The u. K. Chancellors at the detailed plans to cut 12 billion pounds off of welfare spending as he delivers the first fully conservative budget in nearly 20 years. Caroline i am caroline hyde. Ryan i am ryan chilcote. It is 1 00 p. M. In hong kong. Caroline chinas benchmark index has seen its biggest intraday fall in years, plunging 1. 8 . Thats amid a continuing route, leaving only 43 of the entire stock market frozen. This is a day after hong kong and chinese shares entered a bear market. Ryan shares on the shanghai composite have plunged by ron 30 this year since the peak about a month ago. David english is in hong kong where the hang seng index has also plummeted. David . David a very good morning to you guys. It was a very eventful morning session, and right now its 1 00 p. M. In hong kong, and we are just getting underway. Just to recap what has happened. About our before the Chinese Market opened, you had this flurry of headlines Chinese Companies announcing that their shares ar
Shadow brexit secretary, the portuguese finance minister, and a Brexit Committee member. The Vice President of the European Commission also joins us a little later on. The four we get the brussels, lets get straight to the bloomberg first word news. Heres nejra cehic. Nejra President Trump will be briefed later on various ways to implement comprehensive tax code changes. He will be presented with possible changes i officials including gary cohn. That is according to people familiar with the meeting. French president ial candidate Francois Fillons wife penelope has been charged in the fake jobs probe according to reports by french Media Outlets citing unidentified judicial sources. Her husband has been charged with graft, which he denies. Calls to an olivia fillons lawyer were not immediately returned. Blackrock is said to be shaking up its unit by cutting jobs, reorganizing funds, and lowering fees according to a person familiar with the matter. The revamp moves money into cheaper offe
Today including alibabas big debut. Shares begin trading on the New York Stock Exchange today. Is that investment worth the risk . That is the big story, not our biggest story because our biggest story is what is happening in scotland. This morning, Prime Minister David Cameron is promising sweeping changes on how the uks government the u. K. Is governed after scotland voted to stay as part of the United Kingdom. Cameron says he will deliver on devolutions. The u. K. Must be able to vote on issues that affect them. I have long believed that a crucial part missing from this discussion is england. We have heard the voice of scotland and now the voices of england must also be heard. We are covering all the angles on this vote. Anna edwards is in edinburgh. Jonathan ferro on the trading floor. Caroline hyde here in the studio. Anna, lets start with you in edinburgh. Thanks very much. You heard David Cameron talking about hearing the english voice. Lets hear the scottish voice first. We sta
Its start with you, emily, because you will imitate you will interview jack ma later this morning . I cant wait. Do when he do we know any more about him . He certainly showed his personality. He has a lot of charisma and is a funny guy. We saw that come out of the roadshow. He reiterated customers first and employees second and investors third which has investors saying why should i give you my money. His answer to that is what that when alibaba went through hard times and this is their second time going public but it did not work out, this is their second chance. Time and left at that customers stuck around and thats what customers come first to him. I want to know what happens next. He stepped down as ceo a few years ago and has other interests like a private equity brand withtqai chi jet li. I am curious as to know how involved he will be. Like it underscores a little bit of this gathering comfort among u. S. Global investors. And a big Chinese Company certainly, there have been ma