14 Burst results for "Caroline Hepar"
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Caroline hepar John Italy's parliament starts the process for choosing a new president to succeed Sergio matara on Monday and a familiar name is the top contender prime minister Mario Draghi The process has been compared to the election of a new Pope It could last several days and potentially spot political turmoil if Draghi does depart from his role as prime minister early Well for more let's bring in Bloomberg government reporter Keanu albanese He joins me live from Rome Thank you so much for being with us What does the Italian president actually do That's a great question And thanks for having me because Italian presidents have very limited power but when they actually use their powers that really matter So while in their daily lives they mostly have a ceremonial role They also appoint prime ministers and they can be told ministers or they can be so low so pretty crucial when it comes to the crunch so then what would the problem be if drag you were to get the job So we are now in non presented situation So the top contender for the job is Mary bragi we all know the name and ease the prime minister If we were to get the presidential role it would be the first time that the prime minister basically moved about a kilometer away to the query knowledge palace and leave the prime minister post empty And the filmmakers began to have to vote confidence to a new government Okay so why is his name then being touted so widely Well no one really matches these titles and his career he also at the moment supported by a very wide majority which makes his election more likely a 74 Draghi has been the European Central Bank head He's also been the government of the bank of Italy is a respected at home and abroad and that makes him the perfect candidate for the job given also the long-term mandate the president remains in power for 7 years Okay so if Mario Draghi were to leave let's say who would be in the position perhaps to take over as prime minister Would there be early elections Well early elections are possible but they are not the only option Italy is due to hold a general election in 2023 So lawmakers will have one year in the post And they are absolutely willing to do whatever they can to maintain their position So what is likely to happen is that they will try to find political compromise on another name That can be a technocrat There have been various names like during these weeks we can think of finance mimic the Franco of just as many third character so we could have another agreement on a different government without earlier elections Without a political agreement clearly we still face the risk of a potential vote It's not vote Yeah absolutely So is there anyone else in the running then for the role of president other than jogging Absolutely well having the least of possible contenders for the job is quite long But it should be said that very few are expected to actually have sufficient consensus In the run we have basically the same names somehow that we have for the prime minister role So again masaki she is the justice minister She would also be the first woman to hold the post there have also been some long-term politicians we can think of PS 7 Is the former head of Delaware former president but also another possibility is that the outgoing president said your material will remain in power for a near term So what about another familiar name Certainly abroad the media mogul Sylvia Berlusconi where does he fit into this That's the question I was waiting for So it gives you Berlusconi You know he is 85 years old So if we consider Monday he would be 92 by the time we served with end But he'd been running a very strong lumping campaign to get sufficient votes from lawmakers to be elected but it seems that in recent days his campaign is becoming unsuccessful Sources are telling us that he is right to stand down in his presidential campaign In all of this what is of course one of the key actors in this Mario Draghi actually saying about his intentions and what he might want to do President they are not official candidates They are elected by lawmakers So there is no official way to run for the post and Mario Draghi given that these prime minister of a very large and complicated coalition government is basically saying that is not commenting on him becoming president But he also said and we know that from sources and from some very shy remarks that he made in recent weeks that it would be ready to make the move Okay so he's not saying no then So tell us about the process I mentioned at the start that it was a bit like a sort of papal decision It's a secret ballot What are we watching for now in terms of the process Exactly is a very complicated process It is full of ceremonies and routines lawmakers basically both in joint assembly so it's about 1000 people voting they cause a secret ballot one by one In the first three rounds of the vote there will be a two thirds majority required to find a new president And that will be followed by an absolute majority consensus to reach So we will have $1.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Influential newsmakers The bond market was the boss Bloomberg markets with Paul Sweeney and Matt Miller Subscribe today and Bloomberg radio dot com The Bloomberg business app or iTunes He was the heart of your family and he taught you our history He helped you fix your first flat He was the best backyard DJ around and every time he tell a story he'd owned the room but now more than ever he may feel alone Today older adults in their loved ones are struggling to connect in a time when connection has never been more important But there is something we can do embrace our older loved ones through StoryCorps connect with StoryCorps connect you can honor seniors remotely with an interview about their life Every interview will be archived at the Library of Congress becoming part of American history so that years from now future generations can listen in All right grandpa What's one piece of advice you have for me Just three words sweetheart live with courage The man that had the best stories still has plenty of stories to tell So connect virtually and share the conversation of a lifetime and story court connect dot org slash AARP Connect honor share StoryCorps connect a message from AARP StoryCorps and the ad council Markets headlines and breaking news 24 hours a day at flu burn dot com the blue book business app Quick take this is a Bloomberg business flash Probably makes European headquarters here in London and Caroline hepar with this Bloomberg radio business flash It's a big week for bank.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Ad council Influential conversations from Bloomberg television Here's Anna Edwards Joining us now with the market's perspective Toronto dominion bank senior European rates strategist Who's a really good to speak to you We've been talking a little bit about what's been driving yields higher And it's interesting in the context of all the concern that all the things that could be holding us back all the things that could be worrying us around the omicron variant Maybe the market is looking through that But mark making the point to me earlier that the steeper curves that we're seeing I'm thinking here about treasuries but perhaps it applies in other places as well The steeper curves is not a sign of a huge amount of optimism It's about technicals It's about corporate issues and it's also about fear around inflation What do you put the higher yield environment down to it At the time environment is more like a seasonal driven where we see every year we started in the financial optimism and we have extreme high levels of supply coming across both that we are looking for at EDD or we are looking at corporate supply So that is definitely adding to the sleeping bias that we are seeing in curves across country And also given the fact that in December we did have Central Bank action addressing the end of the policy And I think raised our markets