themis themistocleous of ubs wealth management will be joining us. my greek pronunciation is usually really good. this is the conversation coming up next. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh guy: one year in. marking the beginning of the war between russia and ukraine. 12 months later we take stock of the impact on food and energy prices, inflation and the consequences for the european economy. >> russia invaded ukraine in the predawn hours of february 24, 2022. this after president vladimir putin spent months building up troops along the border. the attack sparked the biggest flow of refugees since world war ii, over 8 million ukrainians who fled the war, tens of thousands have died or been wounded amid unspeakable brutality. the impact extends far beyond the human tragedy. the fighting between two of the world's biggest food producers hampered exports from the region. together russia and ukrain

last week it was buybacks of the world united ubs.it was a bit of a disappointment they did not go harder and heavier on buybacks. it set the stage in terms of the buyback and dividend narrative. where is the musculature in that narrative for you? request good morning, thank you for having me. the capital return story will be a key thing for the european financials this year. expect dividends and buybacks to get above 20% of the market cap return. it will be a key driver for the sector. those companies, the management teams will be able to deliver on that topic. there will be the ones that perform. we see names like deutsche bank, they are waiting for the markets to clear before they give us more of that narrative. there is excess capital in the sector right now. it is all about the management teams delivering that. >> it is all about elevated operability. does your face a different challenge to them? >> european financials are a different stage. they have come into the game quietly. the u.s. financials have already been there. they h

joining us is the head of emea capital markets at ubs.here is a number of things we need to look at when you look at the strength of equities in europe. year-to-date, they are 10% higher, what is the main driver? gareth: the fundamental driver is positioning. we came into this year with concerns on the investor side. we were underweight and the market as a whole had only took marginal gains. on the reopening story. and we have seen sales squeezed higher which is investors forced to bite into price action but lacking conviction. francine: what we need for them to have more conviction? we are looking at interest rates and the path forward for the fed. gareth: if you look backwards, central bank todaye saw. the question for investors is where is the terminal rate in the u.s.? that allows them to price equities. francine: with all of the leverage in markets and balance sheets, i am surprised that companies are fine with reporting earnings. gareth: there is a benefit with inflation with earnings being in nominal terms. that is supported. for m

in recession later this year. >> kiran, thank you for joining us stra strategist from ubs. >>> let'sk at wall street and how it ended the week on friday a mixed bag. the dow managed to eek out gains. up .40%. you can see the nasdaq ended the session down .60%. s&p down .30%. this on concerns that the hot inflation data that came out last week and cpi and ppi and jobs report the week before all will cause the fed to take a restrictive approach on future rate hikes that is not a positive for the sector as we saw in some of the price action on friday today, u.s. markets are closed for holiday. investors will wait for the fed's meeting minutes due on wednesday. recent comments from fed officials suggest there could be rate hikes this spring after inflation came in higher than expected last week the fed will pay attention to the expenses price index the pce index. a mouthful to say when you read it the fed's favored inflation is expected to rise by 0.5% month on month the biggest gain in five months. if that does happen, it would just be yet another data point showing that inflation in th

gerry flower ubs will join us next with his take. this is bloomberg. ♪ guy: are the hawks on the hunt? it seems to be the case in europe, we heard from holzmann and mann making sure market is listening to their points. rates have to go higher from here. this follows the big moves we saw last week when european bonds cut a massive bedpost the ecb meeting. joining us now is gerry fowler. nice to see you, have not seen you for a long time. fantastic to see you back in the studio. let us talk about where we are with european equities. they have come a long way quickly, i think friday we hit a bull market in the stoxx. amazing performance off the lows at the back end of last year. the ecb is banging away at the idea it is going to hike and continue to hike and continue to hike after that. are those two thoughts on the same page? if not, where is the gap? gerry: the gap is the central banks are focused on the policy designed to bring down economic demand, that should eventually impact earnings. that is much harder to analyze, particularly

