all eyes on the u.k. recession data. we will bring it to you live as we break those numbers right here on bloomberg television. stick with us. much more ahead. this is bloomberg. ♪ kriti: the datapoint of the morning is going to be right here in the u.k.. third quarter gdp numbers coming out. is andrew bailey and his colleagues actually right? should be we -- be worried about a more substantial slowdown in the u.k.? some people going as far as to say that it's not just about a recession being on the horizon, we might already be in one. let's get the take out of morgan stanley. the u.k. economist joins me this morning. a pleasure to have you on the program. walk us through your take here. we've been wearing around -- about a recession for a long time. what is your recession call for the u.k.? morgan -- bruna: we are currently tracking a flat gdp. this morning, i'm expecting gdp to contract on the quarter. i'm expecting flatlining from thereon. the high chances that we end up in a technical recession. as of now, i don't ha

u.k. is headed for austerity. we bring you our exclusive interview with the british prime minister. >> spending in the u.k. is at very high levels. it has grown at very high levels even in real terms after the impact of deflation. any commentary or accusation that is what is happening is unfounded. kriti: israel and hamas looked to extend the temporary truce beyond today to allow for the release of more hostages and prisoners. joe biden backing the move saying allowing the delivery of critically needed aid to gaza. plus on the economic front record online black friday sales. shoppers spending almost $10 billion. we have crosscurrents from geopolitics to monetary policy. we will check how the markets are faring on this monday morning. you are seeing red across the screen here. lower risk sentiment. what is interesting, it is coming after the thanksgiving day holiday. i wonder how much light volume rally we saw last week is actually getting paired back today. perhaps in a little bit of cauti

u.k. prime minister rishi sunak speaks to bloomberg about his economic plans among strict proram.y of his taxcutting our top story. momentum building to extend the truce between israel and hamas beyond four days. president biden back to the prolonged cause for to allow for the delivery of more aid and the recovery of more hostages. let's get more from our white house reporter. give us an update on how the temporary cease-fire has gone so far and what we have seen in terms of the release of hostages and exchange of individuals. gregory: white house officials have been very cautious about getting their hopes up too much about the prospects for the cease-fire and the resulting release of hostages. but they are breathing a little sigh of today after some of the hostages were transported into israel. they include a four-year-old american girl that had been a top priority after her parents were murdered by hamas on october 7. she is now reuniting with her extended family and siblings in israel.

the u.k. have the ai summit as well. we have reporting on the ground from that today. a lot how the u.k. really approaches building out the tech complex in the u.k. we know it's been a significant touch point. they have lost major names to other parts of the world. i am thinking nvidia. how do you keep the ai story right here in the u.k. when, of course you are dealing with brexit, other crosscurrents as well? there's is a slew of attendees, a slew of interviews. tom mackenzie and lizzy burden attending that summit. get a roundup of the stories you need to know to get your day going in today's he edition of deibert. all you have to do is type in dayb go on the bloomberg terminal. you will get your latest update on israel as well. that's where i want to go next. u.s. secretary of state antony blinken is set to head back to israel this coming after dozens were reported killed and wounded at a gaza refugee camp, stoking concerns about the mounting tour as weeks of fighting go on. let's get more f

we just announced u.k. competing center which will help and funds like mother 10 and others -- balderston and others. this weekend we are providing access to 300 hackers, i guess the biggest hackathon tools free of charge to help them start getting on the scale and learning how to use these tools. i think things like that and deals with nvidia and the u.k. means entrepreneurs here can compete to lead in the field. ed: remember to invite us to your hackathons. how meta advertises to customers. details coming next. this is "bloomberg." ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-borde

the u.k. government is considering more powers for police.d include stopping people from climbing on statues and scaffolding during demonstrations. there were riots on saturday. war mail have been foiled offcom after what it called significant failures to meet its postal delivery failures in the past watchdog year. it had fallen short in the delivery of both first and second class mail. there are worrying signs that a growing number of doctors in the u.k. are planning to leave the health service due to burnout and diatisfaction. they say that attracting skilled doctors from overseas will remain crucial if the service can operate efficiently. despite the government launching a major plan to recruit more workers. you're live with "bbc news." let's return to events in the middle east. as the conflict in gaza enters its sixth week. the world health organization says the country's main hospital can no longer function. it has little power and is running low on food and water. the situation is described as dire and perilous. while hamas has a comman