have started to reflect that And that's where you are seeing market reassessing new levels that people go Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bluebird mobile app or check your local cable listings Okay Markets headlines and breaking news 24 hours a day at flu burn dot com the Bluebird business app simply but quick take this is a Bloomberg business flash From Bloomberg's European headquarters in London and Caroline hepar with this Bloomberg radio business flash So the markets are squarely focused on the FOMC minutes that showed officials want to start balance sheet runoff sooner than had been expected Overnight swaps markets now betting 80% on a 25 basis point interest rate rise in the U.S. in March three hikes now seen from the fed this year What does that done It has led to a sell off particularly in tech stocks but more broadly the S&P 500 Index slumped 1.9% of the clothes the biggest drop in more than a month and NASDAQ tumbled 3.1% and now futures are very much in the red dropping 2.1% for the U.S. stocks 50 futures so Europe really playing catch up with the Wall Street story S&P 500 evenly features currently down half of 1% U.S. benchmark yields are rising steadily but surely one spot 7 three three on the ten year are by two and a half basis points right now You have a bid for the dollar up by a tenth of 1% on the Bloomberg dollar spot.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Year The economy is back from the brink but not completely out of the Woods Bloomberg daybreak Europe on Bloomberg radio Anniversary for London and Caroline hepar welcome to Bloomberg daybreak Europe This Monday morning So it is a holiday UK market's closed along with China Japan and Australia but we have some of our best interviews to bring you this hour Also in terms of the latest on the omicron variant of COVID-19 it is spreading rapidly a record week for cases reported in the United States Italy and France However I suppose the better news is that it appears to be less severe and that's backed up by hospitalization and death rates at the moment Let's bring you an update then on the markets that are trading right now USA actually futures are gaining so S&P 500 even features up by four tenths of 1% along with NASDAQ and Dow Jones a futures Asian stocks the cost B has been gaining this morning for tents the hang seng down 6 tenths of 1% Bloomberg dollar spot index is stronger two tenths of 1% the Euro pulls back to tenth of 1% and oil gains 7 tenths of 1% this morning after declining on Friday and ahead of an OPEC plus meeting on Tuesday So that's a brief look at the markets Let's go to one of our top stories then this morning shares in Chinese developers have tumbled after local media reports that China evergrande group has been ordered to demolish apartment blocks in hainan province ever ground halted trading in its shares this morning the company gave no details about the trading suspension other than saying that it would make an announcement with further information Now developers sunak China and shimao group plunged more than 10% a local government in hainan told evergreen to demolish some 39 buildings in ten days because the building permit was illegally obtained that's according to reporting from local media Kylie Ann that was reported on Saturday So that's one of our top stories to think about this morning Let's go to a couple of our recent interviews though Looking at supply and skills shortages just as the Christmas shopping season really kicked in so did the omicron COVID variants get a picture of the stresses on retailers at the end of what has been a turbulent year I spoke to Gary grant the founder and executive chairman of the toy chain the entertainer He spoke to Europe in September saying that he was most concerned about supply chain issues and I then asked him in December about how electron was affecting business Supply chain issues really from quarter one of 2021 have been one of our biggest challenges trying to get consensus to leave on time from the far east obtaining empty containers and the cost of empty containers and in September We had a huge quantity of stock in China That situation of these concerns are late but they're all outflowing The situation is stock is now coming in late Some of the stock won't actually be in the UK and create customs by Christmas Now we're looking at the shape of retail retail starts to ramp up from early October It has been softened up by soft November was softer December is proving a little bit more resilient last weekend Wasn't the big weekend we were expecting yesterday Monday was a really big day in the shops we're seeing less people but the people that are shopping are actually spending more money And I think that's now because people realize there's a risk on their Internet passwords curling up we've certainly struggling for warehouse staff in our packing warehouses and obviously we're struggling for drivers which has been ongoing situation really now for about the last four months Gary it sounds like there's a bit of resilience then in terms of the December numbers and you're seeing bigger spending per individual who is actually getting into your stores Do you expect that trend to continue and how closely are you watching any announcements from the government Well the thing is the toy trade is generally quite resilient to a session and most parents will definitely go the extra mile they will cut down on other things rather than cut down on their children's gifting So I think parents are finding ways to make sure whatever is short at Christmas which you'll look at the present that they want What will happen post Christmas I think it's speculation at the moment but I think we probably are working towards some form of restrictions from a lockdown fire break whatever the government might happen to call it and in a way that's sort of happening by stealth now because people are being very cautious about their shopping trips and I think what we'll find is our key city center stores and we the international is a 173 stores around the UK We sell about 10% of toys in the UK So there's quite a lot of volume still to move but we're finding that actually have a lot of the smaller shops in smaller communities are actually stepping up people going to their local shops rather than necessarily going to the big shopping centers where the big crowds and the car parks are Okay Gary one last thought and many industries want more government help especially hospitality and retail Do you If so what form The form of help that we would need now is because I think certainly the entertainment has done significantly better in the last quarter than maybe hospitality where people have canceled coming to us They're still coming but in slightly lower numbers But going forward it's really important as we now go into the quieter time of the year 50% of that annual turnover is in 9 months 50% in just three which is why this quarter was so critical It's now really important that retailers manage their expenses they manage their cash So another form of support that the government can step up and help with now is one they offered time to pay on crown debt during 2020 20 21 that would be really helpful to help with the cash flow as turnover slightly down and stock is coming late So that was Gary grant the founder and executive chairman of the torch in the entertainer speaking to me and to Tom McKenzie Now on that same morning the managing director at the road hall is association rod Mackenzie told me about the 2021 Lori driver shortage about whether that's actually eased at all Certainly not over it's slightly better than it was And if I give that to you in numbers we were estimating that there's a shortage of lorry drivers around 100,000 in summer and autumn of this year And we now estimate that to be 85,000 So a drop if you like the 15,000 couple of reasons for that I think all the publicity around shortage of load drivers and appeals for people to join up has worked and certainly some people put their hands up to train to be lower drivers than they've done so And I think the other reason is sort of the government measures including speeding up the admin around testing and licensing has certainly had an impact But this isn't going away It's not a short term problem It's a long-term problem And we still need to address many of the fundamental problems that underlie it And the peak of course in autumn it was the fact that there were petrol and gas shortages across the UK that really brought it into focus sharp focus in Britain But also there's this issue around Brexit What about new licenses that truck drivers are going to need for Europe basically anyone driving a van or kind of like commercial vehicle They're going to have to get this new international operating license And there is now quite a big worry about what that's going to mean For businesses trying to get trade into Europe You're absolutely right It's a big concern.