Welcome to countdown. I am mark barton. I am anna edwards. I am manus cranny. We will start with strong words on russia. That annual speech is usually a platform for major policy statements and ceremonial trappings, cameron did not disappoint. He condemned Vladimir Putins actions in ukraine and sanctions he said were not only right but in the uks economic interest. Russias actions oppose a grave danger to the rest of europe. Here in this building, with its history shaped by the blitz, we should not be reminded of the coincidence of turning a blind eye within countries in europe believe smaller countries. Chilcote joins us. Are there more sanctions to come . There may be. We will find out on monday. We heard from Angela Merkel and she is the first to suggest that sanctions should be expanded so we heard from the americas yesterday. We heard the british Prime Minister say if russia does not change its actions, there must be more action to take a listen. Has warned we are on the brink of a new cold war. Thats not an outcome we believe to be inevitable or one we seek. I will make it clear to resident putin this weekend. I will also be clear that if russia continues on its current path, we will keep pressure and russias relations with the rest of the world will be radically different in the future. Russian action in ukraine and you could argue that really has not happened if you believe what some of the western countries are starting to believe. We saw tanks that may have come from russia in the next as the pressure donetsk and the pressure continuing. Theas after the election in east of the country that the german chancellor started talking about the need for more sanctions. Wouldve had more aggressive action from the militants. Is monday, expect and is almost complete, a lot of countries believe there has to be some action. Is it going to be sanctioned like or will it be more aggressive . Cameron goes on to say there russia poses a grave danger to europe and the stock market has dropped. They have had an impact on the currency, happened today . There are a few things. The issue of funding for banks is certainly something that has been a problem. That is a direct result of the sanctions. The problems with economy and the stock market and the currency have also been impacted by the sanctions. As we discussed many times i so have they been impacted by things like oil and concerned about the economy from russians and themselves and to explain the capital flight. He is right that sanctions have on the russian economy. A bit of a perfect storm situation and cameron and the other leaders can thank the fact that we have a falling oil price. Wci down. Thanks for the moment. Tensions between russia and the west will be after the apec summit in beijing. Stephen engle is live. President putin and obama sharing a brief, frosty encounter . Would nothat scheduled to have formal talks, anna, but they had a brief, informal conversation, publicized as they call it in diplomatic speech. They exchanged a few words but no official talks, none scheduled either. The Obama Administration said it did not allow the two men to discuss any issues certainly not ukraine. It was the same for putin and tony abbott at aipac who had boasted last month he would putin with a short front over the crash of the malaysian flight over the ukraine and no such chest but happened. They had a cordial i guess it described as cordial. I. The interpersonal drama with so many of the World Leaders and the greatest economies represented by their leaders and Vladimir Putin made the at is the most intriguing part. And obama with the rivalries. And xi and shinzo abe meeting. Shaking hands with the gloom faces and x and putin trying to show their friendship that is more than gas deals. Reportedly, putin showed some chivalry at the dinner last night by casting his jacket over the shoulders of the first lady of china. Something caught on the camera by local media been scrubbed from the internet after many jokes that it happened in wife. S was hitting on his a lot of interpersonal charm a relay out. Absolutely. One of the ones you refer to has been innzo abe office is 2012 and he is not met with the Chinese Government in that time since it is their biggest trading partner. The changes are very obvious between the two. What else have we got on the agenda . Yeah, they are trying to bury a long history of animosity between japan and china and it was the first step. Xi jinping in his mandate. Shinzo abe had more difficult problems with the economy that he had to handle since coming into office. Opportunity and not a pleasant meeting for what was happening behind closed doors, we are not sure. They is that was that they met and shook their hands. What else is happening. Xi jinping pushing his original trade pact while president obama flew in yesterday and immediately, almost within hours, he met with his partners if you will for his proposed trade, tpp. Two sides pitching the difference traits. Putin, by the way, endorsed a beijings raposo. That is another development. Is in the United States that they have a breakthrough in Information Technology agreement with china which could open up for trade a very key products. The u. S. Is claiming a victory there. Had potential one trillion tag on that. Do not think of hitting on your hosts wife. I will remember that at the next summit i go to. I missed that one. I was feeling a little friendly. She never hugged me. I am speechless. That is why i sit in the middle. Cominger up later the chief executive as they report earnings. Ls, first on bloomberg. You can join the conversation. Tags for us. Three he is coming off the ratings, anna. A probably inappropriate tweeted this morning. , inappropriate. The ecb could be ready to buy asset purchases by next week but when well see what long qe and we will put that to our next guest. Time for company news. Londons two biggest airports are head to head with rival bids for expansion. The Airport Commission will consultationlic with the latest calculation of expansion plans at heathrow and glass with. A final recommendation on which is not expected until next summer. A shakeup in uks payday loan market. There may be priced caps on along this morning. Earlier this year, the regulator said it was planning to him at Interest Rates on shortterm loan to 0. 