and at the university of zurich. i cannot think about anyone better to speak about churchill and the europeans for this largely north american audience. thank you. [applause] lord watson: ladies and gentlemen, good afternoon. all very well being compared to churchill in a sort of way but it can lead to rather frightening questions. for example, when i was last week in fulton, missouri, and i spoke in the gymnasium where churchill spoke, but before that we took questions from 13-year-old children from the church. this is the church that was destroyed by the luftwaffe in -- on december 29 1940 and then , moved stone by stone, step-by-step across the atlantic to fulton, missouri. an extraordinary image when you enter that small town. we were in this church and taking questions. one boy had his hand up straight away, very urgent so i went to him on my left. i said, what is your question? he had several different papers in front of him and seemed very self-absorbed in putting this question together. and in the end he said

investec and zurich top the stoxx 600 as both firms announce divided hikes, with the swiss insurer targeting an eventual payout of 75% of its net profit. >>> donald trump prepares to meet his first foreign leader, japanese prime minister shinzo abe, as the bank of japan goes on the defensive, buying jgbs in a bid to offset rising treasury yields. >>> good morning again. welcome. glad to have you with us for this next hour. we have lots going on. a packed show for you. just giving you an indication of where europe is trading, we were called higher by the spread bettors before we opened an hour ago, hanging on to those gains, just over a tenth of a percent. over night, the bank of japan conducting the bond buying, stopping jgb yields from highing higher this had an effect stateside and some rejigging of yields in europe. when it comes to some bigger movers out there, also just looking at some of the stock specifics, investec has been trading higher after reporting a solid set of first half earnings, similar for zurich. ahold trading lower after weakness in the firm's u.s. business hurting oper

yousef: zurich insurance group will cut costs. mario greco -- that news comes as the company holds an investor day today. mario greco joins us now for his first interview of the day. thank you very much for joining us on day break this morning. of us go straight into one the key lines coming out of your statement. 2015 to 2019.rom talk to me about what is driving that new plan? mario: the insurance industry has a cost issue, which is common industry. zurich has this issue itself, so we decided to attack it, attack it in the most responsible way by reducing over the next three our costsbillion of by the end of 2019. we will work on the i.t. expenses and contracts and procurement, internal organization, and we have plans to do it and we are fully confident we will achieve it. anna: those are some of the things you want to take out cost wise. years has been a busine that you have introduced a restructuring program already, rb organizing the business around geography and not product. how is that delivering for zurich? mario: the name

check it out. >> 66 teams from across the globe have come to zurich for a unique invitation. in a true blending of man and machine, people with disabilities are competing head to head. it has been dubbed the world's first cyborg olympics. the rules of the games are simple. robot assists, neurologists, and other researchers are paired with disabled competitors that have been robotically enhanced. races are based on different disabilities. the fastest time wins. competitors are grouped as closely inability as possible to avoid unfair competition. the technology can be conceptual or off-the-shelf. it just has to be safe. the mission, to improve assisted technology and better integrate those with disabilities in everyday life. i've come to meet with the team from imperial college london. kevin has a cutting-edge robotic arm after an industrial accident more than three decades ago. a computer programmer, his mechanical arm has dramatically improved his life. he's competing in the arm prosthetic race, where he will perform household chores like hanging clothes and cutting bread. >>

zurich insurance will cut costs by $1.5 billion. the new plan should say $1 billion by the end of 2018. the company will also target a dividend payout ratio. switzerland'suls th biggest insurer. underlying operating income rose by 4.3% to 513 million euros. the first consolidated earnings since completing the merger with its belgian company in july. guy: now, we have inflationary questions, the central-bank is yikely to hike basis points b 50 basis points at today's meeting, that is according to those surveyed. clearump guide was pretty that much of a guide it was. the emerging market strategist joins us now on set. good morning to you, simon. do any more than 50 basis points? >> the market looks like it is pricing in at least 75 basis points. the mexican peso has recovered 3% to 4%, versus the chilean peso. metals versus protectionism. i think the market is definitely looking for more than 50 basis points. guy: what would be the impact of those higher interest rates? you have an economy that would be dealing with a cheaper currency

