London I'm an astronomy and I mark is called saying good morning you're listening to our daybreak Europe we are live on London d.a.b. Digital radio you know now we're following developments out of Bos alone of this morning off to yesterday's van attack there and we'll be live in Spain momentarily in the meantime let's talk you through the market open as it's 8 o one here in London 9 o one in Frankfurt and Paris Barcelona contributing to a risk off the mood in the markets that this morning the stock 600 has just started in negative territory off by 3 quarters of one percent they can count off by a percentage point and we're also looking at the foot to $100.00 in negative territory conning by 7 tenths of one percent looking at the handover the s. And p. $500.00 dropped to one and a half percent yesterday and this morning the m.s.c.i. Asia Pacific index has been sort of building on those declines it is said the conning retreating by half of one percent in the f.x. Space both the yen as well as the euro was strengthening of this morning against the dollar the Japanese currency. Getting it almost half a percent with $1.00 costing or $1.00 cost in 109 spot oh $7.00 yen minus and did Marcus a little bit more we'll get to the very latest from Barcelona very very shortly let's get into some of our stocks to watch you and pots joins us in this universe Good morning to you take it to India 1st of all and this is a controversial story in regard to in physicist but it conflicts with the finder and the c.e.o. Mr Seeker looks as if he set to quit more money just the worst performer on India's nifty $50.00 today Vishal seek has resigned as chief executive of Infosys now is a major loss for a company which is dealing with heightened acrimony between the board and a cohort of founders the 50 year old boss has helped growing business revenue by about a quarter since taking the helm 3 years ago he's leaving Asia's 2nd biggest offer exporter as the industry goes through a difficult transition period in the meantime the current chief operating officer Previn Roy is taking over as the interim boss but in physician is down by 8 percent so far today Ok that's one of the lead stock stories we'll come back to you in in just a moment let's get to our main story of the day in terms of what's happening in Barcelona it is at the main discussion point for us absolutely just talking you through the latest details Spanish police have killed 5 suspected terrorists after a confrontation in a town just south of Basra loner that came just hours after rampage down the city's iconic loss of a new leaving 13 people dead and 100 more injured 6 civilians and a police officer walked were injured in the 2nd incident which took place in the resort town of comparables which the government said was connected to the Barcelona attack according to the site intelligence group Islamic State has claimed responsibility for the. Attack is Spanish prime minister Mariano Rajoy go to growth our neighbors in Madrid nice Brussels Bertalan or London have experienced the same hard that the people Barcelona have suffered and I want my 1st words to conveyed to them the affection the solidarity and the affinity of the whole of Spain and the whole of the world. That was Spanish prime minister Mariano speaking through a translator Ok let's get to Madrid 90 edited told white top Thank you for joining us this morning and the day's news line's other day 3rd suspect has been arrested more details will show I'm sure through the day what is the latest ad that you can tell us in tatters all of that and times the situation Yeah well moving forward obviously the driver of the van that ran over Dustin 3 in Barcelona is still at large. And you say a 3rd suspect was arrested that was about an hour ago police have confirmed that this individual was picked up in the town of every poll which is about 100 kilometers. North of Barcelona so there's there's quite a dragnet out there for people involved in what appears to be fairly wide terrorist attack in the reports and the local news reports say that. The group broke through a police check point at least gave chase. In the chase they ran over more people in the town of comparables were shot dead did police have said they wore at least some of the more explosive belts. That the new. Deal they have not confirmed what they suspect and that's what the 3rd individual arrested. Doing whether he is the driver or the driver still at large. Or I told yes indeed we have things happening in several locations in multiple locations around boss alone I just want to bring our listeners and you back to the fust incident in Barcelona itself and in the last say neighborhood 13 people were killed but another $100.00 or so were also ended what do we know about their injuries and is there a risk a about that the death toll could climb higher. Yeah. Late last night 15. 