35 Burst results for "Mario Draghi"
New European Central Bank chief holds her first rate meeting
"Thank you up next we get a policy decision from the European central bank plus Christina guards first press conference as president analysts expect no change the policy but the guard could face questions about how to deliver more stimulus with rates already in negative territory Paul sheared is a senior fellow at Harvard Kennedy School when the central bank is running low on interest rates ammunition that is a surefire sign that the time has come to bring in fiscal policy not in a temperate basis but you know to help monetary policy out and for the two of them to work together in the same direction until it's mission accomplished the guard and former president Mario Draghi have both pressed for additional government spending the guards communication will be closely watched today after a career as a lawyer and politician she's the first ECB leader to have never worked as a
Lagarde calls for 'new European policy mix' and ECB strategic review
"Because Christine Lagarde just gave her first policy speech as president of the ECB does come light on policy to be honest but she didn't seem to be giving us her interpretation of Mario Draghi in terms of asking for the European governments to help her with a bit of a new policy mix and she said she's going to conduct a strategic review of monetary policy in what appears to be in attempts to heal the wounds that divided the central bank in the last few months of Mario druggies ten years so very
Incoming ECB President Lagarde: Trade tensions biggest threat to global economy
"Christine Lagarde set to take over as the European central bank had in November and. is she going to be pressured to deliver more stimulus says Europe sort of teeters on the brink of what appears to be Dave a major recession. yeah I think you're right on your Christine Lagarde is the new ECB president taking over for Mario Draghi she was the I MF president and she's a very sophisticated smart lady who is qualified but think about the job the cheese inheriting sixteen trillion dollars of negative yield so you know if you're in Germany or Italy or other places they're literally pain you to take out money trillions of dollars in there is no evidence at all that this has worked so as you said will there have to be more stimulus and what does that mean in why do we care here in the United States a big reason why that we how are have been lower yields here in the United States is because of pressure from overseas their negative yields are forcing down our yields in fortune are fed president to lower yields and so what is she what is she going to do it's it's really a tough a conundrum because you think about hotel California here are you once you get into negative yields how do you get out and you saw what happened here in the United States just a couple of ticks up last year and we had a meltdown in the fourth quarter it's going to be difficult to move forward well this is the thing it's very obvious to everyone who watches such things that negative yields simply aren't sustainable in the long term but in the short term it almost seems as though Europe needs this sort of stimulus so how does Lagarde kind of find a happy medium to keep the European economy afloat especially since it's going to be a rock no matter what because we're we're staring at the the barrel of the gun of hard brags it I just saw Nigel Farage come out and said that the biggest thing he the biggest mistake you ever made was trusting elites in his country to get something that they promised to the voters actually done but he says come hell or high water Europe Bob Great Britain I should say will be out of the E. U. this is obviously going to have an impact he has one one set up for. this question Davis is what's the next move for Lagarde what's the first move really one of the first movies yeah she has nineteen different governments that she has to get the plate nice together I mean that that's really the hard part she's gonna have to get team work across nineteen a different governments and think about you know the Germans and the Italians and the French all trying to agree on site type some type of capital movement it will that's number one the second thing in in what's removed in maybe it's not monetary policy and you saw that happen here in the United States they said maybe the fed has done what they can do now it's time for fiscal stimulus and you saw when trump come in in in we saw a tax cut in some deregulation the market took off from here we'll have to see if maybe that's the movie and maybe it's not for monetary stimulus but its fiscal stimulus in I we are watching this very closely because of negative yields in over in Europe are driving down our yields Dan and I think that is going to continue and in the meantime we're seen C. E. O. confidence go down for a number of reasons including what senator Warren is talking about with more taxes in there's talk right now from C. E. O.'s Dan that if they want to get something done that
The Last ECB Meeting Under the Control Of Mario Draghi
"The ECB to start off with so we've got the last meeting meeting today under the control of Mario Draghi the ECB boss. That's been there during the financial crisis and he is likely because we're seeing Germany many probably tipping into recession other countries in the euro-zone slowing down considerably. He's going to start more monetary stimulus and political. I I mentioned hair because does he want to restart constitute easing where he's buying debt buying government debt in the markets to pull interest rates because that that the problem with that is lois borrowing costs for governments and that means governments are less less likely to reform their economies because it makes it takes the pressure off governments if they face nice very high borrowing costs. They have to be more in control of their budgets. If the borrowing costs rip down by the European Central Bank then go we don't care about budgets you could just spend loads of money which which is kind of the Italian attitude that so so the trouble with this is one. I'm not sure it's actually going to do much good. The official interest rates for banks is already already negative no point four percent if he cuts that further the Nazi just does damage to banks because it costs them therefore to have cash deposited the European Central Bank if he starts Qaeda as a whole Lotta people who don't like you and we're doing this right before his very last moment in the job before Christine Lagarde turns up to be head of the European Central Bank but what it tells us yet again and we've been talking about this for some time is at the world economic the growth is slowing and in some cases really quite rapidly so everyone says the UK how quickly it slates Brexit's or self. It's self imposed but actually ACA said we're doing better than Germany which looks like it's tipping into recession and I mean another issue. Surely got to be that as you say job. He's leaving at the end of October. People are going to not want to make long term commitments because that will tie Lagarde's Hans exactly and Christine Lagarde she she's not like she's stepping up to this job she was former head of the IMF International Monetary Fund so this is kind of a cross move for her and she must be thinking come on with Mario Draghi. Leave me something to do
Brussels, Christine Lagarde And IMF discussed on Bloomberg Markets
"At the European leadership summit in Brussels a familiar name is emerging as the front runner to take over the European central bank there is some momentum seven consensus behind Christine Lagarde has you know as friends of the head of the IMF to lead to the European central bank to replace Mario Draghi when he leaves at the end of October members Maria today
