ramifications for america, and hire appliances on china. can they put the maytag repairman out of business? good morning, this is "bloomberg surveillance." we're live from our world headquarters in new york. it is tuesday, september 23. i am tom keene with scarlet fu and adam johnson. >> overnight, china's manufacturing teetering on contraction, same story in europe. ath of those pmi numbers 50.5. when you go below 50, you're contracting. we will get our own read on you as many fracturing at 9:45. the richmond fed gives a read on manufacturing at 10:00. earnings, really only two of note, carnival which is at 9:00 15, bed bath & beyond after the close. >> very good. front and center, a lot of news.

let's get to a data check. i almost did not do a second screen. futures negative. less weight than i saw yesterday, euro advancing. hydrocarbons churn. on to the second screen for quick check, dollar-ruble with a focus on syria, a little bit weaker. gold advances this morning, up eight dollars. there is a data check. let me look at the back monitor on what is going on in syria. back 40 years on opec adjusted for inflation. here is the surge. adjusted for inflation. this explains our reliance on a higher price oil. >> despite all the talk about how we might be headed toward energy independence. >> global demand is rising about 1.5% to 2% per year. disabilityo economic

in the middle east. we look at the front page, only one story this morning with our attention. topresident obama's campaign destroy islamic state has expanded and now in syria. last night the pentagon confirming u.s. and arab allies launched airstrikes against the islamic state the additions. drones., bombers, also the targets included barracks and command-and-control facilities. according to one report, the attack on islamic state targets lasted for hours and it could be centered on the group's headquarters. >> the backstory, who is not here? france am a the united kingdom less involved as well. >> i was stunned when i first heard about this because jets from jordan and saudi arabia also took part. there were religious to express righted from bahrain and qatar. >> with ian bremmer, let's get to our next story.

>> the president coming to new york with two issues on his plate. first, climate change and counterterrorism. the president will be speaking at 12:50 today at the un-sponsored climate -- >> doesn't all get pushed aside because of syria? >> that hangs over it, but no, i don't think it changes. for climateesters change on sunday. i don't think that gets pushed aside. >> i agree there are a lot of people involved, but other people are worried about drilling in north dakota. i agree the voice is out there -- >> that is part of the conversation. >> we and the arab allies are bombing syria and the president is going to talk about climate change? >> these are all things that need to be juggled. >> it is a complicated world. it sounds trite of me to say that, but. traffic is going to be her

rent is. >> tomorrow, the president will be focusing on counterterrorism at the united nations. our last front-page story, the obama administration tries to rein in tax inversion deals because the treasury secretary jack lew yesterday announcing a crackdown and u.s. companies that may want to get a foreign address to escape u.s. tax laws. for some companies, the action will mean inversions no longer make economic sense. any deals that are still pending, those companies have to look at how the deals are structured. >> if i read the rules correctly, the new combined entity will have to get a to percent of its business outside the u.s. in order for u.s. companies -- >> i don't get it. where is the power to do this? >> there's always talk there is room within treasury to make unilateral moves to bylaws. we had a law professor on not so long ago who intimated that. the question is, what happens

next? >> or the company's push back. >> the companies say they're delivering their next steps. those are the front page stories this morning. >> syria is front and center. the islamic state is attacked by bahrain, united arab emirates running the united states. the president will speak to the united nations as he stands before the assembled, will anyone listen? ian bremmer joins us now on a new world. he is in singapore. good morning. thank you for joining us. ourthese our frenemies or friends? >> it is the united states leading the sunni alliance in the air while the shia are on the ground actually doing the fighting in the trenches. kind of interesting. it is entirely possible to put together a coalition that

includes everybody, given the geopolitics of the region. but there's no question, yes relations with saudi arabia before this ice is emergence are massively strained -- isis emergence are massively strained. the fact the united states has gotten these countries to be directly complicit, not just with providing base and ground support, but actually engaging in bombing campaigns along with the united states makes it much more sustainable for the united states to have this can a policy in the region. >> i know you study the karsay. overnight, we saw battles to take control of a very troubled nation. is the united states fighting a religious war at this point? , the united states is fighting against terrorist organization. i think they will do their damnedest to expand it, but i don't -- there's no question a war against isis is more

sectarian than the u.s. would like it. you're not going to win from the air. the war in the ground will be sectarian. the fact is, obama has launched two wars in the middle east since he is taken his presidency, one against qaddafi in libya and one against isis. those are the two you could focus on the middle east that absolutely no allies. they agree on nothing. one of the big geopolitical takeaways from this crisis is that it is becoming less likely, by the hour, that in iran-u.s. nuclear deal will come together. than auch harder november 24, you get the deal done. >> the council on foreign relations fronting their website on iraq. >> i am stunned by what you just

this making a harder for the u.s. and orinda come together. when you think about it, saudi arabia, jordan, turkey, united emirates, they're all part of this coalition. wouldn't that make it easier for iran and the u.s. to come together? no, in the same way it is harder for the united states to come to a deal with al-assad. the iranians just two days ago, you and foreign minister -- the foreign minister saying, i will the fight against isis but you have to give me a better job on the nuclear front. first of all, it is inconceivable the u.s. would do that. isis is more of a threat to iran than it is to the united states. think about how that plays back in iran. they will get an update from the u.s.. what are they going to do? come back to their own people and say, we could not get it done, but we're going to cut a deal anyway? the iranians are expecting they ,ill come away empty-handed

that it is becoming much harder for them to negotiate their own thomistic constituency. are, i think the markets paying attention to that right now. >> i need to ask you our twitter question of the day. what defines victory in syria now that we have beyond iraq with these airstrikes into syria? >> what defines victory? >> yes, for us. >> well, i mean, i guess you can say the destruction of isis. terror, you're never able to actually win. the fact the obama administration has taken as long as they have, been very deliberate and cautious and have also managed to build a real coalition -- a lot of people scoffed at that. the fact is, the harder it is to define victory, the more you what everybody around in it with you so they can't complain when it doesn't go very well.