100 or so injured in critical state and reports are that authorities expect from me at least some of them the French embassy 26 of the injured worker and sort of. Relief this morning. Police are obviously trying to to connect the 2 of them to find out. How they're related. Thank you very much for joining us with the very latest there from Barcelona on the latest on the attacks so that is told White are added on the ground for us in Madrid with very latest details we'll of course keep you up to date with Sandercoe hall for as we get breaking news on this it's always difficult to combine the horror of terror with what it is that we do here in terms of covering markets but the reality of it is that terror has a significant impact on markets Ryanair is down by 3.27 percent Easyjet drops by 3.15 percent. Drops by 2.96 percent we see these very aggressive and immediate moments in the aftermath of terror and that is hitting markets that's get back to you in parts he joins in the studio to continue conversation. Other stocks that were watching to you in these airline stocks are under pressure but you have also got a story on Glencore yellow weakness in that sector yes going call and Chevron Corporation us excel or its investments in Mexico's nascent private fuel market now potential investors have been lining up in anticipation of the end of government regulated petrol prices or gas prices if you're listening in America the world's biggest commodities House has now opened its 1st petrol station in the country this week of the company's planning 1400 as part of a joint venture is just pretty much on change 110th of one percent us. Outperforming the wider European market this morning thank you very much for joining us with those couple stocks to watch emphasis of his big and the big the big Indian story and Glencore than as I say we keep an eye on Ryanair Easyjet and I agee Marcus our top stories we do go beyond in terms of the news but you know we are going to look to the United States as well this as key Republicans are making calls for quote radical changes at the White House a White House official says Gary Cole will also stay in his post as president Trump's economic aid this follows room is speculation that perhaps he was heading for the exit boom bags of top and reports from Washington several top administration officials were plainly pained as they stood there listening to the president's verbal bombshells in Charlottesville the White House took pains to insist that Cohen is remaining in his job he's a key figure in the quest for a tax overhaul as well as an increase in the federal borrowing limit he along with Treasury Secretary Stephen and the president continue to tweak his critical view of those who would remove statues of Southern heroes of the American Civil War Irv Chapman Bloomberg daybreak Europe Washington. U.s. President don't trump will not move forward with a planned advisory council on infrastructure that's according to a person familiar with the matter and the infrastructure consul which is still being formed would have advised Trump on his plan to spend as much as one trillion dollars upgrading roads bridges and other public works is consolation for those trams anoints made on Wednesday that he was disbanding to business advisory panels Now here's another story that we're watching for you this morning from China home prices in China rose in fewer cities in July adding to signs the property market there is cooling Bloomberg Brian Curtis reports from Hong Kong new home prices gained in 56 out of 70 cities from the previous month and that compared to 60 in June government. Curbs are starting to bite but admittedly these are very small bites akin perhaps to a chipmunks earlier data showed that new home sales grew at the slowest pace in more than 2 years prices in Beijing fell not point one percent last month were unchanged in Shanghai values dropped not point 2 percent in Shenzhen and increased not point 4 percent in Brian Curtis Bloomberg daybreak Europe Hong Kong. Ok let's see what else is going on in Iran the world is very latest dates that's got to sound good morning good morning manis the u.k. Is preparing to give the details of its approach to Bragg's it next week when it lays out positions in at least 3 different areas that it wants to negotiate with the European Union according to 3 people familiar prime minister to resign May's government will publish 2 papers on Monday with more expected in the following days u.s. Citizen and defense secretary Jim asses say military action against North Korea remains an option with a unified international message like we've never had before they will realize the level of our civilization they find themselves in and that the future that they will face with that level of our civilization is bleak and will only become bleaker if they continue this pathway. To listen to remarks come off to trump senior adviser Steve Bannon said an attack was a nonstarter because millions of people would die in Seoul. Has faced off with right wing supporters at a rally in East Germany and made her 50 stop campaign 2 of the country Donahue recruits America Confronted the strongest protest so far in her election campaign as right wing hackers gathered in a town near the border with the Czech Republic the campaign rally on the former East Germany was a lingering reminder of the push back America faces since 2015 when more than a 1000000 migrants began pouring into Germany after dawn you bluebirds daybreak Europe on a barren book called Germany and Poland's Foreign Ministry is looking to rein in the ruling policies demands for Germany to. State the country for damages caused during World War 2 He makes most he's most. Calls for the reparations more than 70 years after the end of the conflict is selling relations between Poland and Germany its biggest trading partner a lawmaker asked for parliamentary analysis if there are grounds for Poland to seek damages in its reply the foreign ministry said that successive Polish governments have declared the issue of wartime damages from Germany closed and that hasn't changed for the most part they break euro global news 20000 by more than 2700 Jenison and listen will the 120 countries and so on to kill health this is being bag thank you very much indeed Sondra Now still ahead here on Daybreak Europe will To the. Bloomberg Radio dot com influential conversations from Bloomberg Television Here's David Weston for more of the c.e.o. We turn to former Kellogg c.e.o. Carlos Gutierrez was also a