>> doing a deal, president trump hints at a trade agreement with china, goldman sachs also sees a resolution. >> president xi preparing to offer comments on the trade spat, we will be live. >> the bank of japan governor talks exit plan. talking about normalization to begin in the next five years. >> mark zuckerberg will be facing the music in congress tomorrow, he will admit to facebook's problems and that

they are his responsibilities. am haidifrom sydney, i lun. two hours away from the open markets in asia. p.m. i'mp.m. -- 6:00 here in new york betty liu. ,watching wall street and how it will play into the trading day in asia. fed minutes coming out this week, mark zuckerberg facing the music, and of course the continued trade intentions, but the focus today seemed to be on the rebound in the markets. investors coming back with a roar here on monday, the s&p rebounding 3/10 of a percent. point, thening 46 nasdaq also rising by .5%. we got excited by the rally, because we have seen so many declines over the last several sessions, certainly within a

little bit of relief today in the markets. haidi: a bit of relief, but certainly tempered by the late session report that fbi agents had raided the office of president trump's lawyers. these uncertainties continue to cap the sort of froth we are seeing in the gains. in asia, looking mixed. hong kong looking better, as is australia, but tokyo, we could see headwinds. new zealand underway with a downside of a 10th of a percent. the kiwi dollar without performer in the g10 space, u.s. dollar falling against all of its peers. atures in australia, flat the moment, the aussie dollar just above the $.70 level. so close to the three-month lows we have been seeing. big week for the aussie, trade numbers coming out at the end of the week. and one of 5.38. gold catching a little bit of a big, but we are paring some of that at the moment.

crude over the $62 mark, as we look at the inventory reports. going into key reports out of the iea and opec later this week. a rebound for iron ore, 3% higher. now first word news with jessica summers. steps intoesident xi the spotlight leader, making a keynote speech. we're waiting to see if you offer his first direct reaction to the tariff threats coming from washington. so far, he has let his diplomats take the lead. the speech comes 40 years after economic reforms began transforming china. evaluatingid to be the potential impact to the evaluating -- d evaluating the yuan. senior officials are studying a two-pronged reaction, one that

looks at the currency as a tool in trade negotiations, the other model on what could happen if the u.n. would devalue it to offset the impact from tariffs. the fbi has rated the offices of president trump's longtime lawyer, season documents after a special counseler applied research warrants. coh hase been an key figure in a series of legal issues. pornography,000 to star stormy daniels over an affair she said she had with donald trump. cohen said he used his own money for the payment. and mark zuckerberg will tell congress later that facebook's problems are his responsibility. he is due to give today's of testimony -- two days of testimony. he said that the company did not do enough to prevent harm to users and he will try to explain how much facebook contributes to the world. he says he also did not realize

the consequences. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. >> thank you. turning back to the u.s. close call about the final hour, once again, precisely the final half-hour. more on a decent rebound. and we lost the game, as was mentioned on the news of the fbi raid. >> the raids did not add any gains to the market. the concern of course is the political risk, when you have something close to the president being rated it does raise the specter of the big concern of the future of the presidency. take a look at what happened in the final half-hour. kaboom, stocks fell and what you had in the dow was a 2% gain before it lost all of it. same for the s&p. what was interesting was when the stocks were up, there were

no convictions from bonds. you did not see the move to gold. and oil had been higher come although it is moving lower now. now the big movers. but by theth caps, end of the day we saw a lot of the gains evaporated. apple announcing a new launch of funds, including a new red iphone 8 plus. midseason excitement. ck getting a leg up on the cancer treatments. and that is a mixed metaphor. but hoping to bring more news and investment to the stock. deutsche bank my new day of the first ceo who took over immediately for john cryan. announcing big moves, he believes the u.s. presence for the bank is a big priority. and the spirit airlines getting a big sucker punch from analysts who have moved into neutral. quickly, getting into the bloomberg. 200 dayave is the s&p

