"bloombergp on best," the stories that shape the economy. >> we are going to raise those tariffs. >> jay powell sent a message to markets as he testifies. >> they will sit and wait. growsest in hong kong more intense. saudi aramco fleshes out its

policy. sachs stumbles into a credit controversy. alibaba shatters sales records in singles' day. >> $38.3 billion. juliette: plus the top interviews featuring bankers and central bankers from around the globe. ing --m see >> i see the level as appropriate for the economy we have. >> negative rates are something which hurt the economy. >> the important message for the market is these interest rates are low for a prolonged pe riod. juliette: it is straight ahead

on "bloomberg best." ♪ juliette: hello and welcome. this is "bloomberg best." your review of the most important business news, analysis, and interviews. let's start with a day bye day look at the top headlines. the last two weekends have seen protests in the streets of hong kong. with monday usually being a day to recover. this monday, unrest spilled over into the work week. stocks in hong kong fell the most since late august as protests glided after police shot and wounded a protester. >> you mainly see this kind of chaos on the weekends. all over hong kong. not usually this weekday in the middle of the day. the lunch hour kind of

situation. where there was tear gas, chaos in the streets. it was spurred by, as you noted, .he shooting, live shots protesters had already called for a general strike. business have been able to operate and the central part of the city. relatively without too much disruption. that changed today. 500 eking out a small gain. not much intake into the china negotiations. said a dealt between the u.s. and china could happen soon.

>> if we do not make a deal, we raiseing to substantially tariffs. >> you may be got a little bit of a hint at some progress, but we did not get the news somewhere hoping for. get an announcement of a signing date to meet with jie zheng paying. -- xi. veryts did not seem excited. steady as she goes. that was the message from jay powell. he said the central bank is ready to deal with challenges. be watchinging to

carefully incoming data. we will act appropriately. >> he did not make any news. that is about where they are going to stay as long as the economy remains where it is. they are going to keep an eye on those things. they cannot much more so they will sit and wait. juliette: trade talks between the u.s. and china have apparently hit a snag over agricultural products. rattling investors. the agricultural purchase of where the most done part of the deal. >> if there is one aspect of the talks, it is, what is happening

with these agricultural purchases? have -- i have been able to secure these purchases. china is using that to its advantage. trade uncertainty appears to be taking its toll on china. growth slowed more than expected. reflecting how cautious private companies have become. >> they suggest the numbers suggest 6% growth. the growth target for next year will be below 6%. economists say it underscores why china needs to secure a trade agreement. whatever agreement is reached

will have to include a provision every round. >> hong kong faces a fifth consecutive day of disruption. undermining a string of public and corporate events. >> the frustration in the streets. brick, heas hit by a has passed away. the news, the government was preparing a curfew. beginning today. most of the comments coming from china are from xi. nothing necessarily new but the fact he is speaking about the hong kong situation on third-party soil is significant. violentthe continuing crimes have trampled on the loop of law. he is voicing support not only

for carrie lam but the police. violentcalling them criminals even though there has not been do process. firstg kong expecting its annual recession since 2009. it has revised forecasts for growth. froms expected to contract the previous year, according to the government. third quarter gdp shrank. how difficult is it to model future economic growth? if the protests stay as they are? >> pretty difficult. it is not good for the economy. what we are seeing right now. businesses are very down. if that continues, it is obvious with the effect is. the only question is how much. kudlow signaled the

u.s. and china are making progress in trade negotiations saying we are coming down to the short strokes. we are in communication with them every day. are we in the most treacherous phase? >> i think we are in a messy endgame. in this phase one deal, they are hashing out some of the final issues including details of chinese agricultural purchases. what sort of commitments they are making. any tariffof rollback. there is a lot that can still go wrong. aret now, all the signals we are in the endgame. 500, goingighs, s&p through the 3100 mark. record highs across the board.

juliette: still ahead as we review the week, insisting negative interest rates can have positive effects. plus an exclusive conversation with mary daly. the am a little bit open to idea of the risks are on the downside. juliette: up next, more of the week's top business stories. disneys4 disney -- launching its streaming service. this is bloomberg. ♪

this is "bloomberg best."

