It is a really busy week. We have Global Leaders gathering in paris today and we will bring you the live shot of those arrivals and then we get onto the ecb. A Bloomberg Survey suggests that we are going to see a deposit rate cut. How big will it be . That is the real question. Mosul expected to go from 0. 2 to 0. 3. It to goeople expect from 0. 2 to 0. 3. Remember that janet yellen speaks thursday and we get payroll on friday. A really big week in front of us. How do we set it up. Thate we talk about all of , lets get you the bloomberg first word news. , the leaderse eu have agreed on a deal to help stem the refugee falls through the nation. Some people get a package of 3 billion euros in assistance for bolstering border controls. This as the eu is dangling closer that could bring for potential membership. Meanwhile, the russian president Vladimir Putin has announced measures against turkey. Russia has suspended their tours, banned the hiring of turkish nationals, and will block the sale of some turkish goods. The turkish Prime Ministers saying his priority is to prevent similar incidents. The chairman and ceo has stepped down after he was bail jailed indefinitely. The brazilian billionaire was arrested in the Worlds Largest corruption probe. He has denied the accusations laid against him. The u. N. Climate change conference kicks off in paris. The french president Francois Hollande will make the opening speeches. President obama is scheduled to have dinner with him tonight and congress aims to reach an warming. You are up with all that you need to know except for one thing, how is asia trading . Reporter good morning to you. Asia is not doing too well. It looks like we are where we are on track for another monthly loss here in asia. The regional benchmark index on track for its sixth loss. The shanghai composite has been in focus having that big fall on friday, down by 5 into brokerage stocks. It has been falling quite significantly, at one point down to 3 . It is clawing back a little in the last hour of trade. Still two hours of trade there to go, that hangs in positive territory, albeit flat. Elsewhere in the region, you can see there was quite a selloff. Nikkei 225 finishing down by 0. 7 . It was a little bit positive in the sense that we saw a retail sells beat estimates. We saw industrial output rising 1. 4 from september that in australia, mining was hit hard today and new zealand closed flat. If we look at some of the stocks we have been watching, these Brokerage Firms were where we saw the big weakness friday and were still seeing them today. Falling by almost 10 and currently down 10 . There is also alleged breaches of rules and shortselling contracts. This is how they are faring on the share market. Australia, shares falling to august 20 august 2005 lows today, saying they have not yet received a formal morning. The Electronics Retailer having the biggest fall on record on a profit warning. We have sustained a pickup that was hit hard last week. Its generally handing over the baton in terms of the week start in europe. Guy monday morning, week start, thanks for that. I kid. Lets get back to the eu agreement reached over the weekend. The European Council president setting out the terms of the eu turkey deal. X our agreement sets out a clear plan for the time that reestablishment of here. We will also step up our assistance to Syrian Refugees, in turkey, to a new refugee facility of 3 billion euros. Guy we are joined now by Russell Hayden and Ryan Chilcote is here as well. Significantith the significance of this deal with turkey. It seems to come into being. This will be a reasonably straightforward meeting. It is quite unprecedented. The refugee crisis is so threatening to the travel and other things that we have really push the leaders to do something. Put 3 billion euros on the table to turkey and they promise to accelerate and push forward the negotiations on turkey into the eu. Theyre supposed open another chapter in december and then push forward with more things next year. What do we hear about in reality, what do we really hear about eu membership . This has been stalled for quite a long time and they will open some critical chapters but how much further forward does this take us. It is a long process, but ince it has been stalled their opening new chapters, in december little open the chapter on economy and Monetary Policy. And they could even open the one on justice which would be a huge step for turkey given there has been so much criticism by the eu brother crackdown on media freedoms and human rights records in general. They are making positive noises for turkey, but they need turkey. Linchpin in the fight against the immigration crisis. Eus kind of in a box and they need to get turkey on board. Guy lets talk to ryan. By thections posted russians, what are we talking . Bout the entirely new bit is that according to the russian president decree that came out saturday night, the effective been on the hiring effective ban on the hiring of turkish nationals. The ban of these afree trouble for turks coming of visafree travel for turks coming into the country, and the ban for turks going into the country was made more formal. Hadcharter airlines that been taken russians to turkey and had effectively been self sanctioning ever since that russian jet was downed, in anticipation of a ban, they now have an official ban in place. There will be no russian charter flights to turkey until they change their policy. That on top of the food ban. Another effective food ban. All turkish produce that has been coming in has been effectively held at the border. We have a little bit more information. Look at a lot more on which foods are going