Authority Andrew Bailey is named as the next governor of the bank of england. Without question, he is the right person to lead the bank as we forge a new future outside the eu and level up across our great country. Trains and road travel is severely disrupted on one of the busiest travel days of the year gatwick services are affected and theres disruption in devon and cornwall. Australias pm apologises for going on holiday while the countrys bushfire crisis worsens , fire continues to ravage parts of the country. And the us moves closer to putting its astronauts back into orbit as boeing prepares to launch its new starliner capsule. Good morning and welcome to bbc news live from westminster. Mps will vote on the Prime Ministers brexit plan this afternoon which will take the uk out of the eu by the end of january. Its thought the Withdrawal Agreement bill will easily clear its second reading in the house of commons with the conservatives having won an 80 seat majority at last weeks gene
The next governor of the bank of england. He is no stranger, 30 years of experience in a range of positions. Francine lacqua joining me now to take over hosting bloomberg surveillance. About his experience of Monetary Policy, the economics of the u. K. , and on the regulatory side, and reflecting on the brexit experience, even if many people point out a lack of Monetary Policy setting experience. In terms of market reaction, we do not expect a lot of reaction. Our colleague was pointing out he was widely expected to be the next governor of the bank of england. Move on the ftse 100, equity markets not moving far. We do have confirmation on who the next governor of the bank of england will be, and mark carney has extended his term to the middle of march. Francine thank you so much. Welcome to bloomberg surveillance. Governor of the bank of england will stay until march 15. Andrew bailey is to succeed mark carney. Bailey spent three decades at the bank of england as Deputy Governor. Lets
Nejra welcome to daybreak europe. Lets get a look of the markets. Another day, another record for the s p 500 with communication and tech stocks leading the gains. The s p 500 riding rising above 3200 ever. 3200 for the first times ever. The 10 year yields steady. Still above that 190 handle. Could we push towards 2 on the optimism over u. S. China trade. Atexpect a deal to be inked the start of next year. Lets switch over the board. Yesterday, we touched 31 basis points, the steepest since october 2018 on the 210. That reflects the view in the market that we see a little bit more today. Recession fears receding for 2020. We speak to socgen this hour. They have gloomy forecasts out there. No deal risk has been coming to the top of investor minds again. Oil also heading for a weekly gain on optimism around u. S. China trade even if we are flat today. , andrew of england bailey has been chosen to succeed carney as governor. The chancellor could reveal the appointment later today. Governo
Underwater motorways heavy rain and floods put the brakes on the christmas getaway. Buckingham palace confirms that the duke of edinburch is in hospital. Coming up on afternoon live all the sport with connie. Waiting for announcement from arsenal . Were waiting for confirmation that mikel arteta is the new arsenal manager. Up until this week he was assistant coach to Pep Guardiola at Manchester City and in the last hour or so hes confirmed that arteta has left the club and hes in london. Chris has all the weather parts of the country flooded . We will be looking at how much rain has fallen over the last couple of days, bringing flooding seems like these, but also crucially as the Christmas Holiday getaway gets under way, we will be looking at what the weather has in store over the next few days. Thanks, chris. Also coming up. Three, two, one and lift off a new era in human space flight. Could this capsule one day take paying passengers into space . Hello, everyone this is afternoon liv
To repay your trust, and to deliver on your priorities with a parliament that works for you. A very different story for labour as Jeremy Corbyn leads his party to its worst election performance since the 1930s. He says he will stand down but not yet. The responsible thing to do is not to walk away from the whole thing and i wont do that. I will stay here until there has been somebody elected to succeed me and then i will step down at that point. Mrchairman, there are 23 ayes and 17 noes. The article is agreed to. In other news one step closer to impeaching the president . A committee in the Us Congress Approves two charges against donald trump. Un investigators accuse chile of torture, ill treatment and Sexual Violence against protesters. And the search resumes for two remaining bodies following the volcanic eruption in new zealand. The british Prime Minister, Boris Johnson, has hailed the conservatives resounding election victory as extraordinary and urged people across the uk to heal