the u.k.teel industry. carter still is to close blast furnaces in port talbot with 3000 jobs to go. the union plan to save jobs has failed. what does it say about the green transition. a walkout in northern ireland, no government, no funding, no pay rises. is the standoff now a constitutional crisis? and is it the demand for cocaine here in europe that has turned ecuador into a war zone with the drug cartels? a very good evening. there appears to be a bleak future for steelmaking in the u.k. what sort of sector does it become? that is under discussion between unions representing the still unions of south wales and the bosses of the tata steelmaking company. we understand tata steel is to close both blast furnaces at its port talbot works with the loss of 3000 jobs. instead of blast furnaces, tata have a plan backed by the british government to invest in a greener arc furnace. reporter: forged by century of steelmaking, port talbert is dominated by one industry. the site sprawls over three mile

and u.k.ther countries needed to do something, or otherwise their redlines would mean nothing and that would be very dangerous, because it would mean that whatever the you because -- u.s. and u.k. say, militias and countries can disregard. they had to take action, and i think the houthis were very aware this was coming as well. rajini: we heard from president joe biden's remarks coming in saying that we will make sure we respond to the houthis if they continue what he describes as this outrageous behavior. where do you see things going? we are going to get more retaliations, i expect,nd if you read what president biden is saying, there will be more of a response as well. >> indeed. we can eect a tit-for-tat between the u.s., u.k. on one hand, and the houthis on the other hand. but the really perilous aspect is that the houthis will tell you even more on global shipping. until now they are stuck on vessels that they said interview israel. now the u.s. and u.k. are fair game as well. the houthis

and u.k. asset ins the red sea continued, that there would be consequences and this is what we have seen. >> it is not just a u.s. strike. the u.k. was a partner as well as several other countries. how important is that? >> well i think from the u.s. point of view, they would believe it does add legitimacy. the fact this is not them acting unilaterally. they do have the support of many other countries because it is many countries affected by these commercial sell sells targeted in the red sea. and the united security council resolution which condemned the houthi attacks in the red sea and said that they should stop. there were 11 countries voting in favor. four abstaining including russia an china. it showed there was widespread support for the condemnation. and that also would have likely given u.s. officials some sense of legitimacy. that this is something that they could carry out. it wasn't just the u.s. and the u.k., carrying this out as well. there was support from australia, bahrain, ca

u.k. chancellor, and the german finance minister. as we digest all those headlines, quick check on markets because it's a really interesting dynamic. you are seeing outperformance in europe. you're a stocks higher 0.3%, perhaps following that asian story, the ftse 100 higher by zero .2%. is this the readthrough you see from the overnight session in the united states, having a ripple effect around the world, or perhaps cashing in given that we had risk off sentiment in yesterday's session? nevertheless, s&p futures slightly modest, but again, the tech story is dominating on the other side of the atlantic. a quick check on the cross assets story because a lot of people are talking about what the federal reserve might be doing not just in march, which seems to be the pivot point a lot of folks are talking about, but specifically in january in terms of setting up that pivot. nevertheless, overnight a really in yields. -- rally in yields. you are seeing dollar strength come back and be a threat

and the u.k. because the u.k. has been involved in some of these u.s.-led strikes. capabilities have not been impacted and they are working to improve their military capabilities. no sign from the houthis that they are going to let up here. jon: the white house has been very careful in his language to try and focus the conversation on the disruption in the red sea as opposed to this being part of a larger tension in the middle east. of course we have seen different language from the houthis. i wonder how the white house is going to navigate further commentary on that front. kailey: they will certainly continue to be careful because you are right, on the one hand while they want protection for vessels in the red sea considering it is so important for trade, on the other they are trying to tread carefully and not escalate this into a broader regional conflict. keep in mind the houthis are an iranian proxy, backed by tehran. drawing into direct confrontation with iran is a much scarier proposition. n iran dismissed-- iran striking a militant group in pakistan. pakistan

