has been successful. we have seen a mass surge in cases. the news is positive from the u.k.. i'm more worried about the u.s. because their vaccination program is only vaccinating twice many people in the u.k. now and have a population of five times as many. anna: it is a big headache in the u.k.. reopening the economy, you are seeing hospitalizations as an issue. how to keep young people in school. that is a real quandary. mark with us for the hour. you can read the rest of it if you want to get all of the thoughts from team mark and his colleagues. coming up, e.u. members figure out if and how they can afford to block ambitious climate plans. netflix is making its first big move beyond tv shows and femme. up next, investments, we get the taken to fed chair's remarks. if you have any questions for our guest send them over. this is bloomberg. ♪ brazilian

she was a u.k.'s first black-- the u.k. 's first black police officer. i'm sure colleagues will also want to join he in wishing the english football team the best of luck. [inaudible] in the final against denmark. i had meetings with others, and in addition to my duties in this house, i will have such meetings later today. thank you, mr. speaker. >> prime minister, we hear a great deal in this place about the rule of law and injustice. can the prime minister tell me what he's going to do about the defunding up and down the u.k -- the next post office scandal. the handing is clearly accountable to no one. according to the held of hmrc, without any legal basis or justification, prime minister. >> mr. speaker, i'm acutely aware. i think the all colleagues are around or the house, of the pain suffered by those for victims of the charged schemes, and they were misguided to do so, but i think that the line taken by the treasury, i'm afraid, is right. >> let's go to john stevenson. . >> thank you, mr. speaker. prime minister, there's more that unites us than di

anna: let me ask about the u.k. bank, 54% owned by the u.k.t, but they have flagged they will sell down its stake. you have to go back a couple of crises to find out why the u.k. owns this business. joe: it is a big legacy issue for the u.k. government with this holding going back to the financial crisis. there will be a share sell, they have not said how much they will sell, less than 15% of the overall trading volume. they have already sold around 2 billion pounds of that stock this year alone. we are coming to the u.k. banks earnings season next week. the big question is if companies will issue dividends and buybacks now that the bank of england has said they are allowed to. the big question for management is whether they will buy back some stock from the government, or let it go into the public market. that will be want to watch in london this morning. anna: mark, i want to get your thoughts on the headline surrounding china ever grand. it is listing its tourist's nest. what do international investors need to be aware of? mark: this is suc

plus, u.k. scientists warned the country could see as many as 200 deaths per day in the next virus peak. in france, macron says vaccination will be compulsory for health-care care workers. good morning 6:00 a.m. in london, 9:00 a.m. here. we are going into a data sweep that will define the next move in the bond market and dollar and equities. the cpi the highest since 1992. that is the backdrop. the question is, it is a bloomberg phenomenon, dani burger. i am not in the bloomberg camp, -- boomer camp. millennials just don't care about inflation, dani burger. dani: that means we are not vexed, we don't fit on the high end of the charge. when it comes to equities, whether you are a boomer or not, i thought you put it well before the show, it's about the math. equities don't care about the boomer, they're looking at a 10 year yield at 1.3%, and sanguine about inflation. and earnings season expected to be the best in postwar history. this from jim polson who says typically when this happens, equitie

ros: while russia and the u.k. the worst hit, the delta variant is spreang rapidly in both countries. russia has recorded 25% more cases than the previous week, while the u.k. recorded 28,000 new cases today, the highest daily figure since the end of january. both countries are hosting euro 2020 matches. these pictures are not being ignored. this was in london on tuesday, just after england had beaten germany. not much social distancing, and lots of hugging. 40,000 people were in the stadium, most of them english. that was on tuesday. on wednesday, the u.k. reported over 26 thousand cases. it's its daily figure since jen -- it's highest daily figure since january. i am not connecting those figures directly with the football match, but let's hear the analysis of the who. >> we need to look beyond the stadia themselves. what we need to look at it around the stadia, how are people getting there? are they traveling and large, crowded convoys of buses? are they taking individual measures when they are doing that? what h

