18 Burst results for "Lizzie Burton"
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"I'm Stephen Carroll. And I'm Caroline Hepburn. Welcome to Bloomberg daybreak, Europe Let's start with the check on the markets for you. European stock futures don't seem to be following the rally we've seen in equities in Asia, the MSCI specific index is 8 tenths of 1% higher the hang seng 1.4% higher but financial shares among the big gaining sectors there, but in Europe stocks 50 futures only a tenth of 1% are 4100 features are just flat to the upside at the moment. On Wall Street S&P immune are two tenths higher. The S&P 500 finished yesterday with gains of 1.7%, the ten year treasury yield rising further today, 27 basis points up yesterday today at four basis points higher at 4.29%, the ten year yield at 3.66%, oil prices continuing to climb though 1.31 .4% higher now for bank route at $78 and 50 cents. Now, the charter Jeremy hunt will use today's budget to try to unblock business investment here in the UK. It's going to be a tricky balancing act though. Decades high inflation weak growth and a persistent cost of living crisis have all limited his room for maneuver. Speaking ahead of the budget hunt said that he would focus on tackling the UK's chronic labor shortage. This is a budget in which I will be systematically going through all the areas where there are barriers that stop people working who want to so that we can help people get back to work, fill those vacancies for our businesses. The Chancellor's first full budget comes as hundreds of thousands of workers go on strike, junior doctors, civil servants, tube drivers and teachers are all walking out in disputes over paying conditions. The leader of Northern Ireland's democratic unionist party is called for more clarity on Rishi sunak's deal with the EU on post Brexit trade rules. In his first detailed response since the winds of framework was announced last month, Jeffrey Donaldson said there were still key areas that need changes. The foreign secretary James cleverly told our correspondent Lizzie Burton, he hopes the unionist party will support the deal. I really hope that the DUP and other politicians in Northern Ireland recognize that we have focused very much on their concerns that this is a good news for the economic future of Northern Ireland. It protects Northern Ireland's place within the union of the United Kingdom and incredibly valued part of the United Kingdom. Foreign secretary James cleverly, there are speaking to Bloomberg, the UK and the EU have hailed Windsor framework as opening a new chapter in post Brexit relations. A Russian fighter jet has collided with a U.S. surveillance drone above the Black Sea, the incident in international airspace is set to strain relations between the two countries even further. Russia's ambassador to the United States anatoly antonov denies the country's jet struck the drone. Between the United States and Russian Federation. We are in favor of pragmatic relations for the sake for the interest of the people of the United States and Russian Federation. But U.S. officials have a very different story, saying that
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"And what does it mean to the prep for the pressure on the prime minister as well? Our UK correspondent Lizzie Burton will be with us in studio with all other details. Stay with us for that. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest sound on podcasts, the SEC cracks down on crypto trading platforms with a $30 million settlement with kraken for what they called staking. I asked former SEC chair Harvey Pitt if the SEC is moving fast enough to crack down on crypto. The right question may be, are they moving too fast? But there's certainly moving quite rapidly and they are creating a very dangerous character cryptocurrency firms. Y too fast. Well, the difficulty is that we're dealing with a trend and with activity that are not well defined. And what the SEC is doing is bringing enforcement actions as their way of telling people what the rules may be, but the right way to regulate this would be to put out information that allows people to understand what the rules of the road are. How they can comply. And then if they don't comply and force law, that's not happening. So the SEC is failing and not communicating with the crypto universe is your point. I think so. Commissioner peers put out a statement which said the SEC's known about staking transactions, for example, for quite
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"Smoked salmon and scrambled eggs offensive as they're calling it continues seemingly successfully. I thought it was very interesting. The conversation between Rachel Reeves the shadow Chancellor in France are from scene LaCroix. Francine asked her about strikes. She asked her about the tax situation as we've just been talking about. And the answers are very similar to what the government's giving. She says she'll get round the negotiating table with the union. She says she'll cut taxes once the economy is growing. But the difference is, labor's in Davos and the Tories on. Okay? Really interesting. Thank you so much to both of you for joining us at Bloomberg's UK correspondent Lizzie Burton and our senior UK economist Dan Hansen. Yeah, for rapping really all of the top business lines when it comes to the UK. Let's get a bit of a roundup though and an update on our top news stories with both Louise moon, hi Luis. Hi. Thank you, Caroline. Let's start in the U.S.. The fed needs to continue to raise rates if it wants to get inflation onto a sustainable path. That's the view of two of the bank's top decision makers who say price rise data is still coming in too hot. The cryptocurrency lended genesis has filed for bankruptcy. The latest firm to collapse in the aftermath of FTX downfall. The company filed for chapter 11 protection in New York, according to court documents. It said in a statement that it plans to use the court process to try to sell assets or raise money. Adding that it would use $150 million of cash to fund itself during bankruptcy. And Bloomberg understands that JPMorgan has set aside at least $10 billion to back its foray into the lucrative world of direct lending. The sizable bet