, it is about seeing the u.k.is beacon, or a country that respects human rights. that is why they feel they will be welcomed, and they choose the u.k. sadly what we are finding is that is not the case with the way the government has pushed through, not just the rwanda plan, but the illegal migration act. what we would like is the government and politicians to return to this human rights obligation we have, and a refugee obligation we have. and just to offer a similar scheme as they have done to the ukrainians. samantha: labor says they wod get tough on the people smugglers themselves, treat them like terrorists. do you think that is a better solution? >> we don't think that is going to work. the problem is if you go after -- there is always going to be an alternati. people are so desperate. what you need to do is offer those safe routes to people. then they will not need to resort to smugglers, and having to pay amounts to get tohe u.k. or risk their lives in whatever ways they have to to get to the u.k. i think i

talk to us about how you view investment in the u.k. >> the u.k.an absolute critical market for us. we're soon going to be opening our first a.i. innovation hubs around the world we'll open 10. one is in london. that is a great sign about why it is really important to continue to invest and we absolutely are. we have done a few acquisitions already in the last few months and we believe it is a great market, great companies and terrific talent. kriti: some would argue that is an investment that doesn't have the longevity that perhaps some of the other markets around the world have. it is an economy still dealing with the cost of living crisis with a very interesting history of almost disweighed tech investment. what would you say to the critics of the folks that are saying those investments, those acquisitions you're talking about are not going to be worth it in 20 years time. >> well, let's look at the great companys that are in the u.k. we are working with some of the terrific banks who are investing to improve the experience of consumers for exam

government to build the u.k. -- new furnace.de unions feel like that should have gone to supporting much slower transition. >> they have the money to make 3000 people redundant. that is not a good way to spend taxpayer money. we have a plan which would have cost a few more hundred million but would have secure the majority of jobs here. >> it is not just at the works where the impact is being felt. for 13 years, this cafe has been feeding workers. tiffany fears they may be close within months. >> pretty bad to be honest. the people worrying about losing their job, not being able to fend for their family, losing houses, everything really. >> a place reinforced by one industry now feels fragile. it's fate decided by forces far beyond its control. >> to discuss the impact of job losses from these closures within tata, i am joined by a business consultant and ceo of redcliff advisory. she looks at how technology has changed the way we work. welcome to "the context." when you look at what has happened in the last one he four hours, t

the british foreign secretary says the u.k.ady to bring forward the moment when he formally recognizes a palestinian state. and we will talk to the wall street journal about their reports on evan gershkovich, who has been detained in russia for over 300 days. a very good evening. for the first time in nearly two years, it looks like northern ireland will have a devolved government and assembly up last night, there was a long meeting. the union's party that collapsed power-sharing, in 2022 in protest of the post brexit trading rules and checks they say. undermine northern ireland's place. he now believes they have the assurances they need from westminster to return to government with the nationalist. our island correspondent has this report. >> across northern ireland, people woke up to news of a political breakthrough that ha been nearly two years in the making. the lack of a functioning executive for so long has caused many issues for the lives of people. public sector workers on strike earlier this month overpay. unions help

-u.k.t we will not have a real damage assessment for a while and the houthi s have promised to retaliate in a big way. we know that they have gotten a lot of supplies over the past decade from iran. we do not know what kind of stockpiles they have that might survive this initial attack, so those are all of the big questions. it will be much more difficult to get fresh supplies into the houthi rebels with such an arm's presence in the red sea right now, and it will not be impossible. we will have to wait to see the extent to which of this is a setback to them of their efforts to disrupt the shipping of the red sea, but it is almost a foregone conclusion that that shipping is going to be increasingly routed in other ways for the time being. haidi: how much of a setback is this when it comes to the foreign policy efforts when it comes to the likes of the u.s. and the u.k., but the u.s. in particular? senator blinken was just in the region the last few days. it does this complicate an already c

and the u.k. and behind the u.s. and u.k. strike are at least two dozen other countries that are involved in this task force in the red sea and that signed that -- this statement warning the houthis. so i think this was the main point, to start this air strike after you have some sort of international support for it. and we also saw the security council resolution just yesterday condemning the houthis, calling them to stop those missile strikes. and now we saw those air strikes. and one interesting thing that i hear now from israeli officials is that they got an early notice from the u.s. about this operation in yemen, and now they are preparing for some sort of a retaliation from yemen against israel, not only against u.s. forces in the region. >> and barak, you just said two or three times there in that sentence a word we haven't said so far but at the core of this, general, right and that's izmism this is happening because of the conflict between israel and hamas in gaza. and yet you had america and the u.k. striking an ir

