bhp could be listening. we could see more u.s. sales. >> that is right. been quite strident accusing them of destroying value in this shale venture in criticizing bhp for the do-nothing approach to the suggestion about how to unlock shareholder value. we have reports that the two sides may indeed meet where there is a bank of america conference going on now. bhp addressed that conference late tuesday and admitted mistakes were made with the 20 billion assets purchased before the oil price slumped. let's have a listen. the exactowledge position that took us into this business, we pay too high a price. early on a rapid pace of development was too quick. we have learned that lesson. >> bhp says they are actively considering more u.s. shell the vestments. elliott may partially get what it wants. >> elliott management has also pulled back on the original plan as well, has in it? that is right. originally it wanted to see bhp end the dual listing arrangement where it is listed here in australia and in london. the treasury stepped in and suggested prosecution be

bhp, take a look at how they are trading this morning.ion when it comes to sydney. the whole material sector is a bit behind today. so many could be meeting with elliott management to discuss aspects of elliott's plan to unlock shareholders value. a reporter has been on the story. they're very stubborn, not letting go. it should be yielding some sort of result. aporter: there seems to be middle ground between elliott management and bhp. they are at the same conference right now. there is a suggestion that the two sides may need. elliott has been scathing in the criticism of bhp saying its rebuttal of shareholder value notes was a do-nothing approach and one son independent review of the sale division. of destroyingp $31 billion worth of shareholder value in that u.s. shale adventure. part, andrew mackenzie gave a speech in barcelona. he admits mistakes were made with the u.s. shale assets purchased which happened just before the oil price slump. here's what andrew mackenzie had to say. andrew mackenzie: we knowledge were poorcquisitions b

the business flash headlines, bhp billiton is going back to plain old bhp.t to launch a $10 million advertising campaign, changing its logo. they want to change the way the community thinks about it. change has been in the works and has nothing to do with the accidental recent hold for reform. mitsubishiges to the u.s. financial, which will consolidate accounts into its commercial operation. that would see a record in the bank of tokyo. moveenders hoping to efficiency. the changes will affect about 2600 corporate customers abroad -- boring -- of borrowing. haidi: the investment arm of the sovereign wealth fund of abu dhabi is going to invest as much as $15 billion in the seoul-based vision fund. they say it is a significant return, and they will make their investment over the next five years. softbank will wrap up in the next two to three weeks. $95 billion of commitment so far. betty: china laid the framework for its new east-west trading route known as the belton road. the ministry described as the plan of the century. tom, take us through the details of t

warmroposal has had a loop response from bhp and rio.ce the $22 million debt pile which the government second take decades. betty: we have more to come with the market open in seoul, tokyo, and sydney. and the headlines coming out of north korea after pyongyang fired the ninth ballistic missile this year. we are going its japan's exclusive waters. this is ♪ s up the korea ramp tension, the u.s. sends another aircraft carrier to the region. >> oil and the yen rising. china's industrial profits rose more than $83 billion, signs global trade is strengthening. president trump divided opinion on his first foreign trip. that therkel hinting u.s. and europe are drifting apart. >> this is the second hour of "daybreak asia" live from bloomberg's asia headquarters. >> it is just after 8:00 p.m. here in new york on the long holiday weekend. but feel like we have a sluggish start to the trading week in asia, in no small part to what we saw on wall street friday, hardly any movement, right? there will be are to digest this coming week and a lot of pe

bhp in focus, elliott doing the rounds.is changing its tack -- what it is saying to the company is that it needs to focus on the petroleum division, it needs to look at what it will do. a way of releasing value. ist it is backing off on that they need to downgrade the australian listing, a more focused approach relating to bhp billiton. what about vodafone? watch, stock you want to with full-year earnings coming out that missed analyst estimates. a forecast that is in line with the analyst outlook, also saying it will increase free cash flow 23% to about 5 billion euros in the coming financial years, after splitting off its money-losing indian operation to a joint venture. analysts say it will help cover its dividends. keep your eye on those stocks. coming up, it's the market open. futures not moving. this is bloomberg. ♪ guy: the me take you to the screen. giving the fair value regulations. you get down to the granularity of whether london is up .2% and the cap down when 2%. that remains to be seen. a bunch of spot -- stoc