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"Anna the IMF says that rising trade barriers against China and other countries over the past year could cost the global economy $1.4 trillion. That's 1.5% of global GDP. The warning from the IMF chief Christina georgieva comes after the funds that had expects about one third of the world's economy to enter a recession this year and next, with last output topping $4 trillion by 2026. The head of the confederation of British industry said the Chancellor's autumn statement had nothing to revive economic growth. Tony danker told us on Bloomberg daybreak Europe that Jeremy hunted prioritized stability instead, but warned that without boosting economic productivity they eat the UK would not be able to pay for rising health and social care costs. The CBI represents a 190,000 UK businesses, its annual conference kicks off today. And a city near Beijing that was rumored to be a test case for a dispensing with virus restrictions across China has asked residents to stay at home for 5 days, a potential sign that officials are reverting to tighter COVID zero carbs. Meanwhile, the country's first COVID related deaths and almost 6 months has sparked concern that Beijing could see a return of restrictions I made a continuing outbreak in the capital. 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. Those are your top stories. This is Bloomberg. Okay, those are the top stories. Let's get to what's taking place or what's in the minds of UK business right now. The UK's biggest business lobby, the confederation of British industry, is holding its annual conference in Birmingham. A couple of topics really on the minds of business leaders, all the reporting over the weekend about whether we will or won't be returning to the conversation around Brexit arrangements. Also post budget response from business. Let's get to our UK correspondent Lizzie Burton, who's been putting all of that together for us at the CBI conference. Lizzie good morning. Good morning Anna. And I'm joined here by Mark stanaland UK director of Hayes, Mark, thank you so much for joining me this morning. We were just speaking to Tony dunker the CBI director general, and he told me that what business wants isn't a Swiss style deal, as was reported and denied by the government over the weekend. But Boris Johnson's deal on Brexit is he right. I think that by Brexit and the
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"Is a law of a lot of arguments there. First, you add with the arrival of prison Macron, a very clear sign about a change. You may record the tax reforms. You may recall our show a much more flexible workload, which I've been playing a big role. Suddenly, the French have been able to basically be a lot more appease with marketing their country, and then you have to appreciate that having a president, which is staying in power for ten years, is an ocean instability in Europe when you compare it to what's happening what happened. In Italy, in Spain, or with the transitions happening in Germany, or with the four prime ministers that we had in the UK. So all of that is playing clearly when you're in the boardrooms and you're thinking about where you want to basically be public resources and really make a differences. Never forget also that the European market or the continent Europe as such is still one of the largest if not the largest market in Europe with 500 million plus inhabitants, pre rich and I think all of that plays in that direction. So you can not just put it at the Brexit. The Brexit is one of multiple key factors, which is basically bringing France for the third consecutive year in a row as the main the most attractive countries, but it plays this world. Pascal, I think the key question that businesses and consumers want to know is how permanent these effects are. I was interviewing former Bank of England policymaker Michael Saunders. This week he told us that the UK economy as a whole has been permanently damaged by Brexit for you will the effects on France last. I think it will last, you know, I've been living and I've been welcomed very well in UK for 13, 14 years. I just hope that the UK, where we cover, if there is one characteristic which basically characterized UK is this ability to resilience, there has been over the years. So what I really believe is that the back seat is taking a huge storm. We'll continue to do so as some part of time, everyone will realize that I think a large market liberal lie the UK despite the challenge at the moment will continue needs to be continued to be served by the industry. But yes, yes, yes again. Paris Amsterdam, Frankfurt, and the overall continued Europe benefit of that. I don't know how to better explain this, but clearly when you see where the investment goes, we talk about 1600 projects and business firms, the agency, I'm sharing essentially we see a very strong dynamic despite the challenge. We just heard about the 11.1% of impressions in the UK to compare to I suspect 6.5 to 7% in France. All of that plays a huge role. Okay, Pascal can you chairman of business Friends? Thank you very much for joining us on Bloomberg radio this morning, interesting to hear your insights as we have, as you mentioned, just gotten that reading on inflation here in the UK. It's just gone 7 30 here in London. Good morning to you if you're just joining us on Bloomberg radio, I'm Stephen Carroll. And I'm Lizzie Burton, you're listening to Bloomberg, daybreak, Europe live from London. On the markets, this hour, the embassy Irish Pacific index is half of 1% weaker Euro stocks 50 futures nudging slightly below the flat line although not by very much S&P E minis are just a tenth of 1% stronger this morning. Markets digesting, of course, the latest news out of Poland about that rocket strike killing two people, but also the broader picture around inflation and the challenges that presents for the economy, the pound is a tenth of 1% week on cable, one 1850 after that inflation print at the Euro is trading at one O three 76. Now in your top stories this morning, a U.S. preliminary assessment of the Russian made rocket that struck Poland, killing two people, suggests that it was fired by Ukrainian forces targeting an incoming missile. That's according to AP, who's citing the three unidentified U.S. officials. U.S. president Joe Biden and key European leaders are urging caution over jumping to conclusions. And
