Beijings economy. He says the world has entered a transformation period but warns against the closed domestic cycle. Watching wall street, Goldman Sachs, bank of america and wells fargo report later today. This after j. P. Morgan and city shares fall despite surprising to the upside. Very warm welcome to our viewers just waking up. Manus is off this week. A much do holiday and very welldeserved. The pandemic really was maines front and center. We have the latest projections from the imf, warnings from the u. K. Scientific advisor. The netherlands entering a partial lockdown. The pause from eli lilly and Johnson Johnson on their latest medical trials serve as a stark reminder that the pandemic is a perennial Market Driver even amongst the uncertainty of brexit, the tugofwar over u. S. Stimulus, and the noise surrounding the u. S. President ial election which today is now 20 days away. Against that backdrop, the markets this morning a little softer in asia. Xi jinping speaking in shenzhe
I wonder if you could go back to that and mention why it is a scenario rather than a forecast, is not really a worstcase or how much of a worstcase is it. And if we are really looking to learn and to manage these scenarios, do we not need to be more robust about saying what the worst case actually is . First, the question of a scenario versus a forecast, the , the point applies to both committees. Forecastw, one makes a when one can take a view of the probability distribution of district outcomes around that forecast. Forecastmal to make a and say this is our best collective judgment, and then to publish a range of outcomes around that, and then for the financial policy committee, to look at the less likely outcomes , whereas the Monetary Policy except the central one. I think the judgment of both committees was that this pandemic, the weight is playing to the World Economy and the u. K. Economy, and the Public Health measures to contain it through time and the chance of a second or th
Looks to defend against political unrest and the coronavirus. The main feature is a oneoff cash payment. Manus breaking news from one of the worlds biggest miners. The rio tinto, underlying 22. 2 billion, a beat on the market estimate. The underlying profit, the core number is also a beat, 10. 37 atlion on a number estimated 10. 2. In terms of dividends, 6. 2 billion, they are pledging zero emissions by 2015. On the capex, they say they will spend 5. 49. They will report a final ordinary dividend of 3. 7 billion. Those are the top line numbers as we got iron ore grumbling for a Third Straight day. Market, soe in that in terms of the rest of the dividends, it is going to be that that really drives the market this morning. Hes got some numbers from ed echo. What weve got is a 600 million Share Buyback announcement and the fouryear Dividend Per Share coming in at 2. 5 job 2. 5 swiss francs. Share buybackion is something to note. Adecco is unlikely to buck a negative staffing trend so we w
Financial sector to its part in fighting lemon change. Climate change. A lot of the focus is on trade or what will happen between the u. S. And china. Gold, always a good litmus test for risk. We can see the yield at 1. 85. Stocks gaining 0. 4 . A lot of focus is on earnings. Loose of ex conversation with the commerzbank she chief Financial Officer. Dont miss that conversation after 10 30 a. M. London time. First, lets get straight to bloomberg first word news. In the u. K. , the first cabinet resignation during an Election Campaign in a century. Quit after aretary report that he knew about a former aides role in the collapse of a rape trial. Ae labour party also suffered blow with deputy leader tom watson announcing he will leave politics after 35 years. He has long clashed with Jeremy Corbyn over the direction of the party. Willank of england probably keep rates on hold as brexit continues to plague the economy. It is expected to cut forecasts. Be nexttion is who will to lead the ban
Story for goldman sachs. Turn tonk of americas report numbers. Manus a warm welcome to bloomberg daybreak europe. Thing, wenteresting are talking the agony and ecstasy of brexit and pound trading. Mark carney has forced the banks into a neutral position. Banks are in a neutral fx position on sterling. For an overthecounter, unregulated market. I find that interesting. Nejra very. Perhaps we are hearing about the concept of a deal. What does that mean for Super Saturday and the pound . I love that phrase, agony and ecstasy a pound trading. Carrie lam is still giving her annual policy address by prerecorded video. Being interrupted a number of times with an legislative council. , the ability to requisition 700 hectors hectacres of land. Rush is narrowing their sales growth to the upper band of the prior guidance. They are going to increase the dividend. Their sales and Beat Estimates so it is about giving us a full year sales growth to the upper level of the prior guidance, narrowing in