14 Burst results for "Craig Watkins"
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"Chris Philip argues that financial volatility is not just a UK problem. Across the globe interest rates are increasing. They are actually higher in the United States than they are in the United Kingdom. So pay problem. Across the globe, interest rates are increasing. They're actually higher in the United States than they are in the United Kingdom. So we are looking at global changes, global volatility. It's been happening not just in the last few days, has been happening in the last few months. The bank of Japan made an intervention in their currency market just a few days ago. That was the chief secretary to the treasury Chris Philip. Officials inside the U.S., Treasury Department are said to be concerned the volatility in financial markets triggered by the UK government's plans, Bloomberg has learned that the administration is working through the International Monetary Fund to apply pressure on Liz truss's government. Former US Treasury secretary Larry summers welcomed the intervention from the Bank of England, but said the UK is still facing serious issues. This was a market maker of last resort operation given the severe problem being created by forced liquidations associated with pension funds who had been hedging their long-term liabilities. That was former US Treasury secretary Larry summers, the U.S. commerce secretary Gina raymondo Kant was candid on Wednesday in her comments just describing trusses approach as misguided. And when it comes to pressure, it's also piling on the government from within the Conservative Party itself, quasi quantic is facing calls from MPs to reverse the package of tax cuts. The former Tory Chancellor Ken Clarke says that it's been a catastrophic few weeks for the government. I listen to the budget I was rather astounded by its contents, but they have made a catastrophic start. The budget was a serious mistake and it has cause a serious problem. That was the former conservative Chancellor Ken Clarke, while the former Bank of England governor Mark Carney has also told the BBC this morning that a partial budget during a tough global economic environment tough financial market position has led to dramatic moves in financial markets so that the tax cutting measures are working at cross purposes with the current Bank of England. Yeah, Mark Carney talking about an under cutting of some of the institutions in the UK as a result. Well, let's turn to news coming from the European Union next, which has proposed a new package of sanctions on Moscow that would ban European companies from shipping Russian oil to third countries at prices above an internationally set cap. Commission president says the EU is determined to make the Kremlin pay for further escalation of the Ukraine war. This oil price cup will help reduce Russia's revenues on one hand and it will keep the global market for energy stable on the other hand. So today in this package here, we're laying the legal basis for this oil price cap. The European Commission president, the new sanctions will also restrict the transfer of Russian wealth via digital assets like Bitcoin and will also extend the ban on steel products. And now hurricane Ian has made landfall in Florida as a massive category for storm the 5th strongest to ever reach the mainland United States. It's now losing power as it moves inland, but has left more than 2 million homes and businesses without electricity. The state governor of Ron DeSantis ordered two and a half million people to leave their homes but says that there have been other preparations. When we had hurricane Sally, you had a barge that was loose, ran into the bridge, and it knocked the bridge out. So that is something that is avoidable. And so that's been something that message has been sent down. That was the Florida governor Ron DeSantis, U.S. officials say that the southwestern coast hasn't seen a direct hit like this for around a hundred years, nearly all of Florida, home to 21 million people is now bracing for widespread blackouts and floods. Okay, those are our top stories let's get to some of the key events we're watching out for later today with Leigh Anne guerin's leann. Steven good morning and as we've been discussing the prime minister Liz truss is speaking this morning from 8 a.m. on a whole range of BBC local radio stations. Now these are her first interviews since Friday's mini budgets will be watching out for what she has to say. Also at 8 a.m. UK time we do get Spanish CPI figures and throughout the morning we're also getting regional inflation figures from Germany. The national number tracking price rises will be published at 1 p.m. UK time, but we have already had a surprise number from North Rhine-Westphalia coming in much higher than actually expected at 10.1%. The expectation for the national number is 9.5%. At 4 p.m. UK time, the BOE's hue pearl he's due to speak at an event hosted by the institute of directors, Cleveland, Fred president Loretta mester is participating in a panel on inflation at 6 p.m. UK time and the San Fran fed president Mary Daly. She shared jeweled to give a policy presentation later, this evening. We're also watching out for U.S. initial jobless claims and also GDP data, and there's going to be a huge range of ECB officials due to speak at the central banking conference in Lithuania throughout the day Stephen, so a lot's happening for us to keep our eyes on. Yeah, we've been hearing some of the lines from those interviews coming this morning the Portugal's Mario Santino among those speaking to Bloomberg today. Let's get back though to the situation here in the UK. It's been a roller coaster week in financial markets since the announcement of the mini budget on Friday, but how has public opinion been reacting to the government's policies or rejoinder by Craig Watkins CEO of kantar public in the UK, Craig, you've just published your Britain barometer poll for September and out was conducted before Fridays, many budget but after the energy package was announced. Let's start then with how the public's been viewing those steps taken for the energy market important
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"To converge that circle dot com to register and learn more. If they came in and did that, that would be worrying to the whole globe, essentially, right? You're having, that would be having a Central Bank coming in, doing extraordinary monetary easing. Reacting to a fiscal stimulus that a government has announced, right? And that would be a major economy monetizing monetizing its government's debt, which is not the path that I think the UK should go down that any government should go down. But this is just a way that they're going to calm the market for now. And hopefully, eventually, they deleted by one week, but their QT plans will go forward. There are monetary tightening plans to go forward because their aim is to dampen inflation, which is double digits in the UK. It's the time limited aspect of this is interesting as well, because as you say, it's only until the 14th of October, does that tell us that the bank is expecting things to be much better in two weeks time? Well, look, they wanted to announce a long enough time span and a big enough wallet in order to calm everyone down. And I guess that was in their analysis that two weeks of these liquidity operations at 5 billion pounds per day would be enough. And let's see if it is. We've got more inflation prints coming out from Europe today. We have the grumblings of the energy crisis brewing with Russia. There's still a lot of risk out there on what that means for fiscal spending and monetary tightening going forward. Okay, value, big picture, the rate path we had the Barclays UK CIO, William Hobbs in the radio studio just a few minutes ago. He was saying that his colleagues in the investment bank don't see tightening by the Bank of England really being delivered. Did you hear that? Yeah, I read his piece yesterday as well. So they're still going for 75 basis points in November. They think that the market is going to be highly disappointed to what they're pricing in. And the effect of that they think is that Sterling is going to take a brunt of the hit, right? So if the Bank of England isn't able to get monetary tightening off, what's going to happen? Sterling is going to have to reprice a lot lower. And that's their view. But again, in that piece, they're still quite worried about the market take away from this is that you're having a Central Bank by debt of a of a government that's just announced fiscal spending. And that is a big no no. I've always got though a little kind of cautionary voice in the back of my mind that says, are we overdoing the concern about the UK with the Bank of England intervention and in the conservative government to sticking to that line that actually their pro growth strategies are the best way forwards, they're sticking to their player, is there another way of looking at this? I get it, I get it, but look, I think governments across the world need to realize now we are no longer in a low inflation QE infinity environment, right? This is a regime shift that we've not seen for 40 years. We can't deficit spend our way out of crisis anymore when we have inflation running rampant. And we don't have a big buying operations, you know, the feds, the feds narrowed, turned theirs into quantitative tightening, the ECB is looking at flipping and doing the same. This kind of easy capital access isn't around anymore, and that's a big wake-up call. Yeah. It's certainly his following. Thank you so much for being in the radio studio this morning. Bloomberg's value title then giving us the nuts and bolts of what the Bank of England did yesterday what it means for markets and for the government regime changes what Valerie is saying and governments have got to get used to it. Yeah, interesting to see there's a piece from John authors on the terminal this morning saying that the UK can not afford to look at this ridiculous pointing out the Bank of England has saved guilt for now but the scoring and political danger are for less trust and for quasi quiet and still have a long way to run. He believes that it could cut their careers short because of this, of course, extraordinary intervention by the Bank of England yesterday and the prime minister will be speaking for the first time since this happened to local radio stations around the UK today and will doubtless be facing questions from people who are worried about not only the weaker value of the pound and what that might mean for the broader economy, but also for their pensions because this was a move that was basically formed around concerns about what could happen to pension funds and as Valerie was just telling us there'll be a lot of people looking to see what's happened to the value of their pensions and