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Last few days of 2021 as we are soon to welcome the new year in So it's 7 O 1 a.m. in London 8 O 1 a.m. over in Frankfurt And we do of course check the markets for you every 15 minutes throughout the trading day right here on Bloomberg radio Now it was a strong session for the U.S. overnight at 70th record for the S&P 500 However futures are tracking lower this morning stocks of 50 tracking low on the S&P 500 and NASDAQ futures are also in the red Now European stocks are set for a Santa rally The stock 600 is headed for its best month since March Euro stocks 50 up to tenth of a percent 4100 futures are down one tenth of a percent as a place catch up from that Christmas holiday and a Dax futures are higher one tenth of a percent So stocks in Asia are steady China's CSI 300 index Now that's up nearly 8 tenths of a percent Stocks are getting a bounce on the promise of more easing The MSCI Asia Pacific lower nearly two tenths of a percent Japan's topics is up Now in the oil space oil is on a real solid footing heading into 2022 WTI crude up one tenth of a percent and brain crude is heading towards $80 a barrel elsewhere Bitcoin extended its December retreat and was trading below $47,000 Now let's get on to some of our top stories from today We're going to start here in the UK where COVID cases have it another daily record surging to over 183,000 There is also growing frustration over lack of available natural flow tests ahead of New Year's Eve celebrations Meanwhile the government says it has no plans to further reduce isolation period for people with COVID-19 even as staff absences put pressure on both the health service and supply chains Authorities lowered the quarantine requirement in England to 7 days from ten last week but leaders are facing calls to go even further after the CDC in America shortened its recommendation to 5 days Now that was one of our top stories Now on to one of our top interviews looking at what is next for the UK economy According to the head of the CBI the country's biggest business lobby Boris Johnson must reverse decades of benign neglect of British regions and reduce London's dominant position in the British economy The idea really chimed with the prime minister's idea of leveling up car and Bill and moria president of the CBI joint Bloomberg radio early this year and daybreak Europe's house Caroline hepar asked him does a CBI think the government is really committed to engaging with business to deliver economic growth We've been working very collaboratively with the government throughout the pandemic In fact so much of so many of the measures that we have had that have saved the economy saved businesses thousands of businesses millions of jobs have been done in absolute sync working closely with the CBI whether the job retention scheme the further scheme whether it's the push philanthropy testing that we now have available free in all businesses and homes In every aspect we were working very very closely with government And when it comes to leveling up we it's something I personally have been shouting from the rooftops for years about clusters and the power of clusters the power of places like Cambridge with the university at center than the tech cluster that emerged from it with arm and acorn and then our lifestyle discussed it with AstraZeneca ox that we talk about obviously as any good But AstraZeneca has actually headquartered in Cambridge So you've got a life sciences cluster and the potential for these clusters around the country is absolutely huge So the government has this ambition and we are now helping and we're announcing a new initiative for thriving regions that we want to work with government to help them with their leveling opportunities which I think is absolutely crucial Okay lo Bella moira the CBI is calling for a leveling up playbook That to me sounds remarkably like an actual written plan for what leveling up means and the phrase has been around for well over a year What metrics there would you apply to success And we talk about clusters What would the metrics be that you would want to see if this leveling up agenda is to actually be committed pen to paper Absolutely because talk is one thing in action is another thing and what we have in a position to see guys the largest business organization in the country present in every region of the country of the United Kingdom We have our regional councils our regional directors We are in touch with businesses on the ground We speak for a 190,000 businesses 200 trade associations on the national farmers unit law society So we do know what's happening with business on the ground We are able to convene If I give you an example of cop 26 I was on a panel at cop 26 talking about how in homicide and that has one of the highest levels of carbon emissions at any industrial cluster in the country And there we have the leader of how city council is the chance of the university My self is present CBI We had the senior partners EY the only big four firm that we had record the company's origins of their investment I can make it work Okay but I'm giving you a specific example of how you make clusters work is by bringing everyone together on the ground making things happen Oh no and that sounds fantastic And obviously the work of the CPI is sounds excellent But I suppose what I'm asking for is what would you want from government in terms of the metrics There seems to be a plea from the CBI for the government to engage much more and that's what Tony dankers seems to be saying and you So what would be the metrics then that you would want to see government looking at in order to deliver in terms of economic growth.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Urbanites including people from London and the overwhelming majority of people want more space for walking more space recycling more promotion for public transport and better public transport and also they were crying out for more green space And I think a full range of solutions is already available There is also a number of initiatives in Paris the inner part of the city will become a low traffic zone next year This will limit the through traffic of about a 180,000 cars each day Copenhagen has also committed to procuring only zero emission buses from 2025 and to make a very large part of the city zero emission by 2030 We need to commit to creating zero emission mobility systems in cities by 2030 and we absolutely need to make sure that this transition is as fair as it possibly can be There is no time to waste That was bluebirds months for Bloomberg radio in London That was pulling back smart Daniel Davis there and according to recruitment firm Spencer Stuart woman make up the majority of none executive directors at the top 150 listed companies in the UK for the very first time shami iqbal Spencer Stuart's UK managing partner told Bloomberg Caroline's hepar It's good news It's a combination of things Caroline So it's about focus it's about every board now is focused on representation of all types There's a general is one of them They haven't Alexander review from 2016 and for the focus on this And there are more women coming soon now Now this does