angie: paul allen, thank you so much. we are waiting for the australian government officials to release its latest trade data. that is due in about 20 minute'' time. we will take a more detailed look at the rba's decision later in the show. we want your opinion so please tweet us your thoughts. we can check it out and share. take a look at some of the other stories we are watching. here is heidi. the u.k.'s ruling conservative party takes the next that towards finding a new prime minister today. all 330 tory members will be balloted to the five contenders hoping to succeed david cameron. each have outlined different ways to manage withdrawing from the eu. secretary may has received the

let's get to paul allen.op stories this hour, the yen has long wildly ahead of the monetary decision from the boj. before immediately giving up those gains, it was probably platforms. 80% of economists. alphabet surged in extended trading after it the earnings estimates. it was a dollars $.42 a share while revenue rose 17 15 alien dollars. hours also higher after projecting third-quarter revenues expected to beat estimates. shares surged 7%. down 32% from a year earlier to $446 million and expected profit to fall to $135 million. global news powered by 2600 and analyst. i'm paul allen. this is bloomberg. breaking news out of taiwan right now. in line with estimates, up about 0.69% for the quarter. doing a little bit better than the prior quarter, we saw a negative picture for growth. little bit better here. hopesay there have been clouded by brexit as well. obviously, a lot of data to digest. let's get a check on how market action has been looking so far. >> the waiting game continues. we are waiting to see w

an je: paul allen, thank -- angie: paul allen, thanks for that.tell us noble group is set to quit power and natural gas trading in europe by the end of the year. the embattled commodities trader said to be down with support staff leaving the company. they've had a turbulent 18 months. stock has fallen 45% this year fter a 65% drop in 2015. >> trying to decide whether to , the heir offer again risk for bayer is monsanto could choose another suitor. india is giving its state backed companies an injection. they'll get about 75% of the money now and the rest depending on performance. the clint's largest lender, state bank, will get the biggest portion followed by indian overseas bank. the injection is about 6% her than last year's. terrorism remains pakistan's biggest challenge. that according to a former prime minister. he told us that the country is still a good investment option, despite ongoing risks from extremism and instability in neighboring afghanistan. >> pakistan was a peaceful country. pakistan, afghanistan had no issues. people used to go

let's get now to first word news with paul allen. esident says donald trump suggestion that the u.s. would not defend nato allies unless they pay is a mistake. shimon perez says he does not want to be directly involved in americaitics, but says became a world superpower by making friends, not him and he's -- not enemies. >> this idea that america would ,isconnect relations with nato america would leave the field open to other countries. in my judgment, it is a mistake. it is a really great mistake. america became great by giving, not taking. dominic stevens as the new chief executive of asx. ceo,places the outgoing who resigned in march and corruption allegations related to his earlier role. negative rate squeezing japanese banks. profits fell 16% last quarter, still beating estimates. profit at japanese banks has come under pressure since the boj started charging a 10th of 1% to park in cash at the institution. mitsubishi will release results later today. global news 24 hours a day powered by over 2600 journalists and analysts in mor

more, let's get over to paul allen in sydney. how clear does that do the election results look? it is unlikely to change dramatically. votes will continue to be counted for a few more days, but the coalition has 76 seats. 77, whichet up to would give them a two seat majority in the new parliament. it is not much, but it is enough. they also have the support of independents if they need it. bill shorten called malcolm turnbull on sunday to concede to over.so it is however, we will have a weaker government and australia, so the concern remains that it will mean not a lot of action on the policy front and could mean the deficits just keep on getting wider. s&pe: what about this putting australia on negative credit watch last week? it made headlines, but it seems the markets are shrugging it off. paul: no, they didn't blink, did they? we see all strays bond yields continued to slide, so there is still the man there. if we look at the asx, positive territory as well, up more than 1.6%, although less to do with the end of political uncertainty dan the first opportunity to react to that

i'm joined by my colleague paul allen for a look at the markets. let's start in new zealand, all ready trading for 30 minutes and looking pretty good. may be reacting to an unscheduled assessment of economic conditions released by the reserve bank of new zealand this morning. quite explicit saying further policy easing will be required. they wanted near the middle of the 1% to 3% target range. the new zealand dollar behaved as you would expect, dropping, almost off .8%. already achieving one of his aims, saying a lower exchange rate is needed. nikkei futures looking positive at the moment. we expect them to be off to a good start in australia. we will keep an eye on the gold well, evolution and oil as with courtly production numbers out today. their bidpdate us on for oil. i'm paul allen in sydney, australia. emily: this is "bloomberg west" and i'm emily chang. -- terms of the deal were not disclosed, but according to sources, it is worth a billion dollars. model isave's consumer eating into the share of razor brand and is on track to close in on 20

