Lots of breaking news coming in, we will have numbers from daimler coming in. Let us deal with the swiss drugmaker roche. Thank you. Just a few numbers coming in at the moment. , theymonth sale number have raised the outlook. Rise in a sales concentrate grade if we look at pharma sales cynically, we are looking at billions of francs. We are seeing sales growth in the middigit single range, we are waiting for more of these headlines to come through. This is the swiss drugmaker of course that is actually the worlds biggest maker of cancer drugs trade i. It is really trying to count on new products to try and offset generic competition for some of its aging cancer blockbusters. We will see if more comes out, but right now ninemonth sales coming at 35. 5 billion francs. Anna later this morning we will be speaking to the roche ceo, the first interview of the day. Deliveringe action on targets. That is something you need to Pay Attention to. I would say the details in a moment. Also out with the numbers which they call strong, heavy in the engineering sector. We will find out what is happening in the engine sector globally. And whether the story will have any impact. Anna that is that 6 45 here in london. Zod we will talk about aks nobel in the first interview of her day. Guy what is going on an asian markets this morning . Standing by with details in hong kong. Good morning to you both. We are seeing perhaps a down day from a twomonth high across the Asian Pacific. A few markets closed, indias] and markets in hong kong are resuming trading. Take a look at the Asian Pacific index, lower now by about 3 10 of 1 . We are taking a look at the opening of the Chinese Markets and closely following the stock movers today. We have a lot of movement in the tech space. These are the stock indices, how they are shaping up right now. Australia, one of the leaders, advancing 3 10 of 1 . We are seeing movement in singapore on that index. Onshanghai, a modest move the composite. A very modest move in wellington on the index. China,g out hong kong, nearly 1 on the key movers we are watching. Lenovo group the big computer maker, china mobile is the worlds biggest mobile phone maker. And we watch oil prices very closely continuing under pressure. Farther north, trading like this. Topix falling, and saw the tech names as well as commodityrelated shares, fujifilm is down in that session. But bucking the trend, we are watching chipmakers very closely. Several key movers to bring to your attention. What we have, what youre watching your a bloomberg at this hour. Asian movers include this nice 60 gain for that stock. Rising in the session today, shares are rallying the most in 29 years. It rejected a takeover offer from another partner. Advisory firm that manages assets for middle easterners. A lot of impact on the impact of Lower Oil Prices and this impact on the royal situation in those monarchies in the middle east. Oneatched that close agreed of those tech stocks we have been watching closely, tech related shares and engineering shares in korea plunging the most on record. His company is the largest engineering project, reporting a loss. To shore upied finances, about 70 . They posted an expected thirdquarter operating loss. There is talk of a merger with samsung. A heavy industry down the line. Let us take a look at the major south Korean Semiconductor maker. Shares down as the latest results not meeting analyst expectations. Or investor expectations. Missing estimates, a week Global Demand has depressed prices. Outlook is and the one that many are questioning, given this time of consolidation and technology and depressed prices breed we watch this closely. Remember, we have had 76 billion so far this year. Quite a big number. Back to you. Guy thank you very much. The view from hong kong. Anna the European Central bank holds its penultimate session, in the run up to todays meeting and malta, mario draghi and his counsel has said it is too early to decide whether to expand their bank buying program. He plans to show that he is more than ready to step up, without panicking investors over the euro area health. We are joined on the phone by bloomberg ecb and euro area essandro. Alassa what can we expect from mario draghi . Essandro it is a complicated balancing act. He needed to send the message that it is ready to ask and send the message, this is what the market suspect. But at the same time, he does not want to fire all the bullets now. Because in the one hand, if he is already doing qe, and at the same time most people in the governing council seem to think that it is too early now. Their son of data to act now. Guy if not now, when . Essandro in december, the ecb will publish new forecasts for inflation. The policy makers will be up to assess if the inflation in the euro area is going up towards the goal at just under 2 . Lookingergy prices are over to the rest of the economy, and the euro is again risking falling into deflation. This may be a key point to evaluate the new attitude of how things are going read and to make a decision in that case. Anna thank you for joining us. Speciale. Guy the News Conference starts in malta at 1 30 p. M. Before that, we have an exclusive interview with the chair of the ecb supervisory council. That is around 10 00 u. K. Time. A big day. Anna let us bring in david owen. What do you think, then . Is it too early for signal today to get a mini signal about what is to come . David dovish talk and rhetoric. A saying, obviously, they need to produce a new forecasts. They could do so in december. But the fed, takes the decision for the ecb. In a Perfect World of