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Apr 26, 2024
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stephen engle, bloomberg news, at the beijing autoshow.tephen engle joins us live now from the beijing autoshow. that car looked very practical. what are you looking out today? -- at today? stephen: i always wanted a machj 5 from speed racer as a kid. that car was special. it is a concept from wolfgang egger. he was the former head designer at alfa romeo, audi, and lamborghini. you can see those european lines and whose designs and there is no doubt why byd, now the biggest ev maker in china by far, 33% of the market, hired someone like him to up the game on the design front. they have the scale, they have that technology with battery and on the platform, as he described. but design was always -- if i could speak frankly -- it was always sort of lacking. he has come into refurbish the lineup. believe me, six of the top 10 cars sold in china, ev cars in the first quarter were byd cars. a lot of that was due to price because they are able to bring the cost down, some below $10,000. upping the game on the higher end with those more european l
stephen engle, bloomberg news, at the beijing autoshow.tephen engle joins us live now from the beijing autoshow. that car looked very practical. what are you looking out today? -- at today? stephen: i always wanted a machj 5 from speed racer as a kid. that car was special. it is a concept from wolfgang egger. he was the former head designer at alfa romeo, audi, and lamborghini. you can see those european lines and whose designs and there is no doubt why byd, now the biggest ev maker in china by...
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Apr 25, 2024
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stephen engle is there with a guest to discuss china's ev market outlook.phen: we've been away a few years because of the pandemic and the landscape has changed. the ev space has grown so much and dominated by domestic players. this year the theme is smart ev's. we heard from late june, the chairman and founder of xiaomi gave an update on their first entrance into the ev space. 75,000 orders already, over 5000 deliveries since it was launched in march. a lot of demand to have connectivity in the ev in this market. my next guest knows everything about this, he's the man to talk about it, he isn't bill russo, the ceo and founder of automobility. you know the auto space. how significant is this launch or this initiative behind me where there are fingers in many domestic chinese ev's? bill: it's a union of companies using the huawei platform to present a new user experience in the vehicle. i tell people who come to china, you have to really get in the car to understand the difference. it is an influence set of technology. the car is becoming a rolling smartphon
stephen engle is there with a guest to discuss china's ev market outlook.phen: we've been away a few years because of the pandemic and the landscape has changed. the ev space has grown so much and dominated by domestic players. this year the theme is smart ev's. we heard from late june, the chairman and founder of xiaomi gave an update on their first entrance into the ev space. 75,000 orders already, over 5000 deliveries since it was launched in march. a lot of demand to have connectivity in...
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Apr 14, 2024
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haidi: stephen engle. at how we are trading, the standout has the leg up in gold before geopolitical developments. a somewhat perplexing rally in the gold rush. a little bit more further movement 6/10 of 1% higher after the strike against israel, haven demand in gold. not much in yen. crude is steady. muted training in response to escalations and new york crude is falling 1/10 of 1%. iron ore is flat, but big week when it comes to china data expectations that first quarter numbers will be favorable at the expense of second-quarter numbers. iron ore is ahead of the search last week on the back of the improving outlook. let's get more on the rally. asian commodity reporter joins us. what we've seen as drivers until this weekend, more confusing. >> definitely, everyone is scratching their head over gold because it is flying in the face of what we know when it should perform well. it rate cuts have been pushed back after strong economic data. one factor we can't ignore is china. persistently strong demand from
haidi: stephen engle. at how we are trading, the standout has the leg up in gold before geopolitical developments. a somewhat perplexing rally in the gold rush. a little bit more further movement 6/10 of 1% higher after the strike against israel, haven demand in gold. not much in yen. crude is steady. muted training in response to escalations and new york crude is falling 1/10 of 1%. iron ore is flat, but big week when it comes to china data expectations that first quarter numbers will be...