the u.k.me minister warns that risks are too important to be left to the tech giants. ♪ hello to you. welcome to the program. we start with news that the israeli army says it has completely encircled gaza city, as the prime minister benjamin netanyahu said the height of battle had been reache. the idf said soldiers were engaged in close quarters combat with hamas fighters, staging hit and run attacks from underground tunnels. they said 130 hamas fighters had been killed in the latest battles. at least 18 israeli soldiers have been killed since the start of the ground offensive. israel's military says it is targeting hamas infrastructure, including tunnels and rocket launchers, and minimizing civilian deaths. but it follows another night of israeli airstrikes, all in retaliation for hamas' raid into southern israel on the seventh of october, in which israel says more than 1400 people were killed, with another 240 others kidnapped. israel's intense bob balmer's of gaza -- intense bombardments of

haidi: u.k. prime minister rishi sunak says he and dems heat -- he condemns anti-semitism in all forms speaking to francine lacqua in london. prime minister sunak: i don't scrutinize what every single person says that i interact with. of course, i up for anti-semitism. -- i abhor anti-semitism. it's not acceptable in our society and i have personally been very firm about that. it's very sad what is happening. francine: are you condemning elon musk? prime minister sunak: i condemn all anti-semitism, it's not about anyone personality. francine: he has a big platform. prime minister sunak: i condemn anti-semitism in all its forms. it does not matter if you are elon musk or somebody on the street shouting abuse at some buddy walking past you. that's wrong. anti-semitism in all forms is completely utterly wrong and we have strong laws to tackle hatred. some of the scenes we have seen have been unacceptable. the police know they should use of their power to justice. that is what we have been very clear

the u.k.he difficulty is then the balance of, do you keep rates higher to tackle inflation or do you start listening to those recession cues and you have to start cutting in order to boost the economy? guy: do you think the market has gone too far? the market is already anticipating rate cuts next year. is that something you would lean in on? he mentioned the fixed income investment earlier on. would you put -- would you be putting fixed -- investment into fixed income? emma: you are either going to be rewarded now for some pretty decent yields. if inflation does start to tell off, you are still being paid a real income. or yields come down and prices go up and you get rewarded with growth on the others. extinct, is a pretty attractive opportunity set right now. guy: nice to see it. thank you very much for stopping by. emma wall of hargreaves lansdown. president biden currently speaking on the issue of hostages, and the hostage deal he has been working on. he is speaking at an event at the whi

u.k. at 7:00 u.k. time, we get the cpi number. we are starting to see it easing in the united states. does the u.k. follow it in the coming time. we are also getting final readings of spanish and french inflation numbers as well, so that'll be crucial in terms of, is the eu on the same page as the fed? it is taking this inflation feed from around the world, the economic forecast as well as going to be crucial in terms of how the ecb is thinking about some of the economic data we have been getting lately. at 1:30 u.k. time, u.s. retail s well as home depot. we will also get an idea of what the u.s. consumer is thinking, not to mentor international exposure, all coming up at 1:30 p.m. u.k. time. we get a full wrap up of those stories in this edition of the daybreak terminal. just type in dayb on your terminal. this will be the main macro readthrough. does the green on-screen stick around? that will be the big question for investors around the world, so read the full analysis. coming up,

u.k. time, right back here to the u.k..s chief economist speaking on a panel called what is next for central banks. then back to the states later in the afternoon. central-bank bank speakers about what we're expecting. what is there consensus about the fomc? are they as hawkish as chairman powell would like? stick with us. this is bloomberg. ♪ ♪ kriti: going to get the latest batch of jobs data at the top of the hour. the unexpected -- the expected unemployment rate will hold steady at 4.2%. for more on this would bring in and from bloomberg economics. walk us through what you are looking at the data todayana: we are expecting -- today. ana: your expecting to see more evidence of that today and that will not happen in the headline rates which at this point is only experimental data because the labor force survey has been temporarily suspended. we do not expect to see that calling so evidently. so it holds at 4.2%. we are looking that signs of labor demand is easing in vacancies and payroll deployment. and then wage data and

will it last as we have cpi for the u.k. coming in the middle of the week. 1.22 sterling versus the dollar. if we are worried about a government shutdown, credit downgrading, does that mean we are in the peak for the dollar? at the moment it doesn't seem to have run out of steam. european equities moving higher, up .6%, bucking the trend we are seeing in the u.s. maybe playing catch with friday's rally on wall street. most sectors are moving higher this morning. finally, in germany, some hawkish talk from the ecb, talking about the idea that consumer price growth may pick up again temporarily. some saying it is premature to say we have reached the terminal rate or near cutting. even so, that is not what seemed to move yields higher in germany, the u.s. market. up one basis. for their part, there are some estimates from morgan stanley saying we should be around 1.8%. cut debate is not just alive in the u.s., it is also live in europe. kailey: that is true but it is very much alive here in the u.s., as all the different banks

