♪ viviana: coming up on "bloomberg best," the stories that shaped the week in business around the world. stocks reached record highs as the u.s. and china signal a trade deal. >> it seems to be suggesting both governments are on track for some kind of agreement. viviana: voters in hong kong deliver a message that is crystal clear. >> the people of hong kong talking about the biggest political issues. abigail: investors sift through data to get a handle on global trends. >> we are now in a boom period in terms of prices and real estate. >> all this means slower growth going into the fourth quarter of

the year. >> the economy is fairly weak but the data today shows things moving in the right direction. abigail: alibaba goes public on their home turf. >> it could help the company narrow the valuation gap to amazon. abigail: the u.k. election campaign heads into the home stretch. >> it is very easy to end up in a hung parliament territory. abigail: m&a madness with a of big deals. >> and lot, but they can deftly do it. >> the general feeling is they probably will go through but how long it will take. abigail: a new suite of leaders brings a fresh set of goals to the european commission. >> climate change is existential. it is a huge opportunity. >> every company should contribute. >> indeed, the banking union will be one or also the commission's priorities. abigail: it is all straight on "bloomberg best." ♪

abigail: hello and welcome. i'm abigail doolittle. this is "bloomberg best," your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let's start with a day by day look at the top headlines. after months of protests that pitted citizens against the government and police, hong kong stayed calm on sunday as voters turned out for district elections. >> voters pretty much across hong kong overwhelmingly siding with pro-democracy candidates in what many see as a fairly damning referendum. record turnout, what does that mean though? >> it means the electorate here

have really woken up to what is going on. more than 71% turnout on sunday. we have seen the pro democrats look like they are set for big gains this time around, given the highly politicized environment, given the protests. a guest we had on bloomberg earlier on said this is really the people of hong kong talking about the biggest clinical issue. a vote on the government, a vote on the five demands of the protesters, including an inquiry into the police behavior. labeling protesters as rioters. of course, the demand for universal suffrage. the people have spoken out. the question is what will happen next and what the government will do about it? >> china says it will take action against intellectual property theft to address a sticking point looming over the u.s. and what should be read into the timing of the ip rules. >> we do have a trade deal that

looks like it is getting closer to fruition. we have the vice premier of china saying he is cautiously optimistic last week. we had president donald trump saying on friday that we are very close. ip and forced technology transfers have been a key part of the u.s. complaint of chinese behavior. this could pave the way for something to decide between the two presidents. the other thing i think worth mentioning is china is increasingly developing a lot of its own technology. it has become beneficial for china to protect that on its own. >> a shortened trading week and we have the dow, s&p, and nasdaq hitting record highs. the s&p closing around 3100 level at 3133. the russell 2000, the clear performer of the day, up by 2.1%. >> you have the stars aligning between a pathway to a trade deal. there is light at the end of a

brexit tunnel. earnings being less bad and impeachment conviction risks substantially being reduced. a lot of people who have missed now feel empowered they can hop on board. >> 3, 2, 1. >> surging on its debut in hong kong. having risen strongly in the gray market. the company raising more than 11 billion u.s. dollars. the stock was heavily oversubscribed. tell us about the price action. >> decent showing for alibaba in hong kong. not as much as we saw in 2014 when it listed back in new york. shares opened at 187 hong kong dollars, above the ipo price and a slight premium to the new york listed. the stock jumped 8% with , turnover of more than 8 billion hong kong dollars.

far outpacing tencent which is down slightly on the day, making alibaba the most actively traded stock. analysts are bullish on the company. they are setting hold on alibaba's adr's. the share sale could help the company narrow its valuation gap to amazon. alibaba training at 22 times earnings compared to amazon's 46 times. >> the u.s. and china agreed to stay in touch to resolve remaining issues to get to phase one trade deal. this comes after a phone call earlier when the top negotiators from both sides discussed core concerns. >> another day of incremental news that seems to be suggesting both governments are in track for some kind of trade agreement. the language has been quite positive. a positive spin. from here, the expectation will be, how will the u.s. respond? of course, as we head towards the middle of december, will it be sufficient progress were both sides can agree to a trade agreement or we reach the

deadline and the tariff threat from mr. trump is promised and he increases tariffs. there's a lot coming. >> u.s. stocks climbing to record highs on renewed trade optimism. president trump telling reporters that u.s. was in the final throes of a trade deal with china after negotiators spoke by telephone. >> stocks moving higher on the day and it is easy to forget how big a move 2/10 of a percent is. on the surface, it is not that big but if you have several days like these put together, they become huge moves very fast. even on a quiet day, this is a very fast-moving market. >> the european parliament voted again on approving the new eu commission today. the president-elect won the backing of the clear majority of mep's, allowing her new team to start work on december 2.