calderÓir a remiten a sanciones en su contra para fin de aÑo el costo de ir al cine dependerÁ de la ubel pr presidente joe biden hablamos presidente joe biden hablamos con Él (comerciales hola amante del café cargado. oscuro como la noche. presentamos el café más oscuro que hayas visto. hecho como debe de ser. suena bien, pero sabe mejor. dunkin' midnight. américa se mueve con dunkin'. la mejor manera de comenzar el día es en familia. con un buen desayuno d de jimmy dean.. que es rico en proteínas y esta listo en solo dos minutos. para echarte a andar el cuerpo. mmm. encuentra los desayunos de jimmy dean en la sección de congelados. hoy es tu día para brillar. conÉctate con un experto bilingÜe quien los hagÁ por ti. asÍ puedes hacer... no taxes. hola al hoyo ¿por qué los dermatólogos de tod por eundo recomiendan la roche-posay? cuida tu piel con la loción hidratante facial “la roche-posay double repair face moisturizer” con su doble acción que ayuda a reparar la barrera de la piel y proporciona 48 horas de hidratación para lucir una piel saludable. nos pusimopactado con els en el de mÉ

claudia panseri from ubs switzerland . coming up we focus on adani's $100 billion work it wipe out an sentiment in india. that is next. ♪ francine: welcome back to the open everyone. 14 minutes until the european trading day. we are seeing pressure across the board with the stoxx europe down. it is one of technology that disappointed amazon, apple, and alphabet as well. there is nervousness about valuation in technology that if you are not cost-cutting in that space, you may be in trouble with shareholders. adani's more than $100 billion crisis shakes investors faith in india. that is today's big tech story which says hindenburg's attack on the conglomerate rates big -- raises bigger questions about its credibility with global investors. now is her senior editor. what is the latest on adani and now we sing a risk spreading -- seeing a risk spiting to others? >> that has been a record wipeout of wealth. many adani company shares are trading at very very high multiple -- multiples. flagship is still trading at over hundred t

ub is— happening in the area is that all of the ub is moving north into turkey and turkey— the ub isey is being pushed out west in turkey— and turkey is being pushed out west in turkey is— and turkey is being pushed out west in turkey is being bordered by the north_ in turkey is being bordered by the north anatolian fault and i've been studying _ north anatolian fault and i've been studying the east anatolian fault in this earthquake is on the east anatolian— this earthquake is on the east anatolian fault which has not had a large _ anatolian fault which has not had a large earthquake for quite a while and lease — large earthquake for quite a while and lease strain has been building up and lease strain has been building up on _ and lease strain has been building up on finding a gateway and this is a very— up on finding a gateway and this is a very large — up on finding a gateway and this is a very large earthquake for this kind of— a very large earthquake for this kind of sliding strike — slip earthquake. kind of sliding strike - slip earthquake.— kind of sliding strike - slip earthq

ubs writing, quote, we see downside first quarter outlook rest across the online ad space, especially at pinterest, and we expect meta to guide first quarter below consensus revenues but meta should see less pressure from brand ad struggles. mark mahaney estimates that meta's revenue is 75% from direct response, compared to snap, that has 50% from direct response and 50% from brand. guys >> julia, by category within google, alphabet, does this potentially point to difficulty for youtube? >> so the thing is that this might point to difficulty for youtube, but you also have to remember that google has search, which is the most valuable type of direct response advertising, because people are searching for things and they sort of inherently have interest in clicking through and buying them that's a category that will be protecting google. youtube has been working on having more direct response there, but among the different ways that google is exposed to advertising, youtube would have more brand advertising there, because it is a great place for a tv-type advertisements, but there is the

even as the balloon came over the southeastern part of the ubs united states, we were monitoring it very, very carefully to see what the chinese were picking up and not. i think we are going to learn a lot. how much -- i think he can talk about that he listened to the military. by the way, had he not listened to the military do you think those same republicans would have said he was premature. he should have listened to the military. i bet some would have. in any case -- i think that he will show why he did it. i don't think we'll get the details until we have our classified briefing on thursday. by the way, that briefing was going to be the gang of eight. but lots of members wanted it. they are entitled to it. i requested that it be expanded to the whole senate. and the administration agreed. yes. reporter: wondering if there is bipartisan support on both sides of the capitol for permitting reform. are you hoping president biden calls on congress to take the issue -- mr. schumer: i don't know if he'll call for it. it's something we need. the permitting reform will make it easier to impl