u.k. time.so have the earnings numbers slowly's trickling out from hugo boss as well, the third quarter sales coming in at 1.0 3 billion euros, in line with estimates of 1.0 2 billion. they are even coming at 1.3 million, slightly higher than the estimate, confirming their full year outlook, so a slight margin growth when it comes to their ebitda. we will bring you more numbers and headlines but we will also be speaking to the cfo of hugo boss shortly. you will not want to miss that interview in seven minutes time. i want to go from the micro back to the macro because everyone cares about the margin pressure or margin growth, but we also care about the bond market, how much of the work is being done by the markets for the federal reserve. that is the commentary that changed the game when it came to how the fomc press conference was interpreted yesterday, the idea that pushed yields down almost 12 basis points on the idea that chairman powell and his colleagues are taking a dovish tilt after tack

that actually the u.k. economy will improve and you should be looking to the market at the smaller mid-caps that are exposed to that? but the u.k. is still suffering outflows from investors. there is still a huge valuation gap. there has been zero tech in the u.k. but also versus europe. it is an under loved market. something will have to happen for that to turnaround. sentiment is still weak. alix: let's get back in mid-january and see what happens. thanks a lot. coming up, more on our question of the day, does the buying spree continue? chris watling joins us next. this is bloomberg. ♪ >> i think we have seen the equity market remain resilient under higher interest rates that dynamic could continue into next year. i think the buying spree does continue. earnings have been better than anticipated but we do anticipate margin pressure next year. anticipating positive earnings growth. dani: jordan jackson speaking to us in the last hour. we were talking to him about our question of the day, whether or not the

in the u.k.said they are still working towards it but nothing is guaranteed. a swedish developer has walked away from the project in the u.k. in july citing high cost of inflation, supply chain problems. this industry is simply being a victim of an environment of high interest rates. alix: those projects are up and running. eventually those also reset and they should be resetting somewhat soon. do we know what that's can a look like? >> we don't know what what -- priscilla: we don't know it will look like now but the hope is they provide developers with higher support and will come in at higher prices which reflect inflation in the past five years in the u.s. and the u.k. as well and will reflect the high rates. >> this goes to who pays for the energy transition. everything we hear is governments at the end of the day. thank you so much for joining us. coming up from one nightmare to another. we work planning chapter 11 bankruptcy. we will get details in wall street week. this is bloomberg. ♪ ali

ben: u.k.ns to limit immigration hit a huge roadblock as the supreme court ruled that the government's flagship plan to send asylum-seekers to ramonda was unlawful -- to rwanada was unlawful. but the prime minister says he will find other ways to get the policy through and is willing to change u.k. law to do so. also, the latest from gaza where israeli, forces say they have found weapons of researching the largest hospital in the territory. we will speak to one of benjamin netanyahu's senior advisors. we will be live in san francisco, where u.s. president joe biden is meeting his chinese counterpart, xi jinping, for the first time in here for talks over military conflicts with drug trafficking, artificial intelligence, and trade. more on all of that coming up for you very shortly, but first, let's go to another story we are following within the last half-hour, news that five of labor's shadow ministers are said to leave keir starmer's team over his refusal to back a cease-fire in gaza. they hav

u.k.ime the latest consumer confidence reading. it is likely resumed the recovery from its 2022 lows but remains subdued by historical comparison. then at 1:30 london time we get uspc personal consumption expenditures. a third inflation gauge for the pedestrian. fed officials want to see sustained signs of cooling and finally at 7:00 p.m. u.k. time we get the fed's beige book. when you have data quality deteriorating as it always does around economic turning points this anecdotal evidence really all important. will this beige book change the outcome of the fomc's december meeting especially as we have been discussing on rate hikes in the labor market? the impact of that could be what we learn from this beige book. ultimately the question, the market is right to be priced to a soft landing. i want to get back to the geo politics. israel says hamas has turned over 12 more hostages to red cross. 10 israeli and two from thailand. they have accused each other of violating the deal. will the vio

the u.k.gn secretary. while there he met with you crane's president zelensky. he was appointed earl earlier ts week by the prime minister. he promised to provide military support for, as he said, however long it takes. the u.k. has provided ukraine with billions of dollars in military aid. the bbc's ukraine correspondent is in kyiv with more on lord cameron's visit. >> this was a surprise meeting. david cameron told president zelensky he wanted ukraine to be his first official visit and these are friendly soils, shall we say, for a british minister. why? the u.k. is seen as one of ukraine's staunches alleys and notably the former prime minister burials johnson, who was in -- boris johnson was in -- who was in charge during the russian invasion and supplied endless military aid to ukraine and i think that was why he referenced his successor boris johnson by saying we disagreed on many things but i think the support for ukraine he oversaw was one of the finest things he and his cabinet did. when