the advisory comes a day after the u.k.'eedom day, a lifting of pandemic related restrictions to market full reopening of the economy. data shows the u.k. added more than 100,000 new cases during the weekend. also in the u.k., vaccine certificates are set to become a requirement to enter nightclubs and other large indoor venues, starting at the end of september. the prime minister, boris johnson, delivered the news from video link from else -- from self-isolation after he was exposed to the nation's health minister who tested positive for covid-19. and finally, a female u.s. gymnast has tested positive for covid during a pre-lim pick training camp northeast of tokyo. olympic officials declined to name the specific gymnast, saying only she was in her teens. two other athletes from the south african soccer team have also tested positive inside the limbic village. this, as cases died of the games continue to rise. the opening ceremony is set for friday. global news 24 hours a day, on air and on quicktake by bloomberg, powered b

the u.k.'s economy could face a loss of more than 4.6 billion pounds. we will get the take of the cbi at 8:30 a.m. london time. up next, if you have any questions for our guest, please send them to us. that is the function as normal service is restored. white skies across london. this is bloomberg. ♪ erg. ♪ anna: welcome back to the european market open. 45 or so minutes to go until the start of the european equity trading session. futures pointing to the downside and that is interesting in itself because i'm trying to work out what is the reader across from the china story. what is the read across from that? is it just sentiment, chinese government more active, read across into other markets or is it more complex? what is the link, do you think? mark: that is the multitrillion dollar question. we are seeing terrible performance in china and hong kong stocks today area there is not any panic elsewhere. i think many investors may not be aware but china is the second-largest equity market in the

s leveling-up fund, total u.k.llocations in the first round will be in wales, and i thank him for -- he's put in today. >> let's go to -- [inaudible] >> thank you very much. of course, now they're talking about leveling up9 and the government -- we in scotland are settling up for the people of scotland. mr. speaker, i hope the prime minister will be reflecting on the judgment finish. [inaudible] yesterday. the judgment was maladministration in dealing with the 1950 -- about time that the government delivered justice for those involved. mr. speaker, last night we heard from the prime minister's former chief of staff on the 15th of octobering the prime minister didn't believe that the -- [inaudible] would be overwhelmed and thought that the -- should be sacrificed to the whims of the deadly violence. the prime minister wrote those words while -- was facing the dark keys moments in its history, while doctors were fighting to contain the pandemic, the prime minister was actively pushing for the virus to be allowed to r

guy: the u.k.sfer secretary speaking earlier in the house of this is becoming increasingly confusing as to was alternately happening. the u.k. is in some ways try to make it easy. a lot of details around testing are difficult to determine how easy it is going to be to travel. it only applies to english residents. if you want to come see me over here, you still have to quarantine coming out with another country. we cannot come and see you. the situation in europe, really confusing. germany is looking to classify spain as a covid risk area. the case numbers of the delta variant in spain, absolutely surging. we will try to get some clarity. i am not entirely sure we are getting at. taylor: headlines out of anthony fauci as welcome us and all three of the u.s. authorized vaccines are effective against delta, at least reducing severe cases and hospitalization and death. many of the cases you hear about our asymptomatic or mild. we had that fancy dating -- fascinating conversation about the divergence we

the u.k.s., and others have posted sanctions on the military junta after their deadly crackdown on pro-democracy demonstrations. our correspondent has more from the united nations. correspondent: this was a chance for security council members to hear directly from a representative of myanmar's government, as well as ethnic minorities. in fact, this was the first time that a kachin representative briefed the council and he described the situation in myanmar as bordering on state collapse. he and other briefer described rising food and, ongoing violence, rapidly spreading coronavirus infections. while there were many calls for help from the international community, including an arms embargo and a no-fly zone, clearly not all councilmembers were on board. russia did not even participate in the meetings, saying myanmar's government with the help of countries in the region need to find their own political solution. >> i think we should not step in at this stage. we are against any drastic measures.

here is professor young again on what the u.k.hinking about as they reduce restrictions. >> we should listen to what is going on in wales and scotland, where gradual removal of restrictions is probably the best approach. the delta variant, as has been reported, it is happening in countries like israel, the netherlands. we thought that they wer without it, that they had vaccinated large portions of the population and in israel now they recognize how important it is to vaccinate youngsters. they have started a program to vaccinate all youngsters over the age of 12 and we know that the vaccine are highly effective and safe. it's a bit misleading as we think about these figures and hear about the number of adults doubling their jab, what's important is the overall level of the protective immunity in the total population. that something like 52% now total vaccinated in the population of the u.k. >> britney spears' fight to end her father's conservatorship is headed back to court and today could mark big changes in the case. her father