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Apr 9, 2024
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stephen engle is here with more. stephen? stephen: there are two main issues that janet brought up.s her second trip to beijing in nine months. definitely making an effort, whether there were deliverables is to be debated. again, the treasury department telegraphed she would be talking about book concerns the u.s. has about excess capacity exporting or dumping cheaper products. and again, the russian comments were interesting as well at a time when the foreign minister of russia arrived in beijing on the same day. janet yellen meeting with the pboc. met with the economic czar, li qiang, the premier. in voiced concerns about capacity in new energy vehicles and solar and batteries. when it was -- they did not get angry, let's just say. state media was vociferous criticizing janet yellen, lasting her for the narrative of chinese excess capacity. not huge deliverables, making an effort. haslinda: stephen, at her press conference janet yellen said the global economy may be adversely impacted by ramped up china. what was beijing's response? stephen: we heard from the vice finance minister
stephen engle is here with more. stephen? stephen: there are two main issues that janet brought up.s her second trip to beijing in nine months. definitely making an effort, whether there were deliverables is to be debated. again, the treasury department telegraphed she would be talking about book concerns the u.s. has about excess capacity exporting or dumping cheaper products. and again, the russian comments were interesting as well at a time when the foreign minister of russia arrived in...
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Apr 28, 2024
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stephen engle, you are in beijing. you saw the plane perhaps carryingwe cannot confirm elon s on that particular plane, but we can see he was there in beijing meeting with the premier li chung. he was the party boss at the time elon musk and tesla negotiated the factory for shanghai that opened in 2019, and there was a long five year relationship if not more between musk and the premier, and that is the most productive factory in the world for tesla, but tesla is having troubles right now just coming off its first year-over-year decline in quarterly revenue and slipping down the table in ev leadership in china. at they are cutting headcount globally and are said to be axing new recruits, college graduates in china. they are also looking to accelerate new models around the world. however, they are not at the beijing auto show. li qiang did go to the auto show. there is speculation that elon musk before he jets off might make a visit today at the beijing auto show. we cannot confirm that. we are getting a report, a state
stephen engle, you are in beijing. you saw the plane perhaps carryingwe cannot confirm elon s on that particular plane, but we can see he was there in beijing meeting with the premier li chung. he was the party boss at the time elon musk and tesla negotiated the factory for shanghai that opened in 2019, and there was a long five year relationship if not more between musk and the premier, and that is the most productive factory in the world for tesla, but tesla is having troubles right now just...
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Apr 29, 2024
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annabelle: stephen engle there. you can get a roundup of stories to get your day going in daybreak.scribers can find that on your terminals and it is available on mobile for bloomberg anywhere. customize the industries and assets that matter to you. this is bloomberg. ♪ annabelle: taking a look at major currency pairs, a little movement coming through. watching the yen closely. as we have been discussing, going to 160. which makes the risk of intervention in play. we're continuing to track that. japanese equity markets are shut. we are just seeing it weaker across the dollar. what could also change the direction is the fed rate decision, no change is expected. focus will be on the tone that jay powell strikes in his press conference, whether he needs to sound hawkish given we have seen resurgent inflation data. let's discuss in terms of the sounds or signals from jay powell and bring in jill, our news desk editor for today's big take. it is focused on fed speak index, which shows the hawkish pit it started in december. talk us through what the index is and what it is telling you? ji
annabelle: stephen engle there. you can get a roundup of stories to get your day going in daybreak.scribers can find that on your terminals and it is available on mobile for bloomberg anywhere. customize the industries and assets that matter to you. this is bloomberg. ♪ annabelle: taking a look at major currency pairs, a little movement coming through. watching the yen closely. as we have been discussing, going to 160. which makes the risk of intervention in play. we're continuing to track...
