anchor: a very good morning. welcome to "daybreak: australia ." i am i am haidi stroud-watts in sydney. sophie: and imf sophie kamaruddin in hong kong. kathleen: key earnings reports.

anchor: facebook with headwinds. internal documents highlight the company' struggled to handle hate speech and misinformation. >> and shares of pyramid, a global shift to electric vehicles. let's go to wall street, where we can see the s&p 500 today actually closing at a fresh record high, surpassing its previous high. just on thursday. of course, all of the focus on big tech. we had facebook after the bell, shares dropping after revenue came in, still very strong, short of forecasts. it was user usage that help the shares rally, moving higher in after-hours trading because of the discretionary. it was really what was one of the leaders on all of the major industry groups. why? because earlier today, we learned that kurtz global is purchasing 100,000 -- hertz

global is purchasing 1000 -- 100,000 ev's. you can see the 10 year yield around 1.63. if you want to see some inflation fears reflected, you have to go to gold. gold is slightly lower, but it topped $1800 an ounce, $1806. people are saying that if the fed goes too slowly, which is what some people fear, this is the place to be. on oil, now as you can see, a little bit lower, but the futures market, the west texas intermediate briefly topped $85 as this global energy crunch, with the european union, some sensing a deal might be revived, helping to continue the rally, which has pushed oil prices up more than doubled this year.

but moving on to what is going on with hertz and tesla, that is such an incredible story. the interim ceo of hertz, just four months out of bankruptcy, announces they are going to buy 100,000 teslas through the end of 2022. you can see how this affected share prices, and the idea is he would like to dominate the electric vehicle car market. now, for tesla, up about 12% today, hitting that $1 trillion mark in terms of market cap. it is a revenue gain of $4.2 million -- billion dollars for tesla. they will be available at hertz locations, not just in the u.s. but europe, as well, starting in early november, dustin case you want to go for a test drive, which many people will. haidi: kathleen, another top

story that you mentioned, facebook, revenue, beating on profit. we are taking a look at the future trajectory of growth when it comes to facebook. super interesting. a load of redacted documents. the whistleblower had provided, the sec getting a hold of it, and news organizations getting a hold of it, showing interesting trends when it shows usage falling to teenagers and young people, usage 16% doubt year on year for teenagers. they are spending less time on the service. there are fewer new sign-ups to facebook. and then duplicate versus unique new users. we heard on the earnings call that facebook is worried about competition from snap and tiktok, as well. kathleen: i guess our generation is using facebook more than kids and teens. a story that maybe everyone should be watching is the inflation story i just

mentioned. it is interesting how larry summers took to twitter, how about that, social media, to fire back against janet yellen saying he is wrong about inflation being a problem. he also went on to say that he is seeing them losing control of inflation. he thinks that her view is wrong . a 50/50 chance. he points out that inflation is already running at 4%, 5% year-over-year compared to the target. he also mentioned as far as he is concerned, the gap between what the treasury officials and reserve officials keep insisting is going to be transitory, how far away they are from the businesses where people are buying stuff in the store. this is the conversation we have with people all of the time, haidi. haidi: yes, and we heard from alan greenspan, saying he is

concerned that some of these factors, yes, may be transitory, he said, but when you take a look at underlying inflation, taking a look at the debt situation and the labor market, he is concerned that some of these factors weighing in good actually be more elongated, kathleen. kathleen: and if we think of a legendary fed chair like paul volcker, looking at inflation right now. moving on, investors are weighing the tech earnings while keeping inflation concerns in mind. let's bring in our "bloomberg technology" anchor, emily chang, and a reporter in detroit. emily, better than fears is what we are hearing. emily: talking after-hours, up on the day despite that big dump of internal facebook documents that do not paint the company in a positive light. as you mention, revenue missing,

profit beating, user growth better than expected. facebook a couple of times this year saying that the apple add tracking technology would impact the company negatively, so i believe investors were paired for that. some of the discount was already baked in, so we did not see the sort of bloodbath that we saw last week. however, we do believe that this apple add tracking technology will continue to impact facebook negatively, and bloomberg intelligence just did an interview on our show earlier where one thinks that the law of large numbers is actually going to catch up, and you're going to start to see an impact on that add tracking technology on facebook stock, but certainly, today, it seems facebook is defying the odds yet again. haidi: and yet, emily, the papers looking at who is using that services. emily: right. and a lot of times, when you're looking at this, you're seeing