the commission finally getting the green light. they will take office, including the european commission president in december, replacing jean-claude juncker. she has made climate her number one priority. she said she wants to make the european union carbon neutral, climate neutral by 2050. that is cutting down major carbon emissions. that is her number one focus. she also said the european union needs to be much more assertive on the global stage. there's also the idea of brexit. this would still be looming on the european commission because they would have to renegotiate the trade deal with the u.k. if it manages to leave the european union in january 2020. >> hong kong has found itself at the center of u.s.-china tensions after president trump signed into law a bill in support of the protesters. the move will complicate trade talks with beijing as the two sides get close to a phase one deal. the big question we are asking is, what form of retaliation

from china might take if it ends up being anything more than words? what signals are we getting on that front today? >> china has basically continued to warn the u.s., first warning not to pass the bill. then, president trump not to sign the bill. now they are saying they should not act on the bill. there has been threats without specifics at this point. obviously, it comes at an inopportune time for the trade talks, but both sides seem to want to move forward. >> germany is expected to continue ignoring calls for greater fiscal stimulus with lawmakers looking set to confirm the government's balanced budget for 2020. a potential shakeup in german politics could endanger the future of the ruling grand coalition. two pairs of candidates they saw. -- candidates face off. what exactly is happening with the spd? what is the politics of story? >> what we have is a face-off of

leadership of the spd, the junior coalition partner in merkel's government. we will find out the results of this face-off. the voting has been going on among party members for the last week or so. we will find out tomorrow evening who won. it is really important in terms of the future of the government because if the finance minister wins this, it is likely he will push to continue on in this coalition with merkel. the challenger to him for the party leadership has basically said he does not really believe in this grand coalition with merkel and that is hurting the party. it is much more likely the social democrats would consider pulling out of the coalition if the challenger were to win in the vote that will get announced tomorrow. >> it is the moment retailers have been preparing for all year long. black friday underway in the u.s. the national retail federation expects more than 165 million black friday shoppers this year,

each spending over $1000. >> we are not seeing people line up like they used to. 2007, 2008, these are people swarm walmart, grabbing tv's and fight over things. that is not what black friday looks like anymore. this has become an online holiday. a lot of these companies rollout promotions back in october. there has been a lot of online shopping. something like a quarter of bargains have been bought today. you don't have to wake up and stand in the cold anymore. it is definitely changing. >> who are people going out to the stores today? >> a lot of young shoppers. the millennial, gen z shoppers seeing this is a social event. that is why stores like american eagle, urban outfitters are benefiting from those young shoppers. also, electronics always benefit. people who want tv's and the big electronics, they are seeing a lot of foot traffic as well. >> our forecast was sales would

grow this year between 3.8% and 4.2% over one year ago. we know the consumer confidence levels have been very high. we have low unemployment rates, wages growing. macro conditions are very good. we know just having seen the october retail sales numbers, they are quite strong and consistent with this three-month average of positive momentum in the market. we feel very good about the way we are off to the season. abigail: still ahead as we review the week on "bloomberg best," an exclusive view of hong kong's financial future from the head of major bank in singapore. >> our medium-term outlook for hong kong and for the region continues to be positive. abigail: ireland's finance minister speaks exclusively on brexit and other eu issues. next, more of the week's top headlines. german business confidence rose slightly in november, but still plenty for europe's largest economy to worry about. >> there is concern about the lack of the trade agreement, but it is not everything. abigail: this is bloomberg.

♪

♪ abigail: this is "bloomberg best." let's continue our global tour of the week's top business stories. in the u.k. where political parties sharpen their pitch to voters in advance of the december 12 general election. >> the prime minister boris johnson unveiled a safety first program of policies in his party's election manifesto yesterday. the promise, to end the seemingly unending brexit boxset drama. >> this is really about mitigating the risks. what we've got today is a series of eye capturing initiatives

where it is meeting the eye. yes, there are tax cuts for some. there is pledges for more nurses and infrastructure. look more deeply and you will see some of these pledges balance out. the tax cut on national insurance is balances out by increasing tax. boris johnson makes it clear this is about getting brexit done, getting the deal through parliament and getting a trade deal by the end of next year. something that many trade observers suggest will be very difficult. >> the u.k. election and a pole out overnight shows a big win for boris johnson. 68 seats in the december 12 election. >> you see the labour party starting to squeeze the national polls more, closing the gap. it is very easy to see how we can end up in a hung parliament territory. >> 30 of the seats out of the 68 are very tight. >> yes. the issue for boris johnson has always been the threat of the