we will head to zurich for what has been dubbed the world's first cyber olympics. this is bloomberg. ♪ emily: the world's first cyborg olympics is underway in zurich. 66 teams from around the world have paired up scientists with robotics and physically disabled people to push the limits of aggressive assistive technology. check it out. >> 66 teams from across the globe have come to zurich for a unique invitation. in a true blending of man and machine, people with disabilities are competing head to head. it has been dubbed the world's first cyborg olympics. the rules of the games are simple. robot assists, neurologists, and other researchers are paired with disabled competitors that have been robotically enhanced. races are based on different disabilities. the fastest time wins. competitors are grouped as closely in ability as possible to avoid unfair competition. the technology can be conceptual or off-the-shelf. it just has to be safe. the mission, to improve assisted technology and better integrate those with disabilities in everyday life. i've come to meet wit

check it out. >> 66 teams from across the globe have come to zurich for a unique competition. in a true blending of man and machine, people with physical disabilities are competing head to head. it has been dubbed the world's first cyborg olympics. the rules of the games are simple. robot assists, neurologists, and other researchers, are paired with competitors that have been robotically enhanced. races are based on different disabilities. the fastest time wins. competitors are grouped as closely in ability as possible to avoid unfair competition. technology can be conceptual or off the shelf. it just has to be safe. the mission, to improve technology and better integrate those with disabilities in everyday life. i've come to the arena to meet with the team from imperial college london. kevin has a cutting edge robotic arm after an industrial accident more than three decades ago. his mechanical arm has dramatically improved his life. he's competing in the arm prosthetic race, where he will perform household chores. >> you can see the twitch going. i decide what level i want. i

one at westminster college fulton, missouri, and one at the university of zurich. and that book is, i gather, doing extremely well on top of the list of best selling nonfiction booking at the moment, and you've all got the chance to keep it there by going next door and buying more copies. but alan did not just write the book, in recent weeks, he's also been living in, because i know for a fact in the last few weeks, he has appeared on the very podiums that churchill stood on in both fulton, missouri, and i can prove that. there's the cover of "the fulton sun." he spoke at westminster college, and has spoken from the podium at the university of zurich. so i can't think of any one better to speak about churchill to this largely north american audience. thank you. [ applause ] >> ladies and gentlemen, good afternoon. it's all very well being compared to churchill in this sort of way, but it can lead to rather frightening questions. for example, when i was last week in fulton, missouri, and i spoke in the gymnasium where churchill spoke, but before that, we took questi

. >> zÜrich insurance group will cut $5 billion. now, that news comes as the company holds an investor day today. let's go straight into one of the key lines going into the statement. $1.5 billion from 2015 through 2019. talk to me about what is driving that new plan. >> the insurance industry has a cost issue, which is common wide in the industry. zÜrich does have this issue, so we decided to attack it in the most responsible way by reducing over the next three years $1.5 billion of our costs. now, it would work on the i.t. expenses, it would work on contract, it would work in procurements. we have plans to do it. we are fully confident. >> let's take a look at tencent's revenue, asia's biggest internet company. this is everybody's favorite here. what is driving sales? quarter, it grew to $5.9 billion. how does tencent do that? it invests in business is like , cloudfinance, content building capabilities, and to do that, it has to spend more. income grew to $1.5 billion, which is slightly below expectations. cloud services are payi

emily: the world's first cyborg olympics is underway in zurich. there, 66 teams from around the world have paired up scientists, cutting-edge robotics, and physically disabled people to push the limits of assistive technology. check it out. >> 66 teams from across the globe have come to zurich for a unique competition. in a true blending of man and machine, people with physical disabilities are competing head to head. it has been dubbed the world's first cyborg olympics. the rules of the games are simple. roboticists, neurologists, and other researchers are paired with disabled competitors that have been robotically enhanced. races are based on different disabilities. the fastest time wins. competitors are grouped as closely in ability as possible to avoid unfair competition. technology can be conceptual or off the shelf. it just has to be safe. the mission, to improve assistive technology and better integrate those with disabilities in everyday life. i've come to the swiss arena to meet with the team from imperial college london. >> morning. repo

pais creo que no es tiempo de un largo hace varios aÑos, los premio que su la fifa en entregorÁ en zÚrich los mejores para distinguir a quienes resalten como entrenadores del 2016, en los prÓximos dÍas los 10 finalistas para el mejor entrenador del fÚtbol femenino. por otra parte les cuento que real madrid de gareth bale acordaron el contrato hasta el final del 2022, y galÉs contÓ sus ascensensaciones tras amplis situaciones con lucas vÁsquez, le llegÓ el turno ab gareth bal, y a cristiano ronaldo. la extensiÓn del contrato de joaquÍn como director tÉcnico del equipo actual campeÓn del mundo, hasta el aÑo 2020, dirige al seleccionado alemÁn, tras ser el asistente en el proceso anterior. en el deporte blanco, nÚmero dos del mundo, dijo en parÍs que su meta es acabar en una muy buena posiciÓn de este aÑo para poder arrebatarle a jockovich el nÚmero uno a inicios del 2017, el escocÉs que viene con una racha de 15 victorias consecutivas la Última este domingo en el a t p 500 de viena, y despuÉs de otra tormenta, vuelve afirmar la paz con la atp este lunes se oficina lizÓ

