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Speaker 1: This is Bloomberg daybak up for this Friday, the nineteenth

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Speaker 1: of May in London. Coming up today.

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Speaker 2: Within touching distance, Congressional leaders signal that they're close to

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Speaker 2: a deal on the debt.

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Speaker 1: Ceiling, chipping in the UK on veils its long trailed

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Speaker 1: semiconductor strategy.

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Speaker 2: The woman on top at Man Group, hedgemnt giants new

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Speaker 2: CEO speaks exclusively to Bloomberg.

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Speaker 3: London's growth rate outpacs, the UK revolutes, banking license hangs

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Speaker 3: in the balance, and brainstorms prove to be a waste

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Speaker 3: of time. Those other stories we're looking at in today's papers,

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Speaker 3: and I'm Leanne Gerren's.

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Speaker 1: Plus the banking crisis bonus, no one wanted regulators put

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Speaker 1: remunerations back in their crossheers.

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Speaker 4: That's all straight ahead on Bloomberg Daybreak Europe. The business

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Speaker 4: news you need to start your day in just one

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Speaker 4: fifteen minute podcast on Apple, Spotify, the Bloomberg Business app

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Speaker 4: and everywhere you get your podcasts.

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Speaker 1: Good morning, I'm Caroline Hike and I'm Lizzie Burden.

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Speaker 2: Here are the stories we're following today. How Speaker Kevin

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Speaker 2: McCarthy and Senate Majority Leader Chuck Schumer are planning votes

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Speaker 2: in the coming days on a bipartisan debt sealing deal.

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Speaker 2: McCarthy says negotiators may reach an agreement in principle as

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Speaker 2: soon as this weekend. Speaking to us here on Bloomberg,

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Speaker 2: Senator Kirsten Cinema says she's increasingly confident that a deal

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Speaker 2: will be done.

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Speaker 3: Well.

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Speaker 5: The good news is that we've now got the right

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Speaker 5: people in the room to have the conversation and come

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Speaker 5: to an agreement, and I am beginning to feel more

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Speaker 5: and more confident each day that such an agreement will occur.

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Speaker 5: We've got some really good news here. One is that

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Speaker 5: Kevin McCarthy has said over and over he doesn't want

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Speaker 5: to have a default. His folks are in the room

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Speaker 5: negotiating to prevent a default and solve this challenge.

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Speaker 2: Cinama's growing optimism comes as traders worn of a surge

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Speaker 2: in borrowing costs and blow to equities in the event

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Speaker 2: of any default.

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Speaker 1: Now is a skip the new pool? Dallas Fed Chief

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Speaker 1: Lourie Logan says that the case for a pause in

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Speaker 1: June is not yet clear. Speaking at a Texas Bankers

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Speaker 1: Association conference, Logan suggested that the Fed could skip the

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Speaker 1: rate hike issue at next month's meeting and revisit it

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Speaker 1: in July. Her comments contrast, though, with those of FED

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Speaker 1: Governor Philip Jefferson, who's been outlining the Duvish case for patients.

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Speaker 6: History shows that monetary policy works with long and variable legs,

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Speaker 6: and that a year is not long enough period for

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Speaker 6: demand to feel the full effects of higher industryes.

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Speaker 1: Jefferson spoke at an event hosted by the National Association

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Speaker 1: of Insurance Commissioners in Washington. The FED Governor's assessment comes

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Speaker 1: as the US economy remains surprisingly resilient in the face

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Speaker 1: of massive rate hikes over the past year.

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Speaker 2: The UK is committing one billion pounds to bolstering its

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Speaker 2: domestic chip industry over the next decade. BI MUKEDW and

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Speaker 2: Pops reports on the long rated plan for the domestic

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Speaker 2: semiconduct sector.

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Speaker 7: The chip plan will focus on the UK's areas of

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Speaker 7: strength like research and design, rather than attempting to go

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Speaker 7: head to head with governments throwing far more money at

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Speaker 7: the industry. The US and EU have between them, pledged

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Speaker 7: to spend more than ninety billion dollars to spur chip

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Speaker 7: manufacturing in their regions. That's after global supply disruptions and

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Speaker 7: a demand spike brought on by the pandemic fire the

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Speaker 7: starting gun on a race for inventories. It also highlighted

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Speaker 7: the need to make more semiconductors in the West. The

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Speaker 7: UK also says it will increase its cooperation with close

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Speaker 7: partners to develop supply chain resilience in London, imune pots

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Speaker 7: of Bloomberg Daybreak Europe.