former u.s. Commerce secretary he's now a co-chair of the Albright Stonebridge Group in Washington and he joins us from the fair city of Washington put yourself back in your c.e.o. Job for just a moment would you have joined one of these councils You know I think that where C.E.O.'s are going to get their biggest pressure will be from employees and you know corporate America for the past 2030 years I've been working very hard boards of directors C.E.O.'s to develop an environment of tolerance and respect the diversity and now I think employees are looking up to the top floor and saying are you going to walk the talk if you're a c.e.o. And assume you have been asked to join it would you have any difficulty at this point stepping down I don't think so I think it would have been a very easy decision although I'll tell you it's easy for me to say that because I'm not a c.e.o. But but I know. Oh you know corporate America I mean this is not tolerated in corporate America these things are totally to we sometimes forget that we think that you know Washington is very much ahead of the game but but corporate America has been on diversity for decades and this kind of talk isn't tolerated here more interviews like this one on Bloomberg Television streaming live on Bloomberg and on the Bloomberg mobile app or check your local cable listings. Global Business News 24 hours a day of. The radio plus mobile phone radio is a blue bird business for. Headquarters in the city of London I'm an astronomer Tom Navi of member of radio business trash Let's get across to the breaking words 1st word breaking news desk as ever joins us on the line see of the morning thank you minus uncertainty and uneasiness continuing in European markets after the moves yesterday Safehaven currencies the yen in particular strengthening bond markets rallying with Spot gold of the moment we are 3 blocks away also from the e.u. Today high in gold as investors look to those safe havens the undercurrent of the North Korean situation the latest a terror attacks in Barcelona and the lack of stability coming from the White House in a pretty shedding brisk. Opening heavy. Under-performing following the tragic events of yesterday common eat low up by 4 percent after 20 minutes of trade the German Dax by 9 tenths of a percent the travel stocks unfortunately bearing the brunt of following the terror attacks in Barcelona looking ahead to the Canadian c.p.i. Report and the University of Michigan sentiment figure or 2 from the North American session. For the e.c.b. To publish their week ahead list of speakers markets will be looking for any further information in regards to the speech from the President Draghi at Jackson Hole That's it for me breaking news. Thank you very much of course as those markets move on our stocks and hotel yourselves react we'll bring you those market moves throughout programming. Your latest on markets let's get across to San Diego how she's got everything else is going on Rhonda was sound good morning police have shot dead 5 terror suspects after a 2nd attack in the town of come the incident comes just hours after 13 people died in $100.00 more were injured by a van plan. Down bus alone has lost it on last avenue the driver is not among 2 suspects have been arrested for what authorities describe as jihadi terrorism college pushed him always Catalonia is regional President Obama Kashmir your home democracy and the intrinsic values of freedom and equality will always rise above terrorist violence between us on all our institutions and we will be against those who try to confront civilizations with violence and. Sierra Leone's government is warning of further mudslides in exhaust residents to evacuate off to a large crack appeared in a mountainside this comes as families are paying final respects to victims of this week's mudslides and flooding in Freetown more approximately 350 people died and 600 more remain missing and u.s. Aviation authorities say Delta Airlines was involved in 3 wingtip incidents in just 2 days at j.f.k. Airport on Tuesday evening the wing of a Delta 37737 hit the tail of an American Airlines 757 then on Wednesday to Delta c r j planes were involved in a 2nd incident before another Delta jet hit a flatbed truck an hour later the n.t.s.b. Is investigating implying the incidents may be more serious than usual Global News 24 hours a day powered by more than 2700 Jenison on this and more than 120 countries and so on to kill half this is being bag Marcus thank you very much indeed Sandra Now on to u.s. Politics because pressure is mounting on total Trump after a senior Republican who once considered joining the administration has called for quote radical changes Senator Bob Corker says that the president hasn't yet demonstrated the characteristics needed to serve in his job but as another Senate Republican Tim Scott of South Carolina said Trump has compromised his moral authority with his response to the violence in Virginia and for more let's bring in Bloomberg Congress editor Joey Schneider who joins us now Jodie So we've got these Republican criticism at the same time markets have been contending with the rumors that Gary Coleman the head of the National Economic Council. Would step down we've heard from the administration or sources within the administration but that's not happening he's staying put Still though I'm kind of wondering why is Gary Coleman seen as such a central character here why is he making markets move well because of his position on the National Economic Council and also because there's such sensitivity this week to the fall out from the president's comments after we had seen the C.E.O.'s essentially publicly rebuked him by stepping