zurich insurance posting a 342% jump in profits well ahead of analyst estimates. organizational changes drove profitability at the swiss insurer. zurich's cfo saying a turnaround is underway but that investors need to be patient. >> i don't think organization b that will emphasize above all else execution. that's where we need to significantly strengthen our game. the company knows what it had to do in the past, but hasn't quite achieved those goals. we have tried to put in a simpler organization, one closer to the customer and drive the firm's priorities. next week we'll cover a number of different topics, but execution is a theme. >> strong performance in its music business helped vivendi beat analyst expectations during q3. the strong results offsetting weakness in the french groups other media operations like pay tv units. >>> checking in on the asian markets. pauline is in singapore. we're seen spectacular gains in your session. >> we have. we've seen a robust bounce back after that selloff yesterday, especially with the nikkei, which recovered all the losses

a swissair flight from zurich decided to try this again later, or maybe somewhere else. week 11 of the nfl will wrap up tonight when the texans face the raiders. >> as for yesterday's highlights, here's our guy at espn. >>> good morning, america. thanksgiving week is here. so may i be the first to wish you a happy thanksgiving. a great slate of games on thursday, that includes the redskins, who played last night. here's what they did against the packers. rodgers to jared cook. we're close now in 29-24. here comes kirk cousins. third and seven. this is a beautiful pass. just gorgeous. down the 1. jamison crowder. and then, robert kelly would score. back to aaron rodgers. they need two scores. need an 8 and a 3, down by 11. josh norman punches the ball out. washington recovers. they win. game two of three thanksgiving day games. >>> how about jimmie johnson. wins the championship again. the sefbt of his career. he drove the entire chase with a dale earnhardt and richard petty tribute helmet. he's got time to get number eight and be the number one championship driver of all

. >> and the mix of that is -- so, and then justin performed from his concert in zurich, switzerland. >> they kept cutting away to girls in the audience sobbing taking away from justin's singing. oh, my god. oh, oh. >> did you ever do that over an artist. i don't think i ever did. did you? >> i did. >> who? >> paul. the beatles. i went to the movie there. he can't be -- >> it was a scream. >> but everybody else was and so i went -- >> ah, paul. >> then i really got into it. you're so crazy. >> so stupid. bruno mars performed. that famous, new song "24 karat." let's listen. ? yeah ? >> go. ? head to toe so play it ? ah. >> did you notice who it was next to tim mcgraw in the audience. his daughter, maggie. 18 yeald she was not thrilled that daddy was dancing. >> nobody wants to see their dad dancing to bruno mars. nobody. tim mcgraw won favorite country song "humble and kind," a great song if you want something to download. >> our favorite, sting performed a medley of his hits before performing his award for lifetime achievement. definitely hot. >> he's sexiest man alive as far as i'm c

nejra: we're going to take you from new york to zÜrich and cover stories out of greece, the u.k., and wall street in the next hour. here's what we are watching. shares of europe's largest biotech firm jumping after johnson & johnson approach the company for potential takeover. more on this potential $17 billion high up ahead. technical indicators show the biggest selloff in years is coming to an end. vonnie: wire market ignoring the signs? we talked with fixed income investor, next. and the holiday shopping outlook. the target ceo telling us his company has the advantage over amazon because of its physical stores.

