22 Burst results for "Keir Starmer"
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"Hear from Keir Starmer today, giving his response I guess to what we heard from Rishi sunak yesterday with his 5 priorities. What's the expectation around Keir Starmer? And yeah, 5 promises we heard yesterday, didn't we Anna, now the telegraph is reporting on Keir Starmer's speech later today. Look, this comes less than 24 hours after Rishi sunak. It's actually been held in the same pace and both parties are setting out their vision ahead of the next general election and the year ahead, now starmer will today vow that labor will not get out its big government checkbook if it wins the next election and he says we just can't pay our way out of the current situation. He will also argue his party is ready to govern and will promise a decade of national renewal. And we have seen over the time Keir Starmer has been in, he came to power for the Labor Party in April 2020, and he's moved the party much to the center ground, so today we'll see him move around and move away from the old vision of big state socialism under Jeremy Corbyn Okay, so that's the telegraph today in the times. They have an article about the strikes and perhaps all the government might be thinking about doing about it. Yeah, we've heard this on and off, haven't we, but nothing's ever sort of been solidified or announced, so employees in the UK will be allowed to sue unions and also lay off staff under government plans to curb the right to strike. Now this is something that the times newspaper has been told strikes would be deemed illegal if unions refused to provide the minimum level an unidentified person who's been involved in these discussions has been talking to the political editor Steven swinford and the new laws could come in as soon as today or could be announced as soon as today, and the government is saying it's not the intention to penalize individuals and the legislation is about ensuring protection of essential services so there we are. We could see that staff could sue unions and that would be businesses or I could sue unions and staff under these new laws if a minimum level of service isn't provided to us. And as we were just talking about strikes earlier and your train map there, Steven Carroll. That's very much Leanne. The anger is with a review of some of the big stories in the newspapers. Let's get more on the markets now, and focus on the minutes that we got from the last Federal Reserve meeting. And let's try and get some insights into what they revealed. The message from policymakers was that investors shouldn't underestimate policymakers will to keep rates high for some time for more let's beats Bloomberg senior Asia economy reporter Michelle jam risco. What's stood out for you, Michelle here. It seems as if the fed's trying to continuing really to push back against market expectations of rate cuts later this year. Yeah, really the next round of that fight, right, Anna. I mean, it's not the message that market participants wanted to hear. It wasn't altogether new or surprising, but it was striking, you know, how hard they hit on that warning to markets, not to underappreciate what the fed is doing, don't fight the fed as the old mantra goes and don't allow this what they call unwarranted financial easing to continue. There's a lot of clear angst and frustration on the fed that market pricing is reflecting cuts in the latter half of this year continues to do so. And that's all just making their job harder to convince everyone that their laser focused on the inflation fight. So in these minutes, we also saw comments around the labor market around consumer spending. It really kind of broadly agreeing with what we heard from Powell at the press conference in December that the labor market remains very tight. That sustained below trend growth will be needed to slow down that price growth. And I think one other thing that struck me is that we had the risk of over tightening as sort of this minority view, but a fairly substantive view that came up in the November minutes, and we were looking the chief U.S. economist for us, our Bloomberg chief U.S. economist Anna Wong had said, don't expect to see that much of the over tightening risk in these December minutes. And in fact, she was indeed right. There was not that sort of risk mentioned. We heard from JPMorgan's Mike feroli telling BTV that he seems to think that fed officials probably have decided that that risk is something they'll just have to stomach in the face of stubbornly high inflation over tightening is a smaller fry in the site. So broad agreements that they're going to have to continue with this inflation fight and they're trying to get that message through to markets. Well, another manner of which that appears to be happening is Neil kashkari took a pen to paper or fingers to keyboard, I suppose, more specifically in writing an article. Yesterday, what had his comments fit into the broader message we're getting from the fed. Yeah, Neil kashkari has been quite outspoken over the past year. We've seen him become this sort of Uber hawk and the inflation fight kind of carrying that mantle that Powell has promoting about finishing this fight and trying to convince everyone that they're very serious about this. He matters now more than ever as he gets a vote on the board this year he'll rotate in to that voting group starting with their February 1st decision. So in his comments in this essay, it was very in line with the message from the minutes, basically you heard him say, you know, look, we know we were wrong to underestimate inflation. This is a different kind of inflation. It's more complicated. And what I heard from this message was you'd be patient with us, trust us. Know that we're in it to win it, and we're in it for the long haul. And what was interesting about how he framed this whole thing, he's trying to be very relatable as we've known the Minneapolis fed chief to be. And so he translated this to an analogy around Uber pricing that the inflation that we saw last year was like when you're trying to get an Uber in a rainstorm. The prices surge, you have to bring demand down, you have to bring supply up to get those two in line and bring prices back to normal. So it is really kind of saying just wake this out. We'll get through this, but trust them, they're going to see it through to the end. So we still have that sort of standoff then between the fed and what the markets expect. We'll see how that transpires. There's also a change in the makeup of the FMC, isn't there Michelle this year, four voting members, a change of four voting members. How might that alter the direction of the committee? That's right. So kashkari is one of the four coming in. There are four going out. Unbalanced, I think our colleagues see Matthews on the fed team believes that that will give a dovish tilt on balance, these four coming in versus foregoing out. Among those going out is Esther George, I think she's one of my favorites to watch and has been she's very interesting. She's been known as a hawk for a long time, but last year was one of the early voices talking about that over tightening and the lagged policy effects risk. So she'll be out and in among the N ones that we should watch are two newbies, Austin Gould, to be at the Chicago fed, who some may remember as the former CEA chair under Obama. And he's believed to be a bit dovish, and then Laurie Logan, who's going to be at the Dallas fed, is former New York fed markets desk, and she's believed to be a little bit more centrist. So this will be two of the four new ones that we should keep an eye on as Powell tries to retain this sort of voice of unanimity on the fed. It'll be hard to continue that streak with four new voices. Okay, Michelle drew myself. Thanks so much for all of that. Let's get back to Leanne