Mario Draghi, Pietra Skolimowski And Overgrowth discussed on Bloomberg Daybreak: Europe
"Now, let's turn to our top stories and central banks are front and center. Mario Draghi addressing his final e before, as president in Sintra today, the themes that have dominated his tenure persist stubbornly, low inflation, concerns, overgrowth, and is Bloomberg's Pietra Skolimowski explains that means investors will be looking for signal. Nls that the central Bank is preparing new stimulus reason decision to keep rates unchanged. Well into the next year failed to satisfy markets inflation expectations dropped to record lows. This stage is already being set for more action Draghi's closest Lieutenant one of his potential contenders. Benefactor said on Monday, the EC will active needed to support the economy and could even be facing such a decision
Germany's Political Establishment Looks Fragile After E.U. Vote
"The German government coalition looking potentially to be fracturing. What does Brussels, make of the new woes morning? I win the very shaky weekend freshman that needs to now that the German socialists are, obviously, in a very tough spot that has repercussions for this grand coalition in Germany, and also for Mirko and her future. And from European perspective, does, is very worrying because she's been at the forefront, have not determined politics, but also European politics for almost fifteen years, and taking take, how does is eight time or at the European Union has many threats has many challenges from trade to its own domestic issues and. Also in the Mets have negotiation to revamp and reshuffle every big European job from the European Commission to the European Central Bank, which is key for investors. Mario Draghi has to leave by the end of Tober. So it's not just a shaky time for your German politics. But also for Europe and has many, many bay repercussions. I think that today, it's unlikely to European Commission what way does because they still treat it as a domestic story, but many would be worried here. And in Brussels. Yeah, this is, of course, off the lead of the social Democrats. Enter Knowle's, who is a junior coalition partner, the social Democrats as she resigned unexpectedly saying that she lost the support of her
Lawmakers want to choose EU Commission head
"Now mainstream. EU. Party's how their ground against populace in last week's elections. Now, the battle shifts to EU leaders, deciding who leads the European Commission lumers Maria today. Oh, reports from Brussels, European leaders will gather here and m principle, the winner of the election Manfred favor, who has a German, Christian Democrat and very closely aligned to angle, the miracles should take the lead to become commission president, but are reporting does show that it is not an easy situation and it's by no means clear that he will become commission, president and at the same time, what is becoming also increase in the obvious as European leaders have not agreed on a name, and they have not agreed on the system by which the next commission president should be elected today's summit in Brussels e you leaders are also deciding who heads up the European Central Bank with president Mario Draghi finishing his term in
ECB's Draghi worried about Fed's independence
"Top story. President Trump has renewed his attack on the Federal Reserve. He tweeted that the stock market could be as much as ten thousand points higher the word for the FOMC derided quantitative tightening. As for the killer comes after ECB president. Mario Draghi said he's concerned about the relationship between the president and the fed speaking of the IMF spring meetings in Washington, you said he's quote, certainly worried about central Bank independence. Let's get out to Eric Robertson. He's the global head of FX global macro strategy at Standard Chartered Bank. Eric every central Bank has a finite amount of credibility capital recently. We saw in Turkey how quickly that can get a VAT berated and how difficult it is to build again. And we store that confidence. How far are we from a scenario like that? How quickly it's credibility getting burned up here. If you're talking specifically about the US, I look I think we're still a long ways away, the fed has an almost religious adherence to its institutional independence. And we've said a number of times that you know, Trump and his administration can can comment or tweet all they want. But I'm not really worried about the Fed's independence, and I don't think we're very worried about some of the potential fed governors that Trump has nominated. I think the fed will be fairly resilient here.
ECB's Draghi worried about Fed's independence
"European Central Bank, president Mario Draghi took the rare step of weighing in on the debate over whether President Donald Trump is undermining the independence of the Federal Reserve speaking to reporters at the International Monetary Fund meetings in Washington today dry. He said he was certainly worried about central Bank independence. Trump has frequently accused Federal Reserve chairman Jerome Powell of not doing enough to stoke the US
Draghi speech: Risk of recession for eurozone remains low
"The is expecting to rely on long term Bank loans as a first defense against the economic slowdown. TV president Mario Draghi says the probability of euro-zone recession remains low, but the Bank will assess if it should tweak negative interest rate policy to mitigate any side effects. The risks around the euro growth outlook remained tilted to the downside on account of the persistence of uncertainties related to geopolitical factors. The threat of protection is and vulnerabilities in emerging
ECB pushes out rate hike, offers cheap cash to banks
"Thirty wall. Street's main indexes fell for a fourth consecutive session yesterday. After Europe central Bank said it would defer interest rate hikes and offered banks new round of cheap loans raising fresh concerns about global economic growth European Central Bank. President Mario Draghi said we are in a period of continued weakness and pervasive uncertainty as the announced cuts to the banks growth and inflation
European Shares Drop as Investors Await for Brexit, Fed, Trade
"We're going get some fedspeak today not only from our fed that, but we'll also get some fedspeak from Mario Draghi who is the ECB European Central Bank. President today his words. We'll be parceled out during the day, and we have five US fed officials speaking at a Vance in New York. That's probably the second. Biggest factor in the market. Number. One earnings earnings earnings number two, the fed the fed the fed three month, the lay for Brexit. Current Brexit discussion suggests Theresa May we'll ask the E for a three month delay to the March twenty nine you see these deadlines it is keep kicking the can down the road do deadlines we'd anything anymore. There is a hard deadline March twenty ninth Brexit deadline. But now it looks like a three month delay because they just can't work out some kind of a divorce agreement as the two sides continued to go out at European Union's. Heels are dug in and Theresa May's high heels are dug
Tencent shares jump 3 percent after Chinese regulators approve new games