friday, u.k. retail sales. how is the u.k. consumer doing? getting the message that may be consumer is under pressure. cpi next week, really interesting in light of the gdp data we saw out of the u.k. kailey: a lot of data to look forward to. let's add a voice to this conversation. the u.k. has at least for now skirted a contraction. joining us is katharine neiss from pgim where she is the kise -- the chief economist. the data could have been worse, it could have been dead -- it could have been better. if a contraction was avoided, for how much longer can the contraction be avoided? katherine: the data came in line with what we were expecting. it confirms a weak picture for the u.k. economy. if we look underneath the headline data and the components, it is pointing at broad-based weakness, weakness with the british consumer and weakness in investment. that suggests we are going to see more of this weakness in coming quarters where the risk is that the weakness gathers pace. my base case is that things continue to move sideways from here. guy:

u.k. and the wider euro area. will the numbers give the ecb because to pause. far right leaders secures a dramatic win in the dutch elections, promising a referendum on leaving the eu that sent shockwaves through the region. happy thanksgiving if you are stateside. u.s. markets are closed today. here in europe they are open but volatility will be extremely low. it's likely to be a quiet one. the king at euro stocks, ftse futures are flat. it follows the s&p 500's gain yesterday of .4%. resuming this in time for the holiday. that index up around 8%. on track for its best month since july. something to be grateful for. u.s. futures are pretty flat as well. meanwhile, the dollar weakening today. got pop yesterday from jobless claims coming in lighter than expected. that survey showing higher inflation expectations. the dollar pairing those gains this morning off the back of the yuan leading, asian currencies higher because of the strong fixing from the pboc. we will get more on asian markets

garrett: the former head u.k.terrorism says braverman's actions risk turning the police into an arm of the state directed by politicians. >> although she may note ordering it, if a home secretary, and not just a home secretary, deputy prime minister, many other front bench people, come out and make comments about what should or should not be done before an operational decision is made, i'm afraid that is tantamount to effectively trying to direct the police. there are reasons why that should never happen. garrett: let's talk to our political correspondent. helen, take us inside the conversation within westminster. what are people saying in response to the last few hours? >> we have heard a bit more, not from the home secretary herself, but a source close to the home secretary. and there is a mark to of tone this evening. a source has said that she met the metropolitan police commissioner earlier, and he outlined plans to continue working to maintain public order during the protests tomorrow. but they said the home

u.k. prime minister rishi sunak denied his economic plans will push his country toward austerity. >> government spending in the u.k. right now is it a very high levels historically over this parliament. it has grown at all levels even after real term impact of inflation. any accusation that is happening is unfounded. yvonne: we will be talking a health care in southeast asia and speaking to the ayala health care ceo as the company opens the first cancer care hospital in the philippines. rishaad: the stars seem to be aligned today, volatility at levels we have not seen since january 2020 on the s&p. we have seen a lack of real data as well and also this really going on in the u.s. with the s&p said for the biggest monthly gain since the last century. we started off positively, but we have gone south again, and it is a feeling that risk assets were going to be in favor given what the vix was doing as well. the fear gauge falling to its lowest level in three years or thereabouts, s&p futures

u.k. time. will speak to merck ceo vincent clark on the back of the company's results this morning. markets today starts right now. this is bloomberg. ♪ the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. the idea that we have saved five million people's lives, it's overwhelming. it's everything. ♪ >> this is "bloomberg markets: today." i am tom mackenzie live in

the u.k. number comes in at 50.1. the u.k. continues to confound expectations. u.k. economy, despite the rapid rate rises we have seen, is proving to be much more resilient. does that mean inflation proves to be more resilient? that is the question the market is trying to figure out today. try to get answers to these questions. our correspondent joins me to deliver the answers. let's start with the eurozone numbers. the data are not getting much better. they are not getting much worse. what does that tell us? >> you can get reassurance that pmi's are not falling off a cliff. you could see growth is going to be extremely weak, if at all. we are not seen that continue to progress into something more sinister. what we don't want is a deep, sharp recession. we would be happy with no growth. that is what they want to see. today's pmi data showed that outlook is stabilizing in that direction. guy: u.k. data, markets seem to be sniffing potentially. the detail signals that this will be harder than anticipated. the bank of england may be cutting. jamie: no good news is bad n