trends that other analysts had called out or that we have all suspected for some time, but now, we are looking at numbers from facebook internal research. teenager use has dropped 16%. usage among young adults has dropped 5%. they are sharing less. if they are creating accounts, they are creating duplicate accounts, not creating accounts at 24 or 25 years old, when it used to be you started a facebook account at 19 or 20. that is a huge red flag, especially if the younger generation is supposed to be the next generation of users for facebook. the other alarming story that bloomberg really has zero in on is disinformation and facebook's failure really to get the vast majority of hate content off the platform. it suggests that facebook only takes off less than 5% of hateful content on the platform, so a small minority of that content, when facebook has for so many years said they had a zero tolerance for this kind of

content. on the earnings call, mark zuckerberg said he believes this is a coordinated effort with these documents to paint a false picture of the company. on the other hand, we are talking about research that is coming from facebook itself. kathleen: all right be let's move on to the other big story, a big win for tesla. >> yes, it is a real big win. that is how tesla became a trillion dollar company today. $4.2 billion in a buy from hertz, model 3's from tesla. mark fields, you might recognize that name. also hearing a lot about electric cars. he says he wants hertz to lead the revolution and the acceptance of electric rental

cars, and if you rent one on vacation, you may find you like an electric car and make that purchase. haidi: what is it for mainstream adoption of ev's? >> when you get that exposure, we are finding now that ev's, we have lagged europe and china, but in the last quarter, sales were up overall while the overall market was down. ev's up, and about 2% or 3% of the market, in a portly, there is a new survey by -- and importantly, there is a new survey by pew that shows people wanting to bind electric vehicle next time around. suddenly, ev's might not seem so mysterious, or their objections and their charging structure, going mainstream. haidi: getting them into these

fleets. our reporter and our "bloomberg technology" anchor. on the radar as we get the trading day. >> yes, using the terminal, panasonic as a model supplier in asia, and the japanese company on monday announced plans for a new shift to cheaper batteries. there is one that has ambitions to supply outside of their china factory. on monday, we did see earnings come through that missed estimates, giving the hit of the battery recall, and on the earnings calendar, pulling it up, third quarter results, solid profit growth expected. we are watching for any clues from management about the memory

down cycle on the supply chain disruption. this is down so far year to date. and then looking at the next chart on the terminal, how this may have impacted the gdp outlook for the third quarter. we are getting a sense and how it impacted growth. ahead of the release, one official did say it mattered but is still on track to meet expansion this year at their company. kathleen: let's go to vonnie quinn with the first word headlines. vonnie: recovery after a president trump demand for 10 western ambassadors to be expelled, saying there was a statement to undo what he called the slander caused. for turkey to release a businessman who had been jailed for four years. the u.s. is sending economic aid

to sedan after the military arrested a minister and other officials. a spokesperson for the state department said the 700 million dollar package had been intended to support sudan's democratic transition. sudan' as leaders say they are looking at the highest decision-making body and a new government. hong kong, a national security law to a sweeping crackdown on political dissent. one man faces up to seven years in prison after he was found guilty of incitement. he denies the charges. the two trials held so far have focused heavily on the use of slogans. some fear that freedom of speech is being eroded. the u.s. has issued new travel regulations involving the full vaccination against covid-19 along with a recent negative test.

those not traveling on tourist visas and those under 18 will be exempt. the new rules, effective november 8, lists the travel restrictions on people from china, india, and more. global news, 20 four hours on air and on bloomberg quicktake, powered by more than 2,700 journalists and analysts in more than 120 countries. i vonnie quinn. amthis is bloomberg. haidi: robust growth, companies warning of headwinds. we would take a look at the numbers. coming up next, we get more insight on the earnings so far, with a chief economist and head of strategy who will be with us. this is bloomberg. ♪

haidi: -- sophie: -- kathleen:

u.s. stocks at a record high, with inflation concerns and rising covid risks. we have shane oliver, a chief economist and head of strategy at a capital company, now joining us from sydney. so, shane, the earnings so far from the u.s. are, what, at most beating estimates? we got estimates from microsoft today. a little disappointing but moved higher. what does that tell you about the market and about the appetite around the world to keep buying stocks? shane: well, the earnings which is underpinning that demand, we obviously have higher inflation and the bond yield. if earnings make up for it, than it is not a big threat. that is what we are seeing here. the earnings reporting, last year, the u.s. share market has

increased, because u.s. companies have surprised on the upside. the same time around, the same thing is happening, beating on average by about 13 percentage points. even if you strip out the loan loss reserve. that is a pretty good outcome. and it obviously keeps the evaluation manageable, even now, as we are back up in bond yield. kathleen, certainly with the rise of bond yields, the idea that rates will move higher or that that is bad for stocks, but talking to people who actually own and run companies, they tend to be more concerned about how fast the economy is growing, whether or not their taxes are rising, and if they can keep making money, many say that is fine, so how do you expect this fear of rising rates to play out?