that this kind of where we are. you have to fight isis. you know you're not when a win tomorrow, so you might as well ensure you can rebuff criticism. >> ian bremmer, we greatly appear -- appreciate you appearing with us from singapore. this is most fascinating. tell us about the linkage between our visible white house and our state policy and the pentagon. we have soldiers at risk. we have deployed aircraft at risk. is everyone on the same page? >> absolutely. what is critical, it was the state department that was key in getting the sunni allies on board come the five monarchies that we talked about in the gulf and arab states. jan that he of the pentagon coordinating. we have the 14 strikes on hard strikes. this is meant to back up the over 190 strikes we have already

done in iraq. keep in mind, it is going to be very hard for us if we don't have the ground force on the ground of follow-up on what we're doing in syria. >> this is where i wanted to go. mean anyid, we don't ill will for people serving. what do we do when the first plane goes down? how do we respond to that? >> i have to say we always say don't have the permission of the al-assad government and we're going and doing that bombing without his consent, at the same time it is very much in his interest to let the united states do its job, stay out of it, allows to doing the bombing because isil is as much his enemy as it is ours. he is happy in a way that we are taking care of this. what is key is we have paired up with the syrian opposition, the free syrian army and formed -- informed about this attack days in advance. that is something they will have to do some real cleanup work to take advantage. read the manual on

foreign policy -- >> i think we all do this point. hour, we has for the will be back with them shortly. coming up, the obama administration has its hands full airstrikes, climate change, antiterrorism measures. what is john kerry's role? we will discuss right here on "bloomberg surveillance." ♪

>> good morning, "bloomberg surveillance." mexico joiningf market makers this morning at 11:00 a.m. the president and the first lady visiting new york today. look for that in the 11:00 a.m. hour. i am tom keene with scarlet fu and adam johnson.

secretary of state john kerry will be in new york as well, hosting a global counterterrorism forum. he has his mind elsewhere, and particularly, on syria as well. tell us the daily methodology of secretary kerry as he is buffeted as no secretary of state in years. andks you have the urgent important and you have to do it all at the same time. john kerry has been here sunday dealing with a host of different issues. key today is he's going to be setting up very important security council meeting. byorrow is the yuan chaired president obama. in an effort to stop foreign fighters from going over to syria and iraq and coming back to their home countries. john kerry today is going to be

gathering all of these countries together to talk about what they can do about counterterrorism. this is the fourth annual of these events that had, but it takes on really new significance. quirks is it of oso -- photo session? >> know, and we will be covering it live. it is interesting because he is having to bring on board not allies who now publicly have shown themselves, but basically the whole world. the french and the british were not involved in this operation in syria, although, they have been involved in various ways. the french have been involved in bombing in iraq. we will have to see bringing the world together and figuring out what is plan b? how long is it going to take? it is probably going to take years. quirks where is china in all of this? u.k. is strangely silent. asnow it's interest are not intersected, but for the world power, you don't hear a lot from

china. quirks china will remain quiet, i think. they plenty of issues at home to deal with in terms of their economy and society and development, all of these associated issues. they have not been vocal on most any of these topics for a while. i don't think that any intention of becoming so. talks there's very much the reason for that. they want to focus on their economy. omission, not russia, not india. corks i think on the climate tame -- change issue, they have never met a problem. pollutant.a co2 is co2. pollutants are particular matter, ozone, mercury -- >> i can't breathe and shanghai. i literally can't breathe. >> that is not because of co2. .hat is because of pollutants

>> we can't deny they are continued her. >> their sovereign nation and they can attend if they want or not. the developed world over the last 20 years has grown and emitted all kinds of co2 as a consequence of that. now china, india, and the other developing nations are being told -- timeout, you have to cut your emissions down. they're saying, wait a minute, you had your turn, now your turn to shut off us from the economic development that you enjoyed over the last two decades. >> i was with the bloomberg event yesterday and there is a photograph from 1961. the u.n., we know of 1961. i think most of our viewers do not know the yuan 2014. -- u.n. 2014. who does the president speak to today? >> we have over 100 world

leaders that will be her tomorrow to hear the president speech. >> triple parked, i get it. >> this is a really important venue. diplomatic speed dating, the opportunity for world leaders and foreign ministers to go around and see everybody in one venue to talk about everything that is on their plate. the u.n. secretary-general has says the climate is the most urgent issue threatening our world. tomorrow, counterterrorism is the theme. thursday, ebola. >> for american taxpayers? >> absolutely. it goes beyond davos. we made a commitment post world war ii to the united nations. >> all of the themes you just identified are effectively social. they're not economic. there's an economic component. >> they're very much political

issues as well. i covered the kyoto global warming topic of the late 1990's in person. the arguments that china and india made then are the same arguments they're making now. the argument against that is, we have learned from that, learn from our mistakes. >> to me, it is a lot of chitchat. it is just -- i don't know, we are bombing syria. >> that is been a criticism of the u.n. for decades. wei'm hearing correctly, should not look for something specific, but just recognize it as conversations that happen behind the scenes that allow something like a coalition to come together. >> absolutely. at the sidelines are the iraqi nuclear talks. but the president as chandigarh the whole world behind this. >> the fact they're putting it on the agenda, maybe that is the way to look at it here. >> or twitter question of the day --

that is not an easy one. tweet us. we will be right back. ♪

>> good morning, "bloomberg surveillance." gold advances. futures are negative. looking for gold on the bloomberg terminal. scarlet fu has our morning must-read. >> it is a morning must listen. the most influential summit. bridgewater associates and michael bloomberg talked about management and corporate culture. both have interesting takes on it. take a listen. >> i think there's a difference between culture and a colts --

cult. if a coulter and culture means we're clear values we are living out every day. a cult means people are blindly following. in our place, it is the opposite of a cult. it is everybody being able to have their own points of view and work through that with thoughtful disagreement. you have to have a system that means you have to have a culture. ae united states has democracy. these are things we believe in. does that make it a cult? no, i think you attract people who have similar values. if you don't talk about your values, then you have no values. >> one interesting point to p, theiry dalio's sho recording everything happening inside the hedge fund firm as a way to make sure they encourage this culture of transparency. corks if i go to enter conference are in, adding recorded? >> it is one thing to be on tv,

you know you're being recorded, but in a conference room? >> we've been doing it on surveillance for six months. looks not unlike being in china. >> you better expect there's a microphone, if not a camera can also -- >> everywhere you turn. particularly, if you are a journalist. >> in many places. >> that is very sobering. we will discuss this a little further. alibaba, record ipo, certainly grabbing a lot of china headlines. what about the economy? we will discuss. ♪

>> good morning, "bloomberg surveillance." this is the turkish border with syria. significant protest as the turkish government figures out what to do with 130,000 refugees