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"What they have been trying to do for a couple of years is get through some legislation on the railways on transport so that you have minimum service levels. But this has been put on the back foot I'm sorry on the back burner. And we were expecting it to come forward quite soon, but nothing seems to be happening on that point. So in terms of a strategy, no, not really. And we expecting the PCS that's the civil service union to make an answer later today properly on whether they're going to walk out and also ambulance drivers represented by a couple of different unions. We're waiting on what they say, too. And while the government is facing all of these many headaches, labor is well ahead in the polls. And yet, Keir Starmer seems to be treading the tightrope on Brexit. You'd think that given how far ahead they are, he might be able to be softer on Brexit, why not? It's a distraction, isn't it? You don't want to reopen all those wounds. I mean, you guys were there during the hideous years when the country talked about it, popped itself sick, basically about Brexit. And even I think even actually, if sama did think that there would be an advantage to rejoining the single market, he wouldn't say so at the moment because it just creates more political problems than the kind of economic benefits are worth. So he's trying to park that he's trying to present labor as a party of renewal and talking about reopening old wounds, certainly doesn't do that. Political editor, kitty Donaldson. Thank you for walking through some of the key challenges for this governor. The opposition as well having to face up to some of the challenges around this economy as well. Thank you. Stay tuned for more on day break Europe. This
What Bitcoin Did
"keir starmer" Discussed on What Bitcoin Did
"Yeah. And I think if you haven't heard of Bitcoin or even, well, maybe even you heard of BMW down the rabbit hole. When you are told there's a problem with inflation, you point to the government. You blame them. And most of the time, what your answer is going to be is, what are you going to do about it? And if you're not going to do anything about it, what is the opposition political party going to do it? Sure. Sure. And I'm going to vote for them. So even more recently, keeping up that Keir Starmer after the thing. Sound money. But it's not sound money. Okay. But so we've got a high inflation problem. All kinds of problems in the UK. Yeah, we all kinds of problems in the UK at the moment. But Keir Starmer is the leader of the Labor Party. I don't know if you've heard of him, but he's so the way it works in the UK is you have a prime minister and then you have a shadow cabinet, which is the second party. And there are third and fourth parties, but the shadow cabinet tends to debate in parliament. But you have a leader of both. So you have who is the prime minister and who wants to be prime minister. And they've just had their conference and Keir Starmer use this conference speech on Tuesday to tell voters that his party stands for sound money. But his idea of sound money is not you're an idea sound money. It is a marketing term to explain, we need to like, I understand what he's trying to say. He's trying to say, we need our money to have more meaning. We need to have better economic policy. But he's not talking about sound money like we are. No. But the point being is that we look for that other person to vote for. But what we know is inflation is not a single term issue. It's successive governments and it's the incentive system of the Fiat money system. What we're going to talk about here is this is a completely alternative view. This is the orange party. This is a vote out of the politics and vote for something new. That's why I think this could be supremely important, and I'm hoping, no pressure, Steven, then I'm going to be passing this one outside. Just fucking listen to this. Okay. Before we get going, I want to announce one thing. Okay. Is that okay? Bit of marketing. Okay. So we are doing, we just announced, we're doing a fundraising initiative with the Bitcoin policy institute. Yes. And you know who they are if the listeners, they don't know who they are. It is a collection of what I have personally assessed through hours of conversation to be, in my opinion, some of the best, smartest, most high quality academics that are interested in researching and publishing on Bitcoin. Not only are they really intelligent, there's a lot of smart people in the world, but in my conversations with them. I think they represent Bitcoin well. I think they understand Bitcoin well. And for the right reasons. And so swan is working with them to raise money to publish papers in academic journals.
AP News Radio
UK PM Truss vows to stay, but on the brink as minister quits
"Embattled British leader Liz truss tells lawmakers she's not a quitter In the first prime minister's questions since new chance that Jeremy hunt perform U turns on almost all of the tax cuts announced three weeks ago trust had fiery exchanges with opposition leader Keir Starmer who listed the full range of policy terms The formula Chancellor He's gone as well They're all gone So why is she still here Mister speaker Mister speaker I am a fighter and not a Quetta Trust has apologized to parliament and admitted she's made mistakes so far during her short tenure as Britain's head of government Charles De Ledesma London
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"Daybreak, Europe. So it was scenes really of Monty Python esque comedy I would say in parliament yesterday, reach for the dark humor after the chaos. Keir Starmer quipping that the ladies not for turning up this is Liz truss the prime minister who is meant to be in parliament. Yesterday, she turned up eventually, penny morden, seriously saying at the dispatch box, no, the prime minister is not hiding under a desk. I feel like her the respective teams of the Keir Starmer and his shadow cabinet had an absolute field day prepping him with one liners that could only succeed in landing and I'm sure we'll see play time and time again, not least on have I got any use to you and elsewhere Yeah, absolutely. Humiliation for this trust, but she says she wants to lead the toys into the next general election in any case, though, in the markets, the intervention of Jeremy hunt are the news Charles effectively scrapping all of trusses policies. Have actually managed to stabilize things. So starting this morning is flat to slightly higher trading at one 1360 and you've got ten UK gilt yields down below 4% this morning. Also, in terms of other markets, European stock futures are higher traders taking encouragement from the ECB's village of Gallo, seeing the idea of a slower pace of rate hikes for Europe, so stock futures for Europe are up by 1%, S&P 500, even features, also gaining one and a half