paul allen. -- iam paul allen. ♪ >> this is "bloomberg west."cks off a night called series a. the interesting thing about china, the conversation on china -- ready to beat floyd into a market that his complex. don't get it.ors we will help you understand what is going on with the inner workings of china. -- joins us now. glad to see you both here. we were talking in the break and i want to continue the conversation. when i came into this world when i was working with public companies in the bay area, i was focused on publicly traded companies. there were a lot of publicly traded companies post-olympics era that were junk. some of them were architected to be that. dozens of these companies. most of which collapsed since then. at the same time, there were companies that have proven to be much bigger and more successful. you were saying that have i had invested in 1 -- >> anyone can start up. cory: instead i was shorting chinese security companies. which also did quite well. what we arebout seeing today, coming out of china, in terms of investable

paul allen has a look at the markets in australia. : a rather gloomy sydney harbor may set the tone. up and running for 30 minutes and up -- often about a fifth of a percent. a similar story in australia with a modest rise of just a single point. one of the stocks in focus today is woodside, due to report second-quarter sales any moment now. it's not expected to be great. it is due to weaker oil prices and brent averaging $47 as opposed to $63 for the same time last year. on the watchc after slumping the most in three years on tuesday. i'm paul allen in sydney, australia. emily: this is "bloomberg west" i'm emily chang. the republican national convention is underway and recent surveys show hillary clinton and donald trump again that. company hasurvey filled the gap as many turn away from traditional polls. john cohen andh asked about many people in the tech industry speaking out against donald trump. guest: the immigration thing -- the letter was about trump and needing to be more open to immigration. immigration is an issue that divid

paul allen, bloomberg, sydney. anna: we go live to paul allen in sydney.olls, i'm hesitant to read this question -- bookmakers or convinced the current administration will win. we have learned a few things about listening to bookmakers. give us your thoughts on the australian story. >> i understand your hesitation, but here are the reasons the bookmakers say that. there are 150 seats in the lower house in australia, and the coalition government holds 90 of those. the opposition labor party holds 55. you can see the scale of the challenge for the labour party. they need to win 21 seats to regain the treasury benches. many analysts think that is a bridge too far. they are likely to do very well as the polls indicate, but can they claim 21 seats? it seems unlikely. as you say, voters have been making fools of the bookies and pollsters on your side of the world. anna: we will see if they fare any better. what has the prime minister been saying in his final appeals to voters? we heard him ridiculing the opposition. he has been using the brexit conversation as a

in sydney, paul allen has a look at the markets. good morning. w zealand has been trading for 30 minutes. so far, looking pretty flat. off by .1%. in australia, a flat story expected. rio tinto shares will be in focus. they released production figures for the second quarter, in line with estimates. ore million tons of iron for the quarter. the reserve bank of australia will release minutes of the july meeting. we are looking for guidance on where we might be heading in august with potential deflation expected here next week. japan, nikkei futures looking positive. it is the first chance for a market to react to the softbank takeover of arm. i am paul allen for bloomberg in australia. ♪ ♪ we are nearing the one-year mark since chuck robbins stepped in as ceo of cisco. the company has made 15 acquisitions and reorganized the management team. robbins promises he does not have his head stuck in the sand when it comes to new technology. we spoke with him in an interview in san jose and asked about his strategy for cisco on m and a. >> our strategy is,

paul allen has a look at what the government has been saying. e have to decode what central banks governors say, but not in this case. it seems likely for -- further policy easing will be required. graham wheeler wants to get the inflation rate between 1% and 3%. inflation in new zealand has been below 1% for some months, but the cash rate, 2.25 percent, the next opportunity to do something about that is on august 11, and majority of economists think the cash rate will be going down on that day. a rate cutviously would risk is stoking new zealand's red-hot housing market , but i think he has taken some steps to try and address this, but some have said he has not gone far enough. paul: not enough. we have had the ceo in new a higheraying that loan to value ratio would have been needed. graham wheeler telling investors they would need a 40% deposit. rishaad: that's just it, we have already seen him achieving one of his aims, graham wheeler, the new zealand dollar. a bit of slippage there. just by releasing this update this morning, he has achieved

for more let's get over to paul allen in sydney. surveyed economists are unanimous. no cut today. ke a look at august, different story. paul: that is right. the reason for that is inflation will be less of it. when the rba less cut -- monday -- when the rba is inflationhe rba targeting the central bank and the felt they had to act. that is the reason why many economists feel august will be the next waypoint. how -- you can tell how they are feeling that is probably going to go. the parliamentary situation is in a complete state of flux. we cannot see any meaningful economic reform. more it is likely to fall to the reserve bank of australia to provide any theomic stimulus, despite governor glenn stevens saying that there is limits to what monetary policy can achieve. angie: we also have the cliffhanger election. the counting resumes today. we areication of where going to be in a couple of days? who is going to hold power? paul: i am not sure anyone knows. it is exciting to find out. the accounting has resumed today. 1.1 million postal votes have arrived as the australian six into co