zurich insurance says it will cut cost from 2015 through 2019. the new plan replaces a previous goal to save $1 billion by the end of 2018. the company will target a dividend payout ratio of 75% of net income after tax. third-quarter earnings slightly below analyst estimates, underlying operating income rose. the figures of the dutch grocers first consolidated earnings since completing a merger with its belgian rival in july. that is the bloomberg business flash. francine: thank you so much, nejra cehic. what exactly will the economic policies of the incoming administration look like? markets intend to decipher what trumponomics really means. a key member of trump's team has said the incoming administration is considering an infrastructure bank, a concept suggested by hillary clinton. fit great odds for december are at 94%. let's introduce our guests. the studzinski with us for hour. ashworthing and marcus also still with us. john, just to say you are from blackstone says about 1% of what you actually do. you are a philanthropist. you meet world

time again so for a comeback to the africans the problem there is the rich elite dictators it comes to zurich corer geneva is anybody asking the question why? no because it is good for the bank and a real-estate company and everybody wins. so then coming back here you are right. issue did not exist. joe biden state is a big promoter of this. big joe. the fact is that is your state to. you can tell me you don't know what is going along. just like the letter there wrote to the president emile you will do to fix it because if you don't it continues. that is the problem. but they are all buddies that the banks and of law firms that will shift when they leave public office so this is correct. i have seen at. is very sad. >> do think corporate responsibility has a nagging to do with the development of these countries or the non development quite. >> i don't claim to be an expert on the countries but rather than just throw money at the problem to give aid you should make a concerted effort to change the infrastructure. have to have a place to hang your hat. so give them at and empower them than peop

from new york to zÜrich and cover stories out of greece, the u.k., and wall street in the next hour. here's what we are watching. shares of europe's largest biotech firm jumping after johnson & johnson approach the company for potential takeover. more on this potential $17 billion high up ahead. technical indicators show the biggest selloff in years is coming to an end. vonnie: wire market ignoring the signs? we talked with fixed income investor, next. and the holiday shopping outlook. the target ceo telling us his company has the advantage over amazon because of its physical stores. nejra: let's have a look at where european equities are trading, with just under 13 minutes to the close. i have across asset picture of western europe looking at gnma. switzerland's smi up 1.1%, one of the best performers in western europe. portugal higher, up .5%. gains in luxembourg, denmark, belgium as well. in the fx space, a lot of it is about the weaker dollar story today come even though we had a stronger dollar story for the past couple of weeks. first --up .5%, the swiss franc at .3% as well. a

. >>> justin bieber joined the list of performers for the the stage from his purpose tour in zurich, switzerland. this marks his sixth time performing for the awards show and he's no stranger to the ama podium either. he's already won eight american music awards and is nominated this year for five more. so don't forget to tune in sunday night at 8:00 p.m. jay pharoah is co-hosting with gigi hadid and opening act, bruno mars. >> love that. >> i still remember his super bowl halftime performance. that guy is amazing. >> so britney spears is not performing but has other exciting things going on. debuted her new music video for slumber part. let's take a look. ? i i i ain't gonna sleep tonight ? ? we got some candles hangs from the ceiling ? ? we use our bodies to make our own videos ? >> the theme of it is the two of them take over this swanky video where they're having some sort of a slumber party, hence the name of the song. >> with bubbles, i believe. >> bubbles. >> going for realism. >> yeah, so she was clearly excited to premiere the video and told fans to stay up for its 3:00 a.m.

people were pleased, one of the things is after it was done and there was a big crisis and people were zurich talking about usurping the government, jefferson actually said, you know, it seems we pretty much would have had some convention. that's who we are as an american people is our constitutional process. >> all of these years later, it's still working. thank you for being with us, really appreciate it. >> that will do it for me for this hour, i'm kate snow. i got to quickly put this on, because steve kornacki told me it couldn't be done, guess what. >> i said it couldn't be done. i said it was a bold pick. you have been vindicated. you must be very happy. congratulations to you and all of the cubs fans out there. it only took 108 years. i'm a red sox fan, i know how these things go. isteve kornacki here in new york. look at this, five days until

from his "purpose" tour in zurich, switzerland. this marks his sixth time performing for the awards show and he's no stranger to the ama podium either. he's already won eight american music awards and is nominated this year for five more. so don't forget to tune in to abc sunday night at 8:00 p.m. eastern. jay pharoah is co-hosting with supermodel gigi hadid and the opening act, bruno mars. >> love that. can't go wrong. >> i still remember his super bowl halftime performance. that guy is amazing. >> he is fantastic. so talented. and britney spears is not performing, but she's got some she just debuted her new music video for "slumber party." let's take a look. ? i i i ain't gonna sleep tonight ? ? we got some candles hanging from the ceiling ? ? we use our bodies to make our own videos ? >> so, the theme of the music video is that the two of them take over this swanky mansion party in this steamy video where the song. >> with bubbles, i believe. >> yeah. >> there are bubbles. there are paint bombs. >> they were going for realism. >