8 per day and was considering cap the total fees and charges at 100 of the loan. Blackberry is interested in expanding into china. And striking a new partnership deal, according to the ceo. Hes already met the hats of the corporation and heads of the corporation and lenovo. China was the largest market. Opportunity where somebody would like the technology and somebody could use some of the technology and products and all of that is not really friend at this point. I am looking at this market and i know it is important to this market. I know privacy probably will get more and that is what we do best. Obama. President barack and Vladimir Putin greeted each other briefly after the apec summit in beijing. The u. K. eu and United States have directed to tighten have sanctions to tighten against russia. What does it mean for the economies involved . Jointly is full of sure. Joining me is philip shore. The economy grew barely. What does an escalation of tensions between the west and andme for primarily russia mean for primarily the economy . For the eurozone as a whole, it should not be a huge impact. Eurozone exports to russia are under 3 of total exports. Fundamentally, it is not huge. If you go to specific economies, that is different in particular the Baltic States plus phil and and they are being hit finland and they are being hit very hard. Front,he economic removing tariffs from 19 isducts into china and that progress report. A lot to focus on big trade deals. Whether at the apec summit word transatlantic, do they hold a not iney or are they focus at the moment . It is autely, longerterm thing. More free trade could be a good thing. The reverse on tariffs and sanctions. What you want is more free trade ocs and inrious bl these things take time. Great potential for the global economy. Chris one of the big relationships that obama focus on was [indiscernible] most of the intellectual capacity is building the relationship. Chinamportant is that u. S. Axis for growth to america . It is. If you look at european trade numbers, a big increase in export to china from countries like germany, the u. K. Numbers have been quite strictly. Quite striking. Seeing rapid expansion a very much in the same in and if you are exporting to europe, your market is sluggish at the moment a you need to find more dynamic areas. Not just now but to keep your industries going. One of the deans ecb will be keeping an eye on. In light of the meeting mario are you intouch suggestions of internal strife within the governing house . Theres certainly a lot of tension appearing between mario draghi and individuals on the governing council. , a lot of thesay stories are probably true. Having said that, drive he is in charge drive he mario draghi is in charge and he said we agreed on a lot of things. A good dinner. [laughter] agreement. The ecb saying, they have covered bond buying and ready to buy assets. The asset buying program . Started thet really yet. I think the program is an interesting one. Saying, we can make most more liquid and get credit flows going. I am not sure how thats going in terms of the securitization of the loan. Is a interesting that it big capital charge that the bank holds. The centralbank is buying either directly from the banks or the collateral with the ecb. It will actually free considerable capital and that is toonstraint to lending corporate sector and that should help economic growth. If you take steps, it takes time for asset buying a enough negative Interest Rates. A whole lot of unconventional measures. Thatwould you read reasonably expect inflation to bottom out and some type of turnaround in growth . Here, we ask, when is it going to happen and why not do qe . What is reasonable to expect . The first question is, is it going to happen . It will happen in a reasonable timeframe. We are now looking at the japanese situation. Difficult and we will probably see something more visible in the Second Quarter of next year. And it is no magic bullet here in terms of driving the economy and pricing forward. You have a number of policies coming together which should be traveling in the right direction. The fact that in these big asset purchases have been witnessing weakening the currency. Having an effect on the currency. Philip, stay with us. Mark carney, 500 days governor. A bit of an anniversary. It comes with the Inflation Report. That is coming up. Welcome back. This is countdown. I am mark barton. I am anna edwards. I am manus cranny. Is here. Shaw the 500 Day Anniversary of omar carney mark carney. We have talked about what he has achieved. Operations anded produce forward guidance. Maybe he will focus on the meetings next rather than have a meeting at the beginning of each month. He should push it back to every six weeks. Do you see that happening . Is at the next push . It is quite possible. It is something that has been talked about. Interesting that the fed from in the ecb is moving 12 meetings a year or 28 totings in 2015 a year eight meetings in 2015. That might be an appropriate time to move it. Having said that, it is a financial crisis and you are quite happy at having a meeting every month. It is not to change policy and in between meetings, you have more emergency meetings which is not good news. I can see the argument on each way. What about the Inflation Report expected tomorrow on his he willy and maybe reference it. What type of forecast do you expect to see . Downgrade Inflation Expectations . On growth, i do not think we have seen a big change. Arguably, you are seeing a little bit of a slow down in the Manufacturing Sector compared to four months ago. We were saying expecting some sort of slowdown in the second half of the year. The Growth Outlook looks probably the same as it did three months ago. On inflation, it is very different. We have had a dramatic fall in prices. To comeave continued down. More competition and superstores. Inflation down at 1. 