moving average, this has been closely watched. we saw the selloff. the most recent selloffs, particularly on friday, slicing through the 200 day moving average, can we hold it? it is continuing to be an area of focus, because of what looked like a rebound. what some say was a stellar rebound, that clearly faltered setting us up for tuesday. >> thank you. ofwe mentioned earlier, kind suffering a really strong rally, president trump now expressing optimism that the u.s. has reached a deal with the china to ease trade tensions. getting it over to washington, end who is negotiating an to the standoff and what does the u.s. actually want? joe: not clear who is negotiating. the treasury secretary has a

said that he has been in talks, or has had conversations with the chinese vice premier, but there is no direct indication that subcabinet level officials from either country are in the midst of negotiations, there seems to be optimism on the part of president trump, who puts a great deal of stock in his ability to mold personal relationships to bring about deals. there are not any signs from the chinese side that there are ongoing talks. i think that president xi's speech later on will be sort of the next big indicator which way this is going to go. the u.s. is china to put pressure, first on intellectual property rights and the theft of intellectual property that the u.s. says the chinese engaged in, it has also moved into auto tariffs and financial services. so there are a number of things

on the table. >> is there an indication of what the u.s. priority is in terms of the wish list, because you said he is now talking about auto tariffs, is there any clarity on what they want? joe: not really. it seems pretty clear that there was a theft of intellectual property that the president has hammered on in announcing the proposed tariffs, but then today they were talking about auto tariffs, because there is a substantial tariff on u.s. autos going to china and he wants to raise that on chinese autos coming to the u.s., which is a very small fraction. a lot of it comes from gm and ford, who are planning on importing cars from their assembly lines in china and back into the u.s. it is a very small market going this way. betty: moving on from trade to the news that broke later in the

trade today about michael cohen and the fbi raid. what more do we know and what is the signal? thatthis was a referral robert mueller had made to the justice department, which passed it along to the new york district, the district attorney's office in new york, indicating that is something that fell outside the scope of what he was charged with doing, and it might've been some allegations or evidence he had covered in the course of the investigation that had to do with other matters that involve the president's attorney. now this could be having to do with the alleged hush money to stormy daniels, other financial issues, or it could be something related to the russia investigation, or it could be all three. this is a separate line of prosecution being carried out

by the u.s. attorney in new york. betty: certainly more to come on this and we will see how much it spooks the market. one area that could be reassuring to the market, is the upcoming meeting between the president and the north korean leader kim jong on. what more details do we know about this, and what does the president hope to gain from the meeting? joe: the main thing that we know now is that the u.s. has confirmed that indeed the north korean offer was serious. saying it agrees with the idea of the denuclearization of the peninsula -- that may mean something different for kim jong-un, than it does for president trump. the u.s. has a nuclear umbrella protection for south korea, japan and other allies that the u.s. would use its nuclear power

to respond to any threat to them. befores has been seen with the north koreans, that they will offer up to stop or freeze their program, and offer, they have made a lot of offers of getting rid of their nuclear arsenal, but yet they tend to back away from that in negotiations. betty: ok, thank you. joe, we will leave it there in washington. still ahead, we will speak with the head of spin tech and how they are preparing for a cashless future. haidi: and the chairman of global science tells us about exponential growth in the sector and how it plans to catch up with vanguard. this is bloomberg. ♪

>> we are counting down to this

in the open and we saw equity futures looking unchanged as we are a little under two hours away from the open in australia. betty: i'm betty liu. haidi: i'm haidi lun. you are watching "bloomberg daybreak: australia." investors trying to find an equilibrium, rather than balancing the unknown risks. futures ahead of the sydney open, pretty uninspired, but let's take a look at yesterday. we saw a reasonable session in asia, largely parking the trade concerns. uphad sydney stocks closing a percent. asia, marginally higher. and we saw productivity in the early part of the u.s. session. sayshe world's biggest etf that -- by the end of 2025. the projection is higher than the industry consensus.