ubs says a soft landing for the us economy very much on the table, but we could have a hard landing recession induced by two or more additional fed rate hikes. a no landing scenario is where inflation remains hot and stocks are vulnerable. wells fargo sees market turbulence, northern trust, don't now anyone plays these things, northern trust, evaluation head wind and inflationary and deflationary crosscurrents. i have a windshield when i do this much, you got to be careful. i want to break it down for you in simple aeronautical terms, some parts of the economy are cooling down but -- is this upside down? not services, rate hikes are taking a toll but 95% of us mortgages have fixed interest rates. a lot of us customers are okay right now. basically you have to keep your flaps down and trade tables that. be of a recommends four etfs for proper diversification. invesco s&p, equal weight, vanguard small-cap value and the cow dividend, callsign on the last one, grover, cuckoo in fake pilot language. >> is that a chinese spy plane? >> i can't show you that, we will talk after the show. >> tom cruis

chief japan economist at ubs.omes to betting on companies lenders, this as we are expecting the new central bank leadership to perhaps boost the sector, battered by several years of negative interest rates . our senior asia stocks reporter joins us. stocks are reacting to that potential ueda nomination. hideyuki: good morning. part of this is the reaction after the market learned earlier last week that amamiya has been approached by the government for the top job at the bank of japan , and so obviously, many investors were expecting amamiya to be nominated, and suddenly they named ueda, so there was a knee-jerk reaction. but if you look at the outlook, no matter who will be at the top of the boj, it seems almost inevitable that the boj has to normalize some part of its policy. people are expecting interest rates to go higher down the road, even though they are not really sure of the pace, or the extent of policy normalization. another thing that seems to be getting some attention is the regulatory policy. when we

>>ubbed the indy mothers, the group have enjoyed a renaissance.hat is thanks to the unique brand of islamic music which deals with serious topics like nuclear destruction and human rights using a lighter touch. >> talking about islamic songs, it might be the only one that dares to use such woody lyrics. islamic songs are usually serious with lyrics carefully quoting islamic teachings. >> despite their growing popularity, the purpose of their music remains unchanged. >> knowing the youth are listening to it, we hope our songs can touch the hearts and change them toward the better. >> the success a credit to their talent and a reminder rock music and religion can harmonize. >> a quick reminder of our top story today. ian mar has marked the second anniversary of a military coup paired the overthrow of the elected government derailed a decade of reform. protesters have been staging a silent strike in major cities leaving streets empty, shops closed. you are watching dw news from berlin. there is always our website. don't leave us for now because in a

ubs said that walmart's decision to raise the starting wage to $14 from $12 is also going to be about billion dollars in extra costs. if we do end up in a recession and unemployment rises, that is different. but for now, the picture for the labor market is pretty tight. >> and for companies who have a pretty generally good handle on navigating consumer trends, to have reports where the outlooks were poorly received, what does that say about the outlook for retail? >> it speaks to the uncertainty. if you look at walmart, there are two big messages -- the fourth quarter results were excellent, very robust, business doing great. but their unwillingness to come out with a stronger outlook certainly speaks to all the uncertainty out there. was going to happen with the fed, with higher interest rates, the future for the economy. there are already signs of weakening in consumer spending and consumer sentiment. then for home depot i think you have all of that but you also have the question about what is going to be happening in the housing market. obviously home sales coming down. home depot

♪ ♪ del toro: stay up-to-date on america reframed at worldchnel. or subscre to wld channel's yout ubemake rs. tell us what you think using #americarefram ed. majo r funding for america reframed was provided by the john d. and catherine t. macarthur foundati on wyncote foundati on the corporation for public broadcast ing. ditionalundingor amica reframedprovided by open siety fouations acton family giv ing, park foundat ion, the national endowment for the ar ts and the reva and david logan foundati on. ♪ ♪ sol: when we capture stories that are in our line ageorn our counity, we have much better unrstandinof who w are. and think that 's the oy way 've surved as humans , li we telstor ie ♪ ♪ myame is s g uy. i'm e direct of the deatof my twfath er myyou knowbackgrou is a mixed race. my paren are botameric ans. m from utate nework, e's bornew ish.father fm kansasity, missou, a blk mabut i ew up a sll tow inritish cumbia,an ada, lled gra for . very sma community not verse inwhat wwod y traditional ways now but diverse in, in experie nce and in kind of the way that ople wan d tocare f eacot

and these become the sources that we use at sea ubs. similarly, ukraine's domestic combined capacity is quite well developed. so whether the governmental, academic or civil society level and as we've heard from his last release just now is not a public advocacy for me, creating government over the war, the environmental dimensions. so all of those 4 sort of factors also sitting on top of the great international public concern over the environment, where is climate change or by diversity loss or pollution? so you collect this data and then what do you do with it? so we use open source intelligence to remotely monitor the environmental dimensions of the invasion. so we use social media platforms like telegram to identify instance and with a new satellite, remote sensing to verify that they took place and what the implications might be. so with this approach, with an able to undertake an initial analysis of the risk to human health for to ecosystems. so the data that we're collecting and the process of doing it is supported by the united nations environment program spot to its response

