28 Burst results for "Ursula Von Der Leyen"
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"As comments from Sadiq Khan speaking to Bloomberg in New York former conservative business secretary Alex Sharma has said the change won't help economically or electorally meanwhile the of head the European Commission says that the EU needs to investigate massive subsidies that China gives its electric vehicle industry Ursula von der Leyen told Bloomberg the block won't accept unfair we competition want a level playing field for our companies and what we see is massive Subsidies in the EV sector in China, which is of course unleveling our playing field and we do not accept this in the internal market for our companies, so we do also not accept it for Chinese companies Ursula von der Leyen's European Commission announcement of anti the -subsidy investigation last week which could lead to tariffs on made China EV imports Beijing has called the move a naked act of protectionism and could restrict access to European exporters in response. China is the biggest market for a number of German car makers which sold 4 .6 million cars there last year. The Confederation of British industry has postponed its annual general meeting over concerns about cash flow. Bloomberg's Ewan Potts reports. The CBI has long been Britain's biggest business lobby group. Now Sky News reports it's thought to be wants to be as little as four weeks away from running out of money. Up until early this morning the CBI's website listed its AGM due to kick off today at 10 a .m. but the business group told members yesterday its big annual annual meeting is being postponed due to cash flow issues. Its money problems come after dozens of the UK's biggest company suspended engagement with the CBI in the wake of a series of allegations of serious sexual misconduct to the group. In London I'm Ewan Potts, Bloomberg Radio. The Federal Reserve is expected to pause rate hikes today for the second time this year while leaving the door open the Fed's two percent target and the US economy resilient officials may pencil in more hikes in their quarterly projections. Bridgewater Associates co -chief investment officer Karen Tambour says that the Fed may be slower to cut rates than many expect. The bar is high to either raise or lower rates from where we are today. When you look at what it takes to get fast rate declines usually you need the economy collapsing pretty quickly. There's a sense of urgency, right? The economy's collapsing, sense of rates as fast as you can. That's very far from where we are today. We don't have a collapsing economy creating that and inflation is still uncomfortably high. It's not as high as it was. It has been coming down. But the impetus for I've got to lower rates quickly is certainly not there. you could hear the full conversation with Karen Tambour which was recorded at the end of August on the latest episode of Bloomberg Wealth with David Rubenstein. We'll bring you the Fed rate decision live here on Bloomberg at 7pm London time followed by Jerome Powell's press conference 30 minutes later. President Joe Biden is calling on world leaders to stand with Ukraine in its war against Russia. He made the appeal at the UN General Assembly in New York If you call Ukraine to be carved up, is the independence of any nation secure? I'd respectfully suggest the answer is no. We have to stand up to this negative aggression today and deter other would -be oppressors tomorrow. Biden's remarks attracted applause from UN delegates, including his Ukrainian counterpart Volodymyr Zelensky, who was in the audience. Concerns have been growing over the cost of backing Ukraine's fight with Kiev's forces struggling to make major battlefield gains. Bloomberg understands that one G7 official sees the war lasting as long as seven years and says allies need to plan financially to continue support for Ukraine. Now finally, consumers accidentally caught a glimpse of Microsoft's future video game plans, ...after the tech giant mistakenly provided confidential information to a federal court website. The details were part of the FTC's antitrust lawsuit against its of Activision Blizzard, which included unannounced games and a refreshed Xbox console. The information has since been removed. Those are your top stories on the program, on the markets, Euro stocks 50 futures are three -tenths of 1 % higher, FTSE 100 futures are three tenths lower, the MSCI specific index is down by seven tenths of 1 %. Now this caught our eye as we're thinking about interest rates going up in the UK, the golden age of the buy to let in Britain is over. This is Bloomberg opinions, Marin Somerset Webb, she's been writing about why buy to let and that market which has sort of been dominated by the amateur effectively, individuals who have maybe only one property or small number of properties, but all of the the incentives that had been there have been rolled back and there are a few extras coming including rising regulatory costs, the new net zero rules, rent control is even a new risk which I think people in England don't think about that much. Yeah because the Scottish rules do place a limit on how much rents can go up year by year but that has meant that landlords are now trying to see if they can push rents up between tenancies either by if you know try to get tenants out, as a result buy to let persons in Scotland earn a record board low and rents are up by 43 % there since the beginning of the pandemic this is going to be a huge political issue as well which brings us neatly to the broader figures on inflation that we've just had out. We saw of course a lower than expected reading for the headline rate in August, 6 .7 % was the headline rate of inflation so it ticked down slightly from the reading for July. Our UK correspondent Lizzie Burden is here with us for more. Lizzie talk us through the numbers here how much of a surprise is this? A big one I was on the edge of the seat and my mouth hit the floor when we got these numbers. So CPI as you say at the headline rate undershoots expectations and actually went down when it was expected to go up. Still the biggest contribution upwards was fuel as but expected this is a pleasant surprise. You've also beyond that seen this massive drop in core inflation as well. So previously it was 6 .9 % it's fallen to 6 .2 % and the expectation was 6 .8 %. As a reaction you're seeing the pound dropping down 0 .3 % against the dollar. It's now $1 .23 which reflects markets interpretation of this that this is dovish for the Bank of England tomorrow. We were talking about the headache for the BoE, how difficult it would be if you had this move in the wrong direction from the inflation numbers. This kind of makes the BoE's job easier. We've heard the chief economist at the Bank of England Hugh Pill talking about us reaching the peak of Table Mountain, maybe the end of the rate rises and it makes it easier
AP News Radio
EU's von der Leyen to visit Kyiv to celebrate Europe Day
"The EU's von der leyen is visiting Ukraine to celebrate Europe day. Commission president Ursula von der leyen will be in key from Tuesday to mark Europe day together with Ukrainian president volodymyr zelensky, the 27th nation bloc traditionally masks its peace and unity on May 9. Meanwhile, zelensky has announced his country would equally celebrate the day together with all of free Europe. On the line has already visited Keith on several occasions since Russia's full scale invasion of Ukraine 14 months ago. She's been a major driver in providing support for the embattled nation and in setting sanctions, targeting
The Breakdown
Is the U.S. Empire Crumbling Before Our Eyes?
