4000 jobs worldwide. Good morning, everyone. This is bloomberg surveillance. I am Francine Lacqua here in london. We are getting data out of italy. A bit better than expected. Is worse than expected, not better than expected. Shrinking 5. 4 in the first quarter, also after it was revised from a 4. 7 contraction before. That is having an impact on the stocks, if you look at european stocks, they are down to 1. 3 , and if you look at u. S. Treasury yields, 0. 6 . You what is going on, the crude oil with the biggest advance on record. President trump has said u. S. Policy measures on beijings move on hong kong. Chinas crackdown as trumps friend to retaliate have further escalated tensions. For more on all of this, we are joined by our chief asia economics correspondent, and the koran. Enda curran. Enda, what are we expecting trump to do . Quiteit could be significant for hong kong, beijing, because the president has a range of penalties to choose from. He could impose sanctions against in
Let us quickly check on the markets. Quite a lot going on. I am looking at the stoxx 600 in europe which is gaining a touch on the backs of gains in Energy Companies and a bullish outlook from one of the sectors bellwether. Looking at the dollar. And the fed and what we will hear from powell. Therude oil including impact of the opec meeting. We need to wait a little more to see how long we will cut production. A lineup our lineup today is looking pretty good. We feature some of the top names in banking and economics including Tidjane Thiam. We speak strategy and outlook on the Global Economy. And jim oneill. He speaks u. K. And emerging markets. Later, we will also speak with John Studzinski from blackstone. Let us get straight to the bloomberg first word news. Nejra in the u. S. , the Senate Tax Bill is headed for a debate. Should it pass, Republican Leaders will have to hammer out a compromise. Two republican members of the senate what your say they may not agree to vote the measure
Independence and we are live for the tory party conference. We also have an allstar guest lined up, john fraher. Ellon we speak to jim mal on his new book. We are live in moscow, where john fraher will leave a Panel Discussion with Vladimir Putin. In the meantime, we have a packed data check. The dollar is slipping. Global stocks seem to be a little bit mixed. What all to do with investors are trying to figure out, who the next fed chair will be. We understand the president has a shortlist of candidates, but they all have very different policy agendas. You have some hawks, you have some doves and they are trying to figure out the most likely will get it. I am also looking at spain. Stocks are resuming their decline after the king criticized the catalonian separatists for unaccountable disloyalty. And if you look at spain, the nations bond yields are rising. In the meantime, we are getting breaking news out of the eurozone. Pmi is rising a touch more than expected. Predicted a rise were
The future for the banking world and the political escape. The exclusive conversation at 9 30 a. M. London time. In the meantime, lets check on your markets. This is what i am seeing. A lot of the talk will be on burberry after the company put out an announcement that maybe was interpreted in the markets. They didnt see anything worth buying the stock. It is down here in europe. The european stocks taking their cue from quite a volatile session in asian markets. The dollar flat. Treasuries flat as trump challenges china over unfair trade practices. Ere is nejra cehic nejra in the u. S. , republicans on the house ways and Means Committee ames to aims to release their tax reform bill later today. Speaking exclusively to bloomberg, Steve Mnuchin stressed how crucial getting tax reform through is to the white house. This is the president s most important domestic agenda item. We are going to get this passed. The objective is to get it to the president s desk in december. Nejra the uks gove
I had coffee this morning. So, you know, thats my worry. I dont know what i drank. Reporter at around 8 a. M. A cal water operator noticed someone cut the locks on the gate and on one of the 250,000 gallon water tanks. He found graffiti and possible tampering with the venting system. Its a very heavy system. We dont think there was any branch, but out of an abundance of caution were telling our residents not to drink the water in the Sunshine Gardens area. Reporter cal water took initial water samples. Color ridge, p chlorine, ph turbidity and temperature results are all normal. Reporter but he wont know the results of more extensive tests till saturday afternoon. So the water it was is distributing free bottled water at its center on chestnut and commercial avenue. Residents lined up to load up. Ended up throwing half of my dinner weight. Reporter oh, no. You just cooked . Well away. Reporter oh, no. You just cooked . Well, the rice, i wouldnt take a chance. Reporter colma police are