and u.k.oyers in the red sea shot down a barrage of drones and missiles that were launched by the iran-backed group. the government held an emergency cobra meeting thisorning along with a meeting of national security council. in washington, the national security spokesperson there, john kirby, said it cannot be allowed to continue. >> are there any red lines are steps of the u.s. would not take or would not be a part of that you can outline? >> no. >> do those red exist or do you not -- >> i don't think it is helpful from the podium to speculate about any potential future military options one way or another that the commander-in-chief is weighing or has weighed. we take seriously the responsibility to protect our ships and sailors at sea, as well as the responsibility to protect the flow of international commerce. you talked to leon brainard about how important that waterway is, vital. i would add we are not the only one. other nations are joining us in that effort. some 20 plus nations are jo

our u.k. correspondent lizzy burden is all over that story. keir starmer expected to give a speech today. lizzy: he will present himself as the candidate for change, saying britain is crying out after 14 years nearly of conservative rule, that is time for national renewal under labour. sunak will say it is a change from boris johnson and liz truss, still though he is 20 points, if not more behind labour in the polls, so he has a come to close. but if you listen in the labour camp, strategists are warning their own people, don't get complacent. they point to examples like donald trump's surprise victory in 2016 where the result the fight the polls. how is sunak going to hope to close that gap? on march 6:00, we get the spring budget, it is an early date which has set tongues wagging in westminster because many are now wondering whether we will have a may election. this will be an opportunity to lay traps for labour. but conservatives will want to make pledges that labour would find it hard not to match, but if they took them on, would find it d

u.k. time. also on the agenda, u.k.tgage approvals at a time where a number of high street banks are lowering their rates on mortgages. you are seeing a tick up in terms of the property sector in the u.k. for december. those mortgage approvals seen coming in at 53,000, up from november. we get a slew of euro area data. specifically, gdp data. we will break the french data in the next few minutes. that will come out throughout the day. the expectation is quarter on quarter will be flat across the euro zone. alphabet and microsoft both reporting earnings later today. we will look at the ai component of those earnings. french farmers use tractors to block roads around the capital as unions threaten a siege of >> good morning. this is bloomberg jay baker. these are the stories that that your agenda. more concern over the country's indented property sector. treasury yields extended clients as the u.s. makes a surprise cut as they ease worries about a flood of debt. we will bring you the latest reading on french gdp. let's lo

it is seen as a barometer of the u.k. consumer.e past nine months, they have raised guidance for both sales growth and profit on at least four occasions. if you look back over the past 12 months, the shares are up 40%. a shows you do not necessarily need rate cuts together business going in the u.k. next something of a barometer, as i say, for the u.k. consumer, so those results will be out tomorrow. kriti: lizzy burden all over that story. thank you for your analysis. and reporting. a big part of the story lizzy is talking by is the inflationary dynamic and what it means not just for the average consumer but businesses as well. do you start to see that same momentum that a lot of big tech companies like apple are actually showing? it does actually all connect. apple at the end of the day we think of as a big tech company. yesterday it took its biggest hit since september all on a barclays downgrade. this is a really important story because at its core, it's talking about this consumer ability to not just a for the bare necessities

u.k. struck yemen with missiles, there are still ships doing it. so some companies feel it is safe enough to continue with that journey. kriti: i want to ask greatly about some other regions seeing attacks. iran is also attacked iraq and syria as well, retaliation for deadly bombings earlier this month. what do we know in regards to that? is this simply a tit-for-tat, or should we be paying more attention? >> it is possibly just a tit-for-tat, but it is something markets will be looking at closely to see if there is escalation. iran has hinted that these targets were used by israeli intelligence services. these are facilities in northern iraq. we know that israel has in the past used parts of kurdish iraq for intelligence gathering on iran. it is the type of thing that is possibly escalatory, but we will have to watch and see. kriti: it's interesting we're talking about regional escalation one already of the united states and its allies seem to be fighting on multiple fronts already. paula

a similar picture to the u.k. because the doubts around the survey data in the labor market surveys. looking at the treasury action as well, run us through this bearish treasury option trade targeting the 10 year yield. >> very significant trade. a sickly that would imply after the payrolls report there would be a significant move out again in treasuries. we have seen a lot of that over the course of this week but it gives you an indication of the positioning. that has been a major factor over the course of this week. fewer people at their desks. very significant shift in positioning over the course of december and what you are now seeing is the retrenchment. what you may well see is that continue over the course of the rest of the month. there's nothing really to prevent that from happening. once we have the payrolls report you will be looking for every sort of piece of incremental data they can. lizzy: speaking of which, beyond today's jobs report we had a slew of u.s. economic data. talk us through the broader