"This week is beginning pretty quiet on the crypto front. The FTX bankruptcy estate released a report with not a ton of new info or things that we didn't know, just more lurid details. Now I would say all in all, people's heads are definitely on the bigger issues swirling around. Take for example a post that went quite viral over the weekend from Adam Driver on Twitter, whose profile reads not the Adam Driver from Star Wars. The thread kicks off the empire is imploding and goes through more than 30 recent stories all relating to the supposed collapse or at least radically shifting landscape of the American led global order. A few of atoms examples. Number three Saudi openly divorces USA and ties nuptials with Iran and China. Number four D dollarization trade agreement signed. Number 5 Taiwan strait controlled by China. Number 17, China domestic chip manufacturing advancing rapidly. Number 18 American banking system on brink of collapse. Number 20, mass protesting in Franks, Macron struggling to keep control. 25 swift system alternative developed by Russia slash Iran increasingly being adopted. 26 an unusual increase in train derailments, factory explosions, chemical spills and contamination events across the U.S.. Number 30, demand for Zimbabwe's gold coin skyrocketing following calls by African leaders to stop using the USD as a primary currency. Now, I don't totally agree with all of the characterizations of events in the thread, but that sort of secondary to the broader point, which is that the collection of these things under this framework of the empire is imploding clearly has resonance. So we're going to use that as a jumping off point today for a bit of a geopolitics primer and catch up. And let's start on the themes of trade, China, and changing alignment. Last week, French president Emmanuel Macron and EU commission president Ursula von der leyen visited Beijing to meet with Chinese president Xi Jinping. The two European leaders had somewhat diverging interest during their visit. Borderland represented the concerns of the European Union, articulating that continued friendly relations with China were contingent on Beijing refusing to provide material support to Russia in a speech last week ahead of the visit, she said that China's interactions with Russia quote will be a determining factor in U China relations. Underlying stress the goal of quote derisking trade with China, a somewhat softer touch than the American rhetoric of a decoupling, but still strong enough to convey her concern for protecting European interests.
AP News Radio
Macron in China urges 'shared responsibility for peace'
"French president Emmanuel Macron says he wants to engage China towards a shared responsibility for peace in Ukraine when he meets Chinese leader Xi Jinping this week. French officials say, Macron plans to urge Xi in talks on Thursday to use Beijing's influence with Russian president Vladimir Putin, but he doesn't expect a big shift in the Chinese position Macron is accompanied by European Commission president Ursula von der leyen. In a show of European unity. She and Putin declare their governments had a no limits friendship before Moscow's February 2022 attack on Ukraine, while Macron wants to try to build and somehow engage China toward a shared responsibility for peace and stability on international issues, including Ukraine. I'm Charles De Ledesma
Northwest Newsradio
"ursula von der leyen" Discussed on Northwest Newsradio
"U.S. and the European Union are standing as one when it comes to Ukraine. EU commission president Ursula von der leyen with President Biden at The White House today. Partners strongly supporting together Ukraine that fights for freedom and independence. We're making Russia pay for its war. The two leaders also discussed security and clean energy matters. The White House is criticism criticizing a recent series of anti LGBTQI bills at the state level. Think about an LGBTQ kid at home listening to the debate, says White House press secretary karine Jean Pierre. Hearing elected officials talking about how they want to take away their rights or how they want to even threaten their parents with felony charges for seeking healthcare for their children. And? Attacking young kids and their parents. Because of how they view themselves. The White House spokesperson says the label anti woke is just about hate. Chuck sievertson, ABC News. You know, sometimes it really is better to say nothing. A New Hampshire state representative shouted and swore at a snow plow driver last weekend, complaining about how he was clearing snow. The tirade was caught on video and promptly got Jefferson greyson arrested. He's now charged with disorderly conduct, criminal threatening, and simple assault. This is ABC News. And this is northwest news radio 1000. Check the traffic every ten minutes on the fours. Tama fault joins us from the high performance homes, traffic center. Well, we're still launching this issue going on in tuck willa a crash south on four O 5 at the west valley highway has two the right lines block. That's causing a solid backup from oakdale avenue. If you're headed over the mountain passes this evening, traction tires now advised on Steven's path, no restrictions on snow quality pass
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"Week, global Wall Street seemed to be turning over a new leaf with the UK and the EU patching things up over Northern Ireland. Announced in the shadow of Windsor Castle 5 prime minister Rishi sunak. I'm confident that the Windsor framework that we announced resolves the issues that people have with the protocol that restores balance to the Belfast good Friday agreement. And that's what was needed. And president Ursula von der leyen. This new framework will allow us to begin a new chapter. It provides for long-lasting solutions that both of us are confident will work for all people and businesses in Northern Ireland. Solutions that respond directly to the concerns they have raised. While the United States moved forward with the first stage of its chips and science act, investing billions of dollars to bring semiconductor manufacturing back to America's shores. Everybody knows that this little chip that we have as part of everything that we do in our life. And most of them are manufactured overseas. So the idea here is to bring those manufacturing capabilities back home, not to be outdone, China got into the act with PMI numbers way above expectations, indicating its economy may be roaring back faster than it was thought. There was a rebound expected when the Chinese came out of their lunar new year, but this has been much stronger than people thought. And paving the way for president Xi's coronation at the national People's Congress beginning this weekend. This is really the last act of the transition. For Xi Jinping into his third term. But from the time he was given the third term at the party Congress, and now the costs of Xi Jinping's policies have been piling up. And Mark, it's pretty