percent very positive in the Asia training session, MSCI Asia Pacific index is much higher. It's only the CSI 300 that's down three tenths of 1%. You've got the Communist Party Congress ongoing. U.S. ten year yields down four basis points at three 97 and importantly, the Bloomberg dollar spot index is down two tenths of 1% to a second day of declines for the dollar. Those are the markets Alex. Let's stick with the UK with our top stories today and the prime minister is trust has said she's sorry for going too far too fast after her new Chancellor gutted most of her economic plan in an unprecedented U turn. Speaking to the BBC, trusts offered this apology to voters. We have made mistakes. I'm sorry for those mistakes. But I fixed the mistakes. I've appointed a new Chancellor. We have restored economic stability and fiscal discipline. And what I now want to do is go on and deliver for the public. Even the prime minister's closest supporters are now asking how long her leadership can last, according to ministers and aides who have spoken to Bloomberg news, so far 5 Tory MPs have publicly called for trust to quit, but it would take two thirds of the parliamentary party to force her from office. Well, yesterday, the newly installed Chancellor Jeremy hunt scrapped a number of tax reductions and signaled their support on energy bills will be scaled back next year. This government will take the difficult decisions necessary to ensure there is trust and confidence in our national finances. That means decisions of eye
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"That. That's the sound of a patient whose health data is protected from a cyberattack. And that, that's the sound of a financial system that's digitally secured from bad actors. Right now, there's an invisible war being fought on a digital battlefield that impacts what we do every day. That's why it periton, we do that can't be done to help protect the vital systems we rely on because if we don't, the alternative is unimaginable. Periton. Out of positions of responsibility in the party. So I think there's a big question about whether the party can accept this. I suspect that they and I think many people feel that the Conservative Party is now going to have to pass a period of time outside office while it reorganizes itself. Yeah, look, I think for Bloomberg listeners, you know, who are focused on markets who I think believe in, hopefully believe in empirical evidence and economics. I think that they, you know, they also want to understand now does the Labor Party believe in that? Do you think that the Labor Party has taken some of the lessons? I mean, potentially if we get Keir Starmer as leader or the labor coming in, the party coming in next, are they less beholden to the sort of factions that you've talked about? Well, I mean, first of all, there are a number of business leaders in the UK who are now calling openly for Liz trust to go. So clearly that constituency has lost confidence in her. But for as for labor, obviously labor lost confidence with the business community and the markets under Jeremy Corbyn very badly. Keir Starmer has been seeking to change that to rebuild the party's image. He has changed the leadership of the party. I think he's made a lot of progress on it. And to be Frank with you, I mean, if what we now need is a period of government led by somebody who appears to be stable, solid, sensible and expert and prepared to listen to the facts, then Keir Starmer is quite a good option, though he may not be the most glamorous politician in the UK. The question is whether he's done enough now to bring his party with him and it was interesting at the recent party conference. He said very clearly we are now moving to the center ground and he was not challenged from within his party on that statement, nor was he challenged on the creations he used some of the Tony Blair's language in the past. So there's a signal about the direction of travel of the Labor Party. Okay, Simon Fraser, deputy chairman of chatham House and managing partner Flint global, thank you very much for joining us. This is Bloomberg
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"Conservative government and they have been for quite some time now. They'll forget we were talking about the public falling out the conservatives around inflation. Price rises, shortages, way back in sort of August, the September of last year. So this has been a long time coming, and it's got to take a long time to get back out of it. And I think the public needs to be given the sense that Conservative Party get their problems, they can be trusted on the economy and they have a plan to solve the cost of in crisis because right now they simply do not. And that's the one thing that's really hammering them in the polls right now. Okay, so does the Labor Party provide that? And I suppose, what is the scenario for an early general election? I mean, as I said, the government doesn't have to call one according to the kind of parliamentary rules until January 2025. So is there a scenario under which you might see an early election and then the Labor Party win? So I give him the poems in the polls right now. I'm not entirely convinced the conservatives would go for another general election, particularly given the sense that labor do have a momentum right now. They do have something of a head of steam. Now, of course, much of the polling lead that labor have is as much to do with people saying, well, particularly conservative 2019 voters saying that they don't know what they would do if election were held tomorrow as it is people actively saying I will vote labor, having rolled through conservative last time. So there isn't really a big sort of shift in attitudes towards the Labor Party in terms of the public now think that they're ready for government. I think the Keir Starmer is ready to be prime minister. There is momentum behind those figures, labor R starting to convince people, but they've got a long way to go. There is no wide ranging endorsement to the Labor Party right now or but they are moving in the right direction. I think as long as that keeps happening, I think the chances of an early general election keep diminishing. Okay. Patrick, thank you so much for your time this morning, really good to have you on associate director of YouGov Patrick English. So siva, there you have it. It's not as if the Labor Party are hugely convincing in their messages, at least not according to the polling. It is simply the unpopularity of the conservative government that has hit home and I suppose when you see mortgage rates having moved so rapidly in the space of a week, it's having an immediate impact on people in the economy. Yeah, it certainly is. I mean, that is one of the big issues that people will be listening out to see what quasi quoting has to say about his plans for the economy because all they've had so far is promises of tax cuts and then the resulting chaos on the markets which led to, among other things, mortgage costs going up and so many lenders withdrawing mortgage products as well as a plenty to watch out for in quasi quieting. It speaks later on, Carlin will be back with you in Birmingham very shortly for more from the Conservative Party conference coming up next on the program though we will be talking about the outlook for the guilt market after last week's meltdown here in the UK. We're going to be joined by Gordon Shannon portfolio