if they have any investments what's happened to their investments as well. So this is at a granular level. There is concern as much from individual consumers as there are from wider market participants. Yeah, absolutely. But I think it's going to be more immediate than that. It's about people's mortgage costs going up and the cost of borrowing for businesses skyrocketing. We were talking about that just earlier this week. You're listening to Bloomberg daybreak Europe. It's just about coming up to 7 30 a.m. and so I want to also mention that we've got a very interesting dick guest coming your way in just a minute, Craig Watkins, who's going to give us the political take in terms of the popularity now of the government and labor's chances because we are fully in conference season near the Conservative Party meant to be going off to Birmingham over the weekend to have their kind of annual shindig what will that look like? We'll bring you all of that in just a few moments. First though, let's give you a check on the markets as we're just gone 7 30 here in the City of London, Euro stocks 50 futures are three times 1% lower S&P many futures 7 tenths lower, the bounce and equity market seem to be dissipating in Asia the hang seng in Hong Kong now turning into the red. It's now 6 tenths of 1% lower tech sharers among those seeing a sell off on the bond markets the U.S. ten year treasury yield is 9 and a half basis points higher this morning, three spot 83 and we are starting to see a sell off on bond markets as European bond trading gets underway. The German ten year yield now two spot 21 that's 9 basis points higher of course the high but a big rally on Barnes yesterday in Europe, this has received the Euro three quarters of 1% weaker in 96, 61 as well as trading against the dollar cable is 1% weaker at one O 7, 78. Those are the markets, let's get to our top stories, the Bank of England staged a dramatic intervention in the markets to stave off a crash sparked by last week's mini budget, the Central Bank was forced to pledge unlimited purchases of long dated bonds to prevent a major crisis within British pension funds after a first purchase worth a billion pounds yesterday. The operation will continue every weekday until the 14th of October, it means the bailout could reach more than 60 billion pounds. Now the government says that there is no plan to reverse the tax cuts which triggered the turmoil, the chief secretary to the treasury
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"The government insists that it's taking direct action to help households with 37 billion pounds worth of support. British gas meanwhile says it will give 10% of its profits to help the most vulnerable energy customers. In the United States a de Jackson hole meeting of central bankers kicks off today, investors are focused on fed chair Jerome Powell's speech on Friday. This is U.S. inflation is near its highest level in 40 years. Kevin Cummings, whose chief U.S. economist at Nat west says that Powell will signal his intent to keep tightening monetary policy to fight inflation, Nobel laureate Christopher Sims says though that he thinks global inflation is unlikely to come down any time soon. I think that it's going to be at least months, at least into next year that it will be above target levels. Whether it stays above target levels longer than that, it's hard to predict it depends on exactly how policy involves as we go forward. And of course, as we've learned, there can always be a new unanticipated shock that pushes it up or down. Of course, the way the Ukrainian war goes could have a huge impact and that's very difficult to predict. That was Princeton Professor of economics Christopher Sims speaking there, pal's speech will happen at 10 a.m., Washington time, 3 p.m. here in London. Now, China is stepping up its economic stimulus with a further a $146 billion of funding mostly for infrastructure spending as the economic recovery slows and made COVID lockdowns and the property sector crisis, the State Council in China has outlined a 19 point policy package, including allowing state banks to invest further in infrastructure, economists were relatively downbeat on the measures while financial markets were muted Goldman Sachs economists said the measures won't be enough to lift the overall growth rate from the 3% they're projecting. President Biden's administration has won a judge's order ensuring women in Idaho can get abortions less than a day after losing a similar fight in Texas, Bloomberg's Ed backs that has the story. The Idaho lawyer defined the right to abortion to a woman whose life was in danger. The judge ruled it too narrow and then ruled that there would be no prosecution of doctors who perform abortions in an emergency. Now just yesterday a Texas judge ruled the other way. The conflicting ruling show the patchwork of abortion laws on the books, but it does give the Biden administration some precedent to continue to pursue cases. In San Francisco, Ahmed Baxter Bloomberg daybreak Europe. Those are our top stories. Let's get to some of the things that we're watching out for later today and guarantees back with us in the studio early on what have you got for us. Stephen, good morning to you. So 9 a.m. UK time we get the German ethos survey. This is usually one of the best indicators of the country's growth. However, we may find out today that that is slightly sunk due to the war in Ukraine so we'll be watching that closely. At 1230 p.m. UK time, the ECB will publish the account of its July policy meeting, then at one 30 p.m., we'll get some U.S. data, including GDP and also initial jobless claims, followed at two 30 M by Tesla shares beginning trading on a split adjusted basis following shareholder approval of a three for one stock split. Now that happened earlier this month, later today, the Kansas City fed hostess annual economic policy symposium in Jackson hole, which is in Wyoming, we've been talking about that all morning, while here in the UK, I know some people might be a bit nervous, but pupils are going to get their GCSE results this morning, and that's after sitting exams for the first time since the pandemic, and it's expected grades will fall from last year, but will remain above those from 2019, so good luck to parents and students out there getting their results. Good luck some of the anger and thank you very much. Now, drastic measures are needed, that is the growing consensus in the UK when it comes to energy bills. Consumer confidence has plunged, but there is growing evidence that business confidence is in freefall too. All of this ahead of the announcement on the energy price cap tomorrow, polling by Cantor shows that actually 7 out of ten people in the UK now think the government should take action to tackle the rising cost of living, joining us for more is Craig Watkins, who's the CEO of cantar public UK, Craig. Welcome back to the program. Thanks for being with us. What sorts of measures do the public want that the government to take out? How quickly? So there's, as you mentioned, over 70%, black measure introduced it now and not waiting for a new prime minister. And when we've asked a variety of measures such as removing the AT from energy bills, taking measures to improve energy efficiency, increasing the energy discounts windfall packs, and even temporarily nationalizing energy companies. We see broad support across the political spectrum for all of those measures. Above 84% for removing the at and even with nationalization above 60% and thus shared with Tory and labor voters. But that's interesting. The idea of there being such a clear opinion on such a headline measure how much is there concern among polling people about the general economic situation and how worried people are going into the winter. So I think that that broad support is indicative of the fact that people very much see this as a crisis and unprecedented crisis. And we've got three quarters of people thinking that the British economy is now doing worse. We've got to overhung the population chain that view is just going to get worse. And that's the highest figure we've seen in over a decade. And 6 and ten people are finding it harder to meet their monthly budget, which is again an increase on where we were last month and an increase on where we were last year. It's not just the cost of living issue, though, there are other big problems that voters perceive. The NHS in particular yeah, so we've seen consistently that concern about needing to invest in the capacity of the NHS and that's remained kind of a key concern for voters. But also now what people are also concerned about is energy shortages over the winter, which is obviously something kind of quite new. Coming into your thinking? So how does all of this play into the Tory leadership battle then? What is the public opinions of lez trust versus Rishi sunak as people to tackle these problems? So basically increasing and certainty, I mean, we've seen an increase on the number of people over 51% who don't know who they would prefer. If you look at the general population, 26% of people want where she soon act overly stressed at 24%. So that's the kind of a slight lead for ishii. Amongst toy voters, this trust still in the lead, but her lead has dropped over the last month and an increasing number of people who don't know. So I think there's a lot of uncertainty and the longer the leadership conference goes on. The more that uncertainty seems to increase. Okay, Craig, very interesting. Thank you so much for your time this morning, Craig Watkins, CEO of kantar public UK. I think that's pretty fascinating given that economists effectively seem to be pretty much hands down in favor of Rishi sunak for handling the economic crisis or the argument has gone more in his favor. Even though Liz trous worked at the treasury for some time, but obviously the