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"And then suddenly this target is apparently coming off the roads. How much pushback has there been from Germany to this and what does it mean for the time frame? Yes, so in EU circles, just to make clear this is almost unprecedented. We had a deal that was struck between the EU's 27 member states and parliament last October, and that was, as you say, to effectively ban new combustion engine vehicles from taking to the roads after 2035. Now, the vote on Tuesday next week was supposed to just be a rubber stamp of formality, but Germany at this late stage seems to have had second thoughts and they're now pushing for a derogation for E fuels if you use a fuse which are to all intents and purposes on a molecular level look like petrol or diesel, but they're made using renewable electricity and carbon dioxide taken from the air. The technology is still in quite an early stage, but they want provisions so that new combustion engine cars after 2035 pan now run on E fuels. So that has triggered a bit of a disaster in EU circles and as you just pointed out, we've just run a headline saying that the vote on Tuesday has now been delayed indefinitely. We know that permission president Ursula von der leyen will be in Germany on Sunday and surely this will be an issue of discussion with Chancellor Olaf Schultz. Okay, it is really fascinating. 2035 is not long away and the EU would be so far ahead of other advanced economies if that is the date. What happens now, I suppose. So I think the base case is that there will be enough assurances provided to Germany that the commission will come up with a proposal on E fuels in the deal struck in October. There was a provision for that to come. It's just a question of when in the regulation there was going to be a review in 2026. It seems that Germany would like such a measure to be proposed much before then. By the timeline's tight, there's EU elections next year in parliament, so that means that a proposal is unlikely to come before then because of the time needed to agree it. But yet this has definitely thrown a thorn into things. We saw last month that Ford was taking away a number of jobs from Germany because of the transition to electric vehicles. So it's things like that that may have caused a bit of fear in new circles about what the impact of this rule might be. Okay, John anger are Europe energy reporter, of course, based at a Brussels covering climate and energy for Bloomberg on the latest in terms of the dispute the debate at least around that time frame for moving off internal combustion engines. Thank you very much indeed. Okay, we'll check on the markets for you in a moment. This is
AP News Radio
Sunak says U.K. has reached deal with EU on Northern Ireland trade
"The British government says it's reached a deal with the European Union to resolve their long running trade dispute over Northern Ireland. Prime minister Rishi sunak says he and European Commission president Ursula von der leyen would hold a news conference on Monday. The government had previously said it would only happen if a deal was struck government officials have told the BBC and Sky News that the deal has indeed been done. The agreement marks a breakthrough in a spat that soured post Brexit relations between Britain and the EU and sparked a political crisis in Northern Ireland, but now sunak awaits the judgment of Northern Ireland's democratic unionist party or DUP, which is boycotting the region's power sharing government until the trade arrangements are substantially changed. I'm Charles De
AP News Radio
European leaders meet in Kyiv to discuss Ukraine's path toward joining the EU
"Russian missiles have hit residential areas in an eastern Ukrainian city for the second time in 24 hours, while top European Union officials visit Kyiv. The latest strikes in clamatos came as rescue crews searched for survivors in the rubble of an apartment building hit overnight by a Russian missile, the missile killed several people and wounded well over a dozen others. Meanwhile, Ukrainian president Vladimir zelensky met with European Commission president Ursula von der leyen, ahead of what officials described as a summit. Von der leyen praised wartime Ukraine's effort to become a member of the EU. You became a Canada country while fighting an invasion. She also announced a new initiative to make Russia accountable for its actions in Ukraine. An international center for the prosecution of the trial of aggression in Ukraine will be set up in The Hague. According to von der leyen, EU assistance for Ukraine has reached $55 billion since the start of Russia's war,
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"Company accounts for around 12% of Germany's oil processing capacity making it one of the largest such firms in the country. The it comes as Berlin is said to be in advanced talks to take over uniper and two other large gas importers to avoid a collapse of its energy market. President Joe Biden says the U.S. will give Ukraine as much as $600 million in additional weaponry from stockpiles, Ursula von der leyen in Kyiv for her third visit since the Russian invasion has called on all allies to provide Ukraine all the military aid it's asking for. Speaking to Bloomberg, the EU chief said Ukraine's reconstruction will be discussed at a special European Congress next month along with sanctions. I am very supportive of the idea of an oil price cap in general for Russian oil. We started this debate in G 7 and it's very good that now the finance minister made a lot of progress on it. And yes, we are working on amending the sanctions package that is required for this new proposal. And we know that we have to be fast on that one. And of course, sanctions always need to unanimity. That was the European Commission president Ursula von der leyen speaking to Bloomberg president volodymyr zelensky says, quote, a mass burial site has been found in idioms. It's a city that Ukrainian forces have recaptured from Russia. Incorporate news, FedEx shares of slumped and extended trading after the company withdrew with earnings forecast on worthing worsening business conditions. The package delivery giant flagging weakness in Asia and challenges in Europe as it reported preliminary results that fell well short of Wall Street's expectations, the warning bragging, dragging the broader market down in a potentially worrying sign for the global economy. British Airways will scrap a hundred flights from Heathrow on Monday as airlines and air traffic controllers work to minimize noise during Queen Elizabeth state funeral. The story from Bloomberg's Charlie pellet. About 15% of Heathrow's schedule will be altered with flights halted for various durations throughout the day. There will be no