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"Head down to Washington D.C., get ruled in national news with Nathan Hager. All sweetie, the European Union's looking whether to sanction Iran over the latest Russian attacks in Ukraine, officials say at least four people have been killed in the capital Kyiv with Iranian made kamikaze drones he of mayor vitali Klitschko. We see how many people died. I'm guilty people. All people, civilians. He is mayor Klitschko. In the UK, Chancellor Jeremy hunt has ripped up almost all that was left of prime minister Liz truss's economic program, Bloomberg's Lizzie Burton has more from Westminster. He's absolutely nuked trusts on he's reversed most of trusses, tax cuts. He's limited the energy bailout that she was always taunting the opposition labor leader Keir Starmer with the package was bigger than his. Now it's going to be reviewed in April to try and save the government some money, a huge humiliation for trust. Bloomberg's Lizzie Burton trust sent House of Commons leader penny mordant to defend the move before the House of Commons opposition leader Keir Starmer says trusses hiding. Nearly a year into a nationwide shortage, many families are still struggling to find baby formula. A recent Census Bureau survey cited by The Wall Street Journal finds roughly one in three households with babies who typically use formula had trouble getting it in the last month, nearly one in 5 of those affected had less than a week's supply on hand, a recall from Abbott labs in February compounded supply chain issues that started last year. Global news on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts to more than 120 countries
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"November the 23rd is another story. Ultimately, quasi crossing is going to want to give out the message that a radical package of reforms was necessary to reset the economy. It's going to be all about growth, but that is a massive gamble in which the markets don't have faith. So really, they want to change the narrative both inside the party and outside in the country ahead of an election in 2024. The compromise is just not a place where anyone is happy. And Lizzie, you know, I think from the markets perspective is you will understand that the markets do not like uncertainty and that's clearly what we have over there in the UK because let's trust was defiantly standing behind her economic policies just a day or two ago and then did this radical U turn and as you said through her quasi quark Tang under the bus and kind of reverse course, what happened do you think in that short period of time? Well, I think the political and market pressure got too much for them. And where I'm saying that this one measure, even though it was a rabbit out of the heart, the most politically contentious measure. It is just a small part of the overall package. And so cities saying that they don't think this U turn is suggestive of a lasting rally in the currency. So really, you could see much more market turmoil to follow. Because it doesn't solve the U turn doesn't solve the fundamental problem here, which is that all of these measures are going to be funded by borrowing, and there is no official forecast to accompany their company a convenient. Lizzie, thank you so much. Lizzie Burton, north of London and Bernie and was great to meet with her during our coverage of the queen's funeral. She did a great job. She decided Buckingham Palace. It was really quite good. Features of 38 down futures up three 35, 29,000 level. With our news in New York City is Michael Barr. Tom Paul, thank you very much in Southwest Florida to search for its vibrators continues among the wreckage of hurricane Ian rescuers are also finding
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"Just over about $19,000 per token here, but we definitely have some green on the screen. Let's get some more color on that pre market equity trading. Those Bloomberg markets correspondent pretty good at creating what you have for us this morning. Well, we got to start off the fourth quarter with a fan favorite Tesla down about 4%. It was down as much as almost 7% earlier in the session. This comes after they come out with some record delivery numbers. And you would think record delivery would be a good thing, except the momentum here is what is being criticized. The idea that the jump in those deliveries to get to that record number wasn't as large as expected basically what they're saying is well, we weren't able to produce as many cars. We weren't able to get them to the customers as quickly because the supply chain issues. And remember Tesla and big shout out to Ed ludlow, who's our kind of resident Tesla reporter here. He pointed this out early early on to me and he said, look, Tesla is known for locating their factories very close to where they get some of their commodities, inputs from. So think metals think copper. They're Shanghai factories just down the road from where they get a lot of those raw materials to avoid situations like this. And two Tesla's credit, it was something that was helping them get ahead of inflation issues, supply chain issues, et cetera. Now they're saying, look, it's caught up to them. And that's where you're seeing Tesla shares down. Like I said, 4.4% this morning in the pre market. It was down as much as 7%. And the question here is for analysts anyway when you're looking at some of the commentary is this is the first time it's kind of hit their stock, how long will some of these struggles really last? So that's the one I would keep in mind. It's a heavy weight in the S&P 500. As is, by the way, some of these oil companies, ExxonMobil, you want to keep an eye on XOM moving in the other direction up about 3% in the pre market, falling with the oil prices are doing. I mean, this is going to be an anticipation of a widely expected production cut from OPEC plus this week. They're saying that although $88 a barrel on Brent crude is not a number that oil consuming nations like ourselves are very happy to see. But for a lot of these Middle Eastern countries, it makes a good chunk of their budget right now that drop from a 125 back in March is not a good drop and especially in the face of the dollar. Okay, WTI crude oil here we're up about four and a half percent today to just above $83. I don't know. The cost of production in the U.S. is what? 45, $50 a barrel. They're making money here. And it's even lower, I would think in OPEC, so. Yeah, well, I think the expectation here is that the reason you're seeing the drop in oil price is not just the dollar, it's all these recessionary odds as well. So they're saying, well, if a recession is coming, we better cutting production now in advance is that anticipation of seeping into the stock market. I'll leave you with one more. And