europe, what people have not, on two in europe because the virus has overtaken the europe,s, is that the eu pushed through a one trillion stimulus package that eurobondsinanced by jointly issued by the eu member states. they are jointly liable. that is the first time that has ever happened. throwing their hat into the ring and the liability at stake together with the kinds of greece and italy. to us it is a major step forward for europe. in the past there was always a discount in europe because of the fear of your breaking apart. may be italy or another country leaving. we think that risk is minimized in europe. we see a lot of opportunities in europe. guy: redenomination risk may be potentially gone. we hope the deal gets over the line. come back and talk to us more about your broader view of what is happening in the market. it is interesting to get your take on what is happening in europe. of lucernelaar capital management. we greatly appreciated. european stocks finishing the day in tight ranges. the dax up just a touch, everything else negative. a little but of a push higher towa

europe is

they insist greece won't be a gateway to europe again. it knows much of europe thinks the same. in 2015, sweden was one of the most welcoming countries to migrants, its asylum policies have since become significantly stricter. five years ago, the bbc followed a young syrian woman, noor ahmad. she made her perilous journey north. a report from sweden now on how noor‘s life has changed. coffee with mum, a simple pleasure. noor doesn't take for granted. they were separated as she travelled alone across nine countries to make it here. her father died in the war in syria. now she's learned swedish, got her driving licence and a job in a food warehouse. i have my apartment. i have my family. i have my dog. so i feel like i'm a stable, confident person right now. and what about making friends settling in? they are so like closed group the swedish people. so you canjust go in and be friends with someone. you can't do this. do you have any swedish friends? no. she'd hoped for deeper connections, but still feels lucky to be here. that's because sweden, one of the most welcoming countrie

they used to say europe, look at europe, look at europe. first of all, they count their cases totally differently but look at europe. they have a big spike and it is going to go down, and we had a spike in miami, we had a spike in texas, arizona. it is down to low numbers. >> everybody knows who donald trump is. let's show him who we are. we choose hope over fear, unity over division, science over fiction, and yes, truth overlies -- over lies. jonathan: making their final pitch to voters. six days to go, 70 million americans have voted. by this time next week, we might know who the next president could be. the difference in approach over covid-19 between these two potential presidents is absolutely radical. europe, down aggressively because we are starting to understand the next moves on the continent. to get your hands around the next move in the united states, we've got to find out in a week. that is certainly right. if you were to see a biden administration, you'll see more force about mask wearing, which we haven't necessarily seen from

the 2nd wave in europe is rapidly outpacing the original outbreak earlier this year this time the region looks better prepared or vanderlei in the e.u. chief has unveiled plans to transfer covert patients from hard hit member states to neighbors with spare hospital beds the commission announced tonight that we are making 220000000 euros a vailable to finance a safe cross border transfer of patients where it is needed and for that there good use of the money requires good information in exchange britain has once again decided to go its own way in how it handles the pandemic prime minister boys johnson is resisting following germany and france in ordering a 2nd lockdown it's a decision that's led to criticism of the government especially since the u.k. has the largest number of corn about its debts in europe more than 46000 instead it's imposed local lockdowns despite any new studies showing cases in england are doubling every 9 days in the us we're just heard nearly 90 a 1000 you know infections on thursday is the highest number of daily cases since the start of the pandemic the virus is

in europe, the picture is mixed. there are moves to consolidate in order to cope with weaker brethren. you see that in spain/italy. that is likely to continue. it is difficult to give a single answer. there are strongly capitalized banks and weaker ones that cause concern to the ecb. the ecb is often talking about the need for consolidation of the european banking sector. francine: if we have a no deal brexit, what with the u.k. economy look like in three years? -- what would u.k. economy look like in three years? what incentives with the u.k. need to thrive? everyone's analysis is an ideal brexit would be diversion to the economy. year, thene gdp this forecast they came out with yesterday, the u.k. being more effective than other euro economies, the brexit effect is somewhat lost, because people were talking about 2%, brexit, for the first year, a little bit continuing. it is hard at the moment given the fog of the crisis to identify particular brexit effects. we still don't know whether we will have tariffs or not.