"Twenty two down one tenth of one percent. Nasdaq up forty seven up seven tenths of one percent in New York. Charlie pellett. Bloomberg daybreak Asia. Thirty three minutes past the hour. Let's take a look at the Asia Pacific. What to expect today? And what's happening at the moment. Here's Doug krizner. Let's begin with the euro, Brian because we were down quite a bit of New York trading at one point we actually dipped below a buck thirteen that in afternoon trading, which coincided with a report on German or the German government, reducing its twenty nineteen GDP forecast to one percent earlier in the day ECB president Mario Draghi intensified. His warning on the challenges facing the euro area right now, we're dollar thirteen zero six so with euro weakness, the dollar strengthened against the majors. Bloomberg. Spot index picking up about three tenths of one percent on the day slightly. Weaker yen one oh nine fifty three in spite of that pullback, though, we're not seeing a lot of support for futures on the Nikkei trading in Chicago. We're only about twenty points above where we finished in the cash market yesterday in Japan, and in a little while we're going to get the Japanese CPI for the month of December want to get you to Sydney now, we've got Paul Allen. They're looking at the early goings down under and maybe a little taste of what's happening in New Zealand. Good morning, Paul. Yeah. Morning. Doug, gambit of a mixed bag in this part of the world, the dole is continuing its slide. Seventy eighty one the six high by one percent, but I wanna tell you about one of the worst performance today. I am he offers seven percent. This is after the wealth management warned the full year earnings are going to slump another thirty five percent costs piling up there from the financial advice scandal. I am going gonna take another one hundred and sixty million AUSSIE dollar hidden fiscal twenty nineteen on top of an earlier too. Hundred million dollar hit. So those shares easing off today over New Zealand daddy. So looking pretty flat right now dR, all right? Thanks to Bloomberg's Paul Allen here in New York. We had crude oil picking up about one percent. There was a report from the government. The energy information agency actually came out with a rather bearish view on the shale, boom. However looks like the growing instability in Venezuela is carrying the day helped WTI finish above fifty three a barrel right now, we are at fifty three o nine in the electron accession. I'm Doug krizner at Bloomberg. Interactive brokers studio in New York rish. Yeah. Thanks, the two bills aimed at ending. The US government shutdown has failed the two sides in anti gay shading at banks is go global news. And he's in the Bloomberg nine hundred sixty San Francisco newsroom. Yeah. Rish. Thank you. It's back to square one. Well, with the exception that both sides now. No there are two options compromise or leave the agency's shutdown. Bloomberg's Marty Shankar says the two sides now have gone back to the bargaining table. The outlines of some sort of a compromise that would continue that would open up the government for three weeks contain some semblance of border security. And the president says he is open that it will compromise reasonable agreement. I would support again, maybe a pro rated deal on a Wally says, but that a wall has to be part of it earlier in the day Chuck Schumer said he needs to know that the president will sign something that they negotiate last month. The Senate unanimously passed the short term Bill to keep the government open. It was leader McConnell's idea. Everyone thought the president would support it. But President Trump buckled to the most extreme voices in his party. So the talks are still on Japanese whalers say they will form a fleet of at least five vessels to resume commercial whale hunting, July first it says exact locations will be determined by research in June. It says catch quota and hunting scheduled not scheduled and decided North Korea's Kim Jong UN has ordered preparations for a second summit with Donald Trump. He says he will wait with patience and in good faith to work toward a common goal. The issue is what Cam needs from Trump to make any moves toward denuclearisation. The US has ordered non-emergency government employees out of Venezuela and the Trump administration trying to clarify statements made by commerce secretary Wilbur Ross about government workers thirty days of that. Some people will be out. There's no real reason why they shouldn't be able to get a loan. Against. So the president asked about it today, and he efforts what he was he being Ross was trying to say banks are working along. If you have mortgages, the mortgage is the mortgage the folks collecting the interest in all of those things, they work alone. And that's what happens in down like this. They know the people they've been dealing with them for years, and they work along the grocery store and explanation of why they really don't need to rely on food banks global news twenty four hours a day on Aaron a tick tock on Twitter power by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in San Francisco, I'm Ed Baxter. This is Bloomberg Brian. All right. Ed. Thanks very much. Thirty eight minutes here past the hour. It's time for global sports. Dan Schwartzman
Eurozone stimulus program to end as growth worries resurface
"Yesterday, the, of course, ending its historic stimulus program while warning that clouds all gathering over the euro-zone economy. Bloomberg said, Peter Kyoto Skolimowski has the details. The stop expanding its two point six trillion euro bond buying program at the end of this month. Mario Draghi said on Thursday, but the decision came with a note of caution risks for the euro area Konami were moving to the downside and the ECB cut its growth and inflation forecasts for two thousand nineteen policymakers are now hoping that Bahrain by Cigna proceeds from bonds the Dharma cheering they will deliver enough stimulus. The tight over the
The EU Has Problems
"Let's look at Germany now because this new day's coming out this morning. So yes, ten o'clock German time, which is a little bit over an hour. We will have data from that. Which is a business lobby group. In Germany is measuring confidence among German businesses are predicting however, the Delpierre straight month of declines in that particular measure, which destroys the tension of the economy. A lot of the world that we saw in the US and other places to quite strong. But you're is still a bit of adult to be. Boys. This important trade is a really. Watching this number closely. The German economy is the biggest economy new. You as a lot of problems at the moment is of Asli. Brexit, and the other issue is telling government is a loggerheads with the budget two government in its really wants to increase its budget deficit deficit and the European Union is really not pleased with this whole concept. This is also coming today as the European central president. Mario Draghi is going to be fun. Members of the European parliament the next ECB decision is on thirteen December. So trade is really going to be watching. Mario Draghi's testimony today for any hint. Hint to wet all of these tensions in the might. Dissolve the resolved in. Having back economic stimulus fun. Look at something which is really very controversial. Because this is not a currency unit. That's recognized everywhere. Haya has become the first state to allow businesses to pay tuxes with bitcoin. Toting to report in the Wall Street Journal this week. Hieaux will allow businesses individuals as businesses to pay any taxes out to the state in bitcoin. My suspicion is this is a bed of a publicity stunt for my height to make it look like it's annoys text forward location than. Anonymous mid midwest site. Yes, really fascinated. As you said not individuals. They they register online, and then they pay whatever they want in. It seems extrordinary. Yeah. Businesses that have honing in in bitcoin in order to pay taxes. They want quite safe far because the price of bitcoin is down by motor Hoffman from this time last year. I guess the important thing is that the state of will. Journal not converting this. Will not be keeping these sites in bitcoin. It will immediately be converted into get out US dollars, keeping those type on that what you will about its face in in bitcoin is a whole and you thank you very much. Indeed.