that's Chevron because when you look at Exxon, you have to look at Chevron as well. CVX is your ticker there. And in the second, it's going to load on the handy dandy. Bloomberg terminal, those shares up about 3% as well. All right, good stuff. Pretty thanks so much. Greatly appreciated futures. Up 36. Bloomberg surveillance this morning brought you by Cohen Resnick, advisory assurance tax business strategies, financial intelligence viewpoints, all in one place, visit con Resnick's C suite dashboard, con Resnick dot com slash C suite, Paul, did I get a lecture this morning? I said, Birmingham. In pharos. Oh boy. No. When Lizzie Burton speaks as Birmingham. Birmingham. I don't know. It's like some northern, if you're like 20 miles north of London, it's Birmingham. Birmingham. Okay. Joining us now from Birmingham. Elizabeth Burton joins us here to give us an update on trust economics. Lizzie, how is the afternoon going for the prime minister in her distracted beleaguered Chancellor? Well, I got to tell you Tom here, they said, so you've got it all wrong. What a show. Another woman telling me I've got it all wrong. All right. Just shock. Listen continue. She's having a very difficult day. Clearly, the pressure got to Liz trust. And she first of all, through her Chancellor quality crossing under the bus blamed him for this policy of cutting the top rate of income tax and now it's been announced that they're U turning on it. And the Chancellor has said it's a huge distraction, but he's refused to rule out more U turn. So the government is hoping that this is going to be enough of a reset, but really it just shows how vulnerable this was. And rebuilding credibility, whether you're a normal person or a government, is always difficult to do once you've lost it. It's a political gathering, can they calculate the number of furious Tories who will change their opinion of the government because of today's festivities? Well, there is furious Tories seem to have been rallying around Michael go. So former cabinet minister, he spoke out about this yesterday on the BBC and said that the top rate of tax cut wasn't aligned with Tory values. We were speaking to Tory MPs who said that they were lobbying the chair of the 1922 committee of conservative backbenchers to change the rules so that they trust didn't have a year's immunity from a confidence vote. So it'll be interesting to see how many of those Tory MPs are okay with just removing this one element from the budget because of course it's just a tiny element of it. I spoke to the chief Secretary of the Treasury Chris Bill earlier and he admitted that this is just less than 5% of the value of the overall package. There are loads of other politically toxic elements in this budget like the cap on bankers bonuses being removed. And so you have to ask whether this just opens the floodgates to more rebellion from Tory MPs. So Lizzie quasi quartan is expected to speak in just a couple of hours there. What do you expecting? What are folks expecting there? Well, I bet you he has ripped up his speech that was thrilled for a journalist last night and rewritten it. What was trailed to us is that he's confident the plan is the right one. Oh, the irony. But I'm sure that he's going to emphasize how much all the other tax cuts and supply side reforms will grow the economy. But whether the office of budget responsibility, the official fiscal watchdog agrees with that when it makes its assessment on
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"We go for world national news with Nancy lion's hands. Thanks, Tim. House Republicans are promoting their agenda ahead of November's crucial midterm elections. They held a rally today in Pittsburgh to talk about the commitment to America plan. House minority leader Kevin McCarthy says they're going in a new direction that's based on freedom. Our job is to work for you, not go after you. Our job is to make America strong. McCarthy's four point plan prioritizes illegal immigration, the opioid crisis, combating crime and increasing fossil fuel production. President Biden says he believes what's most telling about the GOP plan is what was not mentioned. In the course of nearly an hour, here's a few of the things we didn't hear. We didn't hear him mention the right to choose. We didn't hear him mention Medicare. We didn't hear him mention social security. Biden also accused many Republicans of hypocrisy for praising police while defending rioters, who assaulted police during last year's capital attack. British prime minister Liz truss is shaking up the British economy by introducing the most sweeping tax cuts since 1972. Bloomberg's Lizzie Burton has more on the reaction. Markets reckon it's going to add to inflation. That's why traders are now pricing for a hundred basis points from the Bank of England in November. Secondly, it's clearly going to necessitate a lot of borrowing, the institute for fiscal studies says, while it's going to add to borrowing, it won't necessarily stimulate growth significantly. Bloomberg's Lizzie Burton in London that package was more ambitious than expected. 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 Nancy Lyons
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"Royal correspondent at newsweek. I do wonder about the broader royals and what that means in terms of their role going forward. Yeah. In just a few minutes. First up though, let's get a check the world in national news with Nancy Lyons. Thanks, Tim Queen Elizabeth II has made it to her final resting place in saint George's chapel in Windsor. Bloomberg's Lizzie Burton says the state funeral that was conducted earlier today reflected the queen's wishes. She invited not only the 2000 guests, including the 500 dignitaries from around the world from U.S. president Joe Biden to Japanese emperor Naruhito, but also in there were the recipients of the Victoria and George crosses, the highest honor she could bestow upon her people. And she was in a way honoring them by having them there too. Bloomberg's Lizzie Burton reporting from Westminster. House and Senate leaders are running out of time to lock down the details of a bill to keep the U.S. government from shutting down at the end of the month. President Biden has asked for $50 billion in extra spending to be attached to the so called continuing resolution, there is bipartisan support for more than 18 billion in aid to Ukraine and emergency disaster funds, but lawmakers are at odds over nearly $27 billion for COVID and monkeypox spending. Congressional leaders also have yet to resolve a demand from senator Joe Manchin, he wants language included that expedites the permitting process for energy projects, including a pipeline in his home state of West Virginia. In Washington, I'm Nathan Hager, Bloomberg radio. His story was heard by millions on the serial podcast today of Baltimore judge overturned the conviction of adnan syed and ordered his release to home
