Robust 28 Days Later
for me I said I took away is that these feet is really trying hard to be data dependent so we didn't get the one thing that that we wanted to find out um which is what's going to happen to interest rates in September so we we didn't get any uh any definite signals from the ECB from the from the president um yesterday she said it could be a hike it could be a pause we tried several times to to get her to answer that question uh but but she just wouldn't have it and um what was interesting that that she described inflation as still too high
the Outlook is it will stay there for too long so they are clearly not comfortable yet was was what they see but they have certain indications that inflation is now coming down um maybe even a bit faster than expected and also uh interesting is that they now see uh policy tightening so the those those um a previous uh interest rate hikes and and the one uh yesterday obviously adding to that um they see them reaching and transmitting into the economy into financing conditions those have have deteriorated quite quite big uh quite badly um demand for Learners loans us down so so in that sense they're really seeing progress now okay um in terms of the CPI readings that we get today then on the
inflation Point um France Germany and Spain too actually what are you going to be looking out for Jana yeah so uh the headline figures are in Germany and Spain are expected to slow the core rates is is what really matters um so what what we're going to look at is the drivers of inflation um and and they are changing according to uh Christine Lagarde so external sources energy food those are easing and and we've been seeing that for a while now inflation data domestic price pressures on the other hand are going strong so the services components those that are driven by wage deals so we'll we'll really drill into the data as much as it becomes available Germany um obviously only is the preliminary report so so we won't get um get all the details that we want but as much as they're available we will be looking at at those domestic drivers of inflation and see if there is any easing inside okay yeah I will be bringing those figures on the program later but for now around our ECB reporter thank you so much for joining us on the program this morning now we get second quarter results on natural West at 7am London time and the earnings
statement will be scoured for any details about the future leadership of the bank this after the bus at Peter Flamel resigned over the Nigel farage account closure controversy which led also to the resignation of CEO Alison Rose earlier this week on finance reporter will Shaw joins us now of course you've tracked every twist in this story what are we expecting from the results today um so first of all uh estimates in part by Bloomberg suggests that NatWest is looking at pre and tax profits of around 1.45 billion pounds versus about 1.4 billion pounds a year ago so slightly higher if that if that proves to be correct obviously that's not what people are really interested in what people really want to know about is what's going on with the Nigel farage affair this is the first time that Matt West would have spoken directly to journalists or the public about what's going on up until now it's just been brief statements pushing out pushed out and asking that people are staying or leaving um this will be the first time we probably get to see Paul's weight in the interim
CEO I know people don't really know what he's like so they'll be looking for indications of who he is what he's done elsewhere in his career um and people will be wanting to know what NatWest is planning to do to try and restore trusts after what's opened yeah it's only going through the focus and I mean after your travel resigning us CEO as well and is there still pressure on Harry Davies and her significance as that as chairman I may think there's very mixed messages about Howard Davis at the moment so Andrew Griffith the treasury secretary uh Todd Bloomberg earlier in the week that uh Davis ought to stay um we wish you sooner however after that declined to give Harry Davis his fall back it's a very difficult question for the government who's got 39 stake in in that West on the one hand Howard Davies is very experienced he represents stability they've lost the CEO about West they've lost the CEO of Coots um can they cope with losing another one at the same time he is ultimately responsible for standards and and there's obviously been a really serious failing in standards at bank and when I spoke to Nigel farage yesterday he was saying he'd be
surprised if Harry Davis was still in his position by the end of today end of today okay how damaged is NatWest though after this week I mean as you say the issue around standards how widespread is this sort of worry and the reputational package from that word I think it's very damaged um first of all you have the breach of privacy which is serious in itself but I think what really matters since Alison Rhodes admitting that she went out to the BBC them reaching confidentiality rules about a customers accounts and gave at best incomplete information to the British Broadcasting Corporation let them be in a series of Celtic Communications from the bank during this week no one's really known what's happening next they might argue NatWest might argue that the whole Affair unscores their Progressive values that might help them attract the younger customers and staff But ultimately I think a lot of people feel the whole incident is left about a bad taste no matter it's okay well thank you so much for joining us on the program this morning on details a lot I find out supporter will show we will have those the first half results from that wax before you uh at 7am on the program and we'll have a shop on the market for you next time
we'll see the safest course for that it is one of overkills food in a world where there are massive French shortages and people are dying of starvation I think the Russian action is reprehensible
continues to decline but is still expected to remain too high for too long over Daybreak Europe on Bloomberg Radio Monday 6 30 a.m here London away good morning I'm Caroline Healthcare I'm Stephen Carroll this has been work Daybreak hero okay watching the reaction learning markets to Japan the Tweet to yield curved control from the boj we're expecting of course at half past seven uh the being a j Christopher that's going to be closely watched the Japanese Yen this morning uh half or tenth of one percent and yields also moving significantly uh it says a 10-year yields up as much as 13 basis points for Japanese jgb's also plenty of earnings out this morning oil looks like it's Teddy for a weekly gain although actually down this morning half of one so and goal below uh two thousand dollars uh this morning stock futures are in the red though for Europe is fewer stock City Futures are down three times across Europe
this morning we have the first print of French GDP for the second quarter coming in much stronger than I've been expected 0.5 uh in the quarter on quarter figure a year on year growth that's what I've just been for 0.1 percent of the first of a rate of grades for having action this morning let's go to our top stories the bank of Japan has changed its yield curve controls and a surprise movie the San Marcos swinging the Central Bank Captain's Target for 10 year yields and zero but expanders the range that Wheels can move up to one percent remember three friends correspondent Garfield rail says there's still a lot of questions about how