it is continuing to push bhp for what it calls chronic underperformance, calling bhp's approach to business bhp overestimated the cost of its unification plan and assist the petroleum strategy needs to be reviewed and that review should be disclosed fully . bhp has rolled out a glossy ad campaign yesterday, it is rebranding itself. coincidence is a and the rebrand has been in the work for a team months -- 18 months. it does -- elliott management does except bhp would retain its index listing. treasurer scott morrison said dropping the listing could possibly be illegal. they are prepared to keep that. betty: that story is so much shipinteresting that the under -- more interesting than the shareholder value unlock plan. up next, more than 60 countries involved in the promise to expand come -- expand trade and investments. this is bloomberg. ♪ ♪ >> this is daybreak asia. i'm in hong kong. betty: i'm in new york. panasonic is reportedly planning to reorganize european and north american sales operation. nikkei news is citing the head of the appliances division as saying computer electronics com

. >> meeting bhp shareholders are doing a major overhaul.hp and the% of investment team including the head of the office are laying out their planned changes to other shareholders including spinning off bhp's oil assets and combining in sydney and london in one base in australia. theef: let's get back to guests. he is the ceo for the middle east africa and turkey. story, unless the the government here has been able to stimulate investor influence in saudi classes. story, we put the this up on our charts for additional contact. in terms of the net floor and where the that is not authorities would like it to be even though they were hoping as of late fall last year when they started making some of these changes that was going to stimulate. what is going to be the next catalyst? what is holding investors that? >> i agree. out of sync with what we would expect for the largest economy in the world. i'm quite convinced it is going to happen. the liberalization of the market in terms of accessibility. i think they are getting there. it is why the m

bhp.bhp's oil assets to combine into one based in australia. an uber like service for trucks in china is near agreement to raise more than $150 million. we are told the investment will be led by baidu capital, and could be sealed this week. it would follow raisings of $115 million and december, pushing his valuation to about $1 billion. is backed by tencent and all-stars investment. yvonne: that's it for us on "daybreak asia." time for a look at what is coming up on " bloomberg markets." the rba is not likely to move, but they have been in a bit of a quandary because you've got these house prices that some are saying have entered bubble territory. any tightening could seriously have some ripple implications. also you north korea and tools there with president trump saying he would be willing to meet. yvonne: it would be an honor, he said. [laughter] betty: how would that even happen? what would that even look like? talk us through what guesses you got. rishaad: james rooney is going to be

the australian company bhp gained the name when it merged with a south african company in 2001.t of its efforts to emphasise its australian heritage. let's check in with the financial markets now and in asia investors have been mainly pretty upbeat. that figure was to do with results from department stores. investors have shrugged off the effect of the cyber attack and instead, the value of security stocks have surged. a male positive sentiment across platforms has been capped with some figures from china. let's take a look at europe. samira hussain takes a look ahead at what's we can expect on wall street later. on monday big hedge fund investors like carl icahn and david einhorn will reveal their first quarter purchases and sales of well—known stocks like snap, tesla and apple. we'll also get insight into market trends including whether billionaire investors took money off the table in us stocks especially financial stocks as the trump trade began to fade. the gap and home depot will be reporting earnings on tuesday and on wednesday, us retailer target will be reporting earnin

the proposal has had a lukewarm response from bhp and rio.t says it could take decades. betty: struggling italian flag carrier alitalia has been hit by industrial action with hundreds of flights canceled. unions demanded they nationalize the airline which went into administration after years of losses. they lent more than half $1 billion to cap -- keep flying while searching for a buyer. vietnam's dominant airline could be the first to list its shares abroad. the city have been approached by london, hong kong, and singapore. ony recently eased rules foreign investment in hanover. they could boost the ownership limit to 49% from 30%. >> we have been approached by some foreign stock exchanges including london, hong kong, and singapore which expressed their interest in our stock. we don't want to hide our hope to become the first vietnamese company to list shares overseas. vietnam's first quarter growth was at the slowest day since 2014, but the prime minister is confident the annual target will be met. aheadke to haslinda amin of a trip to meet