2 . I would imagine that the bank of england will lower its inflation projections. And that would be consistent with a rate. Talk about me about the position. Ready billion pounds worth of cuts. Have we forgotten theres a bit of a deficit problem . We have. The deficit is very much an issue. Probably looking at it a little bit below 150 billion pounds. Must months numbers suggest it is lower than the previous one. A sustainable fiscal policy aide to keep your foot down and absolutely [indiscernible] great too happy you with us. Philip shaw. Thank you so much. Coming up, you may have heard of it. Singles day. Alibaba certainly dead. The giants. S for alibaba certainly id. What it means for the giant. Welcome back. 6 30 a. M. In london. It has turned around. It was a little bit lower through the session as you can see. The bears will take comfort. New technical basis, when york went home. Is ready to buy assetbacked securities as part of the Stimulus Program next week. Stringent when it comes to quantitative easing. There is no decision to buy government bonds. Step towardser taking the currency a little bit lower. That is the euro, a bit flat. Yen, weakening, heading to the seven year low which is 115. 59. Berkeley say that the recent that correction is more or less complete. Their view is we run up to a number of roadblocks or speed bumps in terms of dollar yen. Growth numbers for japan on november 17. Doeswill evaluate what abe with the sales tax. Dissolveay decide to parliament and go for a vote before christmas, december 14. No attribution on that. The bloomberg con stories. David cameron used his speech to warn that russias actions in ukraine pose a great danger to europe. The prime investor says sanctions on russia are morally right and in the u. K. s economic interest. Russias actions posed a grave danger to the rest of europe. Here in this building, with its history shipped by the blitz, we should not need to be reminded of the consequences of turning a blind eye when big countries in europe bully smaller countries. Beenesident obama has meeting his chinese and russian counterparts on the second day summit in beijing. Encounters with one more hooton where brief and informal insrding to put spokesman. While obama has been in china, he has called for the strongest possible rules to protect the open internet. Companies such as comcast, verizon, and at t argue that only light regulation is needed. Obama says there should be a ban traffic. Anes for web weather use a computer, for phone, or tablet, internet writers have a legal obligation not to block or limit your access to a website. The captain of the south korean very that sank in april has been jailed for 36 years. He was found guilty of professional negligence for not doing enough to save passengers. 304 people died in the disaster. Prosecutors had been seeking the Death Penalty for lee, who was found not guilty of murder. Singles day. For the chinese retailer alibaba, it means business. The ecommerce giant has already topped that figure for this year. Here with more. It has taken the headlines this year is the biggest ipo ever on wall street. How does that tiein to its singles day ambitions . The company has global ambitions. They have already conquered china. And nine at 10 of those people with alibaba. They are wellpositioned. They want to take over the rest of the world and this is if you will the vector they want to do that through. Singles day, double 11. It started at as this holiday that students came up with for thenn the 1990s and alibaba got hold of it and commercialized it. And now they want you and you and all of us to celebrate singles date. They have a couple website set up to help them do that. If you go to the main site this is happening on you will that it is indid chinese. Ali express,y they are also in portuguese and russian as well as english. Ali express is the Biggest Online shopping site, so says the company and brazil. What you will discover is that it is not going to be easy. Have you gone to ali express . It is a slightly complicated side to get your head around. Get your head around. You have amazon and ebay. We did a survey last week in the United States of online shoppers. 3500 served and two out of three had never heard of ali baba. Despite the fact we had this huge ipo. It is something that resonates with our crowd but not necessarily with choppers on the street or wherever they are shopping. Analysts saying if they want to get traction with this idea of all of us celebrating singles day because it is kind of nice because it is selfish and everything. I yourself a present. A holiday where you are supposed to pursue people, kind of like ballantynes day so i might i something for you but everyone through the hands of and we will buy for ourselves. It is for bachelors and spinsters. A derogatory term. Are trying to increase the profile of this. There is nothing that International Retailers like more than another day when they encourage you to buy presents. Is the deal with the International Community on this one . Rex they get another opportunity to sell a stuff on this holiday which is, whatever, fine. The big opportunity more immediately, while ali baba is in the process of rolling out cole,press, kenneth allco, they are cooperating on double 11 or singles day. The challenge is clear. If you look at the scoreboard. Throughout the night in china they have had a good essay big scoreboard. They have had a big scoreboard. About theyng show the topselling brands. At it. At look the mobile phone maker was the biggest seller. Apple was fifth. It is still make it place where Chinese Brands are supreme. And so if these western brands has madehich is inroads but other ones like american eagle, and i went to their website, they have a dogs apparel line coming out. There is a lot of dogs in china as well. If you want to sell your dogs apparel this is a good opportuni