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"Leader Keir Starmer's keynote speech at the party conference The Guardian its headline says a labor moment starmer sets out, he's planned for a return to power. Let's get a quick rundown of the papers then with Leigh Anne gerrans Lee and let's start with that guardian story. Yes, indeed, and I don't know Anna if you did watch Kia's speech yesterday Keir Starmer's and he had ten standing ovations it went down so well with his party and The Guardian quotes Kira is saying as a 1945 1964 and 1997, this is a labor moment and he accused the conservatives of having lost control of the British economy and also crashing the pound, not for the benefit to ordinary working people, but for the tax cuts for the richest 1% in society. In his conference speech, he set out a vision for the government telling the party they must spend each day between now and the next election, ready working on earning the trust of British people, Keir Starmer's also planning to establish a publicly owned energy company in his first year in office as he reflected labor's growing hope that the party is now on the path back to power. And a warning on the property market and the Financial Times Leanne. Yeah, absolutely, so the FT says more than 2 million households are facing a sharp rises in a mortgage costs over the next two years, and according to analysts speaking to the newspaper, this is dramatically increasing the chances of a property price crash and many people could actually be forced to sell their homes. Now the warning comes as average mortgage rates are forecast to exceed 6% in the first half of next year and this is as interest rates are set to rise on a due to that mini budget. We see those guilt yields rising once again this morning. Thanks very much, Leanne. We'll talk about the aftermath of that budget from last Friday and the banking sector next, this is Bloomberg. Circle is bringing together developers and entrepreneurs from around the world. Join us in San Francisco for circles converge 22 from September 27th
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"Now the paper review on Bluebird daybreak Europe. The news you need to know from today's papers. Well, many of the newspapers leading with the labor leader Keir Starmer's keynote speech to his party conference yesterday, The Guardian headlines a labor moment that was the star of phrase. Jump in mortgage rates threatens the UK property price crash according to the Financial Times and the express is warning about a twin demic in terms of illnesses during winter can mostly and guarantees joins us now. So Keir Starmer, yesterday, trying to deliver a real message ahead of, well, general election that still months years away. Two years away and it went down really well with his party, didn't it Caroline ten standing ovations. I felt like every time we spoke someone cheered, but The Guardian quotes Kia saying as in 1945 1964 and 1997, this is a labor moment. He also accused the conservatives of having lost control of the British economy and crashing the pound, but not for the benefit of ordinary working people, but for the tax cuts for the richest 1% in society. Labor have really said this time and time again, wasn't it? It was a budget for the rich or mini budget, as it's been packaged. In this conference speech, he set out his vision for government telling the party they must spend each day between now and the next election really working to earn the trust of the British people and Keir Starmer is also planning to establish a publicly owned energy company in his first year in office. Now this comes as he reflected labor's growing hope that the party is on the path back to power at a time where we are going through a cost of living crisis undoubtedly. Turning next to Financial Times Leanne and a warning on the property markets. Yeah, this is something that has been really at the forefront for the last couple of days and the Financial Times says more than 2 million households are now facing sharp rises in their mortgage costs over the next two years, according to an analyst. This is dramatically increasing the chances of a property price crash and also many people could be forced to sell their homes because of this. Now the warning comes as average mortgage rates are forecast to exceed 6% in the first half of the next year as interest rates are really expected to increase the fallout has already caused chaos in the mortgage market with lenders like HSBC and Santander having to suspend new deals and more than 2 million borrowers with fixed term products will need to re mortgage between now and the end of 2024. That's what the Financial Times is quoting and that's according to BOE data. Okay. Thank you so much for giving us a newspaper. Round up this morning. Still ahead, we're going to talk about the European gas crunch, a Russia threat to cut off the last last gas pipeline. This is Bloomberg. But I know about circle is spring together developers and entrepreneurs from around the world to continue building on the momentum of the ecosystem surrounding USD C we'll hear from thought leaders and change makers on where the digital asset industry is today and more importantly, where it's headed. Join us in San Francisco for circles converge 22 from September 27th to the 30th to shape the future of
Between The Lines
"keir starmer" Discussed on Between The Lines
"Exchange in the comments between the new p.m. and the labor leader Keir Starmer. The reality is that this country will not be able to tax its way to growth. She's the fourth Tory prime minister in 6 years, the face at the top may change, but the story remains the same. There is nothing new about the Tory fantasy of trickle down economics. Well, there's nothing new about a labor leader who is calling for more tax rates. That's a lively exchange between the prime minister and the labor leader in PMQs this week. Alexander Dana, what do you make of the fact that he's Lee's trust? Apparently, the new iron lady, but she will spend about a 100 billion borrowed pounds on an energy bailout. That doesn't sound that short. Well, I don't know whether it would be fat for it or not. And then I'd have to say, I do have my reservations about that. Reservations about put will effectively putting a ceiling on energy prices, particularly gas prices. I would have thought myself it made a lot more sense to spend less money by just focusing on helping people on benefits and pensioners rather than everybody in the whole country at huge expense. My problem with this borrowing, it has the potential to add to inflation. And there's already a lot of inflationary pressure coming out of all the spending from the pandemic. As well as the increase in energy prices. So, you know, I do have my reservations about that. On the other hand, the political circumstances of the time, I suppose, demand it. So if you did nothing, it would be politically very painful to do. And the alternative is to raise taxes to pay for it, which is what the Labor Party is proposing. The trouble with that is that if you did that, it would definitely push the economy into recession and discourage investment. So no easy answers there. Okay, back to Isabelle's point though about the idea of the new prime minister embracing a broadly free market agenda.
