Russia, Steve Bannon, Goldman discussed on Bloomberg Daybreak Europe


Is create a precedent that the Department of Justice can execute a search warrant against former president when alternative means to accomplish the same result would have been available. Texas Republican senator John cornyn warning of the precedent sash by the FBI's raid on Mar-a-Lago on an unrelated matter, a former White House just Steve Bannon is set to face criminal charges in New York for allegedly misusing campaign finance. Over to Russia and Russia wants to buy millions of rockets and artillery shells from North Korea to use in its war against Ukraine. U.S. officials say it's a sign that western sanctions on its military and financial system are starting to bite, deputy treasury secretary Wally adeyemo says Russia's economy faces years of hardship as a result of the measures taken by the U.S. and its allies over president of Vladimir Putin's invasion of Ukraine. Here's what he told Bloomberg television's balance of power with David Weston. The Russia's economy is in a great deal of pain because of the sanctions that we've implemented with 30 other countries. And the pain is going to continue for years to come and it's going to hit Russia's revenues and it's going to decrease those revenues over time. That was the U.S. deputy treasury secretary Wally adeyemo speaking to Bloomberg there. Well, those are our top stories. Let's take a look now at some of the events that we're looking forward to later in the day Bloomberg's James Wilcox back with us in studio starting lots of action today in Westminster James. Yes, Stephen, at least trust meets that newly appointed cabinets like we set thrice. This morning and we'll face her first PMQs later. That cabinet is set to start meeting at 8 30 a.m., so they all should be doing it as we speak, and it's customary for the first prime minister to release footage of the speech that her remarks to her new cabinet. So we may get some footage of the early on this morning. Now, prime minister's questions won't be the only grilling happening Westminster today. The Bank of England governor Andrew Bailey faces the treasury select committee along with some of his monetary policy committee, including who pell, the chief economist at 10 a.m., they'll be asking about his most recent rate decision, as well as his outlook for the labor market in international trade, the impact of gas and energy prices and potentially threats to the Bank of England's independence after the conservative leisure race. And not just in the UK their events around the world were watching too. Obviously, we've got the fed happening with barkin speaking at 2 p.m. method three brainard at 5 40 p.m. and then the beige book at 7. Okay, James wilcock, thank you very much for that look ahead to the events we're watching out for later today. Okay, let us turn to things we already know about, and that is the London rush. We carve out some time to highlight UK businesses making announcements in London and joining us now is our breaking news reporter irina angel, who has a rundown forest irina good morning to you. Let's start with what I was going to say U.S. banks, which seems strange for the London rush, but actually it's about UK property, isn't it? Indeed, good morning. And we're starting with Goldman Sachs, and the bank is actually coming to Birmingham. So Goldman is preparing to sign a ten year lease on office space for up to 800 staff there. And the photo someone like Goldman is going to Birmingham really shows that Wall Street firms are expanding beyond London and the wake of the pandemic. And I'm curious to see who's next. We can expect Goldman to sign in the coming two weeks. And there are aiming to move into the customized space in early 2024. I'm wondering if this is a portent for the Eurovision host city selection process, does the Eurovision follow Goldman Sachs? Who comes down to Eurovision? Look, it's my daily challenge, I was trying to slip a mention of the Eurovision into every conversation possible. Arena, you've also been looking at the latest data on UK house prices. That's right. UK house prices rebounded in August, led by the strongest growth in London in 6 years. And that's according to Halifax, one of the nation's biggest mortgage lenders. Halifax said that measure of property prices rose 0.4% last month. And that's after a dip in the month before. This means a new home now will cost you an average of almost 300,000 pounds in the UK and that's a new record. Okay, so that's the house price story. Linked to that, Barrett's developments, a home builder, what's the news flow? Well, they reported revenue for the full year and they met analyst expectations. And Barrett Warren actually that they're facing higher taxation and that's in addition to ongoing challenges around build cost inflation and they will withdraw all of the help to buy scheme. It's really interesting to see actually these developments on the UK housing market is we're expecting of course rising interest rates to have such a negative impact on them, but at prices continuing to rise in that. I mean, that record figure 294,000 pounds is a frightening, frankly, for anyone who's trying to buy a house. You've also been looking at a latest news from doubly hate Smith. Indeed, the bookstore chain, they said that the high street business was performing in line with expectations. And W Smith has identified further cost saving opportunities. They're saying that actually lower rent, so they're forecasting lower rents That will help them cut costs and save money in the future. So that's some good news, I guess. Yes, I mean, yes, if you can't buy a house by affordable treats. Oh God, this is like the avocado toast conversation I love again. I

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