We are live from bloombergs European Headquarters here in london. Hit the road, jack. Alibabas tour continues as jack ipo history. O make airbus delivered its first qatar. A380 to but first, our top story, the battle over scotland anders its final day of campaigning. The three most recent polls show the gap between the two campaigns heightening to four Percentage Points as they make the final push to win over voters. Lets go to the scottish capital now where anna edwards is following the story. Anna, the latest. Thank very much, guy. Those polls you mentioned, we got three polls overnight. They all show the same overall level of support. 52 for the no campaign. For ea percent for the yes campaign. That is the nos coming out ahead. The man whod from runs the poll of polls. He has been running this poll, taking a count of all the latest polling information. He now puts the gap at just two Percentage Points. The nos still just have the lead in his view. We have been taking soundings from scottish businesses of all kinds. We have spoken to the person who built an International Oil and gas services business. He has been very vocal on the subject of reserve. He wanted to downplay those reports of the possibility of there being more reserves in the north sea. He has been emphasizing the maternity of north sea reserves and decreasing tax revenues those will provide. The chamber of commerce have toed to rating impartial remain impartial throughout this conversation about independence. They stress that they will have to try and get back to some kind of business as normal, whatever the result they wake up to on friday. Apart from being a little bit foggy, what is the atmosphere like . The atmosphere is a little bit amp, shall we say. Atmosphere, all the campaigning has been up until now fairly friendly. We did see some low level not even of jostling, violence, coming through yesterday. This is the front page of the daily mirror. This is admin the band, the leader of the opposition labor party. It was him taking the Better Together campaign on tour in scotland. He was met with a welcome reception, but some of the yes campaigns turned up and there was some tension in a shopping center. I thought you might like this one. The scottish sun, britains got talent. No,tair darling leading the the Better Together campaign on this side. The ecks factor, the name given to alex salmond, the first minister for scotland. They are pitting these two together in a talent contest. I should point out that through the mist, Edinburgh Castle on the hills behind me, parts of the castle date back to 1130. The english and the scots have been fighting over it many times since then. A reminder of the historic decision that the scots are about to make tomorrow. Back to you. Thank you very much indeed. We will be back with anna very shortly. We will be live with scotlands first ever billionaire, tom hunter. We will also be speaking to the chairman of pams and. Are hugees and, they in terms of fixing your shoes, cutting your keys. They have businesses up and down scotland. Some big Business Leaders coming up here on the pulse. A big day for Central Banks as well. China injecting 81 billion. It is decision day at the Federal Reserve. The bank of england releases its latest minutes. Lots to talk about. Stimulus, china come a by stealth. It is bizarre in some sense. You dont really want to tell anyone about it so you dont put it in an official statement. We are learning they have done this. To balance this out somewhat, is it just a kind of everyday easing mechanism . If so, it is pretty big. I think you compare and contrast that with the Federal Reserve of sussing over this one line in the statement and you have a Chinese Central Bank doing these huge liquidity operations. Maybe that is what the ecb should do. Just do what it needs to do and not tell anyone. That would keep everybody happy because the germans wouldnt have to worry. Lets talk about the bank of england and the fed as well. The timing of the minutes of a is interesting. The last meeting happened before we started getting excited about what was happening in scotland and the implications of that for the remainder of the u. K. And whether or not you would see a tightening. I kind of have slightly mixed feelings about what we are going to learn. The last few weeks, the market has suddenly woken up. Ons meeting took place september 4. The meeting matters if they vote no. It doesnt matter much if they vote yes. Theminutes matter but scottish vote this week trumps everything. It doesnt matter what is in these minutes. When you look at what garner carney has been saying, he has been very diplomatic on the Currency Union issue. He has given his views to a certain extent. Where he hasnt given his view is whether what a scotland yes means for monetary policy. It wont be a considerable time before we have the opportunity we will do it a little bit later. Two words getting everybody excited. Thank you very much indeed. We will bring you those minutes later. Now to our top corporate story. Alibaba arriving in london today ahead of its ipo. Yorks start trading in new friday. It could be the worlds biggest ipo ever. Ryan chilcote is live outside the roadshow. Over to you. Lastis is alibabas opportunity, this meeting that is going to begin in a few hours, to pitch their story to investors. The investors that come to this meeting would have probably already put in their orders for alibaba shares before the meeting begins, because the order books are closing. The reality is that many investors are unlikely to get allocated shares given the fact that this is a u. S. Listing. Most of the shares will probably go to u. S. Investors or asian investors because this company does hail from asia. This is an opportunity for alibaba to encourage investors to buy the shares once they start trading. That is important because they want to make sure that the shares have a very good first day performance and people at this meeting in london can help them do that. Ma, assuming he is going to be here, the face of the roadshow once again. , whatms of his priorities are the priorities here for him . Is it getting