Reform. I think it is fair. It is fair for millions of women, and four children. I dont underestimate the complexity of the reform. If i were to try to do this, in conclusion, this is what i would say. We are gradually changing the Pension System to build a stronger payasyougo system with synthesis, because every the earned will count, and entitlement, and it will be forever because the rules will be fair for everyone, and strong solidarity will protect the weakest. At the same time, we are also going to achieve social progress that will protect the pensions of women, families. Solidarityress the with farmers and small tradesmen. We will be upgrading the compensation for teachers, researchers. We will integrate the bonuses of civil servants. Of we will extend the notion arduous work to caregivers and hospitals. It will be a simpler, fairer allowingased on ourselves the time, gradually putting it into the special scheme. It is a very largescale change, but it is a change that will be ca
Relationship the eu . What brussels is looking for. Will get some clarity . Markets seeing this overshadowedbeing by that chinese trade statement that is about to come out. Time we arehe first going to hear directly from china. The backstory is this morning thinking we had a deal on china. There was consensus the u. S. And china had agreed on something. We saw markets rally. The president tweeted something that made markets hesitate. If we look, we have a flat s p 500. T is up the other thing that is happening is the house judiciary theittee is voting on articles of impeachment. At onceng all happening in the opening our of the new york session. Back to the earlier story and the brexit delivery pipe Boris Johnson. That has the dollar index through 97. At 189. Ear yield relatively stable. Showing us, which is there is less volatility. In the present moment there is likely to be a lot of jitters. It is lower. Guy what we have seen overnight is a clear reaction to the victory by the torie
It was above 59 at session highs come about right now just below that once again. The worst performer in the s p 500 right now, brownforman, the maker of jack daniels, among other spirits. Guy in europe, the picture fairly mixed. We been watching equity markets throughout the week be buffeted by the trade story, and we will continue to watch that. European stocks dipping over the last couple of hours. Lets go to vienna, where delegates are telling Bloomberg News that an Opec Committee is recommending an additional cut of 500,000 barrels a day. Bloomberg spoke exclusively to nigerias oil minister, who said his country would agree to more cuts if needed. It would be a tough decision, but we will have to cut, yes, if that is the position. Joining us from vienna, bloombergs Annmarie Hordern. What effects will these cuts have . Cuts wouldell, these take it from 1. 2 to 1. 7. The big question is distribution. How will this be distributed . Thats what the Russian Energy minister alluded to. T
A move that would mark a stark change for the owner of craft and burger king. Nejra welcome to daybreak europe. We are coming to the tail end of earnings season. We have numbers breaking from abm amro. The thirdquarter operating income comes in at 2. 1 billion euros. The estimate was 2. 13. Buts a little soft thirdquarter operating income pretty much in line. The thirdquarter profit income ratio, 59. 4 . Comments coming through here is that the timing of the completion of the dutch probe is uncertain. A few things to digest. We will speak to their cfo, coming up. To the markets. We are seeing a down day in asia. We heard a lot from President Trump yesterday, speaking about trade and the fed, comments we could see a trade deal. If we dont have a tariff hike. We are seeing risk off in equity markets. The hang seng leading declines with a Third Straight day of protest in hong kong. Volatility rising in that index as well. The kiwi is jumping the most in nine months. Switch over the board
, not pushing back on the fact ont he will delay tariffs the european auto sector, as people had inspected. We are also seeing continuing weakness in the spanish market. Wait for fed chair powell to address congress, lets bring in Michael Mckee. Yesterdaytting here with me when the present was addressing the Economic Club of new york, and talking about fed chair jay powell and what he should do. Will jay powell just get questions on that today . Michael he may come from both sides, but it is unlikely jay powell will rise to the bait. He will want to stay out of that whole thing. Think the economy is in a good place, and that is partly because of us. This in about these fed appearances is they release the testimony early, so weve already reported it. The bad news is that he didnt say a whole lot. He didnt add to what we know. Basically, his line about the economy is that it is in a favorable place because of the fed cuts. As Monetary Policy operates with a lag, the full effect of adjust