jim strugger.by - is volatility back with us? will see the trade values go up, many investors will try to use etff. the volumesest -- will go up dramatically. haidi: how much and in what way will it change, as the market is clearly recalibrating itself? >> i measure the business has changed. investors who want to make a view on what they see the markets, they can use etf, whether it is direct exposure to the equity markets, or into the industries themselves. haidi: we said the world's biggest etf, what are you doing

in asia? jim: i love coming here. what we see around the globe is investors trying to -- china tries get the better outcome for their investment portfolio, whether it is short-term or long-term. we see growth in this market across the world and we continue to want to be part of that growth, to manage m&a's in australia. betty: getting back to that question on the volatility, many of the value investors say, this is a time for value investing to shine because everything is going down right now and he really have to pick where you are going to buy in these markets. does that propose a challenge then to the growth of the etf? jim: i do not think it poses a challenge. you can play the value through using etf's in a variety of ways, so there is an opportunity there.

there are a lot of different ways to play, with a summit choices around the globe, there is a way to play in the market view, and in the short-term or the long-term. betty: ok, what about the big guns in this etf market, the vanguards and blackrock's of this world, how do you plan on competing with them? jim: head on. we can be with them every day. we think it is very healthy for the industry to have large, global players in this space, working to bring the best to the client and to our customers, who want to use etf's. and we are willing to compete every day with blackrock, vanguard and all others. haidi: where we at in the growth cycle, how late in the cycle are we? jim: good question, it is always hard to determine what is right there. you want to look at your portfolio and make sure you feel like it is a for the long-term and what we see today, which is

volatile markets. haidi: with the u.s., president aid a calling the cohen ria whole new level of the fairness. i mean, it has been hard for investors to be able to see the implications of these daily tweets and developments, in how they manage their portfolios. jim: there is a lot of noise coming out of the u.s. and it is a challenge. you want to try to get through that and look at your underlying portfolio and what is going on in the economy, what is driving company growth and how you can make sure you position your portfolio for the long-term outcomes, and honestly, ignore some of the short-term noise. betty: ok, thank you. state street global advisors executive vice president. more explanation on the headlines. president trump: the fbi raid on wholeongtime attorney a "

new level of unfairness." camesaying that the raid after the deputy attorney general approved the referral. this is again special counsel robert mueller he went to the deputy attorney general and since the matter involved, president trump's lawyer -- should be handled by the u.s. attorney of the southern district of new york, that is how the raid came about. haidi: we know that michael cohen has been in the headlines, he was a lawyer that paid $130,000 to stormy daniels, it has been kind of embroiled in all of this. and the raid suggests that the federal agents, the fbi, prosecutors, are conducting the criminal investigation. it is unclear at this stage who the subject is and if he is the sole focus, but certainly just another twist in the story for investors to have to contend with. we saw the news of the raid

driving down, we had the u.s. market industries up to 2% you to really paring those gains into the close of the session. so betty, just a level of uncertainty i guess. [laughter] one more quote from president trump, this on syria, saying that the chemical attacks, the response "will be met forcefully." just more comments coming from the president on the back -- on the attack. again, the response will be met forcefully and it will be decided on tonight or shortly thereafter, from the president. this is bloomberg. ♪

>> haidi: i'm haidi lun. betty: i'm betty liu. you are watching "bloomberg daybreak: australia." mark zuckerberg in washington

ahead of his testimony, and he will tell lawmakers that all of the social network's problems are his responsibility, including fake news, interference, haiti speech and the data privacy, but will it be enough? sarah frier is covering all of that for us. will it be enough? >> zuckerberg has to hope it will. today with lawmakers he seemed to make headway, a lot of them saying that they feel like he cares about the issues, they felt like he was sincere. this comes after a lot of preparation for this. the fact of the matter is facebook cannot answer some of the big questions about what happened to the data years ago, where it ended up and how many people were affected. they do not know. so mark zuckerberg will have to hope that his personal apologies, as well as promises to do better in the future, which promises we have heard many times, signals a real change at the company. haidi: we expect any news to be