"mario draghi" Discussed on The Economist Radio
"The european central bank plays an incredibly important part in the economy of the euro zone the boss of the moment is mario draghi and his eighth year term is president comes to an end next october to find out a bit more about the potential replacements and what they could bring to the role i'm joined by racha schanberg a european economics correspondent brush no white is it matter who's the boss of these ebay well and all you need to do is go back to two thousand twelve when the european sovereign debt crisis was at its worst and mario draghi with one speech significantly calmed market nerves he said that the do whatever it took to preserve the euro and i think those really will the evidence you need that one person in charge of the central bank can make a big difference the next president of the if you sort of look ahead will be in charge of gradually withdrawing the stimulus that has been introduced over the past five or six years and that's a really very big task and we have any idea who's lining themselves up and looking for this job well with about fifteen months to go into maria draghi ends his term is still very early days but nevertheless some names are starting to be talked about one of them is yen's vitamin who is currently the head of the german central bank abundance bank there's a perception that it might be germany's turned because although it's the largest economy in the euro area the most populous country hasn't so far had head of the now he clearly technically very qualified but there might be some objections from other sort of more southern states in the in the euro area because he's very hardline views on ecb policy but he's also very divisive candidate particularly amongst the southern european states because he's very often been in the dissenting minority when it's come to votes on monetary stimulus so it's not clear really whether he would actually get the go ahead or not the decision would need to be made in sort of horsetrading between the nine hundred member states of the euro so it might well come down to how much angular mirko really wants to push him as a candidate that would be a big change departure winded for the to be taking such a hard line role in backing so much germany's vision of the euro as something that needs the whole of the eurozone to become german effectively absolutely it would be a very big change and it could start to make financial market participants a little bit nervous especially given political situation in italy so i'm not entirely sure if he's the most likely candidate at this point it might be instead that somebody else from some of the the northern economies the smaller northern countries in the eurozone might get it instead so people who are also talking about the governor of the finnish central bank arche lebron as well as the head of the dutch national bank classic not i presume these are people who would take a similar sort of signed money low debt sort at your economy yourself not massive transfers between in the various european countries but perhaps less divisive i think that's right certainly archea can has been viewed as helping sort of reach consensus and build a consensus and certainly isn't regarded as being controversial characters jens vitamin so is this one of these european roles that get decided largely on nationality and largely behind closed doors and in the end they don't necessarily end up with someone terribly good while there's a lot of considerations that go into it you write it comes down to nationality we also have the european parliamentary elections next year so there's a chance that the the next head of the will be decided alongside sort of the host trading around who's going to be the president of the european commission although the head of the european council if we look back to mr draghi's appointment nearly eight years ago the.
"mario draghi" Discussed on WLS-AM 890
"And his successes to do the same same thing as i say central bankers can't get in the business of competing with with politicians but they need to speak the language of the public and to communicate to the public because occasionally central bankers do things that matter and you know that behave completely elvis in two thousand and eight nine our guest is paul tucker who is joining us from europe paul is a fellow at the harvard kennedy school chair of the systematic of the systemic i beg your pardon risk council and for many years central banker regulator at the bank of england and the bank of international settlements mario draghi has certainly had some screen time in the us i'm sure more in in europe mario has made a lot of headlines none as big as during the crisis when he said we'll do whatever it takes but he seems to have tried to get out there and make some connection that's right he's got a harder job than any of the other major central bankers anywhere in the world because the euro area has a currency and a central bank but it doesn't have a fiscal authority so when the euro area was on the brink of literally falling apart the only person that could keep it holding together was marianne drug in the european central bank this must have been kind of excruciatingly painful moment but he just stepped up and and that european part of the european project the awkwardness is that he could put elastoplast on that he could buy time but he can't repair the foundations so so in a sense in in continental europe you've got to a different aspect of this problem that concerns me and i wrote about in my book on electric power which is have we have mario draghi he can solve a crisis but he called repair the underlying problem and behind this on both sides of the atlantic i think what should worry us is that the people we elect him to congress and parliament have got used to stepping back and letting these people in central bank regulators the accident and that can work in the showroom but it's not gonna work in the long run paul tucker our guest is new book unelected power one of the things that seemed unfair to me paul and i'd like your input after the crisis it seemed in the united states that really the federal reserve was designated hitter they were carrying the ball and for many many years postcrisis they had very little help from fiscal policy in the us i think it would have been better if say in two thousand eleven twelve the head being action by congress to promote infrastructure expenditure across the states i think that would have helped the dynamism and productive capacity of the american economy and it needn't have being financed by borrowing more it could even have been financed through high taxation it will probably still have provided stimulus to the economy too much of the button whilst only the fed could could act quickly enough into in the spring of two thousand nine by two thousand eleven two thousand twelve congress could've taken more of the burden and actually the recovery would probably have been healthier with less frost and financial law pits and kinda fairer in terms of the effect on the distribution of wealth and incomes across the state and as you know with the divided government we had at that time that was not going to happen to votes were not there it absolutely wasn't gonna happen so instead everything rested on the federal reserve and you're right i think say that the federal reserve ended up reinventing itself repeatedly is the us cavalry that's not a popular thing our guest paul tucker has new new book unelected power the quest for legitimacy in central banking in the regulatory state and we are going to return and take your calls for paul talker on our toll free line our toll free line good across america.
Prime Minister, China and Japan discussed on Bloomberg Daybreak
"From the opening of us trading let's get you up to date on the news you need to know at this hour stocks are rising around the world as we kick off a new trading week investors are setting aside concern about escalating tensions to focus instead on earning season later this week the shanghai composite index jumped two and a half percent the most since may of two thousand sixteen following seven straight weekly declines in the uk prime minister theresa may's government was thrown into crisis after brexit secretary david davis resigned in protest over her plans for a soft exit from the eu bloomberg's thomas penny reports from london until now most of my struggles lawmakers in a conservative party a post brexit and now she will have to fight hard to win the support those back to vote was from the block they have a long history of rebellion and we'll be reluctant to back down and may even known to challenge to may's leadership by the time donald trump arrives on thursday she could be funding for her job in london thomas penny bloomberg daybreak thanks thomas and the uk has announced this morning that it will replace davis with dominic robb as its new brexit secretary european central bank president mario draghi addresses the european parliament today and may shed light on the timing of a rate increase next year we hear from him at nine am wall street time in asia today shares xiaomi fell more than one percent in their hong kong debut an escalating trade war and uncertainty about about its valuation combined to dampen the chinese smartphone makers ipo nissan shares fell more than four percent the japanese automaker says it found quote misconduct and exhaust emissions and fuel economy measurement tests at its japan plants and china's car sales declined in june as the trade dispute with the us intensified retail sales of cars suv's and multipurpose vehicles fell three point seven percent last month it is now six thirty two on wall street that's time for your volatility index report and the vix fell on friday to close at thirteen thirty seven separately in today's extended morning trading vix is currently lower by.
