Pelosi shifting the deadline to tuesday. After gdp misses, Industrial Production and retail sales accelerate. And a pair of losses on a bloomberg exclusive as the u. K. Could rewrite its lawbreaking brexit bill, a move that would revive talks with the eu. It comes after a downgrade from moodys. Its a barnstorming beat for phillips. 6 00 a. M. In london, 7 00 a. M. In amsterdam. The adjusted ebitda is up. Free cash flow will be above 2 billion by 2025 is the guidance. Phillips targets accelerated growth and higher profitability. September where they cut their guidance because the u. S. Slashed the ventilator contract by 650 million. This is going to be something which bolsters it. They are targeting comparable sales growth of 5. 6 . We will put those questions to the ceo, who joins us in just under 28 minutes. Management. Et nnmarie the standout is the new money inflows. They say considerably they have risen in the Third Quarter. Under management are up 3 . We know the ceo has been tryi
Welcome to bloomberg surveillance. Happy monday. I am Francine Lacqua here in london. Toin, a very busy week, on the u. S. Election and about 16 days. Looking at futures, the hope is that we will get stimulus, and i am looking at treasuries. The pound already up after reports that officials were prepared to water down controversial brexit legislation and a move that could revive failing talks with the European Union. Also, the yuan seann gains. Now lets get to the bloomberg first word news in london with leighann gerrans. Hi, leighann. Leighann good morning, francine. Nancy pelosi says a preelection is possible, but she has set a tuesday deadline for making more headway with the white house. President trump is confident he can persuade the republicans to back a good deal, renewing his offer to go beyond the dollar amount that is now on the table. Now china has passed a new law to restrict sensitive exports to protect national security. It provides a framework for beijing to fight back
The last few moments on this headline from larry kudlow, the president s top economic adviser saying that the president now wants to do a deal on stimulus lets go to washington and get filled in a little more. Scott, the president tweeted on the state of the discussions over another Coronavirus Relief package. He said that the negotiations are moving along he encourages the negotiators to go big this as you mentioned white house economic adviser larry kudlow saying that there has been a plan that president signed off on. It is relatively broad based now what we know is that House Speaker nancy pelosi and the treasury secretary are supposed to talk again sometime this afternoon. They had been in almost Constant Contact almost daily contact and we know that president said he is willing to go beyond ppp, direct checks and aid to the air Monica Lewinsky and do something bigger exactly how big . Thats what the negotiators will be talking about, im sure, during the phone call later on today.
Im Francine Lacqua in london. European stocks edging higher. U. S. Futures pinning hopes on the american stimulus package. The dollar is slipping. I am also looking at treasuries pretty much steady. Texas crude oil steady at 40 a barrel. Lets get to the first word news. In the u. S. House democrats have started drafting a new stim in this proposal of roughly 2. 4 trillion. The plan could get passed by the house next week. While smaller than the package in may, it is larger than what Senate Republicans say they can accept. President trump has excepted he will go as high as 1. 5 trillion. Your Governor Andrew Cuomo says he does not trust the Trump Administration over a vaccine. He vows the state will independently review anything authorized by the federal government. Polls show a growing mistrust over a vaccine. New york may require travelers from europe to abide by its 14 day quarantine rule. In the u. K. , rebel numbers of the conservative party are threatening to seize the power of pa
As its new leader that makes him all but certain to replace a lobby as Prime Minister hes resigning jujube Health Issues will have a crisis on his hands. Yoshi he does sue god knows whats in store for him the 71 year old had been so obvious right hand man for over a decade serving the former Prime Minister as government Spokes Person it is now up to him to lead the country which finds itself in crisis amid the ongoing covert 19 pandemic. In the 2nd quarter japans Gross Domestic Product dropped by almost a 3rd private consumption a pillar of the economy worth about half of its g. D. P. Fell by 8 percent experts were down by almost a 5th. Experts are not expecting new economic ideas from your sheehy disregard he has already announced he would stand by his predecessors concept of aba nomics which has loosened Monetary Policy and fiscal stimulus through government spending. In the midst of the corona crisis the Economic Situation around the world is dire the results over the may june perio