announced to that affect, or will he be rehashing the same thing? sarah: i think that they will be ready with some stuff to answer questions if they come up. i remember in the november hearing for facebook on the russian interference and elections, facebook was prepared with a number on 126 million users that saw the content that russia was trying to spread. and in the hearing, it was the first time they were asked about instagram and they had a number prepared for that as well. so i think that there will be moments like that, but over all i think that mark zuckerberg will stick to the talking points we have seen, and it try to not looked offensive. -- look defensive. haidi: there has been criticism from more high profile people who have come out and it said part of the issue has been a mark zuckerberg's star power, right, the silicon valley

enamored by these personalities and it is not good for these companies. sarah: you mentioned governance and that is an interesting problem here. facebook is controlled by mark zuckerberg, yet, as you note he has come out and said facebook is a community and we're focused on doing good for the world, we want to make happy -- make people happy. it is not clear to the public that the incentives are aligned. you can be a community on one hand, then a company controlled by one person on the other hand? so there is certainly some contradiction in how facebook has tried to portray itself. and portray zuckerberg as a likable or affable person who really just has your best interest in mind. haidi: what are investors expecting over the coming days? any indication that this movement is slowing or that they

will be able to get through this soon? sarah: you see one or the other, investors who say that this is a great buying opportunity, because it cannot get any worse than facebook saying that all of the user data could potentially be exposed, and then you get other investors who say this time it is serious. we have not really heard the sort of bashing of the facebook far and wide yet, with this level of the company taking it seriously. and the company is currently doing a review of all of its products to try to see how they use user data in ways that may we are not fully vetting. and they are trying to be more conservative about that, which is therefore could affect their advertising targeting effectiveness. haidi: thank you, sarah. covering the zuckerberg testimony. and bloomberg technology will have special coverage of the

congressional testimony, from 3:30 a.m. sydney time. coming up, xi will address the world forum and offer a clue on trade. this is bloomberg. ♪ this wi-fi is fast.

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>> markets open in 90 minutes time, not much evidence fired start to the trading day. futures unchanged as we saw the u.s. stocks holding on to their gains, but well off the session highs. haidi: i'm haidi lun. betty: i'm betty liu. 6:30 p.m. in new york. first word news with cisco summers now. -- jessica summers now. jessica: the president hinting that the u.s. and china will reach a deal with trade tensions. he says the administration will come to an agreement on the dispute that has prompted fears of a trade war. goldman sachs chief economist

says that the bank expects that the two countries will reach a compromise. is alibaba chairman jack ma prepared to abandon his commitment to help create jobs in the u.s., if they trade spat where since. -- worsens. he made the threat on the sidelines of the forum. the alibaba boss met president trump in january of laughter, saying he wanted to boost retail in the united states and create one million new jobs. and the congressional budget office says the u.s. deficit will top $1 trillion by 2020, that is two years earlier than previously predicted. the tax cuts and spending increases will grow the deficit by $1.9 trillion over 11 years, boostdoing little to long-term growth. is peaking at 4% in 2021.

and the bank of japan says it will consider normalizing policy over the next five years, the underlined how far the targets have slipped. speaking in 2013, the governor said the boj was aiming to hit 2% inflation within two years. now he says the bank hopes to reach that goal next year. reached theas not point to consider exit and it is hard to talk about the specifics of any exit, as it could confuse the market. it depends on economic and financial conditions, and consumer prices. jessica: global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. you.: thank haidi: let's make sure to keep tabs on how the markets are trading. right now in new zealand, down about 1/10 of 1%.

the kiwi also trading just about unchanged. futures in all started, 90 minutes away from the open. carryingchanged, not on much from the rally that we saw. a little bit under the aussie dollar. taking a closer look at the currency market, a run into safety lifting the japanese jen. continues -- yen. continues to do so today. yield on the 10 year come down. that is in part because of the s&p rallying today, giving back the gains late in the afternoon as the news about the fbi raid en, achael a loncoh longtime lawyer for donald trump, spooked the market again. haidi: take a look at the set up in asia. we have our global market editor. this is the yield curve for treasuries.