to be banned. They said they will be analogous to the shenzhens russia imposed. Some of that coming from turkey will be taken off the shelves. It will come from somewhere else. That might lead to a little bit of Inflationary Pressure and will certainly lead to less choice in russias diet. Guy the world and everyone else is coming to paris this week, is there any chance this could sit down, what are the chances of reconciliation . Guy the chances are very difficult. You know that they are both hard minded men. President erdogan has requested a meeting with president putin, the russian president spokesman confirmed that over the weekend but said that russia had not responded to it yet. The russians have not come up with her official list of sanctions yet. One wonders if they are going to wait and see if that meeting transpires and if they will get that apology they expect from the turks. I think that most people agree that the chances for reconciliation between the leaders of turkey and russia at this point are not high. Guy i would love to be in that meeting. Thank you very much indeed, Brian Chilcott covering the russian angle. Good bring in charlie, morning. A huge week. Guy you have the front and dominated by the leaders coming together. Yellen speaking thursday and payroll friday. Very longterme which make an immediate economic impact. Crossoverdo get some as he pointed out. Things like china into the market. These things are very important from a longterm point of view, but in the short term will not have a massive economic impact. Policy, the monetary with the ecb there is a lot to debate there and then you are adding to the fed. The Financial Market is a big deal. The fact that we have two of the Worlds LargestCentral Banks in opposite directions, at the moment everyone has fingers crossed that it will be ok. But the potential for an upset or volatility along the way is pretty high. Guy what do you expect . 10 basis points . What do you have to do to outperform draghi . I am a 2020 men. They can play around with that and maybe they dont do more in terms of extending the duration they will do it for. But the key is the rate cut. Are,ore aggressive they the more it is a declaration of intent. Guy why do they have to do this . The eurozone looks like it is performing a little bit better. Why now . They painted themselves into a corner. You wonder if they have the Economic Data to justify it. Reporter guest absolutely right. If you look at the global disinflation or he forces, a lot of the big picture stuff hitting this threeyour target of close to 2 , they are all still headed the wrong way. China. Act of things like the super cycle pushing the effect on to the eurozone makes it hard to hit that target. The way i think they are thinking is if it is really successful, we will just go sooner. Guy go sooner now and worry about it later. Is shock and enough to shock and awe enough . Emphasizinge keep the swiss example. They went to very negative rates. They used to be worried about causing a distorted effect such as People Holding cash. , as you say some of the data is improving. If they went to 75, everyone would say, what is going on . Guy a very fine line. We will carry on talking about this throughout the program. As we have indicated, we have the cup 21 stock coming up. Thursday, the European Central bank has a Rate Decision and press conference. Markets betting on more stimulus from president mario draghi. Thursday, we also get fed chair janet yellen speaking. People will be really paying attention to what she has to say. Guy 19 minutes past 6 00 in london, lets get to the Bloomberg Business flash. Reporter the chairman and ceo downg has stepped indefinitely amid the countrys largest corruption probe after the Brazilian Supreme Court extended his jail time. Jpmorgan will leave its otis pool roughly unchanged. This according to people with knowledge of the matter will stop they bucked the trend with european competitors like much a bank which are preparing to cut pay out. Chinese stocks extended their biggest rout in three months. Amid concerns that investigation will hurt profits. They say it is being looked into for alleged margin financing allegations. That is the flash. Guy more than 140 World Leaders gathered in paris for the u. S. Summit on Climate Change. The aim is to agree on cuts for Greenhouse Gas emissions, but after a recent wave of terror attacks including the one we saw in the french capital, geopolitics will take center stage. Caroline hyde is at center stage. Will climate or terrorism and up the main focus . Caroline i think front and center will be diplomacy, security, the concern about terrorism. We have history in the making. Gathering ofiggest World Leaders ever. Just in just over an hour local time. Francois hollande has been speaking with the leaders of canada yesterday and terrorism is high on the agenda. Chinese nationals had been caught up in a wave of terrorism. We seen in egypt and molly and most notably here in paris. This gathering of World Leaders in the country in a state of national emergency. You also have plenty of diplomacy going on and put in angelasia will meet with merkel and netanyahu of israel and erdogan of turkey asking to meet with putin while he is here. The key is to plummet see and security. Ive never seen so many people miss early at a conference. Balls 50,000 people coming so no wonder there is a clampdown on public demonstrations. Detained than 200 were after we saw violence iraq yesterday. Down, roads and four police throughout the night in my small hotel 10 minutes away. Four police stations open 24 hours new the hotels. 