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Apr 8, 2024
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stephen engle joins us for more.tly set expectations, how would you assess whether it was a successful trip? stephen: success is a difficult one to measure in this case. janet yellen had an agenda to bring up issues about overcapacity in green industries and threat of dumping by chinese global markets and distortions. we'll talk about that in a minute, but wrapping up this trip, talking about china's cozy relationship with moscow as it relates to supporting or whether it is supporting the war in ukraine. janet yellen said most increased trade that we have seen between china and russia has been nonproblematic. her threat or her warning to beijing is that they will be on increased watch for aiding of the war machine in ukraine and warning banks that facilitate significant transactions that military goods -- that channel military goods expose themselves to the risk of u.s. sanctions. ultimate weapon of the united states would be cutting off beijing like it has done to russia. that is an ultimate threat down the road and
stephen engle joins us for more.tly set expectations, how would you assess whether it was a successful trip? stephen: success is a difficult one to measure in this case. janet yellen had an agenda to bring up issues about overcapacity in green industries and threat of dumping by chinese global markets and distortions. we'll talk about that in a minute, but wrapping up this trip, talking about china's cozy relationship with moscow as it relates to supporting or whether it is supporting the war...
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Apr 25, 2024
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stephen engle, bloomberg news at the beijing auto show. are continuing to live coverage at the beijing auto show. the china show team speaks later to the pony aia ceo about his outlook for the ev sector. these are the stocks we will be watching when trade opens in korea, japan and australia shortly. asian techs in focus after microsoft and alphabet beat expectations on strong demand for artificial intelligence and australia markets reopening after yesterday's holiday. we will watch bhp following the move to purchase anglo american. market opens coming up in sydney, soul, and tokyo. this is bloomberg. ♪ no matter what you're up against, we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we help children build brighter. we've been here for over 135 s but now our work is more . join us. join your neighbors. join united way. paul: this is daybreak asia. we are counting down to the major market opens. could be a pretty interesting session today a
stephen engle, bloomberg news at the beijing auto show. are continuing to live coverage at the beijing auto show. the china show team speaks later to the pony aia ceo about his outlook for the ev sector. these are the stocks we will be watching when trade opens in korea, japan and australia shortly. asian techs in focus after microsoft and alphabet beat expectations on strong demand for artificial intelligence and australia markets reopening after yesterday's holiday. we will watch bhp...
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Apr 9, 2024
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stephen engle, thank you so much for that.ore on her china outlook, let's get back to jin yuejue. your thoughts on china and its economy -- we heard the trouble just yesterday. is the property crisis getting better and impacting the outlook of china further? jin: our current view on china is neutral. we continue to see the property sector remains relatively weak but there are other economic data coming through over the last few months suggesting that on the manufacturing side, things are slightly improving. right now it is a fairly mixed picture in china but given that property sector is still a core part of the downturn currently, we are still holding a neutral view on china. haslinda: what would it take for you to upgrade from a neutral stance? would it be earnings, more fiscal stimulus from the pboc, the government? what would it take? jin: all of these are pretty much required but the court to that is to see whether the government will push out some more policy support both in terms of physical support but also on the mone
stephen engle, thank you so much for that.ore on her china outlook, let's get back to jin yuejue. your thoughts on china and its economy -- we heard the trouble just yesterday. is the property crisis getting better and impacting the outlook of china further? jin: our current view on china is neutral. we continue to see the property sector remains relatively weak but there are other economic data coming through over the last few months suggesting that on the manufacturing side, things are...
