Anna welcome to bloomberg daybreak europe. Where in the city of london. Manus its super thursday for the bank of england. Frances number three bank with every other bank in france which is delivering its numbers. Credit agricole worst numbers, the market predicted 700 702 million euros. Delivering stable revenues in 2017. Its the mortgage fees that are helping the banks. Credit agricole saying net income quadrupled in the First Quarter. They have the italian business trying to expand. It looks like the cfo expects stability. Trading revenue rose by 17 on fixed income money. That joins the overall theme that we had. Thats the story in parts of the banking sector. Also getting numbers from union credit. Firstquarter net income 907 million euros, a above the estimate of 586. 7 million. Interesting reading from my builterg colleagues, they it as the quarter where the ceo might need to prove profitability. According to the estimates, he seems to done just that. , italystalys bank biggest ba
Keene in london. Tom not the chaos of yesterday. Still overnight the news flows. Historic. Stephanie baker will join us. Weve got a lot of good, thoughtful op eds, including one by Mike Bloomberg that will give some color to the emotion going on in the states. Markets are quite. Quiet. Governor carney has very stable markets. Guy he does. There are rumors doing the rounds that maybe we have got not one but two people voting for a rate hike. Tom dissenters. Guy well talk about that. Lets look at the volatility numbers. This is what were looking at. 79, alook at brent, 50. Lift in oil. Euro, little bit weaker dollar strength. Guy weve got some numbers coming out from the e. U. Inflation forecast. 2018, the headline rate. The ecbs target is at or near 2 . Its raising is 2017 euro area gdp forecast saying risks are more balance. Mirroring what we are getting from mariota draghi. He was riled in the netherlands. Next meetingin the to get to a much more neutral set of language. Tom certainly
Interests 24 hours to save the National Health service. German utilities have trade 4 higher after the countrys Constitutional Court declares a Nuclear Fuel Tax illegal. Good morning, everyone. Its wednesday. Glad youre with us once again. Lets take you straight to the European Equity markets this morning. The ftse is up 0. 21. The cac 40 is up by 1 3 of 1 . Lets take you to the sectors. What youre seeing is banks are doing quite well. Despite spain, banks up 1. 3 . Chemicals down by. 3 . Santander is taking over Banco Popular. Theyre buying it for the symbolic price of 1 euro. Santander says the popular brand will completely disappear in the deal. Pimlico is also wrapped up in this deal. Theyre the largest holder of the banks riskiest debt with 279 million euros. Karen has been breaking the story all morning long. To me, karen, it seems like this is a Banco Popular specific story. It didnt send shock waves through the industry, right . It is a specific story but it talks about bank re
Negotiations and look at where the new government goes from here with our Business Editor, simonjack. We usually ask you a twitter question, but today the founder of amazon has one for you what should he do with all his money . Jeff bezos has posted a request for ideas from The Public For Philanthropy Inspiration what advice would you give . Just use the hashtag bbcbizlive. Good to have you with us on Business Live. We start in greece, which has edged back from the brink of financial collapse once again. Late on thursday after months of wrangling European Finance ministers, together with the International Monetary fund, finally agreed to give athens its latest slice of bailout money. And theres a hint it could get some relief from its crippling Debt Mountain next year. Lets show you the details. Greece will finally get this 8. 5 billion euros part of an 86 Billion Euro bailout plan agreed in 2015. It is the third it has had. It will come just in time, as greece faces 7. 3 billion euros
Wages are getting squeezed, that is a problem, but we do have an upside inflation issue and that will be something we need to dig into. Im trying to look at the details who it was. Less thane only have normal membership of the bank of england mpc. Voting already effectively for a hike, now it looks like others will vote that way as well. Is an upside story, rather than a downside story. Christian Ian Mccafferty has been there before. Saunders to the mpc, relatively new compared to the rest of the mpc. Talk about three voting members running their hand up for an Interest Rate hike, when the politics have become even murkier. Those hawks as well, they are independent members, which is another fact you have to think about, as well. That is a factor, too. The governor of the bank of england will be speaking this evening, across the road from his usual venue and of course we have the chancellor coming through. There is extreme clinical uncertainty in the u. K. Right now, we are uncertain of