and not just in eastern europe. didn't change things for the better the members of the opposition in russia came increasingly under pressure. some have to fear for their lives some have lost them right up to the tear gas. situation where the distance has grown without a doubt. the vaccine is. in them i don't i believe we shouldn't just let this process of alienation continue for. us and to the phones and. our history in europe but also that your graphical location with russia as a neighbor makes it necessary to look for opportunities again and again to come to that but as i say you cannot change this unilaterally there's also requires the will and understanding of the russian side. it's clinking sounds as though they aren't giving enough they get little i mean you know it's true to tell us. when this because developments in the u.s. russia and china show how important it is for germany to take on a leadership role how much is germany ready for light. and fast and we need an understanding in germany that this country

foreign policy toward europe. european leaders and many of their counterparts around the world are watching the election closely. while there are differing views about how the upcoming november election will shape the relationship, few in europe believe it will revert to its previous form. with polling from the european council on foreign relations on european views of the transatlantic relationship, it shows that france and germany see the need to prepare for a long-term disengagement from the u.s. regardless of the outcome of the election. the polling also finds that irrespective of the results, no e.u. member states seek to position europe as a third power between the u.s. and china. today's discussion will assess the stakes of the election and its implications for u.s. foreign policy. i am delighted to be joined by an outstanding panel of experts who will offer insights and analysis about what we can expect from either a second trump term or a biden presidency. they will also consider how a geopolitical europe

and europe? what are going to be the major policy changes that we could see if biden is to take the white house? >> i have to point out biden is going to be 100% focused on domestic issues when he comes into office. on the foreign policy side, the relationship with russia, there will be a shift. a frostier relationship with russia. the same with saudi arabia. saudi arabia has got an bit of a pass from the white house. i think that will change. in biden will approach china much the same way donnel trump has but focus more on human rights than donald trump has. his focus will be to build a network of democratic allies that can work together in some sort of informal alliance to address issues that we're concerned about global donald trump's approach has been america alone. we can do it without allies and friends and partners. that has proven to not work and joe biden will take the opposite approach. we can be more effective working with allies and partners around the world to address issues of conce

europe should be on the menu stuti under the geneva convention. not of sourcing human beings to none e.u. countries like so much dirty laundry. that's if. i have 2 homes no one here in kosovo and one in the u.k. . who are there with you having seen work for 3 g.'s today have to suffer i realize more than never of lucky oh yeah. i don't have to fear for the safety of my family or worry if there's enough food for them to survive. and there are thousands of customers who feel just like me. i'm back and pushed enough for the euro 2020 qualifiers because of our playing england at home. there's a giant cheer from across from crowd when the english team come out. and locals hold up english flags and god save the queen is being sung. it's impossible not to be deeply moved by the enduring gratitude of my fellow country men who was a british for granting a safety and sanctuary in the ninety's. i just wish the u.k. and europe were as humane and welcoming to those who are in prosecution they. move. on the 8th of september 2020 a fire tore through the morea ca

that's the best performing in europe. europe is by the u.s. where the nasdaq is up 30% year to date, and now behind asia with japan's market. you can see that red headline. that's what we've got in terms of the big picture. we have a lot of talk about stimulus. stimulus in the united states. we will talk about that with the markets live team in a moment. the pound has been on the move in the asian session. credit downgrade when things kicked off in sydney. moving a little to the upside. we talk about the possibility of watering down the mark entre version legislation. the new zealand dollar getting a boost from the fairly definitive victory. gdp data from china in the mix. we get to that and a moment. but getting first word news update from laura wright. laura: there is optimism of progress in washington. how species -- house speaker nancy pelosi says a deal remains possible, but a tuesday deadline is set for making way with the white house. getident trump says he will the gop to get a good deal. going beyond the dollar amount that's on the ta

this is "daybreak: europe." are ready toials water down boris johnson's lawbreaking brexit bill, a move that could revive veiling -- failing talks with the european union. moody has cut the uk's credit rating over the weekend. what does this mean for the pound? ise with this morning's call juliette saly. juliette: a little bit of a muted reaction. we have been seeing some upside. what we are hearing is a lot of these traders on the pound are washing out a lot of this political noise, saying the real deadline here is november. you need at least two months to get some kind of deal through on the new trade terms by 2021. europe says you should be looking at november. if it's clear by early november that there isn't going to be a clear deal, then you could see a 5% decline in the pound across the board. one strategist things we may be closer -- thinks we may be closer to crunch point. he recommends a short tactical position on the pound, versus the dollar, given the risk of a no deal brexit and also a resurgence of