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"E mini futures are two types of 1%, lower this hour. Meanwhile, oil prices bouncing off those 6 months low on hope of Iranian oil supplies, potentially returning to the market despite the cold water the Goldman Sachs is pouring on that idea, WTI 7 tenths of 1% higher, $87 and 15 cents, Brent crude $92 and 92 cents. That is your Bloomberg radio business flash now here's Leon garon's with more on what's going on around the world, Leanne. Steven, thank you, UK inflation has hit double digit CPI accelerated more than expected last month to hit 10.1%. It's the highest rate in 40 years, rising food prices were the largest part of the increase has signed inflationary pressures are spreading beyond energy. The BOE expects inflation to top 13% in October when the energy price cap does reset. Now German utility giant uniper posted a net loss of more than €12 billion in the first half as it struggles to fill the hole left by Russian gas. It comes as Berlin says it is struggling to have enough fuel this winter of Moscow cuts off supplies completely. That's according to the nation's energy regulator, the risks of energy rationing in Germany are still high. And Rishi sunak has ruled out freezing the UK's energy price cap if he does become the next prime minister, his rival is trust has worn against throwing money as a short term fix to the problem labor leader Keir Starmer this week announced he had freeze the cap on energy bills instead of allowing it to rise again in October. 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, and neand gars, this is Bloomberg, Alex. Thanks, Leanne. So we have the story today that the world's largest investment banks are bracing themselves for billions of dollars in fines from none other than simple text messages. Here to discuss why this is all happening now is Bloomberg news reporter Charlie wells, so Charlie, can you talk us through how we arrived here from some bankers texting, sending text messages to billions of dollars in fines. Yeah, sure, Alex, well, this really goes back to kind of a fundamental principle in banking, and it is that bankers need to keep records of the deals they do, the trades they make, and the way that they court clients. Now this was easy in the days of, say, letters, fax machines, even email, but encrypted messaging has made it even easier for the likes of, say, managing directors to just shoot off messages and not necessarily keep track of them in the way that they should. Well, that is exactly what U.S. regulators said that JPMorgan was doing in extracting a $200 million fine from the bank in December. Now, the bank had to admit that among other things, one manager texted more than a hundred colleagues and dozens of outsiders racking up more than 2400 messages. That is a rare admission, and it was also just the first step because regulators continued a large sweep through the banking sector in snarling many banks, including HSBC, Goldman Sachs, and Citigroup. That is a lot of text messages. It's like being in a group chat with Leigh Anne garris, and why are banks talking about these fines now? Yes, so, you know, that JPMorgan fine was extracted in December, the industry wide probe started and has been continuing over the course of months. And now what the big question has really been over those months has been will the fines that other banks potentially face reach that $200 million figure that JPMorgan faced, and in the past few weeks in earnings statements from banks, the answer seems to be yes. So Credit Suisse's CFO said recently that they are now anticipating a $200 million charge. This is an he has said that this is expected across the industry and similar points have been made estimates now look like about ten banks in total could face $200 billion in fines for these messages. WhatsApp is so widely used, particularly in our part of the world, perhaps a little bit less so in the U.S.. Can penalties like this actually do much to change the way bankers communicate? Yeah, Alex, that's a really good question. And this is about what's up. This is about private messaging. This is about text messaging as well. I think that there will probably be a chilling effect here, right? In some of these investigations, banks have literally asked people to hand over their personal phones. I don't think anyone wants that happening, but we do know that hybrid work is here to stay. These messaging platforms, as you say, are so efficient. And I think Deutsche Bank provides a kind of interesting model, so 5 years ago they tried to ban WhatsApp on company phones, recently they've been working on software that could allow, you know, WhatsApp and other messaging platforms to be on company phones, but to be archived properly. So it probably is not black and white going forward. Okay, really interesting story. Thanks so much for taking us through all the detail of it Bloomberg's Charlie Wales there with the latest on that story about the investigation into WhatsApp messages among bankers, really interesting one to watch as that story rolls on. Coming up next on the program, we will be talking about the London rush with Charles capel who'll be taking us through all
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"Is the one that is still out there in third place. She'd had real momentum going forward. And interestingly, penny has made no progress. And that's a very big part of this. So there's momentum for Liz. That was the former conservative leader Ian Duncan Smith voicing his support for the foreign secretary Liz truss. More ballots are scheduled for Tuesday and Wednesday after which just two contenders will remain, Johnson returned to parliament on Monday for one of the last times as prime minister for a largely symbolic confidence vote. Well, as the conservatives continue with that leadership contest labor are trying to capitalise on their growing lead in the polls when it comes to economic issues. Speaking to Bloomberg, the party's leader Keir Starmer said that the toys have lost all credibility when it comes to the country's finances. For 12 years of failure and I think that any sense that the Conservative Party is the party of the economy, it's just been blown out the water and if you look at the leadership race that's going on at the moment, your absolute fantasy economics going on. Hundreds of billions of pounds of unfunded spending commitments. So there's no way the conservatives can claim that they're the party of economics anymore. That was the labor leader Keir Starmer speaking to Bloomberg, summer went on to say that the mission for any incoming labor government would be to grow the economy, and that that is the argument the party wants to make to the country. Meanwhile, after many of us, of course, struggled with the conditions on the hottest day of the year forecasts believe
AP News Radio
Weakened UK leader Boris Johnson survives no-confidence vote
"British prime minister Boris Johnson survived a no confidence vote from his Conservative Party Johnson has had trouble shaking off revelations of boozy parties by him and his staff in 2020 and 2021 that flouted coronavirus restrictions imposed on others What we're going to do now is take the opportunity to unite and deliver But a growing number of conservatives feel Johnson is now a liability who will doom them to defeat in the next election The opposition agrees The British public are fed up fed up with a prime minister who promises big but never delivers Keir Starmer is head of the Labor Party Fed up with a prime minister who's presided over a culture of lies and law breaking at the heart of government Johnson's margin of victory was less than predecessor Theresa May's vote in 2018 She was forced to resign 6 months later I'm Ed