One Hundred Billion Dollars, Fifty Billion Dollar and Eight Percent discussed on Bloomberg Daybreak
"A risks from trade tensions but that won't shake its decision to end asset purchases later this year as according to ecb executive board member corps spoke exclusively to bloomberg from france or we're not complacent on the possible risks fullfledged trade war would be bad for the world economy starting with the us away so the first victim would the us jobs us workers and we very much doesn't happen ecb executive board member corps tells us a further escalation of tariffs could do serious damage to business confidence we also hear from president mario draghi today he makes your march at nine am wall street time chairs xiaomi debuted in hong kong today against the backdrop of those global trade tensions the chinese smartphone maker saw its stock fall more than one percent in its first day of trading bloomberg's stephen engle has more from hong kong shares fell right out of the gates here on its ipo in the hong kong stock exchange lot of uncertainty about this company and its lofty valuation also the true nature of its business is it more of a low margin handset manufacturer or is it like the chairman late june says a broader internet services company on the one hand xiaomi is now a fifty billion dollar company the third largest in the world for handset manufacturers but it's a far cry of an earlier estimate last year of a valuation upwards of one hundred billion dollars stephen engle bloomberg news uncle stephen thank you as for other assets in asia today stocks currencies commodities some bonds all posted solid gains bloomberg's juliette sally reports from our singapore bureau china's currency rose against the dollah one week after the country's officials emphasized they wouldn't be using you want as a trade policy weapon the csi three hundred of large cap stocks in china closed high by two point eight percent to three thousand four hundred and fifty nine points a solid session for japanese stokes engineering and construction firms rallying after the floods damn but nissan took a hitch on reports it falsified inspection data on exhaust ratings the start closing down at four and a half percent in tokyo two thousand and three yen in singapore and juliette solly bloomberg daybreak chillier thank you and we're now getting more details from nissan and press conference this morning the company said it found misconduct in exhaust emissions and fuel economy measurement tests said it's to penn plants nissan reported the results to japan's transport ministry today and says a full investigation is underway futures this morning are moving higher with us in p futures up nine points dow futures up ninety eight nasdaq futures up twenty six and straight ahead we have the latest world and national news this is bloomberg and karen that brings us to five oh seven on wall screech decisions decisions at the supreme court let's bring in bloomberg's michael barr with the latest good morning michael good morning bob he was the first runner up a year ago now judge thomas hardiman seems to be a strong contender to be president trump's second pick for the supreme court that's according to three people familiar with the process other finalists are said to be appeals court judges brad kavanagh amy coney barrett and raymond catholic trump said yesterday as he was boarding air force one daddy would finalize his decision by noon today i'm getting very close decision i believe this person will do a great job trump will make his official announcement at nine pm wall street time tired authorities said.
"mario draghi" Discussed on Bloomberg Radio New York
"The potential defeats for prime minister may in the commons in the commons on one of a key pieces of legislation if labour they say backs this amendment to the trade bill that was of course tabled by addisu brie the conservative lawmaker goals for person to stay in the customs union it stands a child's appalling jeremy corbyn as you say spoke yesterday and he wants to stay in a type of customs union and how did the business lobby here in the uk reacts they embraced it so may is she expected to a quarter ahead of friday's make speeches and she she apps cities that his opponent that fine late that's why she has been since the disaster selection that she called about meanwhile yesterday ecb president mario draghi addressed the european parliament lawmakers he largely skirted the lat fear crisis affecting the ecb and stuck days plans to keep out exhibit astrology said he's not yet ready to pass back support for the us area despise increasing confidence that inflation will pick up we anticipate that headline inflation will resume its gradual upward adjustment supported by our monetary policy measures at the same time uncertainties continued to prove in particular the recent volatility in financial markets notably also in the exchange rate deserves close monitoring with regard to it's possible implications for the mediumterm outlook for price stability used to be president mario draghi their auto suicides get of the latest enclave of these headlines his nautica of kunle good morning caroline south africa's new president has made sweeping changes to his cabinet rain not manana back as finance minister the reshuffle marks a dramatic comeback vanana who was dismissed by former president jacob zuma in december 2015 david mabuza the deputy leader of the african national congress will become deputy president and lucy garba has left the finance pays for his former job as home affairs minister saudi arabia has replaced several top military commanders including the chief of staff of the heads of ground and air forces bean bags imia editor andrew baden says crown prince mohammad bin salman is believed to be behind the shakeup another overhaul of the.
"mario draghi" Discussed on Bloomberg Radio New York
"The why this is significant is that he was one of the two members to vote against an increase back in november so this does signal a little bit of a change of heart for him and probably further fuel speculation that will see another increase in may as the market is expecting we also heard from bedwell cure that the ecb can afford to slow bond purchases but he just says that they can do that as long as a central bank gives clear guidance on the path of interest rates so some some august calmas and mario draghi speaks lawmakers later today so lots to watch in this central bank world but he is certainly especially because these epa of course that team with a very radical plan to shower too a b l v latvia's third largest bank the we watching so closely last week what do we know yeah there's a lot to digest here so the ecb did ordered the closure of a b l l v saying that the bank was failing or a likely to fail and basically lacking adequate cash liquidity it also prohibited ab i'll be from accepting new deposits or from increasing existing deposits baseley wanting to safeguard against fresh money going into the bank before any proceedings on insolvency go forward that gives remember that why this is in so which focused such deals ab lv is that latvian lender that's been at the center of a scandal in the region the us has accused of money laundering and proposed that the the baby banned from doing dollar business so this move by the ecb to step in is being branded as a radical step to to stem that turmoil the bigger picture now is really that this whole scandal turns the spotlight to that you see these role as the cheap supervisor for for lenders in the euro zone basic about ruled 2014 so basically now that vouchers may come under question a little bit loves a swift to move by the ecb also you've got a nice chilling of the day that it wants.