, that over the last three days. very much of this about kurdistan and the kurds of iraq. syria and turkey. our twitter question of the day come of this at your -- after the air attacks last night, what defines victory in syria? we leave it open to you for your smart answers. answers.you for your let's get to our top headlines. palestiniansls two and the west bank hideout. killings of three is really team/june. that incident sparked the gaza war. forecast of the world health organization says west africa's he 21,000 cases by november if control efforts are not increased quickly. the outbreak has infected more than 5800 people thus far and killed 2800.

the obama administration is taking immediate steps to likent tax inversion deals the burger king merger as an example. make it harder for companies to move its base to foreign company where taxes are lower. those are the top headlines. >> a permit, the cdo estimates this would raise about $29 in the next decade. apparently, the cbo estimates this would raise about $29 million in the next decade. there's a lot of symbolic value of people are getting upset. >> there are been something like 41 or 42 inversions in the past 10 years. , i guess, the notion of fair share. >> let's do a data check. .old advances $8 not much going on. equities still well above 70,000. >> china signaling they may

growth rate percent to slow. finance minister saying -- isi has built a career around understanding china is -- our guest for the hour. why would china not necessarily prices,to lower housing foreign direct investment at a four-year low and now we find out manufacturing tutoring toward contraction? >> they will and they already are responding, as farce i can tell. they haven't made any major across-the-board fiscal stimulus steps or major monetary policy cuts. they're doing what they call targeted measures with the throw a bone to one little constituency or another. they add up to a major stimulus. china's economy is clearly weakening in terms of growth

versus where it has been in the past. likelihood ofstic a big upturn anytime soon. >> you talk about weakening. citigroup tracks all of that data. if you look at the cit surprise, we're back in the red again. >> great chart. >> thanks, tom. economy has sizable structural problems that will not be resolved quickly. the worst one of which is housing. massive excess speculation, prices are falling, starts are coming down and that is going to continue for a while. >> what you do so best with your institutional knowledge of china , your work with isi, do they have the institutional structure to meet his new challenges or is it ad hoc day by day band-aid

approach? >> they have a structure that is different from ours. any in the west don't really like it. it is there a economy. they can do it the way they want. they are more physical policy maneuvering room than we do -- fiscal policy maneuvering room than we do. number one is jobs. they will do more stimulus to maintain job growth over the next six to 18 months. >> tom, what you're describing sounds more like u.s. economy. >> i was going to make a joke. >> don, the anticorruption campaign? this is to capture some of you people's attention. does that affect or limit his ability to guide the economy in any way? >> i don't think so. every leader in the world always has they're going without corruption, and he is doing a

lot. you can argue about who he is picking as his targets. he wants some targets to send a message. that is a natural thing. inform the question on for policy. i want to ask about what china is going to do now. restartingout them the economy. i want to identify the change issue. can you tell us a little bit about, and secretary-general ban ki-moon famous is the most urgent problem affecting the world today. just putting that ahead of prices and terrorism. what struck him as given it is my problem? >> i don't think they're going to take major steps astronomically slow carbon emissions in the short run. for even though we want the deal

signed in paris? >>, where not going to sign on i is.no, much more concern about air pollution, which is a different matter. that is going to be the out of the fluidity of the most important economic dynamic and china for the next two decades. co2 emissions are a different matter. >> so cap and trade is not when a work with them. are there any alternatives we can do? >> not that i know it. they have a growth agenda that doesn't include a meaningful co2 -- >> some say the growth agenda is the price of iron or, which isn't happening right now. do you see more social protest asthe rate of social protest the migrate from 7.5% to 6.5% real gdp? time as growth slows, more people will be unhappy with

it. >> do think? yeah. positives still a big number. it is not like it is 2% or -2%. they will learn -- the people will learn to be happy with 6.5% or 5% or 4% growth. >> you focus on taiwan and its relationship. >> their own geopolitical issues, whether it is taiwan, vietnam or philippines. all of the tensions with japan, the territorial dispute. is that costing the economy one percentage point or two percentage points of growth? >> i don't think so. jenna feels like it owns the vast majority -- janet feels like it owns the vast majority of the south china seas. this big shipping area through straits -- everything goes to europe and asia. hurting is not

near-term economic activity. it is. likely to. and they're not geographically inquisitive in that area, nor do i think they will be. >> it is suddenly getting everyone riled up inside china. donald straszheim along with indira lakshmanan. when we come back, we know ecb president mario draghi has written about the difference of the level between europe and the u.s. we will show it to and our single best chart, next. ♪

>> good morning, futures negative six. a little weight to the screen as we have the bombings in syria, the attacks in syria. this is "bloomberg surveillance." i am tom keene with scarlet fu and adam johnson. top headlines. >> starting with activists blocking parts of new york's financial district. they were protesting what they say is wall street's role in the climate crisis. protest comes a day after thousands marched in york and us were for action on climate change. jordan's biggest lender helped finance some terror attacks, or so says a jury in new york. in afound the bank viable wave of violence they killed and when did hundreds of americans. the federal court trial was the

first of its kind in the u.s. healthcare.gov security features are sound. that is the conclusion of a federal inspector general. the report will be issued later today. government watchdogs try to hack the site themselves and say there's really only one weakness they found, but the data protection is, for the most part, strong overall. on an security major theme yesterday in the bloomberg markets most individual summit. the u.s. attorney for the southern district of new york says the account ability is key. you talked about it with erik schatzker. >> when you have this matcher -- massive breach and i think it helps a lot that people saw a ceo, at least in part because of how it was handled and how it wasn't prevented against, lost his job. other ceos and boards of directors say, well, that really means something. it is not enough to hold the i.t. person accountable. when people think their entire ability to run a company is going to be in jeopardy because

they're not guarding against this risk that people have in warning about for a long time, that is important. i think that is something we have not seen in the last few years. >> you can read more about what the newspapers at the summit had to say on our website bloomberg.com. those are the top headlines. >> let's move on to single best chart. we know the u.s. and europe are headed in different directions when it comes to monetary policy. levels of investment as well. the lines measure total public and private investments since 1999. this is not value, but levels. investment in the u.s., which is the white line, has returned to precrisis levels. investment in the euro area, the blue line, still 22% below its peak act in 2008. we do see there is evidence the political state in europe is shifting slowly toward policies that bridge that gap.

mario draghi even made references to it in a recent speech. with us. straszheim you know currency matters. you wonder if the weaker euro is a single repair her. solve gripr euro settings? >> i don't think so. europe has a variety of structural problems that we know about. 2009, the global crisis then turned into euro crisis then turned into euro crisis of 2011, 2012. they went down the austerity road and now decided that is not the routine -- >> plus, with a win 20 euro or even 115 euro, the 116 of 1999, that is unevenly applied across europe. >> of course, we know a weaker euro allows governments to push off with a need to do. >> that decline in investment spending, simply, i think reflects a lack of enthusiasm on corporations in europe and around the world, lack of

enthusiasm about european prospect. >> is it a new globalization? malaysia orgoing to china? >> there are big changes. it is a good point. big changes in where foreign direct investment is flowing. >> where is it going? north dakota? >> more is coming to the u.s. china, there used to be a destination for global capital because it was the best opportunities in the world. now it is beginning to go the other direction. >> we saw that yesterday with the two executives on that german transaction. he said, the ceo of merck said off-camera, one of the major determines he was low energy prices in the united states. >> energy prices here are half of what they are -- >> does north dakota have a chair at the united nations?