the australian government has warned that mining giant bhp biliton could face criminal charges if itt would be against the national interest. the activist investor elliott management wants bhp to be listed only on the london stock exchange instead of the current structure also involving sydney. elliott says the change would allow the company to give more money to shareholders. the sportswear firm adidas has reported bigger than expected profits for the first three months of this year. it made about $495 million thanks to strong growth in online sales and in north america where it's battling nike for market share. the demand for products were strong gci’oss the demand for products were strong across the world with the exception of russia. north america did particularly well for the firm. let's talk in more detail about hsbc. europe's biggest bank is listed in hong kong as well as in london. it has big operations in asia and europe, it reported a 90% fall in profits for the first three months of this year. but here is the rub. the chief executive stuart gulliver called the figure is a

bhp billiton is going back to plain old bhp.sing campaign changing its logo and dropping billiton. the company says it needs to change the way the community thinks about it. it says the change has been in the works for 18 months and has nothing to do with elliott management's recent calls for reform. changes to mitsubishi ufj financial, consolidating corporate accounts into its commercial operation. it dropld see references to the bank -- drop references to the bank of tokyo. the changes will come into effect for about 2600 corporate customers with barring of $106 billion. angie: we turn now to video gaming come a deal involving hong kong and a company described as the apple of pc gaming. the cofounder and ceo of razer is partnering with hong kong's three group of c.k. hutchinson, and it looks like we have that li ka-shing arm looking into the future and seeing youth as a driving force of growth. >> this is really part of our relationship or partnership with three to do cobranding, focusing on the youth market, the gaming market

bhp has offered no comment. the dollar edged back above $.70 overnight. as we wait on the april trade balance. that is expected to show a 260 $7decline to million. the nikkei futures pointing a little higher.elsewhere in asia , keep an eye on noble group in singapore. this is pending announcement today after snp warned of a possible default. that prompted a rather dramatic collapse in their share price. i'm paul allen in sydney. more from "bloomberg technology," next. ♪ emily: this is "bloomberg technology." i'm emily chang. former cia director john brennan testified before the house intelligence committee tuesday. for the first time, he publicly said he was concerned about possible ties between russia and the trump campaign, saying that russia "brazenly interfered" in u.s. elections, including actively contacting members of the campaign. he stopped shy of calling it "collusion." he also says he's concerned over reports that president trump shared classified information with the rushes -- russians on may 10 in the oval office. >> i don't know what was sha

. >>> elliott management called for an independent review of bhp's petroleum business. elliott, which owns 4.1% of the uk listed brand said in a letter there is deeply broad listed support for active steps taken by management to achieve a valuable outcome for the petroleum business. bhp cho and drew mackenzie said he rejected the claim that he has not been open to suggestions and will respond as appropriate. >>> warren buffett is betting on air travel. berkshire hathaway has been buying shares of southwest airlines according to the s.e.c. filing of its first quarter holdings. buffett's investment firm reported increasing holdings in american. shares of easyjet are sliding after the low-cost carrier posted a pretax loss of 212 million pounds. unfavorability currency movements and fierce competition within the european airline sector weighed on the numbers. but easyjet said it was on course to meet full-year targets as pricing pressures begin to ease. speaking to cnbc earlier, carolin mccall said she expects the operating environment to improve in the second half of 2017.

scarlet: bhp is considering whether to sell off more of its u.s. oil assets.atest intelligence drama from the white house may only serve as another distraction from the trump agenda. , bloombergek television is focusing on the state of tax reform. i want to turn playbook critic a vocalssue -- to critic on the issue. alan patricof joins us now to talk more. it was said that the way to understand the president is to take him seriously but not literally. based on what you've observed from the white house, do you take his comments that he is still considering changes to interest rate reduction and corporate taxes seriously or literally? alan: anyone who takes them seriously is not watching the news actively enough, not watching their bloomberg every day. it's hard to take them seriously about anything. you just don't know what's going to pop up the next moment. scarlet: what is the likelihood of carried interest reform? alan: i don't think that issue will depend on him. he said he's in favor of carried interest reform. this has been a political football -- some of

according to a person familiar with the matter, they are going over details to emerge bhp with otherhareholders. a spokesman declined to comment. the british chambers of commerce have issued their demands to the next government, itss priorities and manifesto, for a "frictionless future trade arrangement" with the eu. no new business taxes for the next new parliament, and delivery of investment and telling medications infrastructure. it wants protection for your nationals in the u.k. and an immigration system that doesn't cut companies off from labor. there is a says bump due to the presidents we use of the social network, but the company would love it if every world leader used tweets. twitter reported a jump in monthly active users last quarter, but admitted won't translate right away to increase revenue. >> as we said in the earnings call, we don't today have visibility on seeing the revenue trend improve. first, we need advertisers to recognize the significant increase to our ally. we are much more attractive than we were months ago. we need decisions on what was spent today. not