shane: historically, when rates have gone up, initially, it is a bit of a negative. initially, it is a bit of a negative, but once it starts occurring, i think the market adjusts to it, providing the economy is not collapsing, providing earnings are still rising, and monetary policy is not overly tight. historically, it does not go up as rapidly as it does at the start of a market, with monetary policy and valuation. that is what we have seen. the environment is now changing, and that is going to constrain the relationship. historically, higher initially. it only happens when rates reach onerous levels, and i think we are quite away from that in the u.s.. other countries have a long way to go. haidi: in asia though, you do

have central banks starting their timing cycle, as well as other saying they're starting to see a downturn in profits, as well. how much does that impact? how much does that play out between the u.s. and other markets? shane: well, of course, there was a problem a few months back. but i reckon if the global economy keeps going, that would be good for asia. with exports, of course, that should lead to more asia growth, and i think even as it starts to slow in asia, it might have another perk up next year. i am not particularly concerned about that. obviously, different parts of the world will be at different points in the cycle at different points in time. and a little while ago, like

europe, getting covid under control, but the u.s. with the problem, but now, it is reversing a bit. for a lot of it, covid is still at the center of a lot of noise across countries, across markets, obviously having a deep impact on the situation. until we get the pandemic behind us, that is going to cause ongoing volatility and, in many ways, opportunity. haidi: shane, always great to have you with us, the head of investment strategy at amp capital. crown resorts. found not suitable to hold the melbourne casino license. according to the commission of the casino operator, at the moment, we are hearing that the finding is that crown is not

suitable to hold that open casino license there. we will be awaiting for details when it comes to the other findings, but certainly, this is a huge development in the crown situation, being the global gambling empire. a reduced chain of domestic casinos -- whether the casino license will continue. looking at the suitability of their ability to hold the melbourne casino. we will get more details on that ahead. this is bloomberg. ♪

haidi: we are just getting more details when it comes to the world commission into crown

resorts, the finding that crown resorts is not suitable to hold their license for the casino. however, it does look like it has really come short of finding them unfit to run the melbourne casino but not stripping them of that casino. the report recommending that crown be supervised for two years while undertaking necessary reforms, that they should be permitted to continue operating under some of the tory oversight, so that really lays out some of the ways potentially that the company can address the shortcomings and be reinstated with the license in the future. of course, this is coming after weeks of public hearings early addressing unpaid taxes, allegations that they have failed woefully to address money laundering risks, and more with the gaming regulator, and the situation that comes with their city casino which has been shuttered for over a year. this is a situation. really circling as well as the

competitors, star entertainment, as well. we will have more as the details come to us. let's get to the latest when it comes to the banking sector. ubs looking at the global family office. internal wrangling about profit sharing between some. let's get the details from our finance reporter. what does this new arrangement mean for the bank? >> as you said, they are considering one of the biggest changes as a chief officer. he took over just a year ago. looking to work in an agile manner, he would like the bank to be better. this would further streamline operations. what they are mulling over is having a fixed profit share agreement between the wealth management and investment banking businesses, rather than having a system where varying

shares of profit are allocated between the two businesses based on different products and services. kathleen: so why are they considering these changes? what has been going on? >> it caters to the bank's most complex clients, and they are just unhappy that they share half of their profits with the investment bank. as you guys both know, wealth is by far the against money spender at the bank, generating about $4 billion in profit, compared to just $2.5 billion of the investment bank, so it would allow the division to recapture some of the profit that is currently being handed to the investment bank. kathleen: thank you had we will be speaking to the ups ceo at 5:00 p.m. sydney -- the ubs ceo.

plenty more coming on "daybreak: australia with facebook earnings coming up next. this is bloomberg. ♪