i'm paul allen for bloomberg tv in sydney, australia. emily: this is "bloomberg west."mily chang. time for our weekly roundtable where we explore themes in tech investing. we hear a lot about moon shots but what do we know about them? often veiled in secrecy and development three years -- think flying cars and solar planes and the hyperloop. what does it take to fund them and which ones will breakthrough in our lifetime mark joining us is a futurist and nana biologist, partner on the next human genome project that aims to build a human genome in the lab. kurzweil whothan made early investments in companies including switch and para scope. thank you for joining us on such an exciting subject. i want to start with a broad weston -- why invest in moon shots? guest: they can change the world and make the world better place. they can change people's behaviors and make people's lives better. intractableve the problems of humanity. why wouldn't you want that? something i was thinking about on the way here -- we had a rough week in this country in terms of race relations, getti

i am joined by my colleague, paul allen, with a look at the markets. good morning. od morning. we kick things off in new zealand, which has been up and running for 30 minutes. it's looking weak at the moment. we are expecting modest gains in overalia at the open while in japan, the nikkei very slightly weaker right now. watch out for on the nikkei today, soft rank reporting first order earnings. higher than at 90% the previous quarter, $2.4 billion, the sale of the stake losses.ba bouncing off the other stock to watch out of japan, more first-quarter profit falling by 32%, although that was less than expected, $446 million. hurt byult really japanese individuals and companies staying away from stock trading and fundraising. the big event for the day also out of japan was that bank of japan monetary policy meeting and statement. that is due to happen in four hours' time and we expect to see more easing out of the bank of japan. the pressure to deliver more stimulus, particularly after shinzo abe on thursday. i'm paul allen for bloomberg tv in sydney, australia. ♪ ♪ th

paul allen standing by with a look at the market. good morning, paul. paul: , gyorko, mark. trading has been under way in new zealand for about 30 minutes. e index off a fifth of one percent. keep an eye on santos shares. the producer is out with fourth quarter numbers. nick futures showing strength -- nikkei futures. chinese key safety systems is said to be bidding for them. 15 deaths have been released to takata. r bags made by take a look at the yen as well. the yen gained a lot of strength this morning when comments from the bank of japan governor kuroda were published, saying he didn't support of the idea of helicopter hone. those comments were recorded on june 17th, but broadcast on july 21st. the yen giving up some of the gains but not all. i am paul allen for bloomberg tv in sydney, australia. emily: this is "bloomberg west." i am emily chang. shares slumping thursday after release of a bold master plan from the company's c.e.o., elan musk. it is part two following a blog post in 2006 in which he laid out a daring plan to put tesla in the vanguard of an electric vehi

paul allen is following this. -- it ist deficit really one of the least in the developed world, especiallyn you take a look at japan or even the u.s. still, there is a risk here. paul: that is right. to gdp ratio is very healthy indeed when you compare it to other nations around the world, angie. the problem is that it keeps getting bigger. we get to that later. the situation for malcolm turnbull is improving. he picked up one more seat. that gives the ruling coalition 70 seats and the opposition labor party 67. those postal votes still being counted, all 1.1 million of them. we should have a clear picture toward the end of the week. malcolm turnbull has reiterated that he is confident of forming a majority government. at this stage, you would have to say minority looks more likely. he will have a couple of challenges there, not only piecing together support from smaller parties but quelling some unrest in his own party after what many feel was a poor campaign. angie: politics really threatening that aaa credit rating. paul: yeah, that is right. the rating agencies warned about it on monda

i'm joined by paul allen with a look at the markets. >> good morning. it is the final trading day of the week in 30 minutes in the new england index -- new zealand index looking pretty flat. this is after us stops slip -- stocks slipped. crude was low as well. now the nneka -- nikkei appears to be waiting the job the number. there is data out of japan waiting ton current trade. ministry of finance at the bank of japan meeting today in japan. they'll be discussing financial markets. that is a closed door meeting though. not expecting any news headlines out of that. here in australia, the asx futures are looking lower. as commodities slipped but the big four banks will be in focus today. that's commonwealth national australian bank become that's after the rating agency put them on negative watch. currently they are rated double a minus by s&p. that's following similar move for the australian government. the aaa credit rating here also put on negative watch. this is due to the ongoing uncertainty after the weekend's election a weak government is expected.

