go down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. >> good morning, welcome to "bloomberg daybreak: australia." i'm haidi stroud-watts in sydney. heri: here are your top stories is our. tech helps offset weakness in financials. investors now looking ahead to the fed, boe and boj decisions. china gets a win on trade is the wt a rules that they broke the

rules, but it's a hollow victory that's unlikely to change either side's position. new subscription bundles, hoping to take a bite out of amazon prime. as expected, keep the upcoming 5g iphone under wraps. check of theget a markets. we are seeing u.s. futures opening flat. this after we saw u.s. stocks closing higher. we have gains in technology shares helping offset the slide we saw in financial. this ahead of the fed policy decision coming up on wednesday. the s&p 500 rose for a third consecutive session, closing at the highest level in more than a week. it was led by communication services, real estate and consumer discretionary shares. the nasdaq is gaining more than a percent. we have the bloomberg dollar index falling to the lowest level in more than a week. we are expecting a dovish stance coming from the fed. we did get the data today showing modest recovery in the u.s.

industrial rebound faltering and august, but tomorrow we get those august retail sales numbers that will continue to show the ongoing recovery. oil islook at what doing. we have upside for oil in the newark session. we are now extending those gains above $38 a barrel. modest and strong economic data in the u.s., but strong economic data coming out of china, despite the fact that we have the international energy agency trimming their demand forecast for the rest of the year. up's see how we are setting for the asian session. here is sophie kamaruddin in hong kong. sophie: looking like a muted session wednesday. by gains of japan ahead of a parliamentary vote. the prime minister of japan is watching the mma news. the chief is an talks with

beverage operations in australia. also watching upgrades on jpmorgan over in wellington. of ae seeing stocks ahead fiscal update. let's put the board for a quick snapshot. survey the latest for september in which fund managers had their paranoia over a tech bubble. they are not seeing a rotation out of the u.s. into europe, u.k. any margins talks. when it comes to pulling up this terminal, we are seeing rising worries over u.s. election showing up. at theean won is rising one-month gauge. we are seeing auctions flashing warning signs. the currency has jumped to a 16 month high. better than a second economic data from china.

the anticipated bond coming in the face of trade and sanction risk. haidi: we will stick with trade in china. the wto has handed china a win donald-- ruling that trump's tariffs violated international rules. it seems us this -- that this ruling will not have the impact when it comes to the dynamics of the relationship between the two nations. china can put this down as a wind in theory. ofdoes not have a great deal impact. trade talks with trade -- with phase one and the rhetoric that it has at the moment. this has put a further dent in the u.s./chinese relationship. as far as any actual punishment the u.s. will face for these tariffs and for the ruling, that

is not really in the cards right now. let's get a little bit into the week. i know that our listeners like that. remember that the u.s. can appeal this ruling. it would appeal to the wto and is potentially a veto at this point. those we continue to see tensions over tiktok. president trump commenting about the oracle bid for tiktok and praising oracle ceo. let's listen to what he has to say. i have a highp: respect for larry ellison. he is somebody i know. he has been a terrific guy for a long time. i heard they are very close to a deal and we will be looking at the tiktok deal with larry ellison and oracle. of those fewone silicone valley giants that nurtures a relationship with president, openly supporting him.

what do we know about this relationship and the deal? emily: the two do have a relationship. you have had jared kushner voicing strong support for oracle's bid earlier today. at this point, there are still negotiations going on. what we are learning is that oracle would not fully own to talk, it would create a newly restructured global tiktok. but companies would also have a share in it. so there has been some questions about exactly how much security will come with this new potential restructuring. emily wilkins joining us from washington. more on the tiktok-oracle deal and risks later. japan, because we are getting breaking news coming from the local television station saying that japan is