brexit party, which has now largely went away. nigel farage has removed himself from 300 plus seats. for jeremy corbyn, the threat is still that liberal democrats and the other parties like the green party. that threat is still very much there. still fighting as hard as she can against jeremy corbyn. >> bloomberg economics says today's eco-survey adds evidence that germany's economic slowdown has reached a bottom. surveys remain consistent with subdued gdp growth. how concerned are german businesses about the lack of a trade agreement between the u.s. and china, and how concerned are they about other things? >> i think they continue to be concerned about the lack of trade agreement, but it is not everything. the brexit situation is unresolved. there are domestic issues. the german government needs to do more in the areas of energy

policy, infrastructure spending. we still find it difficult to get infrastructure spending. private investment is not ideal. we need proper tax reform. there is a lot to be done. it is not all about trade. >> turkey is now testing a missile system. the move could escalate the dispute between turkey and the united states. how big of a line has been crossed in turkey? this is something the united states has warned them against. >> it has definitely gone past a pretty significant threshold. it is a russian missile defense system. turkey is still a nato member. the u.s. and nato allies have warned there will likely be additional sanctions on turkey if they continue to press forward with purchasing and now activating this system.

it looks like they have taken that step. >> hong kong leader carrie lam called for peaceful dialogue with protesters. pro-democracy had a landslide in local elections. >> there is no new concessions, no new strategy. it is basically going to be following the pre-existing strategies that was happening before this election, trying to engage in dialogue with residents of the city. there are calls for more rallies. there was a brief standoff yesterday. now we are probably going to see what protesters describe as a return to protest. some pro-democracy lawmakers have feared that given that no one listened to this vote in government, we may see an escalation of protests going forward. >> powell saying the glass is half-full. the fed chair says at this point, the glass is more than half full but the right policies, we can fill it further, building on the gains so far and spreading those benefits to all americans.

your takeaways? >> jay powell telling us what we already know, the fed is on hold for an indefinite period as long as the information from the economy remains broadly consistent with our outlook. same old, same old. what he emphasized as new is keeping the expansion going as benefits beyond trading floors. low rates spread the benefits of the expansion to the economy more broadly. getting more marginally attached to americans in the labor force, benefiting from jobs, including minorities, the handicapped, and the less educated. the one area he did emphasize where there might be some problems -- inflation. not that it is too high, not that it is too low. they are keeping an eye on that. he did suggest the fed wants to make sure inflation continues to rise and he thinks rate cuts are going to do that. here's an interesting statement. look at the conclusion of his speech.

he said, monetary policy is now well-positioned to support a strong labor market and returned inflation decisively to the 2% objective. jay powell with a little bit stronger view of how inflation is going to develop over the next year. >> this morning, we got a rush of economic data. the u.s. economy expanding 2.1% in the third quarter, better than initially reported. while demand for u.s. business equipment unexpectedly increased to the most this year. where do we stand? >> all this means is slower growth going into the fourth quarter. personal income spending report indicated decelerated trajectory of personal income growth. disappointing, absolutely. if growth in personal spending continues at the same pace, it would imply significant deceleration from 2.9% growth in the third quarter to something like 1.6% in the final quarter

of the year, which also implies gdp will not be that great in the final quarter of the year. >> german unemployment dropped unexpectedly amid a slump in manufacturing which seems to be stabilizing antitrade tensions -- stabilizing and trade tensions easing. >> generally speaking, good news. the economy remains fairly weak but the data shows things moving in the right direction. inflation is a big one for the european central bank which accelerated to 1%. if you are going to get inflationary pressure, that will come through wages, which is why you need tight labor markets. still a big discrepancy. german unemployment is just above 3%. spain is 14%. greece at almost 17%. there are still fractures across the euro area. we need more data. pmi's come out next week. the week after that, christine lagarde's first policy meeting as central bank president. that is one to watch. ♪