it's only a few decades in the u.k. and other jurisdictions.e united states you may use anything from the first two films, "steamboat willie" and another film, lesser-known, called "plane crazy," and the versions of mickey and minnie mouse in those films. >> what are we likely to see them made from these characters? are there limits on what people can do with it? jennifer: there are a few limitations f mickey and minnie mouse appear in later still-copyrighted works. that is the first limitation. the second limitation is from a different body of law called trademark law. you cannot use the logo in a way that misleads consumers into thinking that your product comes from disney. you cannot make merchandise prominently featuring the early mickey mouse if disney makes and sells the same kind of merchandise, nor can you use steamboat willie as a logo in your film. you can make new creative works so long as it is clear to the public that it is your film and not coming from disney. it is like pandora's box. i can't wait to see what people do. i have so

u.k. time.rancine will bring you a live interview with the coin based ceo to discuss the future of crypto. a jampacked show live from davos today. let's go to germany where farmers are entering the second week of protests against diesel subsidy cuts. the disruption is piling -- piling misery on the chancellor's coalition. i am joined by our german correspondence. why is there so much public anger against the scholz government? >> if you are waking up in berlin today you are waking up to streets in berlin being occupied by farmers. there are tractors that are as far as the eye can see and truckers. and when you talk to people there are also nurses and last week we had the strike of train conductors. olaf scholz had a rough time at the end of last year and it is not getting any easier. this was a response to the hard actions taken to save the budget. there are more subsidies to the agricultural sector. the rubber hits the road quite literally. in germany there is some understanding for this protes

guy: u.k.getting crushed today. -- on inflation this morning but that is where the marketing is right now. she is tracking only moves. natalia? >> u.s. retail sales are moving the market today. data adjusted for inflation increased by six basis points. the blue line is exportation. it was expected to be at .4%. this indicates a strong holiday shopping season. clothing and accessories was the leader, up by 1.5%. it also tells me that maybe alix's back to shopping again. lots of concerns about inflation. investors adjusting expectations between rate cuts. odds for a march rate cut is 65%. it was 80% on friday. stocks down. yields up by 13 basis points. volatility has spikes. we see vicks at 9.4%. this is also the dollar story. the bloomberg dollar index is up by .3%. we are watching a story that is developing related to jetblue's potential acquisition of spirit. both stocks down. the federal judge declined the potential acquisition and said it would sleep competition and potentially increase pric

we had a u.k. minister say what more is a going to take for europe than a war in european soil for these countries to have a defense spending of 2%? sec. gen. stoltenberg: the good news is allies are investing more over the last two years. annmarie: was this a wake-up call? sec. gen. stoltenberg: absolutely. we made an important decision in 2014 when russia when it to an extra. -- went into crimea. since 2014, the allies have increased their defense spending substantially. after the full invasion in 2022 they started even more. the result is there are more allies spending 2% of gdp or even more on defense. we are at $450 billion extra u.s. dollars. they are investing in advanced weapon systems, f-35s, air defense systems to protect nato territory but also to continue to provide supplies to ukraine. annmarie: what is the ask specifically from zelenskyy? sec. gen. stoltenberg: ticket more -- to get more weapons and sustainment of those weapons. this is about deploying new batteries, air defense batte

and u.k. launched airstrikes over 60 targets in yemen after weeks of attacks on commercial ships in the red sea. they are now vowing more to, in retaliation. u.s. inflation jumped by more than expected, driven by services, it's a different story across the pacific as inflation in china continues to plague the markets. ecb president christine lagarde says the central bank will start cutting rates only once it's convinced inflation is headed back to its 2% goal. a lot of policy coming out. united states, ecb and asia. quick check on markets. we are seeing a notable outperformance right here in europe. euro stoxx 50 futures higher. ftse 100 on their heels. what's interesting is that given the geopolitical headlines, -- really crucial. 4807 on those s&p future contracts, down. let's go to the cross asset story. that's where we see more interesting dynamic. when you look at the bond market you are seeing a retreat from the 4% level. the 10 year yield is down, higher by one base point in the session

