A very warm welcome to the pulse. I am manus cranny. Go, than 48 hours to scottish voters head to the poll and decide whether to become an independent country or stick with the union. David cameron made a final plea for no vote. His opposition leader, edward miliband, its set to do the same thing. Alan crawford joins us. You have got to say, it was a lastditch impassioned plea by the Prime Minister. Well, the first indication we had is the herold newspaper has come out for no. In that sense, she has of the result, but yes, and impassioned plea. Anythingd to imagine like this. The Prime Minister pleading with scottish voters to stay with the union. Very much a heartfelt message. At one point said even if you do not like me, i will not be here forever. If you do not like the conservatives, they will not be here forever. If you vote for independence, there is no going back. He said it was no each trial a divorce. What it was impassioned to be followed by the opposition, ed miliband today. What is the latest on the campaign trail . I watched salmond and his counterpart darling and they were talking about is being a very dirty moment. There was a split between the parties. Certainly, there has been rather ugly accusations of internet of bullying and so on. My experience in edinburg a which is [indiscernible] very peaceful demonstration foryes. At the same time, there were groups of people, vigorously debating the issue. Ye re acutely aware they are acutely aware that in the eyes of the world are on a them. We just heard a Government Official in spain. If it was a quiet resolution of building behind, it is hard to predict. Certainly, the yes campaigners are in the worst course today or the vast majority of the population lives in discounting. Allen, thank you very much. Alan crawford in edinburg. Minutes, my conversation with i financial author. He said an independent scholar could become one of the richest nations on earth. Why . Well look at that question. Of Political Uncertainty in france. One of the toughest weeks before resident hollande. Faces a confident vote in parliament. A failure to win could plunge the country into new elections. Manuel said in the french still have faith in their president. I do not believe it is the knowt and i even do that i if there exists a moment to question the president elected. I do not think that is the moment. To question. Proposing the resignation of the president or the dissolution of those who loveof governed and of spire to govern. Is up against another challenge this week. He has to meet the press on thursday following his exgirlfriends tell all book. His Approval Rating is hovering around 13 . That make some friends most unpopular president frances most unpopular president ever. If you have not noticed, it is London Fashion week. Burberry shoulder their latest on looks on at the catwalk. The First Flagship show for christophero, bailey. Guy johnson asked him if his main concern is taking risks on the runway or the bottom line. Are indistinguishable. We have to keep moving forward and do new things at have innovation. And we create something we believe in, so our customers get excited. Is of the pressure to take risks growing on the catwalk . It is always the same. To have basically 12 minutes inspire people. Sometimes that means you may do something unexpected and sometimes the feeling is it you want to do something more familiar. This business is about feeling and emotion and that has to then turn into something very tangible. Which is what . Emotion that turns into something tangible. Bit part ofy is a something we are doing. Instagram, everything. In terms of the story. Is it turning into an arms race . Is burberry known for its technology . It is indistinguishable today. A company cannot just live in a little siloed world. Technology is hugely important for a is as is music and craftsmanship. It is about being curious and making sure you are part of things happening and make sure partnerships and build longlasting ones. It can be with craftspeople or Technology Companies or musicians. If you ever wanted what standing by the ceo like that is getting a nervous. Caroline hyde joins us now. Interesting that the bailey, he personifies molding. Revamping a brand and delivery stellar stuff on the catwalk. Is Fusing Technology and fashion. Creativity and having to answer to show holders. And hehe chief executive is under a lot of pressure, is a team . The last time he isnt he . The last time he met with shareholders they voted down the 20 Million Pound buyback package. It fragrances, the face of is on the front row. Inspirationg for for his overall runway focus. Always destined there also experimenting. They were also experimenting. She had a musician. Had a musician. It was more about the makeup. Immediately on twitter. Not just burberry doing get. Cap shelf also experimenting. Top shelf experimenting. Democratizedppets, London Fashion week. They love that word, dont obey . And dont they . They were able to see on facebook first. [indiscernible] [inaudible] t o top shelf has always pushed the envelope. We are talking about the amount of Fashion Technology in london bring boutique ways of selling things. It is all of about taking get off of the high street and getting us to buy immediately. When you talk about buying is the risk. They had a fire warehouse. Whether it is a profit warning. Personifying the volume play online, doesnt it . It shows the amount of money we have to invest. Do not have toou put cash into brick and mortar. When you get as big as asos, you have to invest in a way of getting that clothing out of your Distribution Center. It had a terrible fire june 20th. 20 of the inventory was over went. Clearly, that issue. Wasr 20 of the inventory uin was ruined. They are trying to push into china. You have to be clever trying to push into these markets. [no audio] they have to not just look at when you on the runway do is a u. K. , have to see eight or nine or 10 different ways of viewing the products was that they want to touch it and feel it. They have to be novel and of the ways of that are looking