i'm paul allen in the, australia.: turning to podcast -- the 2014 runaway success of the serial podcast created not only hit for the medium and a sponsorship darling. one company gained sponsorship that is because the name was mispronounced. by and they81% currently sponsored 10 other podcast. we were talking and could not episode brought to you by mail chip -- that is what we associate you with. it wasn't the first podcast you sponsor, but now you are sponsoring all of them. i had to change my twitter i/o because of that. i think the whole thing behind the podcast is a testament to our creative culture, which is we always experiment. podcastseen sponsoring for years and this was a lucky break. we sponsored "this american life " and they were grateful for us investing in them early on. and when they did this one, they gave us first dibs. emily: how did it impact your business? us and ask came to how do we want a promotion to sound? we said you guys are experts. they went out on the street and had people read the scrip

let's go to paul allen in sydney.is surveyed by bloomberg unanimous, no cut today but it could be a different story for august. muche position is pretty reversed by the time august isls around and the reason the cpi. notwithstanding all the political turmoil going on, the reserve bank still expected to keep that cash rate unchanged but later this month, consumer prices. into it was very weak in consumer prices in the first quarter that caused the reserve bank to cut the cash rate back. -- take a look at those trade figures we had a minute ago. much worse than expected, a $2.2 billion deficit. the aussie dollar pulled back about 1%. that helped propel some hefty revenues. imports cost more. these deficits keep getting wider. economic reform is looking bleak. look county resumes today in australia's nailbiting election. any indication of who might be holding power soon? but,would love to say yes no. votes to beposted counted. they all have to be sorted into the correct electorate before the counting can get underway. th

for more, let's get to paul allen in sydney. everash rate drifting lower. of these unconventional measures the rba would consider? the top of the listed seems to be balance sheet expansion. that would be the purchase of government assets or long-term repurchase deals. the rba also saying it is studying looking into corporate bonds. not terriblyet is large, but if it went down that path, it would be looking for government support. for foreign assets, that could be viewed internationally as exchange-rate-targeting, although direct intervention would be something else that might be considered in an extreme scenario. those words are important to remember, because these models have been done under the circumstances of and extreme scenario. you have to head over to australia after a visit to tokyo maybe to get some ideas. -- alsoe also produced potential measures the rba is not so keen on, right? mentioned japan. one of their ideas has been negative rates. the rba calls that "unattractive" because of the risks. another is what they call pure helicopter money. it

my colleague paul allen has a look at the markets. paul: off to a good start in new zealand.ollowing record highs on the s&p. futures indicate good gains in australia, of about 0.5%, expecting business confidence figures out later for june, although the timing of the survey means it will not reflect the recent reelection of the australian government. in japan, the nikkei fixtures -- futures look mixed right now. the most since october 2014, with the bank of japan promising more stimulus. the real big difference a shinzo abe's win in the upper house elections, meaning more stimulus coming from the government as well, promising to prop up domestic demand and speed up the building of high-speed trains. finally, a big decision out of the head today -- hague today on a case withina sea, china and the philippines on when an island is really an island. there's trillions of dollars of oil and gas there, and we make it a little clarity. from bloomberg tv in sydney australia, paul allen. ♪ emily: this is "bloomberg west." japanese messaging app line raised 1.3 billion dollars after pri

for more let's get over to paul allen in sydney. e heard from finance ministers over the weekend. australia's treasurer seems reasonably relaxed about the aussie dollar. why? paul: australian treasurer's typically are. getmount of prodding karen him -- can get him to say much about the aussie dollar. saying theekend, amp aussie dollar could climb back to $.80. a bloomberg survey of 76 economist see it at $.71 by year in. scott morrison was responding to that and saying volatility is to be expected and all part of being in a transition economy. >> obviously the range it has been in has been advantageous for us. strengthens our position in the global markets, and the tickly for exports. we tend not to get ahead of ourselves with these sort of things. we see how they play out. we would be hopeful to maintain a position roughly where we are. a keyscott morrison says challenge for the g-20 remains growth. yvonne: two years ago, australia was caring the g-20. -- chairing the g-20. that leave them right now? what happened to that? paul: i r

let's get over to paul allen in sydney. what will we see? say. it is very hard to it could be a minimum of 13 days before we know any result. it could be longer if there are recounts. we are in a state of flux. with 67 seatsling and the labour party 71. a lot of things have to fall his way. the reason for his confidence, pulling votes often go to the liberal party. leaders of both parties have been speaking to the independents. -- thosess bridges cross benches have yet to declare one side or the other. we are in a complete state of flux. voters have opted for a total policy paralysis. this is the worst possible outcome for them. it could mean widening deficits first rally a and a risk -- for australia and the risk for the trading -- for the credit rating as well. yvonne: if that does not happen, is the job on the line? deliver -- inot the 48 hours, there has been a lot of discussion that malcolm turnbull could face an internal revolt. there are some examples in recent history that he may not. the former prime minister very nearly lost his seat af

let's get over to paul allen. aheadicant legal hurdles of all of this. too early in the game to be talking about trade deals? i guess it is not too early to start talking about them. deal but the-china better part of a decade to put together. as it stands, it is not legal for britain to sign any trade agreement. only the foundation mark can be done now. -- foundation work can be done now. the australian prime minister called very constructive. the government intends to make a success of brexit and striking share deals with partners across the globe. yvonne: 12 other trade deals possible. when it comes to australia and britain, this is not the first time they have been talking about trade deals. days, beforee old the common markets, printed everything -- britain took everything that australia and new zealand could please. -- could produce. apple exports dropped by more than two thirds. abandonment and betrayal were getting kicked around a lot. yvonne: what can they do to get things rolling? next possibility for a meeting is going to be in a couple of mont