>> where going to continue on this theme because we're going to speak with the ceo of one chinese appliance manufacturer. they're making inroads into the u.s. and plans to open a facility in indiana as well. we will discuss higher ambitions in the u.s.. i had a higher air-conditioner. only realized it was haier recently. ♪

>> this is "bloomberg surveillance." let's get you some company news. devicelackberry password hits the market, priced at $599, undercutting apple's iphone six and the latest samsung galaxy. strategicprice is a move because blackberry was to secure large corporate orders and plans to sell the smartphone at wireless stores. apple denies it will shut down beats music. the streaming service will be discontinued and some engineers have already been moved off the product. thousand make up popular line of headphones and apple acquired the brand back in may. germany's famous reliance on cash resulted in a major windfall over the weekend for three masked gunmen.

an apple store was robbed as customers waited outside to buy the latest iphones. that is your company news from the files of bloomberg west. surprising that people have an adopted plastic the way they have here. >> culturally, every step of the way, it is cultural. >> the eye while it is going to be big. -- iwallet is going to be big. >> i don't think so. >> why not? >> i like my plastic. >> he likes things the way he likes inc.. >> like my miles. can i get my miles? i never go anywhere. >> we're going to talk about manufacturing in the u.s. with a chinese company. chinese haier was on the brink of a group to 30 years ago, no

booking more than $30 billion in annual revenue and was to grow that base by targeting americans. what is haier's competitive edge? the ceo joins us now. there is a pretty familiar game plan here, playbook, for company like haier if you look at what the japanese and the koreans have done. to what extent are you using the same playbook and what part of the process are you tweaking? >> we're certainly trying to gain relevance in the u.s., however, we do want to do it our own way. certainly, use a different trajectory toward relevance, being different than what koreans have used. >> tom was talking about how i have a haier appliance. it was a window unit that i bought because it was a good deal. a good price point. that gets you some recognition, but there are limits to be known

mainly offering a good price, aren't there? >> absolutely. >> how do you balance price and quality? >> we have to do both and even more, be willing to be customer centric and address not just cost but also the usage needs of the was customer. that is what we're try to do. >> you had a great expense at whirlpool. transnational transactions we see every day. you are doing the opposite of the fear of americans, which is your moving from china into the u.s., setting up engineering and research platforms here. how do you get back to the whirlpool phrase, every home, everywhere with pride, passion, performing? don almost looks like the maytag repairman. how do you get back to the brand development or does that not matter anymore? >> every brand in appliances and have its own messaging and its

targetments and its own customers. whirlpool and the brands associated with whirlpool, maytag being one of them, suddenly had a message -- we are relaunching our brand in america -- >> was your message price? >> absolutely not. that is how we have been known, price. we certainly want to migrate away from that towards addressing -- >> jump in your. >> can this argue rmb you will do here will potentially lead to more manufacturing? you will do some manufacturing in the states, more in the states? r&d that was announced just a couple of weeks ago, has been targeted at directing consumer needs, meaning making appliances relevant to the american consumer. could it lead to additional jobs

and manufacturing in the u.s.? >> certainly, it can. bringthat will higher-quality products around the world? there will be some focus on taking the technology, things that you learned, back to china as well as europe and other places. >> it is certainly meant to ensure north american consumer needs, that they are met. quality, cost, the use of appliances. with some of that knowledge flow back into china? learning is global. >> i was down in alabama a couple of weeks ago with a chinese company golden dragon, the largest manufacturer of copper tubing, which says it saves 10% to 25% by locating its production in u.s. versus china.

what does it save you? >> the plant in south carolina was open many years ago, about 12 years ago. manufacturer for traders which are products that are hard to ship around the world. the economics of that makes sense. we will always follow the economic side that makes sense. >> so it is cheaper to produce here in the u.s. than in china and shipped over? >> absolutely. >> it depends on who your end-user is. >> thank you so much. greatly appreciated. a report with a big turn to the market this morning. this is on weaker commodity prices, including weaker hydrocarbon. rbule was more elevated -- ruble was elevated, weaker earlier. >> let's get to our twitter question of the day.

what defines victory in syria? we want to hear from you. tweet us. ♪ . .

>> this is "bloomberg surveillance." -- theunited states

president speaks this afternoon to the united nations. can europe be more like america? and linkedin has profoundly changed the way we do business. the consumer takes the high ground. good morning, everyone. this is "bloomberg surveillance." we are live from our world headquarters in new york. it is tuesday, symptom or 23rd. i'm tom keene. joining me as always tom keene and scarlet fu. i were guest host for the hour, david gordon for eurasia group. here is adam johnson. >> china's manufacturing teetering on construction, the same story in europe. both of those purchasing managers index at 50.5, teetering on the brink of contraction. 50 is the redline. we will get u.s. manufacturing pmi at 9:55.