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"With a margin loan tied to his Tesla stake in exchange filing reveals his increasing the size of the deal's equity component to 33 and a half $1 billion The new structure could reduce the risk of the deal for both Musk and his lander chassis stock prices slumped by sunk by around 40% since Musk first announced his stake in Twitter in early April The chip maker Nvidia tumbled in late trading on Wall Street after saying that sales for the current quarter likely to miss projections Revenues are now expected to be around $8.1 billion supply chain issues in China and the war in Ukraine are both weighing on its bottom line but revenues had a strong start to the year growing by 83% in the first quarter which was above estimates And apple is planning to keep production of iPhones roughly flat this year at around 220 million units according to people familiar with the matter This comes as the U.S. tax giant says it will raise salaries by 10% for American workers as it seeks to compete with talent in an increasingly tight job market The iPhone maker will hike the minimum hourly pay for staff to at least $22 That follows a pay bump in February after inflation worlds and complaints from some staff global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries This is Bloomberg Caroline Thanks Stephen Now the government here is trying to draw a line under the part gate scandal and focus on the cost of living crisis with a major announcement expected from the Chancellor Vichy sunak later today well what do voters want to see in that sort of package cut in vat on energy bills according to kantar public joining us now is Craig Watkins who's the CEO of Cantor public UK with your may barometer Craig thank you so much for being with us Now the public seem to give the government very poor marks on how they have actually handled the economic crisis so far don't they Yeah no absolutely Caroline I mean we have a reading of over 80% people saying that the government has handled the cost of living crisis poorly and if you look at women within that data it's over 90% So 9 in ten women telling the government that they've handled this poorly What then do people see as the solutions So it's kind of very clear from the questions we were asking about people's priorities and it's very much around energy So over half of people are saying that the government should just remove the AT from energy bills And that increases with age So that as people get older working HP people over 65 we're seeing 68% of people saying that we then have the next kind of largest the most popular option is that the government should introduce a windfall tax but that should be used to fund support for household energy bills So 44% of people saying that again similar pattern with all the working age people then it's fueled duty of 41% And interestingly a third so kind of less than the others saying about reducing impact So it would seem to indicate that what people want to see is action on the cost of the commodities that they're having to buy That's where they want to see the direct reduction And just exactly how pessimistic are consumers I mean is this sort of peak pessimism do you think in the UK given we know that bills are going up Perhaps if there's some help from government is this peak pessimism So certainly from the figures that we have and tracking back to when we started in 2011 tracking this This is peak pessimism I mean we have 68% of people thinking that the economy is doing worse than it was a year ago that's up 6 percentage point over three quarters of women think that if we then look to the future over half of people think that the British economy will be doing worse in a year as time that up 7 percentage points and almost two thirds of people are finding it harder to make that monthly household budget and this is the highest figure we've seen since 2011 And again we're seeing this as a much higher figure in women at over 72% Craig you also were asking people about the Northern Ireland protocol the ongoing debate about the UK's relationship with the EU regarding the border between Ireland and Northern Ireland voters it seems are as confused as politicians about how to fix this I think that's absolutely right Completely different the cost of living in terms of where people are very clear People are very unclear about what they think should happen So we have pretty much a kind of an equal split of 38% of people saying that they don't know what the government.
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"For this year that could maybe be well under the cost of inflation Well I mean if inflation plan I mean the government has been more than 3% in the payroll this year So if that is going to happen and we hope to review bodies take the different views then you're basically saying to people that pay rise would be wiped out and more because of the inflation And I think I would be less than concerned about industrial action and more concerned about the sheer loss of stock we would experience if paid doesn't even attempt to keep up with inflation We talked a bit about the market rate to pay actually quite a lot of NHS jobs on fairly vulnerable to improved pay in the retail sector and the very often you do be an immediate impact in health and social care if you opportunities open up in retail So I think that could be very damaging So that was John resto speaking to us on Bloomberg Westminster talking about the dilemma for the NHS the long road to try to dig the health service in the UK out of the pandemic whole There are simply so many backlogged cases So also on Bloomberg Westminster today at lunchtime we're going to be speaking to the conservative MP for north Wiltshire that's James gray and we'll be finding out what British people are actually thinking at the moment with kantar public UK's CEO Craig Watkins this of course after we had appearances yesterday from both Rishi sunak the chance of having to defend his spring statement last week he was defending that in front of a treasury select committee that was pretty pointed in its criticism of him Asking him whether he really is a tax cutting Chancellor he had to defend himself on that And also Andrew Bailey was speaking in Europe yesterday saying that the UK is facing an historic hit to real incomes that will weigh on demand and growth in Britain and also start to pull down domestically generated inflation.
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"Good morning Caroline good morning to you and as you said Russian forces are attacking targets across Ukraine after president Vladimir Putin announced a military operation in the east of the country explosions have been heard in the capital city Kyiv Bloomberg's Anne Marie Holden a reports Russian president Vladimir Putin in a televised address ordered a special military operation to quote protect the donbas region of eastern Ukraine He cited the need to demilitarize the country and accuse the United States of crossing Russia's red line by expanding NATO We were heard from U.S. president Joe Biden in a statement He said that Putin has chosen a premeditated war that will bring a catastrophic loss of life and human suffering Biden will speak with G 7 counterparts tomorrow and then address the American people to announce further punishments for Moscow That was Bloomberg's Anne Marie horden reporting for us from Washington Meanwhile speaking before Putin's announcement Ukraine's president Vladimir zelensky made this appeal We don't need a cold or hot or hybrid war But if we are attacked by troops if they try to take away our country our freedom of life the lives of our children we will defend ourselves Meanwhile Putin says Russia does not plan to occupy Ukraine but says America has crossed a red line with NATO expansion President Joe Biden says a U.S. will impose severe sanctions on Russia condemning its military action as unprovoked and unjustified Biden says he will outline the punishments in an address to the American people later today Earlier on Wednesday the president expanded sanctions against Russia with new U.S. penalties to today Earlier on Wednesday the president expanded sanctions against Russia with new U.S. penalties hitting the builder of the Nord stream two gas pipeline and its corporate leadership and finally we also going to stay with that story but we're going to talk about how the UK are reacting And explosions have been reported near Kyiv the UK government says it is working closely with allies to verify reports saying an invasion would incur severe costs Meanwhile the UK's media regulator will review the license of Russian news channel RT as Bloomberg's Charles cable reports The UK's culture secretary Nadine Dory's wrote an ofcom yesterday's citing concerns over broadcasts such as RT she said it is essential the UK looks to limit Russia's ability to spread their propaganda RT which was formerly known as Russia today is licensed under a company that is funded by the Russian state ofcom says RT said in a statement it was operationally an editorially independent from all governments labor leader Keir Starmer called for RT to be prevented from broadcasting in the UK in parliament on Wednesday to which the prime minister replied it is important that matter is left up to ofcom in London Charles cape or Bloomberg daybreak Europe And we are just hearing EU leaders are to discuss further sanctions on Russia later today Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Leanne gerrans this is Bloomberg Caroline Thank you so much Leon goens with our top stories We'll have more on the UK reaction British politics on Bloomberg Westminster at lunchtime while unpack the UK's response to the latest in Ukraine with Richard drax who is conservative MP for south Dorset also he's a former captain in the British Army and will take a look also at the latest polling with Craig Watkins from kantar public So this is a significant moment also for the UK's foreign policy catch that live 12 new UK time or download the podcast later from Apple music or your preferred radio app Right let's swiftly go to Moscow now this morning where our Bloomberg editor Tony happiness is standing by good to have you on the program Why is Vladimir Putin launched an attack on Ukraine despite the warnings and the months of diplomatic efforts Well he made an early morning television address to Russia which he said that Russia didn't plan to occupy both the U.S. which is across the red line and Russia's operation was intended to demilitarize the country as you put it Inevitably though this means that there's conflict and Russia and Ukrainian forces are facing off against each other The Ukrainians say that they will fight and they will win can they without NATO help Well I think there's no doubt the Russian forces are overwhelmingly superior strength for numbers but the question is what Putin was also intentioned by He says you have a very special occupying territory But officials have been reporting explosions near Kyiv and other cities and attacks of not only military infrastructure but border facilities as well So at the moment simply remains to be seen how far Russia intends to push this operation and more importantly how operation can be brought to a halt The EU the U.S. the UK have promised more sanctions tougher sanctions They don't seem to have worked so far What could we see What might have an effect Well I think this is what we need to understand from President Biden and the European Union This is news now clearly from warnings and threats to fighting and forth and the response from the west will clearly have to be a great deal higher than it's been up to now if they make good on their pledge to punish Russia for these actions The Moscow exchange is distinct trading so far in all shares I think the ruble but the rebel has already we can considerably anything we can see that they'll be fairly.