bhp will review and th slash the measure. manus: thank you very much.the german chancellor angela merkel and the manuel macron.- emmanuel anna: the two leaders will work together to strengthen the european union. for more, matt miller joins us from berlin. good morning to you. what came out of these meetings? angela merkel is receiving her fourth french president. matt: a lot came out of this meeting last night. they got together at noon yesterday and did not hold their press conference until around 7 p.m. they spent a lot of time together and then went to dinner after that. i think one of the most interesting aspects of this was macron's denial that he ever backed euro bonds. one of the biggest issues for the french election was europe, la pen wanting to break up the eu, getting out of using the single currency as well. macron went the other direction and was very pro-europe for deepening ties and strengthening the union. so, a lot of people maybe assume he was for the use of euro bonds. collectivist european debt. he denied that and said he was never

paul singer at it again to move bhp's main listing from australia to london. by the suggestion. unthinkable was the word that scott morrison used. php.hold a 4.1% stake in -- bhp. ino, ending the dual listing both australia and london. saying, why don't we close the australian listing? morrison says that will be contrary to the conditions of their merger agreement. he says that may lead to a criminal offense and the government would move to block that. there are not too many fans of this idea. moody's saying that it could be credit negative, highlighting their business as a significant asset. has majorroposal flaws. not very many fans. [speaking simultaneously] .> thank you very much let's take a look at how the broader markets are doing in the region. one market to watch is the cosby after coming back from the buddha birthday holiday. we are seeing a reaching a new kospi.for the mostly just doing a catch up rally. other larger markets like australia and new zealand are falling with the asx 200 down about 22 points, after no change , perhapsfed for march signa

bhp billiton about to launch a $10 million advertising campaign, changing its logo and dropping billitonh the community thinks about it. it says the change has been in the works for 18 months and has nothing to do with elliott management's recent calls for reform. asia-pacific companies are bracing to see if they will be next in the global wave of cyber attacks that have hit the u.s. come u.k., and russia since friday. users of older microsoft windows operating systems are the ones most at risk. is a revelation into which organizations and countries are running on older microsoft windows dating back 15 nots or so or if they have updated critical patches. most recently for example, bank of china's atm's have had issues , also sinopec's payment system, getting gas at the stations, a taxpayer. apparently runs on 90% of its computers using microsoft windows, and also fedex, nissan, so many companies clearly running on microsoft systems that need an update. looking ahead as we wait for other countries to come online, india is also one to watch. the times of india is reporting arerts say in in

elliott claims bhp has destroyed $30 billion in value from its foray into shale in the u.s.estors that the country will consider selling part of its energy portfolio. raisen australia could billions of dollars by asking rio tinto and bhp to pay a levy on iron ore. would be madement instead of increasing attacks, but it has been met with a lukewarm response. it is looking to reduce its debt pile, which the government says could take decades to pay off. carrierng italian flag alitalia has been hit by industrial action with flights canceled on sunday, walking out, demanding the government re-nationalize the airline after years of losses. alitalia is in a second bankruptcy in 10 years and has spent more than half $1 billion to keep flying while searching for a buyer. funding costs have soared after the pboc is considering the way it calculates the daily reference rate. it would partly filter out the impact of excessive volatility in the stock market. asian head of global market research at the bank of tokyo mitsubishi ufj is with us. say that the endgame is a free float, the int

mark: bhp considering whether to selloff more of those u.s. assets.olenmed to and unreleased this new movie. bob iger disclosing the threat and a town hall meeting with abc staff members. he said the company won't pay. disney is not commenting publicly. that is the bloomberg business flash. time for your bloomberg quick takes. they did today showing april housing starts came in lower-than-expected. -- data today. homeownership is a big part of the american self-image. because of that committee was government provides a lot of support. this includes federal income tax reductions for mortgage interest and property taxes. u.s. also employs programs to keep interest rates low by reducing the risks that mortgage lenders take on. -- in 2016,ituation u.s. homeownership raised to 63.5%. the tight credit market is preventing many renters from taking advantage of the recovery. before becoming u.s. treasury secretary, steve mnuchin said was a priority for donald trump to and control of -- end control of fannie mae and freddie mac. last week, president trump said