appointing a foreign minister. they are currently the defense minister, so it looks like the message will be one of continuity. we have seen other names, the finance minister keeping his post according to local media. it seems there is reshuffling within the japanese cabinet. but if the nhk report comes to bear, the japanese leader, who today is expected to be appointed as prime minister, elected as prime minister, will name the reform minister. let's get over to karina mitchell with the first word headlines. karina: we start with tensions between the world's two biggest economies, they are exploring blocking all provinces in a move to penalize beijing over its china'st of -- 85% of cotton production comes from the region. the would expand on the orders with cotton and computer parts

in china. it could be to higher prices for cotton related goods in the u.s. hong kong's troubled economy has been given a boost with $3.1 billion in the virus relief stimulus. the money will be spent to help affected industries. hong kong will also extend dine in services at restaurants by two hours, to midnight. and reopen bars, pools and theme parks. thailand has moved closer to welcome back foreign tourists as it looks to revise its biggest industry following a five-month ban. visas have been approved for tourists planning to stay at a 90 and 200 days. if you go, you need to stick it out for a 14 day coin keen on arrival. thailand's economy has contracted by 8.5% this year. researchers monitoring pfizer's covid-19 vaccine trial have reported no safety issues after

12,000 people received their second of two doses. the trial is expanding to 44,000 subjects, teenagers and people with certain medical conditions, like hiv, will be allowed to participate. pfizer expects to get inclusive data on the vaccine at the end of october. global news, 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am karina mitchell. this is bloomberg. haidi: still ahead on "bloomberg daybreak: australia." a bad year for bridgewater. the worst performance in a decade and the ongoing geopolitical tensions. cio tells us why she is not as bearish on tech. we will get her outlook next. this is bloomberg. ♪

on tuesday, gains in technology had size for the s&p 500. despite today's move, our next given today's rules our next guest is not as bearish on tech as some of our peers. great to have you with us. tech coming after two weeks where we saw the immense pressure, given all of the froth and access that we are seeing in the tech sector, has all of that been taken away? how healthy was this recent correction? has allot sure if it been taken away, but i think the correction was healthy, and necessary to get the speculation out of the technology names. what i think is different, and why i am not as beer it -- rs insh as my pee

technology is, these companies have positive earnings momentum's an hour on the favorable side of a longer-term trends. a lot of people assume that the so-called work from home trade and these tech names will continue to be overvalued and collapse when things returned to normal. ishink that remote work going to become much more common . we will see a hybrid of office work and remote were coming out of this, as people have taken away some of the stigma of being a remote employee. shery: given this divergence in themarket, the gtv chart on bloomberg is showing the difference between what growth and value has been doing. we have seen this battle for a long time. growth has continued to outperform, but you see the charts and the bar of the far right below zero, indicating the value may be starting to do better. is this a place where you would

start looking at, at some point? or are you convinced that growth is the way to go? shana: i think there are pockets and value that certainly have opportunity to see a turnaround or a rotation back into favor. but sectors like energy and financial have secular headwinds that don't go away just because things improve and our economy, or because the pandemic starts to subside. energy has a headwind from this change in the dynamics of the energy markets from the united states becoming a net exporter of oil and energy types of importer.s from a net that has changed the dynamic around the world. the demand for oil and other types of natural gas a natural commodities has been lower. that is a secular headwind that does not go away.

financials are going to be under pressure because low interest rates are difficult for results of margin compression. you don't get a lot of margin expansion in the low interest rate environment. those are two very large sectors in value indices. some broader structural reasons why i believe we will continue to see growth outperform value. maybe the gap between the two starts to get smaller, but i do think growth is in a position and a low rate environment to continue to do better. the technical dynamics involved with how you do value with money has a lot to do with that. haidi: are we likely to see any conviction in the opening up versus the stay-at-home? or will that rotation be volatile in the absence of the convincingly effective vaccine? shana: i think it will continue to be volatile.