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Speaker 1: Now, the battle for talent is hotter than ever, and

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Speaker 1: hedge funds can no longer assume that the cream of

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Speaker 1: the crop will want to work for them. That is

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Speaker 1: the view of Robin Grew, the newly appointed CEO of

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Speaker 1: Man Group, the world's largest publicly listed hedge fund. In

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Speaker 1: her first interview since that announcement, Grew told Bloomberg's Masters

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Speaker 1: in Business podcast with Barry Rittolts that times have changed.

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Speaker 8: So we suddenly found ourselves believing that actually we are great.

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Speaker 8: Therefore great people will come right and actually not so

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Speaker 8: much that those new generations have many more choices on

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Speaker 8: how to deploy that expertise. And actually they look at

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Speaker 8: us and they say, why would I come and work

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Speaker 8: for an organization where you don't look like me, you

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Speaker 8: don't feel like me. You don't understand me, and you'll

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Speaker 8: make me do stuff I don't want to do. And

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Speaker 8: by the way, I've watched billions.

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Speaker 1: So we will be bringing you more of our exclusive

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Speaker 1: interview with Robin Grew, the new CEO of Man Group,

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Speaker 1: in just a few minutes time.

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Speaker 2: And one of the UK's best known bankers says the

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Speaker 2: case for investing in Britain is only getting worse. Terra

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Speaker 2: Firma Capital founder Guy Hans told b Merg's In the

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Speaker 2: City podcast that doing business in Britain is vastly more difficult.

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Speaker 9: I look at the UK and see that two thousand

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Speaker 9: and thirty Poland will be wealthier than we are. Yeah,

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Speaker 9: that's sort of predicted, and I think what happened twenty

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Speaker 9: fourteen will probably be the poor man in Europe if

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Speaker 9: we go in the way we're going at the moment,

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Speaker 9: all you can really see is is Britain just becoming

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Speaker 9: poorer and poorer on a relative basis to the rest

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Speaker 9: of Europe.

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Speaker 2: Guy Hands added that if anything, bureaucracy has increased after

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Speaker 2: Brexit rather than decreased. You can catch the full exclusive

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Speaker 2: interview on Bloomberg's In the City podcast.

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Speaker 1: And the Top Us bank regulators are vowing to act

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Speaker 1: quickly on long delayed rules to clamp down on executive

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Speaker 1: pay and bonuses. The move comes after former executives that

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Speaker 1: failed lenders Silicon Valley Bank, Signature Bank, and First Republic

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Speaker 1: Bank faced criticism from US lawmakers over their generous compensation.

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Speaker 1: The rules were mandated back in twenty ten the Dodd

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Speaker 1: Frank Act to discourage executives on taking risks that led

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Speaker 1: to the two thousand and eight meltdown. So those were

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Speaker 1: a few of our top stories this morning. Look on

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Speaker 1: the debt ceiling issue, could that crisis be a And

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Speaker 1: then Lizzie, would you potentially get a rally? I was

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Speaker 1: talking about the increase in equity markets. President Joe Biden

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Speaker 1: expected back early from the G seven, possibly for talks

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Speaker 1: on Sunday. McCarthy, the California Congressman, has been talking quite

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Speaker 1: positively about the five negotiators from the two sides and

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Speaker 1: how they're meeting two to three times a day and

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Speaker 1: that there's a structure for talks, but not everyone. Basically

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Speaker 1: is that that positive?

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Speaker 4: Really? No?

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Speaker 2: But you have got Republicans and Democrats saying that a

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Speaker 2: deal is close and the dollar closed at the highest

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Speaker 2: since March. Yesterday, the S and P five hundred was

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Speaker 2: at a nine month high, So market's smelling the positivity.

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Speaker 1: Caroline maybe, but also they might be smelling the fumes

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Speaker 1: that the US Treasury is running on right the cash

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Speaker 1: balance has fallen to sixty eight point three billion dollars,

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Speaker 1: so this is the money that the Treasury sort of

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Speaker 1: has on hand to pay bills, to pay its debts.

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Speaker 1: That's the lowest level since twenty twenty one. But more importantly,

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Speaker 1: there's a fifty billion dollar coupon that's due on Monday,

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Speaker 1: so you know, you really could be getting down to

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Speaker 1: the bottom of the bowel. Yeah, so that's why there's

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Speaker 1: so much kind of tension around this issue. But be

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Speaker 1: fascinating if there actually is a vote in time next week.