paul allen is there. how do these numbers stack up?asurth millionr rio, 55.6 output, less than what the market was expecting. currently undertaking maintenance on its railways in western australia, saying it is the cause for the decline. ore-year output for iron 257 million tons, that also missingas men's -- estimates. on the upside, you could say the iron ore price was up this year, so not so bad, but the stock taking a beating today, one of the worst performers on the a a sex so far --asx 200 so far. rishaad: it was a better picture for the company, wasn't it? paul: everything was a beat, including petroleum. is likely to decline next fiscal year. barrels to 210 million barrels. broadly on costs, the ceo andrew mckenzie saying they can create significant value through further cost reductions, but other commodities bhp produces did do quite well, copper at beat, metallurgy and coal also at beat. it will take a 170 $5 million impairment on that cold business -- $175 million impairment on that coal business. the government has arrested

paul allen is falling all of this in sydney. what is the state of play? : malcolm turnbull had some , the seatlast night of gray had fallen to the coalition, taking them to 70 seats, the magic number being 76 to form a majority government. have improved. the prime minister was also in television offering a mea culpa for a disappointing campaign. a lot of his colleagues are unhappy, but he did get support from john howard coble who said nobody should be "lifting their throats at the results." -- slitting their throats of the results." australia's aaa credit rating could be at risk. australia's if deficits get wider, and that is guerin teed to happen with a minority government because we will be in a situation of policy paralysis. there won't be policy reform, deficit grows bigger, and that's when aaa is at risk. angie: thank you for that. plan top, samsung's spend its way back to success. we will ask if it can revive the brand smartphone business. anxietyre on the slide, over global growth intensifying, so is the brexit effect far from over? we will be disc

paul allen joins us on this weekend's election. want to bring in guy johnson the bank of england's new policy response. the significance? guy: he is essentially signaling a recession and this is giving the tools by the chancellor and he is now putting that into reverse. saying tougher times are ahead for the k economy. it is very clear that it --l be a command story credit demand store that the u.k. will have to do with. jonathan: you talk about demand and they cannot really do anything about demand but they have to meet with supply. he talked about monetary policy about being targeted and the unintended consequences. it does not look like a governor really ready to pull the lever. guy: the monetary policy committee starts deliberations later on this week. he talks about unintended consequences and its code for we are a bit worried about negative rates and what they may end up doing. what he is saying there is that maybe actually the mpc may look at other things that he can do. he has the opportunity to cut 25 basis points as a ges

paul allen joins us live from the a sx. >> that's right.ght out of the book of business mythology. the shares will be priced at $1.80. it was four times oversubscribed. forecasting revenue of $241 million. they recently acquired the collapsed of the reeler. -- retailer. in the next two minutes, you will see this room behind me begin to fill up and hear the ringing of that ballot the top of the hour. has come aan kogan long way and has had to win over a lot of critics, hasn't he? paul: yes, he has. it is probably due to the nature of the business when it started in 2000 six, offering discounts on iphones when no one else could, sourced on the gray markets, many products were things like televisions brand with his own name that he sourced independently from china. it all looked a bit shady on the service, but he has overcome that image over the last 10 years. he says this afloat will release capital constraints, focus on growth, specially private labels where he made his name. those are where he will make his biggest margins. angie: presuming

let's get over to paul allen.n will we have an idea of what the next government will even look like? : nobody knows the answer to that question. it could be days, it could even be weeks. counting resumes on tuesday. still lots of ballots to come in yet. the ruling coalition sitting there on 67 seats, the opposition labor party on 71. the magic number is 75. looks like no one is going to get there. whatever we have in australia, it is likely to be minority government. beller parties, you have to -- they are the ones who will give us an answer whenever that might be. none of those independents are saying whether they would back the government or the opposition. it is a recipe for policy paralysis. angie: how are the credit agencies reacting to this political uncertainty? had the first response from the agencies today. the s&p may lower the rate. moody's has called this short-lived political uncertainty. fitch is saying the credit profile is still consistent with triple-a. this apical deadlock leads to sustained wide

let's get to paul allen in sydney. bhp's share of this reparations deal, isn't it? s the size of it or bhp, the half owned by , sor half owned by vale this is half share of the current estimate of obligations. this is according to a framework deal agreed on march 2. 19 people were killed, extensive damage downstream from that dam burst, and a lot of pollution as well. thatw mackenzie saying this demonstrates our support to the long-term recovery of communities and environment affected by the tragedy. bhp shares are rising, up two thirds of 1%. it is fair to say that everybody knew this was coming. aat we did not see coming was rise in the iron ore price overnight, so that probably explains the share movement. you will see this noted in bhp's earnings. to get thebeen plans company up and running and 2016, but it has been beset by delays. it is more likely they will resume business in 2017. rishaad: thank you very much indeed. getting to philadelphia now. we have had joe biden speaking, paying tribute to his late son beau biden. is oneying barack obama of the greatest