guy: in the u.k.lation expectations have become more deanchored than other major economies do you think therefore the bank needs to deliver restrictive policy longer to make sure we do get down to 2300's and expectations are firmly reanchored? katharine: i think that is very possible. i mentioned services inflation around 7%. also nominal wage growth is running at close to 7%, maybe 8% depending on which data piece you look at, which is far higher than in the euro area or the u.s. so, before the bank of england and probably the other central banks do feel confident to start contemplating cuts they are going to want to see in the data baked in, not a forecast but baked in, a consistent decline in core inflation, a consistent decline in services inflation, and a consistent easing in nominal wage growth. that is all just magnified for the u.k. and underpin as it strong language from the governor and reflected in these drifting up inflation expectation figures we saw now they look to have come back a bit

u.k.ounces an agreement on how to manage the riskiest forms of artificial intelligence as it hosts a major ai safety summit. ♪ >> hello to you. welcome to the program. for the first time since the war between israel and hamas began, dozens of injured palestinians have been allowed to leave gaza via the rafah crossing into egypt. these pictures from egyptian media show what they say are the first foreign nationals to cross. palestinian and egyptian officials say at least 300 20 foreign passport holders have also crossed into egypt from southern gaza. the territory was besieged by israel after it was attacked over three weeks ago by hamas, which is classed as a terror organization by the u.k. and other western governments. in northern gaza, another large airstrike has hit a day after an israeli attack h dozens of people in the same refugee camp. there has been no comment from the israeli military, but it did say 15 of its soldiers have been killed in gaza over the last two days. our internat

rajini: the u.k. inquiry hears from two of boris johnson's closest advisers, who deliver a scathing assessment of how the covid crisis was handled. >> overall, widespread failure pockets of excellent people and pockets of excellent teams doing excellent work within an overall dysfunctional system. rajini: hello, i'm rajini vaidyanathan. welcome to "the daily global," but we bring you the world. israel has confirmed it hit the jabalia refugee camp in northern gaza. it says it was targeting and killed one of the hamas leaders responsible for the october 7 attacks. the hamas-run gazan health ministries has at least 50 people were killed with hundreds injured. the palestinian red crescent told this program at least 25 civilians were killed. before the war, the camp, made up of high-rise buildings, was home to more than 100,000 people, many of whom have been there for generations since the formation of the state of israel and 1948. bbc located the exact occasion of the blast. you can see it here, and you c

and u.k. for 20 years.ppetite for follow damage is zero unless the target is someone like osama bin laden. christian: quickly, there would have been a number of striking occasions that they had presented before they begin the conflict. if those are exhausted and we switched to dynamic targeting, does it become more dangerous to civilians? >> dynamic targeting is: time sensitive targeting. you get less time to commit to the collateral damage estimate, less of an opportunity to study it. therefore, they never targeting means decisions are made waving our, without the usual assessment of collateral damage. from experience, there is a disconnect between the value of life that they're putting on civilian casualties is the targets. but when it comes to dynamic and time sensitive targeting, it reduces that window of opportunity to assess the intelligence, the collateral damage estimate, and whether people are going to get injured. depending on the nure of the target, i do not see this getting better in the short t

u.k. last summer and the budget there. guy: let's take the u.s. 10 year. do people believe we could go back up to 5%? or are we done with that? denitsa: -- nour: i think the market is done and you can see that from the money market pricing. i think there is little that can deter them from thinking the fed will hike much more. guy: the issue around the bond market has been as much about fed hiking as the supply-side story. if we were to see problems emerging, could it send yields back higher? does the market believe that moment has passed? this stockmarket rally is premised on the idea that yields do come down, we do see not just cuts but yields reflecting those cuts. nour: that is a valuable question. there is not just the issue of supply, there is the issue of term premium which has gone down closer to zero. you have seen the likes of jpm say maybe it is too early to be as optimistic as we are and you have seen the ubs calling and expecting the bank of england to be the first to cut rates

u.k. time. i just want to come back to the u.k.will look at the consortium data that dropped overnight that shows that inflation is at a 17 month low. the six straight month of declines accompanied by a warning that this may not last. you sign unexpected drop in retail sales last month that suggest the bank of england's policy is hitting stores, which begs the question, when are the rate cuts coming. i'm sure it's a question we will put to the deputy governor of england, the money markets man of the boe when he's right here on bloomberg tv at 8:10 a.m. should be tasty conversation from the economic affairs committee criticizing the boe for being behind the curve on inflation partly because of lack of diversity of thought. that should be a tasty one. meanwhile for watchers of u.k. fiscal policy, the auspice of fiscal responsibility will testify in parliament later today. we should get more clues on the outlook for the u.k. economy. in politics and the u.k., sadly no meeting between the greek prime minister and richie sue not. that's