anytime we see news that is volatile about a vaccine or treatment, you will see a rally in reopening names as it has become a work from home reopening trend. whenever there is positive news on the vaccine or treatment front, you will certainly see reopening trade types of names rally. but because this is going to be a longer struggle for us to get to back -- for us to get back to some sense of normalcy, i'll until it he will be a part of the market for the next six to 12 months. always appreciate your time. spotlight asset group cio shana sissel. the world's largest had fun is having a very bad year. fund is having a very bad year.

he is concerned with the deteriorating u.s.-china relationship. >> there are five kinds of wars. warse in four of those and there could be a fit. there is a trade war, a technology war, a geopolitical war, there is a beginning of a and then there is the question of a military war. having watched these things over a period of time, and having close contact with the situation, we don't internationally have a rule-based system so that there is a testing of each other's powers. which is done in public. when leaders watch one leader win and another leader back off on that testing, that is a high-stakes, dangerous game.

issue, and it will be a big issue for the rest of our lives. wrote a wonderful book. itwe have talked about before. before we run out of time i would be remiss not to ask you about your firm, bridgewater. no secret to many people that has had a challenging and difficult year. are you confident the firm can put all of this stuff passed it? whether its external or internal, and most importantly to your clients improved returns in your flagship fund? ray: i don't have a problem with my clients because we have something like $140 billion of clients who have faith in us. we are the largest hedge fund for a particular region --

reason. there are a lot of people not knowledgeable about that. we had a bad year so far. our weather portfolio is up a couple of percent, but our alpha fund is down about 15%. we, over the last 20 years, have never had a significant downturn. nothing. all positive years. but we knew that there will come a day. we missed the pandemic and going down, that's the reality. i want to say there is a problem sometimes in the media. we had a problem with one correspondent with the wall street journal. particularsat the on the case that we went to in terms of misrepresenting what the situation is, that's an issue. that happens. we don't settle, we are transparent, these things come about.

i'm not worried about any of that. we are operating in the same way we have always operated. that's right. we have had, so far, a bad year. alio speaking. japan's parliament is set to vote in the prime minister. the details on what to expect are just ahead. this is bloomberg. ♪

>> he has been a big proponent of deregulation. if he is willing to test new ideas that could be a positive for japan's productivity. muchople underestimate how it is likely to push. especially on the structural reforms. >> i do think the business investment expenditure side will be the source of continued

demand over the next couple of years. it is close to being true value. i am very bullish for the rest of japanese yen. >> he is a broker in the political establishment. i think he can be sure, unless he finds a way to get himself a different angle on the format. >> any sense of a slightly less inflationary policy stance going forward is likely to reinforce upward progress on dollar-yen. i think we are headed towards 100 slowly. >> i expect the trajectory for dollar-yen is on the downside. that is the outside of politics. understand why warren buffett put $6 billion to work in this economy. some of our guests

weighing in on the future of japan and presumably the prime minister. japan will officially install suga as its new prime minister on wednesday, with the parliamentary vote expected to be a formality. from our more correspondent was at the parliament. what are we expecting today? >> japan is about to get a new prime minister. atis expected to win a vote a special session to make it official. the 71-year-old effectively secured a standing as the next leader, with all five major factions supporting him in the presidential election. today's session is scheduled to start at 9:00 a.m. local time, appointing a new prime minister early this afternoon. to a new cabinet is expected be announced at 3:30 p.m. local time, followed by a ceremony and the first cabinet meeting to be held in the evening.

it's an all day affair. we have talked about him appointing people to his cabinet. what could it look like? suga does want to focus on people who are aligned with his thinking and they can come from any faction. we are hearing some of the key changes, including the health minister to succeed suga. will now beminister in charge of administrative reform. the reform minister to take his spot will be the younger brother to serve as the new defense chief. he looks like other key ministers will stay on. the foreign minister and finance minister are among those who will keep their jobs to carry out policies, focusing on fighting the pandemic while shoring up the economy. haidi: there has been talks

about a snap election, whether that's the best thing to do and if the government can get a mandate. what art the issues of the olympics -- what are the issues of the olympics and the timing? kurumi: the general election must because by october, 2021 at the latest. some senior lawmakers hinted at one, including the deputy prime minister. he said an early dissolution of parliament should be considered if the tokyo olympic games are held in 2021. he has been repeatedly stressing that the timing of when to dissolve is extremely important. he became prime minister, he wanted it to dissolve quickly but was not able to because of the global financial crisis. has been insisting that preventing the spread of the virus should take priority. kurumi reporting from the ground on that election.