>>ub bba!ugs eot 8:44 p.m. on e keelisma >> were you, in fact, at the kennels at 8:44 p.m. othe ght >> i was. >> did you lie to them by ll r eptethose lies on his rar:ia, urdabl led by an opioid addiction and his distrust of state investigators.do reason. and i lied about being down there. and i'm so sorry that i did. >> reporter: apologizing to his family, repeatedly referring to his wife and son by their nicknames. >> most of all, i'm sorry to an. intentionly do yt >> once i lied, i continue to lie. yes, sir. >> why? >> you know -- oh, what a tangled web we weave. >> reporter: after paul shot that video at 8:44, murdaugh claims he went up to the house, dozeon cheth, ch roughly 20-minute window prosecutors believe he used to kill his wife and son, clean up, and leave the property. he claims he found the bodies when he got home, breaking down as he recalled that moment. >> i was on the phone with 911, and i was trying to tend to paul-paul. i was trying to tend to maggie. >> reporter: his surviving son buster putting his head in his hands. his brother wiping away tears. and

jacobi danco comes out as gay. europe's 1st active top tier player to open up about is homosexuality, ubs to pave the way or a more inclusive court. like everybody else. i also want to live my life in freedom with fierce bridge a while and over law. i'm almost social and i no longer wants to hide myself the welcome to the show. for months there had been speculation about russia preparing a fresh offensive an eastern ukraine. now it seems like the renewed onslaught is already underway. as green faces intensified attacks, its allies are meeting again to coordinate further support for keith. nato members and other allies of ukraine are gathered and brussels for talks and providing more weapons to the war torn country. at the moment, ukraine is on the back foot on parts of the eastern front, at least with russia, claiming success around the city of. but most of the experts say a russian victory in buffalo would not have a strategic impact on the war. keith has fought tooth and nail to keep it. the battle for the city has become an example of why ukraine means newer, better weapons techs are a

beginning a new era of accountability and transparent, desantis could appoint five board members to ubt. disney had control since 1967. the company gets tax break as part of agreement with the sunshine state. the new legislation would force disney to repay $700 million in debt, along with taxes. desantis and disney have been at odds since last year. the republican is not the only one criticizing the woke agenda. viewers criticizing the series "the proud family" for latest episode seen as anti-white, watch. >> slaves built this country >> and we have earned repairation for their suffering and continue to every moment we spend submerged in white supremacy. >> america was founded with and has not atoned for. >> todd: and they pulled an episode of simpson off their platform. disney pulled a different episode involving reedy creek will be voted on later this week. back to you. >> steve: thank you. good news for people of florida and particularly those two counties involving the 35 square miles that is reedy creek right now, they are not on the hook for the tax benefit, which was going to be

ubs said they are looking for a better outlook for the euro zone, raising the forecast for 2023. individual behind the report. thank you for joining us. we appreciate it. what are you expecting for tomorrow's numbers report? i appreciate they are back -- backward looking, but that will set us up for this year. >> we expect a growth rate of 0.1%. the per lemon area data for the fourth quarter was already reported two weeks ago with these numbers, -- p data for the fourth quarter was already reported two weeks ago with these numbers. this means modest growth toward the end of last year, which is not great but better than what we expected. dani: how much does the better growth outlook potentially force a policy ever from the ecb if it means it can be more aggressive? is that a risk? reinhard: it will give the ecb more confidence to pull through its monetary policy tightening. the broader issue is while inflation numbers have peaked they will become lower over the next couple quarters but the ecb wants to see a fundamental improvement in the underlying inflation environment, so infla

we have seen upgrades on the street around the calls for the core pce metric from goldman sachs and ubs your eye on that as well. manus: well let's see. as you say, all shook up across the curve. valerie tytel for the latest on the macro. bloomberg markets is up next. i leave you with that thought. waiting for a hot button print on the pce. meantime, fomc minutes could shake things up. ♪ anna:

trusted shopping sites, you are not going to find a clutch for 10 dollars legitimately, use sites you can ube for you use your credit card not debit card your creditor has much better protection in case something goes wrong than debit card if crook gets your detained can wipe out bank account stick with credit card shopping online the tip of the morning. >> you would think more protection on debit card attached to checking account. dan: you have similar protections the problem they can wipe other your bank account potentially get to other accounts you and i have all things now looked into bank accounts; right? to avoid that nightmare in entirety i council folks use credit card a good credit card something goes wrong give them a call credit card company will deal with it. maria: skw brandon jump in? brandon: how many scams acreage on. s volatile versus abroad if in india has a huge problem with this a lot more difficult for our law enforcement go in advocate, get things. dan: a great question north korea has cottage industry former states business booming for scammers, you mentioned india tha

manus: standard chartered is under pressure at $1 billion and they payout, and ubs at $5 billion. i think the proceeds from canada are $5.7 billion. tom, thank you for being with me on hsbc. coming up on the show, traders looking ahead to the release of the pce inflator and fed minutes this week on clues for what is the fed's next move. ♪ introducing the new sleep number climate360 smart bed. only smart bed in the world that actively cools, warms, and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number. >> we have seen some higher inflation numbers for january. i don't necessarily think that breaks the trend toward disinflation but i think it reinforces the idea that the fed still has work to do, and so we think another 75 basis points from here with no cuts until 2024 seems like a more likely outcome. manus: the goldman sachs chief economist speaking to bloomberg tv about his thoughts on rates and where they are heading. three more clips of 25 basis points. my next guest is with me. tha

. >> hot topics joe concha james freeman also here for the rest of the program former new york ub gubernatorial candidate congressman lee zeldin thank you so much for being here your reaction to the state of the union. >> doesn't move needle a victory giving state of the union address when people who are detractors say i think scored on this point or that point. people who are independent undivided open minded are tuning in, i think the type of speech that he delivered is one where, if you are a big biden fan, you watched, there is a lot to love. if you are a dee tractor plenty to hate if you are in the middle probable watching something else, turned off early i think the style of delivery where yelling when he should not be yelling speaking too fast stumbling on words not deliver that makes you want to watch more, this is first time last night that i was watching state of the union address woult inside chamber one thing different for watching at home is that no matter who you are republican, democrat independent, conservative moderate liberal doesn't matt truly great american if you love this

will make an announcement tomorrow credit suisse is moving along nicely today up 2 points we rebounded ubs is up .50% let's talk about standard charter. it is the one p we have been talking about. the bank profit jumped 28% this year the ceo bill winters said it was a strong period overall. >> a bumpy road out of covid, but we made steady progress. good growth for the year up 15%. we managed to keep costs under control. still somewhat below what we expect to be normal through economic cycle that has allowed us to post really good profit growth and announce a return of $1 billion to shareholders through buybacks >> the earnings parade continues and we have reporters behind me across the continent covering the numbers. charlotte is in paris on renault's full year results. let's kickoff in switzerland where julianna is looking at nestle the staple is price pressure with higher energy costs >> reporter: spot on, joumanna that is all what 2022 numbers show nestle is facing a cost inflation and it is eating into the margin for 2022, 8.3% growth which was driven by price hikes of 8.2% p. volume i

and the nasdaq is slightly higher as well art cashin, ubs director of floor operations joins us now.to speak with you, especially on a day like today, given the cpi reading we got this morning your thoughts on that and what we've seen in terms of stock reaction so far today. because we did have that revision slightly higher with the inflation data going back three months before this morning's read and then the read today, either in line or even a little hotter depending on which data point you're looking at. >> yeah. i think the other thing you have to think about, morgan, they also made some adjustments to the index itself, the cpi index, they underweighted some things that had different weights before, it certainly comes with an asterisk. i don't think anybody was ready to take it at full face. you're seeing that, you saw a whipsaw in the market right around the opening when the data came out, and then where now the market is taking its own temperature and pulse, even as we speak there's some resistance in the s&p up around 4160, 65, and i'm going to be watching to see on any weakn