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"It's 6 30 on Wall Street. Good morning, I'm Nathan Hager. And I'm Karen Walsh gow and we're just about three hours away from the open of U.S. trading time for the 5 things you need to know to start your day in a first we begin in Ukraine where the nation's military is making significant strides, forcing Russian defenses back and retaking some key areas, and marks one of the biggest successes for Ukraine since Moscow's invasion. Bloomberg's Ross Madison says Russian defenses appear caught on their heels. The last few days has been really rapid progress particularly in the eastern haq going through towns very, very quickly, pushing the Russian forces back closer to the Russian border. In fact, the departure by the Russians became so rapid it became quite chaotic stuff abandoned beside the road, tanks left, troops running in all directions. So certainly quite a sense of chaos on the Russian side at the speed with which the Ukrainians have pushed through these towns. Bloomberg's Raj Madison says Ukraine believes it's recaptured about 3000 km² of lost territory. Well, Karen, let's turn now to the UK where morning continues for Queen Elizabeth II. King Charles has wrapped up remarks at Westminster where political leaders had gathered to offer their condolences while the queen lies in state in Edinburgh, Scotland before being moved to London. Bloomberg's Lizzie Burton has more from Buckingham Palace. Tomorrow, the coffin will return here to Buckingham Palace and then from Wednesday until the funeral now confirmed for September 19th, the queen will lie in state at Westminster hall. You've got some UK newspapers this morning, estimating that as many as a million people will file past the coffin that could create a 5 mile cue, but really it's an outpouring of national grief that none of us has likely seen in our lifetimes in the UK and it leaves the government paralyzed in literature as his second week as prime minister. Bloomberg's Lizzie Burton says the queen's funeral will be held in Westminster Abbey one week from today. Well, he turned out Nathan to the mood on Wall Street this morning with U.S. futures in stocks overseas rising and that's giving strength to the pound in the Euro. For the next major catalyst for markets Karen comes tomorrow when we get the latest reading on U.S. inflation, economists predict a monthly decline in the consumer price index with a fall of one tenth of 1%. And as prices remain high, Nathan railroad workers are threatening to strike for more pay, tens of thousands of rail employees say they could walk off the job this week as labor negotiations remain challenging. They warn that a strike could cost the U.S. economy more than $2 billion a day. And that's the 5 things that you need to know to start your day. All right, Karen, thanks, S&P futures right now we're up 20 points. Now, futures up 121 NASDAQ futures higher by 65 points straight ahead your latest local headlines and a check of sports, this is Bloomberg. And at 6 33 on Wall Street where it's 69° in Central Park, it is heavy on the northbound FDR, drive with that accident at a 106th, details coming up in traffic
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"On Wall Street here listening to Bloomberg daybreak and good morning. I'm Karen Moscow, along with Nathan hanker, we're just about four hours away. From the open of U.S. trading and we want to get you up to date on the news you need to know what this shower. We begin in Ukraine, where the nation's military is making significant strides, forcing Russian defenses back and retaking some key areas. It marks one of the biggest successes for Ukraine since Moscow's invasion. Bloomberg's ros Madison says Russian defenses appear caught on their heels. The last few days has been really rapid progress, particularly in the eastern haqq, going through towns very, very quickly, pushing the Russian forces back closer to the Russian border. In fact, the departure by the Russians became so rapid it became quite chaotic stuff abandoned beside the road, tanks left, troops running in all directions. So certainly quite a sense of chaos on the Russian side of the speed with which the Ukrainians have pushed through these towns. And Bloomberg's Ross Madison says Ukraine believes it's recaptured about 3000 km² of lost territory. All right, let's turn now to the UK, Karen, where morning continues for Queen Elizabeth II, King Charles has just arrived at the parliament he'll speak at Westminster today while political leaders gather to offer their condolences. The queen lies in state and Edinburgh, Scotland today before being moved to London. Bloomberg's Lizzie Burton has more from Buckingham Palace. Tomorrow, the coffin will return here to Buckingham Palace and then from Wednesday until the funeral now confirmed for September 19th, the queen will lie in state at Westminster hall. You've got some UK newspapers this morning estimating that as many as a million people will file past the coffin that could create a 5 mile queue, but really it's an outpouring of national grief that none of us has likely seen in our lifetimes in the UK and it leaves the government paralyzed in Liz trust's second week as prime minister. Bloomberg's Lizzie Burton says the queen's funeral will be held in Westminster Abbey one week from today. Well, Nathan, we turn now to the mood on Wall Street this morning, U.S. futures and stocks overseas are rising. The dollar is weakening and that's giving strength to the pound and the Euro. Now the next major catalyst for markets Karen comes tomorrow when we get the latest reading on U.S. inflation. Economists predict a monthly decline in the consumer price index with a fall of one tenth of 1%. And as prices remain high, Nathan railroad workers are threatening to strike for more pay, tens of thousands of rail employees say they could walk off the job this week as labor negotiations remain challenging. They weren't that a strike could cost the U.S. economy more than $2 billion a day. And again, futures are higher, S&P futures up 24 points this morning down futures F 149. NASDAQ futures up 82. The Dax in Germany is at 1.6% in Paris at 1.2% in the FTSE 100 at 1.3%. M and EK two 25 in Japan gained 1.2%. Ten year treasury up three 30 seconds, yelled 3.29%, they yield on the two year 3.54%. Nymex crude oil is up 1% or 90 cents at 87 67 cents a barrel. Comex gold up half percent or $8 70 cents is 1737 30 ounce. The Euro one O one 6 8 against the dollar. British pound, 1.1679, the yen one 42.71, Bitcoin is up two and a half percent at $22,190, and this is Bloomberg
