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First rate cut expected. We will bring you the comments of Andrew Bailey. And the chip designer arm faces a disappointing forecast with fears of slowdown in a. I. Demand welcome to street signs. We open with the spanish banking saga bbva is making a hostile bid for the rifleval with the deal rejed by sabadell board. The Spanish Government says it opposes the move and the proposed merger could create a financial instability. The deal with the two businesses makes sense to bbva and it is an attractive deal. We heard from the ceo yesterday who said there are challenges to domestic consolidation in the Banking Sector this is difficult to make a friendly transaction if you are in a position to be a 50 million euro market cap. This kind of transaction usually goes through a tender offer and probably more style than friendly that is how you do a deal. That is the reason p why it is o easy to do a consolidation this is something that is not so easy to do thats also what you have to remember at

Rate cutSpanish governmentBanking sectorEuro marketPoint bankMarket capEquity analystMorning starProfit marginsCommodity pricesInternational competitionBank englandHigher oilOil gasNet profitYear company