earnings, carnival cruise line nine: 15 post avenue ceo jerry cahill will be on "market makers" between 10:00 and 12:00. u.s. companies contemplating a foreign dress will decide whether to proceed in light of some new rules that were unveiled yesterday by treasury end tax and version. secretary kerry is meeting his counterpart. president obama meanwhile will be addressing the u.n. at 12:50, and the clinton global initiative at 12:00. >> we are now $16 on gold this morning. futures negative five, euro a little bit of a string, $1.2886. but gold is what i am watching. 12:34. let's get to company news. >> at least 21 people have died in crashes involving gm cars with that ignition switches. the total was updated from 19 by

attorney kenneth feinberg. gm has admitted knowing about the problem for more than a decade but did not start recalling the 2.6 million vehicles until february. alan seward began work today more than two months ahead of schedule. yesterday, tesco suspended watch her executives after discovering a profit estimates were overstated by more than $400 million. theirance pilots say strikes were not and any time soon. they rejected a proposal from management to developing a low-cost european strategy until the end of this year. the strike has grounded thousands of passengers and wiped out millions of dollars in revenue. that is today's company news. arab ally attacks syria. the islamic state, this of course grows across much of eastern and north-central syria on the turkish border. with us willem marx of bloomberg

news. indira lakshmanan. >> i have heard from sources that the president is possibly going to address the nation from the white house before he even travels to new york. the white house has not come from that, but we do believe that some sort of statement will come out explaining what they are doing, and this is something that willem and i were discussing before. in the course of the attacks against isis in syria, very interestingly the united states has also done a number of attacks against a group that we basically never heard of before -- >> they have snuck in there and attacked them eight times, led al qaeda veteran who at $7 million on his head. they consider a major threat to western interests, a group comprising yemenis, pakistanis,

afghans -- >> when i think organizers of the islamic state, what is the difference between them and isis? operate in syria where they can pick up western recruits. >> one important thing about this is the idea that as far as we know, isis has not presented a threat to the u.s. homeland yet according to u.s. intelligence where is this group supposedly was plotting some kind of an attack against the u.s. homeland, so that is the key the station. >> is there any attempt by these three groups to coordinate their activity? >> these guys are al qaeda alumni's. they are a group of people who have been fighting elsewhere around the elves -- around the world, and -- >> do not forget that isis is al qaeda in iraq formerly.

so much from ian bremmer in our previous hour. thank you. did you get him on "surveillance "? >> no, he is awake already. [laughter] >> that is to mulch wes. >> a couple of points here. al-nusraat al qaeda, front, and isis are competitive. intelligence officials believe they are attacking new affiliates. these are the guys who are actually much more of an imminent threat then either isis or al-nusra. >> do any of you three within

this conversation -- how do we translate our technocracy, our power, our pentagon over to fighting a bunch of bugs stretch from damascus to baghdad? >> it is really hard when we do not have an on the ground fighting force. at least they have a vested interest. in syria we have the free syrian army, but there is no way in six month we will be building them up to a legitimate fighting force. >> is it cohesive enough to take on the islamic state? >> there is no way they will move to far beyond their borders. we heard they are very unwilling to move outside of british territories because they do not want to be left on their own. >> david, can you help us appreciate the subtleties here -- islamic state, based sunni, saudi arabia joining, why are shiites not involved in this equation? >> shiites are. there are two alliances here.

one is the u.s.-led alliance including nato allies and regional allies, but the people who are doing most of the fighting on the ground are tehe other, the counter alliance -- kurds'he igrc, the force white and those are --ites -- the kurds >> and those are shiites. veryis what makes this complicated, that in syria, they are doing it to defend assad. in iraq historically, this has been done to give shia -- >> to all due respect, and i'm reading kissinger right now, world war ii was a little simpler. hitler was a bad guy. >> we went into alliance with

the soviet union in world war ii, but here i think the whole aim of getting the arab allies as nots to portray this being sectarian, not being pro-shiite, so that is the centrality of our alliance strategy was to be able to -- i don'tight, willem, even know which side one. i think shia won. control they are now in -- >> you keep track of the site i keep track of red sox baseball. it is amazing. >> that is what makes him -- to be happya lot about in red sox baseball than this. >> david gordon, when the president speaks today, if he does address the nation, what would you want to hear from him? we just wanted to a lot of details here in this is nothing to you can get across in a 10 minute address to the nation. really beendent has

criticized ever since his speech a couple of weeks ago in not having a serious strategy, so i suspect with the president is going to talk about is the robustness of the alliance here, the fact that we do have the arab partners in place and that he is going to lay out an argument for why the strategy makes sense. x is this mission creep? indira, please step in, david. presidentve that obama is definitively opposed to having boots on the ground. the fact of the matter is the u.s. military overwhelmingly believes that this cannot be accomplished without some boots on the ground. >> i will not call this mission creep because it depends on what your mission is. remember, obama's white house essentially has been forced into this against their will but they have to act because of the threat and because of the beheadings of the american citizens. >> why isn't london supporting

us in this effort last night? >> i do not know the answer, but i do know that france has said they are not comfortable getting involved in a sovereign country. office of the russians criticizing u.s. action here. some people are saying this is not allowed. we are not being invited. >> superb conversation. indira, good luck with your reporting at the united nations. willem marx with us as well. .avid gordon will be with us >> it is appropriate that we ask out what are question. what defines victory in syria? now the pentagon has confirmed we have expanded our airstrikes in syria. what defines victory in syria? tweet us @bsurveillance. tom, aj, and i will be right back with david gordon of eurasia group. ♪

>> good morning, everyone. "bloomberg surveillance." i am tom keene. dow futures down, looking up gold up a big $16. >> treasury secretary jack lew -- >> i call him jacob. >> tries to plan down on tax inversions. cook, our chief washington correspondent, following the story and joins us now from washington with the very latest. what is the blowback from congress? can treasury unilaterally --

>> it depends who you are talking to, scarlet. give it a whole long list of democrats praising jack lew for taking this action, giving the gridlock in congress inability for a bipartisan to deal with the inversion issue, and you have republicans on the other side not necessarily criticizing jack lew for taking this action here, but criticizing him for not pushing further for corporate tax reform, which they say is the real solution to the problem of these committees moving overseas just ugly for the tax benefits. a safe without dealing with the larger picture, you have not really solved this problem, and they are trying to put pressure on the administration to do that when they come back. >> peter, the station is to treat it as a tax transaction versus a business transaction. will you presume this will get amended away so it means nothing to our transnational corporations? >> i do not think it will be amended away, tom.

thesek in the short-term, rules take effect right away, and if you are anyone of the companies involved in the eight pending and version deals, you are going to have to look long and hard at whether or not your deal makes as much economic sense as a result of these changes. these rules go further, tom, and i think a lot of people expect it. -- i spoke to a lot of corporate tax lawyers who are pleased to did not go retroactive and are surprised where it went. they are saying do not be surprised if some of these deals do not end up moving forward. >> peter, we only have about a minute. you do those lawyers tell about how specifically the companies will be affected by this new legislation or new rule? these hopscotch loans. a lot of these copies, the u.s. earnings overseas will be loaned to the new foreign entity and will avoid u.s. taxes as a result. well, that has changed under

these rules and will be treated as a taxable event. that is called hopscotching. ownership rules being tightened up very succinctly. that will raise the tax implications for these companies, and they are also making it tighter in terms of spending off some of these deals , so again, they are being forced to be exposed to u.s. taxes will suck >> all right, peter cook, our chief washington correspondent with the latest out of washington and those tax inversions. coming up, real estate shifts. we speak with redfin coming up on "surveillance." ♪

>> good morning, everyone. "bloomberg surveillance." iron ore in shanghai just produce a major breakthrough 80. it is down 57%. wow. >> over what period? or fourthe last three years or whatever, but it is a collapse of iron ore in china front and center of course. much of what we have been talking about on markets at "bloomberg surveillance."