course, it wouldnt do anything in december. The fed wouldve already made a decision, and the daughter would have fallen. Anna all of the best laid plans. David exactly. But the feds meet until december 16. It would not be so surprising if we get a decision from the ecb delayed into january. Let us highlight those meetings on january 21. For some time away. But the fed decision is slightly complicated, has a weaker euro not doing anything at the moment. The eurozone is recovering. Inflation is below target. It is basically flatlining at around 1 , which is where it is at the u. K. And pretty much a similar bases in the u. S. , as well a. Nd, if weeare dont get anything, to be creeping higher. David just grinding higher. At the end of the day, the Exchange Rate matters hugely for the ecb. It is only one part that goes into the reaction function. The economy is still recovering. It are certain signs of core inflation picking up in certain tugalries portabl islands, it is certainly growing higher. Slowly but surely. Anna you stress in your notes that mario draghi will need to highlight limitations of Monetary Policy. I was reading a study recently on the fundamental essential banking that talked about this very subject, that Central Banks alone cannot be relied upon to deliver all of the policies necessary. It is something weve heard so many times before. Do you think the governments need to do more, or are you talking about other tools the central bank could use . David germany, we can highlight them in particular. We are not the only one saying that. They can obviously borrow to invest. These seem crazy that they are not doing more. That will help stimulate generally around the eurozone. But the ecb, they could widen out. Not simply by sovereigns but by more related corporate debt, possibly maybe. Also, the banks are very important to the ecb. They are very important. Going into that, they can do more to help the Banking Sector. Guy is the ecb making a mistake not going down . David i dont think so. They can afford to wait another month. Guy what is that really do . Why not go large, we will do whatever it takes . David they are buying inside. And it is having an effect, coming through to monetary data, it has been putting up until august dipped again. even the poor guys are beginning to signal nervousness. David even though we are so much further up the cycle, so you, easy oft of yoint of the structural progress. All of those sorts of things. Making additional currently not an issue. Other kinds ofe institutions to drive that . Are we being clever enough . David the strongest example is that we will leverage the investment. The ecb to be part of that. But it needs to be more ambitious. At the end of the day, they need a much stronger euro zone economy. It is growing, but in real gdp terms at least at the end of the day, the to be slightly more ambitious. As they should be more generally, there is a limitation as for what Monetary Policy can do. Anna maybe the germans have been watching the Canadian Election and thinking there is a different approach. David, thank you. Guy right. What are watching for the rest of the day . That allimportant ecb decision. 3 00 p. M. We get confidence figures from the eurozone. Including microsoft, amazon, and the Google HoldingCompany Called alphabet. Guy coming up next , David Cameron hails a new era with china as he welcomes the president. We will have details on the big deals on our return. Anna welcome back. 50 minutes after 6 00 in london. Guy the europeans interbank calls its penultimate session, in runup to the meetings in malta. Mario draghi and his counsel said it is too early to decide whether to expand the 1. 1 trillion euro bond buying program. Mario draghis challenge is to show he is more ready than ever to step up stimulus, without actually panicking investors over the euro area health. Anna mark carney says evidence suggests that britain has harnessed the membership of the union. While avoiding some of the drawbacks. Last nights speech has been hailed by George Osborne as being in line with the governments approach. Guy washington has criticized the red carpet treatment given to president Bashar Alassad in russia. He said it is at odds with the kremlins goals in syria. It is his First Official foreign trip since the fighting broke out. Anna china will invest in the First Nuclear power plant in a generation. David cameron announced the deal on the second day of the chinese president s visit. David we are signing a Historic Deal to build a Nuclear Power station, providing reliable and Affordable Energy to nearly 6 million homes and creating more than 25,000 jobs. All the while working together to build a low carbon future. Guy let us get more on the visit. And what we can expect. Talk is the deals we have had thus far. Sure, that nuclear deal was very much the headline that was announced yesterday. It was basically china securing a state in electricity to the hinckley object, britains First Nuclear power plant in three decades. In the most expensive Atomic Energy station ever. That is just one. Following from that, we were told that rolls royce would develop an engine with chinas group. A joint venture on cruise ships. A 10 billion deal over two decades. And they were signed between universities and companies. So really a slew of deal. We have heard phrases come out from ping calling it an interdependence between the u. K. And china. The u. K. Wanted to usher in a golden era. They talked about a new era in ties. You can also ask if this comes at some cost. The uks biggest producer actually blamed his decision to cut 1200 jobs on a