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"CSI 300 sinks 1.2% MSCI Asia Pacific index also down 1.7% this morning As for the bond markets ten year treasury yields trade upper basis point at three 14 a speaking to a newspaper insular the ECB president Christine Lagarde as the prospect of style deflation isn't our baseline scenario presently so she's rejecting any comparisons to the 1970s although our M live pulse survey looks pretty concerning warning of Euro dollar parity looming pretty soon As for WTI crude futures this morning $110 zero 7 up three tenths of 1% That is a Bloomberg radio business flash Now here's the anger and with today's top stories been running around Caroline good morning and thank you and let's start right here in the UK labor leader Keir Starmer has canceled a planned speech later today's pressure mounts over claims he broke lockdown restrictions footage has emerged of starmer having a beer with colleagues last year The mail on Sunday is suggesting takeaway food at a campaign event in Durham was planned beforehand police are now investigating Keir Starmer says he's confident he did not breach the regulations Staying in the UK the Northern Ireland secretary is set to meet the leaders of the region's political parties later today to encourage them to restore government after last week's election A nationalist party came top of the polls for the very first time marking a significant shift in the region's balance of power Shoen feins whose ultimate goal is to unite Northern Ireland with the Republic of Ireland intends to nominate its northern island leader as the region's first minister And finally Marilyn made just bring in millions and Andy Warhol portrait of Marilyn Monroe with an estimated $200 million will be up for auction at Christie's on Monday which has of course today the auction house expects shot a sage blue Maryland to become the priciest 20th century artwork It's part of the shot series known as such because a visitor to wall hull's studio actually fired a gun at the portraits Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in 120 countries This is Bloomberg Stephen Who would have thunk that firing a gun at a painting would make it more valuable rather than just ruin it I don't know but whoever did that a bit of a legend doesn't it I don't know if I would walk in it That's your job It was just like would you mind just ruining this ruining I was actually thinking about that Now you've mentioned it Banksy rune to zone artwork Remember when it sold and then it shredded So sometimes it has got a little bit of a story behind it It does really well but shooting a gun I would never suggest that inside a place where portraits are hold but I also just had a look at those pictures so well known And I feel like I've had quite a few ripoffs of it on my walls over the year at home but it is a really beautiful and amazing picture And that's our own brand of sabotage Thank you very much for that Let's go back to currencies now and is the Euro heading for an even worse drubbing over the war in Ukraine and the supply chain crisis the latest M live pulse survey finding that 60% of those responding believe the Euro will eventually end up at parity with the dollar We've been asking some Gaston Bloomberg in recent days but the fear of recession in Europe here's what some of what they've had to say starting with the governor of the Bank of England Andrew Bailey UK GDP growth is expected to slow sharply The impact of energy on the European economy will be substantial The proximity to the war is part of the challenge here It does look like the recession risk is.
Woman's Hour
"keir starmer" Discussed on Woman's Hour
"To commit the then government with the agreement of both Tony Blair and Gordon Brown to the pursuit of a world free of nuclear weapons. We were actually the first country, which is a nuclear power, and the first government in office to do that at the time it looked as if the atmosphere was favorable to move towards the NPT. And actually, there was no disagreement between us and the conservatives, William Hague took forward. That approach to the non proliferation treaty. But what I feel now is, first of all, how tragic the young people of today have to relearn all that stuff that were so familiar to my generation, and that we all thought we'd put behind us. We weren't pursuing non proliferation as speedily or as fully as one would have wished, but I don't think anybody thought we were going backwards, which, at the moment, we now are. I mean, Putin has done more to the sheer fact that he invaded Ukraine when they had given up their nuclear weapons, and they had a guarantee from a number of countries, including Russia. Giving up their nuclear weapons would never not mean that they were undefended. I mean, he set back the whole cause of non proliferation. To a tremendous degree, perhaps for a generation. But that's no excuse. I think it means that people have to redouble their efforts because the danger is so immense. Boris Johnson is of course the man ultimately in charge at the moment and there's reports today in the papers of the shadow cabinet turning towards your leader Keir Starmer and saying stop focusing on party 8, especially in the run up to the local elections. It's about focusing on the cost of living crisis. You know, party Gates been priced in with Boris Johnson. We don't obviously know how that's going to be. I should say there's full list of candidates on the BBC's website with that coming up. But why do you think Keir Starmer even to some of his own shadow cabinet isn't cutting through enough? Well, I have no idea whether that story is true, actually. I haven't heard it being said. Regardless of that story today, there is concern that he still isn't cutting through. And I wonder from your perspective, do you actually think he can? Oh yes, he is eminently capable of being the prime minister. And that's one of the things that really matters. Capable versus Alexa are two different things though. I don't myself at all see why he's considered to be not electable. No previous prime minister, as far as I'm aware, has had a personal photographer. He has three at our expense. And then he seems to think the job prime minister is going to go out and have a new photograph taken. And their job is to keep him in the news media every day and to take up the space and to take up the attention. That's exactly what Donald Trump did, and it's what one hymn, the American election, and Boris is.
Woman's Hour
"keir starmer" Discussed on Woman's Hour
"Be honest. And I think now that I've heard kier say that it is an adult human female and I think Anna Lisa has since been clearer herself on that. But I mean, I'm an adult human female. I don't necessarily need my party to have a line on it. I'm an embassy in that party and that's what I think. You do need them to have a line. You've just taught your support a campaign where you want people. I'd like to take some of the valuable time they've got with a local candidate and ask them this question. I would like them to have that very clear, simple, straightforward answer. I think most people, most women, just appreciate that kind of straightforward honesty rather than those umming and a ring. So there isn't a line you would say at the moment. On the party. I don't know. I'm not in the sort of inner circle of the front bench or the shadow cabinet. I don't know if there is a line. I'm not someone who is a backbencher reads the lines, particularly, but that's my line. But you are the chair of if I was chief of labor in parliament, the question. And the answer times, it seems to be a bit confused. There's always a sort of slight quantifying of that answer, and I would just like it to be more straightforward. And in terms of labor's official position around the gender recognition act that it needs to be reformed, is the position, but that also single space, single sex spaces need to be protected. What is the issue with those two positions? I think existing alongside each. There are questions on, I think his and Anna Lisa said that they want to make it easier for people who transition to self ID. And also make sure that they reinforce their protection of single sex spaces and there is a biting point there where we do have to talk about both those things and how they can coexist. And do you have faith in the party that you're in to be able to do that? I think we're getting there. The conversations are getting easier and I think they're starting to listen, but it's a bit of a shame that it's taken so long and that hasn't been so clear from the beginning and that various groups haven't been heard or listened to, who have been trying to talk about this to the party and within the party for at least three years. Okay, so because I suppose when I'm looking through what people have said recently from your party, you know, Keir Starmer has recently refused to answer when asked, can a woman have a penis? If at Cooper's refused three times, of course, a member of the shadow cabinet refused three times to define what a woman is and so she's not going to go down a rabbit hole in it..