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"This is bloom time for us for results and not for appeasement. Already, there has been some voicing of public protest over being increased in prices, especially of energy. But the assumption that somehow we're not dealing with inflation or it's going to get worse. I think it's just wrong. Bloomberg daybreak, Europe, on Bloomberg radio. And at 7 30 a.m. here in London are very good morning. I'm Caroline heparin. And I'm Stephen Caro. Welcome to Bloomberg daybreak, Europe. We are live from London. Let's bring you a check on the markets, this area. Your stock is 50 futures a tenth of 1% higher as we head towards the start of the cash equities trading session here. In Asia, mixed picture of the MSCI specific index is a quarter of 1% lower this morning, but we are seeing some small gains in Hong Kong, the hang seng is up by three tenths of 1% of the nica in Tokyo by two tenths. This as we're keep an eye as the start of European bond trading here, we are seeing a small sell off at the start of trading and European Barnes German ten year bond yield is two basis points higher this morning at one spot 73 the Italian yields ten year yield back up over 4% on the currency markets have been burned dollar spot index is two tenths, stronger, while Bitcoin is 8 ten stronger ahead of that important merger of blockchain Ethereum software. That's 20,000 at $100. The merge, yep, absolutely. Let's go to our top stories then. France is to cap energy price hikes for households at 15% next year as it tries to ease the financial pain of the energy crisis. It comes as the European Commission has proposed a mandatory cut on energy use at peak hours in the block. The commission president as cervantes laid out plans to raise tens of billions of Euros from energy companies profits. In our social market economy, profits are okay. They are good. But in these times, it is wrong to receive extraordinary record revenues and profits, benefiting from war and on the back of our consumers. Our proposal also includes the fossil fuel electricity producers who have to give a crisis contribution and overall our proposal will raise more than €140 billion for member states to cushion the blow directly. That was the European Commission president Ursula von der leyen speaking yesterday, the EU's executive branch is also putting forwards a package of measures to ease the liquidity crunch in the energy sector in a bid to protect utilities from rapidly rising prices. Russian president Vladimir Putin meets his Chinese counterpart Xi Jinping for the first time since the Ukraine war began today. She's first international journey in almost a thousand days underlying Russia's importance to the Asian superpower former U.S. ambassador to NATO, Ivor dalder, says the now is the test of she and Putin's so called friendship without limits. Let's see how many what in fact those limits are. So far, China has not been willing to provide military equipment and Chinese firms have not been willing to provide the kind of high technology that has been blocked by U.S. and western export controls. We'll see whether there's going to be a turning point. My guess is she doesn't want to be in bed with Putin on that road given what's happening in Ukraine itself. That's Evo dalder, whose president of the Chicago council on global affairs. China and Russia's economic ties have grown despite U.S. and European sanctions in the war, jumping nearly 50% to $40.8 billion in the first 5 months of the year. And now, when it comes to the U.S. two to 30 year curve, it's reached the most inverted level this century with more why that matters, his Bloomberg's Charlie pellet. Treasury curve inversions are widely watched indicators that are seen by many as a potential harbinger of economic distress the gap between two and 30 years marks the difference between the longest and shortest ordinary U.S. benchmarks, although others such as the 5 to 30 gap and the two to ten spread are generally more closely followed, swap markets now indicate the traders expect the Federal Reserve to increase its benchmark to around 3.4% in the first part of next year with an increase of at least three quarters of a percentage point seen as a lock of the next fed meeting. In New York, Charlie pellet Bloomberg daybreak, Europe. Cries are continuing to file into Westminster hall in central London to see Queen Elizabeth's coffin, her majesty is lying in state until Monday when she'll be moved for her funeral which is being described as one of the biggest challenges for security in British history. Marc Lyle grant to form a national security adviser says the guest list will pause a headache for authorities. The president of the United States, the president of Israel, the emperor of Japan, all the
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"Seen effectively conservation working as a result of consumer response to high prices across the United States without a recession other than the technical recession, but we're seeing growth in the labor market that's pretty formidable. And even so, with more money in people's pockets, people are driving less. That is a lesson. If you let the market work to some degree, people are going to conserve. So one of the big experiments that the world Europe in particular is could prep is how much will people be allowed to conserve. The other experiment is what's going to happen politically as people get more concerned about inflation in their pocketbook and jobs than they do about Russia and Ukraine. We have some elections coming up in a couple of weeks. We have an election in Italy. And we'll see what the consumer rebellion might be against where these high consumer prices are. And for the EU commission president Ursula von der leyen talking about how the EU is going to propose a mandatory target for reducing peak electricity clearly the kind of response from government, you're alluding to here, yet as Europe faces this winter, there is a sense that this isn't just going to be a this winter problem. We could see years of restricted supply in Europe. So when you're trying to model out natural gas prices and what they could look like, how persistently higher, could they be? And is that something ultimately that the consumer is just going to have to tolerate? Yes, the question is not whether they're going to say these prices are going to stay higher, but how much higher will they stay? Europe is moving back to fossil fuels. Natural gas and coal, they've had a double hit this summer because a lot of nuclear reactors, particularly in France, had to be shut because of the lack of water for cooling the nuclear plants
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"As a result of consumer response to high prices across the United States without a recession other than the technical recession. But we're seeing growth in the labor market that's pretty formidable. And even so, with more money in people's pockets, people are driving less. That is a lesson. If you let the market work to some degree, people are going to conserve. So one of the big experiments that the world Europe in particular is how much will people be allowed to conserve. The other experiment is what's going to happen politically as people get more concerned about inflation in their pocketbook and jobs than they do about Russia and Ukraine. We have some elections coming up in a couple of weeks. We have an election in Italy, and we'll see what the consumer rebellion might be against where these height consumer prices are. And for the EU commission president Ursula von der leyen talking about how the EU is going to propose a mandatory target for reducing peak electricity clearly the kind of response from government, you're alluding to here, yet as Europe faces this winter, there is a sense that this isn't just going to be a this winter problem. We could see years of restricted supply in Europe. So when you're trying to model out natural gas prices and what they could look like, how persistently higher, could they be? And is that something ultimately that the consumer is just going to have to tolerate? Yes, the question is not whether they're going to say these prices are going to stay higher. But how much higher will they stay? Europe is moving back to fossil fuels both to natural gas and coal. They've had a double hit this summer because a lot of nuclear reactors, particularly in France, had to be shut because of the lack of water