u.k.arliament treasury committee. we will get existing home sales for october, what does that do? what precedent does that set for the fed? at 4 p.m. u.k. time christine lagarde speaks in germany. similar question for ecb. at 7 p.m. u.k. time minutes from the fomc meeting. minutes will not normally be market moving but it is important to keep in mind if the market is right about dovish rhetoric or do they have it wrong? earnings are coming in after the close. full round up in the stories to get your day going in today's edition of the terminal. you will see the deep dive into stories we have covered specifically openai but also key central-bank speakers throughout the hour. coming up after the break we have an update from the middle east. hamas is close to a truce. reviving hopes of progress on negotiations. more next, this is bloomberg. ♪ ♪ kriti: welcome back. the chief of hamas says his group is close to a truce in talks with israel suggesting progress may be coming. joining us is sam i

gdp under the u.k. is interesting. u.k. economy has all the better than anticipated. figure out the data at the moment around the u.k. economy is a bigger challenge than everything else. but we are seeing inflation coming down. gdp has been more stable. is this a stagflation environment? allianz earnings as well. then we have numbers coming out of the luxury sector. the senior equity analyst to joining us to talk about the stocks, has a price target of 154 swiss francs. great to see you. the rest of the luxury sector has painted a reasonably cautious picture. is that what we get from richemont as well? >> i should think so, given that there generally quite bearish good but i would think that they should still continue to see deceleration in the developed market. however, chinese consumers should provide some offset that richemont is more exposed to the chinese consumer and more exposed to more affluent consumers. alix: what we've seen is the consumer part of china is pretty terrible. we saw consumer prices deflation yet again. i'm just wondering, are we going to hear

guy: u.k. budget is a theme today. we will get to that and just a moment let's talk about how the markets are performing in europe today. 457 we are not going anywhere and a hurry. it's a light volume week, a holiday week. with the inflation numbers but generally this market is switched off. let's talk about what is happening at the single stock level. you guys have nvidia and we have sage group. it is sage group? nai accounting company that is now using ai software more aggressively and starting to see benefits of that. you can see that in the guidance in the market, we do have a i stocks sage group up 13%. lvmh, luxury stocks were having a good time. what does that mean for the succession planning story? after raising the maximum age to which he can serve. but lvmh up 1.39%. kailey: there are a lot of people getting ready for black friday which is why volume is a little light. the s&p 500 up .33%. there are a few individual names creating quite a drag and one of them is nvidia, you have the strong guidance the topped

and u.k.e hill as well. >> thank you. so you mentioned toward the end of your remarks, maybe even woven throughout the relationship between the success of aukus and the work force, right? and so, how do you see more specifically aukus impacting the work force? do we have the capabilities and the capacity right now in the u.s., australia, u.k., to make the most of aukus? it sounds like we're not there yet. can you tell us more what we're going to do to build up the capacity and the capability in the work force? >> all three leaders when they met earlier this year, one of the things that was highlighted when they met in california was it was highlighted by all three countries leadership. work force development is a part of what we're going to be doing and a clear recognition, like i said, looking at aukus is so much more than just the submarines and emerging society and it's private cademia from all the countries. and we're working on the submarines and emerging technologies, we're going to need

that carryover in the u.k. despite any cultural differences. people in the u.k.ling mobile interfaces and they love getting the best possible economics on investing and other financial services. these two things have been the cornerstones of robinhood product design and development. we have a beautiful -- our customers love the beautiful, almost magical quality of the robinhood experience and appreciate the fact that they are getting industry-leading economics. when we talk to customers in the u.k., there's a lot of enthusiasm over bringing these things to this market. tom: has crypto bottomed? is it worth being in the crypto space being what happened with ftx? is it an opportunity for robinhood to take market share? vlad: in the long run it is certainly an opportunity and good for the industry to have unscrupulous actors weeded out and falling off. in order for the industry and technology to become truly globally accepted, there has to be a foundation of regulatory compliance. it has to be integrated more into the traditional financial system and help solve real

and u.k.th jewish voices for peace and many other organizations who are calling or fighting day and night for the liberation of the palestinian people, who are fighting against occupation peacefully. they can't be anti-semitic while they are jews. the smear campaign is fierce. they do not distinguish between the muslims, jewish, christian as long as we're pro-palestine, against occupation, then we are anti-semitic. that is absurd. i am very proud. all of us are very proud of the jewish community in the u.s. and u.k. who challenge the stereotypes or challenge the western media, challenge the misinformation about what is going on in palestine and israel and came out and said in one word that they are pro-justice, pro-peace, and they are with cease-fire now. as for biden, he says al-shifa hospital should be protected. i what to believe him but i don't think he is genuine. he is supporting israel. he has been aiding israel with money, with weaponry. he has doubled the money he gives to israel to b