a good news story and absolutely it It doesn't ask a little bit that the pipeline is not so good So we need to keep to keep an eye on that because the number of executives coming through there's still work to do there But if it is a good news story for sure Yeah okay No and I was going to come on to the more troubling elements The government has a target for women on boards over all that doesn't look so good the news around people of color on UK boards also pretty appalling and the Hampton Alexander report you mentioned was grim because it showed how much in part of an intractable sort of problem this is getting more women and more diverse representation on boards Yeah as you say it does mask some of the deeper problems We can take offset I think for 26 years now A lot of the 150 largest companies that we've surveyed there's basically a top 50 companies minus on the investment trust There's still 50 companies that have not met the 33% women on the board target by April Now we do expect that to be better when we do it next year But yes there is still work with either In terms of the government targets are they doing enough Is that the reporting of the differential in terms of male and female pay As you say is enough of a light being shown in some ways the UK is something of an example for other countries But is it enough really to get change quickly enough So I think the government spotlight is one thing and having targets that had a robust metrics But the fact now I think is that many more organizations and boards are waking up to the fact that proper representation at the very top of their organization whether that be executive levels or non agent levels is crucial for their business survival The fact is that in more diverse organizations perform better and so we'll start to see various stakeholders as that be employees and that be customers as that be client is organizations deciding which firms they engage with based on how diverse their organizations are What do you think that the pandemic will have done to this lots of discussions around whose career the pandemic has hurt most I suppose What's your view on that I mean it's still ongoing two years into this health crisis Yes It's really tough and it's difficult to analyze the data because you stay with but still feels like we're sort of back in the eye of the storm again Thanks it does suggest that this won't be a great first female electors because we've seen some of the data coming through that women executives are bearing the brunt of various things whether it be family whether it be elderly relatives whether it be younger children and one of the challenges that there's always been that slight discussion around executive promotions for women as well That was Spencer Stuart managing partner shami ikbal speaking to Caroline hepker there Now coming up this is Bloomberg daybreak live from London and will get you interviews with two award winning women Microsoft's chief digital officer Jackie Wright and heba Bevin CEO and founder of utter berry you're listening to Bloomberg daybreak Europe stay tuned Hi everyone Al Roker Care has the power to bring kindness where it's needed It brings out the best in every one of us It doesn't just see people It takes time to understand them It puts the needs of others ahead of its own And when you start with care you end up with a very different kind of bank Truest Truest bank member FDIC The composer Joseph Haydn famously said I listened more than I studied It sounds like a law school hypothetical Here in Bloomberg it's the same thing Do you maintain that low rate regime Can you see our two years How do you build a strategy with that eventuality in mind Experts information news The push sets up a potential fight What.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Lower in the Asian trading session as technology stocks drove a retreat in Hong Kong and China after a tech salov in the U.S. yesterday MSCI Asia Pacific index is under pressure down half a percent CSI 300 is lower by 1.2% the nikkei and topics are also in the red U.S. features are steady after Wall Street snapped a four day climb S&P 500 features are up and contracts on the tech heavy NASDAQ 100 higher three tenths of a percent of the falling half a percent yesterday European futures are mixed Euro stocks 50 features are low one tenth of a percent We have seen a record number of COVID cases in England and across Europe quick check on currencies Bloomberg dollar sport index is currently as flat as a pancake in the bond space a yield on the ten year treasuries fell one basis point to 1.47% Quick check on commodities oil is holding nearer one year high WTI is currently flat it will cost you $76 a barrel and watch Bitcoin it's continuing its slide now at 48,000 dollars So that was a quick check on the data Let's get to some of today's top stories Two years after reports of a mysterious pneumonia which first emerged in Wuhan the pandemic is showing no signs of slowing with the full spreading amaron variant pushing worldwide cases above 1 million for a second straight day COVID cases in England have hit another record high with over 117,000 infections reported yesterday Despite the search of government has insisted it's not going to bring in any new restrictions as the oma corn variant has not led to a sharp rise in hospital admissions for UK data has been unavailable over the Christmas period so that was our top story Now let's start with two recent interviews looking at supply and skill shortages as our special program continues Just as a Christmas shopping season really kicked in so did the armagon COVID variant to get a picture of this stress on retailers at the end of a very turbulent year Caroline hepar spoke to Gary grant founder an executive chairman of toy chain the entertainer He spoke to daybreak Europe in September saying he was most concerned about supply chain issues She asked whether on the biggest worry right now Supply chain issues really from quarter one of 2021 have been one of our biggest challenges trying to get consent was to leave on time from the far east obtaining empty containers and the cost of empty containers in September We had a huge quantity of stock in China That situation is eased confined as our light but they're all outflowing The situation is stock is now coming in late Some of the stock won't actually be in the UK and clear customs by Christmas Now we're looking at the shape of retail Retail starts to ramp up from early October It has been softer October So November was softer December is proving a little bit more resilient last weekend Wasn't the big weekend we were expecting yesterday Monday was a really big day in the shops we're seeing less people but the people that are shopping are actually spending more money And I think that's now because people realize there's a risk on our Internet passwords turning up with certainly struggling for warehouse staff in our packing warehouses and obviously we're struggling for drivers which has been non going situation really now for about the last four months Gary it sounds like there's a bit of resilience then in terms of the December numbers and you're seeing bigger spending per individual who is actually getting into your stores Do you expect that trend to continue and how closely are you watching any announcements from the government Well the thing is toy trade is generally quite resilient to a session and most parents will definitely go to the extra mile They'll cut down another things rather than cut down on their children's gifting So I think parents are finding ways to make sure whatever is short at Christmas the children look at the presence that they want What will happen post Christmas I think it's speculation at the moment but I think we probably are working towards some form of restriction some form of lockdown fire break whatever the government might happen to call it and in a way that sort of happening by stealth now because people are being very cautious about their shopping trips and I think what will find is our key city center stores and the