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"Very regressive tax it will hit poorer people pay greater proportion of it in comparison to income tax And people who are cash rich but don't have earnings won't be paying any of it at all So we think that it was the wrong tax to raise We said that at the time I think you're right There is a sense that this prime minister will do almost anything whether it be remove COVID restrictions change tax policies or anything else if Tory MPs will allow him to carry on in the job So I think he's potentially off for grabs And I think it's doing worth fighting for Now labor backed COVID passports They backed the mask mandate They're both gone from today in England As hospitalizations seem to be relatively low is the government right to do that I think we will definitely make sure that they went through in the first place We wouldn't have gone through without the support of the Labor Party It should remember that And I think that those restrictions that came up before Christmas were propulsion and I think they probably were In terms of masks on public transport now I think we should carry on with that It's a very minor imposition on our lives And I think it's a sensible one So that was Bloomberg Westminster We were speaking to the labor MP Toby Perkins We'll have much more on politics later today I'm going to be speaking to this market's Matthew who has the odds on whether Johnson will say or go Craig Watkins also the pulsar from Kanter will be joining us And we'll have that all at 12 noon at lunchtime today Look I think that really one of the key issues in the coming weeks I mean yes as the Bank of England and decision but more importantly there is Rishi sunak spring statement on the 23rd of March So that's the key date in terms of whether the government does hand out some more cash to people And to your point Rishi sunak is the gatekeeper on this decision this controversial decision around the rise in national insurance which he and the party the cabinet have until recently said is needed to pay for NHS And was passed by parliament And was passed by parliament but of course Boris Johnson is coming under pressure from his own back benches to walk that back and maybe this is a car he plays a populist movie plays as he tries to juggle and navigate these political pressures he's under as a result of party game Yeah absolutely and as a result of inflation prices to 5.4% in December I mean nobody talks of anything else really than prices rising You know if you're out and about at the weekend but yes and also his prime minister who's now perhaps becoming pretty well known for U turns even when they are approved by parliament So interesting Away from the politics though let's also talk about the markets because what a week in terms of digesting the pullback of.
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"30 a.m. in London I'm Tom McKenzie But I've Caroline hepco will welcome to put it back day breakup In a moment we're going to hear from one of the conservative MPs who rebelled against the government this week in terms of passing the legislation around additional COVID measures She talked a lot about competence the issue of competence with the prime minister clearly pointed to Boris Johnson that in a moment As we continue to see this overcrowd wave hit the UK of course it's Central Bank super Thursday What is the Bank of England going to do with that information Currently the 7 day moving average of cases is about 58,000 in Britain Right now those stocks in Asia mostly are after the Wall Street rally after the FMC quite surprising in some ways that there was such a rally for U.S. stocks but it looks as if markets are confident that the fed could have or this mythic soft landing futures at the moment are S&P 500 even if above the 4700 40 4716 so up by three tenths of 1% U.S. stocks 50 feeds is also up by currently 1.7% extremely strong view of what is going to happen at the open here The dollar at the moment is flat to slightly higher U.S. yields again fairly flat as what it was about four 5 6 So there's the markets Okay now into some of today's top stories and England's chief medical officer is warning that the UK faces an inevitable surge in hospital admissions from that omicron variant His Bloomberg's Charles capel with more The warning came after the UK reported that the most new coronavirus cases since the pandemic began Some 78,000 new cases were reported at a press conference after the data was released Chris whitty the chief medical officer for England said substantial numbers of people will be hospitalized adding that it is moving at a phenomenal pace which he called for caution over early data from South Africa that suggested it may cause less severe illness than previous variants saying that the amount of immunity in the country may account for the difference in London Charles capable day for Europe And of course that cool for Chris witty to cut back on Christmas socializing is worrying hospitality businesses trade body UK hospitality forecasts that public restaurant earnings will be down as much as 40% for December due to cancellations That's led to fresh calls for government support for groups like the CBI the federation of British industry who argue that the plan B measures are instilling a lockdown mentality Okay let's turn to Central Bank news then and start with the Federal Reserve taking as Carolina was saying one of the most hawkish pivots this year Bloomberg's Vinny del duodo reports With U.S. inflation raging fed officials favor lifting interest rates at a faster pace next year three times The Central Bank is also doubling down on tapering its bond purchases that help keep it lit on interest rates Fed chair Jerome pal tells reporters price increases have been larger and longer lasting than anticipated Pal also rejected the idea that he held off on a hawkish tilt until The White House tapped him for a second term Vinny del judice Bloomberg they break Europe And now that we've heard from the fed it's time for Central Bank super Thursday First up the Bank of England with the decision on a knife edge for a second meeting in a row Bloomberg economics says that while data make the case for a rate hike uncertainty about points to a hold and then it's the ECB's turd with the Central Bank expected to announce the end of the pep program and the expansion of the asset purchase program for Europe Well let's move on now away from the Central Bank decisions and talk about the UK has Boris Johnson lost his authority over the Conservative Party after facing a major rebellion over new COVID restrictions That is the big question Why don't people who voted against the new curbs was admirably Morris whose conservative MP for Newton abbot endeavored you and parts that I spoke to Morris on Bluebird Westminster where she told us it is all about competency when it comes to the prime minister We asked her whether she thought that the number of MPs who were expressing that dissatisfaction with number ten has been Whether a lot of her colleagues agree with her in terms of what's happened with no ten That's a very interesting question And I think it must be true that the value of the case in some decisions on both sides But I think the reason people voted the way they did were quite varies And I think therefore you're right to race the .1 I think there was a large chunk that were very concerned about the proposals themselves Not just because of what those did but because of the direction of travel that you'd set I mean I have this old out but we are going to find further restrictions It may well be that it will be by guidance by legislation particularly given last night boat but more restrictions I'm sure there will be Okay so you do think that is there a leadership challenge then for Johnson come the new year I think with regard to leadership challenges we grew about competence isn't that ultimately that's what makes or breaks a prime minister and is tenure And I think at the moment there will be questions with those other questions around competence And that's partly about how the plan is addressing some big policy issues But it's also I think about an inevitably I have to say in those party data and various other issues out there Because it seems to me that a prime minister has to be competent in the way he doesn't a country competent in developing and delivering policies but they also have to be competent in dealing with good and bad news and they also have to be competent in that when they say a direction of travel when they set legislation They comply with it Okay Anne Marie do you think that the prime minister is competent I think that that question is very much in the multi part right now I do have some concerns about the way this COVID matter is being addressed and you can see that from what I've said and the way that I've voted And I think for me we're going to have to look at I'm going to have to look at Where is he going with this COVID Do I feel managing this competently and responsibly for the public But I'm also going to be looking at some of the other big policy areas whether it's environmental policy whether it's planning policy where housing policy all of which have very significant impact for all of us and my constituents How many of your colleagues agree with you on that competence question I think most would agree that what is really all about I mean I'm sure that you're going to be suggesting that there will be some who are looking at it through the in terms of their survival the chances of them being reelected common elections And clearly they will be some that think about it in those terms But I think for those particularly those who have been here for a long time it is about competence So that was our Marie Morris that conservative MP for Newton Abbott endeavored openly critical questioning of the prime minister This is a swift turnaround for just a couple of years ago when he won That landslide election victory will have much more British politics today on Bloomberg Westminster including actually British polling What does the public think currently cantos publics CEO Craig Watkins will be joining me at 12 nude catch that live today or download the podcast late on Apple music or your preferred radio app Right let's get over to provoke and Garret with the latest and worldviews for more day Caroline good morning and thank you Germany is rationing COVID-19 vaccines through the rest of the year made a surprise shortage.
