♪ >> president trump says an immigration is deal is probably dead as tension grows about keeping the u.s. government-funded pass this friday. what asian stock is set for the brighter stock after european shares continue to climb. strenuous data says a large fed rate hike. >> jpmorgan and wells fargo flag is a prize. >> lots of money coming their way. bhp sets egg. it is seeking to spend $1 billion to get out of its joint

venture. hello, from sydney. we are an hour away from markets. betty: it is after 5:00 p.m. in new york. i'm betty liu. we will be looking at how all the wall street will play in to the trading day. what a day at was. hotter than expected inflation numbers coming out on the morning. jpmorgan earnings coming out also adding to the bullish sentiment here in the u.s. the s&p ending at record territory, up 7/10 of 1%. the dow adding on another 200 points. the nasdaq also rising, up 7/10 of 1%. good town.g a particularly when it comes to tax reform. and that bonanza you mention from the start for banks like jpm. we have huge bank earnings week

-- this week. that will set the tone. haidi: absolutely. inc. earnings in focuses week. -- but also, also china filling out the macro. we have some rate decisions out of asia central banks. take a look at the setup and asia. we have positivity coming through when it comes to the sydney and tokyo opens. new zealand trading is underway. the kiwi dollar trading at 70.240. that is going to be one of the definitive themes for another week or we have sydney futures showing strong upside of 31 points into the open. u.s.ussie dollar above 79 cents on the back of that weakness. another leg down. a quick check on commodities.

we are seeing gold bid up as a result of that weak u.s. dollar. we are seeing 1% there. new york crude, 64.30. a big week for oil. we have reports out of opec and the aia. oil higher for a fifth day. pretty close to those three euro -- a three-year highs. also in focuses week is that commodity story as we get the orderly data reports out of bhp. looking at whether there has been that follow-through when it comes to those big miners to support prices as opposed to adding supply to the market. let's get you caught up with the first word news. rosalind. it has exploded and sent. it went down on sunday afternoon leaving and oil spill. 32 crew members presumed dead. a collided with a carrier on january 6.

it was carrying almost one million barrels of a toxic hydrocarbon. the fcc had says hawaii's emergency authorities lack safeguards to present -- prevent the false alert that told residents a ballistic missile attack was happening. hawaiians have been sent into a panic, which the state government blamed on an employee pushing the run button. skated came to rest with its nose just a few meters from the sea. some of the passengers said it was amerco the plane was evacuated safely. pegasus says there were no injuries among the 168 people on board the flight which came from the capital. prosecutors are investigating. says rally may come under pressure if germany sinks hopes of a soft brexit.

and dutch finance ministers agreed to push for a deal that keeps the eu -- the u.k. as close to the u.s. possible. germany may pour cold water on the idea, leaving the currency expose. global news, 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. thank you for that. republicans are holding out hope that a deal can be reached to allow undocumented immigrants to remain in the u.s. that is despite president tweeting the effort is probably dead as tensions grow about keeping the government-funded pass this friday. let's head to washington to bloomberg. the very controversial reports of what president trump said about some of these countries last week continue to dominate the discussions over the weekend. as that caused a bit of damage to the likelihood of getting that deal done? ,> according to some lawmakers

it really has we had rand paul of kentucky coming out on one of the sunday talk shows and saying , the talk about if president trump is a racist or not is tender -- hindering a deal from going ahead. we had some unusual back-and-forth between senators, for example, tom cotton, they republican from arkansas, saying dick durbin, the number two democrat in the senate was misrepresenting trump in the meeting on thursday and he had done that before. pretty big body, used to be that republicans and democrats could get along. saidso had lawmakers who it is still possible, we certainly had the secretary also, and say she did not think that it was dead.