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Speaker 1: So yeah, that's one of the issues that we're watching

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Speaker 1: out for. But also we've got this amazing interview with

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Speaker 1: the newly appointed boss of Man Group.

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Speaker 2: Indeed, Robin Grew, the newly appointed chief executive of the

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Speaker 2: world's largest publicly listed hedge fund, has a guiding mantra

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Speaker 2: to help sustain the firm's industry defying growth. If it

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Speaker 2: ain't broke, don't fix it. In her first interview since

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Speaker 2: her promotion was announced, she spoke exclusively to Bloomberg's Radio

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Speaker 2: Masters in Business with Barry Rittolts. Barry started by asking

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Speaker 2: her what she wants to do with the one hundred

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Speaker 2: and forty five billion dollar business.

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Speaker 8: And it's a great question, it's also an early question,

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Speaker 8: let's be clear, so I'm going to perhaps not give

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Speaker 8: you the satisfactory answer you want. Nevertheless, you'd expect me

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Speaker 8: to do exactly what I'm just about to do. The

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Speaker 8: firm is brilliant. I mean, it has a cracking core

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Speaker 8: business and my number one job, apart from anything, is

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Speaker 8: not to break that because that is value and it's real,

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Speaker 8: and it will continue to grow. We will continue to

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Speaker 8: see the value of technology, and we have thirty five years,

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Speaker 8: forty years of quant and data and tech behind us,

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Speaker 8: and we will continue to invest in that space. We

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Speaker 8: will continue to look for opportunities in an M and

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Speaker 8: A format. We've made it very clear to the market.

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Speaker 8: Can't guess what they're going to be. Couldn't tell you

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Speaker 8: if I did, no, But I can't guess what that's

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Speaker 8: going to be. What I will tell you is it

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Speaker 8: will be additive, and it will be additive for our clients. Ultimately,

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Speaker 8: this is about having deeper and better client offerings. It's

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Speaker 8: that piece about the solutions that we talked about earlier.

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Speaker 8: How do I ensure that I've got each of the

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Speaker 8: components that can provide a better offering for our institutional

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Speaker 8: clients and we'll grow that us massively important to us

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Speaker 8: deep capital market. You'll absolutely see us putting effort and

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Speaker 8: time into building our presence here too.

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Speaker 10: So let's talk a little bit about your approach to leadership.

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Speaker 10: You've managed to distinguish yourself in a very competitive field.

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Speaker 10: Tell us how.

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Speaker 8: Here's the answer. Everyone, It's not true, I tell you

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Speaker 8: in perhaps this is a way of thinking about it.

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Speaker 8: What I have done, perhaps is the better way of

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Speaker 8: saying who I and how I distinguish myself. What I've

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Speaker 8: done is taken every single opportunity that has come my way.

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Speaker 10: And I so no master plan. This just you just

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Speaker 10: stumbled blindly from one gig to the next.

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Speaker 8: I mean, that's the perfect way of summing it up.

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Speaker 8: The way of summing it up is this, if you'd

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Speaker 8: have asked me twenty five years ago, do you think

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Speaker 8: you'll be the CEO of an investment management company. I laughed, right,

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Speaker 8: I would have done. I didn't have a grand master plan.

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Speaker 8: What I did have was a somewhat insatiable desire to

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Speaker 8: learn and have some fun doing so that. I loved

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Speaker 8: being a fixer. I loved being put on planes or

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Speaker 8: being sent into areas to solve things. I have innately

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Speaker 8: hired people around me and built teams of highly credible

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Speaker 8: quality people who I have empowered and who I have

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Speaker 8: loved to partner in achieving whatever it was that we

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Speaker 8: needed to achieve, better, faster, smarter than before. And that

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Speaker 8: empowerment piece is huge. The ability to not have to

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Speaker 8: be fact in a different way. If I am the

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Speaker 8: smartest person in.

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Speaker 10: The room, you've done something wrong.

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Speaker 8: I worry. I mean, that's not okay. So on that

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Speaker 8: basis leadership style, hire brilliant people, Put great minds around you,

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Speaker 8: Put people around you who are willing to disagree with you,

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Speaker 8: or better still, stop you careering off a cliff if

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Speaker 8: you're heading in the wrong direction way. I can't tell

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Speaker 8: you how many times that that is just as important

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Speaker 8: of the sort of the rugby tackle to your knees bit.