ubs has cut the rating to neutral, saying there is more competition and that is going to hurt their profitsno other big catalyst. moving onto real estate, swiss prime, they are also taking a knock, analyst over at baader, saying -- ending with brent here, the chemicals group. gets another upgrade from citi, who says they like those earning numbers. there are further gains to go from here. those shares up 3.6%. this is bloomberg. ♪ when covid hit, we had some challenges. i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us. learn more at getrefunds.com. >> stocks just a few moments away from finishing up the trading day here in europe. despite resilient u.s. stocks, they are weaker. we are able to hold onto gains here in europe. perhaps it is a matter of yields not moving as much as in the u.s., and that allows equity traders to perform. most regions ending in the green. some luxury goods, i will get into that in just a bit. those are up about 1.3%. dax also up nearly 1% as well. those seem to be the standouts, some variations among th

investors not signing on after ubs downgraded shares from neutral a cell, investment bank warning theny's announcements workforce reduction suggests a negative demand signal for fiscal 2024. growth stock is selling off to the tune of 8%. shares by the way via electronic signature company takes 46% over the past 12 months. traders toasting after the beer brewer reported fourth-quarter adjusted prophet that beat expectations the maker of miller light, blue moon, course expects sales to increase in the low single digit of the train in 2023. that's good for three and a third stock. investors are slamming the brakes on auto nation after jp morgan downgraded the stock from neutral to underweight. here's what analysts say, tiny bit of a head scratcher, the car dealer is starting to look over valued after a solid performance during the pandemic. okay, if a ratio of six is overvalued, the florida-based company searched 36% so far this year end 60% 2021 but analysts feel a whole sector start to pull back as consumers grappled with higher inflation and higher interest rates, auto nation down sev

release or about to be released, but and now the reason that rest of the report is not going to be ub is still ongoing in the state of georgia. now that the grand jury has made the findings, another grand jury will come in to decide on the potential charges with the district attorney, and expectation down the road that the rest of the report could be made public. jim and erica. >> goodness. we will see what the evidence is if we can, kaitlan poland, thank you. >>> and now, the government is giving ron desantis millions of dollars to expand the migrant relocation plan, and it would allow desantis to pick up migrants from texas, florida rather, to margaret ben, or steve rather, and so what does this measure mean? >> well, erica, there is a key new measure that is going to allow desantis to allow him to take migrants from anywhere in the country to anywhere in the country, and the reason this is important is because it was desantis taking the government illegals from one stay law to another. and now there was a question whether he could move migrants from one part to another. and florida

mccartney of ubs, he is the global cohead of equity capital markets, is going to be joining us.his is bloomberg. ♪ than the business you're in. (robot whirring) want smarter factories? that's the internet of things business. accelerating r and d? data science business. hey. have a look. managing global supply chains? shrink our carbon footprint business. thank you. (in foreign language) that's where deloitte comes in. with a potent blend of acumen and technology to help advance and connect all that it takes to excel in business ... to the business i'm in. deloitte. hi, i'm katie, i've lost 110 pounds on golo in just over a year. golo is different than other programs i had been on because i was specifically looking for something that helped with insulin resistance. i had had conversations with my physician indicating that that was probably an issue that i was facing and making it more difficult for me to sustain weight loss. golo has been more sustainable. i can fit it into family life, i can make meals that the whole family will enjoy. it just works in everyday life as a mom. -

we will get a take from themis, ubs global wealth management joining us next. away and there are a lot of letters. he will be talking with us next. this is bloomberg. ♪ ♪ honestly i don't care ♪ find the perfect vacation rental for you booking.com, booking. yeah. introducing j.p. morgan personal advisors. -hey david connect with an advisor to create your personalized plan. -let's find the right investments for your goals okay, great. j.p. morgan wealth management. so the first time i ever seen a golo advertisement, okay, great. i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energiz

on the european close, we are going to continue to talk about these markets with kiran ganesh from ubsoomberg." alix: european stocks are higher. the countdown to the close starts now. >> the countdown is on in europe. this is bloomberg markets: european close with guy johnson and alix steel. >> 30 minutes ago until european markets close. not it good day for bond's. they are getting twofold hit. there is a story of data

all right, dr ube d a massive earthquake. all right, dr ubeyd sakin _ a massive earthquake.r ubeyd sakin from hatay, _ a massive earthquake. all right, dr ubeyd sakin from hatay, thank - a massive earthquake. all right, dr ubeyd sakin from hatay, thank you forjoining us on bbc news. former chelsea and newcastle midfielder christian atsu, who plays for turkish club hatayspor, is still missing in the aftermath of the quake. his partner claire rupio has spoken of her worry as she waits for news about him. she spoke to the bbc earlier. all i know is that, currently, his agent is in turkey, and he's trying to get to the place where it happened. we know that his building has been... well, they know where the building is and they're trying their best to rescue everybody. and they know that there are people still under the rubble, but the problem is that they don't have the equipment necessary to get them out. so, yeah, he's still missing and they don't know where he is. so, it was quite shocking, as you can imagine, if the club is confirming, saying he has been found and alive and