we talked about europe. there is a distinction between a recovery breaking down and the potential breakup of europe. for places like italy, spain, look atwhere, as you the periphery come are you confident we've made the pivot away from sovereign debt in italy and this crop -- across the periphery behaving like a credit and starting to perform like sovereign? paul: the important distinction is this is a european problem, not just a southern peripheral european problem. it is the countries in greater numbers, but it is seen as a pan-european problem. the other thing is the response is pan-european. we've seen joint issuance of bonds. that is a sea change and regime support the european bond market and that is the bit keeping that sovereign bias to the broad european bond markets rather than just buy germany, sell italy trade. it is a key distinction they are together. they are fighting together and they are doing the ecb support, and also the fiscal support is a little more joined up then perhaps it was before

as europe struggled to respond. hello, sunday has brought most of us some dry and pleasant weather, we have had some blue sky and sunshine but the cloud is increasing from the north—west head of a weather front which is moving into this evening and overnight. that will bring some rain across scotland and northern ireland with much of england and wales staying dry and the clearest skies dad east anglia and the south—east. temperatures will fall lowest here, but for most of us, a mild cloudy and damp start to the day, a different feeling day tomorrow than what we had today. we have rain from the word go across northern ireland and scotland, pushing into western parts of wales and nudging its way eastwards and arriving across east anglia and the south—east through the latter part of the afternoon, followed by sunshine and blustery showers. not a warm day. into the middle of the day, we are going to keep that threat of some showers in the south—east of england, but much of the uk stays mostly dry with some spell

europe is once again of the epicenter of the global pandemic that so far more than 44000000 infections and over a 1000000 deaths well why the region is struggling with rising numbers of infections while deaths from cova 19 rose by 32 percent last week. well france has imposed a month long lockdown that went into effect at midnight on thursday for the 2nd time this year people are living under tough restrictions president eman well mark ron says the measures will help reduce infections from about 58000 today to 5000 according to the john hopkins university friends has reported more than a 1000000 cases and over 36000 deaths across the border people in germany are also preparing for a bomb for restrictions from monday chancellor angela merkel was once praised for her handling of the pandemic but she is now warning that health authorities have lost control of skyrocketing new infections despite a contact tracing program and men data required on teens authorities say they are unable to identify where 75 percent of new infections are coming from the 2nd wave in europe is rapidly outpacing t

has the largest number of corn about its debts in europe more than 46000 in its imposed local lockdowns despite any new studies showing cases in england are doubling every 9 days in the us we're just heard nearly 90 a 1000 you know infections on thursday is the highest number of daily cases since the start of the pandemic the virus is spreading rapidly in the western half of the country affecting every swing state crucial to the next week's presidential election at least 228000 deaths have been linked to the virus president donald trump who was hospitalized earlier this month with coburn 1000 continues to play down the threat. in asia india is struggling with the largest number of infections more than 8000000 cases and over 121000 deaths have been recorded health authorities believe the act or numbers may be higher some experts estimate at least 130000000 people may be impacted. joining me now our guest in milan dr. chikane president elect of the european society of intensive care medicine and head of intensive care medicine at humanity research hospital in boston matthew fox infectious

covered 19 is surging once again worldwide and here in europe urban centers are at the forefront of that wave from our say to munich paris to prague the continent cities are rushing to impose new rules ranging from crow bishan zot and parties and closure of bars to curfews and travel bags restrictions on public life still fall short of last spring's lockdown for now as the world waits for a vaccine can the virus be stopped our title coronavirus hotspots are europe's cities out of control. and. on. and. on. and it is a pleasure to introduce our guests starting with martin meyer he works as a science editor for the german radio broadcaster dawn folk and he believes despite scientific progress the pandemic will prevail therefore we will have to get along with further restrictions. and it's a pleasure to introduce reshad freebird he works as a science editor for the berlin daily tug and he says we are only at the beginning of the cold and indoor season and there is a real danger of things getting out of hand in some places. and i'm pleased to welcome our colleague nearest because she's a sci