Bloomberg Radio New York
"keir starmer" Discussed on Bloomberg Radio New York
"This year was fantastic SoftBank is such a great kind of supporter of our long-term vision and will reevaluate IPO options in the next couple of years but there is no plan at this point in time Simo congratulations on the fundraising round Good luck to you and the team timber bolt from meal kit service Gusto with an update on that fundraising and an outlook for the business Thank you Let's get the rest of the global news now with Hannah George ham Thank you Tom while I'm certainly hungry now To be honest well Boris Johnson is facing calls to resign from members of his own party after he apologized for attending a garden party in Downing Street during lockdown The prime minister told MPs he spent 25 minutes thanking staff for their effort but in hindsight should have spent every one home Mister speaker I want to apologize I know that millions of people across this country have made extraordinary sacrifices over the last 18 months I know the anguish that they have been through Labor leader Keir Starmer call for his resignation as did a handful of conservative MPs including Scottish leader Douglas Ross most Tory MPs interviewed by Bloomberg said they would wait for the findings of a formal probe into rule breaking gatherings in Downing Street and very quickly I just want to give you a bit of breaking news coming from the BBC so Jonathan van Tam is to leave his role as England's deputy chief medical officer and the health secretary has paid tribute to all his work Now France is slightly easing COVID restrictions for people arriving from the UK There will no longer need proof of an essential reason for their trip Self isolation for arrivals is also being scrapped but the requirement for a pre departure test remains The U.S. says Russia must decide if it is interested in resolving a standoff over Ukraine as a second round of talks concluded without a clear path forward Washington says Moscow gave no commitment to deescalated during Wednesday's meeting with NATO in Brussels Russia's deputy foreign minister Alexander groucho is warning the deterioration in Ukraine poses a security risk In a very Frank direct way we pointed out that further worsening of the situation might lead to the most unpredictable and the hardest consequences for European security Nestlé progress was also made at talks between the U.S. and Russia in Geneva earlier this week And Novak Djokovic has been included in the draw for the Australian open tennis but his Visa could still be canceled after he admitted a mistake on his travel declaration form Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than a 120 countries I'm Hannah George This is Bloomberg Tanner thank you Still ahead on Bloomberg daybreak Europe We're going to speaking with Bloomberg opinion economists Marcus ashworth get his outlook for the feds rate hike path does he see a lift off as early as March That's what's been flagged by St. Louis president James bullard Of course all of that following that CPI print at the highest level since 1982 That conversation is next this is Bloomberg Markets headlines and breaking news 24 hours a day But quick take this breaking news 24 hours a day But quick take this is a Bloomberg business flash And headquarters in the City of London IMAX Ramsey with this Bloomberg radio business flash we continue to digest that hot inflation print out of the U.S. yesterday CPI climbing at the fastest pace since 1982 and along with it hawkish comments from fed officials about rate hikes in the year ahead We're just a touch weaker on U.S. futures right now S&P 500 E mini futures and NASDAQ futures down just around a tenth of a percent or so the U.S. ten year yield moving up one basis .1 .75% the yield there and the dollar just weakening a little bit more today after big losses yesterday Ashley the most since May a bit more negativity in terms of European stocks the stock 600 falling three tanks of 8% in terms of the industry groups its technology also travel the best performing sectors today consumer products and services to the biggest faller Also seeing some gains for semiconductor companies in Europe after TSMC came out they raised revenue growth projections and unveiled CAPEX plans In commodities just a touch weaker for oil Brent crude falling two tanks of 8% $84 50 per barrel That's a Bloomberg business now let's get more on the global news headlines with Hannah George good morning Hannah Good morning max and thank you China is posting two political meetings in Tianjin The.
