Macron in Beijing and Mester Wants More

in today's papers. And I'm Leanne Gerns. Plus the arrest of the husband of Scotland's former leader, Nicholas Sturgeon throws the UK's election max into question. That's all straight ahead on Bloomberg Daybreak. Europe the business news you need to start your day in just one fifteen minute podcast on Apples, Spotify, the Bloomberg Business app and everywhere you get your podcasts. Good morning, I'm Stephen Carol and I'm Caroline Heger. Here

are the stories that we're following today. French President Tommanuel Macron and EU Commissioned President for Ursulavanja Line meet Chinese leader shooting paying Today, the parent join a list of European leaders have made the trip to the world's second largest economy since the beginning of the Russian invasion of Ukraine. Speaking through a translator, Emmanuel Macron said, it's better to engage with the country than to cut them off. Talking

directly to China about this conflict, the Russian aggression. What is at stake, the consequences for our Europe, the consequences for the Near East and Middle East, as well as for the African continent and so many others. It means to try and engage them in a strategic relationship that may be more complex than what we would like. This

is what I will discuss. You already understood that tomorrow in the day with the President, we will try to build in a way engage China toward a shared responsibility for peace and stability. The French President's over has come as Europe tries to balance trade and investment interests with China with finding a solution to Ukraine at a time

of heightened tensions between Washington and Beijing. Meanwhile, in the US, how speaker Kevin McCarthy met with Taiwan's president Ti Ing when in a show of solidarity, Tai said that it is no secret that peace and democracy are facing unprecedented challenges in her country. McCarthy told Bloomberg that bipartisanship is essential when talking to China. We've never spoken with one voice when it comes to China. We've gone from administration administration.

So when I became Speaker, we created a select committee and one hundred and forty six Democrats vote for it. You've watched Democrats and Republicans here together. I think that would even foster a stronger relationship with China, because China would understand where our boundaries are. They won't worry about all one party saying something. How Speaker Kevin McCarthy there

was talking to Bloomberg's Amory Haddern in California. One area that he warned Bypasses and Agreement was struggling with is the US debt ceiling, which McCarthy says wool Street should be worried about, speaking of things Wall Street should be worried about. Cleveland Fed President Lauretta Mester says the Federal Reserve isn't planning rate cuts this year. In an exclusive interview, sh Tell Bloomberg's McKee, the Center Bank has different priorities

than the markets. We've seen periods where the markets have one view of what's going to happen in the economy and the Fed has another view, and so I think we see things a little bit differently in terms of what the appropriate monetary policy is given where the economy is and where it's going. We certainly are focused on inflation and making sure that inflation gets back down to

two percent over time. The Cleveland Fed President's comments come after ADP data and the Jolts Report showed a softening in the US labor market. Bloomberg Radio and Television with a full coverage of tomorrow's US jobs report released at one thirty pm London time. Now, the Swiss government will cancel or cut the outstanding bonuses of top Credit Swiss executives. Under the plan, board members will have all outstanding payments

for twenty twenty two scrapped. Managers of one and two levels below the board will have their bonuses reduced by up to fifty percent. The movie effects around a thousand Credit Swie employees. Police in Scotland have released Peter Murrell Nicolas Sturgeon's husband without charge last night. He'd been detained as he was the former chief executive of the SMP in relation to an investigation into the party's finances. Scotland's new First Minister, Homsa Yusuf, says that the party wants

to reassure voters. In my first meeting as Leader of the ANC on Saturday was to get the ANC to agree to a course of action, our own governance, our own transparency, because people are do have questions about the party about transparency, a better finances. That was Scotland's First Minister, Hommesa Yusuf, who succeeded Nicholas Sturgeon last week. Sturgeon said she had no prior knowledge of Police Scotland's plans. The UK government has sought to distance itself from the Confederation

of British Industry following allegations of sexual misconduct. Sources tell Bloomberg that multiple departments have postponed meetings with Britain's biggest business lobby. Companies are also reviewing a their membership of the lobby group, which has appointed the law firm Fox Williams to investigate the allegations, which initially resulted in Tony dancers stepping aside as its direct at General last month.