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"We won't be producing oil except for chemical purposes We won't 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 you would never know what will happen when it comes to so large a 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 less disposed of face and become the leader it should be If you see Japan and the South Korea committing to the 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 Fortnite We start doing 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 Nor Devon thank you so much for your time I really appreciate you coming on Bloomberg radio the chairman of the UK's climate change committee John gummer there speaking to us ahead of the cop 26 summit in Glasgow He goes on to speak to my colleagues on Bloomberg television so you can always catch that on your terminal or live on TV in just a moment so fascinating really Yes and there is optimism isn't there about getting an agreement with what the 120 countries that are meant to be coming to the UK but also doubts about whether Britain has put in enough of the legwork ahead of this massive summit to get a really big and impact in terms of the global commitment Right those are interview with John gummer Let's also go to another top interview I think I was still thinking about that interview with lord Deborah Let's bring you the latest in terms of the Cantor research that I was talking about yesterday So the latest research of the public shows that actually 43% of Britons are really worried and report that their household income has fallen behind the cost of living because of rising food and fuel prices Plus a growing number are worried about not being able to afford to keep their homes warm enough this winter I spoke to Craig Watkins the CEO of canter public UK on Bloomberg Westminster yesterday I asked whether peak economic optimism has now waned because of household bills piling up We still see a very kind of strong view of people thinking that the economy is going to be doing worse in 12 months time than before And as you've mentioned four in ten people reporting that they're seeing a household income for but also that they're finding it harder to meet their monthly budget And this is an increase of nearly ten percentage points since last month So within a month we've had a significant shift in people experiencing not just thinking about what the economy is going to be like but experiencing it harder to meet their bills That is a big change in just four weeks Food and fuel must be top of that list I mentioned home heating I mean the petrol crisis in the southeast was severe but inflation in terms of what people are buying to eat that they're feeling that really Yeah and people are there's a couple of things that have come through the research So 7 in ten people saying that they are concerned about that the price of fresh food will increase over the next few months We see similar figures around the price of petrol and diesel But also where then not just seen a concern about the price but concern about shortages at similar levels 60% of people saying that they're concerned about potential shortages of food and then actually people experiencing shortages So nearly 40% of people saying that they have found it more difficult to find petrol and diesel not surprising but three in ten reporting that they're finding it more difficult to find fresh food than they did three months ago Yeah gosh that is surprising people are really yeah those are those empty shells the pictures people are seeing that for themselves also though it was a big change because the furlough scheme came to an end at the end of September and there were nearly a million people who were still being supported by that government program so perhaps in that context you know is that also what's playing in people are worried about their job Certainly we could see that kind of coming through in terms of people I think what we've also kind of picked up from our questions is that people have a more negative view of how the government has supported people So on the one hand we're seeing nearly 50% of people saying that government support for people who have lost income has been poor or very poor that's higher than the people that think that it has been good But also a higher percentage of 56% which has gone up by 8 percentage points against last month saying that the support of government is giving to companies that face closure and revenue losses as poor which could be related to what we're seeing with the energy sector It could be related to stories about businesses with supply chain issues that are having to close And definitely a more negative view about government intervention and support for companies and for people So that was Craig Watkins the CEO of canto public UK speaking to me on bube Westminster yesterday about how worried a UK consumers are now consumer confidence dropping Well part of that reason is supply chains We're going to talk that in a moment Let's go to a data check though It's now 7 32 a.m. here in London I'm.
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"A.m. here in London I'm Tom McKenzie All I'm Caroline hepco will welcome to blueberry daybreak where in a moment we're going to get into consumer sentiment here in the UK Yeah there's some optimism in the markets the S&P 500 open the U.S. closing at a record There's a bit of a down mood in terms of technology on the back of some earnings out of snapback dragged on Twitter Google and Facebook but there's relief in Asia over the fact that evergreen at major real estate developer in China has managed to make a bond payment so the developers in Hong Kong rallying on the back of that the futures here in Europe pointing to the gains of 6 tenths of a percent of suggesting we're going to go positive final day of the week The futures over the U.S. are slightly different picture down just a tenth of a percent just focusing in on the price action over in Asia then You're seeing the Shanghai composite down by a tenth of percent but over in Shenzhen you're seeing gains of 8 tenths of a percent more broadly across the Asian space the MSCI Asia Pacific just about holding onto gains of a tenth of a percent the tech shares over in Hong Kong and the Chinese tech shares doing very well up one and a half percent And in Japan you're seeing the nikkei gaining four tenths In terms of your currencies the Euro dollars at one 16 the dollar index the Bloomberg dollar indoors is just slightly softer at this morning So some relief for emerging markets you'd have thought on the back of a slightly weaker greenback the U.S. ten year yield is below 1.7 so it's currently 1.68 The yield just coming off in the first few hours of this session And in terms of the two year looking at 44 basis points on the U.S. two year in terms of the energy complex Brent is trading at $84 a barrel and crypto Bitcoin is below 63,000 current trading at 62,800 Okay those are the markets Let's go on to our top stories today The Bank of England chief economist Hugh pill has told the FT that the rate setting decision for November is live The debate on whether to hike is finally balanced though he said adding that the inflation surge is uncomfortable But three X MPC members expect the status quo to hold they noted not a single policy maker has voted for higher rates during the pandemic Staying with Central Bank news the Federal Reserve will ban top officials from buying individual stocks and bonds as well as limiting active trading More from Bloomberg's Charlie pellet It will also restrict active trading after an ethics scandal led to the departure of two regional presidents and risks confidence in the Central Bank In a statement fed chair Jay Powell said these tough new rules raise the bar high in order to assure the public we serve that all of our senior officials maintain a single minded focus on the public mission of the Federal Reserve The fed has been under fire for embarrassing revelations by a few top policy makers as the Central Bank aggressively fought to protect the economy from COVID-19 in New York Charlie pallets Bloomberg daybreak Europe Meanwhile in China evergrande has pulled itself back from the brink of a default by paying a bond coupon before this weekend's deadline so the developer transferred $83.5 million in interest payments at two bondholders will receive that money before Saturday The payment was originally due on the 23rd of September markets received the news positively shares of Chinese developers surged for a second day in Hong Kong And in top corporate news snap plunged as much as 27% post market after it lowered its earnings forecast for the fourth quarter third quarter sales missed estimates the SnapChat owner cited changes to apple's data collection rules and supply chain issues as weighing on advertising spending snap expects revenue of as much as 1.2 billion U.S. dollars in the final three months of the year That is below analysts projections Like a few of our top stories this morning let's go to one of our big interviews The latest research from kantar public shows that 43% of Britons report that their household income has fallen behind the cost of living with rising food and fuel prices Plus a growing number are worried about not being able to afford to keep their homes warm enough this winter Now I spoke to Craig Watkins