and by europe -- and buy europe. do you agree with that? >> the technology sector in the u.s. will be the hardest impacted by the increase in tax rate from 21% back. companies, the faang this will take about 10% of the expected earnings off and the $that hasink saved most of us are coming to play, the fiscal spend in the u.s. will be enormous. be more in, it would a landslide, a magnitude much much higher. i agree with that. guy: it is not going to be a great brexit deal, but even if you get a deal done, does that add to the impetus to buy europe? that deal being done, a blue wave, to both of those things come together to produce a decent rally for european equities? there is a lot of unfinished business. the eu budget is not in place either. months, we will most likely have a trade deal lite between the u.k. and the eu. we will have the eu budget in place, and inside that, they will be fiscal ammunition that could be used by the commission, not only in the already in place budget but over the next coming years. i do see that the fiscal spend in europe will be tied -- tight. y

people sought refuge here in europe, 4000 crossed hungary. and a good proportion of them entered from serbia down this disused railway track. in all looks very familiar today only the crowds are missing. then hungary built a fence to stop them. this man first suggested it. he is a local mayor. i am very happy when the government built this border fence because we need this borderfence not only in 2015, not only today, but we need this border fence in the future. few migrants attempt to cross the fence today. those who do reach western europe have found other routes. the government sees the fence as an unqualified success. we don't like other people coming here, especially different religions. we know that they are not going to a by the rules and follow the european way of life because their culture is different. it is not a matter of racism or antiracism, it is a matter of common sense. back in 2015, the station in budapest was another bottleneck as tens of thousands of migrants tried to transit hungary towards northern europe. last year, onl

in europe and it's just it's just crazy it's ridiculous is. later i meet up with muhammad the young learn from the camp. being in the morning chemistry are hard for example when we want to take a break 1st we should wake up 6 am and until 8 am we are in the line to take just one small cake it's not enough for one to adults 1st and yet noon we should sense 2 hours to take your food and winning we should stand 2 hours to spend 6. 6 hours we are ascending into line to eat food it's really hard and when i arrived here about 3 weeks ago. 10 days in this street not in the tents because they said that tends to the single month and most of the people wants to run away from here because here is the same as hell it's really hard to. argue that there are. wrong. then make the move. here you need to have to run a very remarkable people here the next day much to give up on it. because of their mori accounts don't give us enough food most of the refugees force so rob fruits from the garden so that's why you people are hostile and look yes because if he says

just like brexit in europe. we are talking about brexit, but the door is not yet closed and the possibility remains a deal can be done. manus: there are various stories from scott minerd at guggenheim over the past 48 hours. scott talks about the possibility of the bond market .41, the to .4, then -.25 in 2021. i would say you have to have something catastrophic to get you to negative rates in the united states as a headline number. to happen to get the bond market in the u.s. to reprice to .1, then flipped negative in 2021. what is the extreme grey swan that would take you there? aederik: it is a huge shock, broad recession that hits not only the u.s., but the world economy. 'sen then, we know the fed option is to increase the balance sheet, do some rotation before theyities even consider cutting interest rates to negative territory. you also need europe, the bank of england, the ecb to change tack because they haven't looked too much at this. they will threaten with rate cuts but don't want to go there. you ne

focused on europe. 90 minutes on d. w. . has a virus spread. why do we have it and when will all this and. just 3 of the topics covered and the weekly radio show is called spectrum if you would like any information on the crown a liar or any other science topic you should really check out our podcast you can get it wherever you get your podcasts you can also find us at dot com. org slash science. beats the obsession for spectacular pictures. it's their passion for nature. it's their complete devotion that makes them want to look for each other 1st in the world. and co-writing. confrontational and story. 5 adventures. one goal. so preservation of our planet. it's not just an issue of pardon trees and saving pandas anymore. it's us that's in danger of surat. passion for china starts nov 6th on t.w. . this is d w news live from berlin a prime time battle for the presidency candidates joe biden and president donald trump all dueling t.v. events they should have been debating but trump backed out when his corona virus infection forced the event on l

