Financial services is integral to our everyday lives and integral to the modern economy. At least in the western world and developing world. Every modern economy relies on Financial Services. Its also in many respects a good kind of like the digital section that we dont often think about how it crosses borders. We just assume when we go to atms, we will take money out of the bank and assume we have that same service when were on vacation in other countries as well. There is a infrastructure in place that supports a very complicated global web of services, but its not one that we engage with in everyday discussions, but its a very important one. The Financial Services is incredibly important industry and not only because of everyday lives, but simply because of the size of goods and services that cross across natural borders. Its also one that i think in recent years, especial yet last decade, has become much more important to the Global Political discussion. How do you regulate this in
To clarify its independence. We are live in madrid. Manus and bmw is said to be working on a deal with manufacturing the iconic many in japan for the first time the iconic mini in japan for the first time. Anna a very warm welcome, this is bloomberg daybreak europe. Here in the city of london, im anna edwards. Manus we have some great guess for you, weve got Jim Mccaughan , he joins us for the next hour. Anna and Paul Venables will be here for his first interview up the day, talking to us after the Recruitment Company publishes its firstquarter results. Always excitement in the world of hiring and staffing. Manus in the meantime, the fed might be desperately seeking inflation as opposed to watching the movie, but the markets are desperately wondering what happens next. We put together a huge index, nobel you cannot see, the economist tadeo says the market is napping. Asiant back to 1997, the financial crisis, the dotcom bubble. The moving average of the skewed index, and that measures
David in washington, today is the day for health care. When the house representatives are slated for a vote to repeal and replace obamacare. For all the details we go to Kevin Cirilli. Kevin, they are going to have a vote today. Do they have the votes . They think they do but who knows . Paul ryan has said he is not going to bring a vote unless he has the votes. Thatndications suggest after yesterdays introduction of an amendment by representative upton which would be in a billion dollar increase to preexisting condition clauses over a fiveyear period , that will be enough to win over moderates. Concerns show that whatever bill they get, it hasnt been scored and it could radically change once it gets to the senate. David last time we played through this, we had a lot of problems politically because as many as 24 million americans would lose their Health Care Coverage. How many will this time . There is no way to know entirely just how much but the concerns amongst the people im talking
Anna welcome everybody to bloomberg daybreak europe. I am anna edwards. Lets get straight to the blank breaking news. We will talk to the management of these companies. We have numbers coming in. This is the steel company, now much more diversified industrial group. They are raising their even forecast to 1. 48 billion. Raises. Sted ebit raising their profit outlook after selling their brazilian plant. Agreed to sell their brazilian steel plant, and it is making the transformation from steel to diversified groups. Around see what they do their american unit. There is the expectation they will exit the business. There is talks they will transfer the european assets. We will get an update on all of those matters when we speak to the management. Inwill talk with their cfo 45 minutes time. Lets get to other breaking news. Sticking with germany, this is the munichbased insurance company. We are getting numbers. Or solvency ratio is 212 . Euros. Lows of 21 billion operating profit is comes c
Interests 24 hours to save the National Health service. German utilities have trade 4 higher after the countrys Constitutional Court declares a Nuclear Fuel Tax illegal. Good morning, everyone. Its wednesday. Glad youre with us once again. Lets take you straight to the European Equity markets this morning. The ftse is up 0. 21. The cac 40 is up by 1 3 of 1 . Lets take you to the sectors. What youre seeing is banks are doing quite well. Despite spain, banks up 1. 3 . Chemicals down by. 3 . Santander is taking over Banco Popular. Theyre buying it for the symbolic price of 1 euro. Santander says the popular brand will completely disappear in the deal. Pimlico is also wrapped up in this deal. Theyre the largest holder of the banks riskiest debt with 279 million euros. Karen has been breaking the story all morning long. To me, karen, it seems like this is a Banco Popular specific story. It didnt send shock waves through the industry, right . It is a specific story but it talks about bank re