So those are top stories on the program this morning, looking ahead to one of the big events that we're watching in the coming days. Of course, you've had the confirmation of the dates of President Joe Biden's visit to Northern Ireland and to Ireland as well. This of course coming as this weekend marks twenty five years since the signature of the Good Friday Peace Agreement. This is going to be a big week of events in Ireland next

week and Biden going to start in Northern Ireland. Of course, focus there on the political situation they're still no functioning parachuting assembly, yes, instorement and then moving on he's going to make his big public speech in the west of Ireland to the town of Ballina and County Mayo, where his ancestors are from. That's where his big public event

is going to be held, big pump and ceremony. We'll be talking a lot about this story both here on Daybreak Europe and on our UK Politics show as well. We have interviews with the people who were in the room twenty five years ago and that peace agreement was signed. Yeah, I mean so momentous nineteen ninety eight, and it's amazing that we've got people with their reflections on how that came about, a sort of feat that nobody thought was

really possible until it was done. Also, though I thought that Joe Biden was going to be addressing the Irish Parliament as well, he's going to be speaking to the Ireland Dublin as well, the meeting the Joint House of the Rafters. They're coming back from their holidays to speak to him. Okay, very interesting. Also we hear that the former US president Bill Clinton and Hillary Clinton also expected to attend events in Northern Ireland this month too, So

lots of big visits really of global leaders around the world. Yeah, certainly we're speaking of leaders of global global leaders traveling at to different places. Imanuel Macron from France, the You Commission president or Savannderline or meeting China's president. She later this is part of a three day trip to China. Macron started by saying that Europe can take a more

moderate role towards Beijing. Let's bring in our Asia government Managing editor Daniel Tankate for more and what should we be expecting from this meeting of these presidents later on. Those are a couple of things we're watching for. The biggest is just any sort of progress on Ukraine. Emmanuel mccron was in Beijing yesterday. He said he thought China could play a major role in helping to bring an end to the Council due to its relationship with Russia.

Now this is significant given that France is a G seven member, it's a permanent member of the UN Security Council. So the endorsement for Shiji and Ping's really vague blueprint on Ukraine does help China immensely there. The other thing we're watching is any sort of business deals to come out of it. You know, China has been isolated for the past couple of years with these strict COVID zero restrictions. They've pushed off a lot of businesses now facing increased

pressure from the US on sanctions and other things. So China is keen to get more international business into the country, and we'll be watching to see what deals come out of this. Okay, that's interesting. So how much of a contrast should we expect then with relations with the US, which you know, it's hard to measure exactly how high

the tensions are, but they are ever present. Yeah, I think just the fact that McCrone is there, it's someone that China views as a person they could do business with, almost like Angelo Merkel used to play with Germany, who kind of cut more of a middle path in terms of relations with China as opposed to the US. Russia's invasion of Ukraine, you know, coupled with China's the threats towards Taiwan have really kind of pushed Europe closer to

the US on China policy. McCrone has been a key voice in saying, you know, there needs to be a middle way. They have to find some ways to bring these two big economies together to have a single global order rather than two different ones. So in that sense, yes, France is still an ally of the US, but they also are favoring engagement with China and just a softer tone in general than the US has brought with Beijing. How much of these importance do these meetings hold within China?

We're talking about, of course this from an international stage point of view, from an international relations point of view, but what significance they have with in China, Well, it certainly helps Hiju and Ping's efforts to show that he's a global states. You know, mcron is just the latest visitor to come to Beijing. There's been a series of people, you know, particularly after the country was closed, no one

was coming in there for three years. Now she is a regular, steady stream of visitors, McCrone probably being one of the most highest profile. You have Brazil's president coming in next week as well. So it just helps China show that they're engaged with the world, and it prevents the US efforts to kind of lump China and Russia together and isolate Beijing on the world stage. I also want to ask you though about the US House Speaker Kevin McCarthy, who is meeting Taiwan's president on US soil.