15,000 police and those looking at the borders and custom offices as well. City really aware of the threat. But maybe this will help push a Climate Change deal because obama and many leaders saying they want something positive to come out of the gathering of World Leaders. Treaty is the not question. Lets talk about climate goals and what we can get. What is at stake . Stake is what is at the most significant agreement since the kyoto agreement. The copenhagen talks with the u. N. On Climate Change that ended in disarray and acrimony between the developed world and the developing world. Is in theirhe wind sales when it comes to the developing world clamping down on Climate Change as well as the developed nation. We now have the number one polluter in the world backing some sort of cut on emissions. Day, are 4000 people per per day who die in china because of air pollution. Can you even imagine that . The berkeley Climate Change consultancy saying they see 4000 people dying per day. Is looking forna a deal. He wants to help lead the charge with india looking to ramp up and scale up their ultimate Overall Investment in solar. We are likely to start to see an agreement to increase the Global Temperatures to ensure we do not see sea levels rise. There are some key challenges. The wind in their sales with the cost of Renewables Coming down, but there are three key things i want you to keep on your mind. What will the legal basis be of any agreement . You know the United States will not want any legally binding agreement because they do not know if they can get it to the senate, and had you wrap it up . How do you ensure they do not just become targets for 2020 but keep on improving . 100 billion have already been promised to give to the developing world to offset the economic damage of a move that renewables. 100 billion and emerging markets per year. Three key things that need to be sorted out during this time. Guy the head of rates and multistrategy income still with us. Our that markets downplaying this too much . We have the fed and the ecb. Carney was out a few weeks ago saying you need to Pay Attention to this as well. Guest think he is time scouting. There is potentially a median shock to market. This is the longterm economic viability of the planet. Ands years and decades difficult to get too excited about. Guy even in the longterm, it starts with the bigger institutions and they start thinking about it . Guest this is the kind of work we do it our institution, esg, environmental, social, and government work. How this will affect the global basis over the next 30 to 50 years. If it is left unconstrained, the changes globally will be huge. Guy up next, we will talk about china and the yuan, and the imf. The big move, we will come back and a moment. We live in a pick and choose world. Love or like . Naughty or nice . Calm or bright . But at bedtime. Why settle for this . Enter sleep number. Dont miss the ultimate sleep number week going on now Sleepiq Technology tells you how you slept and what adjustments you can make. She likes the bed soft. Hes more hardcore. So your sleep goes from good to great to wow give the gift of amazing sleep, only at a sleep number store. This week only, save 50 on the ultimate limited edition bed. Hurry, sale ends monday. Know better sleep with sleep number. Lets get to our bloomberg first word news with Ryan Chilcote. Reporter turkey and eu leaders agreed on a deal to stem the flow of refugees to the nation. Turkey will get a package of 3 billion euros in assistance. This as the eu is tangling rewards that could bring them closer to potential membership then at any point in the past decade. Vladimir putin announced measures in the downing of that jet last week and they are ,uspended travel, halted tours and the hiring of turkish nationals. The turkish Prime Minister criticized the sanction saying his priority is to defuse tensions and prevent similar incidents. The Climate Change conference kicks off in paris today for Francois Hollande and ban kimoon who will make opening speeches. President obama is scheduled to have dinner tonight and the conference aims to reach an accord on reducing Carbon Emissions to curb global warming. French authorities detained more than 200 people after protests in favor of a global Climate Change accord. Demonstrators threw projectiles at police amidst clouds of tear gas. France will on said they have nothing to do with the environment and were there justice to wrap trouble. David cameron has stepped up preparations for a vote in parliament against ash for stepping up airstrikes against the Islamic State in syria. Fors drawing up a motion the vote is ministers appeal directly to lawmakers. Corbynor leader jeremy opposes airstrikes saying attacking the Islamic State in syria at least a civilian casualties and fuels extremism. Guy markets, a big week for markets. Lets get the latest on jonathan ferro. Jon a massive day for markets at one point in china and another day of losses. And we turned that around and he raced all the losses on the day. Theme, the big one is dollar. You know what fed chair janet yellen said, she slept it back down. Thats with the market has been over the last month. The eurodollar headed for its biggest monthly drop since march and gold since 2013. And wti crude averaging under 50 a barrel all month for the fourth straight month. Going into a will be about euro weakness. And the consensus is. 3 on the deposit rate. Guy i cannot wait for thursday, janet yellen and druggie. And draghi. In officials gathering washington today to talk what the story john and i have been talking about. The dollar and what happens next will be determined today. If approved, the u. N. Would sit alongside the dollar, the euro, the pound, and the yen. Asia watc