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"See you energy ministers hold emergency talks later to thrash out common measures in the hopes of countering a looming gas and electricity price crisis. European Commission president Ursula von der leyen has set out a 5 point plan, which includes a price cap on Russian gas but it's likely to draw strong opposition from some member states. Health officials. People to minimize traveling to other cities during the national day holiday to prevent the spread of COVID. That diminishing hopes the government may relax restrictions after its party Congress in October. In a reversal of its guidance in June, the national health commission now requires all regions to conduct regular PCR testing. Treasury secretary Janet Yellen wants to see tax heights on the rich and companies to help pay for social spending. Less than two months out from midterm elections, Yellen used to speech to highlight what she sees as the Biden administration's economic success stories. She says the most immediate challenge was stabilizing prices without losing economic gains from the past two years. And Elon Musk says that SpaceX held talks with Apple about using Starlink connectivity for the iPhone's new satellite features. The comments came a day after Apple announced emergency SOS satellite, which allows iPhone 14 users to ping emergency services using satellite networks. It is unclear. If the talks are ongoing. 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, this is Bloomberg Manus. Well
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"Well the European Union is having major problems in trying to persuade Hungary to cut back on supplies of Russian oil at Baxter has more from the Bloomberg newsroom in San Francisco Eddie Yeah creating quite a problem Doug got French president Macron talked with Victor Orban EU commission president Ursula von der leyen talked with him and then a video call between the EU and the prime minister of Hungary was postponed The Hungary is not a voting member of the EU but Bloomberg's Maria tadeo says it is still a very important player in the region Now the Hungarians say that there is progress that is being made but a lot needs to be done Remember the set if they were to cut down a Russian oil it would be quote like a nuclear bomb on the country's economy Now for the time being they asked for a multi annual exception to this oil band and they also asked billions in EU funding Yeah Maria says there are a number of EU members kind of hiding behind Hungary's reluctance to cut Meanwhile Ukraine and Russia are clashing over gas flows to Europe a clash that could disrupt supplies through Ukraine to Europe The system operator of Ukraine says entry points will stop from tomorrow as it says occupying forces are disrupting operations Ukraine says a third of what is now going to Europe from Russia could be affected Italian prime minister Mario Draghi says the Russian invasion said the will bring drastic change to Europe and will enhance U.S. ties with Ukraine He's had a conference call with U.S. president Joe Biden and the joint statement says both the U.S. and Italy are committed to helping Ukraine World Health Organization director general Tedros cabret says is called on China to rethink its so called zero COVID strategy saying that no longer makes any sense given the rapid spread of the variants Bloomberg Stephen engel First of all it's a rare rebuke from him because he has been widely criticized at least early on in the pandemic for being quite deferential to China Now he is saying essentially these lockdowns as a result of the zero COVID policy is a bit futile And says it's not sustainable Beijing reporting out over 30 of reporting out 37 local COVID cases day to today Shanghai over 1400 local cases Elon Musk says Russians are ramping up efforts to hack Starlink His satellite system says so far the system has resisted And if when Elon Musk takes over control of Twitter he says he will let Donald Trump back on Speaking at a Financial Times conference Trump from Twitter didn't and Trump voice It will amplify it among the right And this is why it is morally wrong and flat out stupid Now what he does not mention is mister Trump's platform is not gain the kind of traction that he would have again if he goes back on Twitter But White House spokeswoman Jen Psaki says this is why immunity for companies based on what their users say needs to be revisited The president believes there's more that needs to be done and reforming section two 30 and there's a lot of bipartisan interest in that So this may be a reminder of the urgency of doing that Yeah sake says companies have to bear responsibility for what is published on their sites In San Francisco I'm Ed Baxter this is Bloomberg All right Eddie thank you Let's get to our guest Richard Harris is with us He is the CEO of port shelter investment management He's on the line from Hong Kong Thanks for being with us Richard I got to begin with this peer reviewed study from researchers researchers I should say at fudan university in Shanghai The indication here from the study is that China risk a tsunami of virus infections that could potentially result in as many as 1.6 million deaths if the government were to abandon this COVID zero policy So it doesn't sound like we're any closer to a change in policy I would assume here and what is the drag going to be going forward on the economy for the mainland Well I mean the drag is continuing And as we've seen you know in your news reports you see all the knock on effects in potential inflation in potential slowdown of trade It is getting to be more of a crisis now that it's more and more dragged out I don't know anything about that peer reviewed report It's actually not a lot different to some of the academic reports you had coming out of the U.S. and the UK at times And of course it's that sort of report that's going to worry leaders into taking extreme actions So but I think the bottom line is as you say there is unlikely to be any real change in the Chinese policy towards COVID certainly over the next four weeks I just have to throw in here because this is something that is trying to trouble me about the way the U.S. and China have handled their COVID policy We hear 1.7 million deaths and we think oh my God But in 2018 about the same number of people died of stroke in China And they also died from hypertension and there's smoking and obesity But we don't do lockdowns because of that and we accept that number of deaths As acceptable you know Do you think there's any chance that China will start shifting towards a different policy The problem is the Chinese have to find some element that enables them to turn around and declare victory Now we're talking a tiny number of cases In these places But the big issue is once the system has got itself on the tracks it's very difficult to get it off So we need some kind of change We need some kind of move and maybe it'll be a move maybe another report or something like that that enable them to declare victory But the interesting thing is you know in Hong Kong I've gone around a lot of the business community asking the same question which is why is the Chinese doing it It's almost an element of self harm This sort of self induced economic slowdown And nobody really seems to know it is almost as if the train has got stuck on the tracks I'm confident that they will find some way of getting off But you know it's going to take a while yet When we continue the conversation Richard I'd like to get your.