>> jimmy choo betting on big dollar shoes. it is getting ready for a london ipo next month. sell itr plans to leastways i percent of the shoemaker in and for a stock market debut in late october. people familiar say the company hopes for a $1 billion evaluation. yahoo! emerges as an early casualty of the alibaba ipo. shares are down more than 8% in the two trading day since the chinese e-commerce, and he went public for sub yahoo! is still losing ad revenue to google and facebook. -- net revenue has declined in the last four quarters. an app fors san francisco consumers who let's users coordinate rides going in the same direction. >> i want to focus on europe. the economy struggling in manufacturing, gdp is flat, unemployment 11 point 5%, and the banks, ready for this, still

have five times as many bad loans at the banks here in the u.s.. alberto gallo, why is mario draghi's whatever it takes not doing the job it was supposed to accomplish? >> it is a different situation from here in the u.s. banks are still at a bottleneck for credit. even though the banks have done a lot, this does not filter through the economy very easily. governments need to do something. the banking system is so fragmented and undercapitalized that monetary policy by itself cannot fix it. so we are waiting for an investment plan or bank reform -- >> it is like waiting on goo adot. this could take a decade? >> when a government doesn't, it takes three or four months. the markets are getting a reality check.

>> my single best chart shows that -- >> you are going to do it twice? >> it is a redux. public and private investment spending in europe is still 22% its peak in 2008. mario draghi has drawn attention to this, but beyond pushing and nagging the government, what else does he have in his arsenal? >> the last resort option is to buy sovereign bonds. >> which he has not done yet. he stopped short of that. it, itif you think about is already low. he has balloons of 1%, so wide by one trillion bonds at 1%? yields,with low body this low funding cost is not getting passed through to the economy, so it is more about a threat, but it is not really effective. that has not worked in europe. can democracy speak here? he people speak

here to jumpstart governments? >> the good news is the new eu president has discussed the plan, $300 billion for investment, but it lies on national government decisions, surplus of over $10 billion. it wants france and italy to do reforms and france and italy are lagging. it comes down to the gain of the three main countries. >> every state for himself. it is a unique calculus over there, isn't it? >> the interesting news here is that germany is playing more of a leadership role, but they are still not willing to view the euro zone their national economic space, and so they are definitely playing this game with italy and france, but merkel is playing more of a leadership role. that is positive for europe, but others have to get on board. >> ironically, and alberto,

maybe you can speak to this -- italy, france with their weakness, pulling down the euro may be helping germany because it makes german exports cheaper to the rest of the world. >> that is something the ecb has achieved. it has lower than euro, below 30, but they need to do these reforms in the next six months. reforms of the labor markets, which are very stale. system.justice the slowest in the world. it takes 10 years to get a legal case done. >> headline coming out of the french press right now -- the president will speak, as indira lakshmanan mentioned, now we have a headline, syrian attacks within hours. >> david gordon, you were saying? a i think investors are little worried now that we are on a downward slope for the euro , and that means wait longer. and that is part of the challenge of a loose monetary

policy. >> alberto, within your visit to new york city, rbs is also about making money for stop what is the strategy? what do we need to know right now? >> we have very good years for credit. we have long been saying by everything. now i am a bit more cautious. i say focus on investment bonsall somewhere close to changing language from the fed in the coming months was up high yield bonds are suffering from out throws. they have really decoupled. x is that money going to equity markets, can u.s. investors invest in nestlé and other major companies? europe,ies are cheap in but we are now facing deflation rates, and that is why they are cheap. at the moment, what i like our investment grade bonds. and maybe the high-quality part of high yields, but not the low, not the real low end of the high-end market. x alberto -- rbs, who byallo of the way has an 86% hit rate. good to have your perspective

for sub >> the number of websites to look for your home is getting smaller. the ceo of redfin will join us. this is "bloomberg surveillance." on bloomberg television, streaming on your tablet, your smartphone, and bloomberg.com. we will be right back. ♪

>> good morning, everyone. futures negative seven. this is "bloomberg surveillance." let's get right to top headlines. >> israel killed two palestinians in a west bank hideout. the hamas asked of us -- wereamas activists

suspected of killing two israeli teens in june. dyer ebola forecast from the world health organization. it says west africa could seat when in 1000 cases by november if control efforts are not increased significantly. the outbreak has infected more than 5800 people and already killed over 2800. jordan's biggest lender helped finance hamas, so says a jury in new york that found iman's era bank liable for a wave of violence. the federal court trial would be the first of its kind in the u.s. commandos are the top headlines, scarlet. >> let's move on. along social networks, linked and serves a very distinct purpose. networking for work. it wants to be more than that, however. top executives and bigwigs right best and worst practices. earlier this year, you changed

the influencer program so that it is no longer by invitation only. tom, adam, and i could each be an influencer. >> what we did is we preserve that an opened up the abilities to anyone to write on linkedin. he difference is if you write comment get seen by your network, including it does well with your networks, it could be seen by your industry, and then the entire world of professionals. >> talk about that little more. is that done by out rhythms or is there way to override the? ande have a manner mrn machine, where the algorithm and editors. seeing what people are writing that is interesting so the algorithm will what >> so i post my insight and action blog everyday on linked in full stop it goes up to between about 1:00. how many people need to read it before he goes to more than just a few hundred people that i'm linked to? >> it is less about how many people i see it than what kind

of actions people take. does this have social impact? is this getting spread around by the folks who blur talking about it? once we see that, the out rhythms start lighting up. >> i did the behind the scenes series with you, which i thought was actually pretty smart. >> tom is an influencer? >> tom is. >> look at the chart, and a lot of people do not understand on ebay, this is a real business. you make money and all the rest of it. how are you going to compete with the juggernaut known as facebook and twitter? what does link in due to take them head on? >> people who come to linkedin know why they're here. they are here for professional purposes, to talk about careers and jobs and how to be better at what they do. there is a specific reason you are showing up at linked in, and that it's something the recruiters love. they pay us a lot of money to be able to access everyone on linkedin to find job candidates. if people pay for six roaches to have more access to other people

on the network, and advertisers want to be a part of this massive crowd of professionals. >> do you have facebook jealousy ? >> i do not. we're on facebook all the time. facebook is for one thing and linkedin is for a different thing. >> i want to ask about the timing because he opened up the pageencer platform after views have fallen for a second straight quarter. what kind of page views have you seen iago has there been a significant increase? >> engagements happen up. we are looking at 30,000 posts a week. with the influencers, it was a week.e 150, 200 posts it just gives going up. people like writing on the network, and when they write come a good thing by the people in their network and beyond that. there is such strong engagement around the content. this is authentic content. people like it and they're coming back to read more. >> i did an influencer for graduation. >> has that affected their business?