a quick check of the business flash headlines. apple's new subscription bundles and online services were the stars of its launch. apple one will combine services including apple music, tv plus and icloud at a cheaper bundle price. its new fitness plus workouts are set to compete with peloton. its annual fall product includes new watches and an upgraded ipad air. the company is expected to have its new 5g iphones later this year. the u.k. government is set to be considering attaching conditions for the takeover upon the country's most valuable tech company. officials are focused on maintaining 3000 employees in the u.k., and keeping the company's headquarters in cambridge. softbank made similar commitments. traders and economists are clamming for more forward guidance from the fed heading into wednesday's fomc meeting.

we will preview the decision with wells fargo's zack risen. this is bloomberg. ♪

give you my world ♪ ♪ how can i, when you won't take it from me ♪ ♪ you can go your own way ♪ ♪ go your own way your wireless. your rules. only with xfinity mobile.

>> breaking news when it comes company, nows saying it is seeking up to $1.56 billion in its secondary hong kong listing. we are seeing further details of this offering. 45 million shares in that secondary listing in hong kong. to start their hong kong trading on september 29. $268 per share. this is among the three u.s. listed chinese firms that have been given regulatory approval from the hong kong stock exchange to start their secondary listings, totaling $3

billion in combined fundraising. we had earlier heard they had filed with the hong kong stock exchange for a proposed secondary listings. ordinary shares along with the ordinary ipo. we are hearing some more details about that potentially to commence trading in hong kong and september 29. let's get you to karina mitchell with first word headlines. committee on foreign investment has begun its review of the oracle tiktok deal. u.s.ther than owning the unit outright. bytedance will maintain a majority. other u.s. investors including potentially walmart will also be offered stakes. u.s. violated the international rules when imposed tariffs on chinese goods in 2018. while the ruling bolsters beijing's claims, washington can

expectedly veto the decision by launching an appeal. the ruling relates to tariffs that were imposed on $234 billion of chinese exports. the uae and bahrain signed my and marc agreements towards normalizing ties with israel. the ceremony signaled a stark shift in middle east politics including an exchange of embassies, tourism, trade, health care, and security. they joined egypt and jordan as for countries in the middle east that now recognize israel. the city of louisville, kentucky, agreed to pay $12 million to the family of breonna taylor as part of the biggest police misconduct payout in history. she was fatally shot in march as police executed a late night no-knock warrant. the city agreed to some police reforms.

global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am karina mitchell. this is bloomberg. shery. shery: let's head back to hong kong for a check of how we are setting up for the asian session. here is a. -- sophie. sophie: looking clients for markets ahead of the fed decision. we have economic updates from south korea. the parliament is to hold a session on the economy. we are getting an update from new zealand today as well. nikkei futures slightly under pressure ahead of a parliamentary vote that is likely to see suga named prime minister. the yen trading study. we are seeing the 55 day moving average cap on further yen gains so far. check out oil. we have whi extending gains after an industry report pointed to a sharp drop in u.s. crude inventories in the past week.

turning to the bond space, pulling up the chart on the terminal, the pboc liquidity action on tuesday suggesting the selloff in bonds may take a breather as the central bank signals it will not tighten monetary policy rapidly so the flattening of the yield curve and china has taken a pause after narrowing to the smallest since may 2019, but chinese yields hold a wide premium to treasuries, switching up the chart to demonstrate that. in haven woes. 2018ost chinese debt since and the anticipated inclusion in chinese bonds will be a driver. we are waiting on that update next week, haidi. haidi: we are looking ahead to the fed. there is one key question traders are asking heading into wednesday's federal reserve decision. will policymakers be given new guidance when it comes to details? bloomberg economics answers yes.