didn't think there would be an impasse i would lead to a government shutdown. hope springs eternal. it really is a nasty time in washington. haidi: lots of noise. lots of criticism. in the meantime, the word out of -- does anything seem likely to change on that position? ros: it seems from what we have read and what we have reported that going into reopened the iran nuclear deal is a nonstarter for european -- keep in mind, russia and china are on that deal as well. to the extent that european allies have commented so far, they say they don't want to do that. policy by making automation is not a good idea. it seems like most of the european leaders think iran is sticking to the letter of the and there 2015 deal,

is no need to go back in and renegotiate. sand drawne in the by president trump it i guess we will have to wait and see. he is taking his iranian policy six months at a time. this was definitely a strong assertion by him on friday. byty: another assertion trump is the assertion that the wall street journal is spreading fake news that he really admitted or seemed to admit that he has talked with kim jong-un. i know he came out with tweets denying this. is there any belief that he actually has possibly had direct contact with the north korean leader? right.at's interesting to feed from the president this morning. he said the wall street journal stated falsely that i said to them i have a good relationship with kim jong-un. obviously, i did not say that. the president said. they knew exactly what i said and they just wanted a story,

fake news. quite a strong comment by president trump. i don't know, i have listened to the recording put out by the wall street journal and put out separately by the white house press secretary, and it is very hard to hear exactly. an apostrophe. journalist who has transcribed the tape knows how difficult those things can be. i don't know there is a sense that he has had secret talks with kim that we do not know about. sort of played coy about that in his interview with the wall street journal. he said, i'm not going to tell you. strophe,ot just the apo but some of the things he said. it seems like u.s.-north korea relations have thawed, at least a tiny bit in the last couple of weeks, because of pending talks

between north and south korea. we have to hope that is the trajectory we are on at the moment. that: that is it -- betty: is interesting. even with tapes, there is confusion. thank you so much, our bloomberg editor. the week ahead on wall street looking quite busy despite being a shortened monday. we have a parade of earnings coming up, particularly from big banks, also economic data and the continuing gyrations and our favorite topic at the moment, bitcoin. let's talk about the tumble we have seen. >> a big crypto drama. on currencies be heading into the week because the u.s. dollar on track for its biggest string of don't -- decline since february. -- february last year. a coin tumbling. it has lost 90%. it has fluctuated 10% between 13000 and 14,000.

the bigger picture, 31% below the high of 1966. declining as much as 10%. down as much as 10%. seemsttern of volatility to be getting more frequent. if we look at what is ahead, in altercationsll the on cryptocurrency, concerns about any crackdowns or potential crackdowns in asia, which has rocketed through the social media and affected trading, there is also an increasing or trend in crypto culture. in the u.s., there is a rapper named coin daddy, a former real estate developer who is rapping about crypto culture and crypto life. then he say this is on the forefront of what is likely to be a lot of crypto marketing and crypto pop-culture. you are looking at the mining -- ripplethe vrable

websites. this fluctuation and crypto culture that is emerging in the u.s. come as something that is likely to continue to be on the forefront. coin daddy. incredible. let's turn to the week ahead. what are the highlights we are watching in terms of -- that will be a week for earnings, but also eager? off the pace last week. we have a whole string of bank earnings this week. bank of america, citigroup, among them. between j.p. morgan, cheese, and wells fargo, indicating that hey, this tax overhaul is huge profits for us. they combined a multibillion-dollar profit for alone.wo banks a bullish push, if you will. in terms of you go data, we have reports on home construction and factory activity. in terms of home construction, we have had around of frigid

weather in the u.s. that has believed to hurt some of the construction efforts. it is also said to have a chilling effect on shoppers going out. you will likely see those numbers for housing starts down. in terms of senate -- sentiment which we would later, that is expected to tick up. the oil direction will continue to be a very big focus for traders particularly currency traders. if we look at the bloomberg, g #btv 558, it is nearing 70 again. now nearing 65. that is significant. it is interesting to note that there are many u.s. current commodity traders who are concerned that oil has moved this high, this fast. there is some concern that even though we saw it shrinking u.s. applies, that they could build up very clear again. there is a caution flag for some

of these bowls. we will be hearing from opec and the iea, and that is expected to drive trading. oil andig week for other commodities. thank you so much. we will be live from hong kong with the asian financial foreign throughout the day on bloomberg television. inga bill joins us on bloomberg as we head into another year of brexit talks. don't miss out on our exclusive interview with australia's minister, kelly o'dwyer. a lot of great guests coming up. up next, a look at the week ahead with a nab's rail trail. the bank is seeing the aussie dollar falling back to $.75 range. we will talk about the decline for the u.s. dollar. this is bloomberg. ♪