down from the council's their advisory councils on which they were they had held positions there is now all the sensitivity around might other people go and also among the speculation that members of the president's cabinet are not happy about what happened this week and now we're seeing it obviously a Capitol Hill issue just noted Bob Corker is particularly notable that criticism is coming from him because he was he had was actually an ally of President Trump met with President Trump before he was that hard to read it but he was you know. Just before he became president to discuss the possibility of becoming secretary of state so he's not somebody who we would expect to hear this kind of criticism from and it was quite sharp criticism so very much that there is the escalation within the g.o.p. Jody in terms of questioning Donald Trump markets moving a yes or a huge level of that Gary Cohen of course who was leading one of those those kinds of might indeed leave he is what Wall Street and many in the markets have looked at as being the real deal when it comes to tax when it comes to infrastructure when it comes to the economic agenda of the trumpet ministration and that seems for to remain in track and in place right right now there's the risk as we heard from sources saying that Carrie Kahn was not leaving in the markets. Kind of calmed down some after after that was said to be the case but again this points to the whole larger issue of the lack of support from key business leaders and the business community which had really been willing to back President Trump they had wanted to see what he could do as the c.e.o. President on issues such as a rewrite of the u.s. Tax code on infrastructure spending on related issues business and regulatory issues and now they are there are serious concerns that he is going to be able to get any of that done and they're they're all tempering their support at this point I mean there's still obviously some the business community who support him but it went from being people wanting to support him wanting to serve in his councils now for them to stepping back just in a few days you know Jodi I was listening to comments as well from Neel Kashkari of the Minneapolis Fed yesterday he was talking about how the Fed is essentially looking at the debt ceiling debate as well I mean that's another issue sort of sailing up on the agenda at this stage which makes me think that this political turmoil these political concerns ongoing Anyway that's right they when the Congress is on summer recess now so when they come back in September they have 2 things they have to grapple with before they get to any of these you know kind of wish list legislative agenda items they have to get a budget September 30th the government will shut down and we've seen that movie before they've done it before if they can't get a budget they can't pass the same budget in both chambers of Congress and get it signed you right by the president you fly job radio a lot of the response political and market that is show to Schneider on Ed is a is in Asia for study and is on the move no 19 wait. your broker dealer I love that I can call and get expert advice I love that you answer the phone and that I'm not a number I love the sense of community the culture is great and I love the service real quotes from real advisors in fact advisers are head over heels about Commonwealth financial network ranking us number one in satisfaction among independent broker dealers why so smitten maybe because we've been putting relationships 1st since 1999 starting with our accountability to you and your clients alone the consistent investments we make to ensure you have every possible tool support and competitive advantage and the fact that you can trust us to have your back through both good and challenging times visit Commonwealth dot com and find what if you. Like to be swept off your feet member Finra Sipek a registered investment advisor number one incentive based on wealth management 2016 independent broker dealer report card survey asking advisors from independent bts to rate their overall experience from one to 10 Hartford funds human centric investing inside number 23 when a woman out earns her husband it's called the reverse breadwinner effect and it definitely changes the way couples talk about money to learn more go to human centric investing dot com funds distributors l.l.c. . First. 60 days and with think who is good president James Bullard one real problem which could be doing is he be moving preemptively against future inflation being the policy right now we're actually in pretty good shape for rates we can leave them where they are and see how the data. Speaks we lose a 63.7 to 62 Bloomberg Radio plus Bloomberg Radio dot com influence who conversations from Bloomberg Television Here's John Barrow tell us now from Boston you're in same directive global macro as the tele t. Investments you're in Santa 7 so i months into his presidency is it a little premature to say that they were not going to get that much achieved just 7 to 8 months in. Well so in the 1st 3 weeks after the election you know small caps you know rally about 20 percent the number of Fed hikes that were priced into the market you know shot up by several more hikes and then for a few months that kind of held in and then for the last 4 months or so it's all been unpriced and now small caps rolled of to large caps which is my sort of favored proxy for the problem trade for lack of a better term is back to the fact that he lection rose and inflation expectations are nowhere to be found to 10 years at 2 and a quarter so you know in terms of how are the markets responding to all of this news