firmext guest is saying a no. he joins us now on the line. great to have you with us. i think bloomberg economics, our in-house economists, the point they make is they should be quick and nimble when it comes to offering details for the new rebound framework. unless this unintentionally affects the revamp in the first place. is it important in the market gets more details? >> yes. in our view, more details are not likely this week and we do is going to disappoint the market and could push yields higher, and really, we think the big announcement at jackson hole kind of stole the show from this meeting and they are going to be discussing forward guidance at length but we think it's too early for them to offer concrete guidance. we think they probably will adjust the policy statement to

adjust their monetary policy goals but outside of that, we are not expecting any explicit and forward guidance this week. haidi: we are really expecting pretty much a rebound situation until 2023. where do you anticipate, in terms of the dots, that we will start seeing a lift off? zachary: the big thing we will be looking at is the summary of economic projections which will now include the year 2023, and with the release of the new framework, we think most policymakers are going to anticipate the policy rate will remain on hold through 2023. perhaps we could see a couple expecting a rate hike or two as we saw at the june projections, a couple policymakers had a rate hike through 2022. all of these are going to come back down in 2022, given the framework, largely going to remain beyond.

we are looking at where some of the economic growth and inflation estimates are from versusakers coming in longer run expectations as perhaps another gauge for how much longer most policymakers expect the policy rate to remain on hold. shery: we are seeing inflation expectations in the u.s. as seen by breakevens and the gtv chart on the bloomberg showing we are at the highest levels of the year. policy betargeting enough to keep pushing expectations higher for how long and what are the implications of this? expect that this new framework will push inflation expectations a bit higher. it remains to be seen if this shift is going to be enough on its own to push realized inflation much higher in the near term. we are skeptical just saying they want to achieve this goal and eclipse 2% for a period of

time is enough to do that. we are going to come down to economic fundamentals to induce inflation coming back. a somewhat slower pace. we think the new framework boosts breakevens and could be a boost to the backend of the yield curve going forward. it remains to be seen if the economic fundamentals will support material pickup and inflation. that's another one of the reasons why the fed will take its time in introducing any additional forward guidance as they are still understanding where the public health situation is going and how that will affect a pretty volatile economic backdrop. risk?t about political we are just around the corner from the november presidential election. zachary: that is certainly a huge event, and that week in particular is going to be extraordinary as it helps hold the u.s. election and fomc meeting for the first time since

1984, a treasury refunding announcement as well as nonfarm payroll. that will be a huge weekend you are seeing the vol markets price and volatility around that week. and even beyond. we think that's going to be huge. as far as the election results themselves, the clearest take away that we have is if there is a sweep, whether it be republican or democrat, that is likely to steepen out the back end of the curve as we think to increasedlate spending and increased fiscal spending for years to come as when you have control of both congress and the white house. that is when major deals are able to get done. that is one of the key things we will be looking at. what is your assessment as to a further stimulus package either before november or potentially what it looks like after november if there is a

change in the administration? think theight now, we odds of a fiscal stimulus are growing lower and has been for some time, if you think about what has been going on in congress. it does not seem like they have gotten any closer to a deal so in our base case forecast, we do not have a deal and as far as what happens in november, we think if you do see something like a democratic sweep which seems more likely than a republican sweep at this time, that could result in much more fiscal spending going forward but as far as the deal getting done prior to the election at this point, we are quite skeptical. shery: zachary griffiths, great having you want had we will have special coverage of the policy decision on thursday. just days after jp morgan announced plans to bring workers back to the office, the bank has sent traders back home amidst

coronavirus concerns. we will get you the latest. this is bloomberg. ♪ ♪

shery: jp morgan sent some of its manhattan workers home this week after an employee in equities trading tested positive for covid-19. it happened just days after the bank announced plans to bring more staff back to the office. joining us now for the latest is

