Bloomberg Surveillance: Early Edition, live from London and New York. Francine Lacqua, Anna Edwards, Matt Miller, and Kailey Leinz deliver the latest news and analysis on the markets with leaders in global finance and economics. Jim O’Neill, Former Goldman Sachs Asset Management Chairman and Former UK Government Minister, says the Conservatives needs to figure out what they stand for and rebuild. Joachim Fels, Global Economic Advisor at PIMCO, says recession is likely in the US and EU.