AP News Radio
Boris Johnson's Apology Is Part of a Long Tradition
"Britain's Britain's prime prime minister minister Boris Boris Johnson Johnson is is facing facing calls calls to to resign resign over over a a party party that that was was held held during during a a corona corona virus virus lockdown lockdown there there was was a a garden garden party party in in may may of of twenty twenty twenty twenty of of Johnson's Johnson's Downing Downing Street Street office office Mister Mister speaker speaker I I want want to to apologize apologize Johnson Johnson says says he he considered considered it it a a work work event event to to thank thank staff staff for for their their efforts efforts during during the the pandemic pandemic opposition opposition leader leader Keir Keir Starmer Starmer has has another another view view his his defense defense that that he he didn't didn't realize realize he he was was a a policy policy you you some some ridiculous ridiculous Starmer Starmer says says the the only only question question left left is is with with the the British British public public kick kick him him out out police police party party kick kick him him out out or or will will he he do do the the decent decent thing thing and and resign resign response response I I regret regret very very much much that that we we did did not not do do
Woman's Hour
"keir starmer" Discussed on Woman's Hour
"And it also took a female labor MP to get the amendment to a parliament that reduced the cost of prescriptions of HRT for menopausal women. Those things weren't taken up. Driven by the government, they were driven by back benches. And I think that this comes against a backdrop, the current frustration comes against a backdrop of a sense that actually the women are being ignored. And even the government's leveling up agenda. It's all about boys toys, you know, trains, buses, roads, infrastructure. And it's not about schools and public services. And actually, if you're really going to level up the country, it's got to be about education. Is this a win for labor or are they being picked or is it being picked as just the only other alternative? Does one translate to the other? Yeah, I think it's a really interesting question because a lot of support for the conservatives doesn't necessarily mean an increase in support for labor, but at the moment the women seem to be switching to labor, and certainly the difference in the views of the leaders Boris Johnson as opposed to Keir Starmer among women. They seem to be moving quite rapidly losing faith in the prime minister personally. And meanwhile, looking again at Keir Starmer and starting to think, perhaps this is somebody more competent and more decent. And there is that contrast. And I think also there's a clear switch, which is very significant politically. And just finally for Boris Johnson for the Conservative Party tube, potentially reversed this trend. Is there anything that can be done? Because, of course, at the same time, Boris Johnson has traded successfully on a reputation of getting people jabbed. Yeah, I think it's actually quite difficult for him to do anything because I think once a perception has stuck about someone's character. It's really quite hard to change it. But I think he can do some practical things. Issues of concern to him and perhaps around education or around women's safety. A major issue of course this year, which we have focused on Rachel's first, I do have to leave it there the times journalist, but reflecting on those latest figures, thank you very much for joining us and all the best to you and yours over the festive period. I have to say a word that's just come in from somebody who's listening about how they're feeling my word was disappointed before your program started, but after 5 minutes with Susie den on the words, it's smiling. So thank you. Very happy to hear that, but still other words coming in along the lines of flat and also people feeling pretty fragile and sensitive. Well, somebody who does have a clear idea of what they would like from the prime minister is my next guest, Emma Jones, because one of the examples of perceived hypocrisy is that widely shared photo that was being referred to there of the prime minister his wife Carrie Johnson in 17 members of staff drinking wine and eating cheese in the garden of number ten, taken on the 15th of May 2020, a time when the country was still in the midst of lockdown one. A spokesperson for the prime minister said it was a work meeting, and it was common during the summer months, quote. Emma Jones is one of the many people who has lost a loved one during the pandemic and she wasn't able to hold a proper funeral or see friends and family..
The Hugh Hewitt Show: Highly Concentrated
Boris Johnson Loses by-Election
"In the United Kingdom, a by election Michelle, that means they had the fellow seat a member of parliament who had to resign because of scandal. A seat that the Tories have held for 200 years and they got blown out by labor. Malone out. They got 5 alarm fire in Great Britain this morning. Because Boris Johnson incompetence social distancing from the truth is Keir Starmer put it. His antics, the hypocrisy of Christmas 2020, the new lockdown and the tax hike, which broke the platform of the Tories, have all combined to create the perfect storm for Tories. And if they have a they'll get blown out again. Now, they won't throw them out until after Christmas. I don't think there's not enough time before Christmas. Although, William Pitt the younger was put into office in 1784 in December. They called it the mince ministry, because like mince pie it wouldn't last after Christmas, and it lasted for 19 years. So I think it was 19 years. I'm recalling from memory from Andrew Roberts book. But pit the younger was 24. So look at the 24 Jim Byron who took over the Nixon library. He might become the leader of the Conservative Party. We'll see. Jim is young. And he's great and he's smart. He's like to pick the younger of not for profits.
Coffee House Shots
"keir starmer" Discussed on Coffee House Shots
"And i amanda military policy. Chairman was missing on morning media around that it did come on the doorsteps that it was an issue and i think that what you i think it would be very strange thing that this would not have an effect on the result. I think it was answer the sense that you again. What is the tory message. The tory message which was so successful in harlem. The local elections was the vaccination campaign message which gave a lot of cover for their over political messages. About leveling off in the like are they. What is difficult for them is by identity as a matter public revolt of the fact that the reopening has been pushed back by four weeks. But it's hard to say but the vaccination campaign is changing everything when you're having to delay the reopening over. Obviously we will be able to reopen on july. The nineteenth is because of the vaccination campaign but that is a haunt. Let's go arguments. Say this vaccination campaign that we have delivered is allowing the reopening when you delaying the reopening. Yeah and the the euphoria if never very low cases and you see everything on schedule is a bit different to what we're currently seeing the message that going gonna have to that and that yeah and then the second thing is the time when when the rules are being being in place for so long. People are really chafing these rules. The savannah is video of the health. Secretary breaking those rules is obviously going to draw people. And i think boris johnson's political calculation at the time was that he wasn't going to sack my gawk he. He thinks that that was a price worth paying in terms of his own relations with his cabinet in terms of feeding the media. Beast but beyond athlete have paid it. But it's go price for that in that you can't say yes. Boris johnson consi-. Oh the out on. Friday had a new health. Sexual saturday. But i mean the public knows that boris johnson didn't sack him and that as a consequence it's had this result which as as we discussed you can't say was a huge victory is victory. They've managed to hold on and we will see the most recent election before the ms chesham by the dams ticket. So i think if you think back to the lakers elections. I'm speaking to administer saying this. I think there was a general sense in the tory party..
Hollywood 360
Keir Starmer says Labour Party is closer to backing a new Brexit referendum
"Britain's opposition labor party or calling out wants the Brexit debate. Labour party's Brexit, kissed says it's now up to British parliament to take the tough decisions needed to break. The brexit. Imposs- Stomma went on to say that holding a second referendum on Britain's E membership has remained and not send this is the phase where our conference policy says. If we cannot get a general election. Labour must support all options remain on the table, including campaigning for a public vote within scheduled to leave the block on March the twenty ninth. And so far does not have a parliament and pre withdrawal plan. Many. Economists warn, this ideal scenario could have serious economic consequences labor party leader, Jeremy Corbyn, refuses to take part in the talks may has requested until she remains the possibility of an ideal departure from the table. She says there is ninety way