bloomberg finance reporter michelle davies. had been weighing on working from the office against working at home. what has he been saying? ceo of jpimon, morgan, has been urging his employees to get back to work over the past couple weeks he himself has been working from the office since june and he sat at a virtual summit -- said at a virtual summit in singapore that he sees economic and social damage if people work from home for too long and that is part of why the bank has been pushing people to get back to the office. we have also heard from j.p. morgan that they had concerns about productivity slipping among employees that were working from home. he said he worried younger employees get alienated when working from home because they don't have as many opportunities to learn from other workers. that's part of why they have been encouraging people to get

back and requiring them to return by next week. today that it turns out they actually have had a confirmed covert case and have to help some of their traders to go home and quarantine because of the infection. haidi: i'm wondering how all of this is being received. internally right now, we heard about some anxiety among workers, who worry about the return to the office when there is still a virus raging, killing people. we saw numbers today in new york that the infection rate is increasing again. there have been some epidemiologists that have weighed in and said they worry about rushing too quickly and returning people to offices, but at the same time, last week, president donald trump praised jp morgan publicly for their

push to get people back to the office. trump incorrectly said they were requiring all workers to go back to work. we know it was just senior traders who were being asked to return. thisll, i think all of just shows the challenges that banks and companies in general face if they are trying to bring more staff back to the office after months of remote work. on the one hand, they want to try to get to a sense of normalcy sooner rather than later because the consensus is that there's not going to be a vaccine anytime soon, but at the same time, if more and more people are going back to the office, that means public transit is getting more crowded. it is coinciding with flu season and just less outdoor dining. it causes people to be nervous. there could be a second wave in new york that's going to cause this to go back to square one in terms of the lockdown. haidi: michelle davis.

president trump has made no secret of his desire to see a covid-19 vaccine soon, ideally before the november election. erik schatzker spoke to bill gates and asked whether he is worried the race for a vaccine is being hijacked by politics. be a tragedy and any suggestion that, you know, a politician, you know, helped create the vaccine or is faster because of a politician is a dangerous thing. we saw with a completely bungled plasma statement that when you start pressuring people to say optimistic things, they go completely off the rails, so the fda lost a lot of credibility. thank goodness the companies are saying that the fda it's open mindedness be asked for an emergency use lysis before there's advocacy data, they are not going to seek that shortcut.

>> do you still trust the fda? >> i think in the fda, there's a lot of professionals. historically, just like the cdc was viewed as the best in the world, the fda had that same reputation as a top-notch regulator but there's been some cracks with some of the things that they have said at the commissioner level. hopefully, the staff is not polled in that direction. youo it sounds to me like are harboring perhaps some reservations. what about the cdc? you made reference to the reputational damage that has been done to the cdc. can you take what the cdc says to the bank any longer? being cdc is largely retained out of the picture because you have people at the

white house who are not epidemiologists. saying what a great job they have done. a set of experts. the cdc actually did make some mistakes the way they thought about testing, the way they have not figured out to bring the commercial providers in. there's a number of countries like south korea who got that testing going very well and we are very clear that if the result takes more than 24 hours, you do not reimburse for that. it's got to be a timely result. >> one of the big risks in politicization is public confidence. polls show one third of americans will refuse to get vaccinated, and a majority of americans believe a vaccine is being rushed. has the damage already been done? >> i hope not. you know, these companies are , and theessional

benefits of the vaccine here are very dramatic. after all, not just on the health front, but the economic , wet, the education front need to bring this pandemic to a close, and thank goodness that we have this private sector expertise that we want to shape into a global public good that gets to everybody on the planet. i think some people will not be in the first wave to take the vaccine. they may take away the attitude. i think over time, we will be able to get to the majority of the population to get to a level where the transmission goes down very dramatically. americans and citizens of the world have been put in this awkward position where they may find themselves more trusting of what they hear from the private sector, from the companies developing his vaccines, as opposed to what they hear from this government or perhaps other