. >> u.k. -- u.k.ime trade, -- operations as a military vessel in the mediterranean sea was attacked, the 25th attack of a commercial trip since mid-november and that part of the world, theost of them happening in the red sea. houthi rebelseep attacking ships in solitary of what is happening in gaza and most shipping companies are avoiding that route, adopting to take a safer but longer way around, which takes roughly nine days more. consumersre warned that products could be delayed. carriers have already diverted to $1 million in trade over the last few weeks. katie wilson takes a look. reporter: the string of attacks on vessels by houthi rebs in the red sea means delays and increased shipping costs for businesses in the u.k. >> the difficulty is valentine's day is no good to a customer and consumer on february 15. reporter: on this map you can see the difference avoiding the red sea makes to the majority of goods coming to eope from asia. they use it to reach the suez canal, through which 30% of ship

and u.k. warships in the red sea. obviously this is fast unfolding situation and an incredibly volatile situation where we may see sort of a back and forth now that this -- these air strikes have been conducted by the u.s. and the u.k. u.s. officials are making clear that of course they are very much on the lookout to see how and in what ways the houthis may respond. again, we will get back to you with more reporting once we know exactly what the u.s. assessment of this claim from the houthis is. again, that claim is that they are launching -- have launched fresh attacks on u.s. and u.k. warships in the red sea, anderson. >> general clark, if that is the case -- and again that's just a statement made by the houthis. we don't have confirmation that this actually occurred. that's something that would pretty easily be monitored i would imagine by u.s. authorities. if u.s. authorities are in the midst of a strike against the houthis, i would imagine they are looking very carefully at what is being

and the u.k.is is also where you create a high risk of further escalation. >> the belief is that there hasn't yet been a leap in oil and gas prices, but everyone re can see a path to that outcome. the foreign ministers of the u.s., u.k., and iran will be here tomorrow. ukraine's president met global financers here today. multiple shadows over the world economy are yet to be resolved. bbc news in davos. >> the collapse of the islamic state in syria left thousands of women and children in several countries stranded in detention camps across the north of the country. many want to return to their countries of origin, but some governments including the u.s. and u.k. are reluctant. kyrgyzstan is one of the exceptions. the mountainous central asian country has repatriated at least 110 mothers and 229 children. the united nations says many of the women are often tricked or lured to going to syria. daniel wittenberg traveled to a reception center to hear from some of the women who made it home and claimed

-u.k. response to these attacks.euters is reporting that china is getting involved, citing four iranian sources. the report says officials from beijing have been asking iranian counterparts to help rein in the who these -- the houthis. the discussions took place in beijing and tehran. this is also a route that is used widely by ships from china, who are exporting to europe, and we know what's under pressure the chinese economy is under right now. beijing does have some leverage, too. they take 90% of the iranian crude that was exported last year. let's bring in a fellow for chinese politics at asia society policy instituteenter for china analysis. welcome to the program. it's really interesting, this, because we have been wholly focused on western companies, but a large part of the chinese economy is still dependent on exports, and they come on this route. >> that's true. it's certainly something that concerns international trade writ large, not just western countries. there are some reports, however, that the houthi

for the fact that the u.k. mortgage book, it's about a 1.6 trillion pound mortgage book, it's got an average are interest rate of 3.2% at the moment. some deals blies 4% for the first time in a long time. certainly since the mini budget of september, 2022. even if you're refinancing at 3.935%, you're coming off deals that won 2% pre-pandemic. you still have tightening. what we've seen is the incremental scale of that tightening has pulled back quite considerably since november. so i expect what we'll see in february, first of february, next monetary policy report, you see that quite considerable easing of financial conditions, passing through to a considerable upgrade in growth. bank of england saw zero growth for 2024. guy: how does that effect timing around policy? how does that -- why -- doesn't that just give them more time? they've had this easing in the system, doesn't it give them more time to push out, any rate cuts that are going to be delivered in order to maintain real tightness but with inflation co

u.k., it's always varies the marginal change relative to expectations? the u.k.sehold is probably going to be in a much better place because they were anticipating mortgage rates to stay at an elevated level, where is the u.s. and always has the ability to manage expectations. now the expectations for household debt is so much lower compared to six months ago in the u.k., i think that is where judging by the retailers and earnings reports, it is ok. alix: i still read stories about people to -- on the 30 year fixed asap. one of the questions of this week was 2024 geopolitical risk. u.s. election, what is happening in the red sea, ukraine, taiwan. i do you think about that in terms of hedging that typically doesn't work for market participants? >> i think that we have to look at the traditional asset classes . they are entering a phase of geopolitical risk where duration of the course of the year will perform well, so the u.s. treasury market will still be the safe haven of a choice and you come back in terms of liquidity and the like. we are looking at some quali