should we be getting worried? >> the latest thing in the debate has been spurred by what is going on in the -- markets, not really about the bond market per se, but clearly the spread on treasuries continues to be an issue. it is to be thought of as a pre-reception indicator and it has indeed been that in many instances in history. this chart shows you on the terminal that we are still around those levels, causing anxiety for people. i think the debate is moving a little bit at the moment, it is now focusing on the overnight index swaps rates. particularly, one month forward on those swaps. jpmorgan, making the point yesterday that we have already seen an inversion of the curve out to 2020, if you are looking rates.ioois we may be reaching a situation

where the investors are marking mistakes from the federal reserve, or some sort of end of psychodynamics. outrgan was keen to point which of those two explanations is leading to the inversion, but most of the flow data speaks to the idea that is probably a policy mistake. we should look at it with the fact that volumes are often tricky and going out two or three years could be a liquidity issue, so maybe people should not read too much into it, but certainly one to keep an eye on. betty: you have been looking at the chinese property companies as well bid haidi: they are tricky -- as well. haidi: they are tricky to value. which camp is winning? adam: what is remarkable about the chinese property sector is opinion, justt within the analyst community, there are folks in china looking deeply into this. land, theof future

big developers, they have such a huge range of bull versus their opinions in terms of the price targets with some of the stocks. it is largely a story around how much you want to weigh in, place the emphasis on valuations as high debt burdens versus the property cycle that continues to kind of deliver in china. so a lot of the stocks have done very well. that being targeted over the years by some short-sellers who built up decent short positions, only to see those short positions get massively squeezed as a some of the stocks have run up, as the earnings projections have gotten pushed up and kind of the bad loan side of things not really materializing. he continues to divide opinion in china. and the property sector as a whole, if you want to take a bit on the sector -- bet on the

sector, one analyst says it is such a tough call on valuations. so it would be a brave bet at this point. betty: thank you so much. and as we mentioned, si is just -- xi is just hours away from making his keynote address at the boao forum. his speech will be closely watched for any response to the u.s. tariff threats, as well as any hint of financial reforms. we will go to achieve asia correspondent, stephen engle. any clue what we might hear from the chinese president? clues as tore are what he will say, this is the 40th anniversary of the opening up of china to the outside world, outside investors. he has wanted to make an announcement on improving reform measures to open up the country. also, this is the 30th anniversary of the founding of

high non-as a province, and there is speculation he could be announcing something along the lines of making the city a free-trade report, or even some kind of -- port, or even some kind of gesture toward gaming down the line. the question is what he will say about the escalating trade spat with the united states. the consensus last night at dinner among a number of peers is that he probably will not break from form, that is he will likely namee -- not the united states or donald trump by name, but he will be the champion of globalization and the freer of trade against the protectionism coming outside -- coming from outside of china. you never know, he is a strengthened later with an unlimited term, potentially, so he could come out swinging. we have not heard much from china officially after the second round of proposed traded

tariffs from the trump administration. but going around the hallways here, the big question on everybody's mind is, is there going to be a trade war. i say, do not ask me. i ask the questions, nobody seems to know whether it will escalate. one thing for sure, here on chinese soil the criticism of china is much less than the criticism of the united states. go figure. haidi: i do not know if i should ask this question, because nobody can give us this answer, but will we see a retaliation to the trump retaliation to the tariffs? hearing,we are according to people familiar with the situation, that at least the chinese authorities htisthisdering how to use negotiations, the

weakening of the currency, but much more important what would be the impact. it is a risky proposition to de valuate currency, it could mean a war in this part of the world. it could give reason for president trump to justifiably name china a currency manipulator. they could spark outflows from china, and then a return to what happened in 2015, the markets being embroiled in outflows and is some of the volatility in china. so they do not necessarily -- that will not necessarily plan to china's hand. a number of key deputies of xi have either come, or they have come and they have left, hunkering down and forming a strategy on how to counter the latest threats from the trump administration, including the finance minister who was here

briefly, he was going to be on a panel that i was going to moderate tomorrow, he has pulled out of that, perhaps to go back to beijing and a start formulating a strategy. haidi: thank you so much. stephen engle, our chief correspondent. getting all the details of the keynote speech later on today from president xi. earlier, stephen engle spoke with elizabeth gains as a she says the trade friction between the u.s. and china will not have much of an impact on demand at all. >> we are a supplier of iron ore, 170 million tons a year. china imports about a billion tons of iron ore, and steel. of the steel production, only one million tons is exported to the u.s.. most of it is -- and most of it is consumed domestically. what we see is the demand for steel in china is staying