let's continue our global tour of the week's top is this stories and china. anre alibaba staged e-commerce blowout with its singles' day event. a sales record, bringing in more than 38 odeon u.s. dollars. u.s. for singles' day. >> we have a huge number of electronics. they are pushing a lot of products through us. new iphones. there's -- those are the top of the list. 38.3 billion dollars worth of sales this time around. whatestingly, this is people are looking at. it is a slight slowdown in the pace of the growth. analysts, investors inferring

some knowledge about what is happening to chinese consumer confidence. whether the slowdown is reflected in alibaba's singles' day numbers. missing the magic. the launch of the disney streaming service hitting technical difficulties because of overwhelming demand. is this good or bad? it creates a buzz. it feeds this narrative disney plus is such a big deal it feeds the internet. >> this is not good, it is a lack i. not what they wanted. we were speaking to them last week. they were very confident they would avoid these problems. we spoke to a lot of technology people about this and coding people who work with disney. they say this is not the end of the world. complaint levels are coming down. too many people trying to get in

the door to quickly. sharesey shores -- soared to a record high. there were fewer complaints. it has been huge for disney. getid not expect they would to 10 million this fast. >> the headlines, disney dazzles. becomesy, disney plus disney minus. at one point, it was up 7%. what disney gains is not only a lot of credit for the ceo who staked his legacy in the video sharing. it allows them to bundle together products. >> there is a report a wall street regulator is opening a probe into goldman sachs products. a tech entrepreneur tweeted

about his frustrations. the first towere break this news. a immediately triggered regulatory response. >> this has blown up. it started with david henson, the guy who created ruby on about how hening got 20 times the credit limit his wife has got. before you know it, the regulators saying, we want to look into this. the issue is whether these credit assessments banks use, financial services companies use, determining how americans borrow money, making sure there are no biases. that is where we are right now. reportedrt third-quarter earnings. it showed earnings beating

estimates. the key has been groceries. this is a category where they saw a single digit increase. it has been a real strain for them. in particular, it is boosting online sales. withoved really popular shoppers. especially at a time when the grocery strategy looks incoherent, it is a win. >> tencent out with earnings. hurt a weakening economy revenue. >> the top line and the bottom line, there was weakness. revenue up. not bad but in china, that is pretty week for chinese standards. the real weakness was in advertising. posted 25%games

growth. there was a crackdown in china. they have been able to get more games out into market. costs.ave been higher r&d and more content. we are watching for nissan to begin trading. how is this likely to play out with this relationship. >> renault has three seats on the board including its top leadership. you can imagine it will pay out in a concrete way. relying on this. it comes to hundreds of millions of dollars. that is going to be a boardroom battle that will help define how

these car room -- carmakers work together. are selling what could be ready billion dollars. could be the largest bond sale in 2019. bloomberg reporting this is a deal that has attracted more than $70 billion in orders. >> we just found out the deal has launched to the tune of $30 billion. again, showing what a great environment this is for funding. really leaving the calendar, with the biggest deal this year. the fourth-largest of all time. 10 new deals announced. most of those, like opportunistic refinancing. >> kkr is said to have

approached walgreens with a deal to bring the country private. how did this come together? ceo hasow the walgreens been talking to private equity groups about epee private of the company. they were one of the groups and discussion. we have learned they have put in a formal approach. what happens next is they will look to do diligence. >> cg capital is among the bidders. businesses that submitted by last week's deadline. they are better known for burgers then catch up. >> that is a very good question. what is the link between burgers

and french fries. really, there is none other than they are looking for a good investment. they have put the asset on the block. this is a company that is struggling. a couple of suitors have been sniffing around. for them, it is a new industry. for them, it would offer an interesting new avenue. >> boeing shares surged after there was a new timeline. track.e on some sort of positive expectations this will be back? >> that is the way the market took it. to bad news is it boils down a one month delay and expectations when the maxwell

have regulatory approval. that shifted to january instead of december. the extra do you tell boeing provided, the assurance they gave around the january timeline was taken as a big positive by investors, at least. ♪

you are watching "bloomberg best." jay powell told congress he feels the fed's currently -- current policy stance is appropriate. similar view.s a she explained why in an exclusive interview with kathleen hays. we calibrate policy to make

the race line, growth, be sustainable. haveolicy accommodation we taken, which has been rate cuts, have put policy stances in a good place to make the baseline come out. slightly above trend growth. a continued move up. i do think of that as the economy is in a good place. of course, we continue to be data-dependent and look at the risks. see if the baseline changes. is this a pause in the fed rate cut path? do we go this way, that way? option, it is where i am today. i see the level of the policy

rate right now is appropriate for the economy we have. good consumer spending, domestic momentum, but facing headwinds. we are in a moderately accommodative stance. can stay in that stance for the time it takes to get inflation back up. >> i am hearing you have paused. what you are trying to figure out now, you are saying you probably don't have to do anything. should shiftg we policy in that direction. >> we look forward. even though i have characterized the economy as in a good place, we have to look at the risks that emerge. you have the potential for the economy we have given.

trade uncertainty settles. the stimulus works. we have some upside potential. in the others, there is downside risks. we could get a furthering of trade uncertainty. idea the riskse are on the downside. i see the policy stance we have as the right one for the risks we have ahead of us. >> there is much more to come including highlights from a busy week in politics and germany. a moment in spain did not go as planned. isis fair to say, today, it a mess. coming up, more compelling conversations. europeanegative rates,

banks have a good relationship with the ecb. >> the ecb has made a lot of progress in the supervision side. juliette: this is bloomberg. ♪

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