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"To Washington, D.C., another star, Nathan Hager, world of national news. All right, Paul, thank you watching a live video of a motorcade in London carrying Liz truss, the new prime minister to number 10 Downing Street where she will deliver her first address as the UK's new leader. She formally took the reins from Boris Johnson this morning met with the queen at her balmoral estate in Scotland, and we're told is finalizing her plan for the country's energy crisis. Bloomberg's Lizzie Burton has more from number ten. Is planning to freeze gas and electricity bills for consumers. That's according to policy documents seen by Bloomberg that say this plan could cost up to a 130 billion pounds. And we're also expecting a separate 40 billion pound plan for business. Bloomberg's Lizzie Burton reports, prime minister trust is expected to announce the plan on Thursday, but she gives her first address later, today will have it for you. You have full coverage here on Bloomberg radio. Former president Donald Trump got his wish for an independent third party, a so called special master to go over the classified document seized from his Florida home. A Trump appointed federal judge ordered the Justice Department to stop using those records to build its criminal case against the former president. Bloomberg's Joe Matthew reports, the probe was likely headed into limbo anyway with November elections coming up. Just kind of an unspoken 60 day rule. That's why they're not likely to say anything between now and the midterms. But next year could be open season and just imagine document drops. Breaking news coming from this case on the eve of a presidential debate, this could be wild. Bloomberg's Joe Matthew in Washington. 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 in Washington. I'm Nathan Hager. This is Bloomberg. Hey
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"Let's head down to Washington, D.C. world and national news with Nathan Hager. Paul Sweeney, the United Kingdom officially has a new prime minister, Queen Elizabeth, asked Liz trust to form a government this morning. That is the final formal step for the new conservative leader to take power. Trust succeeds Boris Johnson, who promised in his farewell speech not to be a backseat driver, but Bloomberg's Lizzie Burton reports Johnson might not be closing the door to another run for higher office. He did classically refer to that successful Roman general who I had to look this up, retired, made a comeback, and then returned to his plow. So the question is whether Johnson was dropping a hint that he might have a return to frontline politics at some rate along the line. Bloomberg's Lizzie Burton outside number 10 Downing Street. The investigation into classified documents that former president Donald Trump's Florida home could drag on for many more months, a federal judge has granted his request for a special master to review records at the FBI seized for attorney client privilege and executive privilege, more from Bloomberg's Joe Matthew. The judge says the DoJ can not continue reviewing documents for the case during this process. So that's going to come to a halt. Intelligence officials, however, will be allowed to continue looking for any possible risk to national security. Those are two separate processes here Bloomberg's Joe Matthew in Washington. Just in time for back to school, the nation's second largest school system has fallen victim to hackers, the Los Angeles unified school district says it noticed unusual activity on its IT networks over the Labor Day weekend, confirmed it was hit with a ransomware attack, it's not saying whether any cash was asked for. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"I'm Caroline hipco blue base Lizzie Burton will be joining me in just a moment to go through the day's top stories. But firstly, let's give you an update on the markets then and key this morning really remains the strong dollar. The Bloomberg dollar spot index right now up by a quarter of 1%, Asian currencies are weaker, the Japanese yen, slipping, for example, down three tenths of 1% this morning, one 36, 27, the offshore yuan also down some three tenths of 1%. The British pound no respite we'll talk about consumer confidence in a moment and we dropped two tenths of 1% on cable at one 1904 in terms of stocks, the MSCI Asia Pacific index is down three tenths of 1%. U.S. 50 features are down two tenths along with the U.S. features for the S&P and NASDAQ dropping around two tenths of 1% ten year treasury yields at two 91 up almost three basis points and in other markets, WTI crew feature slipping four tenths and crypto, Bitcoin and Ethereum both dropping around 3% this morning. Right, those are the key figures to think about when it comes to the markets. Let's go to our top news stories though, and we begin here in the UK, where consumer confidence has plunged to a record low as concerns about a recession increase and sawing inflation is squeezing household finances, Bloomberg's lower right reports. Has said its gauge of confidence declined three points to -44 in August, the lowest since records began in 1974. These figures reflect a yearlong surge in inflation which hit a four decade high of 10.1% last month, driving up the cost of everything from food to energy and clothing. The Bank of England expects prices growth to top 13% in the coming months, a separate survey of business output by lloyds bank shows a drop across 9 of the 14 industries tracked. The report showed ten sectors saw a drop in demand with tourism and recreation hit hardest. In London and Laura Wright, Bloomberg daybreak Europe. European natural gas features hit a fresh record on Thursday as the energy supply crunch continued to batter the region, the benchmark price rose 6.7% to €241 per megawatt hour, topping the previous record which was set in early March when Russia's