and basically when you look at the s. And p. You don't really. See any response because the s. And p. Is driven by global the global warning cycle which is very robust but underneath the surface all the markets had priced in more of the agenda including the dollar have completely on price it so a lot can still happen but obviously it hasn't and it seems unlikely that it's going to hear more interviews like this one on Bloomberg Television streaming live on Bloomberg and I'm a Bloomberg or check your local cable listings a man's granny. Broadcasting live to London on the digital radio to New York Lou but 1130 to Washington d.c. But 99.2 Boston blue book one of 6 want to San Francisco Bloomberg NY 60 around the globe the Bloomberg Radio plus out of Bloomberg Radio call this is Bloomberg daybreak your. Face is gone 8 30 am in the city of London it is 9 30 am in Barcelona this morning Friday I'm Manisha granny and I'm off as calls and good morning you're listening to a Bloomberg daybreak Europe we are of course following developments out of Bos a loan amount is this morning after yesterday's vine attack it's contributing to a risk off mood with European equities on the back photos where 30 minutes into the European trading day the stock $600.00 retreating by 3 quarters of one percent stocks are among the fall is this morning on concern that tourism could be hit just looking at the Easyjet France does off by more than 3 percent i.a.g. Off by more than 3 percent at this stage if you look at the handover as well the s. And p. 500 dropped to one and a half percent yesterday this morning also the Asia Pacific index has been on the back foot off by a run about a half a percent in the ethics space both the yen as well as the euro are gaining on the greenback as the Bloomberg dollar spot indexes retreating by 2 tenths of one percent perhaps these concerns regarding politics in Washington shining through when the dollar this morning we're looking at a dollar yen right that 109 spot 0. 5 which means that the Japanese currency is strengthening by half a percent Ok to our top story Marcus Spanish police have killed 5 suspected terrorists after a confrontation in a Tyneside of boss alone came just hours after a van rampage down the city's iconoclast Romulus Avenue killing 13 people and injuring up to $160.00 billions and police officers were injured in a 2nd incident in a resort time of Cumberland which is the government said was connected to the Boston attack according to science intelligence group Islamic State has claimed responsibility for this attack this banished prime minister Mariano Rajoy Now let's talk more about this now and security in Europe joining us down the line is Pauline Neville Jones a former u.k. Security Minister thank you very much indeed Pauline for being with us this morning this unfortunately is only the latest in what's been a spate a series of similar attacks across Europe in the past year or so we had a nice last summer we had London the spring Stockholm as well is there any way that security forces and authorities can put in put a stop essentially can hinder these kind of attacks from happening. Well they all get a general consensus that they are very difficult thought occurs there relatively low level technology equally organized literally and executed without leaving my pretty. Character so far he could pick up while you're going to. Play. Acting that badly prevented but I think there are 2 things clearly that America from. And others previously want to. Make it more difficult will they're called. Factoring in a good time to kill people. That's. Designed in the street reduce a capacity a little so. Far than say. A pavement sidewalk. More difficult more profound but in the end I think a real a real crew is clearly having a better a better grasp or better knowledge about little networks we're just all just on the point barren as never Jones Obviously we are becoming on fortune the used to these incidences here in London in nice Barcelona. 11 has got to get to the stage of we're something that it's no longer acceptable to say this is just logistics I mean at some stage authorities have got to do more in to in terms of communications in terms of technology in terms of access to information flow is that where we will travel is that is that there is not the pace of travel that you expect to see. Exactly that. You put your finger on I think where I where I want to see things going. Tracing the activities of people who are plotting things who are planning things. Easy Absolutely not. In the days of al Qaeda when they directed it from the far you could pick up an electronic trace 1200 what you need to look for. This is infinitely harder because it's local and probably much much. Picking up traces electronically it isn't particularly easy and doesn't give you much time but. The people using technology for that to that effect also have the of course good relations with the local community people as somebody who knows something. I think it's a combination our penetration of the local communities use of technology. Means you know facial recognition there are things that we can do it involves investment in developing techniques and actually much more than the power of the police. The pennies have to do very great deal of this we talk about the intelligence agencies the supply material but in many ways it's good policing both of the community using the techniques available and then applying the powers of the police to prevent things happening. This is going to be the case so I've got a lot of this is being very high grade these things. Just very briefly what's your main advice to Spanish authorities grappling with this as we speak. Well