at different markets and penetrating and investing. That is why profit is not going to go up next year. Look at therefore a share price. A 5 drop. Millionis more than 3 3 billion pounds wiped off. It has been a poor red 2014 but a great decade for asos. 2014, but a great decade for asos. Would you buy that new burberry trench coat with the new colors or the traditional . The butterfly colors . I am still going the traditional. Maybe a little bit of gold. And the black nail varnish. It is on facebook. Black nail varnish. Yes campaign. That is the argument. Find out why our next guest think an independent scholar scotland could become one of the richest nations on the earth. Time to our big focus. Less than 40 eight hours a goal, scotland decides. They will decide to become an independent country or stick with the union. Our next guest said it has all of the hallmark, all of the hallmark of the characteristics to be, the richest country in the world. The richest country in the world. Scotland is going to become over this road, all of the ingredients to become the richest country. If you look at the richest countries on per capita, the cia all havend world bike a list each year in at the top the likes of brunei, norway, singapore, luxembourg, switzerland. Some of these countries have gotten their wealth because they of they as some because have turned themselves into Financial Centers. And the regulatory options that were chosen to turned themselves into Financial Centers are available to other countries but the one overriding characteristic of the all of the top 10 has is a theyre all small. Populations of less than a 5 million except with the United States which is ninth. Lookcotland, if you take a of scotland, it is small. Of less than 5 million. Second, it has some oil and third, the opportunity to take on the same regulatory decisions as singapore or luxembourg and one of the other countries. There is no other country in the world that has of that. No other country has the oil and financial. Countries you cited are geographically small and the infrastructure and technology as the cost of setting up his left for scotland to compete on the same leveling phil. You have to devalue the currency and Corporate Tax rate. They would have to learn to live off of their tax. It is a big problem. Probably will not be up to spend as much money. An issue that salmond has avoided. If it were to achieve i am talking in a theoretical i know. W, if it was to achieve this, it would have to make hard decisions. One thing i noticed, i may be wrong about this, i think it is quite left wing dominated. I described is quite a kind of small state right wing kind of model. Finally, it might contradict the politics of salmond. You are saying yes or would it mean spend less . That would mean that alex m a has a misrepresented salmond has a misrepresented the yes campaign. He has not said what his tax structure will be or if he said to me. Is not clear we had a guest from Oxford University and he said going back looking at the numbers, you have independence a you was cease to have a transfer but you would have oil reserves but we do not know the price of oil. Be400 tizen would each citizen would be 400 pounds worse off. You do not have the money for the promises salmond is a making. Of my book isme that Government Spending gets in at the way and i think it is good. It needs a bit of tough love. If we look at the big debate, it is currency. Say the currency issue not that i like to interrupt. I would really dispute that it with you. Nobody is saying they cannot have sterling. What is very, very clear is that alex salmond does not have a plan b. He thinks everyone will roll over on friday get from sterling. Englands governors have made it clear you have to give up some power if you want a currency. You have to give up a bit more. I am of the view theres a great deal of misinformation being put out about of the panel. Nobody can stop scotland from using the pound. There was something going around the scotland could not use the pound and of course, they can. I was kind of ok, ok. What they would not have is if people do not mellow on their positions, they would not have monetary policy. At the door is the fastestgrowing economy in south america and it is using the of the ecuador is fastestgrowing economy in south america and it is using the dollar. May be we will see that dean national is a de nationalization. It is pretty obvious to me that if it makes isy, to you is where the world is going. Crypto currencies is much more efficient. Do we not trust currency anymore . Do i not trust the euro . Toyou have no choice but trust it because it is the law that you use it. If you think about how many times you cross of the border per year, maybe 10 or 20 times a year and few think about how meantime to cross online, it could be hundreds of times. Scotland has an opportunity to be the first to blaze a trail to be the first promising that of the first government currency based on bloc technology. I do not think that salmond is thinking that. He is carefully he probably has ideas in place hope they yes a few more things and ideas. Dominic frisby, life after the state. We are back in 2. Welcome back to the pulse. Thank you. Look at it the map below me. A day of losses. The ftse 100 is down by 0. 25 . The fed meeting starts today. Independence vote over in scotland, the referendum on thursday. Our eyes will be glued on the numbers. The equity side, some big movers. Asos down. Thest 70 off of highs for year. You do not tell them next years profit will be flat. That does not go over too well and that is what is happening with asos. Durant wants to go to the spanish carrier. Orangeranch wants to wants to go to the spanish carrier. The big one we are watching is sterling. We are down 3 . Down below 162. Big call from jpmorgan. If we get a yes vote on friday morning after thursdays could drop sterling another 6 , 7 . Something to think about. All eyes are glued. Thanks for that. We will bring down the numbers after the break. Tel avivs top innovators come together to show the latest startups. We are waiting on the cpi numbers to come. Straight after the break. Monts on month, we are expecting month on a month, we are expecting a rise of 0. 