the CO of kantar public UK on Bloomberg Westminster yesterday and I asked him whether peak economic optimism has now waned as household bills pile up We still see a very kind of strong view of people thinking that the economy is going to be doing worse in 12 months time than before And as you've mentioned four in ten people reporting that they're seeing the household income fall but also that they're finding it harder to meet their monthly budget And this is an increase of nearly ten percentage points since last month So within a month we've had a significant shift in people experiencing not just thinking about what the economy is going to be like but experiencing it harder to meet their bills That is a big change in just four weeks Food and fuel must be top of that list I mentioned home heating The petrol crisis in the southeast was severe but inflation in terms of what people are buying to eat that they're feeling that really Yeah and people are there's a couple of things that have come through the research So 7 in ten people saying that they are concerned about that the price of fresh food will increase over the next few months We see similar figures around the price of petrol and diesel But also where then not just seen that concern about the price but concern about shortages at similar levels 60% of people saying that they're concerned about potential shortages of food and then actually people experience shortages So nearly 40% of people saying that they have found it more difficult to find petrol in diesel not surprising but three in ten reporting that they're finding it more difficult to find fresh food than they did three months ago Yeah gosh that is surprising people are really those empty shelves the pictures people are seeing that for themselves also though it was a big change because the furlough scheme came to an end At the end of September and there were nearly a million people who were still being supported by that government programs so perhaps in that context is that also what's playing in people are worried about their job Certainly we could see that kind of coming through in terms of people I think what we've also kind of picked up from our questions is that people have a more negative view of how the government has supported people So on the one hand we're seeing nearly 50% of people saying that government support for people who have lost income has been poor or very poor that's higher than the people that think that it has been good But also a higher percentage of 56% which has gone up by 8 percentage points against last month saying that the support the government is giving to companies that face closure and revenue losses as poor Which could be related to what we're seeing with the energy sector It could be related to stories about businesses with supply chain issues that are having to close And definitely a more negative view about government intervention and support for companies and for people So that was Craig Watkins the CEO of canter public UK speaking to me on Bloomberg Westminster about British consumers Well we'll have a lot more on politics also on previous Westminster today I have a special program where we're focusing on women's safety in the wake of a number of high profile murders the politics around tackling violence against women and girls will be speaking to the charity refuge and also to foreign nazir who is the CEO of women's aid so catch that live 12 noon UK time download the podcast.
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"Good morning and thank you the queen spent Wednesday night in hospital for what Buckingham Palace has called preliminary investigations her majesty who had been ordered to respite doctors has since returned to Windsor Castle It's believed the 95 year old monarch immediately did resume her duties now New Zealand is setting a 90% vaccination target to east coronavirus restrictions prime minister John cinder Ardern says once 90% of the population aged 12 and overs fully vaccinated virus measures will begin to ease a new traffic light system to gauge the level of risk in each region will also be introduced an actor Alec Baldwin has fired a prop gun on set that caused the death of cinematographer helene Hutchins and wounded director Joel Sousa the incident happened on the set of the film a rust and New Mexico yesterday the local sheriff's office says no one was arrested in the incident and no charges have been filed A spokesperson for Baldwin says there was an accident involving a misfire of a prop gun with blanks 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 amn guerins this is Bloomberg Tom Thank you very much indeed Okay back to the latest on China evergrande the distress developer avoided a default by paying a bond coupon before this weekend's deadline according to Bloomberg's sources the developer has wired the $83.5 million payment and bondholders will receive funds by tomorrow something of a surprise Let's bring in chief China markets correspondent severe haute Costa for more Sofia what do we know How do they get to this point and how significant is this in terms of the stress the pressure that is on evergreen Tom as you said quite a surprise And you can see that in the market reaction today we have a China high yield bonds heading for the best week since 2012 and developers really rallying in Hong Kong stock market as well Heading for the best week since 2012 and developers really rallying in Hong Kong stock market as well So the announcement is a surprise This is just essentially what analysts are saying kind of kicking the can down the road China evergrande avoiding a default on Saturday but they still have 300 billion U.S. dollars of liabilities to pay And it's still very unclear a lot of unanswered questions there on how the company will raise those funds We don't know how it found those 83 $.5 million to pay that coupon But evergreens has another coupon as soon as next week So the question is will this be kind of a weekly thing Whenever ground has a coupon or a payment due that this kind of stress where we're wondering whether this is the time that ever grant defaults and then it kind of pulls back from the brink on an 11th hour Is that going to be the state of play going forward until ever ground finds a solution And the questions are how will ever ground find a solution How is it going to repay the debt Hasn't been any announcement on steak sales or on a creditor Negotiations So still a lot of questions that we don't know the answers to And I suppose the biggest one being how much does Beijing intervene and support or help this business and again I mean regulators have tried to reassure markets but what is the moment the state of play with intervention from government here That is a very important point And something that I think we should be mindful of is that comments from policymakers not just the PBOC the Central Bank but also the banking and insurance regulator have really centered on contagion from evergreen and how China plans to control that really reassuring markets that China will step in to avoid a really financial market meltdown And derailing the economy But they have said that ever ground is a special case It is one company behaving badly essentially One instance of leverage gone wrong So policymakers aren't publicly supporting evergreen And the fact that the deal that fell through this week with hopson was reportedly due to lack of support from the Guangdong governments that really suggests that we won't get any intervention directly into evergreen and helping evergreen But Beijing will very much stand by to ensure that this crisis does not spill over into the broader financial system And on that point of fear to what extent is this rhetorical ring fencing of evergreen actually working at preventing that spread into the broader sector So we saw at least three developers default in October Those are developers that were already in financial distress So not exactly a surprise And what we're seeing is actually differentiation finally between the weak and the strong And what's happening and what really really kind of accelerated this week is that the weak companies are falling and then the strong ones are thriving companies like country garden which is the biggest developer by sales in China the shares are really rallying That one's rated investment grade by the global rating agencies So arrogant is not bringing down the whole real estate sector with it anymore And that's as a result of what Beijing and the PBOC have been saying and doing not just saying but they've also relaxed rules on mortgages this week So that is in a sense finally working But the week will still fall That's very much the message Okay Okay Sofia thank you so much for being with us It is our chief China markets correspondent Sofia auto E Costa with the latest when it comes to evergreen I mean a fascinating story obviously Tom that you know and not so familiar with We're going to bring you more and evergreens throughout the program but also coming up next on Bloomberg daybreak Europe So I had a conversation yesterday with the CEO of kantar public UK They keep a track of how voters essentially are feeling in the UK I was speaking to Craig Watkins I'm going to bring you the latest on British public opinion because in four weeks Tom it has absolutely shifted people are worried about food and.