"mario draghi" Discussed on Bloomberg Radio New York
"Flash from the bloomberg bureau in berlin i matt miller this is the bloomberg radio business flash we are seeing a equity indexes there are bouncing around between gains and losses today we do see the footsie currently up about onetenth of 1 percent the dax currently down about one tenth of one percent in the cac gaining almost four tenths of one percent the euro which has also been balancing radic between gains and losses against the us dollar is still going strong 124 to as we expect mario draghi as we await mario draghi i should say in just a few more hours 145 european times had or european time he's going to come out and speak in old are at two thirty hill speaking and get questions after after the statement at one forty five the pound right now one 42 72 so the cable rig really building backup to almost it's pre brexit levels leased against the dollar it looks a little bit weaker if you look at the pound index on the bloomberg and the yen right now under one ten so 109 '09 is the amount of yen you can buy for the dollar as the greenback showed some weakness earlier is indeed still pretty weak against most of its major trading partners due to comments from steve mnuchin we do see the us 10year yield at two point six three nine two watch for that to maybe move around if you get a reweighting print some big fund managers away from equities they've gained almost seven percent this year whereas treasures have lost almost two percent so you could see that reweighting and i wanna quickly just take a look at oil brent crude trading at seventy dollars and seventy eight cents a barrel the global benchmark up about a third of one percent this is has been a bloomberg radio business flash now let's get back to markets carlsson for more on what's going on around the world marcus thanks very much marked a leading human rights lawyer has quit the race to become egypt's next president saying his supporters had been intimidated and that the electoral process is corrupt howlett ali is the latest highprofile figure to pull out from the march elections cementing the.
"mario draghi" Discussed on Bloomberg Radio New York
"The to be uh what's the ultimate impact is the polls on currencies bond yields and the differentials between europe and the us what we see more more rate hikes in the us fast they wanted to expect in two thousand eighteen lackey could argue in favour off his client always class strengthening off the dollar in two thousand eighteen um but at the same time i think uh you know wh when it's the eurozone continues to surprise positively at least on terms of economic growth poverty lee will see more it's like a like a stem still when we look to you to your dollar um rates over the next couple of months what would you like to hear from mario draghi this morning well i've probably again we'll see some some solar clapping or with the ecb normally does um i i would like to hear a rather positive optimistic view um and and i would uh i would love to hear from him that he will not be interrupted or disturbed bar by diverting voices coming from germany or other for hawkish um central bank governors things what what is really essential a crucial for the ecb is really to give guidance to be very clear and not to change its narrative every couple of months uh deal witless move over to work marquardt in custody do you expect unanimity from the bank of england governors i think right now i we um because i think we'll see what you do see the uh the higher inflation is mainly the result of a weaker pound sterling um and uh and i and i would i would really see that the bank of england greely is extremely cautious because the uh the the full impact of trump on brexit has not reached the uk economy yet so i think they they will be extremely cautious not to look too high but more because their first want to see what the what the total economic impact will be from brexit on the uk economy uh how difficult the situation facing this is made right now how's that going to impact the uk economy going about twenty seconds south korea extreme me because i think be there there are lots of trouble in the uk politics right now and uncertainty nominee also caused economic growth carson thanks a lot we appreciated carson prozesky chief economist with i angie as we look at the.
"mario draghi" Discussed on Monocle 24: The Briefing
"Talking about the latest book fascinating stuff found another thank you as always for guiding us through some newspaper front pages firm news to business let's talk business news investors well keenly focused on the european central bank today you inputs joins us from bloomberg you know what tell us about today's announcement why why is it significant so as market sucked keenly looking forward to this announcement from the european central bank is poor the most important elements since the one in early 2015 when mario draghi announced the start of quantitative easing blowing up of a government bonds and then corporate bonds and efforts to make sure that interest rates stay low now let's expected to happen later on size the governing council looks set to cuts the kiwi program monthly us it purchases from their level of 60 billion euros probably was going to stretch them out suffers lowest capacity as allows now as usual economists aren't quite show exactly what's gonna happen but the ones we've spoken say they record on average the should be a ninemonth extension to the program probably about 30 billion euros a month so that's osthoff eleven it is a moments although some think of it more or less than that so economists not expecting any change to the rockbottom interest rates around europe at the moments they thought that's going to carry on beyond the end of the assets purchase program now you and we sometimes laugh about some of the new stories we discuss driving either you or me or both of us to drink i gather shares in the world's largest brewer trading low today.
"mario draghi" Discussed on KKOB 770 AM
"On the princeton campus just last week on money talk marcus burnham are we were talking we were talking about the job mario has done by the way i asked marcus to say hi to you did he do he did hit it uh that's great feedback a feedback i i w i almost forgot to ask that was nice of him he was agreed was a gray terrific guests by the way and we were talking about mario draghi and uh we were talking about the job he's done an and marcus was positive on the job he's done the issue of co gordon nation often comes up coordination between what chair janet might be doing and what super mario might be doing and what japan month the bank of japan might be doing is there such a thing is coordination at a time like this or is everybody going down the wrong road well i hope they're going down the right groove it ever have road up the bank of japan is way behind the other two and still needs to try to push inflation up uh as much as if cabinets trying and trying and trying with not the greatest success but it keeps try the ecb something in between the bank japan and the fed the fed is where you just one thing if heightening on normalizing although it also would like uh the american interests uh the sorry the american a place are great to be higher dc meeting between those things are not as good in europe they are uh in the us but they're better than they are in japan so you're gonna find the he'd be in between following the fed but with a considerable lag up to your question about coordination in row in time pond fitter anywhere close to normal on i would consider this such a time as opposed to an acute crisis there isn't going to be coordination the ecb has instructions from the treaty of maastricht the federal reserve has instructions from the federal reserve act neither of those tell them to pay attention to what's going on another jurisdictions and they don't want to say they'll pay attention it they don't put punches for that reason the amid pay attention because after all we owe live in a unified financial world so they pay attention but they don't change the.
"mario draghi" Discussed on Bloomberg Radio New York
"In london i'm caroline heck here with this bloomberg radio business flash dominating the markets all einsatz aziz of and the exact impact of hype about how much damage will do to florida in the united states of america and also concerns around north korea the bloomberg told us spoil index is down half of one percent at this morning we also digesting the vis a meeting yesterday mario draghi in his opening speech mention at this time the but of course he didn't say anything about any action on that strength add the years but price has continued to gain since that meeting in frankfurt yesterday's up half of one percent this morning once spoke twenty eighty four in the asian markets this morning actually we see some gains axes emme cia specific of by four tenths of one percent hang sangal said gains half of 1 percent the nikkei though is off by seven tenths of one percent the s s p sx 200 in a state it will sit down fourtenths of 1 percent this of course as we see the japanese yen spot price gain it's another one of those safe havens one a seven spot seventy was up by sevententh the bump percent at gold is also doing well under these circumstances gaining half of lumps at one thousand three hundred fifty six baht 74 and of course you cannot ignore the bond market's at the moment of us 10year two point zero two five percent so it down by one point five basis points this morning we are heading towards that two percent at full tpp yields that is a bloomberg business flash now here's sought to kill off with what's going on around the world vacancies good morning caroline a major review has concluded that ethnic minorities have a far higher chance of being given a prison sentence in england and wales the report found discrimination still exists in parts of the british criminal justice system and it's put for thirty 35 recommendations to tackle the problem it suggests offenders she'd been to defend prosecution for low level crimes and receive rehabilitation in stand spain's prime minister's warning that catalonia's disputed referendum on independence will ruin forty years of peace my on and hoyas asked the constitutional court in madrid invalidate the catalan referendum know in a.