♪ abigail: you are watching "bloomberg best." alibaba's mega share sale this week was a much-needed shot in the arm for hong kong amid ongoing political unrest. investors have began weighing other financial hubs with singapore, the obvious choice. the head of the ocbc says he is not seeing significant inflows from hong kong just yet. the ceo spoke exclusively with juliette saly. >> actually, the amount of capital and wealth flow into singapore from hong kong is not noticeable yet. there are inquiries, there are

interests, but we don't see any significant, noticeable flow from hong kong into singapore at this stage. >> you are not seeing any major shift in client investment in terms of inquiries coming from hong kong? >> correct. i don't see any major inflows. there are interests, there are inquiries. >> what kind of contingency plans does the bank have in place should the situation in hong kong escalate? >> we do commercial banking business, we do some treasury business. in terms of the hong kong domestic business, we are pretty well contained in terms of liquidity and things like that so we are not that worried. in terms of future outlook, i think hong kong's domestic investment will take a few years for them to come back to the previous level. the most important thing is we rely quite a bit on the flow business. we are not talking about flow per se, but trade flow from china through hong kong into other parts of the world. i think that may come directly. in that sense, singapore may benefit as a result of the

restructuring of the flow. the supply chain shifting that may happen, but not focusing on the wealth flow. >> so you're not looking at changing your business strategy in hong kong? >> no. we still think hong kong is an event in that event does come and will go at certain point in time. i think after the event, all parties, all stakeholders, will probably engage each other more and rebuild hong kong. that will take a couple of years for them to rebuild hong kong. our medium-term outlook for hong kong and for that region continues to be positive. abigail: coming up on "bloomberg best," more of the week's top business news with a cascade of m&a leading the way. plus, more compelling conversations. a challenging timetable for working out a trade deal after brexit. ireland's finance ministers says europe will give them the best shot. >> the european commission in

the european union will be ambitious. we will work on negotiations as soon as possible. abigail: this is bloomberg. ♪

♪ welcome back. slew of economic data, housing stood out as a positive surprise. 20 u.s. cities rose from a year earlier. yell university professor robert shiller spoke with bloomberg about these numbers and the larger economy. >> we are in a boom. -- a boom period in real estate. it is not driving like it was before the last recession. that enthusiasm turned.

maybe, i prefer having a stable level of modest dues he has him we have now. whether we will have a recession is a big if. it depends, according to my new book, it depends on how the narratives change and how our ideas change. that is hard to predict. >> what is the most significant economic narrative out there that has you concerned? >> there are a lot. if you ask for the single most prominent, it would have to be the impeachment hearings. the instability received by the polarization and politics does diminish business. it has not affected us that much. it is like we are preoccupied with the impeachment hearings and we are postponing important decisions in business until a later date. it is quite possible we will make it through november 2020

without any recession. that would be good for donald trump. and an exclusive conversation. bloombergnister joins to discuss the future of europe after brexit. to hammer out a new trade agreement within a year. >> i think it is safe to say a demanding deadline to have such a complex work done by then. of course, the european commission will be ambitious. the work andto get negotiation complete as soon as possible. if the withdrawal argument is passed by the 31st of january, and that depends on who has the majority in the house of commons. the next phase will be an extension of the transition

period, the deadline is by the summer with the current anticipated deadline being the end of next year. i believe the european union will be ambitious to reach an agreement. >> the european parliament is supposed to confirm of the new members of the eu commission. what do you expect? how will things change if at all ? i think we are going to see significant changes under the new president. there are three and particular i think really important for the future of endura. the first is the new president is looking to put in place a conference to have a discussion over a period of time regarding the future role of europe, how the members engage with each other. the second area i think will be important and i expect to see

progress as soon as next week in our meeting, is accelerating progress toward banking unions. roadmap to aa scheme to an insurance scheme for the posits, and using data as a building block for the completion of banking unions. this is a bother ability at the -- with the euro. more progress will be made on that. there is a debate on the way in relation to industrial policy for the european union and how we should be championing the development of european companies. i think you will see a lively debate in relation to that. by say, the eu parliament voted to confirm the new leadership of the european commission. the president elect one of the backing of a clear majority.

she and several numbers of her team spoke with bloomberg. the changes existential. there is a huge opportunity. at the moment, we are the european front runner in fighting climate change at new technologies and green financing. patents of of the renewable energy worldwide. it is not only good for the planet, not only good for the people, it will also be good for the european economy. exporter ofhe technologies and we will be the front runner. >> when you look at the friction between germany and france, emmanuel macron said it was brain-dead, do you see a bigger role for the eu within a nato war do you believe it is time to consider a bigger european army? >> nato will always be collective without question.