the Curve will be policed now let's go to work how they decided whether it means they will step in any time they think you're something too sharply higher uh or inappropriately higher it can't better becomes more akin to you know what we've seen on occasions with the currency Market intervention from Japan when it's decided began was getting two week or was getting to work too fast so that's adding a lot of uncertainty about what this is going to do there's a lot of attention on instead of saying in his press
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conference Associated guys one of Garfield's Reynolds and press conference happening at 7 30 a.m London time now Christina Gods is a fading economic outlook for the Euro area the European Central Bank raise interest rates yesterday for ninth time in a row but Lagarde says that September's decision is still undecided we have an open mind as to what the decisions will be in September and in subsequent meetings because this determination Based on data the mind to vary from what from one month to the other PCB president Christine the guard speaking a report about this week from the Central Bank showed demand for loans from companies also plunged by the most not record in the second quarter the attorney group is looking to borrow as much as 750 million dollars to refinance debt taken on for its purchase of
Ambrosius cements last year the dining new Industries has raised 394 million dollars from Barclays in Deutsche Bank for a solar panel project these efforts signal a restoration of investor confidence after us shorts have a Hindenburg and Hughes 80th medani group of corporate wrongdoing in January in the group tonight those allegations wall Street's main regulator is unveiling proposals sent to restrict uh brokerages and money managers that use artificial intelligence to interact with clients the chair of the SEC Gary Gensler says that conflicts of interest can arise when Financial firms adopt the technology what we're trying to do is make sure that the technology aligns with that standard that the technology that can predict about each and every one of us so much about how we might react to a little behavioral prompt or a little nudge
how we might react that they're putting our interest as an investor in the right place and not putting themselves ahead of it you know against it speaking to Blue Book in an exclusive interview it wasn't the only big change announcer the SEC also approved a plan requiring companies to disclose significant cyber security breaches so sorry top stories on the program this morning coming up next on Bloomberg Daybreak Europe why Lebanon is struggling to find a new Central Bank Governor to handle the country's massive Financial challenges as the man who's happened to held the role for 30 years is that to step down our water creation brings us to details next this has been burning
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Edition today on Apple Spotify and everywhere you get your podcasts at Philly goes in jail every day when I was going to work I'm like I gotta get out of here my executive order calls on the FTC we are living non-compete agreements this season on uncommon law we're exploring one of the most expansive Federal Trade Commission proposals in modern history a nationwide ban on non-compete causes non-compete causes can really restrict competition we'll talk to workers who are desperate to take new jobs in their industry over to be blocked by threat of the lawsuit I remember getting Sarah for a decent assist and thinking that this can't be fair how can she get away with this and we'll talk to the business owners who say they depend on these classes to keep their companies afloat when you enter into an agreement There Are Rules join us as we explore the far-reaching economy [Music]
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this new day coming up in the next hour solo piano music that my Mozart I'd like to I'd like unanimous consent to enter into the record a couple of Articles the first is trance is um a gender affirming surgeon speaks at Jacob's School event dated June 9th 2023. and that article um we saw a clip earlier of Dr Blair Peters and had Dr Peters actually been here he could have helped dispel some myths in fact in the article you'll find Dr Peter saying very explicitly transgender kids do not get surgery Dr Peter said directly refuting a key talking point for those trafficking and anti-trans rhetoric the other article I'd like to enter I'd like you consent Mr chairman to enter into the record is um an article entitled I don't want to live in this state of Terror anymore some families would text would trans children are leading Texas
thank you um Mr mentor and Miss Reynolds thank you for being here to dispel some of these myths and to fight back against this effort to keep Americans on this treadmill of anger and rage um I I'd also Ms Reynolds I want to apologize to you one of my Republican colleagues made some really demeaning and belittling comments meant to humiliate and minimize the parents of trans children by comparing the the very difficult painful journey and conversation with children about transitioning to allowing kids to eat ice cream all day every day so I want to apologize
of what happened um and I I want to congratulate you for your courage to speak on behalf of your child and other children I'd like to ask you Miss Reynolds you know I entered into the record this article about Texas and Texas has been a very hostile State it's a vulnerable populations um can you tell me and I've listened very carefully to your journey but can you tell us what happens when the government Marshals all of its energy and resources to harm families like yours
um it's absolutely terrorizing is what it is what it does it's very um it creates a another level of stress and um I I mean I really can't even understate that overstate that it's um it's terrorizing it really is um it's extremely stressful it's extremely distracting and it produces all kinds of fear um I I would have loved Texas already if that were something that was financially feasible for my family and it's not um my career is in Texas my children are established there they have their friends they have their schools they're there
we're here and um but because of this I would have been you know a political Refugee to another state if I get it if I could afford to do that so we're having a choice but to try to at least tell our story and see if you know anybody can hear sort of something a little more rational something a little more like what families like mine are experiencing so much Miss Reynolds
Body Gaurd and I would be remiss if I didn't say if really wanted to protect children um Co Workers and any colleagues on the other side of the World.
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aisle would have joined with us in uh Pat robust comprehensive gun violence prevention legislation that would truly protect children thank you Mr
chairs [Music] the mother of the transgender child and this year recognize the general from California Chicago
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