Bloomberg, EU, Bank Of England discussed on Bloomberg Daybreak
The euro dollar thirteen forty three and the yen one ten John. And Karen, let's begin with the breaking news out of Europe. This is where the EU is slashing. Its forecast for growth. Bloomberg's pots joins us live from London with the latest. Good morning. Good morning, John. And Karen, the EU is cutting its twenty nine hundred forecast for the area to one point three percents. That's down from one point nine percent previously. When it comes to Italy, the focus is being by a full percentage point the commission. Now seeing they tell you to call me growing by just two tenths of one percent for the year. Germany's GDP also getting significant cuts with forecast. Now calling for growth of one point one percents thus down from a previous estimates of one point eight percents. The commission also cutting its forecast for inflation from one point eight percent down to one point four percents. And it says it sees quote, large uncertainty surrounding Brexit's live in London immune pots, Bloomberg daybreak. All right. Thank you. You and earnings that of Europe also in focus socio patient Arale reports trading revenue plummeted in the fourth quarter. And that has the French Bank cutting costs by five hundred seventy million dollars. CEO of Frederick. Uh-huh. Diaz spoke to Bloomberg following 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. Sanitation is slashing forecasts after grim quarter for European investment. Banks that results follow a profit warning from the French Bank that it already priced in some of this news series of sock in have been swinging between gains and losses this morning right now, they're up a third of a percent and shares of UniCredit surging after fourth quarter income topped estimates. The Italian Bank also completed cost cutting plans ahead of schedule at Bloomberg. Sam unsteady has details. I think what you're seeing is thanks being rewarded for taking action to try and reshape things say Societe Generale shrinking their trading unit. Unicredit is well that cutting costs and they clean up the business. I think both by the looks of being rewarded for taking those proactive steps. Lower expenses were a key driver prophet at UniCredit right now. Shares are up five percent in Milan. Total as the latest big oil company. Reporting a big increase in profits. Saying it pumped a record oil and gas last year. Bloomberg's well Kennedy has more you'll getting 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 really shows that title is funding 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 half percent and shears Publicis are down boards and ten percent. The Catholics suffered a surprise drop in fourth-quarter sales. Thanks to constant ads spending by consumer brands in the US that has other advertising. Stocks falling with WPP on the common and the Republic all losing ground on the Brexit frant-. Theresa May has to Brussels today seeking changes to her deal. The e u Bloomberg's Alex Morales reports 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 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 six 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 inland and Alex Morales Bloomberg daybreak. Thanks, alex. And at seventy Wall Street time, the Bank of England announces its latest policy decision officials are likely to keep interest rates unchanged. Leaving much of the focus on their forecast. An annual review of the UK economy on Peres is senior epic strategist at tempests forecasting. What's going to happen today is a little bit more difficult than usual. The Bank of 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 and no deal scenario will be catastrophic going that route is very dovish Baker. Also, just say, hey, look, their fundamentals of economy there on the up and up and not everything is doom and gloom of Bank of England. Governor Mark Carney holds a press conference at seven thirty. Am Wall Street time, which will bring you live right here on Bloomberg radio regulators in Germany are opening up probe on Facebook had 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 saying that Facebook is so dominant in social media that they have to have certain protections for their users to avoid treating them 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 ad models and whatever other models used to sell data on? Germany is banning Facebook from combining user data from various sources, the company will appeal the order saying it's been targeted unfairly shares a Facebook or down about one percent in early trading. And straight ahead. We have the latest world and national news. This is Bloomberg. Thanks, Karen, 507, Wall Street. Let's get news from around the world this morning. We say good morning to Bloomberg's Michael Barr. Thank you, John..