nato is the strongest military alliance in the world. the european union has a different role. membersmany european that are also in the nato alliance. there are fields where we do not need to nato. we are building up the european defense union, knowing that it will become entry to nato. in cases where we need the european union with a huge toolbox. diplomacyvestment to to servicemen and servicewomen, so we are able to act when called upon. president, from the europe needs to be bigger on the global stage. what does that mean? >> first, to promote what we

have already. and the business environment, you find a bout of impressive tech, engineers, research, an impressive start up environment. and the willingness to balance all the possibilities. >> you are talking about innovation. we hear from u.s. companies the reason you are focused on taxation is because we have not seen a real innovation and europe. is that fair? >> that is not fair. to all fair is to say, the people who pay their taxes, not just some of them should contribute, but every company should contribute where they do excellent business. this is the bottom line. you do good business here. >> is that something you think by the end of 2020, there is no international agreement, it would be fair for the eu to go it alone? >> of course it would. we believe in a global agreement

at we are happy to see the progress made. that is a strong push. there is a positive on the first draft. that would be the better solution. if that cannot be met, when you look at the businesses who pay taxes, it would only be fair we pick it up if a global solution is not possible. >> one of the things that has been talked about is the move towards a picking union in europe. will you be taking that up? is that achievable within the next six month or a year? this regards to begging, is an ongoing and issued it. we have two out of three there was in beijing, we talk about single supervision and a single resolution. we will be concentrating to finalize work on a baking union -- banking union.

be one of the commission priorities. minister from germany with a proposal on that subject. is that something you can work with? >> this is a welcome opening. the insurance scheme has been moving quite slowly in discussions among eu member states. germany had a resolution. opening at weome hope it will facilitate discussions at agreement on the insurance scheme. ♪

♪ is "bloomberg best ." let's resume our roundup of

headlines in business and politics. shall be nh find tiffany. -- thed giant will pay biggest luxury good deal. it'll raise the profile and give the company more access. >> $60 million is quite a figure. can they afford it? >> they can. they have plenty of firepower. it is an all cash deal. wen the deal came out, when broke it, it was 120. they have it at 135. we are expecting 140 plus. it is a lot of money, but they can do it. >> a multibillion dollar deal that will reshape the retail business. schwab agreed to buy tv ameritrade.

it is valued at $26 billion. schwab is capitalizing on the industry shock accretive last month by cutting commissions on u.s. stock trading 20. thehis is the foray in industry space. the feeling is it probably will go through. the question is how long it will take. analysts speculate it could go into the third quarter of next year. the other hurdle is there is a sentiment that is anti-large businesses, whether in finance or tech, this straddles the line of both of them. it is a question about whether there will be appetite for a behemoth in the industry and whether this merger will go through. spine medicine code for $6.8 billion. it is the latest acquisition for the drugmaker. dog --sing cholesterol

drug addict to its arsenal. >> why does it make sense? this is a company that has been on an acquisition spree under a new ceo. this helps them expand into an area where they had a gap, it cholesterol drug, it complements other areas they have like heart disease. this continues the trend of making more acquisitions. another day, another deal. to the echo.over $4 billion in cash is the price tag. of the deal expected by the first quarter next year. what was the impetus behind this deal? is this a business decision? >> i think it is the business logic. international the

leader. stubhub is the premier brand in the united states. you put the two together and you any eventticket for in the world. 5%.ho worked out a london's transit authority refused to granted a new license. writer safety is a concern that unauthorized drivers can do be late the app to carry passengers. what is the pub ability uber is taken off the streets? >> it is pretty low anything will change in the near future. days to appeal the decision and it said it will. last time it happened, it was months before the appeal was heard in the course. could take it it to the supreme court and we are talking years before this gets fully resolved. all of that time, it is fine to accept new rides and operating

on the streets. the leadership of westpac is in the sides of australian regulators. us a flavor of what some of those breaches involved? movinge is a number of parts. the first, international money transfers. regulators want to know about them because they want to check the potential for money to be transferred to countries where it is not meant to be, and looking for money laundering, para financing. potentially the more explosive hadgation are that westpac a child exploitation risks. it identified customers where it leaves these risks. in one case, there were payments from australia to someone who

was found guilty of child exploitation. >> westpac will change this money laundering scandal. biggest violation of financial loss in australian history. have a list of possible contenders to replace the helm of the second-biggest bank in australia. no obvious candidates. a few names out there. spent the last few days talking to institutional investors to prop the advisors i head of what was a crunch for the bank on december 12. the theory was my voter backlash against the money laundering scandal could precipitate a vote against the banks pay report. that could have precipitated a motion to call for the entire board to step down.