You had some of the comments that he made just earlier stressing the importance of ties with the island. He's also been speaking to Bloomberg. What stood out for you for the kind of event, for what is being said and what is not being said. I think the key thing is where the event took place, which was in California, And this is something that sign when basically convinced Speaker McCarthy to hold that meeting on US soil rather than him going to Taiwan, which would have been relatively much

more provocative. She's also not had a lot of public meetings. She's been relatively low key during the trip. So you know, they've met, they've had that meeting, they've it's been unprecedented, but they haven't really rubbed it in China's face in a way that they could have, and that matters a lot for Beijing's reaction to these things. So what we've

seen from China so far has been very tepid. You've had the usual statements declaring Taiwan a red line, but not really the military response that we saw in the immediate aftermath of Nancy Pelosi arriving in Taiwan last year. Okay, thank you very much, our Asia Government Managing Editor Daniel tan Kate for bringing us up today with all of the various strands of those stories we are monitoring this morning on this issue. Up next, Britain's latest border wos

and a Tory MP and his failed roll of the dice. Now, the paper review on Blue Birthday break Europe. The news you need to know from today's papers. Bloombergsley and Garons is with us for details on those stories. Lean Let's start with the Financial Times. The headline their UK government publishes plans for post Brexit checks. They might be late, Stephen,

but they're here apparently. So. The introduction of new rules have been repeatedly delayed since Britain withdrew from the block back in January twenty twenty, so three and a half years ago. But now, according to the FT, this was due to concerns by ministers that controls could really create unacceptable delays at Channel ports and other entry points. So

this has been a massive concern. But the government's proposals introduced and yesterday really put on the table say full customs checks on goods entering Britain from the EU by the end of October twenty twenty, so that is when they want to introduce these proposals twenty four what did I say, Sorry, Dotter, next year, let's put it that way. Sorry. Now.

Interestingly enough, the plans include carrying out checks away from ports, and this is to avoid just mass disruption that could be caused, and the launch of a pilot trusted Trader scheme to simplify processes and also allow regular importers to avoid full customs inspections. So this is what has been put on the table for ministers really concerned about, you know, the backlog that could be created. And they also propose that goods are ranked according to their level of risk

to human, animal or plant health. And the plans will be subjected to a six week consultation period before actually being finalized. But Caroline, more post brexit border checks really on the table. Yeah, I mean this is so complex and difficult. I mean the ones of the governors postponed it. And yeah, of course the difficulties are going to come. Sure border force are going to be have to have

much more money in order to deal with all of this. Surely. Anyway, that aside, reflections aside, let's talk a bit about the Times. So an other Times exposer exposed says how Tory MP offered to lobby for gambling investors. Just let's get into this one. Yes, so a Conservative MP filmed apparently offering to lobby ministers on behalf of the gambling industry and this is awful money. Now he has had the party

whip suspended. The MP is Scott Benton, who told undercover journalists from the Times posing as investors that he would ask parliamentary questions, although he eventually it's important to our line. This didn't accept any cash, so he felt like something was wrong and he didn't go any further. But he was secretly filmed telling reporters from the Times about how he can access ministers and get a leaked copy of the white Paper on gambling reforms to the company forty

eight hours before it went public. Now we know this white paper could possibly be released after Easter and it's got these new reforms in from the gambling industry. The gambling industry is absolutely exploded in Britain, particularly during the pandemic. I think if anyone was in any doubt about how important the reform paper is going to be, you know,

I think this and also Caroline another thing. Betting companies have launched an extensive lobbing campaign in Westminster, spending more than one hundred and eighty thousand pounds on corporate hospitality for dozens of MPs since twenty twenty one, and mid moves to you know, really tightened regular eight and when it comes to gaming, gambling and betting, because as you say, things have become explosive here in the UK. It's really

exploded also online due to the pandemic. But as Benton does say, he contacted the Parliamentary Commissioner for Standards over concerns and he has been asked to break parliamentary walls and then went no further with the discussions. This is Bloomberg Daybreak Europe. You're morning brief on the stories making news from London to Wall Street and beyond. Look for us on your podcast feed every morning on Apple, Spotify

and anywhere else you get your podcasts. You can also listen live each morning on London DAB Radio, the Bloomberg Business app, and Bloomberg dot Com. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty. I'm Caroline Hitka and I'm Stephen Carroll. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak Europe.