Bad form of ranking. Anna oh yen, high confidence. Cinnamon sentiment improves for the First Time Since june last year. What does it mean for the stimulus . Johnson johnson ins discussions for a potential deal, leaving the door open for another better. Reports say they are now in talks. A very warm welcome to bloomberg daybreak europe. We are here in london. Im anna edwards. Breaking news coming through on the car industry in relation to china. China is set to be planning a 7. 5 small engine car pat car tax through 2017. China has said the plan extending the auto sales tax incentive to 2017. China is set to set a small engine car tax at 7. 5 and cars at 5 . We will see if that has any impact on european carmakers are other global Car Manufacturers exposed to smaller in of the car industry. Lets look at the risk radar and show you where we are on this fed day of all days. Expecting a decision later on from the fomc and the wide expectation market that we will see a hike. China and brexi
Over the next 12 months. Hildebrand is former president of the Swiss National bank. We will get his Investment Outlook for 2017. After a year of sluggish growth, low Interest Rates and mounting regulatory pressure. Could the worst be over for the Banking Industry . We asked the president of the bank of the institute of International Finance. And we will interview the chairman of europes largest bank, hsbc. At your markets. This is a picture of european stocks retreating a touch before the fed decision later this afternoon. It seems that caution is prevailing on the markets. This is what we are seeing, european stocks dropping. Crude also retreating on Industry Data showing stockpiles actually increased. Lets get to the first word news. Here is nejra cehic. Nejra Goldman Trading at a 10 year low ahead of the hotly anticipated Interest Rate decision. Investors are expecting policy makers led by janet yellen the Central Banks first type hike of the year, with records for the dow close to
Exclusive. Some of the biggest names in bank arrange at the global summit to rethink banking models. No small topic on the agenda today . Yeah, the future of finance and there are some big, big questions. We talked a little bit about credit provision. When you compare and contrast what happens heres have in the United States. You look at the United States, some of the big fines imposed and there is a risk of regulatory overreach. Are these banks becoming overwhelmed . Something that doug also flint talked about recently Douglas Flint talked about. Ill be talking with him and then i have Andreas Dombret of the bunde bank. Well talk about his role on the supervisory mechanism. We have to be clear about this. What are the difficulties here in the eurozone . I know he has something to say on what he calls reform fatigue. Look at for that one, anna. Interesting when you consider just how much banks are spending and should be spending on regulation when we have witnessed some enormous fines
We have also got the overall number at 108. 6. That was forecast at 108. 4. Thats the Business Sentiment index and the Business Expectations. Lets have a look for that has come in at 103. 5. The forecast was 104. 4. So lets just have a look. Overall the expectations just below forecast the Business Sentiment and Current Conditions just ahead of forecasts. Of course this follows yesterdays pmi where germanys came in at 41. 9 down from 52. 8. So mixed set of data coming out of germany over the last couple of days. We saw the euro dollar there bouncing in fact in todays session. Lets get a comment. He is chief economist. Good morning to you. So slight contrast to yesterdays data but still mixed this morning. This ifo sentiment. A bit mixed but not very much. If you look at it the key thing is that Current Conditions have improved a lot and then of course expectations where people are asked whether it can get much better than what the currency is are no longer as stellar as they used to be