bhp under yet more pressure with a fresh set of activist demands. this time the world's best performing hedge fund added its ofce to call for the soul u.s. oil management. -- the cell of u.s. oil management. global news 24 hours a day powered by 2600 journalists and analysts in more than 120 countries. let's take a look at the markets. hong kong and china are closed for lunch. down over 1.4%. hour, time for the best of "best of bloomberg markets: middle east." ♪ yousef: welcome to "best of bloomberg markets: middle east." the major stories driving the headlines in the region this week. berling to standby air after reported soaring operating losses and its other italian partner going into bankruptcy again. saudi arabia is a play for foreign investors, bringing its markets more in line with international standards. s 2 reforms include a t plu settlement cycle ended first in the region to prevent shortselling. we spoke to the head of the middle east's biggest equity market. have ownership limits of the 49%. we would love to achieve that growth. yousef:

we are off the session low, but it broad-based selloff, the big names leading declines, bhp, watch.e,something to japan and south korea are close this friday. haidi: that's right. some weird non-price action with the aussie dollar given the collapse and commodities. , malcolmith australia is meeting with president trump. we are hearing from president trump speaking at the commemoration of the coral sea battle, saying australia and america are old friends, and security requires friends you can count on. he is saying that military spending is coming back, and referring to that infamous phone call with prime minister turnbull, saying the phone call did get testy, but we are ok and we did not have a rough phone call, so perhaps stepping back from some of the more discordant comments he made following that phone call. we are continuing to watch that is president trump is speaking, also on the issue of the asylum seeker issue, that that has been resolved as well. still ahead, the details on china's first ms degree produced jetliner. its maiden flight is later today. , currencyarket movers t

they own 4% of bhp.told the investment team are laying out playing changes to other shareholders.that includes selling off oil units in the u.s. and combining the sydney and london listed entities into one base in australia. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. rishaad: there's just a few , meetings with donald trump in the oval office. there was a wide-ranging 30 minute long interview.as you would expect, the discussion touched on breaking up america's biggest banks, looking at revisiting of last eagle, and -- glass-steagall, and the possibility of talks with the north korean reclusive president. let's find out what was mentioned and what the president had to say. remy inocencio has this. reporter: we are talking about thereporter: 21st century at the top of act mind with donald trump when he spoke to bloomberg news reporters. he said he was open to it and actively considering it. let's look at his own words. preside

when we do get the open in australia in a few minutes, keep an eye on bhp billiton. going to relinquish their south african oil exploration licenses. it fell 2% last session. that is the most since may. keep an eye on rio tinto. on renesas an eye electronics. something to keep an eye on. futures slightly down. that is because the yen is weakening. the yen was stronger in a previous session. we could see some poll, some dragged from a previous session. the kospi, another date upwards. the kospi has been up for the past four sessions. the rsi is in this territory. keep an eye on china, the hang seng index. we are expecting an update. for the rest of the day we will be focusing on oil, the opec meeting coming up. yvonne: asia-pacific markets send mixed messages despite wall street closing at a high. the s&p 500 rebounded from last week's selloff. betty: the fed is raising the question of hot or not? the rate debate to balance a boring job market with inflation that seems half-asleep. yvonne: oil producers meet later in vienna. there are expected to announce extended out

keep an eye on bhp this morning, the world's biggest miner.s the company would consider further sales of the u.s. shale assets, as suggested by elliott management. meet later today. nikkei futures pointing weaker as we wait on japan machine orders for march. weibo up strongly in the u.s. after first-quarter revenue beat estimates. $.10 will report after the close today. we are expecting to see 40% on quarter growth there. i'm paul allen in sydney. more from "bloomberg technology," next. ♪ emily: this is "bloomberg technology." i'm emily chang. let's get back to our lead, the fallout over claims that president trump discussed highly classified intelligence in a meeting with the russian foreign minister and ambassador last week. this, paired with news of a massive cyber attack that has swept the globe, has huge implications for the intelligence community. joining us from l.a., nick bilton, special correspondent for "vanity fair."is the author of a new book about the criminal mastermind behind the silk road. in writing this book, you got an up cl