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"I'm Caroline heckler You listen to me by daybreak here at where we've got the heavyweights reporting this morning Barclays Unilever AMAs and will be breaking down all of those This morning Yes in the thick of it when it comes to the earnings season The U.S. session closed mix the NASDAQ their tech heavy NASDAQ closed lower The S&P 500 edging closer to a record as investors focus on the earnings pitch whilst weighing up the risks of inflation The futures here in the Europe pointing to some downside looks like we're going to be seeing losses of four tenths of a percent if the futures in that is articulated in the cash session when that starts trading at 8 a.m. local time The futures in the U.S. also pointing lower by about three tenths of a percent over in China the Shanghai composite is gaining two tenths of a percent up by 7 points in Hong Kong you're looking at the HSI at down close to 1% Euro dollars currently trading at one 16 of the dollar index Bloomberg dollar index is just slightly higher in this trading session today The U.S. ten year yield currently at 1.6 In terms of the commodity space Brent is a little bit softer but currently trading at around $85 a barrel Bitcoin at $65,000 per Bitcoin after a record breaking run yesterday breaking new records at 60 to 7000 currently off by just over 1% Right let's go on to our top stories now So Tesla reported revenue that fell short of Wall Street estimates but profit beat despite a chip shortage Bloomberg's Charlie pellet has all the details Tesla managed to beat third quarter earnings projections despite a semiconductor shortage and supply chain challenges that have hobbled competing automakers Sales of Elon Musk's electric vehicle and clean energy company rose 57% to $13.8 billion missing estimates of 13.9 billion earnings came to a dollar 86 a share on an adjusted basis beating the 1.67 a share average of animal estimates The results mark the 9th straight quarter of profit for the 18 year old electric carmaker and came despite obstacles that included backups of ports and even rolling blackouts that made it tough to keep factories operating at full capacity In New York Charlie pellet Bloomberg daybreak Europe And as I mentioned Bitcoin rally to a record of more than 66,000 U.S. dollars for the first time as optimism surges for greater mainstream acceptance That follows the successful launch of the first exchange traded fund for investors The cryptocurrency added more than a $1000 in just a minute after the open in the U.S. on Wednesday At an update now also to the evergreen saga shares plunged after the distressed developer ditch talks to sell just over half of its stake in its listed property management arm to hopson for $2.6 billion So the failure may intensify evergreens credit crisis meanwhile investors also watching modern land which suspended share trading after warning of liquidity issues Lastly Blackstone is preparing to raise as much as $30 billion for its next flagship private equity fund this could be the industry's largest on record no target has been set but fundraising may begin next year And now on to one of our top stories here in the UK so the government is saying that it will hold off on resuming pandemic restrictions even as COVID-19 infections surge and daily fatalities climb So the health secretary Sajid javid warned that cases could rise to a 100,000 per day this winter and he will act if the strain on the NHS appears unsustainable That frustrates calls from NHS leaders for action immediately Well on Bloomberg Westminster are political program yesterday I was speaking to Barry Gardner the labor MP for Brent north and I asked him really what is on everybody's minds in Britain now Will the UK see another lockdown What I fear Caroline is that we're going to be rather like we were last winter when we said there should be a short circuit break and the government refused to do that and then of course had to put in a longer and lockdown thereafter These things are always very difficult to judge but I do think that we should be listening to the scientists who are saying the numbers are now escalating out of control And we need to just take steps to bring it back down I was in Scotland over the weekend And it was so marked the difference in the public attitude between Scotland and England In Scotland everybody wore a mask in any indoor space while traveling on the trains of buses inside in offices and so on On the street I would say that probably most people 70% were wearing masks and even then only a few not Now you can transfer with what's going on in England And I travel in on the two page day And half the people now I see not wearing masks And I do wonder whether they all have exemptions Absolutely daily cases in terms of COVID have been above what 30,000 since sir early September Well I mean one of the other issues is around the vaccine booster drive you know perhaps waning immunity is one cause of the spike in cases although there are a number of reasons perhaps How's the vaccine drive actually going in your constituency in Brent north Well in fact this afternoon just along the road for me there is a booster session for people It's really critical that people do take up their boosters because this is not something that is a once and for all Once you've been double that I think lots of people thought oh that's it okay I've got immunity But unfortunately the antibodies that you have in your body do the great over time And it really is important to get that booster particularly as we're going into the most difficult part of the winter months and people need that protection So that was very gardener the labor MP for Brent north speaking to me and will have much more British politics on Bloomberg Westminster today I'm going to be speaking to Howell Williams who is the plied cumbrian MP for often This as the numbers in Wales saw in terms of COVID-19 cases is there going to be more diversions for the nations and regions in terms of dealing with the pandemic and cantar public's UK CEO Craig Watkins will be joining me again with their October pole covering questions on perceptions of inequality within the UK catch that live 12 million UK time download the.
Bloomberg Radio New York
"craig watkins" Discussed on Bloomberg Radio New York
"That seems to be the message again from leading central bankers Meanwhile the China PMI pointed to a slowdown there those are a couple of the big stories we're following In terms of what that means for markets actually is a fairly steady day over in Asia messire Asia Pacific index is flat the nikkei two two 5 drops a couple of well two tenths of 1% The hang sang down by 7 tenths of 1% Ozzy shares their roaring heart up by 1.6% Futures also gaining both for the U.S. and European market open up by half of 1% for the U.S. stock 50 features 7 tenths of 1% For the S&P 500 and also treasury yields although they've Clyde throughout the third quarter towards the end of the third quarter their fairly stable this morning China actually had its worst quarter in terms of stocks since 2015 So that's a key one to watch out for So those other markets right now would you Right let's go to our top stories Now the world's top central bankers are cautiously optimistic that supply chain disruptions are temporary lifting inflation Here's the ECB president Christine Lagarde at Wednesday's ECB sponsored forum We certainly have no reason to believe that this price increases that we're seeing now will not be largely transitory Logan said the current bout of inflation is largely attributable to the reopening of the economy The fed chair Jerome Powell echoed those comments saying the current inflation spike is really a consequence of supply constraints meeting very strong demand China's factory activity contracted in September for the first time since February 2020 before the pandemic as a power supply crunch worsened during the month the official manufacturing PMI number was 49.6 non manufacturing activity picked up though with a PMI of 53.2 coming in well ahead of estimates That's what's going on in China Here three more energy companies were pushed out of business My scallion high natural gas prices Since the start of August 10 utilities in the country have gone under and that means more than 1.7 million customers have now lost their supplier Benchmark natural gas prices here rose 10% to a new record on Wednesday September has been one of the most expensive months for power prices in the country in records dating back to 2010 And finally sources say that Rishi sunak will announce a new program of up to 500 million pounds in grants to help Britain struggling with the cost of living it may be announced in the coming days and would be distributed through local authorities It will replace the COVID-19 local support grant program which is due to end today Those are some of our top stories but I want to go on to another issue here in the UK and talking politics Keir Starmer made his first full party conference speech yesterday in terms of a big audience promising never again to go into an election without a serious plan for government So he summed up his guiding principles as work care equality security Well one of the conservative policies that labor is challenging is that from today many people will no longer receive the temporary 20 pound uplift to universal credit So ewn parts and I spoke to Jonathan Reynolds the shadow work and pensions secretary about this issue on Bloomberg Westminster yesterday just about the time when star war was speaking we asked him about what the impact will be from removing that help for families across the country and how labor would be able to afford to keep it We'll be severe I mean it's a kind of 28 pounds a week or 6 million families many of whom are in work and many of which are extremely vulnerable Now we've said it