for more, i want to get over to paul allen in sydney.ts are still being counted, but the result, they look pretty clear now. >> it does. this strain of electoral commission will not declare a final tally until july 15. as we stand, the government has been returned with a slim majority. if we look at the ruling coalition, 76 seats leading. the opposition labor party on 69. it is possible the government may get to 77 seats. held a pressull conference to celebrate a victory. here is what he had to say. earlier today, bill shorten called me and congratulated me on the reelection as prime minister. i think bill for that call. as you mentioned, it took more than one week to get here. malcolm turnbull said he discussed the possibility of having electronic voting in the future. >> malcolm turnbull has gotten the victory, but in for a tough three years, right? >> he is. , so is not a big majority he has been talking to independence and cross benches, among them one mp who looks after a huge electorate about the size of texas in the far north of t

let's get over to paul allen in sydney. is this premature?ificant legal herders -- hurdles, right? those is that britain is not allowed to sign trade deals while they are out of the eu. malcolm turnbull and theresa may having a phone conversation on saturday. the australian prime minister described it as very constructive. theresa may said later that she is determined that britain will ,ake a success out of brexit and one of the key parts of that plan is to strike trade deals with partners across the globe. >> in some respects, a trade deal would be going back to the history books, right? remember when i was just a little boy when britain joined, meaning terrible times in this part of the world. exports plunged 90%, a similar story for other soft commodities as well. ands like abandonment betrayal got kicked around in this part of the world, so a free-trade deal would be something of a renaissance of that old arrangement. can they really do to get things moving then? paul: it takes a long time for get putade deals to together. the one between

for more, let's get to paul allen in sydney. paul, the economists were pretty much unanimous on no cut, but it's a different story for august, right? paul: that's right. it is 100% in favor of the rba staying today, but fast to august and those positions reversed. reason for this, aside from the political turmoil, it's all about the cpi in australia. it was back in may that we had our first deflationary fall in seven years, quarterly data due out on july 27. the rba meets again a week after that. they're going to do it then. he did have interesting piece of data, the trade balance blowing up. $2.2 billion deficit, up 2%. the aussie dollar was down. this is all part of a trend in australia of ever widening structural deficits, and it looks like we are set for a hung parliament, so don't expect policymakers to do anything about it. the onus will be firmly on the reserve bank to continue doing what they can to stimulate growth. yvonne: talk about that hung parliament, paul. the counting resumes today in australia, and this really co

let's get to paul allen in sydney.of these unconventional measures the central bank would consider? reporter: balance sheet expansion seems to be near the top of the list. that would be a purchase of government assets and long-term research and -- repurchase agreements. australiand market of is not that huge. the rba's have studied corporate bonds as well. as for foreign assets, there is the view that that would be perceived internationally as exchange rate-targeting. those are keywords, extreme scenario. lotbank uses those words a when talking about this study, and would not use them in circumstances anything other than extreme. yvonne: and while there were the rbaential measures said they would not be so keen on. what would baby avoiding? reporter: negative rates. the reserve bank is not so keen on that option. the other is helicopter money, as it has become known. they are saying it can't have a negative impact, particularly governments funding the policy rather indicative. definitely a hot topic. are things really

paul allen is there. getting costs under control, the underlying factor here. >> absolutely.is a big story. $14 30 one cents, better than analysts expected. next year, better still. they are thinking they can get groundon ore out of the between $12 and $13 a ton. share price up 5.5%. it is the best performer on the a sx this morning. 43 .4 million tons for the quarter, an improvement on the prior quarter. the coming year expected to be between 165 million tons and 175 million duns. net debt down at $5.2 billion. the main event will be consumer prices. they are out in 23 minutes. we have been waiting for this data since the first quarter consumer prices in may. that was the first deflationary print in seven years, the federal bank of australia prompted to cut. it is likely the reserve bank would cut again next tuesday, so we will keep an eye on the aussie dollar. thank you for that. let's take a look at some other stories we are watching today. history is being made in pennsylvania. hasi: hillary clinton become the first woman nominated for u.s. president by a major party. cli

update everyone on we have a huge presence in silicon valley and i started my career working for paul allen the cofounder of microsoft that is when the west coast started to take off for consumer internet and i spent my time shuttling between new york and california. i think we are uniquely positioned as a company and a management team to understand both coasts. we call it culture in code at aol in the real culture of new york mixed with the culture -- the code of silicon valley will .ake us successful uc los angeles popping up in the work in new york and london and paris. i was at this attack -- i was at vivitech. i think what you are doing is bringing the culture and code together and we are the best positioned company to do that. emily: that was the executive vice president and president of product innovation at verizon and the ceo of aol. investors cannot get enough of facebook, we will dig into the blow away quarter and hear from sheryl sandberg herself. we are focused on the explosion of interest in health tech with two longtime investors. this is bloomberg. ♪ ♪ emily: facebook out wi