. >>> bhp drops the billiton in rebranding it.o change its corporate structure. >>> and australia's fairfax media receiving a proposal from tpg consortium. tpg sending sales to six-month high. you 6%. >>> gold producer el dorado looking to buy the remaining shares of integra gold in an eastern region of canada. >>> and deutsche bank making calls in the coach. downgrading jcpenney and michael kors to hold. really, jcpenney down about a percent. >>> in tech news, lyft is teaming up with car developer waymo to develop a program. waymo has some of the most advanced technology out there. and it just started testing cars in phoenix, arizona. lyft offers ride sharing in 300 cities. the exclusive will continue to work with self-driving programs with a major investor in that company. >>> we're learning more about which high profile investors bought into snap which went public in march. and fidelity with 33 million shares. blackrock at 9.4 million shares advantage guard, only 7 million shares and downlights third point 2.25 million. and the

is thepany that won australian company bhp. it is in shallow waters and onshore. we are making progress in finding partnerships and taking advantage of the energy reform. i think we will develop the fields that have been assigned to us. alix: you are in a time crunch. you have to get it done by august. are there certain fields and joint ventures you have to get done fast? can you tell us where you are and what the status is of that? >> in all of them, we are to make progress to make sure we meet the regulators requirements so we don't have to return these fields, especially the ones where we know there is oil and especially the ones where there is production. we're concentrating on maximizing the number of small fields so we can do them, and we're going to work not only on big farm out like before, but on clustering small allocations, small fields so we can migrate together. alix: speaking of, your approved three oil production areas for joint ventures. are you close to partnerships this year? who might they be with? >> it is hard to say because it is a competitiv

bhp

. -- bhp is changing their it hasd they said nothing to do with the recent calls for reform.s your bloomberg business flash. >> thank you very much. this is the first full day in the office. >> good morning. the president was sworn in hear the and we should name of the new minister. businessman who riske cofounder of the services company. what did you expect from him as a businessman? you used to be in favor of the republican. what do you expect? was expect reforms and he elected on a reform platform and electorate andhe they need to bring change. pointsnew prime minister business withfor the right-wing. >> we need a coalition we do not want political paralysis and we have to change what they are looking for. him to get aect majority in parliament? that he very unlikely can secure the new parliament half the candidates are new to politics. outcome is going to be rather balanced between his political movement and the center-right. you have a think tank in the macrond do think that should be tough in the brexit negotiation? >> this is two different issues is a pool add they wer

. >> seems the odds are not in elliott adviser's favor given the unsuccessful attempts to split up bhp billiton and now this. do you think there will be more? >> yes, it's what they do. and the investors into elliott like it. >> gemma, thank you very much for that. interesting story. >>> the london stock exchange agreed to acquire citi's fixed income analytics yield book and indices for 6$685 million. citi said the transaction represented a strategic decision. the deal is expected to close in the second half of this year. >>> do e-mail the show. the address is streetsignseurope@cnbc.com. you can also find us on twitter, streetsignseurope@cnbc and tweet me, @carolincnbc. >>> still coming up, theresa may and jeremy corbyn face tv grilling ten days ahead of the election. could the debate help corbyn close the gap in the polls? we'll find out in two. >>> welcome back. british airways says it will be operating full service from heathrow and gadwick airports today after announcing computer systems were back up and running again. it warned that it may take time for bags to be reunited with tr

. >>> elliott management upping pressures for changes at bhp and calling for an independent review ofhe mining giant's petroleum business. >>> snap having its second strongest day since going public showinginstitutional investors bought shares. it's up 0.1% today. >>> when we come back, spacex successfully launching a rocket. details ahead. >>> here's the national forecast from nbc's bill karins. >>> good morning. we are watching severe weather today. possibility of tornadoes. that could mean travel delays. already a lot of storms from minnesota through north dakota and into areas of nebraska. as we go throughout the severe threat today, 13 million people at risk. we have a chance for a tornado, maybe even a strong tornado today. western kansas, western oklahoma, and that northern sliver of texas. the severe threat from techs to minneapolis. the other story is that the heat wave is coming for the east coast. the warmth spreading up the eastern seaboard. look at wednesday, 95 in the nation's capital. new york up to 91. test out those air conditioners, it will get at and summer-like in