4 . Welcome back to the pulse. Live from bloombergs headquarters in europe. The u. K. Inflation data that mark carney and his cohorts will be watching. 1. 5 which matches the estimates from the analysts. Ery much in line of course, 1. 5 below target for seven months in a row. The target is 2 . More latitude in terms of what they do with a rates. The longest under par inflation since 2009 when we saw undershoot for six months in a row. Lets look at stirling. Sterling has been lower on the back of the scottish news. Virtually no reaction. We are only down by 0. 3 . Days in aen down for2 row. Level holding at 160 since the july a multiyear high. Come. More to jobless claims and the vote and retail and the vote could take it down to 150, which is what experts have been telling me. Breaking news. Their scooter business has done a deal with machendra. One of the biggest producers of tractors. Access to technology for them in terms of doing the deal. It is going through his own reformation. That is technology. Ut. To buy peugeo that is a bloomberg exclusive. Rom scooters or inflation. Lets talk about netflix. It is expanding into six and new markets. The largest streaming Video Service faces regulatory hurdles localmpetition from a media companies. Hans nichols joins us for more. They are marching into europe but they need to get it right. They need to go local. Local. Local content and they are on international. They want to bring to customers in germany and switzerland and france and belgium, those are the new markets they are entering this week. You have 200 million people, 80 million broadband. Compare that to the market in china. Ceo is very clear. One way to get to them is you will lose money at first but you need original content. It will be challenging to be profitable. We have a lot of content and we keep getting more. Gothe long term, if we five10 years, we should be profitable. It is just like you are reporting, original content and then you get the viewers. What they want to do is to expand internationally. They have 50 million subscribers is in the United States. They want to see growth of buff and beyond. They want to get 6090,000,000 in the states but they want in out of the states. There are challenges. What do you do with programming that has been licensed and programming to entice new viewers . Clearly they think their show will be a hit. We are doing both. We are licensing a local content and developing local content and commissioning a series marseille, set in a marseille. Of course, our great originals like origins the new black here in france. The goal is to generate 80 of the revenue outside of the u. S. They saw 85 ear, jump. When you get the european market, it can be 20 of their expansion. See many more new countries added to netflixs suite, so other people can download and watch. Chris i know you are an International Correspondent a you cannot live with the house of cards. Do you get a in germany . Here is my challenge. You can get it on sky deutsche. They are not up to speed on everything coming got in terms of seasons. You cannot get it on netflix in germany the cost is already licensed out. I am not advising this or saying to do it. If you use a virtual private network, you can track the you are in thinking minneapolis a you can watch it that way. It could be a guess the law and try it at home. Week, with warnings, we do it we come with a warnings here, we do everything. Hot shots. Prehistoric old city played host n active the monster. Reader taking the top position. Boarders took off the challenge of icy, cold ambitions when they in the harboread competition. They jumped and flipped putting on spectacular shows in the process. Skills do not get much better than this. Pulled off a skillful moves and demonstrated trick shots. It contains mathematical or seizure, imagination. Ever haveve you you ever driven a truck that can climb walls and go vertical . Theres a new vehicle that can do all of that. Before the u. S. Military does it , it has to go through tough testing. How do you drive it . It is a great opportunity for myself. Hestside of milwaukee, enshrine a heaths drive a ton00 military vehicle vehicle. He is the test driver. The oshkosh corporation. Isnt tight competition for a 20 a milliondollar contract to replace the humvee. It is in tight competition for a 20 Million Contract to replace of the humvee. The dod has asked for a new veal global. It must pass a rigorous process. Oshkosh is set up at headquarters. The track is short only about a mile long to replicate the very worse off world conditions are from anybody anywhere in the world. We have features to put the truck in the paces. He makes sure oshkosh trucks can pass through a battery of cast. Lets start with the grade. 20 and aades between 60 of left to negotiate the grades. Ifoal to a side slope we go to a side slope where the angle is to one side, it is a measure of stability. The third thing we have is our vertical step. This is literally a vertical wall we need to ascend. How are we doing . We are doing great. It is one of three finalists and of the 55,000 truck contract against lockheed martin. The winner of the new contract will be announced next summer. I would just love to have one of those where i live. , it is the online a fashion statement made in london. Fashion week wraps up. We will look at how High Technology seized the spotlight. Er joins me to talk about selling luxury online. A company can not a live in a little siloed world. Technology is hugely important such as judges so is a music and music andhip so is craftsmanship. You have to make sure you play your experiment. Sometimes be with crafts people and sometimes Technology Companies or musicians. Probably the most sought out after ceo. Christopher bailey talking to bloomberg about the increasing growth of technology and the fashion industry. Research suggests that the Online Retail could be worth more than 40 billion pounds in less than six y