let's get right over to paul allen in sydney.yment figures have come in line with estimates, which is always reassuring when it comes to all strays and implement figures, 5.8% for june, 7900 jobs created. encouragingly, 38,400 full-time jobs created, which is a reversal of what we saw last month, 30,600 part-time jobs lost, so possibly a lot of the part time jobs created in may way become full-time, one of explaining these statistics. the participation rate is 64.9%, so more people in or looking for work in june than may, so a solid set of numbers for the month of june. , a% unemployment as expected lot of full-time jobs created. angie: all right, adding close to 8000 jobs in june. thank you so much for that. let's see how the markets are responding. the aussie dollar had paired those gains, seven-week rally ahead of that report, but what is it doing now? juliette: a big spike from the aussie, up a third of 1%. it had been down 2/10 of 1%. a big jump in the aussie when those numbers were released, better expected -- than expected

this is bloomberg. 830 tuesday morning in sydney and i will hand it back to bloomberg's paul allen to the market. : trading about 1/5 of 1% following declines in the u.s.. futures indicating a modest three point gain on the local market. shareholders and other creditors will collectively take a $260 million hit on that. this media reports in japan that the government is going to double its fiscal stimulus package to ¥6 trillion. >> just a final word on south korea gdp. a slight rise expected to 2.9%. bloomberg tv and sydney australia. ♪ is investigating a massive hack attack on the democratic national committee. leaked e-mails shows committee members favored hillary clinton and undermined bernie sanders. the revelations have been distracting day one of the convention with attendees chanting and booting from the floor. the hack has been traced to -- joining me now my cohost for the hour, david kirkpatrick. here with me in san francisco, a former white house director of finance security policy legislation. where does the fbi begin here? what are they going to be looking into? they are g

paul allen has more.ping the cash rate on was prudent at this time information -- inflation remains weak. the next inflation numbers are due out on july 27. that is why we have a majority of economists believing the reserve bank of australia will move to cut rates again in august. on the subject of data, before the rba decision, the trade deficit widened again to $1.7 billion, worse than expected. with a hung parliament after last weekend's election, meaningful economic reform will not be expected by whoever takes government, so the job of keeping the economy stimulated looks to fall continually to the rba. just under one hour left in tuesday's trading session here in europe. take a look at how equities are faring. a second day of climbs for the stoxx 600. the ftse is up today. more declines in germany and france, 1.8%. take a look in the currency market. sterling continues to hit new record lows against the dollar. lowest since september 11, 1985. the euro, highest since october, 2013, against the dollar

let's get to paul allen. p's shareffectively bh of a reparations deal, right?ed by paulo is them. it will be between $1.1 billion and $1.3 billion. it is approximately equivalent to a half ship -- half share. this is a deal struck from the second of march. people were 19 killed, and there was a lot of devastation downstream, and a lot of pollution continuing to need to be cleaned up. this affects the environment, this tragedy. you will see this charge appear report, due ong august 16. if we check the stock today, it is up one and a third percent. fair to say the market saw this coming. the iron ore price was up, as well. samarco,me are go -- it was the second-biggest producer of iron pellets, they were hoping to be up and running in 2016. samarco is experiencing cash flow problems as a result. rishaad: thank you. having a look at what the plunge in sterling did. this occurred after the u.k. brexit vote. theas taken the fizz after $100 million deal. ramy inocencio is in new york. ramy: it has only been one week since they approved the acquisition of sab miller.

let's go to paul allen in sydney. what does the governor have to say?didn't leave markets in any doubt. he said likely further policy easing will be required. this is because of it -- low inflation, below 1%. 1-3%.rget band is between a ways to go to stoke that. the cash rate is at 2.25%, a bit of any mission to play with. the next review of the cash rate will be on august 11. it seems pretty likely that a cut is in store. angie: paul, a rate cut would risk making hotter the housing market in new zealand. i guess governor wheeler has addressed that? certainly, he did announce new rules on investors buying property in new zealand that they would now need a 40% deposit. there has been low inflation in new zealand and house price in nation. pere prices gaining $3000 week in june, running away. the ceo of a company in new zealand said 40% of investors may not be enough, 60% may be more in line to calm the market down. angie: i guess you don't call an unscheduled announcement announcing guidance on further cuts unless you want to weaken the kiwi, which is wh