Internet has a 173 stores around the UK We saw about 10% on toys in the UK so it's quite a lot of volume still to move but we're finding that actually a lot of the smaller shops in smaller communities are actually stepping up people are going to their local shops rather than necessarily going to the big shopping centers where the big crowds and the car parks are Okay Gary one last thought and many industries want more government help especially hospitality and retail Do you If so what form A form of help that we would need now is because I think certainly the entertainment has done significantly better in the last quarter than maybe hospitality where people canceled coming to us They're still coming but in slightly lower numbers But going forward it's really important as we now go into the quieter time of the year 50% of that annual turnover is in 9 months 50% in just three which is why this quarter was so critical It's now really important that retailers manage their expenses may manage their cash So another form of support that the government could step up and help with now is one they offered trying to pay on crown debt during 2020 20 21 that would be really helpful to help with the cash flow as turnover slightly down and stock has come in late That was Gary grant founder and executive chairman of the toy chain the entertainer speaking to Caroline hepker Now on the very same day Caroline asked rod Mackenzie managing director the road haulage association whether a lorry driver shortage in 2021 had eased at all Certainly not over it's slightly better than it was And if I give that to you in numbers we were estimating that there's a shortage of lorry drivers around 100,000 in summer and autumn of this year And we now estimate that to be 85,000 So a drop if you like a 15,000 couple of reasons for that I think all the publicity around shortage of load drivers and appeals for people to join up has worked and certainly some people have put their hands up to trade to be lower drivers in the done so And I think the other reason is some of the government measures including speeding up the admin around testing and licensing has certainly had an impact But this isn't going away It's not a short term problem It's a long-term problem and we still need to address many of the fundamental problems that underlie it And the peak of course in autumn it was the fact that there were petrol and gas shortages across the UK that really bought it into focus sharp focus in Britain But also there's this issue around Brexit What about new licenses that truck drivers are going to need for Europe basically anyone.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Edge of green technology Caroline hepar asked doctor Graham Malcolm what businesses like his wanted out of cop Well I think as you said one of the things we do is we meet the world's purest light and we've been using that to explore from space the damage that has been done to the planet in terms of climate change gases like CO2 and methane So we're really only over the last 5 years at a point where we can properly measure this and as we all know if we can't really fully measure something we can't really see the action So the things that we're really interested in are CO2 is quite a long moment working hard enough and M squared we've recently announced I think even with Tully Selena to calibrate the CO2 mesh that will do the global stock take from space of CO2 But there's another important gas which is methane So we think something like 80 to a hundred times more damaging than CO2 But the good news is that we disappear into space really quickly So if we could take action there really quickly we'd actually see the results in the next 20 or 30 years So we are really keen to the same pledge as it becomes as well known as the CO2 problem that we've got You've talked a lot Graham about Scotland having this kind of golden opportunity I mean caught 26 is a huge platform isn't it for Scotland but also for businesses like yours I suppose what are you hoping that it's businesses that you're kind of scale are going to get out of cop 26 Well I think it's that kind of it's almost like a post COVID reboot and the momentum to take on the next challenge for well beyond Corvette And I ran across the Scottish and the UK takes out the kind of I guess the poison momentum on comedy scaling off and I'm pushing deep tag Has kind of allowed us a chance to kind of do a bit of a reset and really really take on these challenges and a lot of the technology development is kind of silver lightning in the cloud to COVID is that people who have the chance to walk away and focus on the things that are going to be the solutions to the next problems You've talked about Scotland's climate goals being very ambitious Are they ambitious enough Yeah There's been a lot of talk about the planes landing at four When they fly in they play over our wind farm they can compare the whole of the city of Glasgow in a generally deal with million people That was John Gama and gray Malcolm speaking there to Caroline hepa about cop 26 which happened over in Scotland as the UK government did focus on climate change earlier in the year coming up on daybreak Europe as the other corn variant spreads How have pubs actually been coping we'll hear from a recent interview with Emma McLaren and CEO.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Every 15 minutes throughout the trading day right here on Bloomberg radio So Asian stocks are in the green after earlier declines as traders evaluated economic growth risks from the virus outbreak and we are hearing this morning the world has hit a record daily number of coronavirus cases Let's start and have a look at those Asian markets Japan's topics climbed over 1% South Korea's Cosby added 5 tenths of 1% MSCI Asia Pacific is also higher nearly 7 tenths of 1% Let's have a quick check on Wall Street ahead of the open U.S. features fluctuated following the S&P 500 sixty ninth close at an all time high this year that was yesterday S&P 500 futures however or lower 8 tenths of 1% NASDAQ futures are currently flat While it's a similar picture for European futures a on they are in the red the Euro stocks 50 features are lower at one tenth of a percent Now in the commodity space WTI crude as higher three tenths of 1% Brent crude is also higher one tenth of a percent and just a quick check on cryptocurrencies Bitcoin has given up a recent advance to slide below a 50,000 the $50,000 level So that's a quick check on the data and we'll be back with more of that in the next 15 minutes But I want to bring you on to another one of our top interviews The world descended on Glasgow for the cop 26 summit Well often in plains and Boris Johnson set out the priorities for the UK government to tackle climate change and reach net zero by 2050 Caroline hep to discussed this with the chairman of the climate change committee John gummer lord debon Do you agree with those priorities He sort of laid them out as coal cash cars and trees I mean that's snappy but does it hit your metrics Well it does partly hit the metrics There's more to it than that But it's perfectly right to say that we have to get rid of coal We have to provide the money particularly for the developing countries to be able to move from where they are to the kinds of standards that we all want them to have without going through the dirty period which destroys the earth and of course we need to bring out of the atmosphere as much carbon as we can which means that we have to put those crazy and we're already committed by 2032 So low cars except electric cars or the equivalent Okay but you took a very dim view of the government's net zero strategy that came out a few months ago that it's not going to get us to the net zero emissions target by 2050 or at least it's very uncertain whether it can Well we took a dim view only of the fact that it was too sketchy We were very clear that it needed to be very much more detailed than that The net zero strategy which they had published just recently is very much better because taken on board all