flood of cheap exports from china, which actually produces about half of the worlds steel. David cameron said the deals would create about 3900 jobs in the United Kingdom. Anna what else is on the agenda . What is left to be done . I dont think we are expecting anything on the scale of what we have heard so far. Today and tomorrow, later today, ping will be meeting cameron at checkers. It is part of a lavish welcome we have seen all week that saw him have dinner and stay at Buckingham Palace and well. We have also seen him going to the confucius institute. And he will be flying to manchester later in the day, he will be there tomorrow with David Cameron and George Osborne. He is meeting man city and attending at airport at manchester international. We will see if anything comes out about the contribution, or even just comments about what it thinks of David Cameron and George Osbornes plan to greater Northern Powerhouse. Anna thank you very much. He will upset a few united fans. Guy i wonder if you will get fish and chips . People have talked about with there is a connection the Northern Powerhouse story, which will pick up later. We have kim oneill leading the charge at goldman sachs. Leading the charge on the Northern Powerhouse, what is the chinese involvement . Hes a big supporter of manchester united. Guy the red devils. Mark carney has waded into the brexit. He said britain had benefited from membership in the union, while avoiding some of the downsides. Mark broadly speaking, the evidence suggests that the kingdom has exactly hardest the benefits of openness afforded by eu membership, while avoiding some of the drawbacks and reduced flex ability from which some continental economy suffer. It is important that actions to complete Monetary Union be taken with regard to their impact on all members of the European Union. And for the bank of englands perspective, steps to assure Financial Stability for those with in the euro area should not impede the achievement of Financial Stability for those without especially in the United Kingdom. Guy david owen, chief european economist at jefferies. You think he is more in favor . Or is he actually on the fence . David he is not on the fence. He did not come down on one side in terms of a definite answer. You read the 100 page document that the Bank Released at the same time. It is very clear that they probably worry about the risks. Guy definitely leaning on the lets stay side. David the bank of england produced new methodology about bank stress tests. You worry not just about Monetary Policy, but Financial Stability. What happens if the u. K. Was to leave the eu . What happens to the Banking Sector . These are things which are in second but august the, they will be thinking should we stress test the banks about what we do if we should exit . And you get the Scottish Referendum coming up again. These things will be a concern for them. Earmy mind, it is cl oupt the eurogr reformed itself. Anna mark carney described this as a bit of a yawm. Trying to downplay any involvement in politics, longing for the days in 1975 when you could have the debate. Guy are you kidding me . This is a man who is stuck his oar into every little debate. Anna he was the one who downplayed it. Guy but he loves getting involved. David of course he does. That is probably right. From his point of view, the bank is no longer. The Financial System in the u. K. Is so important. We just came through banking crisis. The worry is, what happens in an exit scenario to the Financial System . You know, we need safeguards in place. The speech for the right reasons really. Anna there is some Contingency Planning to be done. David absolutely. It has to be. How long would the process take . What happens to investment flows . Guy what is the deal . We do not know the rumsfeld moment. We have no idea of what the deal will look like . David on balance, were probably better in. But how do we stay in . And assistant at reformed . That is what David Cameron wants, in a sense. They have the same message. The report. Not read i dont know what im doing with my time. [laughter] charts. Ots of good anna what about capital flows . We do not know what it will take. But some of point out to become a cannot be the end of 2017 because we have the presidency. That would not work out. Capital flows, our investors going to be pragmatic . Whatever happens politically, the market in the u. K. Still exists . Or are they go to say this actually overrides everything . There,the chinese deal you have money coming in to the u. K. But i do wonder if we get closer, do people step back . This is a much bigger deal. I think we will see on the margins of the capital flows, beginning to pause maybe for a breath. But this is not an issue for the u. K. This is for the more general eu. They do look at the eu and say it is also big, is losses secondlargest economy. At the end of the day, it is an issue for germany, france, everyone else really. Guy david, we will he be there. He is back in a few minutes time. I will go away and read the report. Up next anna many are inspecting daimler to report strong car sales. Could they be hit by the volkswagen scandal . Warning that the whole industry could be impacted. The paine no joy from of the price. The level of regulations and compliance engagement within the industry, which will be forced on us because of our breach of trust to the public, is going to be tremendous. It will go up especially from here. I just had a horrible nightmare. My companys entire network went down, and i was home in bed, unaware. But that would never happen. Comcast business monitors my Compa