they will want to reassure people that this is not. Further episode so they will be I think a reassurance of all of police in the street but also of course they have to conduct a good investigation to discover they say from this case because people will not be reassured until such time as it appears a driver in particular is apprehended the 1st thing they have to do. And governments do have to say to their populations and we can't collectively we can't let this happen we've got to actually act together. A duty on populations actually to help the police but also themselves some of the things that I've just been talking about including an increasing physical impediments in the way of mitigation at school in the way also for a lot of attack taking place and also developing their investigative abilities it's a mixed recipe it will take time but I think populations need to know the governments take this very very seriously indeed bear in a novel Jones thank you for giving us your time and your thoughts this morning about as not. Joneses of course the former u.k. Security minister here in the United Kingdom the burden the duty the burden of Juji lies on society as well as government I just wonder to what extent do we have to be reassured by government for we take the onus of responsibility as our duty anywhere we could to news to a photo events in Spain of course let's bring you some other headlines from around the world though his sound good morning we begin in the u.s. Was Senator Bob Corker a senior Republican who once considered joining Donald Trump's administration has spoken out against the president says Trump hasn't demonstrated the characteristics needed to serve in his job I do think there need to be some radical changes has not yet been able to demonstrate the ability nor some of the competence that he needs to demonstrate in order to be successful later film of Vice President Al Gore said in a video published by bridges online media signed Bible that Trump should step down g.m. And right wing supporters have heckled Chancellor Merkel during a rally near the border to the Czech Republic pm bags Patrick Donahue reports taking on the demonstrators who are associated with Germany's target immigration a party the jurors can only shout the campaign rally on the former East Germany was a lingering reminder of the push back America produces since 2015 when more than a 1000000 Margaret began pouring into Germany. Brick Europe on a burnt beholds Germany a think tank is warning that the u.k. Should walk away from talks unopposed breaks a trade deal if the e.u. Offers bad terms to Bagshot Ryan has the story the Institute of Economic Affairs continue regardless of taxes and that Britain should pursue a policy of 010 to take discussions on one of the trickiest tests on the agenda. As Britain seeks fixes trade with the European Union after it leaves. Radio. And Kenya's Supreme Court will to. They begin deciding whether to nullify this month's presidential elections thanks Paul Richardson reports most legal experts expect a coup to uphold President Putin your victory while the opposition says election research is computer systems were hacked it will have to show compelling evidence that that was the case the sitting judge who'll be wary of upsetting the status quo and the kitchen's of ordering a new election given last week's vote for the canyon economy to a virtual standstill Richardson Bloomberg a brick you're not ready to deal with News 24 hours a day powered by more than 2700 journalists and I'm a similar 120 countries and time to kill for this is bin bag Marcus thank you very much indeed Sandra Now coming up here on a Bloomberg daybreak Europe we'll be speaking to Nigel Jenkins managing principal at page paid paid and Reichel global he's going to be joining us in our London studio we got it right there in the end he got his in the end he did indeed like a lot to contend with I think for the world and for markets this morning the debate between what's happening in Washington the reality of the Cohen position that he is staying that perhaps secures markets to a certain extent but there is an undecided malcontent in these markets as Barcelona is gripped by terror and the police investigations on the way stocks are lower money is flowing to havens stock 600 down 7 tenths of one percent and it is the stocks that are taking perhaps most of it but this morning Ryanair is down by 2.53 percent we discuss markets and more right here on your markets are. This is no ordinary place how do you would tell so this is no ordinary what you make of what he's done to your business to him financial moves about in from the Bay Area Eric Schmidt executive chairman of alphabet and Google's role in driverless cars extraordinarily do you expect that trend to continue that we've got with companies that fix one problem I'm 61 o 3 horns are going to do the Bloomberg Radio closer to burn dot com. Kevin Gallagher is a gradual. Of n.j. I-t. New Jersey Institute of Technology he rose to become president of a global specialty chemicals company generating $500000000.00 a year before retiring he put sustainability at the center of the company's farseeing business strategy the whole issue of sustainability is an important one for institutions like n.j. I t because in many ways it represents one of the next technological from 2 years we've developed so much in the 20th century and into the 21st century in terms of innovation and technology that it's really only been in the last 20 or 30 years that we've begun to worry about well how do those technological solutions continue through multiple generations where we will use up resources less quickly to graduates or both sensitive to and interested in solving technological problems in a sustainable way and j.i.t. New Jersey Institute of Technology learn more at stories of innovation n.j. I.t. 