the program that the climate change committee has asked for And it is on that that we shall be to get speaks of a fire make sure that it delivers what it does this is actually the best and most comprehensive commitment that the world has seen The cost of it though lord deben just earlier this week the treasury also had some estimates about how much the transition to net zero emissions would cost in terms of economic growth and tax rises It's going to be expensive isn't it No it hasn't actually it's going to cost less than 1% of the gross national product every year And that's not really taking into account the advantages which it will bring The real cost would be if we don't do it And in the fact of the matter is planet change is happening It is incredibly damaging if we don't fight it and get the world back into a proper position but humanity will be enormous And in the end of course it will cost the earth in the sense that we will ourselves no longer be able to beat out Yeah the most dire outcome obviously Well what about green jobs There is this idea that the kind of that getting a handle in terms of the change in climate and moving towards a better economy will create a lot of green jobs Is there any kind of tension between the idea of better efficiency and actually creating all of these green jobs No I don't think the potential I mean the big problem of course is that you have to move from where we are to a very different world in that move there are very many advantages But of course there are bits of the economy They will not continue We won't be producing code We won't be producing oil except for chemical purposes We really be doing a number of things So we have to ensure that the new green jobs are in addition and also that they are in places which would otherwise be very empty What would be gone Yes Okay so that on jobs What would be a success for cop 26 For the world but also for Boris Johnson and the UK Well he would have known what will happen when it comes to so larger conference But already a great deal has been done that we didn't expect If you see the commitment of the United States which thank God has now rejoined the world and lest its own sort of face and become the leader it should be If you see Japan and South Korea committing to net zero by 2050 if you look at the fact that China has sided but it won't in fact in the future continue to support building a coal fired power station to outside China All these have already happened But there's much more to be done and that's what we will be doing in the week time Okay very briefly do we get the big global deal that environmentalists want Well I hope so We're working very hard for it I shall be there during my best for over that period of time and we shall see We can't possibly tell you in advance whether we will or not But we've got a lot to do We will do I think it will be made a significant move forward But you don't finish there This is a long-term project that it needs to be worked on very hard Well during kelp we spoke to a Scottish company that is at the cutting edge of green technology Caroline hepar asked doctor Graham Malcolm what businesses like his wanted out of cop.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak weekend our global look ahead at the top stories for investors in the coming week I'm Nathan Hager the COVID picture across the pond in Europe is causing headaches for economic planners but is it as bad as last time around For more let's go to London and Bloomberg daybreak Europe post Caroline hepar Nathan omo is expected to have fourth quarter global economic growth according to Bloomberg's now cast this week and much of the world is looking at the UK as a model given cases here have been rampant For more I'm joined by Bloomberg's UK reporter Lizzie burden Lizzie great to have you on the program every morning on Bloomberg radio We've been updating listeners on the daily tally of cases It's pretty grim with reported on the week on week increase How big a risk is omicron to the UK economy It's a massive question Caroline but a lot of it depends on how much the government tightens the restrictions and then how much fiscal support it offers So the Chancellor's already announced a billion pounds of extra support for hospitality leisure and culture businesses But if the rules are tightened then industry groups are asking for various other measures So one thing would be extending furlough At least for the hardest hit sectors though it would be a surprise if the treasury went that far even if it means that some viable jobs are unnecessarily lost It could extend grants to give cash injections especially for those businesses that are really feeling the cancellations or it could return to allowing small businesses to reclaim statutory sick pay and that would be especially useful when infections are so high So a lot of the ball is in the government's court at this point Yeah absolutely And a lot more will be known perhaps in the new year I mean I've spoken just in the last couple of weeks to the British beer and pub association to Mastercard that tracks spending across the UK to the founder of the entertainer which is a massive toy retailer in the UK and they've all said sort of the same thing that we've seen this very deep impact Which sectors are most affected and what have we learned to think from past waves now that we're a couple of years into this Can you believe we've been a couple of years into this Will hospitalities already take a huge blow from people voluntarily isolating even without a former lockdown But then there's the more general impact of people being asked to work from home Which they are under plan B that comes from the direct hit to economic activity as well as the indirect hit to all the businesses that rely on the custom of commuters especially retailers so Bloomberg economics reckons that could mean a 1% hit to GDP per month But you asked what we're learning from past waves Every time we have a wave of COVID we learn to deal with it better than the last So the economic impact smaller and smaller And companies have invested in infrastructure to maintain productivity even when staff are working from home And also even if we get more restrictions it's likely that compliance will be weaker and that's for various reasons People are sick of restrictions They're braver because more of them are vaccinated And it has to be said there'll be an element of defiance after so many stories about the government breaking its own rules So people be asking why shouldn't they What does the Bank of England then think of this pandemic and therefore the risks for next year Well it's a lot clearer of what the Bank of England thinks of it after the last interest rate decision It seems that concerns about inflation Trump worries about the economic consequences of a Macron And the decision was essentially the short term risk of a Macron had to be weighed against the medium term risk of inflation and the bank picked inflation which is its mandate Because it's already at its highest in more than a decade So that makes the bank the first G 7 Central Bank to raise rates since the pandemic emerged and markets are now seeing an 80% chance that it will raise rates again to .5% in February The question of whether our Macron's inflationary will come down to whether the inflationary impact of factory closures holding back supply outweighs the disinflationary impact of restrictions holding back demand So again we'll have to see how the UK government responds And the other thing I'd say that I thought was really interesting was the Bank of England analyzed how am I connell impact the housing market And so it's saying that it will actually fuel this race for space for people moving out to the burbs And that will drive price growth more than the bank's interest rate cuts in the.