>> is an earnings story. >> stock multiples are actually down over the last year. >> rising interest rates is a sign of confidence in the economy, not a problem for stocks. >> every quarter-point hike has a magnified impact on financial conditions. >> considering pulling back and tightening monetary policy. >> we do not think there is pain trade in seeing rates go higher. >> the way you combat that is with record profit. >> our profits are going to

continue to be quite robust. >> companies are coming through pretty strong. >> you are seeing tremendous amount of money continue to come into the financial markets. haidi: some of our earlier guests on what has been a pretty strong earnings season so far. facebook shares are up after the social media giant said revenue missed expectations but user growth came in better than expected. let's discuss with alex. you have to look at this in the context of what we saw in facebook. they're worried about snap and tiktok. their own data shows new users and the younger demographic are not coming through the way they used to. is the writing on the wall when it comes to future growth? alex: facebook is in a tough spot. cheryl said in the earnings release today, zuckerberg said the same thing, they need to focus on younger users but they cannot use m&a like they use in

the past. now because of the antitrust scrutiny that has been ratcheted up on facebook not just in the u.s. but around the world, they are in a much tighter spot. they have to self innovate themselves out of this predicament and that is much harder for them to execute on at the size and scale they are today. haidi: so what does that so-called metaverse look like, if they are hampered from doing this kind of m&a? alex: yeah, i mean if they did not have the hamstrings on them, they get the acquisition for $400 million, they just got a 70 million dollar fine on them. but that small, seemingly inconsequential deal has been held up and has gone through the rigmarole. if facebook wanted to buy

roadblocks for example, which if i am zuckerberg, roblox is a no brainer, but he can't do it. he's had to reorg the entire company to allow for this innovation to be executed upon from internally. the reorg from zuckerberg's daily involvement. kathleen: in terms of the latest stories coming out of these papers that bloomberg among 16 other major news organizations were able to get these documents, pour through them and find what many people consider more damming evidence against facebook's ability and commitment to removing what many people say is hateful or dangerous material from their platform. is that damning for facebook? seems like a lot of investors may be don't care. alex: it is damming for the reasons you would not expect.

it is damming because the more sensor sit -- the more censorship that facebook does as costs and skiers users away -- adds costs and scares users away. facebook is so aggressive already on censorship. continuing to ratchet that up is a huge strategic blunder in my opinion for them. these papers, although seemingly from a whistleblower, i think there is a lot more to really understand why these were put out, what is the end result facebook really needs. i think it needs less censorship, not more. an i -- and it's giving other tech competitors users in droves . tens of millions of users are leaving. that is a huge problem. kathleen: so what is the answer to the problem? we have donald trump getting ready to start his social media empire and challenge these other social media apps.

alex: he is just one of many. there is a rumble of a youtube competitor. peter thiel an investor. there's a lot of motions and competitors at work. tiktok being at the other side of the spectrum. how does facebook combat a large, multibillion dollar competitor like tiktok? i think over the next few years, facebook, not to mention the apple privacy had went, i think -- headwinds, facebook is going to have a difficult challenge keeping up with the level of investor expectations. does not mean they cannot grow a great business and generate a lot of profit, but will it meet investor expectations, i think that will be an uphill battle. hence the $50 billion buyback. haidi: from an advertising perspective, who do they need to worry about the most? alex: what is interesting is

that facebook has enjoyed a monopoly amongst its social media advertising competitors. google has split it with facebook as a duopoly overall digital advertising. amazon is number three, but amazon has come into the space from a completely different e-commerce angle, which interestingly, saw paypal rumored at buying pinterest. there's a lot of advertising opportunity when you bring e-commerce into this and how do you close the loop by selling products. something that instagram has been making some progress on, albeit slower than they would have liked so far. haidi: alex, great to have you as always. let's get you the first word news with vonnie quinn. vonnie: the sec won a concession in his drive towards regulating the stable coin market.

the treasury department and other agencies will publish a report this week saying the sec has significant authority over tokens such as tether. the report will also urge congress to pass legislation to be regulated similarly to bank deposits. el salvador's digital bitcoin removed a pricing feature that allows users to make rapid profits on trade. the move is part of efforts to crack down on speculation involving the world's biggest cryptocurrency. last month the country became the first to officially adopt bitcoin, and it sparked a surge in daytrading. blue origin is planning to build a commercial space station before the end of the decade. the company says it will be designed to operate a mixed-use business parking space with the aim of providing services needed to normalize spaceflight. the jeff bezos-funded company says it will team up with sierra

space, which is backed by boeing and red wire space. 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'm vonnie quinn. this is bloomberg. haidi: of straley as crown resorts of been sound -- found not suitable but will be allowed to continue operating. it came after a months long investigation. it seems like they stopped short of stripping them of their license. what do they need to do? paul: they are going to be operating under supervision the next couple years, but the report was pretty damming, saying crown engaged in illegal conduct, dishonest, exploitative, and the wrongdoing was so widespread that no other finding was open tp the -- to them.