♪ are counting on this monday morning to the sydney open. you can see strong opening expected by the sydney future, up about .5%. getting that strong lead in from the record territory that we closed at on friday here in the u.s. bullied by not only better than expected jpmorgan earnings, but also by that slightly hotter than estimated inflation numbers. i'm betty liu in new york. haidi: i'm haidi lun in sydney. you're watching "bloomberg daybreak: australia." sterling rose to its highest levels after some signs emerged that some countries want a soft brexit. talking about the implications when it comes to the u.s. dollar is the head of fx strategy. it was a sterling story, but really -- regardless, there is

so much negativity when it comes to the dollar. >> absolutely. if you were given those numbers two days and advance, don't think anyone would have expected the dollar would be lower rather than weaker. i think the prospect of upside risks to u.s. inflation driving the fed to meet more aggressive than where the market is expected is a key pillar of many forecasts. narrative is far from playing out. the moment you look at what central banks elsewhere are expected to do, that seems to support, be providing increasing talks about rising twin deficits and the united states. we know the deficits are going to be greater this year. on supply will be greater. traditionally, that has been a bad news rather than a good news story. particularly when a time central banks will be buying less bonds. i don't think the chatter about

whether the fed might adapt its inflation targeting this year and potentially move to somewhat softer point target, the boston fed president said on friday about favoring 1.5% to 3% range for inflation. he fears the fed will have to slam its feet on the brakes to but the u.s. economy in recession. if the fed is going to be tolerant of inflation, that is another factor that could to -- that could undermine support for the u.s. dollar. haidi: do you think a powell fed could be amenable to that tweaking? ray: we've always said that the fed will be mandate and data dependent. it the move from janet yellen giving way to jay powell should not change that. this debate about the efficacy of the hard 2% inflation target has exploded to the forefront of central bank thinking over the last six weeks or so. that potentially is a game changer.

themandate has changed, if fed is going to be targeting a range for inflation, rather than saying that 2% is the hard upper limit. and we do not want to see inflation's say -- is seeing a break below that. if the fed will move into an environment that is -- that has profound implications. it is the jay powell fed versus -- i don't think it is a jay powell fed versus a janet yellen said, it is broader than that. whether he is or isn't. i think that will be really important for ongoing sentiments toward the u.s. dollar. betty: i want to pull up the chart, it is the chart of the u.s. dollar and these declines. g #btv 6275. there is that great inflation debate. there is a sense of what can the fed tolerate here or not? i am curious, what else do you think is priced into this grim scenario in the dollar?

in the face of rising interest rates? ray: go back to last year, most of us thought last year, the u.s. dollar would continue the rally that was set in motion by trump's election win. we spent the first nine months of last year basically unwinding that, even though the fed delivered exactly what it said it was going to deliver at the beginning of the year, against market expectations for a less aggressive fed. in that sense, to some extent, there was a trump discount that existed last year as skepticism about whether his policy agenda was going to see the light of day. with tax reform having been done and dusted before christmas, you thought that would be a game changer. i still get a nagging feeling that the trump factor is still not going to go away, lack of confidence in some aspects of policy. but ever present risk that at some point if you file -- fires

a gun as far as trade is, i don't think that would be well for the dollar -- u.s. dollar. shot acrosshat is a the bows as far as trade is concerned. the whole mueller thing has not been put to bed. that sense of loss of confidence in the u.s. and to some extent, you could say, that may reflect the political reality of the trump white house. concerninging that to the dollar. i'm curious, if we step back, comedn't now be the time is seeing movements and the currency, whether it is a dollar or the strength of the yen or the aussie dollar, whether there is some trend going on on a bigger level where foreign exchange rates are becoming less and less tied to central-bank policy? case tot may be the some extent. i still think it is the case, whatever the fed is going to do,