. >> what have we learned with ub and lyft's susceptibility to the macro environment?id was weird and distorted everything but now that drivers are back, people are back, gross bookings are up, what have we learned if there's softness, what happens >> i think now we're starting to see different business models, and even when you go back a few years ago when i was coming out of the ipo, there were disasters. now the scale, cutting back costs, you can see that they can scale from a profitable perspective, and from a macro holding up well because it's a duopoly. can they raise prices? what does that look like in terms of demand? we're seeing demand hold in and that's super impressive, especially when there's been some white knuckle quarters from both uber and lyft. >> what is the pushback you get when you talk to clients about these names? >> i think many investors institutionally, they're just skeptical about their ability to further expand margins and ebitda can they do it if there's a further price war. many are snake bitten in these names. i think sentiment is startin

so, yeah, i do think you have to keep in mind -- you know, ubs, the strategists there have actually,g one of the bigger risks to earnings in general for this year is the lower quality of earnings, so if you look at not just the adjustments to reported earnings but also things like accounting accruals and things you can look inside the books and say, are things getting better or worse, they're suggesting that there's a little bit of vulnerability there, because companies are basically kind of exhausting their ability to show reported earnings for a little while so, i don't know that that's going to be the dominant narrative, but it's interesting to keep in mind. >> to your point, they issue the stock-based comp, then have the stock buyback to offset -- >> if they're lucky and have the cash flow to do it >> i mentioned it to harley finkle stein yesterday >> meanwhile, we knew uber eats business, for example, came in a bit strong, but dash continues to lag uber on the one-year charts >> for sure. yeah it does seem as if uber has the bone it's a more seasoned public company. it's trading

i want to show you ubs health, it topped wall street estimates for the bigger story is the fact thatirmed that they are going primary health provider oak street, $39 a share, $10 billion plus deal cbs has been busy on acquisitions the last few months and bought signify health, tech and health provider for $8 billion in september so another 10 billion on top of that. uber, talk about talk of the day, best quarter ever for the right handling company not only did they beat on sales and profit, i said profit because they actually made money which is hard for the company to do in its 15 year history but instead of losing money to end last year which is what wall street expected, they made almost one 100% more over those wall street estimates which ceo says is a company strongest quarter ever and they are guiding for celebration in bookings of 20 to 24% for this quarter to start this year and 1 billion trips for the company. finally, fast food because yum brands, it's all things to talk about that outperformed because there are as many in china so china was a weak spot in similar to what s

ubs senior strategist, nadia lovell and former gartman letter editor, dennis gartman., i want to get your take on what we're seeing in the markets. we've been talking about the choppy action, bracing for volatility in 2023. so many components to this. you've gone earnings and companies and layoffs and the fed. your take? >> yeah, you know, we think had this is a market that has gotten ahead of itself for various reasons. what the market is trying to he digest is the shifting of the narrative from a hard line into a soft line but we think that the market is going to continue to churn and cycle through until the macro data is clearer. right now we're seeing weakness on the manufacturing side but the labor market and service side remains resilient. some of the technical factors and positioning that has p driven the rally year-to-date, feels like the peak is behind us and i'm talking specifically to the short cover and the hedge fund so we do think this rally is going to stall out. we're expecting a pullback. when you think about it from a valuation standpoint, valuation i