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"Bring you some of our other top stories as Lizzie Burton. Thank you, Caroline. In the U.S., the fed has hiked interest rates by 75 basis points for the second straight month with chair Jaime Paul saying a similar sized move could be possible again. Paul rejected speculation that the U.S. economy is in recession and he also said that rather than offering explicit guidance on the next rate move, policy will be set on a meeting by meeting basis. Powell also said the fed will slow the pace of increases at some point. Over in Asia, international flights into Beijing, a restarting after more than two years after China eases parts of what is the still the toughest pandemic border regime in the world. Air China's website shows a direct flight from Paris once a week, while ANA will resume weekly flights from narita in August. China has halved the quarantine time, required for incoming travelers to 7 days. And every woman's body is beach ready. That's the message from a Spanish government campaign which is encouraging women of all different shapes and sizes to enjoy the summer and get their beach wear on, but not everyone was impressed by the campaign, some Carolina calling it to include men. Ah, okay. Something lighter bed to end that little round up of top stories. Thank you so much, Lizzie Ben. Right, let's get back into the earnings, shall we this morning? So 5100 IT and analytics company relics reported adjusted pre-tax profit this morning. For the first half of the year, it beat average Alice estimates came in at 1.16 billion pounds, up 22% year on year, the Lexus nexus owner says that it expects underlying growth in revenue and operating profit to remain above trend for the full year. Share price currently looks to be down about 1.7% in trading this morning. But I'm pleased to say that we have the chief financial officer of relics, Nick lough, joining us this morning, Nick, welcome back to radio. Thanks so much for being with us on Bloomberg. Just first of all, how do you see the second half of this year kind of big picture because you've got the kind of spending splurge after the pandemic really fading and a lot of worries about recession in the U.S. and Europe in the UK now. Well, for our business, what matters is what's happening in our individual industries and our products and our product rollout. We're not particularly exposed to economic activity, clearly a stronger economy would be better than a weaker one, but scientific research, healthcare, the legal profession, financial crime compliance, preventing fraud, all those sort of things that we do, they the secular trends are very strong and ten not to be influenced as much by the economy and what influence we do see tends to be later and smaller. So when we look forward, we obviously seeing good results in the first half and as we enter the second half, we've got good momentum across the group good pickup of our data and analytic tools from our customers and that's continuing. Nick, you say you're not that exposed to economic activity, but how are you responding to inflation pressures? Surely you have higher costs that you need to pass on to consumers and how much can you do that when you've got such a subscription based model? What our cost structure is very similar to our revenue structure in that regard. We aren't exposed to commodity prices. We don't have fuel costs or anything like that. There are small parts of the cost base where we've seen some high inflation, but nothing that we can't manage in the overall context, a lot of our costs under long-term contract on some agreements. So again, move more slowly. And we are constantly looking to innovate around process to make ourselves more efficient automate processes, move activity to the cloud rather than using our own data centers, that sort of thing. And as you see in the first half results, all three of our big businesses improve their margins. So notwithstanding the overall backdrop of inflation. Yes. A lot of your revenues, most of them, I think, come in U.S. dollars, so you did get a big currency boost this quarter. Does that fade in the second half or do you see continued dollar strength helping the business? Well, I won't forecast exchange rates, but if rates stay where they are, the benefit to our fully results actually would be slightly more than it was in the first half. So it's certainly compared to spot rates today compared to where they were last year. There's a further boost to come. Nicola of larger tech names, media, broadcasters, are seeing advertising spend slowing down meta, for example. Does that concern you in terms of available budgets? Well, the year ago had a significant exposure to advertising, particularly when we did print magazines, but that's all gone. Very, very little of our revenue comes from advertising. Most of our it's on subscriptions or long-term contracts. And what drives demand for our products is. Identity verification fraud prevention, healthcare and those are not things that are cyclical in the same way. So the backdrop for us is not quite the same. What's your M and a outlook? Relics is tended to make quite a process it's not quite the same. What's your M and a outlook? Relics tended to make quite a lot of sort of mid to smaller size business deals kind of bar torn acquisitions that's been part of your model, I suppose. What do you focus on now in terms of M and a? Yeah. I mean, I think the most important thing to say is that overall objective is and really is focused on organic development and we have lots of opportunity to grow this business organically pushing to adjacent markets, pushing the new geographies, develop new products, new analytics, new datasets. But as you say, we do look to add to that and supplement that with acquisitions. They tend to be relatively small compared to the size of the company. We spent 300 over 300 million pounds in the first half of this year on acquisitions. So it's looking like a pretty normal average year for us, but clearly depends on opportunities. And we're always looking to see what new capabilities, new datasets, new technologies that we can bring into our offering. And there are lots of companies doing interesting things that we look at, but they have to fit with what we're doing. And be available, which we'll see how the overall market evolves from that point of view. And in terms of the event side of your business, how can you rebuild attendance given the squeeze on marketing budgets? Well, obviously, the key variable in recent times for the expeditions business has been the availability of venues and the ability to hold events. So we are very much staying flexible with