the rest of the world will be dealing with some sort of a lag. you are seeing that in bond yields. although we have seen treasury 250 a pushing above potentially looking as though they will threaten the 2.6 3% highs we saw last year, you look at what is happening with yields in germany. you can say, yield differentials are not moving decisively in favors of the u.s. that is tiedt, into central-bank narratives. i think you're right. to the nuances of when and how much other central banks are going to be moving relative to the fed looks as though it is of some relevance. even if we that think the risks for the fed, which we do, our to the upside of market pricing, if inflation does pick up, notwithstanding the conversation we have had about the possible tweaks to the inflation target, that is something that calls into the

question the likelihood of the u.s. dollar recovering its poise anytime soon. betty: thank you so much. he is the head of foreign-exchange strategy on the dollar. and other currencies. many more you need to know to get your day going in today's addition of daybreak. bloomberg subscribers, go to your terminal. it is also available on mobile in the bloomberg anywhere app you can customize your settings so you only get news on the industries and assets you want to get news on. this is bloomberg. ♪

♪ haidi: betty liu in sydney. betty: i'm betty liu in new york. you're watching daybreak australia. a quick check of the headlines, the asian review says softbank may list its mobile phone unit. softbank courts in tokyo and overseas this year. it says listings could raise $18 billion with plans to apply to the tokyo stock exchange as early as the first half of a --

of this year. they do not say where the information is come from. softbank's fund will invest $560 million in german used car sales. haidi: bloomberg has been told ghp is asking valet to pay $1 billion for its 50% stake in the joint venture in brazil. the valuation includes a provision that they would assume its share of the remaining eye abilities associated with a deadly -- when negotiations are undone, they said -- are said to be seeking royalties. betty: indonesia's central bank is taking a stance against cryptocurrencies as an urges all parties to refrain from owning, selling, or trading tokens. a statement on saturday, they said virtual currencies are risky and inherently speculative. it says the fact that they tend to be use for money laundering and terrorism funding has the potential to affect financial stability and harm the public.

much more head. housing costs pushing u.s. inflation higher at the end of 2017. we will look at the pressure on the fed. this is bloomberg. ♪

♪ is 9:30 in sydney, where markets open in about 30 minutes time, futures looking live, a positive start. i am haidi lun in sydney. betty: and i'm betty liu in new york, you are watching "daybreak: australia." let's get to the first word news. ros: republicans are holding out hope for a deal for young immigrants despite president trump declaring a bipartisan agreement probably dead. it heightens the risk of the u.s. government shut down by the end of the week. deals were damaged by the

presidents disparaging comments about african nations and haiti gourde intelligent analyst -- former intelligence analyst chelsea manning announced she is running for senate in maryland. clemency byted president obama after being granted 35 years for leaking classified documents to wikileaks. the philippine president has rejected the call to extend the term and cancel elections next year and moved to a central government. he said he doesn't want to stay in power beyond 2022. our sources say saudi arabia's considering borrowing from banks for the first time.

they have held talks with local and international banks and have raised about $5 billion this year. they have turned the pif into a global giant by giving it ownership of aramco. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. haidi: thanks so much. let's get an update on the markets as we get the trading week started in new zealand, are seeing trading on the upside of about 2/10 of 1%, the kiwi dollar at 72.45. we see the u.s. dollar continue to decline against the backdrop of the stronger sterling and euro despite bigger than expected bpi on friday. futures in australia, 31 points going into the sydney open. watch out for the mining stocks this week, we are expecting quarterly reports out of the hp and rio, and the catalysts for