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Farmland makes European headquarters here in London Caroline hepar with this Bloomberg ratio business flat so the number of Londoners being hospitalized with coronavirus is rising sharply The government here holding off on a lockdown or extra measures at least for now but concern about European countries adding restrictions has hit stocks and sentiment European stock 600 yesterday dropped 1.4% There's also concern around whether President Biden will get through that enormous package the build back better plan that he wants to There seems to be some more hope with discussions between mansion and Biden but the S&P 500 yesterday shed 1.1% the Dow Jones fell back by 1.2% In terms of the markets this morning though futures are actually fire are by 1.4% for U.S. stocks 50 futures 8 tenths of 1% for the S&P 500 So some pretty volatile trading at the end of the year the nikkei two two 5 is up by 2.1% this morning Treasury yields a little changed right now training one spot four three one oil and iron ore both a boosted this morning and the lira remains incredibly volatile You had the president Erdoğan yet again stepping in with another speech talking about plans to protect savings in turkey and that has meant the Turkish Lewis spot price gaining 8% this morning after appreciated right at the end of trading late on Monday after a huge plunge It then soared some 25% So we'll continue to watch the Turkish lira as we also get Turkish consumer confidence out later this morning That's a Bloomberg radio business fashion on his own with more than what's going on around the world finding out Caroline good morning and thank you for the main.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Armor cron variant They were shot from the 27th of December which is when social distancing measures like the two meter rule will be introduced into offices and according to island national broadcaster RTE the country is considering closing pubs and restaurants at 5 p.m. today Here in the UK an investigation is now underway after four young children or believe to be related to each other died in a house fire in South London emergency services rushed to the sea net around 7 o'clock yesterday evening on collingwood road in Sutton 8 engines and 60 firefighters spent an hour and a half putting out those flames And the UK and Australia have signed a trade deal which will remove tariffs on all British exports The agreement also means 18 to 35 year olds can work and travel in Australia for up to three years at a time removing Visa conditions Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm Leanne guerins this is Bloomberg Anna Leon thank you well as Boris Johnson encourages Britain to get boosted The first minister in Scotland is going one step further in her COVID messaging Once again England and Scotland are diverging in policy with Nicola Sturgeon asking Scotts to reduce household mixing to no more than three households but the government has been issuing guidance not laws On Bloomberg Westminster this week you and parts and Caroline hepar spoke to Paul Sweeney labor member of the Scottish parliament for the Glasgow region they asked whether he'd like to see the guidance become legally enforceable across the UK Well yes I think that is the real issue because it's less business and a great area where if it's not legally specified then the qualification for insurance or whatsoever income and also the necessity of providing state support like we had before with the following scheme on compensation measures as it really there So Canada was for both worlds for a lot of sectors where there's critical areas of business going on at the same a year Lots of Christmas plates being canceled if you're getting that kind of nudge from the government to do that It certainly in my case my office of canceled the trust business as a result of the recommendation So the business is affected by that isn't going to get compensation So it's really disappointing So I think we do need to go to that official measure to try and actually make sure that thousands of jobs millions potentially billions of billions of revenue over the next couple of months as secured Do you think Nicola Sturgeon is doing a better job of dealing with amaranth and Boris Johnson Well I think the government's need to base their policy on the scientific evidence One of the big constraints that Boris Johnson has got is that has owned back ventures and they have lost confidence in them as you saw the other night with the efforts to introduce the vaccine passporting scheme he was actually relying on Labor Party votes to get that business through those commons So I think that demonstrates how difficult the government's credibility and UK level particularly after the debacle we saw at an industry with those Christmas passes last year just by training of credibility and one of the key attributes of leadership is setting an example and I think the current prime minister has really shot that to pieces as a result of those behavior But if you talk about relying on science the chief medical officer in fact seems even more determined to have tougher restrictions What about schools That's the other major issue now It's reported some schools are preparing to switch to online learning come January Do you think that's coming Would you support it if it were in Scotland I think we need to keep our options on the table on that What I would say is we've had a lot of feedback absolutely my office from teachers to seeing that the current situation is a bit of a farce when you're seeing these recommended restrictions of it no more than three households mixing indoors that doesn't seem to apply for schools We've seen threadbare efforts that are just proper ventilation measures particularly in the same year but it's quite cold expecting cautions to sit with the windows open and freezing cold temperatures I just thought realistic So mechanical ventilation has it been ruled that effectively in schools in Scotland we aren't seeing credit measures to protect staff working in schools but young people making sure we're all vaccinations to young teenagers throughout to 15 years we have only had one nation those according to the recommendations So I think we need to really address the double standard being applied to our skills just because the government is not prepared to face up to the consequences of switch back to online learning which would always have a major effect on the workforce because it will have to be major issues with child care Interesting conversation there We will have much more on British politics on Bloomberg Westminster today as we cover the fallout from the north shropshire by election You and pots and Caroline hepler will be joined by Christopher Professor of politics of royal.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"And it's 6 30 a.m. and they were in London to make good morning on Caroline hepar So we're keeping an eye on Macron the news does seem to be darkening about just how serious it is how much it could cost in terms of the economic recovery and also on China and the evergreen that shares fell this morning significantly kaisers shares trade in Hong Kong have been suspended after both officially defaulted on dollar debt So let's look at the markets there before we get into some of the issues facing the UK especially Boris Johnson the all country world index is now down a tenth of 1% The topics dropping 8 tenths of 1% This morning nikkei two to 5 also down by 1% And European futures are significantly softer even though yesterday was quite flat Day U.S. stocks 50 futures down half of 1% S&P 500 even features manage a very small gain but the S&P 500 fell 7 tenths of 1% yesterday so that three day rebound in U.S. stocks did end on Thursday And I wonder whether this is going to be another very volatile Fridays We've seen in the last couple of weeks CBOE vol has jumped back towards 22 We do get the CPI number out at one 30 p.m. London time that will be crucial for markets ahead of the fed next week The yuan fixings also have been rather interesting The PBOC setting the week is reference rate But since 2018 according to estimates compiled by Bloomberg the offshore actually trading at 6 36 now is stronger two tenths of 1% but this of course is after the yuan hit