reach ofstunning the that linked in article. stunning full sub just breathtaking. >> and a bartender is retired now. >> know, jets are winning, norman is still there. x meanwhile, dell futures are still down, about 50 points. -- >> meanwhile, down futures are still down about 50 points was up >> this is "bloomberg surveillance." on bloomberg television, streaming on your tablet, your smartphone, and bloomberg.com. i am scarlet fu here with tom keene and adam johnson. dan roth, executive editor of linkedin, is here with us for the rest of the hour. the internet as we know, tom and adam, has upended services such as getting a ride and renting a vacation home by translating to your mobile device. where is real estate? adam and tom do research online, but somehow they always go back the real estate agent in that 6% commission at least. our next guest is on the frontline of changing this model. an, ceo of redfin.

and thetion availability of big data. >> for a long time, it has been a co-operative business, so if you are trying to book a ride on uber, one person takes to the hallway there, but if you try to buy an apartment in new york city, you have an agent representing a buyer and a agent representing the seller, and they have to work together, so disruptors sometimes face resistance, and changed me slow, but has finally arrived. you can see an enormous digitization and really stay. all of the listings are online, the consumers are online, and people expect on-demand service, said they want to be able to get into a home when they order it tour or anphone or a offer. aches right to do all of that through a technology channel, so what we have seen is wall street finally coherent around this idea that real estate really is about the change. >> and when you say about to change, does that also mean the 6% commissions are about to get shrunk because i do not need a broker just to see the place, only to help me actually secure the place?

>> yes. commissions are changing very fast. they have been a clinic for the last three years. part of that is because people are listing their properties for less. it is also because on the buy side, the agents are being paid a commission by giving part of that money back to the buyer at closing, so we are seeing some real pressure on the prices that real estate agents are charging because they are able to be so much more productive. they do not spend all their time looking for business. >> i will buy the information flow. it is amazing power that consumers have now with the work you have done and linkedin and others on real estate. i do not see the relationship between a realtor and a seller or landlord changing. when does that occur? can you give me the week and data that occurs? [laughter] march of 2015. >> when you are looking to buy your next place? thef you look at what seller wants, he wants to be able to sell his place through online channels. he expect you to come in with a device that gives you a 3-d street view of the home, can

walk through the house exactly as if they were there. real estate agents who do not have the technology are going to be competing at a disadvantage. >> i will agree with that. adam, you and i are doing this in new york city. houses sales are phenomenal and rentals are not that good because there are so many people not living in the houses. ask that also speaks to the dynamics of new york city real estate. x true, true. >> donan roth. >> for a while, you said the business did involve humans and you are being undervalued by the market. is this changing at all? you have a human and machine a system. >> just like linkedin, man and machine. >> did you guys rehearsed these questions? >> no! i love it. [laughter] >> broth is teaming up to take my job. x investors have begun to appreciate the size of the opportunity. when you take people through the whole proposition of buying or selling a home, not just

introducing them to a relative, but making the hope process better, it is a larger opportunity. there is $60 billion paid in real estate commissions every year, so if you can solve that entire problem, it may be at a lower margin on each transaction, but you get more money because you deliver more value to the customer. x i want to ask about this problem-solving part by these digital platforms because when someone has a bad experience on even they blame uber though uber does not have liability over the driver. with a airbnb, what happens with redfin or an online broker? have reviewse, we of all of our agents. that makes us accountable so the customer is going to tell you not just whether his agent helped him buy a house but whether he helped him by the right house, so decades our agents honest. we cannot just get you into the next property we see because we want to get a commission. we have to recommend a home that is really right for you and if the deal gets worse, they have to tell you to walk away from it because the sun whole system of transparency holds us accountable to that. ceol right, glenn kelman,

of redfin. >> one of the big news items overnight, the u.s. struck in with airplanes also from saudi arabia, jordan, and uae. our twitter question -- what defines victory in syria? please tweet us @bsurveillance. ♪

byase stand you about she talk to your last transaction. she does not talk to anybody on know, -- i just

missed three fireplaces. forget about it! of nature. force >> howdy you compete with that? >> she was a digital platform. she was to connect to a new generation of consumers who expect everything to be online, so even the best real estate agents want to work with the best brokerage, the best but from that gives them the best tools, and so that is why we see the best of the best in every market coming to us, asking how can we be a platform for them to meet customers who are now all online? >> you point out that you have a different is this model then zillow and other real estate portals. that being the case now the zillow has now made it with trulia and is bigger, what is your next move going to be in terms of exciting your opportunity? >> we cover about 40% of the united states at the beginning of the year and probably in about four months we will cover 70% of the united states, so oklahoma city is on the list. here we come. we figured out how to make money

in big markets and small markets will stop winner sent how to cover the territory and meet customers at a very low cost. >> we're expanding very quickly. oncan you stop the photos listings where people put fake furniture in the photo? >> i like the fake furniture. it helps me visualize that home. of theuld not afford any furniture. >> the empty apartments do not sell as well. >> i don't agree. >> do you know that furniture is 80% or 90% of the normal size, so it is just slightly smaller. now that is influencer. ask the ceo of zillow will be joining betty liu on "in the loop" this hour. ♪