the aussie dollar being fourth quarter china gdp out on thursday, the aussie dollar currently trading back above 79 u.s. a look at the japanese yen before we head to the tokyo open this monday, we are expecting more pressure to come through from the stronger currency in terms of the equities outlook. sterling traded at 137.37. just reminder, the s&p 500 closing over 7/10 of 1%, higher in eight out of nine days. we have monday markets in the u.s. closed for the holiday. let's get to more on what we should be watching in trading in asia. $24 billion into equities globally last week, this is real and global. adam: it is, and not really selling signs of slowing, which

is interesting to some people, findagnitude continues to on. in many markets, this is the best art they have experienced in over 10 years, at least since the financial crisis. we looking at what the market is doing relative to what it has done in the last 200 days, have a look at this chart, 6274. it shows the u.s. market, s&p 500, 200 day relative to history. it shows, we have to go back to 2013 before we get to these kind of levels. what we saw on friday with the inflation data, it in one sense plays into the bullish camp. we get enough fed hikes this year to not, you know, in any way put a damper on the equity rally, that not too much to dial things back to mike. and as i said, a lot of the rally is taking people off

guard, a lot of people surprised. as you said, fear of missing out is still there, a lot of people feeling a bit of ketchup. -- of catch up. we have plenty of earnings on the card this week. betty: is there any since the move higher in equities is also a sign that the bears are basically capitulating and saying i give up? yeah, we did kind of get a bit of that happening last week, and indeed the week before. as the chart shows, the level of inflows this year, and heidi mentioned, 24 billion in global equities in a week through thursday last week. that knocks everything out of the water in terms of weekly flows we have seen in the past few months. there is a little bit of a sense that the bears are wanting to

get in on this, there is a lot careers based on big market moves, but things can turn break quickly. we have been noting over the last two days, a number of indicators that it is starting to look a little bit fragile, the american investor survey is high in terms of retail money coming in, that could be an indicator, measures of momentum in the relative strength index in many areas run the world, not just in the u.s., looking very much in overbought territory. we have a companies, goldman in in u.s., the likes of asml europe, big bellwethers, they will give us the guide and money managers will be getting under the hood of those profit results to see whether we have any legs to push is higher. betty: thank you so much.

adam haigh, our global markets editor. investors will be closely watching a lot of earnings this week, including from the big bang, citigroup, bank of america and goldman sachs, they share their fourth quarter bank earning rollout. off results,icked j.p. morgan climbed to a new record. wells fargo dropped before recovering. let's head to the wall with remy. we need to know about the banks this week. looking at what happened was wells fargo and jpmorgan, it is interesting because with the jpmorgan, they came and one with estimates in terms of earnings and revenue, just a $60 million miss, not too much in the grand scheme, but the weight from friday, the head to what is happening with citibank and the other banks, is what is happening with trading revenues. his is for 289, trading revenues with jpmorgan. we saw this on friday.

now have the numbers entered this is the third quarter, the is at itsming in lowest in the past three years almost chart, 2.2 2 billion, the off time that happened was of the star here. in terms of equity revenue, we're hitting the bottom, 1.1 5 billion. it is a bigger fall than expected, down by about 34%, an expectation of about 19%. you talk about jpmorgan and the share price, still rising to a record high. it might be because of what is happening here, because of the tax windfall these banks and other banks are very well going to be seeing. for jpmorgan in orange, wells fargo in blue, we are expecting them to see a corporate tax rate of 19% from their effective tax rate before of 30%. belysts thought it would point-20 2%, so it beat expectations. it means they will have a

windfall, $3.5 billion each way. let's head over to the side of the terminal screen them a i want to show you what has been happening in terms of citigroup. this is their fixed sales and trading revenue, and also bank of america. you can see for the past two quarters, up through the third quarter, you can see this is been following into the negative, down 15%. we might expect this will be happening similar to what is happening with jpmorgan and wells fargo. let me flip this one more time. did it change? not really. but this is actually bank of america. this is also fixed sales and training, down by 18.6%. bloomberg intelligence is saying when this white bar fills in, we are expecting it to fall, about 15% or so. not as bad as the third quarter, if it does come true, but it would be the third consecutive quarter in a row of negative growth there.

