Bloomberg, EU, Facebook discussed on Bloomberg Daybreak

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The euro dollar thirteen thirty four and the yen went oh nine point eight seven John barren. Karen, let's begin Europe. This is where the EU is slashing its forecast for growth blue. Burg's you in pots joins us live from London with the latest morning you good morning. John. Karen? The European Commission is cutting its growth forecast for all the regions major economies a warning the Brexit's and the slowdown in China threatens the outlook even worse it. Now sees your growth of just one point three percent for the year that's down from a previous forecast of one point nine percents. When it comes to Italy. The forecast is being cut by a full percentage point with the Italian economy set to grow just two tenths of one percent for the year. Germany's GDP also getting a significant downgrade with costs now calling for growth of one point one percent. The revision follows a to that Saint disappointing economic data across the entire euro area. Live from London anew imports. Bloomberg daybreak you. Thank you earnings out of Europe. Also in focus Societa Generale reports trading revenue plummeted in the fourth quarter. And that has the French Bank cutting costs by five hundred seventy million dollars CEO, Frederick odiaun spoke. Bloomberg following the results to see the area where we have boosted more disappointing results is the capital markets. And what we are doing is not just reacting to a difficult fourth quarter. Well, taking into account the environment. We are expecting in the coming years so Siete Generali's slashing forecasts after a grim quarter for European investment. Banks results follow up profit warning from the French Bank. That had already priced in some of this news shares of stock. Jan have been swinging between gains and losses. This morning right now they're down about two percent and shares of unit credit are surging after fourth quarter income top two estimates. The Italian Bank also completed cost cutting plans ahead of schedule Bloomberg Sam instead reports I think what you're seeing is being rewarded for taking action to try and reshape things say genre. Shrinking their trading unit UniCredit is well that cutting costs and they clean up the business. And I think both by the looks being rewarded for taking those proactive steps. Lower expenses. Ricky driver prophet at UniCredit right now. Shares are up three percent in Milan. Total as the latest big oil company. Reporting a big increase in profit saying pump to record oil and gas last year. Bloomberg's well Kennedy has more you'll getting a media really sharp increase in production over two years. You're looking at twenty percent, which is quite remarkable for one of the world's largest oil companies video shows that total is firing on all cylinders net. Income Fourtou tall was up. Ten percent. From last year. Investors may have been looking for more though, shares are down. One percent shares Publicis are down more than ten percent. The company suffered a surprise drop in fourth-quarter sales. Thanks to cuts an ad spending. By consumer brands in the US, then has other advertising stacks, pulling with WPP on the Khan and enter public all losing ground on the Brexit. Frontier. Isa may heads to Brussels today seeking changes to her deal with the EU Bloomberg's Alex Morales report. The UK prime minister will meet with e you president Donald tusk. And European Commission. Chief shown could Janka objective is to secure guarantee that Britain can't be trapped in the Irish border backstop. But there are a few signs of compromise. From the EU whose leaders have been unanimous in their reluctance to reopen talks withdrew will agreement tensions. Haven't been helped by remarks and Wednesday that there's a special place in hell for British politicians who campaign for Brexit without a clear plan of how to implement it in London. Alex Morales Bloomberg daybreak. All right. Thanks, Alex, added seventy and Wall Street time the Bank of England announces its latest policy decision officials are likely to keep interest rates on change leaving much of the focus on their poor cast and annual review of the UK economy, Juan Perez, a senior strategist at tempests forecasting. What's going to happen today is a little bit more difficult than usual Vancouver England. Governor Mark Carney could go two ways. Either. They can really focus on the fact that seems Brexit now is once again, very very uncertain. I know deal scenario will be. Straw going that route is very dovish sacred. Also, just say, hey, look, fundamental. So the economy there on the up and up and not everything is doom and gloom Bank of England. Governor Mark Carney holds a press conference at seven thirty Wall Street time, which will bring you live right here on Bloomberg radio. Regulators in Germany are opening up probe on Facebook. Germany's Federal Cartel Office is giving the social media company, twelve months to change its user, data policy, and the way it combines user data. Bloomberg's Tony errands has details they're saying that Facebook is so dominant in social media that they have to have certain protections for their users to avoid treating the badly. And they said they can't mix data from multiple sources. Did they can't monitor web surfing by Facebook customers, and then incorporate that into their models, and whatever other models they used to sell data on Germany has banning Facebook from combining data from various sources, the company will appeal the order saying it's been targeted unfairly shares of Facebook down one percent in early trading. And we have a regional Bank deal to tell you about this morning be the SunTrust or combining in an all stock deal. Valued at sixty six billion dollars that has shares of SunTrust up about five percent at the pre market. This is Bloomberg. Now, six oh, seven on Wall Street. Let's get news from around the world this morning. Good morning to Bloomberg's Michael Barr. Thank you, John. The house intelligence committee voted to send dozens of unredacted transcripts from its Russia investigation interviews to special counsel. Robert Muller chairman, Adam Schiff wants mullet review the transcripts to see whether any other witnesses who appeared before the panel committed perjury Schiff also says they will probe whether foreign governments or individuals had improper leverage over the president or his business interests hard.

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