it does allow them to keep operating under supervision, but it fails to win a lessons to open their brand-new casino in sydney. you are seeing images of that impressive building now. the report found a net case it turned a blind eye to money laundering, similar to what is happening in melbourne as well. crown's other resort in perth also under investigation. so this saga is not over. kathleen: so what's next for crown? paul: it could have been a whole lot worse. the premier in victoria said he was ready to cancel crown's license if that is what was recommended. that would have left crown severely wounded. as it is they are still wounded, and there are a number of suitors circling. star entertainment, its only rival in sydney, has expressed interest, although they are facing similar allegations

itself. blackstone group has also shown interest in buying crown. it is an attractive property, having just one rival in sydney and a monopoly in melbourne and perth. but crown has really suffered a spectacular fall in grace over the past few years. it used to operate in court -- a network of casinos, and now it is just down to these three domestic casinos, one of which it cannot open and the other is under supervision. kathleen: paul allen giving us the latest on crown resorts. now, time for morning calls focusing on rbnz. more aggressive moves being priced in now? sophie: that's right. given the shot from the surge in inflation have tweaked their outlook to 2% by november 2022 with an endpoint in 2024 at 2.3%. upside pressure for the kiwi

dollar as well as rates. haidi: next, looking to push into the south korean market. this is bloomberg. ♪ is bloomberg. ♪

haidi: payoneer and coupang have

teamed up to more easily expand into south korea. sellers in their ecosystem will get faster access, greater flexibility, and managing payments. let's discuss and bring in the ceo of pioneer. tell us about this tie up and what benefits you are expecting it to bring in in terms of the lucrative next of the south -- lucrative nests -- >> south korea is one of the most exciting e-commerce markets globally and one of the top five markets in the world. coupang is a market leader and have a demonstrated obsession with serving their customers and we are really excited to partner with them to help them expand the scope of the products they are offering to their customers

in south korea. it is a great opportunity for us to expand the opportunities for our small customers around the world looking for more ways to access more customers in more markets. coupang has i believe 17 million customers that engage with them on a regular basis. well over $10 billion u.s. of annual sales. all growing very quickly as they continue to help the south korean market adopt e-commerce. and we are really excited to be able to be part of the story for them. haidi: buy now, pay later has been so embraced. is that something in terms of a service you would offer as part of this partnership? scott: it isn't. a way to think about how we play with a company like coupang, they are really working be seen the consumers in south korea who all want to actually shop and buy great merchandise with a

really broad selection at coupang and get it delivered really quickly. and what we work on is actually the connection between coupang and merchants from around the world that can now actually bring their merchandise into south korea and have an opportunity to access consumers in that market in a way that was not really possible before. kathleen: now that you have gotten this strong foothold, so you have that partnership underway. are you looking for other such partnerships across asia? scott: absolutely. the market in asia is really, really exciting. we are seeing more activity developing in asia then we are anywhere else in the world. we have already had some terrific success earlier this year. we talked about a partnership in indonesia and we also talked about earlier this year starting relationship with ebay to

support activity in a number of markets around the world. e-commerce has terrific momentum , we have terrific momentum. we have credentialed lysed ourselves as the go to partner for digital commerce everywhere in the world. we think it is still -- we just think asia is super exciting and we think we have a lot of value to add deplatforms in the region. kathleen: are you seeing supplies should -- supply chain disruptions showing up and higher sales in the mid and end of october then you would have in a year when people thought, oh, it is online shopping, i can put my order in at the last minute, which of course for a lot of us is the appeal. scott: we are certainly seeing the impact of supply chain disruption around the world. and i think you are hearing that more and more from businesses of

different types in different places around the world. a lot more consistency in that as a theme. we are hurry -- we are hearing a little more about people starting to push consumers to be more aware of those limitations and how inventory might run out. i would not say we have heard anything specific yet about a huge rush of consumers rushing to shop early. i think time will tell. but it is certainly something i think the groundwork is being laid to make more consumers aware of some of those limitations and challenges. haidi: overseas payments took a big hit as a result of covid and these travel restrictions. with the return of international travel and normalization after the pandemic, do you expect to see any impacts when it comes to the cross-border e-commerce transactions that have held up so strongly?