kriti: i think it will be a crucial litmus test not just to the u.k. economy, but is u.k.e same page as france or germany? lizzy burden walking us through that after we come off the holiday period, not really a start -- strong start to 2024 for the u.k. franz beckenbauer has died, he was 78. he was widely considered one of the best players in the history of soccer. he rose to fame by revolutionizing the role of central defender. ♪ kriti: welcome back to "daybreak: europe." also making news, openai has publicly addressed a lawsuit from the new york times in a wrongly worded blog post. they say the complaint is not telling the full story about its use of data from the times. the suit filed into super claims openai relied on copyrighted articles to train its cap gdp -- chat gpt bought. barclays says their headcount fell by $5,000 last year. they say they improved automation capabilities. they say they continue to selectively higher front office roles and key parts of their businesses. novartis has reported to be close to acquiring a company and an important drug. the market v

tesco, big number for the markets here in the u.k. senior analyst, thank you very much indeed. u.k.finishing near the lows of the day. a very quiet market today. looking for a clear catalyst. today certainly didn't deliver one. but the ftse underperforming, down by around .4%. coming up, u.s. politics. republican presidential hopefuls going head-to-head tonight. it's the last debate before the iowa caucuses. they start on monday. we're going to have the latest. this is bloomberg. ♪ guy: you're looking live at the principal room, s.e.c. commissioner joining bloomberg tv, 5:00 p.m. new york time. this is bloomberg. ♪ guy: so g.o.p. presidential hopefuls, ron desantis and nikki haley, going head-to-head tonight in a debate before the iowa caucuses next week. former president trump will not be taking to the stage, though he is still the clear front-runner. bloomberg's kay lines joins us now with the details. does tonight matter? >> well, for ron desantis and nikki haley, it certainly matters a great deal more, because right now the two of them are vying for second place essentially. of

the u.k. house sector hired today.gan stanley announcing a double upgrade for the stock even with uncertainty, the sector that this could be the market with the meaningful upside. that about wraps things up and we will deliver the final close of the day, ever. the european close will be next. ♪ 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-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh guy: i was hoping we could wrap this up with positive news. a big update, it turns out not to be the case. we come through to the final close. there will be a close on monday. not the most exciting finish. i was hoping for a crescendo, some fantastic piece of market action i could bring to you but we have been cruising a bit lower through most of the morning. we are down .3%. u.s. markets are having a better time. that largely appears to be d

now we know more abo what could be happening in the u.k.. sunak said the general election is likely to happen in the second half of this year. he did not rule out it happening earlier but said his working assumption is later this year. -- says he's squatting in downing street for months on end. our political editor, chris mason. >> rishi sunak, prime minister. >> mansfield and nottingham chef, a town conservatives want to hold onto at the general election. >> happy new year, how are you doing? >> the prime minister taking questions at a youth center and taking this crucial question from a reporter. >> it is a new year, is it also going to be a general election year? >> yes. my working assumption is we will have a general election in the second half of this year. i have a lot i want to get on with in the meantime. >> words that grab attention, say something, but commit to nothing. 150 miles away at, exactly the same time, we tell keya starmer what richie sumac has just said. >> the prime minister is now hinting without setting a date, but it

the u.k.has underperformed since 2 008. a couple of triggers for that -- tech stocks being on a rep and as having very few in the u.k. they are places for growth and innovation but they list in the u.s. the u.k. is not somewhere that companies like that are choosing to list, but it has led to this value discrepancy. i would not say it is across the board. it is a stock pickers market. it is one where we are going with actively managed funds, but there are great u.k. companies which have good balance sheets, lots of cash,. that has not been helped by brexit, let's just kindly send some of the political turmoil over the last couple of years. if you have been looking to allocate money here, you may be put off by downing street. but also, there is a systemic shift in things like the pension system, pension funds moving away from equities. money then flows out of the u.k. and becomes a smaller part of the mobile market. that exacerbates itself. katie: we have got to leave it there. appreciate your

and u.k.well as other allies watching airstrikes against houthi rebel targets in yemen. more retaliation for attacks on ships in the red sea which have been stymieing flows of goods as well as fuels through what is a global trade waterway. there we go. that is a look at those ev stocks as well. have a look at what's going on with regards to those. rishaad: -- david: this is on the back of the big news also, really to ours back now, out of tesla that they are cutting prices for the model three. by 5.9%. there we go. really in many ways underscores the capacity issues in that sector. rishaad: byd of course taking position as the number one in terms of ev sales. that is also perhaps mentioning -- perhaps worth mentioning, too. . japanese stocks in focus. the nikkei has paired its gains but it was going absolutely great guns. david: still is. we are still on track for the best day in nearly two years as we speak. who would have thought at the turn of the year we would be trading at 30 6000 on the

