Good morning, everybody. You are watching the pulse. Im guy johnson. Im francine lacqua. We are just getting some breaking data. The services p. M. I. Figures falling for october to 62. 3. What we were estimating is a 62. 4. Pretty much in line with expectsations. We had an encouraging figure from italy. The surprise of the day. P. M. I. Was better than expected. We were expecting a can traction. The number for the whole of the euro area an area of grips at the moment by the debate that seems to be raging within the e. C. B. Were waiting to see what the meeting looks like tomorrow. The news yesterday talking took into account fact that maybe we have a significant refor mario draghi to deal with. Well talk about that issue later on. A revelt about his transparency about his speech. Nevertheless a significant Political Development if you can talk about politics within the e. C. B. Lets take our politics in a different term. Gripping westminster the last couple of weeks if not months. Mig
Cranny. A good morning to you. A hawkish tone, wasnt it . Fed member sing borrowing costs have to be raised sooner than had been anticipated if the labor market persists. Everything in this world has a caveat. Define the many and the few in the variations in between so lets get to it. What are we talking about . These are the minutes and they came out, some participants were increasingly uncomfortable with the Forward Guidance on keeping the benchmark rate low for a considerable time. Than half butless more than a few. Just to be clear. Less than half, more than a few. Therehat says is was one dissent. The voices are growing. We are getting ready for another vote. That is what that says to me. The dollar storming ahead. Participants said they may have to raise rowing costs sooner than they had anticipated. A lot of the data is converting toward their objectives. It might become appropriate to begin removing Monetary Policy accommodation sooner than they had currently anticipated. His i
And access for the greeks . And to the u. K. And what is on the board. Barclays is down 1. 6 . I will have something later from Anthony Jenkins. Probability that profitability is up and beat estimates. They made bigger provisions on Foreign Exchange. 750 Million Pounds of provisions in the fourth quarter. During the conversation jenkins could not or would not you said yes to may Reasonable Estimates and said they were legally binding to do that. They didnt go with other institutions with summative regulators and of when some of the regulators and some of the banks. Was it a missed opportunity . That is the question. In terms of the rest of the market currencies, you mention the aussie dollar a its absolutely on a rip. And rallied 1 at one juncture. House prices are up 14 year over year. Reasons why they have not lowered the rate for as they may need to cut rates at another date. One of our most accurate forecasters suggested in the Third Quarter you are going to see raise up 1. 5 for t
As well and europe moderately in the red as asia does retreat from the big gains yesterday. We have hit dow 16,000 and s p 1,800. But then those comments from carl icahn yesterday spoiled the party a bit. There could be an announcement this morning involving that 13 billion settlement between the department of justice and jpmorgan chase. If and when, well fill you in. More problems for tesla as the automaker is the subject of a formal government probe involving fires in the model s. The dow hit 16,000, the s p 1,800 yesterday. Both closed below those levels after carl icahn expressed concerns about current valuations, saying that stocks, in his words, could face a big drop. Jim, the story for retail in the Fourth Quarter is going to be price competition and margin pressure . I think companies mentioning price competition, best buy, contrast Urban Outfitters last night, contrast that with home depot and dicks where theyre not talking about that. I was talking with john donahoe yesterday
We are live from bloombergs European Headquarters in london. Fax coming up, taking on the transformers. We check out the Wearable Technology that gives you superhuman strength. Italian fashionistas invade london. Valentino tells us that is where the money is. It is the business that makes more money. Quite a tan. A lufthansa is bracing for three day pilot strike kicking off today that will see canceled a vast majority of flights. The airline is calling it the most severe in its history. David tweed joins us from frankfurt. Talk us through the disruption. Destruction taking place on two levels. One is the level of the operations. 3800 flights are going to be canceled over the next three days. That includes cargo as well. Wings,so includes german a subsidiary here in germany. As you mentioned, 425,000 passengers have seen that their travel has been disrupted. That is the operational side. The other side is what it is going to do to the bottom line of lufthansa. Lufthansa earlier today co