let's take a look at what is happening with revenue growth and earnings per share, this is 60 53. what we're seeing here, red and blue is revenue growth, that is citi, blues bank of america. you can see it actually finally switched into growth mode here, and bloomberg intelligence is thinking that is what will happen here, as well. for citibank, were expecting that to rise about 2%, and earnings will rise about 6%. they maymerica says rise by 6%, in its earnings per share may rise by about 20%. if that happens, it would be the best of its peers and we will be looking at bank of america on wednesday here in wall street. citibank on tuesday. that is your slew of terminal charts to know. rates for the banks, kicking off with citibank, and bank of america

and goldman sachs and morgan stanley. let's turn to the macro front, u.s. inflation accelerated in december, but will it be enough to accelerate the pace of rate hikes by the fed? with a kathleen hays look ahead to the bank of japan as well. let's start with the u.s. data. able to be to be sustained when it comes to these price pressures? kathleen: this is a big question, it's a must like a scach test.st -- roar be the beginning of a move up in inflation that bond bears may be hoping for or betting on. u.s. cpi accelerated year-over-year to 1.8% in december from 1.7% in november. two drivers, auto prices, some saying, but there are lingering

hurricane effects, eagle had to replace a lot of cars. medical goods prices rose, but that is indicating a rising economy. people are saying it is a less cyclical indicator. services are recovering. -- sorry, wrong one. 146. here we have the services numbers, inflation is a big drop in .17, starting to recover, flattening out, year-over-year still in negative territory. bloomberg economics is writing about the report, saying the core cpi surprise, they think it is a surprise this year, rising lowflation.rald but strong retail sales they think are solved. 10.58.ure was up to

the, the odds -- excuse me, march rate hike increased substantially, showing the odds of a march hike are up to 88%. before the report, they were down around 74%. the two-year note got hammered, rising above 2%. we've not seen a 2-year note above 2% for a while. betty: what does this mean, as we have been debating about, for fed policy? kathleen: inflation conundrum. we have the president of the philly fed saying he still sees to rate hikes, cautious on inflation and things that will eventually rise, that for 2018, unlike the fed consensus, he thinks to our find new -- two are fine. we also had talks of the fed moving to price level targeting. the thing you have to takeaway

is it would change with the fed is willing to see inflation go. they would be willing to let go higher longer, growth at a range of 1.5%-3% is more appropriate. 711. look at what you can see is these two key measures of inflation, consumer prices, the core of 21.8%, that is not the fed's key inflation gauge, this is. this is down to 1.5%, the target is 2%. the difference between these two, cpi waits the prices in a basket, the other does the same except for one thing, if stake gets more expensive and you buy less steak in more hamburger, you have a lower rate of inflation. that is the difference between the two. alan greenspan is the one who originally targeted that. it is not a done deal, the fed

still has questions. betty: thank you so much, kathleen hays. coming up, cap australia's job market continue its stream run into 2018? history says it is not likely. we will look at the implications and why that is. this is bloomberg. ♪

♪ betty: i am betty liu in new york. haidi: i'm haidi lun in sydney, you are watching "daybreak: australia." if history is a guide, the australian job markets phenomenal pickup in 2017 is unlikely to be repeated this year. our asian economy editor is here. historically what we have seen in australia, strong unemployment is followed i a weaker year. why do we follow that pattern? have theing is, we australian situation where

historically, that is right, but we also have record high employment vacancies as well, which would normally say another good year. i'm going to be boring and say we will be in between. wage prices have not gone up, interest rates are still low, it is cheap to hire and in fact. a the same time, incomes and rising, people have high debt, so there has to be a ceiling on how much employment you actually need. my sense is it will go up gradually. nonetheless, in australia, you hire over 40,000 people to keep it where it is. we will probably have a steady rise. it is hard to maintain that level, i think. hiringave not been much and then all of a sudden it came up, and now it is down a bit. employment is at 5%, what happens when we get there?