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Economics the boss at the start of the year and as we progress through the year was yes the data might come in a little bit soft but we're going to hike that might come in of itself to going to high because the general economy. Is the bias still to high if we carry on getting 6 inflation prints that itself the 7th or 9th the 9th What is the challenge was the inflection point was trying to trade trend there's 2 ways of thinking about this the 1st is it is true that a lot of transitory and idiosyncratic factors have been weighing on inflation and so I sympathize with the Fed on that it's also true that they've been running below 2 percent for a long time I think where we are right now so they need a very strong reason not to go I mean that's been the big sort of change since last year so I think if the jobs numbers are going to continue to come in healthy and you get another tick down in the unemployment rate the federal probably ready to tee up another hike in in December you know I don't think the bond market is somehow so I'm an impotent I mean if you go back to where we were earlier in the you know late last year you know no one thought the Fed was going to go twice in the 1st half of the year but that's exactly what happened I think that there are upside rest of the u.s. Economy particularly from inventory investment so I'd have been inviting people in I think now's a very opportune time to continue to take short positions in the front of the Treasury curve the Fed's going to see or I think the market price for a year more interviews like this one on Bloomberg Television streaming live on Bloomberg. Bloomberg or check your local cable listings. Global Business News 24 hours a day of. Radio plus mobile. Radio is appealing but business class. In the City of London on minestrone with issue Pittsburgh radio business European stocks extend the global slide off the terrorists attack to the cried streets of Barcelona really to. Have terror and the dysfunction in present administration and u.s. Policy paralysis those are the risks to moderates this is. Easy Jet is down by 2.15 percent 12.3. 3930.45 percent drops 2.56 percent at 18.49. $600.07 tenth's of one percent at $374.00. X. Dawn 3 quarters of one percent 12113 money to traditional havens the yen is bad the dollar is often 10908. Of one percent on the dollar that is a rise of ten's of one percent on the yen the end has been rising for 3 straight a lot of sound good morning man. Spanish police have shot dead 5 terror suspects after a 2nd attack in the town of company the incident comes just hours after 13 people died in $100.00 more were injured by a van plowing down Barcelona's last round Avenue the driver is not among 2 suspects who have been arrested for what authorities describe as jihadi terrorism college pushed him away as Catalonia has regional president. Kashmir your home democracy and the intrinsic values of freedom and equality will always rise above terrorist violence not only tween also on all our institutions we will be against those who try to confront civilizations with violence in Sierra Leone's government is warning offend the mudslides and has also residents to evacuate after a large crack appeared in a mountainside this comes as families are paying final respects to victims of this week's mudslides and flooding in Freetown where approximately 350 people died and 600 more remain missing and astray and Prime Minister Malcolm Turnbull says he's confident the high court will rule that 3 coalition to make his with dual citizenship can remain in Parliament a growing constitutional crisis threatens to undermine Turnbull's government after several lawmakers have revealed their own potential breach of 117 year old law that boss dual citizens from holding office Global News 25 hours a day powered by more than 2700 journalists and then listen more than 120 countries and so on to kill half This is give back thanks very much Sandra now joining us in our London studio is a Nigel Jenkins managing principal at paid and dry gold global a very good morning to you Nigel it's great to have you here now we're looking at markets this morning that grappled with the attack in Basra loner Also with us political turmoil What's your reading of this risk off sentiment and about the fragility of this markets and the sensitivity. Of news or to news like the ones that we're seeing developing in space Well 1st off of course this is you know yet again tragic news from that this time from Spain I think in terms of. You know for what it's worth the financial market response is actually very very muted and I think we've had a series of tragic events like this and each one has I think a progressively more modest impact on the financial markets but I guess at times like this financial markets aren't necessarily the biggest concern I mean if as you say on Fortunately we be calm more our capacity to process terror Fortunately becomes higher which is a conversation with Baroness Jones and you say near the next move is more information on the ground but if I look at markets and I talk about what's happening in the United States of America at the Daily Prophet wrote a piece this morning that the market has finally realized that it's. Perhaps the more important facet of the White House administration in terms of keeping the dream alive of tax and infrastructure reform would you agree with that . I think Gary Cohn is certainly an important piece of the puzzle I think to some extent the dream of