should be kept We do think the universal credit system believes why there will fall I would simply say on the government's arguments for paying for it there's a couple of taxes a great deal They put a council tax they put up the personal allowance We know the heparin the Chancellor has for the orphan state that means he could keep universal credit at the rate it is without additional tax rises being announced in that volume statement And crucially of course much like the argument we have 6 months ago when they used this again and then did give in to others and did extend the university The crucial point of this policy taking away that spending from local communities the recovery will be less strong than otherwise would have been and ultimately all of the seasons are going to make them public spending will be determined by how successful we recover from the economic impact of corporate So I do think it's short sighted in terms of the national economy as well as the devastating impact on all the families affected The industry for fiscal study says the cost of reversing the uplift or keeping up with father will be 6 billion pounds a year So that's about 30 billion pounds over the course of a parliament Is labor going to go into the election committing to spend that money on benefits Like I said I'll spend this stage I don't know how universal credit will be a greater than the next two years that we probably expect to have before We have a general election and I don't know how well they'll fund some of the things they've already said they'll freeze again like local housing allowance So we don't make those specific pledges but we can say universal credit will replace the system We'll get rid of the 5 week war I've said very clearly what would use the taper rates of people a little bit more of the money that they earned and of course will know of course there would then relax more of the claimant count is at that point and how we can cost those things and be specific about it So we're ambitious in the future And anyone saying that this is a labor conference that doesn't have ambitious plans for the future I think it's absolutely wrong I just have a crucial thing that recognize and certainly the current labor leader you should do recognizes You can be as ambitious as you want but if people don't think you're credible and delivering your plans for frankly it doesn't matter what promises make And it's the two things hand in hand that have to go together I do think in case we have a leader who understands that So that was Jonathan Reynolds the shadow work and pensions secretary speaking to me on Bloomberg Westminster roger was fascinating Jonathan spoke to us around the time that Kirsten I was speaking spoke for about an hour and a half he was heckled but he very much tacked to the center He talked about the conservatives having no plan about Boris Johnson being a showman and let's see whether some of the policy details start to be appealing to voters Yeah well on today's Bloomberg Westminster going to move the focus back to the government We're going to talk to Michelle Donald and MP whose minister of state for universities fascinating moment because it was all that put out in the last few days about potentially raising the point or rather lowering the point at which students who've taken out loans have to pay them back very unhappy students out there people feeling that the younger part of the electorate perhaps he's getting whacked rather hard in order to try and balance the treasury's books So we'll talk about that We'll also find out what Britain's thinking the Britain barometer produced by kantar public We'll be talking to the CEO Craig Watkins You can catch it all live at noon UK time will download the podcast later from Apple music or your preferred radio Right.
RISE Podcast
"craig watkins" Discussed on RISE Podcast
"Site said folks for miles. You just write tons of books. I have nine published books. I've written mike thirteen. Yeah so so writings my jam. That's crazy that's what i do. I'm working on a book now. And i have when you say nine that just like my mind explodes at the thought of ally rally content. Oh yeah it's this. what are you writing about. Go if you've heard a song called. Craig aren't thinking about this guy. He acts he. I'm met at this church. It's a long story but we met at this church that i didn't wanna be at about six years ago. I was not a not a believer. My wife dragged me there. I was drunk when i went there on saturday. I wa i was out. I'm six years sober was sober When i met craig watkins church in just he just was like hey. I'm glad you're here. But it's weird he said. I'm glad you're here. But i knew he knew where i was in light like i. I smelled like alcohol. And he knew that i did not want to be there and my wife and i we were pregnant with our fifth kid. We had one car. I was working at costco. Stock in pros in plain shows every night in Was zombie him in his wife. I mean they just loved on us. I'm talking about doors. wide open. weren't like hydra kids from the gross guy like he says bad words. He's always drinking. You know they didn't care. They just open their house to us in He actually showed up at one of my son's baseball games with his own mini van in the tidal in the keys to it and he was like you guys got a burden on. Wanna help us. Somebody did this for me once can do this for you and so anyway this like we drove home super proud. I didn't wanna take it. I was i was. I was so ashamed to need that much help in new by taking car that meant that just confessed on needed help. You know which is just a guest. That's that's been a hard thing for me with faith in christ to begin with you gotta get on your knees Can't do it not know why. That's so hard for a man like me but anyway i took the car in his drove. Our kids home out they were safe. They didn't have to duck. You know when car when a cop joe or anything in always wanted to thank him. Saw wrote this song called craig. Basically the hook is like he can't walk on water. But i think he might know man who did Kinda idea and So anyway advocacy met the lord in I'm redeemed in now. Believe it or not ragnar next door. Neighbors we laugh. We literally share backyard in he. He him and his wife have just been steadfast friends to a as we we lost a child lost their seventh child. They held our daughter which is a testament lady in are not really that great community. Were getting better in. I feel like the lord's colonists to the ad even though it can be messy at times but anyway so creighton are offering a book called. Glad you're here where it all started it. Basically the subtitle is two unlikely friends breaking bread fences and it just talks about how the love of crisis came through him just because he allowed it to you know that they loved us expecting nothing in return Absolutely nothing they had nothing to gain from opening their doors to our family. We couldn't be more opposite. It's so hilarious that we live next door like they go to school. We home school. There's other big issues that we're completely opposite on yet at the same time were neighbors in christ and allows a super long answer but when now last on book because we just turned in the full manuscript in oman didn't like a song songs i mean they'd take me a while some take hours but some take months each chapter was like two thousand words of you know i would ride my heart out and i'd be like this has got to be a lot when i would word own worth check it. It'd be like twelve hundred words. And i'd be like what the crap i know about this but you know the publishing company moody Just been so kind in patient with us But yeah i. I basically do kind of memoir ish section in the Applies the gospel in a. It's going it's going to be powerful. Yeah i mean if it makes you feel better authors also right and then check. The word count wannacry. It feels like when you're in school. Remember when we were in school and you had to hit a certain amount than you would just you would just you so many trying to explain what it was so you're not alone and you send this wondering about this so much. At least i'm just gonna ask you. Why not you talk through or would you talk me through the process of how you write a song. I'm you know honestly. ev ev. Every writers difference. I really can't speak on behalf of everybody. You know what. I am lyrics. I line honestly i. I you know if you listen to my music. It really doesn't have a genre. But the reason i'm in nashville end shows the country outlets because i feel like the lyrical integrity use is incredible. The ad that israel. Yeah you know. I mean and not every song i mean. Even the song have out now fancy likes not that great if you read it. It's not. We're not talking shakespeare. Here come on now but you know when you wanted to get when you wanna get deep though. You wanna ride These meaningful songs countries. The place. But i mean i honestly. Mop process is chorus. I verse sue. I think it's weird most artists but to me. That's where the airplane is landing. So i lost right backwards like a love to get that punchline on just the hook like i'm actually writing the song right now of working on before i got on the units cobb the rest of you and it's actually pretty funny. It's about it's not funny little bit slow bit sexy if you will. But it's about my wife. When met on the road at smith's hanging now known just coexisting in the house and she's like you only want. There's only one thing you know. And i'm like yeah. I want to get to that. But i miss in so the hook is made the mess love but i missed the rest of you more do it. I mean that's an important thing to me. Duncan be mom but but still account wrote it backwards in Conversation of hey. I'm on my way home. I cannot wait to just not have to just talk on the phone with you and ask you only have woman thing in your mind and i'm like okay. Maybe.