this is daybreak: europe. europe on pause. france's month-long lockdown comes into effect. merkel says the eu should have acted sooner. totle doubt the ecp is set prop up more stimulus in december as the virus stimulus triggers fresh measures. get gdp data across the continent. and solid numbers in tech are not enough to keep investors from selling, dragging down u.s. equity futures. good morning. over the past 45 minutes, we have seen a leg lower across equity futures as well as across the msci asia pacific, even though yesterday wall street did close higher, it was a relatively flat close in europe. s&p 500 futures down 0.9%, and the nasdaq 100 futures extending the losses past 2% this morning. clearly the stabilization yesterday has not been enough. it has been a difficult week in the markets. the tech overnight did not meet expectations. apple down more than 4% in after-hours trading. it was about expenses and costs for apple in china. twitter extending losses more than 17% in overnight trading. for investors. alphabet, one bright spot in big tech, up or than 6%. u.s. 1

the european center of disease control in stockholm that to publish this new method of europe not only of the countries but the regions and this is new broken down to $200.00 regions and the new point is that not only the incidences so the new infection cases will be rated but also the number of tests and the positive tests that are returned so that you have and you. to to apply and that might change the net added a bit for example in germany the number 50 incidences is no longer valid it can range between 25 to 150 incidences but you also have to apply the positive return rate of tests which should have around 4 percent and not higher and all these measures are designed only for tourism travel essential travel business is not afflicted by this in all these measures voluntarily so the member states i'm not obliged to take part in this new traffic light system ok well the system does sally can provide some valuable orientation to travelers how soon could it be put in place. but it could be in place actually next week because the data over there and the e.c.c. the european center for dis

europe heads closer to lockdown. your money and france imposed strict month-long measures to curb the virus spread. can it spur an immediate dose of support from the ecb? earnings keep coming. we speak to the top executives of credit sees -- credit suisse and many more. your destination to understand the outlook and numbers. net incomese with a dropping by 38%. 536 million swiss francs. the pencil that number was 597. that is a mess. plans for a 2021 share buyback program producing 1.5 billion swiss for that. that's a similar trend that we saw ubs deliver last week. the provisions. this is incredibly important. the loan loss provisions come in at under 100 million swiss franc. the estimate was 243. a very reminiscent story from credit suisse except that their net income is down 40% as opposed to the best ever across product lines at ubs. promotes brady and masters to nonexecutive positions. they appropriate to share -- pay shareholders. what do the numbers mean? that conversation, coming up when we speak to the credi

so our focus is europe and south america and we've got 2 reporters with us there is daniel. in buenos aires and we'll be with him shortly starting though with european news center in london. trying to figure out actually where to start in again because it's the story right across europe isn't it where there's just this big surge across so many countries. absolutely kemal of course earlier in the year the 1st countries to be hardest hit by the pandemic were in southern europe places like spain and italy and of course those countries are still struggling with rising infections themselves but as you are referring to countries which have done very well seem to have done very well up till very recently are now extremely worried chancellor merkel is warning her compatriots that how they act now will determine how the winter period goes as you said a record of $15000.00 daily cases in germany the total covered 19 death toll they're now going past $10000.00 in poland the situation of course worrying for the president under a dude who is now in isolation after testing positive he say

short treasuries come along europe, the idea this u.s. recovery continues and it stalls in europe. what are you seeing in the trajectory of the recovery. does it speak to that? paul: not really, i would say. what we are seeing now is a shift. we have had this surge of consumer spending fueled by the savings of accumulated in lockdown. that is pre-much universal in the developed world and that is your third quarter story. as we go through the fourth quarter and into next year, fiscal policy will start playing a larger role. we will have some issues. depending on the election results, we might get a large amount of stimulus in january. the negotiations in washington forhe moment rival brexit the delays at the chaos in the internal tedium of what is going on. the failure to do fiscal stimulus now is doing real damage to the u.s. economy. first, because if you are unfortunate enough to be unemployed you are clearly on a far lower income than you were, and economically this is important, if you are afraid you might become unemployed, that fear of a loss of income and unemployment is lik