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Speaker 8: If you've suddenly got yourself into a frame of this

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Speaker 8: is where we're going. And I have enormously benefited from

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Speaker 8: that style of management, which is inclusive. It's about delegation,

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Speaker 8: and it's about empowering people to sometimes be really horrible.

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Speaker 10: To diversity and inclusion. How do you think about that

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Speaker 10: as a manager, and then how do you think about

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Speaker 10: that as an investor?

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Speaker 8: I think this piece about I'm not really interested in

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Speaker 8: the person who is different on the outside but actually

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Speaker 8: went through all the same educational processes in the same training.

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Speaker 8: The premise that only the best people will come from

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Speaker 8: certain demographics, your tribe, Your tribe, right is, when you

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Speaker 8: say it out loud, a nonsense. So how we get

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Speaker 8: people into our organizations that feel, look and have difference,

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Speaker 8: and how we ensure that we give them the space

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Speaker 8: to be that different in our organizations. That's the criticality

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Speaker 8: to it, that bit of yeah, yeah, it's okay, we'll

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Speaker 8: have you, and then please can you be like us?

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Speaker 8: You've got to know how to create an organization which

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Speaker 8: actually gives people the space to be different, because that's

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Speaker 8: what you're getting them for. It's a bit like an acquisition,

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Speaker 8: where you understand the commercial reality of it. You buy

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Speaker 8: something because of its commercial differentiation, and then you bring

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Speaker 8: it in and you're trying to sqush it into something

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Speaker 8: that that degrades that commercial benefit. It's the same with people.

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Speaker 8: You've got to bring people in, you've got to let

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Speaker 8: them fly, and you've got to be comfortable, perhaps being

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Speaker 8: a little bit more uncomfortable than you work before.

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Speaker 10: All the academic studies say, if you want to avoid

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Speaker 10: group think, if you want better decisions, the more diverse

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Speaker 10: the group, the more likely you are to reach a

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Speaker 10: better decision. So even that discomfort, there's some academic research

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Speaker 10: that supports it right.

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Speaker 8: Absolutely, Over and over again. You see the academic research.

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Speaker 8: And yet I think there's an arrogance that we've had

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Speaker 8: in our industry a little bit, which has been that

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Speaker 8: great people will come to us. And then we suddenly

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Speaker 8: woke up a little while ago, especially as tech became

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Speaker 8: so incredibly important to all of us, that there were

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Speaker 8: other options for these very smart people that they didn't

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Speaker 8: have to come and work at hedge funds, or maybe

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Speaker 8: they weren't interested in finance. What how could that possible?

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Speaker 8: How could that be? Barry you and I want it shocking, right.

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Speaker 10: I'll let you an a secret. I'm a recovering attorney myself.

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Speaker 8: So I get it right, so that attorney's anonymous, we

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Speaker 8: need to go to anyway that aside. So we suddenly

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Speaker 8: found ourselves believing that actually we are great, therefore great

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Speaker 8: people will come and actually not so much that those

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Speaker 8: new generations have many more choices on how to deploy

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Speaker 8: that expertise. And actually they look at us and they say,

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Speaker 8: why would I come and work for an organization where

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Speaker 8: you don't look like me, you don't feel like me,

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Speaker 8: you don't understand me, and you'll make me do stuff

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Speaker 8: I don't want to do. And by the way, I've

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Speaker 8: watched billions, and I mean, this is the difficulty with podcasts.

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Speaker 8: I just made a funny face. But the point being,

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Speaker 8: we have to do and we've had to do a

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Speaker 8: much better job, I think in joining up the dots

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Speaker 8: for that brilliant talent that's coming through about what we

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Speaker 8: do and why we're valuable, and why it matters that

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Speaker 8: we do what we do, and why they are important

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Speaker 8: part of ensuring financial security for millions of people who

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Speaker 8: have worked very, very hard their whole lives and deserve

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Speaker 8: high quality return on that pension.

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Speaker 10: Yeah, there's there's been a little bit of a backlash

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Speaker 10: against things like various AI and chat bots and et cetera.

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Speaker 10: To me, it's always been a tool. All this technology

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Speaker 10: is a tool that makes people more productive, more effective,

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Speaker 10: more efficient. I've never thought, hey, chat GBT is going

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Speaker 10: to put all of us out of business. It's something

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Speaker 10: that can be used to the betterment of our work product.

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Speaker 10: And it sounds like that's integral to Man's philosophy.