and u.k.hi rebels in yemen as the rebel groups continues to launch attacks on ships in the red sea. just today, antiballistic missiles were reported to be fired from houthi-controlled areas into international shipping lanes. they had previously said there would be consequences if the group did not stop. the houthis said if attacked they would respond by force. iran seized an oil taker and the gulf of oman and iranian state media said it was a retaliatory move after the u.s. sees the same vessel last year and allegedly stole iranian oil. armed men reportedly boarded the greek-unshipped and changed its course towards an iranian port. the u.s. condemned the seizure and called for the immediate release of the ship and its crew. let's talk more about this with our north america correspondent tom bateman. focus to the background. how did we get to this point of potential escalation? correspondent: well, the houthis had been starting to fire suicide drones, anti-ship ballistic and cruise miles in som

and u.k. impose sanctions on senior houthis as the military group continues attacks on vessels in the red sea. kriti: the united states and the u.k. have imposed sanctions on four senior who the -- senior houthi militants as the group continues attacks on vessels passing through the red sea. bloomberg's emea news director joins me. context is everything because the u.s. has not been friendly with the houthis for a long time. part of that in coalition with the saudi's. why now? >> they are concerned about weeks and weeks of attacks that the houthis have been carrying out on ships in the red sea disrupting shipping. everything from livestock to fresh produce to oil and gas tankers. container shipping, seeing a knock on effect across the globe with companies disrupted, real problems in the supply chain. the u.s. is concerned about that and leaning on the houthis to pull back their efforts in the red sea but also more broadly to de-escalate in the middle east. the question is what does this actual

if you look at submarine manufacturing that already is taking place in the u.k. and heavy industrial manufactung capability of australia, one of the greatest capabilies across the globe, we need utili that. that is the most effective way that we can counter and deter the chinese in their malign influence in e indo pacif, and i thk that is incredibly important and important to us too to make sure that the supplemental that is coming up, the 3.4 billion dollars in the pplemeal for the submarine indurial base gets through. that helps us, the united states partner with dollars that australia has commted to make sure we build the submarine industrial base, we build number of suppliers. we've been working out with australians building the submare industrial base there. we need know more in the united states. i think historically will look back on this and see that this is the tuing point where weill be able to with joint capalities amongst the three countries have that turning pointo deter encounter chinese aggressionn the indo pacific. >> let me just china in -- chime

the u.k.t week, in regards to the houthis is a terrorist organization, there is a carrot and stick because it takes 30 days to come into effect. the state department is saying, if you stop the attacks on shipping we will reconsider. >> they have another option. they do not go all the way. the trump administration had designated them a foreign terrorist organization. why do you tnk the biden administration has not taken that step. >> the trump administration in its final days of january 2021 slapped on the toughest form of terrorism texas nation on the houthis. the iran hawks in washington have wanted to punish the houthi s because of their strikes against the saudis and the u.s. golf allies. the trump administration put on two layers of terrorism designation. resident bidens administration within weeks reversed all that, basically because human rights and human to turn it group say this will prevent our ability to get in food and medicine in a war-torn country on the verge of famine because we

also in the program tonight, u.k.rs have met to consider how to clear the names of those wrongly convicted in the post office scandal. we speak to two victims still seeking compensation. alaska air canceled 140 flights today as more details emerged about a dramatic midair blowout on a boeing 737. and last off for the first american moon mission in 50 years. but after the textbook launch, th spacecraft is now running out of power, with the mission in severe jeopardy. a ry good evening. we start in the middle east with a number of developments to update you on. the first from lebanon, where hezbollah has confirmed one of its senior commanders was killed by an israeli drone strike. he was the deputy head of the group's force which managed many of the military operations in southern lebanon. in gaza, the fighting has intensified. in the last 24 hours israeli strikes have killed 249 palestinians, over 500 injured, according to gaza's health ministry. the international rescue committee says it has pulled its medics from the