and also langoustine and snails a lot of course going to europe about 73 percent of what they catch comes from those british waters the british want to maintain it and that was what brett's it was about so the bottom line it is a huge leverage card for the u.k. and it is something the wrong cannot back down on and he cannot see his fishing villages and his coastal community devastated neither can those other 7 nations so 8 and the e.u. standing vos this is the leverage ship for the u.k. burn october 15th which is what thursday is the deadline for these trade talks obviously that has been missed you know u.k. prime minister boris johnson that is if a deal was not reached by the 15th that both sides just basically walk away and move on is that going to happen. i don't think that's going to happen though i can see why you know abortion is going to have to do some backpedaling here it seems like the u.k. is going to have to still negotiate somewhat but there is frustration on britain's part about how long this process is taking and one of the things that's been kind of voice in the medi

in europe. the morea camp was intended as a short term registration center for asylum seekers waiting to transfer elsewhere. it has capacity for 3000 people but over 13000 are living here and the numbers are growing. more stay in the no risk belay area known as the jungle. this man from i'm going to start arrived here 3 weeks earlier. your kids are. shot. to flacco calling one of them if i said those are my knees are still. in the field what is our morning. meeting go on and it. was a curious one and then he was over the only sort of new some come over to finland missler i wanted in just in the dominican. element for me to see what yeah i can offer to shake magazine. also from the going to star wants to show me very lives. on the way we pass the toilet seat has to serve with hundreds of others. i want. the number of the stench is overwhelming. my goal this is not. how do you do not sending him. let's say no to that which you did in the end she had island. fame holes in it you know what it is and

the question is why is europe so extreme on these family questions? so then the case the book lays out is that the church did this. we can see the changes in european languages. european languages begin dropping their complex kinship terminologies and they're developing, by 1200 in most cases, the simple kinship terminologies that we currently use in english and spanish and these other kinds of things, which is similar only to hunter—gatherers in a cross—cultural perspective. the other important element here is that there's both psychological and social changes which lead to all kinds of new institutions. so the transformation of the family shunts europe on a different cultural evolutionary trajectory, which leads to the kinds of things like representative democracy, competitive economic institutions. all the things that we subsequently see begin to emerge in the high middle ages. exactly. that's why i'm saying your theory is... it's one of these grand theories that starts with something quite simple and straightforward and specific and then tries

jeffrey: it has been a good earnings season for europe, not just the europe, but also the outlook. the chief executives are able to look further ahead than in the last set of results. we also think there is likely to be more upgrades than downgrades . we are expecting 30% etf growth over 2021. we think that is supported by gdp growth next year of around 4%. we are not expecting to need to downgrade that growth forecast because of wave two. it was already reasonably conservative. the important assumption we are making is that your recovery fund will be ratified by year end. we think the second wave of the virus will intensify the discussion to ensure the compromises are made to get that from the government. jonathan: stick with us. a hopeful jeffrey sacks there. i want to check in on the price action for you. this session is young, but we rolled over dax futures. we were positive. that bounce is muted now. flat on the ftse. on the dax, we rollover a little bit. will: a covid-19 vaccine not likely be available until january at the earliest, according to u.s. infectious disease expert

a little bit of action into the close over in europe. jpmorgan asset manager in global market strategist was the front and center yesterday and over the weekend. double-dip recession in europe, is that your call? >> that is the case for now. what we're seeing clearly is that the progress for the q4 growth outlooks are becoming more exaggerated as we move into the winter, that so far, the restrictions we are seeing for most governments across europe are primarily about trying to limit social interaction. much less about trying to limit economic activity. clearly i think there is a risk of momentum fading at this point, but it is understandable that markets are not overly pumped about this so far. we have not seen too much of a reaction i think in part because of that limitation to the restrictions and also because investors know that at the same time as we have downside risks, there are clearly upsides as well in potentially the shape of some form of news on a medical solution. perhaps understandable at the moment that european markets ar