is your and the u.k.ary course getting tighter every month, are they going to have a worse or a better recession? there's a lot of uncertainty in the markets. but let's separate the markets from the economy which is what the fed is primarily focused on along all the other central banks. when we look at the economy, the central banks are looking to achieve their inflation objectives, and when they are achieved, yes, they can start backing down. that's not to say that they are insensitive to the business cycle, but remember that all of the mandates are inflation first and i think that is what we should look to to drive policy and the new year. lisa: will cuts be stimulative for risk assets? >> i don't know. risk assets involve assessing risk, and that is half the equation. it is not all just about what the interest rate is. i think that rate cuts will make an easier environment for investors, that will put a lot of people in the market on more familiar territory. they will build confidence that the fed and

it was budget day in the u.k. chancellor said his tax giveaway which included 110 supply-side reforms is a bold plan for growth. certainly there was plenty to go on. 50 million over the next two years to increase the number of apprentices in engeering and key growth sectors. concierge service for large international investors, 500 million pounds over the next two years to find further innovation in ai, 2 billion for zero emission investments in the automotive sector, almost a billion for aerospace, half a billion for life-sciences, and a personal taxation, 2% cut in national insurance, which he hopes will help 27 million employees. joining me to discuss it all is the chief u.k. columnist for deutsche bank, and also with us is the cofounder and director of delta poll. thank you for being with us. i could start with you perhaps, look, there is a clamor out there for more spending and public services, but unless the economy grows and productivity increases, there will not be the money for those services, so what woul

the news today maybe u.k.ay already be in a recession, and it certainly has had a lot of inflation to contend with. i think what we like about the u.k. is it is a very global market, so the company is not necessarily dependent on u.k.'s fortunes as much as they are more locally, so it is a balanced market, not a heavy tech market, it does have a cyclical element, but it also has health care that can balance out and be more divisive. there is appeal, a structural consideration of what the u.k. market looks like. guy: i'm sitting in cash right now. i'm trying to work out whether or not i should take some of the cash and putting it to work in the market. are they going to be better opportunities, or is this it? marta: listen, i like short-term bonds, i like cash. you're getting yields you have not gotten in a long time, and that is a great place to be. our global often in -- our global opportunistic has a 5% in cash. longer-term yields, looking at the 10-year, above our field value -- fair value, and that has nev

are the u.k., for instance.om that perspective, the tibbett to the ecb, i'm not trying to say rate cuts are imminent, the we have a scenario in june 2024, that is arguably a very long wait, considerably -- considering where we are in the euro area, we are very advanced in our view. kriti: keeping a very close eye on the ecb, coming up with the next decision in about a months time, december 14, our european economist, thank you so much for your insight. she was talking about inflationary trends, but also bolstered by the global consumer. that's where i want to go next. it's not just the european consumer, it's the american consumer. a great proxy for that is walmart. a major retailer falling the most in more than a year in a u.s. session as it struck a concerned tone on the outlook for those american shoppers. simone foxman has more on their latest earnings report. >> ahead of the world's largest retailer hitting a sober note when talking about the u.s. consumer. walmart ceo doug millan saying the dreaded dword,

u.k. time, u.s.ome sales data for october closely watched, given home prices estate site hitting a record high. how much appetite is there really? we will find out. coming up after the break, we're going to look back at the life of former u.s. secretary of state henry kissinger, who has died at the age of 100. this is bloomberg. ♪ ♪ kriti: henry kissinger, the german born american diplomat, has died at 100. a child refugee who rose to become secretary of state and winning praise for his role in opening china to the west and bringing back dÉtente with the soviet union. kissinger passed away at home in connecticut yesterday. a look back at his life and legacy. >> henry kissinger rose to become secretary of state during the nixon and ford administrations. kissinger drove and defined american foreign policy during the 1970's, his strategies to end the vietnam war, contain the ussr and open china to the west. >> america has never been true to itself unless it meant something beyond itself. >> born in germ