and the u.k. should be prepared to pay a heavy price. >> todd: for overseas reaction here at home and taking to the streets in new york city and washington to condemn the strikes, alexandria hoff in washington with more, alexandria. >> todd and carley 100 position guided houthis in both land and sea with animal production facilities. the iranian-backed rebels launching systems and houthis air defense radar systems according to the u.s. air force command. president biden state of the strikes carried out in partnership with the u.k. and other countries since a clear message the u.s. will not tolerate hostile actors compromising personnel, safety and ending free navigation in the red sea. since october 19th, 130 attacks carried out against u.s. forces by iranian and syria. and there have been 27 ships attacked by houthis rebels a progression that is escalated since the israeli hamas war. the hostilities include antiship ballistic missiles. defense secretary lloyd austin ordered retaliatory strikes fr

and u.k.ry out joint strikes against who the targets in yemen for the second time in two weeks amid growing tensions in the middle east. ♪ welcome to "world is america." we are coming from concord, new hampshire, where voters are casting their ballots in the first primary of the 2024 presidential election season. it is a two-person race for the republican nomination between former president donald trump and former south carolina governor nikki haley after ron desantis dropped out of the race days ago. tonight's winner could seal the republican nomination. if donald trump pulls off a resounding victory, leaving nikki haley's campaign with an uphill climb. she has been hoping to pick up independent voters, painting herself as a moderate alternative to donald trump. mr. trump will be hoping for a repeat of his sweeping victory at the iowa caucuses last week. he is leading in the new hampshire polls by a wide margin. 57% to nikki haley's 38%. the candidates spent the day making their push to voter

robyn: you are talking to a u.k.-listed co, so i could not be more interested in u.k. plc. think we have held such an extraordinary position in financial markets and generally, so anything we can do to keep that shining i think is important. but competition is high. we shouldn't sit on our hands and think that all of our history is going to count for long if we don't keep running. i'm a great believer that we drive and continue to drive u.k. plc. there is such a lot of innovation and creativity growth, such a lot of expertise that sits on these small shores. anything we can do to keep that alive and keep it at its top game, i am all for. but we operate as a global organization and i'm going to go where there is strong capability to invest, with the markets are deeper, where the clients need us to the and where we can find opportunity, and i'm going to continue to look for that. but i'm a u.k.-listed co who can help want this to be great, too. francine: up next, robyn grew on being a female leader in an industry traditionally hope -- dominated by men. robyn: i'm hopeful we a

u.k.bbc news. let's take a quick look at some of the u.k. stories. the government has said it would not support royal mail scrapping deliveries on saturdays. this cou be one option put forward by the regulator in a review of future services. royal mile said it was not sustainable when only 7 billion are delivered. the nhs has launched a new campaign to encourage more people to get their children vaccinated against measles. cases are on the rise in new figures show more than 3 million children under the age of 16 have not received their jabs. areas with low uptake are being targeted first. u.k. households are on track for cheaper energy bills in april according to a new report by a leading forecaster. they say the and bill is expected to fall by around 16% for 300 pounds. energy prices have been a central factor in the u.k.'s high inflation rate. you are live with bbc news. in just the last half-hour, the house of lords delays ratifying the new rwanda treaty until kigali has made several ch

in the u.k.ldren suffering from leukemia are starting to be treated with a drug that is much kinder to their bodies than chemotherapy and can be administered at home. that is were a health reporter michelle roberts explains it means the children need to spend far less time in hospital. ♪ reporter: life is getting back to normal for this 11-year-old. he has been clear of cancer for almost a year now. he was one of the first children in the u.k. to try out a new type of cancer drug. it can replace big chunks of aggressive chemotherapy. >> the news came that actually there was still some residual cancer, so that particular chemo had not worked as expected. reporter: for arthur, it was the only real option to tackle his blood counts are -- blood cancer. >> you can see the pic line. on the right-hand side, that was separate at that point. reporter: all of the kit can be carried in a small bag. although he had to wear it day and night, it gave him back his freedom. doctors say it is a much kinder alter

in the middle east, the united states and u.k.hed new airstrikes against a houthi targets in the latest sign of escalating tensions in the region. there's a lot to digest in the last 24 hours. i want to go through what the markets are doing. we are seeing green on the screen when we talk about futures. euro stoxx 50 futures higher by a 10th of a percent. you are starting to see outperformance in the u.k. all the green on the screen in the last two trading sessions you have not seen a pullback. futures trading in the actual european trading session. 4881 when you look at those futures. a real element of momentum, of risk appetite. at least when it comes to the stock market. let's talk a little bit about monetary policy as we look around for a period wait for what the governor has to say. there will be repercussions around the world. i will start with the treasury market. for all nine, down by one basis point at the moment. here's what sticky. the fact that 4% seems to be the line in the sand. even though we see downward pressure in