Bloomberg Radio New York
"lizzie burton" Discussed on Bloomberg Radio New York
"To us especially That's the chief financial officer of continental dura field speaking with Bloomberg after their first quarter results were out earlier interesting to keep an eye on how those auto parts manufacturers and of course tires being conscious on tiles big businesses playing into the wider supply chain story as well Yeah second biggest car parts made make it in Europe a pretty enormous company Fans fascinating readout on the state of the global economy Let's take a look at some of today's newspaper headlines here in the UK and not surprisingly yesterday's state opening of parliament is front of most of the papers The metro has an image of Prince Charles looking at the queen's crown after she pulled out of delivering the speech with the play on words wish you were ER The son has a similar splash with the headline I hope I did you proud mummy the son headline writers doing themselves pride I think with that one was off The Guardian claimed the Tories are bereft of ideas to tackle the cost of living crisis after criticism that the queen's speech didn't go far enough in supporting struggling families now some data outs on that today that are a number of people I think more than a million people could drop into what one think tank called destitution Yeah that's a really stark figures as well Interestingly the eye reporting today the prime minister making a U turn and could be revealing more in the coming days We're hearing a little bit more about the hopes for what Boris Johnson government can do from our UK economy portrait Lizzie Burton a little bit earlier on the program as well Yeah the daily express has the same story saying that Boris Johnson promising firepower to help hard hit families We're told by Michael gove that it won't be emergency budget but it does sound like something more is going to be coming from the government they're teasing some sort of statement over the coming days and weeks on that matter Yeah well the times is picking up on the proposal by the government to allow cancels to tax the profits of developers.
Bloomberg Daybreak Europe
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"Been able to do without those three minds coming together and solving a problem is one rather than solving it in isolation and jit New Jersey Institute of Technology Learn MORE AT N J I t dot e d u Broadcasting 24 hours a day at Bloomberg Com on the Bloomberg business APP and at Bloomberg Quick Take This is Bloomberg Radio. This is Bloomberg. Daybreak Europe. We expect economic activity to accelerate in the second half of this year, you could probably waiting until the autumn for a potential first adjustment. The national approach has been working when it comes to restrictions, the warning that there can't be a national recovery without a London recovery. This relationship between the US and the UK it's strong. It's got very, very deep roots. It'll stay strong. Bloomberg Daybreak Europe on Bloomberg Radio. Good morning from London. I'm Ana Edwards. And I'm Roger hearing in your listening to Daybreak. Europe live on London Digital radio, and we checked the markets for you every 15 minutes here on Bloomberg radio. So let's get straight to that, Shall we? European equity markets, then Roger up by 3/10 of 1%. Not so for the London market fairly flat, actually in London, but elsewhere. We're making some better gains on the major markets to the cat around up by 4/10 of a percent. This after tax up by an eight the first email also up by 2/10 of a percent, and, in fact, the IBEX now joining the footsie and being a little lackluster today, down by 1/10 of a percent over in Madrid, US futures point to something flats are positive up by around an 8% on E Minis, Dow futures and NASDAQ futures pointing higher by around 1/10 of a percent. The S E. Asia Pacific index entirely flat are not giving us a great deal of of momentum as we move into the European session but actually allowing the European session to reflect on to Sort of converging and divergent forces that we have driving things right now. On the one hand, there's a concern around clamp down on so called vice stocks in China that's weighing on the Hong Kong market. There's also concern about the spread of the delta variance in China, and we know the reaction function that that then could prompt from Chinese authorities. So there's concern about growth in China. All of that sounds pretty negative, but that rubs up against what's been a fairly solid earnings season. Four European corporate in a number of European companies upgrading their guidance. And even those in the sectors where they're concerned around Chip supply shortage the messages that they want to be able to produce more so there's a lot of positive narratives coming out of the earnings season. And that seems to be taking the limelight so European equity markets edging higher this morning at the oil price, recovering a little bit from some of its earlier weakness. 70 44 is where we trade on brands up 1/10 of a percent. The U. S 10 year yield. It was down as low as 1.13%, then moved a little higher on some comments that were perceived as a little more hawkish from Clara during the feds were 1 18 on the 10 year yield. Right now, the dollar flat to negative so down by around 10 per cent on the Dollar Index and the Bloomberg Dollar Index the pound little stronger on Bank of England today, Roger Well, speaking of the Bank of England, it is decision day today, and one question will be course which central banks going to be the first to the Taper Trigger? Will Bank of England policymakers seem likely to favour patients? Michael Saunders is set to be perhaps alone dissenting voice. They're calling for an immediate end to the bond buying program. Let's bring ourselves Up to speed because we can go straight to the bank outside the bank. In fact, Bloomberg's UK economy reporter Lizzie Burton joins us now, Lizzie Good morning and thanks for being with us. What are we expecting from the Bank of England today? The drugs are set to dominate. Today. We're expecting a unanimous vote to keep interest rates on hold at North 0.1% and I'm bond buying a 71 split with Michael Saunders. This time, as you say the sole dissenter in favor of ending stimulus early he'll take the hawkish man told that Chief