scott: i think what you will see is, and i think you will see if you look at companies like visa and mastercard that talk about the same kind of trends, travel actually and cross-border travel definitely took a hit. but as you mentioned, cross-border e-commerce has been so robust, and we continue to believe that that is a permanent trend and a permanent shift. we just think the world is really flattened and interconnected in ways that really facilitate the continued growth cross-border e-commerce. we think as travel comes back it will create more of a tailwind as it relates to that specific vertical, where we think there is a lot of pent up demand and that is what we are hearing from our partners in the travel space. but we are not seeing anything from a broad multiyear trend perspective that we think is going to take any excitement out

of the cross-border e-commerce space. kathleen: we wish you good luck with this partnership. thank you so much. be sure to tune into bloomberg radio to hear more and get in-depth analysis from the daybreak team, now broadcasting live from our studio in hong kong as you can see. listen via the app or bloombergradio.com. plenty more ahead. ♪

haidi: chinese ev startup has unveiled details of its new products and features at its tech day including assisted driving systems, faster charging, and a flying car. the vice chairman and president spoke exclusively with tom mackenzie about the company's ambition. >> our p7 is our flagship vehicle selling in china. it is one of the best-selling midsized sedan ev's in chinese markets. we're seeing a strong interest level in our presale program. now we're announcing official sales today. this marks another milestone as we have delivered our first and now this is the second flagship product for us to deliver in norway and we are very excited about it. tom: what are you doing to

convince buyers in europe that your products can compete with those european incumbents that are now fully transfixed on transitioning to electric vehicles? >> european automakers are very strong and they have a strategy for ev, but we see a similar dynamic. for us, we need to focus on producing the best design, leading technology, and with a differentiated driving experience we can provide a very attractive proposition to european customers as well. it will take time but we are very confident of our product strength. >> what is a new technology that will help you move forward? is that charging technology, batteries, something else? >> i think it is all of the above. the product cannot have shortcomings. the p7, it has one of the

leading driving ranges for similar products. it will have top-of-the-line smart technologies with voice, with attractive features, with content. and it has driving capabilities where weight are already a leader in china. that package with the beautiful design i think we'll have a very strong appeal to customers. tom: i know you have been investing heavily in batteries. talk to about the raw material prices which have spiked. are you able to absorb that cost? what is it doing to margins? are you looking to pass that on to your customers? >> the material price increases have led to a number of changes in the industry. first of all it forces you to look into cheaper designs of batteries. that is why they have become

more and more popular in china and globally because it is cheaper. also the scale of the industry increases i think is a saving you can expect. there's offsetting factors that play into the dynamic. for automakers ourselves we will focus not just on leading technology but the right balance of cost and capabilities. and so far we have been absorbing the price increases and i think we have a strategy to put that in the containment. haidi: xpeng vice chairman speaking exclusively to us. we are getting the victorian government's response to that crown report just tabled in parliament, excepting all recommendations coming from the report. the key finding, crown report found unsuitable to hold its melbourne gaming license, but

being allowed to continue operations for the next two years under strict government supervision while they undertake perform -- reform. this is after a month-long investigation. we heard the recommendation that a special manager appointment be made for two years. this of course is a less damaging verdict because the flagship casino is really the profit generator as well as being the target of interest by blackstone group and star entertainment. kathleen: let's take a quick check of the latest headlines. hurts, f -- hertz placed an order for a lot of teslas. tesla pushed past $1 trillion for the first time ever. it could be delivered over 14 months and building a charging infrastructure to complement tesla's superchargers.

paypal saying it is not pursuing a takeover in pinterest and speculation over a deal. last week bloomberg sources revealed the company discussed a potential acquisition. but paypal said it is not pursuing pinterest, at police not the moment. -- at least not at the moment. haidi: let's look at some stocks we are watching. crown of course one of them, given the findings of that report being accepted by the victorian government. sophie: keeping an eye on responses to some trading from oil search, which reported quarterly operating revenue more than doubled. and insight into the lockdown impact. mobility improves. going to be watching iron ore as well.

its operations were impacted by lockdowns in australia. kathleen: that is it for daybreak australia. daybreak asia is next. we're going to be waiting for the third quarter gdp report. keep it here. this is bloomberg. ♪ bloomberg. ♪ moving is a handful.

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haidi: hello and welcome to daybreak asia. sophie: we are counting down to asia's major market open. kathleen: and good evening from new york. here are our top stories. asia stocks may lag behind the u.s. despite the s&p 500 hitting a record high. traders are weighing inflation and covid-19 risks amid key earnings reports.