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"I'm John Tucker in the Bloomberg newsroom with this Bloomberg business flash The major averages have been bouncing between games and losses right now in the red so volatility continues to dominate markets stocks right now getting lower the latest jobs data cementing expectations the fed will remain on its rate hike path to find inflation and some P 500 retreating after briefly turning green All the major groups except for energy down today as oil hovers around a $110 a barrel and the tenure treasury yield right now topping 3% the ten year yield 3.08 that's a 5 basis points As far as the markets right now stock markets S&P 500 27 points lower the Dow down 211 the NASDAQ 112 points lower and that's your Bloomberg business flash This is balance of power on Bloomberg television and radio I'm David Weston to keep you up to date with news for all around the world We turn now to Mark crumpton here with the first word David thank you European Commission president Ursula von der leyen says finding unity on the proposed ban on Russian oil imports among the EU's 27 member states isn't easy and may take some days longer under the revised plan Hungary and Slovakia would get an extra year to comply The underlying told an audience in Germany today she's confident a deal will be reached Long divided left wing parties in France will march into upcoming legislative elections largely together The Socialist Party has.
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"Something about European headquarters here in London I'm Caroline Edgar with this Bloomberg radio business splash So we've just been talking about the European Union planning to ban Russian crude oil phasing it out over the next 6 months crude prices at the moment up by just around three and a half percent for breakthrough futures $108 at the bar a 106.14 for WTI crew The other big news though to look ahead to of course is the Federal Reserve 50 basis points priced in in terms of a rate high from the fed what will Jerome Powell say though about the $9 trillion balance sheet the more detailed plan will we get it on balance sheet reduction In terms of bond markets then this morning U.S. benchmark yields just below 3% at two 96 pulling back a basis point but here in Europe bonds sink a yields are up two and a half basis points in Germany 99 basis points are just below 1% We saw of course the UK tens also hit 2% yesterday We get a Bank of England decision on Thursday trade is pressing in 125 basis points of tightening by September for the UK inflation red hot Only look at the British retail consortium figures on shop price inflation 2.7% in April to understand that In the FX space pillow got a spot index is flat along with the powder actually the pan is stronger a tenth of 1% less Give you that note All right that is a Bloomberg radio business slash Now here's the Vogue Samuel Etienne with today's top stories morning Good morning the European Union is proposing to ban Russian crude oil over the next 6 months European Commission president Ursula von der leyen also said that refined Russian fuels would be banned by the end of the year Bloomberg has learned that Hungary and Slovakia won't have to enforce the ban until the end of 2023 both were opposed to a quick cutoff of Russian isle And overall in the U.S. the much awaited fed decision comes today and the Central Bank will likely hike Most economists expect to 50 basis point move and the hints about further increases A detailed plan for reducing the $9 trillion balance sheet may be unveiled when Jerome Powell holds his first in person press conference since the start of the pandemic And in the UK it is the last day of campaigning before tomorrow's local elections voting takes place across a 146 councils in England and the whole of worlds in Scotland People in Northern Ireland will choose members of their assembly and for all parties a key issue is higher living costs partly caused by soaring energy bills That's 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 I'm Samuel Etienne this is.
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"That one of our top stories at this hour We've talked about it earlier with Srinagar and our own June grosso Bill hwang the investor behind one of the most spectacular trading debacles in Wall Street history arrested earlier today this morning actually excuse me Yeah this morning over what federal prosecutors characterized as a vast criminal scheme to mislead banks and manipulate markets Now this is about a year after his private investment firm arca ghost capital management you might recall sending shockwaves through global finance prosecutors did provide their first full account of what exactly happened inside the firm and new details about the scale of Wong's trading the origins of his strategy And Srinagar and Bloomberg news really laying it out how he went from about a $1 billion or so in terms of the value of his family office to over 35 billion or 34 $35 billion And just how he got there and how he wasn't a household name but with that kind of worth he should have been because it would have made him one of the wealthiest individuals around Well the latest headline crossing about three 20 Wall Street time Bill Wong After being arrested and charged this morning he will be released on a $100 million bond So continued track what is one of our big business stories Also big today we're going to get a ton of earnings after the closing bell Here's the list hurts Qualcomm Pinterest meta platforms is really the key one you might remember what a big disappointment they were last time around It'll be interesting to see in terms of the advertising space whether Apple privacy rules have that continue to put some strains on that company specifically We'll see if that plays out in the results Mattel also reporting after the close forward PayPal HP and service now so we'll be breaking down all of those earnings in what is a volatile day of trading on this Wednesday All right let's get back to world of national news for that It's back to D.C. and Nancy Lyons hey Nancy Thanks Carol Russia is cutting off natural gas to Poland and Bulgaria and threatening to do the same to more of Europe unless they pay in rubles They get more on that from Bloomberg's Maria today in Brussels This is a major escalation between Russia and the European Union and a lot of this is political Of course Poland has been incredibly hawkish on the Russian government and then they had their gas cat off the same happened with Bulgaria which did not comply with that demand to pay in robots Bloomberg's Maria today a reports European Commission president Ursula von der leyen is calling the Russian move blackmail Microsoft says cyberattacks by state backed Russian hackers have destroyed data across dozens of organizations in Ukraine and produced a chaotic information environment The company in a report released today says Russia aligned threat groups were preparing long before the February 24th invasion Microsoft says they were prepositioning for the conflict as early as a year ago There is a surprise sign of cooperation between Russia and the United States We get more on that from Bloomberg's Nathan Hager Russia has released retired marine Trevor Reed from prison in exchange for Constantine Yara shanko a Russian pilot who was sentenced in 2011 to 20 years in prison for conspiring to smuggle cocaine into the U.S. from Liberia Reid was sentenced to 9 years behind bars in 2020 He was convicted in Russia of assaulting two police officers Reid's family says he had gone on a hunger strike last year to protest his conditions a Biden administration official says Reid's health increased the urgency of his release In Washington I'm Nathan Hager Bloomberg radio Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts and more than a 120 countries In the trucking industry.