we will have special coverage of u.k.'mn statement with the jeremy hunt speaking on bloomberg tv. you can catch that on the terminal and online. a major european story we are following, german chancellor olaf scholz set to be engaging in near nonstop negotiations to address the political turmoil after a shock budget ruling by the country's top court. i want to bring in a bloomberg's germany bureau chief. we have been watching this very closely. walk us through what we need to know in terms of this judgment call basically. christopher: yes, it is really hard to overestimate the potential impact of the bombshell ruling from last week. it basically called into question the practice of shifting basically billions of euros in funds from an off budget accounting into the federal budget. there are two major things that play here. one is the big question, will the current ruling coalition be able to sort that out within a matter of days? they have been meeting almost nonstop since the ruling was announced almost a week ago. at the

in an interview with bloomberg, the u.k.nister rishi sunak condemned all forms of anti-semitism. sunak is under pressure after sharing the stage with elon musk at the ai safety summit earlier this month. musk has been under fire for amplifying anti-semitic content on x. here is some of sunak's contents with bloomberg's francine lacqua. pm sunak: i don't tend to get in the business of scrutinizing what everything a person says. of course i abhor anti-semitism and we have been unequivocal from the start of this situation that that is not acceptable in our society. i have personally been very firm about that. it is very sad, what is happening. francine: but are you condemning elon musk? pm sunak: i condemn all anti-semitism. it is not about one personality. francine: but he has a big platform and a big voice. pm sunak: as i said, i condemn and that summit is a in all of its forms -- condemn anti-semitism in all its forms. anti-semitism in all its forms is completely and utterly wrong and we have strong laws in place to tackle r

and u.k., just like hamas is.aised the hamas attacks on the seventh of october, but did not call for all out war with israel. let's go back inside gaza. these are pictures of the fighting supplied by the idf, that is the israel defense forces. they say they now completely surround gaza city in the north and they say face-to-face battles have been taking place with hamas fighters. let's get up-to-date with this report from our international editor, jeremy bowen. it does start with those distressing images. >> around 4:00 this afternoon, many people were killed close to schieffer, gaza city's main hospital. the health ministry, controlled by hamas, said israel attacked a convoy of ambulances. thousands of civilians have been sheltering hoping it would be safer. israel says hamas has a command bunker under the hospital. more dead civilians along the street were only two roads south, where israel says civilians must go to be safe. the bbc has located the video to a stretch of road sev kilometers southwest of gaza city

for more, are u.k. correspondent lizzy burden on set. set the scene.did we learn over the weekend? >> chancellor hunt was on the airwaves after what was an absolute nightmare week for the government last week. as you say, this is one of the few set piece opportunities to close that poll come with labour before the general election, which rishi sunak has got to call by january 2025. he has a lot of balancing to do, so he is in a fiscally constrained position. people want to take credit for stabilizing the economy. they have already managed to halve inflation, which was one of the government's own targets before the end of the year, but still more than twice the bank of england's 2% target. still, he has not had room to maneuver. he will want to avoid the criticism that they are simply managing britain's decline. with an election looming, there are conservative mps clamoring for tax cuts. jeremy hunt says it's not going to happen overnight though he hasn't ruled anything out. he has got to get a lot out of this politically. a lot of political bank, not a

around the world and across the u.k. you are watching bbc news.'s take a look at other stores making headlines in the u.k.. a 33-year-old man found guilty of murdering schoolteacher ashley murphy in ireland last year. the central criminal court in dublin found he fatally assaulted ms. murphy while she was exercising on a canal pass. he wasn't found guilty following three weeks of -- was found guilty following three weeks of evidence. the nhs white list in england hit a record high. more than one million patients are on more than one waiting list. the overall waiting list hit a new high of 7.7 million at the end of september. the overall waiting list is at its highest point since records began in august 2007. a 14-year-old boy appeared in court charged with murder in leeds after a teenager was fatally stabbed near a school in the city. the 15-year-old alfie lewis was stabbed your saint margaret's primary school on tuesday. the former student later died in hospital. the charge boy was remanded in custody. you are live with bbc news. the islamic jiha

u.k.nd the euro area together in terms of curve movements, pretty similar sorts of numbers, the u.s. is quite a lot bigger. guy: there is a term premium in there. is there a danger that the u.s. curve stays elevated and we end up importing tighter monetary conditions as a result of that, when the economy may not be there. is this a gravitational effect between treasuries, yields and bonds and we may end up, because of that story, being too tight here? >> we have to factor that into our forecast. we will do that. that is why we are partly conditioned on a market curve. it gives us the ability to do that. we will obviously do that and adjust our judgment accordingly. guy: will there be a way of leaning in on that? can you adjust twist to alter the shape of the curve to deal with that imported financial condition? andrew: we've taken a strong position that we are not running qt to move the curve around. it would take a lot to move me from that position. i think, on the whole, -- my mom used t