"mario draghi" Discussed on Bloomberg Radio New York
"Had been discussed by mike predescessor where in the one you mentioned above the bank sweden norway at that time you've been listening to mario draghi holding a news conference following the ecb decision on interest rates no change in interest rates and no change in their q e by still 60 billion euros a month however draghi did suggest the ecb is moving towards an end of the q e program saying it was discussed but only in the most broad general sense that they did not get into specifics they did not get into timing and he says the bulk of the decisions in that area will be made at the october meeting he said that they are going to be able to continue buying for now without concern about the capital key which is a worry for the ecb in europe how many bones i can buy from each country this you have enough flexibility and he said the euro is something of a concern it has to be monitored because the strength of the euro could be a problem in the long run and as part of the euro's strength they noted the cb today cut their inflation forecast for two thousand eighteen from one point five percent to one point two percent and on the back of all this the euro continues to strengthen now at one twenty twenty nine up over the one twenty level so a lot of news for mario draghi and some market reaction now let's check in with michael barr and get the latest world and national headlines on your very much be florida highway patrol says troopers are monitoring the high volume of traffic heading north on florida's turnpike as people evacuated south florida ediborah recused erma the highway patrol said extra troopers rhode rangers at rutgers will be on the roadways.
"mario draghi" Discussed on KKOB 770 AM
"The ozone would lie with the euro zone for other re so that would imply that the bank of england did a better job in terms of managing their monetary responsibilities after that recession than than maryoto draghi did in european central bank would you agree with it i think i would probably agree with that but can't keep in mind that too uh mario draghi had constraint but the bank of england or the head did not have is operating a central bank which it in a monetary union made up of a large number of sovereign state and he has a lot of different constituencies to keep happy and most importantly the german who are all very low reluctant to at central banks intervene whereas in the uk and in the us there was at least some recognition that central banks had to react to aggressively and quickly well the political differences are are quite important which really raises the question and we've ridge that on the broadcast over the years as to whether it's possible for someone like mario draghi to do a better job than he's doing doing given the constraints under which he operates laughter after probably not much better i think what he's done handled in particular the nordic countries complained about the federal back intervening in the money market because no matter trinity but at least in principle from quite constraints on what the federal bank can and cannot do and in particular are supposed to help bail out countries however you wanted to find it by mario draghi found from very clever ways in which to provide liquidity and helped soften the blow when foreign debt crisis hit the and others were not very happy but they did recognize finally that as the uh you hey hana me and the us economy recovering whereas the eurozone economy with go back and aiding and that uh in in the end after her given and tighter hey hey and so now we see the benefits of that happening but these are important and in order as many ahead andy marte hair unit and there's no arguments firm euro zone wide go from refreshing rhonda the banking union of course habito worsen the crisis it's likely that these reforms won't take place so all these things are problematic for the her draghi and for.
"mario draghi" Discussed on KHNR 690AM
"The the quake quake factor most other country wpro and download of the euro zone for other reason that would imply that the bank of england did a better job in terms of managing their monetary responsibilities after that recession than than mario draghi did in european central bank would you agree with that i think i would probably agree with that but keep in mind that mario draghi had constrain but the bank of england or the head did not he's he's upgrading central bank with thorough in a monetary union made up of large number of sovereign date and he has a lot of different quicken happy and most importantly the german who are always very low reluctant to central bank interdean whereas in the uk and in the us there were the thumb recognition that central bank had to react aggressively and well the political there are quite important or surely raise the question and we've raised that on the broadcast over the years as to whether it's possible for someone like mario draghi to do a better job than he's doing doing given the constraints under which he operates probably not much better i think what he's done he handled in particular nordic country complained about the hanwa bank intervening in the money market because decree put in principle from quite an drained on what to handle bank can and cannot do and in particular the vote help bailout hungry however you wanted to find it but mario draghi found from very clever ways in which to provide liquidity and help soften the blow when foreign debt cry hit others were not very happy but it recognize finally that as the economy and the us economy recovering whereas the eurozone economy would go back meeting and that in the end they given given and tighter hey hey and so now we see the benefit for that happening but these are important can train and in order mania that monetary union no ogden crime bureau zone wide thumb and grown the banking union accord habito work with the crisis tony porn won't take place so all these things are problematic with a kurd draghi end up for the euro one more generally anita problem we are not comparable in uk or in the us now having seen the success of the fdic in the usa for such a long period of time there must be some good reason why they don't have depositinsurance in.
"mario draghi" Discussed on Talk Radio 101
"The uk probably were neck and old the ozone with of eurozone or other reason so that would imply that the bank of england did a better job in terms of managing their monetary responsibilities after that recession than uh than mario draghi did in european central bank would you agree with that i think i would probably agree with that but keep in mind that too uh mario draghi had constraint but the bank of england or the head did not have you got braiding central bank which is in a monetary union made up of a large number of bargain date and he has a lot of different contituency you happy and most importantly the german who are always very low reluctant at central bank intervened uh whereas in the uk and in the us there were at least some recognition that central banks have to react aggressively and what well the political differences are are quite important will surely raise the question them we've raised it on the broadcast over the years as to whether it's possible for someone like mario draghi to do a better job than he's doing doing given the constraints under which he operates uh probably not much better i think what he's done he handled in particular in the nordic countries complain about the central bank intervening in the money market because mattress treaty foot i'm quite constraint on what the federal bank can and cannot do and in particular about both help uh bailout country however you wanted to find it but mario draghi hound from very clever ways in which to provide liquidity and help from the blow when foreign debt crisis hit the drawing the german than others were not very happy it recognized finally that as the uh you hey harmony and the us economy recovering whereas the eurozone economy with bag meeting and uh in the end at could get in and tighter hey hey and so now we see the benefits of that happening but these are important can try and linnea the mont hair unit no in enshrined euro zone wide from restriction drawn the banking union of course out of work with the crisis likely that these reforms won't take place so all the thing are problematic with a curt draghi and for the.
