Brexit hits hsbc. The ceo said some bankers may need to move out of london. Manus activities covered specifically by european legislation will need to move. Thats about 20 of the revenue. Ipo, thering up for an all tax will be cut to lower investors in all options are on the table when it comes to the listing. Looking at new york, looking ,t hong kong, london, the u. K. All markets are being looked at. And the rise of populism. Our debate on the crisis of the middle class. That is live on bloomberg at 8 00 a. M. Anna a warm welcome to bloomberg daybreak europe. , im annain london edwards. Manus i manus cranny. Is at the World Economic forum. Looking forward to banking with the big thing, hsbc, we will hear more from them. That will be a big theme in the next 30 minutes as well. Francine we will speak to the head of the Investment Bank at ubs and berries ceos to try to get the temperatures on how they see risk and what their most concerned about. What im looking forward to is our panel