governments. >> given the accelerated timeline on which these vaccines are being developed, how confident are you that they will be not just effective but safe as well? well, he's vaccines are going through this phase three trial where you look at the efficacy of new look at all the medical records to see if there's any adverse events. companies have their reputations. many of these companies are doing this on a not-for-profit basis so there's not some big profit upside to many of the companies involved including the ones that will have the most scalable low-cost vaccines, the leading six companies here, so vaccines are complex. rare side effects, even for the vaccines that have

dramatic net benefit. we are all going to be looking know, aata, but you safe vaccine, i think, is very likely to come out of this r&d work. shery: microsoft cofounder bill gates speaking with erik schatzker. it debutsles down as much awaited subscription bundles. details of new apple watches and ipads as well. this is bloomberg. ♪

shery: apple has climbed on board the bundle bandwagon. the maker of the iphone announced tuesday it will offer package subscription deals for its music, tv, and icloud products. shares declined following the online event and ended slightly higher. joining us now is mark gurman, our tech reporter. start us off with a little bit of an explanation of these subscription bundles and how they will help the services sector. mark: these bundles are called apple1, and they let you subscribe to several of apple's priceline services for a that depending on the package is either six dollars or $.5 less then if you were to subscribe to

all of them individually. obviously, this is a twist on amazon prime but far more limited giving you are dealing with only five or six online services here. haidi: we also had some other updates across products including an updated ipod air. mark: that's right. the ipod air was totally revamped. it looks more like the ipad pro now. they raise the price $100 u.s. a $599 u.s. but it is still considerable deal compared to the ipad pro, so i think it's a fairly nice upgrade. haidi: when can we -- shery: very quickly -- sorry, haidi. haidi: i was just about to ask the same thing. [laughter] question? was the i'm sorry. i could not hear both of you. i think shery and i are little bit too vested and

interested in whether we have more details about the new iphone. are we still on track for release? will there be any production or supply-chain issues here? mark: yes, we are all very excited about that. models,iphones, four 5g those will be hitting in october, so announced in october, and they will start shipping at the end of next month and throughout november. so yes, looking forward myself to getting my hands on the new big one. [laughter] haidi: mark gurman with the latest on apple. overnight.l updates let's get you a quick check of the latest business flash headlines. believesa director investors are focusing too much on the past and not enough on the future in hydrogen fuel. shares have been on a roller coaster based on its prospects as a boating auto company. he says he regrets pushing

nikola to go public before the company was ready. salesese online car website is planning a secondary listing in hong kong that could raise as much as one billion u.s. dollars. is said to be targeting next year for the listing. the home is valued at $11 billion. home is hom -- auto valued at $11 billion. the deal would position the french corporation to overtake nestle as the world's biggest dairy company. kraft heinz will sell production facilities in three states. the sale does not include the philadelphia cream cheese, singles, velveeta, or cheese with brands. -- wiz brands. coming up, scott galloway shares his opinion on the tiktok-oracle deal. we will talk about the intricacies of greg kelly as well.

and john west. we have lots more to calm in the next hour of "daybreak asia." this is bloomberg. ♪ look here, it's your very own all-in-one

entertainment experience: xfinity x1. it's the easiest way to watch live tv and all your favorite streaming apps. plus, x1 also includes peacock premium at no extra cost. this baby is the total package. it streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. yup, the best really did get better. magnificent. xfinity x1 just got even better, with peacock premium included at no additional cost. no strings attached.

haidi: good morning. i'm haidi stroud-watts in sydney. . we are counting down to the market open. shery: i'm shery ahn in new york. welcome to "daybreak: asia." our top stories is our asian stocks look set for a muted start as investors await cues from the fed. the u.s. may go too far with the stimulus. the wto says the u.s. broke global trade rules with its tariffs on