"mario draghi" Discussed on Bloomberg Radio New York
"Business flash the euro holding on to gains after hitting in all this twoyear high in yesterday's session of is the president mario draghi failed to push back against the currency strength despite delivering an overly dovish message overall actually in his press conference we sold era gained 1 percent go above the 116 handle where 116 44 right now part of that your strength against the dollar also of course was down two donna weakness we sold the dollar hit an eleven month low following news about president trump and we are attaching on the dollar index in today's session looking at dollaryen way down one tenth of sent one eleven spots seventy five sterling snapping four days of losses trading round the won twenty nine handle in a lot of focus on the aussie dollar as well dropping the most in five months after comments from the rda deputy governor down sixtenths of central miozzi donna seventy nine eleven eight at the bond markets this is where we really saw mario draghi dovish message play out yesterday but those peripheral spreads tightening right down this thing germany spread hitting its lowest since 2015 what pretty on changing the bond market's right now the 10year bund yield steady at about fifty three basis points steady on the tenuous spanish shield as well and the 10year treasury yields at two point two six percent not going anywhere too fast either looking ahead to your pena equity market opening just over fourteen minutes when seoul european stops drop yesterday some weakness in the age in session near starts fifty features off by one tenthpercent footsie100 futures pretty much flat cac 40 features a touch we cut dax futures flat and just quickly looking at the commodity markets wti crude steady 46 for eighty nine dollars a barrel break crude holding above forty nine that's a bloomberg business flash he santer kill half with more on what's going on around the world thank you name as saudi arabia's king solomon has a hold the country's security agencies stripping the interior ministry of key powell as a homeland security agency has now been created that will be linked to the office of the prime minister a titled the king we also holds the move comes a month after his son became crown prince as part of a major palace shakeup tens of thousands of pulse have taken to the.
"mario draghi" Discussed on KBNP AM 1410
"Have new gdp figures so the message tumors things are looking much better in the eurozone but it's still far from being goods and so let's wait slits be patients let's be persistent denominator opposes tense that's why expect from him actually the message on the press conference and your up to having problems in terms of finding inflation young expected europe too we have it states imagine k raina us executives so europe is actually not as far ahead in the economic cycle as the us of the uk so she get the eurozone right now you have stronger gross you have an informant at a record low over a low but the big missing is affliction wages are not going up which is another rating qualification is still around one percent headline inflation is extra the trending down and that's what they want to seize extra a poor trends they want to see the opposite than a senior idiot everybody's looking for dave wilson anything out of that van mario draghi tamar that might impact in terms of the us trade well to the extent do people are looking to europe and kind of trying to figure out if indeed you're you're in a situation where economies are expanding world why do you have to be concerned about the central bank's potential upset the applecart as far as that goes you know that said i mean just looking at stock performance things have been just fine over there you're looking at the near the stocks index it really looks broadly at the region is up about seven percent this you're not quite keeping pace with the sp 500 but nonetheless doing relatively well let me are maxime have officials of in europe kind of given up on kind of our traditional economic relationship where we should be seeing inflation day thinking things have changed in other words it's different this time around immediately warmth inflation pick up like we haven't passed you look at what we call the phillips curve which is the relationship between unemployment's and the price of becoming at the should should in the us that should in the uk the should new eurozone so the relationship is extraju story coalition of doesn't work anymore to explain currency flation and that's a big problem because it was the tool for the central bankers widzew forecast inflation sonoda have to come up with something new and that's the point extra moi most what bunk is the death.
"mario draghi" Discussed on Bloomberg Radio New York
"Fifty announce the euro had dollar twelve fifty the yen one eleven point six three now the euro is treading higher following comments from mario draghi who just wrapped up his keynote speech at the ecb forum in portugal hit with the latest from the european central bank president is bloomberg daybreak europe anchor guy johnson joining us live from our london bureau good morning guy a good morning bob good morning karen in some ways what we just heard from mario draghi little difference from the last press conference he delivered but he walls upbeat about the prospects for the eurozone economy and this tone has been coming through over the last couple of months he does feel good about the direction of travel right now as you say the euro rose or what he had to say he did the points out very clearly the while the economy is improving the monetary policy needs through remains symmetry and will lead to do newly duty so for quite some time but he does feel as we'll hear now that policy is working we can be confident that our policies working and its four effects on inflation will gradually materialize but for that our policy needs to be persistent and we need to be prudent in how we adjust its parameters to improve the economy on the conditions the situation is improving deflation has been defeated but monetary policy is going to remain stimulatory for really quite some time and needs to do so so in some ways something for everyone the hawks and the doves but for now the euro is rallying the sense seems to be just a the margin that this was a fairly positive speech that was delivered by mario draghi down in portugal guy johnson bloomberg daybreak eric i thank you in less than thirty minutes from now the bank of england to releases its financial stability report governor mark harney will hold a news conference following that report and we'll bring you his remarks alive on both of us bloomberg radio and television around six am a wall street time cool executives will wake up.
"mario draghi" Discussed on Bloomberg Radio New York
"News room the euro area still needs exceptional support from the european central bank's monetary policy to absorb slack and restore stable inflation even as its economy celebrates according to ecbi president mario draghi remained firmly convinced that an extraordinary amount monetary policy support including through for guidance is still necessary for the present level of underutilised resources to be reabsorbed he spoke at a hearing of the european parliament's economic and monetary affairs committee in brussels mark mobius executive chairman of templeton emerging markets group says a shift to higher interest rates could spell trouble for some companies are many indebted companies who have been paying very little interest on the debt and debates go up there could be in trouble so expect bankruptcies along the way financial markets were closed to the us uk and china today the dax in germany was up twotenths percent the cac in paris down a tenth japan's nikkei closed little changed and the hang seng gained a quarter percent swiss watch exports resumed a losing streak in april we get that story from bloomberg's charlie pellett they were hurt by weakness in key markets of hong kong and the us weighed down by fewer working days the federation of the swiss watch industry said exports slipped five point seven percent to one point five seven billion dollars analysts said shipments gained one of just for three fewer working days in april of twenty seven team china continued to show growth with a thirty nine percent increase while the uk recorded the thirty percent advance the fastest pace in september charlie pellett bloomberg radio.