strong, so we do not think the tariffs, given the small amount exported to the u.s., will have much impact on our business in the demand for iron ore. >> but the reverberations of the global economy will have an effect, obviously, and perhaps australia will be exempt on the steel tariffs, but china is going to be in the crosshairs. some of the mills there are under constraints right now. even malcolm turnbull said that trade wars is a race to the bottom. you will feel it. >> i think there is potential for that. high,rofitability is very it is production that has been under restrictions.and in improve theto environment, we have had the winter period, but we are coming out of that and the mills are profitable. at the moment, we are seeing the fundamentals are strong. i think i would agree with our prime minister in that i do

nothing that trade wars over a long time are conducive to long-term world growth. >> how do you see the demand going forward? you are not saying the tariffs affecting you, but do we go down the road, are we going toward protectionism? >> i think there is still a lot of ongoing dialogue, as recently as today there has been a tweet from president trump, saying that china is a valued friend and partner and i think there is an understanding that we do not want to see a prolonged trade war. we know there is protectionism coming with the tariffs, but i think that there is a broader sense that there should be a common sense approach to this world trade. haidi: again, that was elizabeth gaines speaking with the stephen engle. coming up, moving from the atm to mobile apps, we speak with live from san

francisco. this is bloomberg. ♪

betty: good morning. i'm betty liu. haidi: i'm haidi lun. you are watching "bloomberg daybreak: australia." a quick check of the headlines, one of cbs's biggest investors has written to the board saying that they should only proceed with a deal with viacom if the terms can be agreed. by come wants the cbs team to lead in a combined company and for cbs to be confiscated, if that is not have invaded it also says the merger -- does not happen. betty: the founder and largest shareholder of noble group pushing creditors for a new restructuring deal. richard ellman resigning from the board last month, over what were called differences of opinion about the future of the company. the group would hand control to

creditors, all but wiping out equity investors. elman want to shareholders to have 15% after any deal. haidi: uber going into the bike rental industry with $100 million in cash to jumpstart the deal. it already has approval to operate in san francisco and has agreed to integrate its service into the mobile app. the ceo says that he aims to work with other bike renters as well, but declined to say with a means to the multibillion-dollar losses for uber. is in focus in san francisco. we go to our first guest, the ceo of citi fintech. >> thank you. hello from san francisco. i am here with the ceo of citi fintech, only at the head of the company for the past year, but i

think you would consider yourself a lifer, because you are really celebrating 30 years at citi. you just gave your keynote address, talking about mobile strategy. what are you talking about? itsnde: city just launched bank strategy, so what does that really mean from a digital perspective, and how are we going to reimagine our relationship with our customers and drive a different set of services, and really take a step back and understand how we serve in a different way. i was here to share and unveil some of those new key features that we are going to launch in the next few weeks. >> a lot of folks have said that startupsin fintech could mean the decline of big banks, the big financials, but what would you say to that and is this the answer to those concerns? yolande: it is interesting, a few years ago it was that fintechs would eat big banks, about have seen a shift in the

market and now it is about how to we partnered together. so i think that a lot of fintech s have moved from their model to a b to b model and it is up to the banks on how to integrate the services to provide different solutions to customers in a very different way. i think we have seen a lot more of the merger and opportunity to really integrate in this space. >> that integration is really smart, obvious it, because you guys are doing it as well. as if you are trying to be the aggregator. one interesting thing is you want to pull a non--citi data, so basically opening yourself up. yolande: as we sit down to look at how we serve the customer, one thing they said is i want to be able to see my entire financial profile in one place and be able to make decisions off of that. we said that we would invite citi customers to come in, because this is the beginning of a platform to serve customers in a different way.