. >> well, professor mcculley was the chief economist at ubs when greenspan had the term irrational exuberance and the world is so different. think about a fed that's gone out of their way to communicate to the market this is not what the fed was doing back then but paul is right. he was on our show our month and a half ago and leaning bullish and on this concept that there have been this moment where the fed peaked i would just go and say that short-term and medium-term is how i think about the market i think we have a case where 30% of the fund managers out there feel like they are not exposed enough to cyclicality. 35% of them believe we're now not in a recession and whereas it was 75% back in november that said we are going to recession, i think we're at a place where i follow the market clues which are the cash levels and positioning and seems to me like it trades higher even though the math doesn't make sense in terms of where the s&p and earnings are. >> we've got a news alert. taiwan semi, lower and berkshire hathaway lower its stake. >> they cut its stake on the semiconductor by 86% a

i wouldn't suddenly, or without an unter, when was to seen it at wanton ubs. but total dakota lives, so he will, i can flare, delivered that the county little analia. no, out of the lake, a sort of like a chassis and my mom would as it now it should more she'd la jolla mostly me. and what about helen fema now? who are so that'll be her that the next one was the meanwhile in, when was the scene okay that, that if $11.00 of the source i from on source i look and, and i dropped off to ronnie manila. uh huh. who does it lives here? sort of in them. second, it is sort of a listener mediconnect i suffered rather low. so we're sort of the only candidate $1.00 fee. so the earned to habit mr. sharp will sure are. were there sir? you are any current has out what has more good from us. that dollar can up to time and i will, i will look on with our 5th. okay. looked what, what does that come with after the new adult refuse and im, so your mother said because a lot of her me a demo this year that had refused them. so you can change another column, low column down the colum

worst week since july but, again, up about 4% at this hour and invest buy hanging on to gains after ubs raised its price to 87 from 80 bucks and reiterated a neutral rating that company is set to report earnings next thursday up 1.5%, scott. >> okay. seema, appreciate that we're just getting started on "closing bell. ahead, up in the clouds, the software space is surging but can that rally really last and what might it mean for the broader market we do discuss live from the new york stock exchange "closing bell" on cnbc back right after this the eagle has landed. that's one small step for man... hey, what's up? uh... houston... we have a situation. how did you get here? you're characters in our video game! video game? yeah, it's what we do with xfinity 10g. it's like, you know, the best network imaginable. what the heck is that? those are the bad guys. are they friendly? the 10g network, only from xfinity. one giant leap for mankind. >>> we continue to see rallies being led by lower quality stocks that was certainly the case in january. similar to october and august and last march and s

there has been a ubs reduction in incarceration rates, but there's a lot there.oates what a great pleasure to have. you >> thank you, thank you for that kind introduction. >> we will be right back. >> we will be right back. paradontax blood when you brush could lead to worse over time. help stop the clock on gum disease now. parodontax toothpaste... ...is 3x more effective at removing plaque bacteria, one of the main causes of bleeding gums. parodontax. the gum experts. we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their policies for cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you own a life insurance policy of $100,000 or more, you can sell all or part of it to coventry. even a term policy. for cash, or a combination of cash and coverage, with n

ubs, they add a may rate hike to the projection now, talking about potentially june as well morgan stanley, 25 in march. 25 in may as well. now june all of a sudden is a wild card. >> may is yesterday's story. you're adding may, you're late we're adding june now. that's where we're at. you can look at the stock market, listen to my reporting the debate right now is whether or not we're in june we now have a 50% probability of a june rate hike in the cards right now. what does that mean? it means that the more hawkish wing of the fed is sort of winning this argument in the sense that they were in that 5.40 camp. >> we discussed this the other day. just as brainerd is exit stage left, a dove has left the building it makes what you're talking about maybe more plausible because the counter argument loses a critical voice >> i think it loses a critical voice, but i think the story, scott, there have been no defense in the inflation fox holes. think about the people we're talking about. mary daly, i mean, bostick i guess you could go either way with, susan collins -- >> kashkari went 180 from do

states. uh , we are also represented in the he office in nairoba, where the uh program is headquartered, ub have historically had good ties with many countries. we have the same view with african countries on many topical issues on the international agenda, we are actively cooperating in the united nations in the non-alignment movement, we can name such countries as algeria, e courts, angola, following the results of a state visit , our interaction with mozambique will receive a new impetus. well, as for specific projects. we know that these are also implemented. what is the most high-profile most high-profile recent days, of course, this is the agricultural mechanization project in zimbabwe's heads of state during the visit officially completed the second phase of this project and gave start-3 and e, according to the reaction. eh, african countries - this is a project and it is their experience that interested us in the corresponding positive signals, we also have assembly production. of course, we currently have assembly facilities for tractors and mtz in egypt . the republic of south afr