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Apr 11, 2024
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tokyo bureau chief isabel reynolds, and are dear chief, and stephen engle also joining us from hong kongthis is obviously an issue that i don't know if it is the elephant in the room and if it has been properly addressed throughout this entire trip. clearly it has been kind of an overhang. how does this impact the visit? >> the japanese stance has always been that they want to be treated fairly, it's a commercial deal and they want things to go ahead according to the normal rules of commerce. but to have this news come out at this moment while fumio kishida is on his official visit to the u.s., just turning his state dinner with biden, and they are trying to show that tides are stronger than ever before and there is no daylight between them, to have this new piece of negative needs at this point doesn't look good in that respect. annabelle: there has been some positives, from the meeting, a lot of different agreements and asked so far, particularly with regard to emerging technology, it seems. isabel: yes, we have seen deals on ai research. we are also seeing a deal upon offshore wind, w
tokyo bureau chief isabel reynolds, and are dear chief, and stephen engle also joining us from hong kongthis is obviously an issue that i don't know if it is the elephant in the room and if it has been properly addressed throughout this entire trip. clearly it has been kind of an overhang. how does this impact the visit? >> the japanese stance has always been that they want to be treated fairly, it's a commercial deal and they want things to go ahead according to the normal rules of...
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Apr 9, 2024
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stephen engle, thank you so much.e are going to have more on the impact of janet yellen's visit to china in a few minutes with the asia society policy institute. that conversation is coming up shortly. but he did mention tsmc, u.s. listed shares gaining after the biden administration announced almost $12 billion in grants and loans to help build a chip factory in arizona. for more unless let's get to executive editor for asia technology peter elstrom. very significant. walk us through the details. peter: it is a significant award from the u.s. government. the biden administration of course has passed to be chips act were there giving money to various players in the semiconductor industry to build up what they see as a strategically important industry. tsmc is the most to tediously important of those chips companies that makes the most advanced chips. it will make the chips for companies like nvidia, the ai chips that train chatgpt and other kinds of models. it also makes the chips that go into the latest iphones. bein
stephen engle, thank you so much.e are going to have more on the impact of janet yellen's visit to china in a few minutes with the asia society policy institute. that conversation is coming up shortly. but he did mention tsmc, u.s. listed shares gaining after the biden administration announced almost $12 billion in grants and loans to help build a chip factory in arizona. for more unless let's get to executive editor for asia technology peter elstrom. very significant. walk us through the...
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Apr 19, 2024
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annabelle: that was undersecretary for ip kathy fedele speaking with stephen engle.up, the first of indians one billion voters are heading to the polls. we are live in a city next, this is bloomberg. ♪ o coming in.. big orders!s starting a business is never easy, but starting it eight months pregnant.. that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business. make more of what's yours. ♪ >> india's six-week national elections begin on friday with the first voters casting their votes. bloomberg's haslinda breaks down the numbers. >> is the largest exercise in the world. 900 68 indians are eligible to cast a vote. 18 million would be first time voters with 190 7 million in their 20's. 15 million public agents will be d
annabelle: that was undersecretary for ip kathy fedele speaking with stephen engle.up, the first of indians one billion voters are heading to the polls. we are live in a city next, this is bloomberg. ♪ o coming in.. big orders!s starting a business is never easy, but starting it eight months pregnant.. that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it...
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Apr 25, 2024
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our chief north asia correspondent stephen engle down there at the auto china show in beijing.g with cars, ford has posted its first quarter results, beating expectations on saw -- strong sales of work trucks. they have dial back on aggressive electrification push. their ev division posted another quarterly loss. still the ceo told us the company is on track for a strong year. >> we had a really solid quarter. we did not expand our guidance range between $10 billion and $12 billion but our trajectory is towards the high-end of that guidance. looks like we are on track for a really solid track. romaine: i would be remiss not asking you about what is going on in the ev space. at fort it was the worst performing of the major businesses. we got earnings out of a couple of your competitors and at least on the ev side, things were not much better. do you see any hope of improvement in that business this year? john: we are segmented, so we are different than many of our competitors. so you have the transparency about where we are at with our electric vehicle business relative to our c
our chief north asia correspondent stephen engle down there at the auto china show in beijing.g with cars, ford has posted its first quarter results, beating expectations on saw -- strong sales of work trucks. they have dial back on aggressive electrification push. their ev division posted another quarterly loss. still the ceo told us the company is on track for a strong year. >> we had a really solid quarter. we did not expand our guidance range between $10 billion and $12 billion but...