the right pricing, convincing investors they need to invest . What is his priority . First off, we dont know for sure that he is going to be here. His name is not on the invitation. And deputyo chairmans names are. Like you said, he has been the face of this ipo process throughout the roadshow. He was in hong kong, all the meetings in the united states, and i noticed an awful lot of security guards showing up. Maybe he will be here as well. His big issue is to avoid a facebooklike debut. That is something that their team has to make sure doesnt happen on friday. It is one of the reasons why yse over nasdaq. \ that is one of the reasons he has been careful about pricing. He will be more careful now that he has up to the anti. Upped the ante. The maximum is now the minimum of the new price range. That makes this meeting all the more important to encourage investors to jump in even after , to tell ali babas story, talk about how alibaba has opportunities to strike out against amazon as they move out of china. Ryan, thank you very much indeed. If you see him, let us know straight away. A lot of people are going to be intrigued. Lets go from alibaba to airbus. It is three months late but the company has delivered its first nicholsa380s hans spoke to the ceo of both companies. Is a bitof airbus, it late, what did he have to say . He basically got cover. He said these planes were late because we made more specifications. On the broader question, how is it selling, not really any new orders this year. They have the one that they signed earlier this year but demand hasnt been hot. They say they have the capacity to do 30 planes a year. On the a350, you have to wait a long time if you want one. We have an order book which allows us to maintain the production rate close to 30 aircraft in the coming years. It is pretty good. We have 750 in the backlog. If you want to order one, i can starting iner you a 21 at best. The interesting thing about the plane yesterday, only eight seats in first class, 40 some in business and 461 in economy. We know where we sit. At the front, always. I heard some stories yesterday about how long it takes to line up on the runway. You dont think about that but apparently it is a big deal. Lets talk about love funds a lufthansa. The french are getting hot under the collar. What is the story . They avoided a strike earlier this week. They somehow convinced the pilots not to strike in frankfurt. That was a victory. Longterm, this is a company with challenges. They are competing with gulf carriers. Whatked the ceo of qatar he thought there challenges were. His response, pretty interesting. He has a difficult job to do, but also friends always disagree. I disagree that gulf carriers are the cause of the pressure that lufthansa has. What is the cause . I would not like to get into politics, but i know what the causes are and i feel sorry for him. I am sure he envies me very much. We dont have to take the crap of the union. That is one way to put it. There are two sides to that story. We will be reaching out to lufthansa as well to get their view of that. I dont know if that is clear sympathy, but there is a tension between the gulf carriers and lufthansa. Is now aso, qatar member of one world, a competing airline alliance. Another reason may be for that. Thank you very much indeed. Hans nichols, our International Correspondent joining us from berlin. Coming up, tension in scotland. Solo, country opts to go the shakeup will have an impact on the status quo. We are going to talk about that. Is there a proper place to protect interest . We will talk about that after the break. Good morning. Welcome back. Less than 24 hours to go before the big vote in scotland. There are doubts about the future of the pension system. Pensioners are getting nervous. Lets talk about this some more. Lets get back to edinburgh. Anna edwards. Thanks very much. Brown joined now by gavin , spokesperson for the scottish conservatives. Thank you for coming to talk to us today. Lets talk about the campaign being launched by the no campaign, reinvigorated by the no campaign. Polls show that they guess camp was gaining ground the yes camp was gaining ground. Is this too little too late . We have been fighting hard for years to make sure we got our message across. There is no doubt that the polls that came across certainly got people more nervous. We had pretty good numbers before but almost overnight, the number of people out helping doubled. There are people out there who see this very seriously and are fighting to save the union. How are you countering people who attempt to use this as a protest vote against your government . This is effectively a vote for life. We dont get a second chance. You cant turn the clock back if you dont like what happens. We are asking people to think seriously about the longterm consequences. It is not about one government or one policy. It is what you believe is best for scotland, for the future. We believe that scotland does very well and will do even better. That is why we are campaigning for a no vote. The yes campaign has captured the imagination of some young people who maybe werent involved in politics before and are getting more interested in politics. How do you counter that kind of message with the message you are trying to put across . Certainly, most of the schools have voted in favor of preserving the union. They used to be one of the boundaries. To them, the idea of isolating yourself is just what they are used to. They have friends around the world on facebook and everything else. The idea of creating a barrier is anathema to them. Young people have been inspired on both sides. Of 16 and 17yearolds in particular is on the no side overall. What about the commitments that the no campaign has made to devolve further powers to the Scottish Parliament if a no vote is the outcome . How certain can you be that those pledges made by the leaders of your party and the liberal democrats and labour party, how certain are you they will get through westminster . Can three men at the top of these parties pledge what will happen in the u. K. Parliament . There is no doubt that these powers will happen. If you look at history, all three parties have a track record of delivering devolution for scotland. 