>> good morning, everyone. futures negative seven. tomorrow on the program, the liberal conservatives up to hate. will join us of the "new york times," the experiment and our projection. look for that on television and radio tomorrow morning 7:00 a.m. >> this is "bloomberg surveillance." i'm scarlet fu here with tom keene and adam johnson. our guest host of the hour, dan roth, executive editor of linkedin, and david gordon of eurasia group. a new blackberry device heads to market and is priced at $599, undercutting apple's iphone 6 samsunglatest

galaxy. it plans to sell the smartphone at wireless stores. apple denies it will shut down beats music, the blog says the streaming service would be discontinued and some engineers have already been moved off the product. beats makes a popular line of headphones, as you know. apple acquired that brenda back in may. and gamers can get their hands on the xbox one. become a had previously announced a delay in china. xbox one will be the first consul legally available in china in 14 years. those are the top headlines this morning. scarlet,do say, tom, $599 for a blackberry when i can get an iphone 4 $650 -- for $650? that is not undercutting. that is pointless. >> there are still some crackberries out there. they are shrinking. >> here is a video of the united

states navy launching a cruise missile as a part of a series of airstrikes against the islamic state last night in syria as part of the president's efforts to combat a growing terror threat. other arab nations offer their 14 targetswe hit along the iraqi border. david gordon with us of eurasia group and daniel roth of linkedin, working on editorial content. i think we see here in summary what we have gone through with the summary, and we are almost with the fall into a new action. what is our biggest risk? what is the president's biggest risk with the strategy? biggeste president's risk here frankly is that he gets pulled into this war. the democratic party is very, very split on this, and this sets up a very divisive debate for democrats as you head into

the fall, the midterm elections, and the beginnings of the presidential campaign. wife the president will speak this morning for some people say all of the usual thankful stop what does he have to add? what is that kita station which have to listen to from the president? -- what is the key distinction we have to listen to from the president? >> the credibility of the airstrikes against syria, isis in the context of no credible military force on the ground that will back him. isisu have got to believe in some form will respond to what we have seen last night. >> we are waiting for that. not just ices as we discussed, but also khorasan. >> david, i want to get your take on a morning must-read that i've selected for today. it is from james mann writing in the "new york times."

clinton, bush, like reagan before them, their most significant achievements took place in their final two years. when we claim a president looks tired, what we really mean is we are tired of them. president obama has about a 41% approval rating, about the as low as it has been for him. is is a way for him to reinvigorate the presidency? thing aboutesting president obama in recent months is here is a president who for nearly six years has push off foreign policy and now in both russia, ukraine, and in the isis crisis, he is more embracing it. foreign policy tends to come in the final days of a presidency. >> you and i were weaned on, you 700-pageph nye, textbooks. linked in, dan roth, and other sites driving this debate full stop i will call it an entire red internet debate. you working with your

influencers and others at linkedin, how has that changed discussion?ical >> a lot of people talk about the impact of geopolitics on their business will stop ian bremmer, the founder of the eurasia group, had a great post where he discusses the importance of understanding the politics in order to understand the markets, and i think that is whatever but he wants to know. >> and understands businesses, too. >> and because people are so connected, people can tweak the answers of the day from syria, from lebanon. >> do you see the hate mail i get on linked in? it is brutal. >> i think it is jealousy. >> the hate mail coming from people who are jealous will stop lets go with that. dan roth, i want to ask you about president obama because he is an influencer. as he write about geopolitics? >> people do not want to talk about politics. when people do, everyone says why am i seeing this on linked in full stop it goes back to your facebook question. people, for a reasonable stock >> what does best? reasons. come for

>> what is best? >> i have a son right out of college. he loves linked in. >> great. >> what is the new leadership within our foreign policy given mr. roth's world? >> i think that basically americans are feeling very, very worried now. they are looking for the president to step up to the plate. i think foreign policy can become a political plus for the president here, but will he handle it? >> who should take the president, john kerry were president obama? >> john kerry will not take the credit here. it is going to be the president. >> i would say this debate, dan roth, changed with cyprus. when we had a financial crisis in cyprus, i saw the twitter vigilantes change the debate physically or the linked in the two ladies were beginning to see your world of foreign affairs change because of the speed and

visibility of dan roth's world? >> let's give you an example because our twitter question of the day was -- what defines victory in syria? we want to share with you some of the answers. a win in syria is when a u.s. puppet government is in place. whoa! is that the mission? >> that is an old-fashioned way of thinking about this. i do not think it is likely. and i would add on attractive also >> second answer -- air strikes are victory. obama won second round in syria against putin. he will manage the next attempt of airstrikes. >> i do not believe we can win without -- the importance of these strikes as they take away the safe haven status that these guys had in syria. it is what we were not able to do, frankly, against the taliban when they went back and forth across the borders into pakistan , we are able to do here in syria.

that is the significance of this. >> one thing that seems crazy is how quickly we are deciding what is working and what is not as the world speeds up, exactly what you're talking about. everybody is going to make a decision. this is a failure, this is a success, and we will tweet and share in talk about it, and by the end of the day it will be decided. >> i saw european policy change in cyprus because of twitter. >> to dan's point, the final answer to our twitter question was -- obama decides when victory has been achieved and war is over. i do not think you will see mission accomplished anytime now. >> think of george bush flying in on the carrier and saying mission accomplished. think of president obama multiple times multiple times saying "i ended this war," well he did not. >> tom, let's get started with our agenda. the stories you are focused on. >> of course we want to hear the president speak later this morning. we do not have a timeline again, but at 12:50 this afternoon, the

president will address the united nations. the reporting is to say on the script and speak of climate and climate change before counterterrorism. really for the second term of this of administration, this is three-day trip to new york city. >> meantime, the obama administration is trying to rein in tax inversion dales because jack lew, the treasury secretary, and a crackdown on companies try to move their tax base to a foreign country to get out of paying taxes. we are waiting for responses because this was a move by treasury for stop what happens now? >> unilaterally they can do this? theyey have gone as far as can legally. the lawyers can minutes at here is what you can do. he does what you have to go to congress for. they walked all the way up to the at. quick, citizen financial, after the close, for trading tomorrow, this will be the largest banking ipo since goldman sachs in 1999.

>> we want to thank our guest host for the hour, dan roth, executive editor at linkedin, and david gordon of eurasia group. "bloomberg surveillance" continues on radio. "in the loop" on bloomberg television is up next. ♪ . .

>> good morning. it is tuesday, september 23, we are live from bloomberg world headquarters in new york, and you are "in the loop."

i am olivia sterns. michael turner will join me in expandas u.s. and allies airstrikes in syria. world leaders are defending on new york. the united nations summit on climate change kicking off right now as president barack obama leaders,0 of the world yet two leaders, india and china, are no shows. should we be worried about the unexpected bump in home sales? campaignexpand the against islamic state, launching air raids. president obama is expected to speak this morning and then before 1:00 p.m. in new york. treasury jackhe