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"President Biden is expected to roll out new gun control legislation as concerns over the nation's gun violence ramp up Biden is set to unveil the new policies Monday which will more than likely focus on ghost guns untraceable weapons that can be 3D printed at home NBC News reports the announcement will likely use executive orders by and is also expected to name a nominee as the head of the bureau of alcohol tobacco firearms and explosives Ukraine is taking a key step in the process to join the European Union That's according to the European Commission president For Ukraine the most important thing is to decide themselves what they want to do in future and how they want to shape their country And they want to join the European Union Appearing on CNN State of the Union Ursula von der leyen announced that she's giving Ukrainian president zelensky a questionnaire that would form as a basis to consider their candidacy She noted that Ukrainians are the ones behind the decision to pursue joining but the EU is taking unusual steps in the membership process given the country's unprecedented circumstances I'm Chris coraggio And I'm Doug prisoner at Bloomberg world headquarters in New York Let's check this hour's top business stories on the markets Markets right now are struggling with signs of building inflationary pressure in China Factory gate prices rose in March as oil prices climbed the Chinese producer price index gained 8.3% from last year And then on the retail level consumer price growth accelerated at a rate of one and a half percent in both of these readings were above forecast The yield right now on the Chinese ten year is at 2.75% And if you look at U.S. sovereign debt trading in the Tokyo session a ten year treasury now up more than 6 basis points in yield to 2.76% a two year treasury up more than 6 basis points as well to 2.57% Meantime a Bloomberg gauge of Chinese real estate firms is down by more than 4% at this hour the prolonged lockdown in Shanghai is raising fresh concerns about contracted sales and rental income And China is moving to rein in the potential abuse of algorithms by Internet giants from ByteDance to ten cent holdings The government is now focusing on the way social media platforms serve up ads and content as a way of hooking users We check markets every 15 minutes here on Bloomberg Right now in Hong Kong the hang seng is down more than 2.3% on the Chinese mainland Shanghai composite is off 1.7% in Tokyo the nikkei is down 7 tenths of 1% and sold the Cosby off nearly a half of 1% however in Sydney the ASX 200 is higher by a tenth of 1% Crude oil is moving lower on concern about demand destruction given the lockdowns on the Chinese mainland WTI 96 25 weaker now by more than 2% 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 This is Bloomberg.
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"And at 6 30 a.m. here in London a very good morning I'm Caroline Hepburn So President Biden string of summit we are live in Brussels and Poland today for those Biden and the European Commission president Ursula von der leyen are giving a joint press conference in just a few hours time this morning This also as we think about the cost of living crisis here in the UK because human confidence is plunging We also get UK retail sales out at 7 a.m. this morning Let's update you then on the financial markets as we do every 15 minutes here on Bloomberg radio We have the Hangzhou down two and a half percent now this morning MSCI Asia Pacific index also dropping half of 1% As she shares have been doing rather well in the last few days but not in Asia Futures this morning though for the U.S. stock 50 futures are up two tens of 1% U.S. benchmark yields at two 36 for the ten year yield down by a basis point and the big question really is about whether the American economy can get a soft landing with the help of the Federal Reserve The former treasury secretary Larry summers in the doubtful camp of course this morning All prices right now break through $119 a barrel up by a tenth of 1% Bloomberg dollar spot index pulls back two tenths of 1% and Bitcoin climbs above 44,000 for the first time in a month That's a look at the markets Let's get to our top stories He's Bloomberg's Leanne Garrett's good morning Good morning to you Caroline and thank you as a war in Ukraine continues U.S. president Joe Biden is calling for Russia's removal.
Bloomberg Radio New York
"ursula von der leyen" Discussed on Bloomberg Radio New York
"Kyiv time What is the picture now on the ground then in Ukraine 41 million Ukrainians Yes I mean you can see just huge traffic jams that people trying to get out of Kyiv and headwind I've spoken to the various people along the southern coast where people in Mario but John support cities that are and people there are also trying to leave and get to safety assuming that although even if they haven't been hit yet and the conflict will come to them So we do know that Russian formations have crossed into Ukraine from Crimea in the south And also from the north from the and then also from Russia and the northern regions around Ukraine I mean Ukraine is sandwiched then between Russia Belarus Poland Moldova Romania the Belarusians have said that they have denied involvement in terms of the Russian attack And Alexander Lukashenko saying that the Belarusian army not involved What do we think is going to be the response now from western leaders civilizing it Putin Right I mean well the first thing on Lukashenko Russian troops are coming through it's quite likely that the other Russians aren't amongst them We are just really very weak quite small army So it wouldn't be of much use to be quite honest So it's quite likely that that's correct As to sanctions and Putin I mean there are limited things tools that the west has essentially the focus very much on sanctions because they've said very clearly that they won't go in a fight to Ukraine or in Ukraine So at the moment it's all about what kinds of sanctions they're going to be tougher than it was there before It'll probably with that There is a package that we know of that they've discussed in some detail over the weeks before it includes larger Russian banks technology transfer and also just ways of excluding Russia from being able to borrow in western credit markets but that has yet to be agreed In terms of the wider fallout I mean you've talked to me throughout the morning about this could be quite a short military engagement but it has big ramifications Yes absolutely I mean we'll have to see how it unfolds It's clear that what the Russians want is a very fast campaign where they destroy the Ukrainian military and then it's basically over That's what they want whether the Ukrainians can hold out against the vastly superior equipment that the Russians have and turn this into a longer engagement which would be much more difficult for the Russians We'll have to see but either way this will have a long long shadow this conflict If the Russians get bogged down it will still really divide your Russia will be a pariah in many ways Economically it will be cut off And that has major implications for both sides And if they do succeed and they replace the government in Kyiv which they say they want to do and you have a pro Russian government there in a country that's basically demilitarized at Russia will have really set down a marker for how they want to see security their security assured in Europe With its neighbors essentially demilitarized A major challenge to NATO Mark thank you so much for being with me this morning That is our senior reporter for international affairs Mark champion Ursula von der leyen speaking to reporters saying that EU leaders will discuss a package of massive targeted sanctions that will target Russian banks amongst other steps So we await the reaction the response.