at times, europe and the u.s. will view individual policies differently, but on the scale of world affairs, these differences are small compared to the values we share. let us remind you what binds us together as we work side-by-side to shape a world of which future generations will be proud. thank you. >> mr. deputy secretary, thank you so much for being with us today here at the atlantic council. we thank you so much for your remarks, and i want if i can to follow up on some of the things that you have mentioned. let me begin on the issue of sanctions, if i might. the united states has imposed financial sanctions on a long list of countries. you mentioned syria and belarus, iran, north korea, russia, venezuela. it's a pretty long list. do you have a fear the u.s. is overusing sanctions at this point particularly unilateral, and will this eventually affect and threaten the role of the u.s. dollar as the global reserve currency? >> sure and thank you again for moderating the question section of this. it's an excel

stage as a result of dissension so we can discussing sanction in europe and europe can impose sanctions on 2 more russian film or 3 more russian citizens but the question is how how effective the sanctions will be. i think that there are some leading german politicians among them former chancellor gerhard schroeder have argued in recent years that it's time for a german russian reset or those voices growing quieter now after the attack on avanti not sure they are non-existent anymore i think. the problems with russia are obvious. with the europe it was the european union with that same time we shouldn't destroy in my view what has been built between germany and russia for europe for european security in the past 30 years and in a dramatic way that. is can disappear and i think probably yes the west wants to punish russia than punish russia but on the other hand there are many aspects where we should cooperate in future because we are not in the east west conflict anymore but in the north conflict we need a common view on how to. talk to fight was a challenge which stands in front of us

i'm manus cranny it is daybreak europe. cranny.manus it is daybreak europe. virus concerns and stimulus limbo in washington continue to weigh on sentiment. it is one week to run until u.s. election day. biden picks up his campaign pace as trump blitzes the battleground. the senate confirms amy coney barrett to the supreme court. it is earnings galore in europe. .ig oil hsbc, santander. we speak to the spanish lender's cfo. beach onis, it is a the core earnings-per-share. 44. market penciled in $1. when it comes to net sales, they are expected to grow to mid single digits. they are talking about core operating income at a low double digit to mid teens so in terms of the earnings per share, it's a beat, but on the sales side, it just comes in below third-quarter sales. in 12.4 $8penciled billion, so certainly a solid delivery. they are upgrading their core operating income guidance as well. analyst is parsing the numbers at the moment. we will have -- he will join the team. that is with jonathan. bank, the banks have come hard and fast. they beach on their esti

-europe relationship. >> coming november will shape the transatlantic relationship, few in europe believe it will revert to its previous form. recent polling from the council on foreign relations on european views of the transatlant transatlantic relationship show that france and germany look at this regardless of the outcome of the relationships. a and-- today's discussion will discuss the stakes of the election and the discussions for u.s. foreign policy. i'm glad to be joined by those experts for insights and analysis for a second trump term or a biden president. and consider how a geopolitical europe would react to either scenario. before we dive into the conversation i'd like to take a moment to thank the turkish business industry and association for support and collaboration to help to make this event possible. we are grateful for the u.s. and europe and look forward to continuing our successful partnership with them. and as always, an iron clad commitment to independence is at the center of brookings institutions policies and values and the views expressed today here are solely tho

is europe in recession? daniel: certainly the risk of that happening in the fourth quarter has gone up. we had talked about the different shapes of the recovery several months ago, and it does look more and more likely that you may well see a w in europe, if not necessarily in the u.s. jonathan: if we do get that w, what does that mean for your allocation for europe and the next few quarters? daniel: currently we are overweight u.s. and emerging markets as opposed to europe in our multi-asset portfolio, so it simply reflects that risk you see in europe, and in addition to that, the relative lack of tools, options and europe to compensate for that, be it monetary stimulus, fiscal stimulus, you just don't have as evers in china, or the u.s. for that matter. rightan: europe's present now is in america's near-term future. does it have to be that way? daniel: i think there's two things we need to keep in mind. whether it is the evolution of the pandemic itself, the number of infections and the number of deaths co