if you think about insights, people understanding their spending. we have a social obligation to help people and educate them in the financial space. so if we help somebody who is not a citi customer, it is the right thing to do. >> but you want them to be a customer. yolande: eventually. we can help them of we understand are spending habits, there is a way we can serve them. but it is not an intent to be able to bombard them with stuff or force them to become a customer. >> a lot of our viewers are waking up in the asian pacific. what is in it for them? yolande: i think the way that we are looking at everything is we are building a set of global services. so as we think about wellness, all of these services -- i think asia does a great job of putting the customer in the center of all they do, and we can see things that were born in fintech that have that reusability. open blanket baking, that

enabled us to work with -- di rectly as a partner. and with our messaging communication. we got them to reduce 60% of inbound calls where we have moved to messaging through social platforms, as an example. i think there is a lot of opportunity to leverage ourselves. >> one thing that people are wondering also, that with the rise of digitization, there is also, even your ceo has said that employees might take the brunt of it. that 50% of people in bank branches might lose their jobs. what do you say to that? yolande: i think there is an evolution. if you can automate the simple things, you can start to invest in maturing people to be able to take on those bigger problems, so to me it is a shift, more than putting people out of work. as long as we can create the

right education for people, it is a natural progression and a healthy one. >> it is something that we cannot stop. that we know for sure. thank you very much, yolande piazza. haidi: thank you, fascinating stuff. a lot more conversations coming up, including an exclusive interview, speaking to the dallas fed presidents live out of beijing. you are catching from new york. this is bloomberg. ♪

>> i'm haidi lun. betty: i'm betty liu. you are watching "bloomberg daybreak: australia." check of the latest headlines. monsanto shares surging after the wall street journal reported the the u.s. will approve

takeover, that would remove the last major regulatory obstacle to the biggest deal in the crop chemicals industry. last month, the justice department officials were not satisfied with their plan, because of concerns of the transaction hurting competition. worldwide said it plans to buy back 10 million shares from hna as part of the selloff of its stake in the hotel company. h and a offering just over 6 million shares. and hilton will increase their purchase to 16 .5 million shares. goldman sachs and a jpmorgan are among the underwriters of the offering. betty: apple is green, it says its sights are completely powered by renewable energy, including retail stores, data centers and other facilities in 43 countries. corporations have emerged as big buyers of clean energy, driven by tech companies that say that they are conscious of climate change.

it says it has enough clean energy to me all of its needs, says google. haidi: we have yvonne and betty up next, taking a look at what is coming up for the next couple hours. [laughter] betty: yes, a lot to talk about here. we are counting down to the speech from xi. at the heart of the matter in china is the ceo of the dallas fed, who will talk about the trade tensions, what he would like to hear from president xi today and can the president strike a right balance between taking a hit from donald trump, while delivering a message on reform. and what is the reaction from the fed when it comes to these highereactions, spiking and higher inflation from the tariffs, does the fed have to respond? >> that is right. somebody who is frustrated with what is going on with trade is

the former u.s. congress secretary -- commerce secretary, who ran a different kind of department than wilbur ross. he is frustrated by the trade tensions going on right now is he says he is concerned that negotiations are not going to be enough, that they will not happen in time for the punitive measures to take effect in the next few months. haidi: yes, really getting a unique view from a person who bridges the u.s. and china and the world of commerce, the head of international affairs. on the be commenting fact that the chamber has said essentially the tariffs are a tax on american consumers, a tax on businesses. what he thinks will be the reaction out of beijing and whether there will be a level of negotiation and what it might look like. plenty more to come. top,s we said at the very

we are watching for the speech from president xi. to see if we will get any reaction from beijing on the latest in the trade war developing. this is the latest from "bloomberg daybreak: australia." ♪ welcome to the xfinity store.

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yvonne: 7:00 a.m. in hong kong. i am yvonne man. welcome to "daybreak asia." the top stories this tuesday -- doing a deal. hints at a trade group in china. president xi may offer his first comment on this. we will be in height on. betty: from bloomberg's global headquarters, and betty liu in new york. the bank of japan governor talking exit plans. every pico kuroda expects normalization --