KDWN 720AM
"ursula von der leyen" Discussed on KDWN 720AM
"Incidents that happened in a span of 30 minutes. Toe options realize. This was a suspect that was shooting community members almost at random. Authorities are investigating to see if the shootings were a hate crime. The victims included two Asian men and a Latino man. Hate crimes, particularly against Asians have risen dramatically nationwide. European Council President Charles Michelle has apologized to European Commission President Ursula von der Leyen, who said she felt hurt and alone during a meeting with Turkey's president earlier this month. And she was treated poorly simply because she's a woman. She and Michelle recently met with Turkish President Recep Tayyip Erdogan in and Kara, but only two chairs were set out for three leaders. Michelle took the chair next to Erdogan, despite Vanderlei and expressing her astonishment and disappointment later, she was seen sitting on a large sofa by herself away from her. Male counterparts. I am the first woman to be president of the European Commission. I am the president of the European Commission on this is how I expected to be treated. When visiting Turkey two weeks ago like a commission president, but I was not. I cannot find any justification for what I was treated. In the European treaties. So I have to conclude that it happened because I am a woman. Would this have happened if I had worn a suit? The type in the pictures off previous meetings. I did not see Any shortage off cheers. But then again, I did not see any women in these pictures. Neither. I felt hurt. And I felt alone as a woman and as a European because it is not about seating arrangements or protocol. This goes to the core of who we are. This goes to the values our union stands for, and it shows how far we still have to go before women are treated as equals. Always and everywhere. Michelle apologized, acknowledging you should have given up the seat. The head of the EU's executive branch also said that during the talks with Erdogan, she raised turkeys decision to abandon the Istanbul convention, which is aimed at combating violence against women. She said that by the end of the year, the European Commission will put forward alternative legislation. All right. Well, how much would you pay for a pair of shoes? A pair of used shoes? Well, the prototype Nike shoes that Kanye West War for his performance during the 2008 Grammys have set a record for the largest amount paid for a pair of sneakers. Sotherby's announcing West's Nike Air Easy One sold for 1.8 Million, and a private sale, too rare is that's a Sneaker investment marketplace. It blows away the previous record of 615,000 set last year for a pair of 85 Jordan ones that Mike War when he shattered a backboard during a preseason game. In Italy and speaking of spending a lot of cash on what you find valuable. According to P. W C C MARKETPLACE. AH signed 2003, LeBron James Exquisite Collection Patch rookie card. Has sold for $5.2 million in a previous sale that is unheard of folks of the record for the most expensive card had been set in February. Was a 2018 autographed Luca Dodge It card that was sold for 4.6 million in a private sale, but that lasted just two months of the James card is the new record holder. Listen to this. 23 of the 24 most expensive trading cards of all time have been sold since February of 2020, which indicates a pretty high demand for rare sports cards. Right now. I collected him as a kid. I don't collect them. Now I know many of them have gone digital. But that is astonishing. It's not about people with a lot of money or trading cards. Take us with you. Wherever you go. Download the talk stream. Live free mobile app reach out to yours truly any time on social media. Twitter or Facebook. I met Matt Ray talk, use the hashtag A FN and follow the show on Twitter to add America's verse news that used the hashtag. A F end. Right now. Let's talk about balance seven for a moment Breakthrough supplement that will help you jump. Start your journey to greater health. If you suffer from heartburn, acid reflux arthritis. Maybe you're just looking.
Wealth Creator Radio
Boris Johnson and Ursula von der Leyen issue joint statement
"Trade discussions between the United Kingdom and the European Union resumed today. British Prime Minister Boris Johnson and European Commission President Ursula Bond early in spoke by phone Saturday and after issued a joint statement, saying their respective negotiating teams should make a further effort to assess whether significant differences can be resolved Johnson and bond early and said progress has been achieved in many areas, but also highlighted three areas of division fishing rights, the level playing field standards UK must meet to export into the block and how future disputes would be settled. The two leaders noted. No agreement is feasible if these issues are not resolved, I'm Ben Thomas Key is
News, Traffic and Weather
Boris Johnson, Ursula von der Leyen push for Brexit trade deal
"Emerging from videolink talks Boris Johnson what we need now is the C. available in the negotiations and I was very pleased that I see that above the land the commission president Charlie show the president of the council David society the European Parliament will agree they will sign up to a good statement to take us to the current transition phase ends at the end of December
Balance of Power
Brexit talks falter: Barnier says no progress
"The latest round of brexit talks between the UK and the European Union finish today without a trade agreement the E. U.'s chief negotiator Michel Barnier accused the UK of backtracking on commitments it made when it left the bloc he warned that the talks have made no progress that will add pressure for prime minister Boris Johnson and the E. U. president Ursula von der Leyen to intervene directly
Underwriters Corner
European Union urges Trump to rethink cutting funding to WHO
"The European Union is urging president trump to reverse his decision to cut funding for the World Health Organization you commission president Ursula von der Leyen today's that the funding is needed for the who to continue to lead the world's response to
Press Play with Madeleine Brand
EU gets new leadership team
"The new executive team of the European Union has been approved after a one month delay do the controversial backgrounds of some of its original candidates here's teri Schultz new European Commission president Ursula von der Leyen can finally take over December first after getting the E. U. parliament backing the first female head of the E. U. executive has a nearly gender balanced team and is pledging to expand that practice over her five
BTV Simulcast
Ursula von der Leyen, First Woman Chosen for Top E.U. Job, Wins Confirmation
"Man as the German defense minister Ursula von der Leyen has been confirmed as the new president of the European Commission she is the first woman to hold the job and it's only the second time in E. U. history that a German has been in the role she told lawmakers at the most pressing issue at the moment is climate change and that she would seek to bolster relations with the United States we should never forget that allies and friends to sit on the same side of the table if I may put it that way one of the ocean at heart of all the different topics that have to be sold in the very end we do know that it's better to be in the tens of healthy way trading with each