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Speaker 8: Kind of agreed. Chat GPT is clearly the greatest disruptor

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Speaker 8: we've had in the last year. I mean, it's been

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Speaker 8: it's been given some really quite momentous and bylines as well,

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Speaker 8: but it's certainly a massive disruptor from my perspective. If

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Speaker 8: you think about it negatively, you're missing the mark, right.

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Speaker 10: It's it's sure it hallucinates occasionally.

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Speaker 8: But but well, I was going to say something, who doesn't, No,

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Speaker 8: that's not true. It's it's but it's also not going

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Speaker 8: to be the first or the last piece of AI technology.

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Speaker 8: This isn't a well we've got chat GPT now, therefore Withinda,

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Speaker 8: that's not gonna happen. And this sort of semi hysterical

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Speaker 8: fear of it, I think is all wrong.

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Speaker 1: There is.

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Speaker 8: There are undoubtedly benefits for us being able to use

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Speaker 8: technology to capture large data sources.

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Speaker 1: So that was Robin Grew in her very first interview

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Speaker 1: since being announced as the next CEO, the first female

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Speaker 1: leader for Man Group, which is a two hundred and

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Speaker 1: forty year old for her. I mean, it wasn't a

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Speaker 1: lovely interview. Barry Rittles, I know of old because when

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Speaker 1: I lived in New York and he was running his

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Speaker 1: firm and writing lots of books and blogs. I used

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Speaker 1: to interview him a lot, and he's He's such a

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Speaker 1: lovely guy. Such an interesting conversation between the two of them.

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Speaker 1: I mean, Robin Grew also, you know, she talked about diversity,

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Speaker 1: about group think about you know, attracting new generational talent

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Speaker 1: to the business. She herself identifies as a member of

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Speaker 1: the LGBTQ community. That was an interesting aspect. She didn't

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Speaker 1: say much though, about how she was going to grow

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Speaker 1: the business that has expanded rapidly for Man Grew.

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Speaker 2: Caroline. It's early in the morning and I find myself smiling.

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Speaker 2: I couldn't help it. That was really uplifting, wasn't it.

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Speaker 1: Yeah, it was so interesting. You can hear the full

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Speaker 1: conversation of course on Master's in Business the podcast, So

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Speaker 1: I hope you'll listen to more from Robin Grew but yeah,

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Speaker 1: a lovely interview around Man Group coming up next to

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Speaker 1: London's growth rate outpaces the UK, Revelue's banking license hangs

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Speaker 1: in the ballads and brainstorms prove to be a waste

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Speaker 1: of time.

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Speaker 4: Now the paper review on blue Bird Daybreak Europe. The

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Speaker 4: news you need to know from today's papers.

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Speaker 2: Welly Anne Gerrins is with us in the studio to

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Speaker 2: take us through the front pages today and the headline

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Speaker 2: in the Financial Times is London's economic growth uppaces all

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Speaker 2: other UK region?

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Speaker 3: Is that surprisely on, I don't actually think it is

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Speaker 3: a surprise, But let's get into the nitty gritty of it.

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Speaker 3: So London's economy, as you just said, is the best

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Speaker 3: performing in the UK. Now, this is all according to

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Speaker 3: new data from the Office of National Statistics that we

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Speaker 3: have got. Now the Capital recorded the fastest expansion and

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Speaker 3: the smallest impact from coronavirus, and this was boosted by

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Speaker 3: really strong growth in information communication and also in our

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Speaker 3: financial services right here in the Capital. And this is

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Speaker 3: all according to the article in the Financial Times. Now,

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Speaker 3: these latest figures do highlight a really serious challenge for

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Speaker 3: the government and the country. It highlights how difficult leveling

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Speaker 3: up is really going to be, because output in London

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Speaker 3: rose zero point nine percent between the second and third

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Speaker 3: quarters of last year, far outstripping the zero point one

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Speaker 3: percent national contraction that we did have. Now other figures.

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Speaker 3: Output in Wales and Scotland fell during the same period,

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Speaker 3: while growth was flat in the North, in Northern Ireland

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Speaker 3: and in England. So we have to just think London

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Speaker 3: is the only place really growing at the moment, Caroline,

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Speaker 3: So leveling up for the North, a key key Conservative

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Speaker 3: Party manifesto which they won a lot of the twenty

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Speaker 3: nineteen election on, just seems almost impossible to achieve when

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Speaker 3: you have a look at these figures.

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Speaker 2: Yeah, but you can't stay leveling up without thinking Boris Johnson.

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Speaker 2: I don't hear it out much of Rishisuna's mouth.