the hope within westpac is the will alleviate that pressure at a save the rest of the board. morningg earnings this as i prepares for the holiday season. the retailer raised its full-year outlook and beat analyst projections. >> their last quarter was a little bit of a stumble. they talked about uncertainty over the back cap of the year. that got people spooked. they come out with the third quarter with a raise, just like their partners in minneapolis. things are looking good for them going into the holiday season. it is not just selling tv's, it is pushing into services, pushing into new areas like health care. shares fell in the premarket

as the company eat on earnings. >> analysts and brace for those fourth-quarter numbers to not be great given dynamics in the u.s. and the agricultural sector, given the difficult planting commissions. that 2020 outlook, people are expecting an uptick. that has to be from stimulus from the trump administration flowing down to the farmers. re is not optimistic, they are being conservative and calling or a decline in sales in that sector in 2020. fired at leastey four traders over a miss marking securities. the traders are suspected of concealing losses up to $140 million. is ant type of loss

ordinary days business. how is it spotted? how quickly was it dealt with? these are questions that would help understand how serious this is. isactivity across trading slowing as we approach thanksgiving, giving everyone time to think about their bonuses. according to new analysis, some of the hottest trading will see smaller bonuses with equity traders set to fare the worst. hadhought the first half faded and things were picking up again and the third quarter. >> you have to look at the bigger lines. have the train going, when the trade industry is in a the same expectations will float through to the bonus

pool. that is why you are in a situation where the groups within the trading units are going to see a decline. flat is the new up. you are expecting a similar bonus payout. that is probably the best we are going to get. ♪

♪ let's get a bond above the stores you need to know in today's addition of daybreak. available on mobile. you can customize your settings so you only get the news that you care about. are 30,000 functions on the bloomberg and we enjoy showing you our favorites. be they will become your favorites. here is another function.

where you can get context and insight into timely topics. it is a take from this week. chances are you are not a vegan. but you may have had an almond latte or tofu at some point. even though a smaller number of people identify as vegan, vegan products are flying off shelves. that is because more of us are substituting meat and dairy products with plant items. >> i am going to become a bead him -- vegan. >> i have been vegan practically my whole life. >> is it a fad? or the start of something bigger? this is your quick take on the vegan economy. in vegan society founded 1944, discusses diets and

lifestyles. >> they say i have to eat vegetables. >> it remains a small community for decades. the industry is now expected to grow to $140 billion in the next decade. there is something out there for anyone who want to replace any amount of animal product, from cheese to bloody veggie burgers. only 6% of americans describe themselves as vegans, this growth is coming from outside that community. just harmoes not animals, it is killing our planet. produces 14 .5% of the planet greenhouse gas emissions. cows are the main offender. toding farm annals leads deforestation which reduces our ability to absorb co2 in the atmosphere. research claims a vegan diet is probably the single biggest way to reduce your impact on planet.

concern for the planet is one motivation. over half of adults who eat plant proteins set the main reason was taste, beauty concerns over diet, animals, the environment, and health. vegan products are no longer the weird packets in the back of the shop. they are delivered to the mainstream by huge brands like mcdonald's and burger king. there is even vegan beer. brewers use a fish guts for filtration. the obsession with oat milk led to shortages, causing hysteria across the country. mainly brooklyn. investors are getting and on the action. 600%s of beyond meet sir after its ipo. $300sible foods raise million in the same month. what can hold this vegan economy back? nutritionists are weston be health credentials.

irking's vegan burger contains 35 grams of fat. that is almost half of your recommended daily allowance. genetically engineered ingredients need more research. despite the concerns, there are bullish signs. traditional meet and dairy companies have invested in plant-based products. movingppose it benefits, to a vegetarian and vegan diet can produce savings of up to $1 trillion a year on health care. humans are going to have to shift their diets to help stem the tide of climate change. with our population growing, the beacon economy will have to win over more of us to have a substantial impact. that was one of the quick takes you can find on the bloomberg. you can find them on bloomberg.com along with the latest business news and analysis 24 hours a day.

that will be all for "bloomberg best." thank you for watching. this is bloomberg. ♪

carol: welcome to "bloomberg businessweek." i'm carol massar. jason: and i'm jason kelly. we are here inside bloomberg's headquarters in new york. carol: it was a huge week for deals. charles schwab to buy td ameritrade. lvmh's tiffany takeover. and still looming out there, walgreens may get scooped up in the largest private equity deal, at least according to those in the know. and we break down kkr's possible $70 billion leveraged bu