President Trump really turning turning things up a notch in with the u.s. Economy as kind of already lapses is a where he virtually virtually dead to be honest so you know I think a continuance of Cohen in the administration is helpful but really I think expectations now are very small for what difference President Trump is going to make correctly so I think you know you say that developed sulfur and looks pretty expensive took us through your thoughts that yeah in the global economy is doing just fine you know it's not gangbusters by any means but we've got let's say give or take 2 percent of g.d.p. Or a little bit stronger in most regions of the world in our view that's strong enough for the Fed to be continuing to raise interest rates we think they'll raise one more time in December of this year that's kind of a consensus school but where we differ quite markedly. Specked in 2 or 3 hikes through the course of 2018 and probably the e.c.b. To begin raising interest rates very slow pace during the course of next year as well I think it's only very very low interest rates or negative interest rates in the case of Europe that is maintaining. U.s. Treasuries and other global markets where they are. The dollar itself has been under a incredible pressure that's part of the fading glory. In terms of the Trump trade I just wonder to what extent. More accelerated. The dollar's a very crowded trade but here we are with political administration which is under pressure and I'm being generous in a phrase there my question to you is that pressure already priced into the dollar. In our opinion probably most of the pressure is a way to be priced into the dollar you know we've already seen you know the the move let's say from 107 say against the euro 211-7118 where where it is now sure it could go further you know does it go through 120 quite possible in the next month but I would say. Quite firm opinion would be that in 6 months time $1110.00 is a much more likely outcome than you know $125.00. Mostly it's priced in what's going to drive this development as it is of the politics or is that the Federal Reserve Well I think it's based on expectations relative to what's already priced in and perceptions of the trumpet ministration I mean sometimes it seems hard to a Friday morning. And raise rates really. Yes they can I mean they'll be very very cautious I think about the sequencing of it but I think it's we're strongly of the opinion that they do start the balance sheet reduction in September . That they don't raise rates right at that very moment but actually the balance sheet reduction will will start at $10000000000.00 a month that's very very modest to be honest it's a good price of balance sheet reduction it won't royal financial markets at all it's widely expected and then they'll receive in interest rates in December in our view and we'll carry on doing that in 2018 with an increased price to balance sheet reduction at the same time I just want to ask you Nigel about. The European Central Bank as well because we did to get through that account from its last meeting yesterday essentially saying that e.c.b. Officials are worried about the potential strength of the euro they want flexibility as they head for the exit so to speak of stimulus what's your take away . First off the e.c.b. for insolvency early this week is perspire owning the publication of its 1st tough results in Definitely this is according to the job a news agency d.p.a. This is a follows this week's news of course that this. Was in deep trouble as its main doco really at. All the Abu Dhabi was pulling the plug essentially on the lens so once again as Pony the publication of its fast tough results indefinitely we understand this morning Ok that's the very latest we would of course keep you abreast of all of the breaking news coming from Basra in the Johnson and. Seen all the next. Airlines under pressure this is Bloomberg. This is daybreak It's 58 minutes past the hour now it's time for a check of sports from around the world has done a page in Europa League qualifying Everton beat high didn't split to nail in the 1st leg of their play off the 2nd leg is next Thursday in Croatia are slow to confirm that star Luis Suarez will be out for 4 weeks after suffering a knee injury in Wednesday's Super Cup loss to reanimate dread the La Liga season starts tonight in tennis rain interrupted play at the Cincinnati Masters but dominate team is through to the quarter finals where he'll take on David for Grigor Dimitrov to beat Juan Martinez to move through to the quarters. Again sort of not World sports update. With more from Berkeley University at bloomberg dot com and on the radio plus mobile is clearly w over here as everyone over $3.00 f.m. H.d. To San Francisco they say is Bloomberg daybreak you're up the reality of selling now is still an enormous amount of uncertain Seguro for the multi-story the right to carry your account is called How to create a circle around the world is a major issue where the weather is coming to you like this are the overthrow of European culture of that really maybe because I think the American economy is doing fine that the rest of the world probably Bloomberg tabling to get Johnson and Miller and Bloomberg Radio Good morning from that I'm Guy Johnson and from Berlin I'm Matt Miller You're listening to daybreak Europe on London d.a.b. Digital radio events in Barcelona of the last 24 hours suddenly focusing minds in the markets the market is by and large pretty use now to terrorism events and largely as a result has discounted the Nevertheless bustling to represents an interesting points it is a huge tourism hub and as a result of which we're seeing this warning.