in new york i'm joined by paul allen with a look at the markets. good morning. new: we will look at zealand first. 30 minutes into the trading day and currently off ever so slightly. shareholders will vote today on a merger with vodafone, the mobile phone company. "japan be looking at post," today. the ceos indicating more expansion in asia and says the company will be looking for mergers and acquisitions that complement their business that may be possible. after japanar holdings took over. in australia, a sx futures showing weakness. the big story is the vote counting from the weekend election continuing. the ruling coalition picked up one more seat. they are now on 70. the opposition labor party on 67. 76 is the magic number needed to form a majority government. the former treasurer is warning of risks to us trail you struggle a credit rating should a minority government need to be formed. that would mean fiscal reform would be pretty near impossible. i'm hall alan for bloomberg tv in sydney, australia. allen, for bloomberg tv in sydney, australia. cory: globa

i'm joined by paul allen with a look at the markets. good morning.ning.d new zealand has been up and running for 30 minutes of trading and looking reasonably good. picture on the nikkei is a bit more mixed as week away the line of messaging service to begin later today. we are expecting modest gains for the s&p. blue scope steel shares will be in focus today. the largest listed steelmaker in a string of you got a good hop yesterday when they announced earnings for the second half would be to the 5% higher. also an interesting story on the bloomberg about the reserve bank of australia conducting a study on potential unconventional policy measures should the economic situation to tear your a sharply. gdp.ig one today -- china ♪ emily: welcome back to "bloomberg west." i'm emily chang. follow thetinue to tragic events in france and bring you updates as we have them. i want to talk a little bit about nest. a month after the cofounder and ceo stepped down, it has released a new product is similar to the classic camera but coming in a weatherproof case mea

let's go to paul allen who is joining us from sydney. how come investors are not like any sort of results? , not a huge answer one, but a mixed number list, 55.6 million tons for the quarter that was missed. maintenance in western australia is partly because for this. coproduction down 7% and for your production is off 2% to 227 million tons also missing some revised numbers. not a fantastic picture for them and probably why we are seeing the share price coming under a bit of oprah -- pressure. yvonne: with the exception for iron ore, it was a better picture for bhp? >> petroleum did quite well. 240 million barrels. bhb signaling production will decline in the next fiscal year --ween 200 million between and 210 million. bhp does say it is going to take an impairment of one or $75 billion on the coal business. this ceo says bhp can continue to create significant value through further cost reduction. yvonne: joining us live from sydney. thank you. coming up, the next guest says he is not worried about brexit. in fact, he remains optimistic

henson and craig and paul allen who were all arrested for lewd behavior in a men's bathroom.hat we should do is ban republican representtives at a state level from -- representatives at at a state level from being in bathrooms. alison: caitlyn jenner dismiss speak and shou in the spotlight of the day, donald trump cleveland arrival and admission of guilt for melania's trump apparent plagiarism. we are joined live with what has happened so far and what is still to come. marci gonzalez? marci: hi, well, donald trump and the running mate are now together in cleveland where tonight mike pence will take the stage to formally accept his v.p. nomination. trump and pence holding a rally together for the first time since becoming the official g.o.p. nominees. >> let's hear it for the next president of the united states of america donald trump. marci: but the focus is still on the speech given by melania trump on the opening night. staff writer is apologizing for the similarity to michelle obama's speech. >> you work hard for >> your word is your bond. you do what you say. marci: she w

let's get to paul allen in sydney. ortenear bill concede, so how clear does the election result look now? paul: they have gone over the line, the coalition. turnbull's malcolm coalition. , ithe numbers do not change is likely they would change in the coalition's favor. then they get to 77. there are already 150 seats in parliament, so that gives them a majority. malcolm turnbull will have to work very hard to make these for his own party as well. there is concern that a weak government is going to mean week policy and wider deficits. that could weigh on the aaa credit rating. yvonne: you mentioned the aaa credit rating. s&p putting that on negative watch next week. it made headlines, but markets just need to shrug it off. in political circles, a great deal of fuss. markets did not seem to care. a lot of things at play. low inflation, low wage growth, the prospect of a credit rating downgrade really seemed to rattle investors in australia's bond market. we take a look at the asx today. we are up nearly 2% there. one expe

i am paul allen for bloomberg tv in sydney, australia. ♪ this is "bloomberg west." for serious a -- series a, our weekly roundtable on vc. this week, health tech. exploring the issues on the cutting edge of health care disruption. i sat down with two people who have been investing in this for years. and robertn middendorf. i started by asking them why health tech has suddenly grabbed the attention of traditional vc's. esther: the affordable basically says that you will get paid to keep people healthy. it's not totally happening yet. it's amazing how slow the medical system is to respond to incentives, just the way people are slow to take care of thieeir own health, but it's begin to happen, and health systems are beginning to realize how we can make money by preventing diabetes as well as by treating it. estherrobert: we have seen threr shifts. the market for digitized health information started with the high-tech act, with the government funding $30 billion to digitize health care information. then, the affordable care act changed how doctors and health systems are