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Speaker 1: No, no, absolutely, and Bloombergs. We've done our own research

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Speaker 1: on this in the last sort of years, several bits

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Speaker 1: of kind of big data, and yeah, leveling off has

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Speaker 1: not worked, unfortunately obviously. But no, that's interesting, yes, because.

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Speaker 3: The main point of it was really reducing the large

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Speaker 3: regional inequalities across the country, getting.

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Speaker 1: More productivity out of the whole of the UK. Anyway,

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Speaker 1: that stor is really good. What about the Times The

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Speaker 1: banking license Trouble Revolute, Sorry, the banking license for Troubled

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Speaker 1: Revolute hangs in the balance, Caroline.

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Speaker 3: At one stage I felt like I didn't know anyone

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Speaker 3: without a Revolute card. And it feels like things are

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Speaker 3: changing a little bit now. The fate of Revolutes attempts

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Speaker 3: to secure this long awaited banking license from city regulators

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Speaker 3: has been really thrown into massive doubt. And that all

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Speaker 3: came last night. The Times newspapers said. This is after

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Speaker 3: it emerged the Bank of England actually plans to reject

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Speaker 3: the company's application. As you just said, it has been troubled.

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Speaker 3: In March, Revolutes external auditors raised concerns in its twenty

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Speaker 3: twenty one accounts and there's been a revolving door that

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Speaker 3: just keeps turning at Revolute. The neo bank has lost

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Speaker 3: several key executives in recent months now, just last week

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Speaker 3: the CFO did also leave the company. But once upon

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Speaker 3: a time, Revolute was the darling of Britain's fintech industry

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Speaker 3: and has been seeking approval for a license now for

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Speaker 3: more than two years. Allow failure to gain this license

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Speaker 3: from Revolute's home regulators would pose an obstacle to the

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Speaker 3: group's ambition to expanding operations in other countries, and again

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Speaker 3: it will be another blow to Britain's wider fintech industry.

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Speaker 3: Rushi's su next government has really been championing that tech

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Speaker 3: sector there, so once again real problems for Revolute.

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Speaker 2: Yeah, I mean the criticism from the co founders of

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Speaker 2: Revolute about the UK post Brexit has been really stinging recently.

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Speaker 2: You know, they said, no one wants to hear about

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Speaker 2: Brexit anymore, but it's influence on fintech's undeniable and on

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Speaker 2: and on. So this is only going to add to that,

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Speaker 2: isn't it.

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Speaker 3: Anyway.

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Speaker 2: Finally, the Wall Street Journal has the headline office brainstorms

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Speaker 2: are a waste of time. Leanne will have to stop

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Speaker 2: coming up with ideas together.

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Speaker 3: Then oh, great idea. Apparently it's just not even worth doing, Lizzie.

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Speaker 3: So you know, no, I like brainstorming with people. But listen,

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Speaker 3: there's two sides to the story. Let's get into it.

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Speaker 3: Giving workers alone time could yield more innovation than getting

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Speaker 3: everyone in a room. And this is all according to

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Speaker 3: new research the brainstorming exercise. Apparently it is just a

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Speaker 3: terrible idea because the value of gathering to discuss loosely

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Speaker 3: formed thoughts is just apparently suspect. And this is all

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Speaker 3: according to research that's been done. Sena Ayanger, professor at

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Speaker 3: Columbia Business School, has actually compiled this research. She's written

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Speaker 3: a book and it says brainstorming is just a waste

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Speaker 3: of time. But you know what, the Amazon CEO actually says,

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Speaker 3: It gets people excited and they blurt out new ideas.

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Speaker 2: So who you're an extra.

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Speaker 1: Word depends how much time you devote to it isn't

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Speaker 1: it's comfortable if it's quick.

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Speaker 2: This is Bloomberg Daybreak Europe, your morning brief on the

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Speaker 2: stories making news from London to Wall Street and beyond.

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Speaker 1: Look for us your podcast feed every morning on Apple,

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Speaker 1: Spotify and anywhere else you get your podcasts.

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00:23:05,200 --> 00:23:08,840
Speaker 2: You can also listen live each morning on London Dab Radio,

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Speaker 2: the Bloomberg Business app, and Bloomberg dot Com.

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Speaker 1: Our flagship New York station is also available on your

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Speaker 1: Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty.

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Speaker 1: I'm Caroline Hepka.

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Speaker 2: And I'm Lizzie Burden. Join us again tomorrow morning for

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Speaker 2: all the news you need to start your day, right

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Speaker 2: here on Bloomberg Daybreak Europe