the strongest level against the U.S. dollar since May 2018 So interesting another PBOC intervention Bitcoin a bit steadier this morning after it dropped a 6% overnight And we are $70 64 for WTI crude futures Okay those are the markets Let's go to a few of our top stories now And we start with the latest pressure facing Boris Johnson with MPs due to vote on the new coronavirus restrictions next Tuesday the FT says that at least 30 conservative MPs the time says 50 are threatening to reject the measures The package includes work from home guidance and mandatory vaccine passports for entry to crowded events Labor will support the new restrictions but the rebellion by back bench Tories is becoming corrosive for the government the latest YouGov poll for the times gives the party the worst poll rating in 11 months with two thirds of voters now questioning Johnson's integrity Meanwhile the City of London could become a ghost town again after firms started telling thousands of staff to work from home in response to the latest government guidance sources say that Deutsche Bank and Nat west group are significantly reducing the number of employees working in the office for Monday And one of the largest law firms here freshfield's brookhouse dengir is telling lawyers and staff to stay at home as well And I mentioned what's happening in the U.S. today The government will issue the consumer price index and there's a very good chance that it could rattle financial markets wary of inflation His Bloomberg's Vinny del giudice Bloomberg economic says November state are set to show the fastest pace of U.S. consumer price growth since 1982 When Paul Volcker was fighting the inflation dragon at the Federal Reserve almost 7% year over year from another angle the October to November hop food and energy could account for half the month over month gain but rising cost elsewhere will put more pressure on the fed to act The needle should ice Bloomberg daybreak Europe Okay a few of our top stories then and what we're expecting today But the heat is not dying down on Boris Johnson as anger swirls around government Christmas parties new COVID restrictions and now a fine over how building works on his home were funded The paymaster general is investigating now three events that took place last year during the pandemic restrictions and not even the birth of the Johnson's second baby yesterday could act as a distraction Well one of the people calling for Boris Johnson's resignation is anti MacDonald who is the labor MP for Middlesbrough You and pots and I spoke to him on Bloomberg Westminster yesterday We asked him whether he was happy that the Metropolitan Police decided not to investigate these allegations of parties No not at all I mean Allegra Stratton was asked a question about a party that we've told didn't exist It didn't happen but if spending did go ahead it was in accordance with the rules It can't be both And it's not just one party We're now discovering that there were a number of what the paymaster general of the dispatch box is just euphemistically caused gatherings So when we go to a party to a christening or a birthday party in Christmas party it isn't a party It's a gathering I mean this is just vaccination If people just turn to Dodge the column and Dodge the issue The back and forth was rough yesterday Didn't do enough Keir Starmer when it came to if that is your view to actually holding the prime minister account Well I think you did I think exposed him for the dishonest individual that he is And people will say well should have gone further last year's resignation Well I've just done that in the last hour I've asked the promises to do the right thing and resign Because as more information emerges and it's emerged since yesterday because of the number of parties that have taken place at number 10 Downing Street We know it's a place of business but really it's in these knowledge And for people to come to the House of Commons there I was told that it was okay It was investigation to view carried out And the pair must have generally done the self same thing issues hanging behind an inquiry going to be had by the head of the civil service We need to know which civil servants were attending these events or these gatherings because there shouldn't be anywhere near this And that's where the map If the police forces of our country are going to go around a resting people and our constituencies for breaking the rules they can done well investigate these issues too Everybody is equal under book And that applies even to the privileged bullingdon boys and the rest of the people inside the Westminster They have got to be subject to the same laws of our land And it can not be that the police is simply saying we're not in interest To complain and hurt to investigate because they simply can't sidestep this one if we're going to have faith in our institutions They've got to get on with that as look at our fear or favor And this is one of those such occasions Do you think it's realistic to call for the prime minister's resignation though He says he doesn't know about these parties I mean presumably gatherings happen in a large organization without the guy at the top being informed of it It was a number 10 Downing Street Many events not just the one And for him to satisfy himself I was informed that everything was okay I'm afraid simply won't wash He should be carrying out his own investigation Coming fully armed with the information rather than hiding behind some minion who tells him everything was all I permanent So don't you worry Everything's okay You've just got to be until that's what you've been told Not good enough So that was Andy McDonald's labor MP for middles were pretty strong on the government We'll have much more British politics on bib Westminster today So it was supposedly crime week according to the government this week Hardening rhetoric a new Law & Order bill that we have in the UK we're going to bring you a special program on prisons and sentencing with the Howard leagues Andrew Nielsen cape Fraser from women in prison and Peter Clarke senior fellow at the policy exchange catch it live 12 noon today Right let's get over Bloomberg's.
Bloomberg Radio New York
"caroline hepar" Discussed on Bloomberg Radio New York
"Here in London I'm Caroline hepar with this blueberry radio business flash so as the UN's climate conference gets underway in Glasgow today we also have to watch for Central Bank decisions this week From the RBA to the fed and the Bank of England markets are pricing in more hawkish central banks policymakers though have committed to keep rates lower for longer at least the fed has the Bank of England could be the world's first major Central Bank to hike interest rates So that really is what we're looking at in terms of the bond market Of course you had that huge route in terms of Aussie sovereign debt last week This morning though the reaction in terms of bond markets U.S. yields a trading at one spot 5 6 four so up just about a basis point right now on the ten year For stock markets though relief rally in Japan after the prime minister familiar kushida's LDP defied forecasts and managed to keep hold of its majority in parliament So you see the two two 5 up by two and a half percent Right now as for European stocks they had their best monthly gain in October since March so we ended up on Friday on a high PMIs from Ireland the Netherlands Switzerland at the UK and many other European countries expected later today All at the moment trading at 83.26 WTI crude features down four tenths of 1% There is an OPEC plus meeting on Thursday and just lastly the Aussie SX 200 rises .6% at the close that happens a few minutes ago so I should mention that That is a blue vapor business flash Now here's how a jewelry would normal what's going on around the world time hammer Hi Caroline Moderna says U.S. regulators need more time to assess the use of its vaccine on teens The Food and Drug Administration is examining the risk of a rare heart inflammation before it grants emergency approval for children ages 12 to 17.