-- in europe. mercedes: looking at europe is the lens we need to take. all along we have been four to six weeks behind europe. that cases are searching in europe suggests to me that as the winter months come upon us and we have more time indoors, particular with the holidays where we want to be together, i see that this trend we have right now of high case rates, case rates per day as high as they were in july, and starting to approach what we saw at the beginning of the pandemic, i do not see a rosy future in the next three months. is this people getting tired of having to distance and wear masks and take necessary precautions, and how much is it the change in weather, that colder weather makes it easier for the virus to spread? mercedes: i think a large part of what we are seeing is the decrease in vigilance. it is hard. it is hard. if you do not have the visual daily reminder of a loved one who died, of a friend who suffered from it and was hospitalized and maybe one of the long haulers who are still suffering, it is easy to say can't i take a chance

he hasn't, you know, covid, there was a lot of patronizing americans on covid by europe and now europe has been a state of infection that's probably worse than the united states. so no government i think, no democratic governments will come out unharmed or un-blamed, even though what they all tried to do is balance economic growth versus health. it's not easy and i don't think anyone has done terribly well in a liberal democratic society but perhaps japan. maybe south korea. but europeans look at trump as a kind of mayor, i have to say. central european holes very much appreciate despitehis complaining about nato , trump was the president that put more american troops and military efforts into europe, into nato. particularly along the russian border to enhance deterrence so they are quite fond of trump. there is not in support of authoritarianism and the poll in hungary is a separate case reedit in terms of what he's actually done as opposed to what he said, he's actually been good for nato's deterrence. but he has seen europe as a competitor. as a rival. he believes the european union

and europe. guy: the outlook for europe and the united states, particularly europe, is looking more difficult. we are seeing lockdowns in france and germany. will these carmakers be able to continue to produce during this phase. will there be demand? if you look at what is happening in europe, what does next quarter look like? philippe: absolutely. my comments on china and the u.s. definitely factor in, as we look at the rest of q4, the potential shutdowns we see in germany and france and other countries, not so much in the u.s.. france seems like dealerships hopefullyosed, customers will take deliveries of cars but you will slow down production. see saleswe may not stopping to zero like we saw on the second quarter, but it will definitely impact factory term andn for the near for the industry as a whole. what cars are most in demand? where does the supply chain get the most disrupted? philippe: right now there is uneven load factors. ,ome plants are working well some are working more slowly. we

europe? we are watching credit very closely. there's this kind of air pocket. it is really unfortunate that we didn't get pre-election fiscal stimulus. it is really important that we can't really count on anything in the lame-duck session. ifcredit will really tell us companies are going to be able to make it through and avoid defaults, and if consumers are going to be able to adjust, they will have enough saving that they are able to spend in the fourth quarter. we are watching financial market indicators and the coronavirus data. jonathan: arguably the pressure point for the federal reserve as well. not at that point yet where the fed is going to be too concerned. what i think is interesting is not just the news alone, but how the market responds to the news. tech the worst hit sector in yesterday's session. what did that tell you? evan: that was quite interesting because you would think the narrative is that coronavirus concerns are driving everything, but if that was the case, you would e

in a small town in the heart of europe the trying. to save a life the intensive care units here in the czech town of key of new bern know is nearly full with covered 19 patients 75 staff at this hospital are off with the virus for their colleagues these are worrying times. the staff are doing everything even at the expense of their personal needs and time even on their days off they're working to prevent an italian scenario daily infections in the czech republic have hit a record high of more than 15000 that's despite tight restrictions including limits on people's movement and a ban on gatherings of more than 2 people in poland's daily infections reached a record of nearly 14000 on friday as president andre duda visited the national stadium which is being transformed into a field hospital due to who's 48 is now in quarantine after testing positive for coverage 19 he says he feels fine insisting he and his team followed the safety measures for damaged and separated i would like to apologize to everybody who's had to go into quarantine

europe put brakes on economy. all those members in the eurozone, talking about not getting any recovery until 2022. this is very interesting from both points of view. having much words outcomes, and in the states that suffered very badly, they constantly compared themselves. if you watch the television and read their newspapers, with europe, we know now that europe is suffering and economies are contracting. the optimism a lot of european countries we re optimism a lot of european countries were admitting in july optimism a lot of european countries were admitting injuly when something —— in some instances of cases were being suppressed and economies were opening up. now we see a second economies were opening up. now we see a second wave economies were opening up. now we see a second wave and everyone is struggling. how many deaths are tolerable? 12.696 contraction warned in spain, but of course they've already agreed up bailout package which will run to trillions of. it's germany getting the chequebook again.