70s. Oes back to the since 1999, you had a labor government deliver the Scottish Parliament with enormous powers for spending and making laws, not many financial powers. In 2012, scotland got delivered by conservative and liberal Democrat Coalition government delivering extra powers and crucially, financial powers. Tax which will become the land and building transaction tax. All of those major parties in recent times have a proven track record of delivering additional powers and they are determined to do so again. There are some english mps who have been voicing concern about this commitment to maintain the formula of funding, that scotland gets per capita more money in Government Spending than other parts of the u. K. How can you be sure that support of that will go through parliament . Mps,n you have 650 or so there will be some different opinions. The leaders of the Major Political parties have a proven track record of delivering on commitments of devolution. I am certain they will do so again. Thank you so much for joining us, gavin brown. We are just off princes street. I hear some bagpipes starting up in the background. We will see if we can get some music for you later on in the program. Thank you very much indeed. A few scots wandering around in kilts as well. We are back in a couple of minutes. Welcome back. We are live on bloomberg tv. We are on the radio, streaming on your tablet, on your phone and on bloomberg. Com. We are all over the markets as well. Jonathan ferro is. Busy today, so much going on. This is what a little bit of happy talk brings you. The chinese juice, a little stimulus and the peoples bank of china, 81 billion of liquidity going into chinas biggest banks. This is what you get, a nice little rally across the eurozone. Ftseax up by 0. 25 , the doing nothing. Lets talk about china. China easing. You could get happy about that. The bottom line is, authorities are worried about a slowdown. Regional stocks down by 4 right now. They come out with sales this morning. The estimate was a growth of 6 . The regional breakdown that really builds in the concern. The asiapacific region delivers this much, 0 . Big concern. Elsewhere, you are looking at sterling. 1. 6322, a dropoff over the last three months. Some pretty big pieces of data. 1. 632 seven, about 0. 3 . Bank of england minutes, unEmployment Data. Cant wait. Still to come, why fly first when you can go business . We are going to bring you more of our exclusive conversation. That is coming up here on the pulse. Welcome back. Breaking news from the bank of england. The vote at the mpc to maintain the benchmark rate at 0. 5 . Policyority saying the would remain supportive even after a rate rise. Insufficient price pressures to justify a rate rise. We have seen inflation data considered to we can within the u. K. A gradual path is something the governor has made clear that he would like to see. Saying that we should look through the week cpi data that we have seen. Wage growth could pick up quickly and they would like to tighten soon to keep rate hikes gradual. Dont think a significant evolution from where we were previously. Array, 90. Chased we also had Employment Data as well. Not a great deal of reaction on cable. 1. 62323. Ill trading at not a significant move. Lets put this into context. Talk about where we are with the banks, with Scottish Referendum and where we go from here. Lets talk to oliver harvey. He is an fx strategist at deutsche bank. Ofterms of the evolution where that takes us today, nothing significantly changed. It doesnt sound like much has changed. Governor carney said he didnt really push back against market pricing. It doesnt seem there is much new in the minutes today. Nonetheless, if it did hike in spring next year, that would be the first low yielding centralbank to hike. That would be broadly supportive of the pound against things like the euro. The focus at the moment is going to be on scotland and todays minutes will have to take account of those. Are they almost irrelevant in some way . They are not irrelevant. On fridaya yes vote morning, they will be irrelevant in the shortterm for sterling. Marketet a no vote, the will look back again at how the bank of england is developing, particularly the floating voters in the mpc. The market will be very focused on what they are saying about slack in the labor market. Very focused on what they believe the path of inflation to be. We will go back to the bank of england on friday. For people watching the program who are running businesses, volatility in the currency they have to use is something that concerns them. Give us a sense of the setup we have going into scotland. How much of a no vote is priced in . Talk about the symmetry of the risk. The market is going back to more or less 90 pricing a no vote. I think the risk reward is still reasonably in favor of hedging for a yes vote. It is clear that the polls that have come out over the last 24 hours do suggest there will be a no vote. On the day itself, lots of factors could make it very unpredictable. ,f a new demographic is voting we are going to have a very high turnout, expected 80 or more, 97 is the record of eligible people to vote on the register. This could make the result quite unpredictable if we have this very narrow lead. Alex salmond this morning making it clear that he feels consolidation will be granted when it comes to the pound. That is not the message we get from the bank of england, from westminster. There is a lot of apocalyptic language floating around surrounding this scottish vote. You guys have talked about it as well. You are referring to it as being similar to a statement made with the Gold Standard. Mistakes made going into the depression. Lessons learned clearly by ben bernanke. Are we overstating it from a market point of view . The moves could be big but shortlived. I am trying to get my arms around the magnitude of this. There are two things, what it means for scotland and what it means for the rest of the u. K. I dont think it is that farfetched to make compa