michael: as donald trump would say, a big nothing burger. they have rocketed through that number in the u.s. and u.k., and the question is whether it applies anymore. there's no reason to think it will apply more and australia. the question again is, will there be inflation out there? some voices are saying this will be the year when it finally hits, they were saying that last year as well. given what happened to the u.s. last week, perhaps we are on the cusp of seeing inflation come through, and things may change. the labor market will tighten. betty: michael, it is unusual for developed economies, australia has a pretty robust population growth. how is that impacting the labor market? michael: as i said, it just means we need to hire more and more people in order to stop unemployment from rising. it has its downside. for your average australian, all it means is eager -- bigger

queues, it doesn't benefit anyone at all. jump a fewight places solely based on the immigration program, there are so many talented and capable people coming into it that it lists the economy of the country -- it lifts the economy of the country. betty: thank you so much. our asian economy editor there on the tightening labor market in australia. the news in focus as trading week begins, the world's is talking about an exit from an iron ore mine. paul: none of the three families

are making any comment about the rumor, sell observers are invited to draw their own conclusions from the following information. the mine has made no money or generated no cash since the terrible disaster back in november 2015 when the dam collapsed in 19 people lost their lives. billione committed 2.3 for restoration work there, there are lawsuits from brazilian authorities and civil suits, potentially more than 50 billion, and the three companies have until april to reach a settlement on that. refused to help with sam marcos debt situation. these could be potentially reasons the door. people familiar with the matter say bhp still wants royalties for the life of the mine is part of the deal but would continue to pay for its share of liabilities. as you mentioned, bhp wanting $1

billion or it's half of the 50% stake it has an samarco. we'll have to see what shakes out incoming this weeks. haidi: we are heading for a repeat of these lengthy strikes in talks. paul: one would hope not, the strike in february and march going on 44 days last year, 2.5 thousand workers walking of the job, and an agreement to revisit in june this year. last year it seemed a long way away, but it is creeping up fast. a new union maybe forming at the people.group of 250-300 they are encouraging more members to join. says weer of that union have had conversations with company executives and bhp is ready to talk. we will have a brief on that, as well. haidi: don't forget, were also

getting quarterly reports from bhp this week. you can always find in-depth and animals -- in-depth and analysts on bloomberg radio. at can download bloombergradio.com. ♪

♪ a quick check of the latest business flash headlines, the u.s. has accused alibaba of , anothertakes online sign of increasing trade tensions. -- the alibaba president says it is not an upper -- accurate representation of the copies efforts to protect intellectual property. he called this politicized and biased. -- the coming can double

profit within five years by exporting the potential of the jeep brand. we were told that it could grab as much as 20% of the global suv market. he also says u.s. tax cuts could further boost profits by another $1 billion per year. unit says it does not plan to sell its subsidiary. it was suspended from trade on friday in shanghai ahead of a major announcement, that the company says the subsidiary investment,rategic the airline had been suspended from investment pending announcement of an asset restructuring. haidi: that is all for "daybreak: australia" this morning, but "daybreak: asia" is next. a vohn, some great conversations ahead. thene: where kicking off

asia financial forum. of course, a lot to talk about when it comes to brexit. we talked about the pound rallying last week, we could possibly be heading into a soft brexit. le will be asking inga bea about that. she was one of the heavyweights to meet with the prime minister, theresa may. the prime minister urged companies to invest the benefits of preserving london as i financial hub -- as a financial hub. from: no crisis predicted the chief asia-pacific economist ahead of the china fourth-quarter gdp numbers due out this week. also interestingly enough, she expects the fed to raise rates at least two times this year, but also says the fed might be behind the curve at this point. haidi: a very interesting week

jampacked. that is it for "daybreak: australia." this is bloomberg. ♪

♪ kong, i am0 in hong yvonne man, welcome to "daybreak: asia." the top stories, asian starts -- stocks looking at a right start. a fed u.s. they to, firms hike. president trump said an immigration deal is probably dead as tension grows to keep the u.s. government funded past friday. in newi am betty lou york, it is just after 6:00 p.m. on sunday evening. wells fargo flagging a surprise $7 billion windfall from u.s. tax reform.