activist investor elliott manager says a meeting with bhp ceo was constructive. after the hedge fund upped pressure for a strategic change at the mining giant. >>> shares of ascena retail plunging to reflect worse than better business conditions. q3 comparable-store sales are expected to decline %. talk about retail pain. that stock down 33% premarket. >>> halliburton's ceo is retiring on june 1st. he will be replaced by current president jeff miller. >>> some more stocks to watch. burberry shares rising in european trade. full-year underlying profits fell 21% due in part to weak demand in the u.s., but the fashion firm told investors its pretax profit is set to rise by the end of the year. up 1.7% in london trade. >>> sirius xm is in active talks about making a bid for pan dorya. the "new york post" says the bid could range from $12 to $13 a share. >>> and data showing an immunotherapy combination was effective in leng cancer stulun cancer studies. >>> brazil's president denies bribing payments to silence former house speaker kunia who led the impeachment fight.

a second bhp billy ton shareholder making a push for strategic changes.hey are being pushed to sell u.s. shale assets and overhaul the board and management. >>> insurers and hospital stocks rising yesterday as the house passed a gop healthcare bill. but there's a tougher challenge ahead to come in the senate. we're live in washington with the latest. >>> first, as we head to break, the national weather forecast from bill karins. >> good morning. the weekend forecast is looking a little unusual. starting with a lot of heavy rain, a lot of business travel problems. soaking rain in washington, d.c. coming up through the northeast today. we know we'll have airport delays at the major airports, d.c., philly, and later this afternoon up towards logan airport in boston. showers in atlanta. straight thunderstorm in miami. middle of the country dries out. you probably have seen the pictures of the horrific flooding in arkansas. they will dry out. rivers will start coming down. for saturday, showers ending in the northeast. on sunday, remaining kind of cool. we wil

it also follows a six-week stoppage at bhp's copper mine in chile.ws 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. a quick check on the markets trading, holiday thinned session. the s&p 500 in australia just keeping its head above water for a seventh straight day of gains. japanese stocks higher by .4%. this is bloomberg. ♪ david: let's talk about your show. you ended the show in 2011, but around that time you decided you o.w.n.ing to build the which is oprah winfrey network. oprah: oprah winfrey network. david: that was a joint venture between you and discovery channel. and you were still doing your show in chicago and they say let's do a network, and so you are still finishing the show and the network is starting, so it did not go as well as you would of liked at the beginning, but then you finish your show and it worked out pretty well. now it is doing very well. oprah: doing very well. we have some really great, successful shows on there. i partnered with ava duvernay this past ye

it follows a six week stoppage at bhp's copper mine in chi le.ghing up locations to start manufacturing in the u.s., that after the chief executive met president trump. foxconn is the biggest assembler of components. the ceo indicated he was planning a u.s. display making facility for $7 billion. the european union will present a united front of her brexit after taking less than a minute to agree on its stance and brussels. the 27 leaders met without the u.k. and are determined to stick together to dissuade other nations from considering leaving. donald tusk reiterates that trade talks were not begin until sufficient progress has been made on the uk's withdraw. this is bloomberg. ♪ caroline: welcome back to the "best of bloomberg technology." i am caroline hyde. now to our exclusive conversation with dropbox ceo drew houston. the cloud filesharing startup has been touting financial milestones of the company inches towards a public offering. dropbox is already cash flow positive with annualized revenue of more than $1 billion. and houston told us

siemens, s&p, bhp billiton. novo the from a suitable stocks this morning are well bid. up next, it is bloomberg surveillance. francine lacqua, and joining tom keene. i'm going to join anna edwards on bloomberg dab digital radio. ♪ francine: the market season no fomc responded softening economic data without reducing expectations? iphone sales slump as consumers wait for the next big update. can apple deliver the blockbuster new features it needs to fend off rivals? brexit gets bloody. theresa may says that jean-claude juncker is finding out what a tough opponent she can be. o the gloves appear to be off.

elliott management has come out with a new list of demands at bhp billiton. a full or partial spinoff of oil assets. they also plan for a review of the corporate structure. it would allow it to stay headquartered in australia. hackers claim to have stolen and unreleased disney movie and threatened to release it unless they are paid a ransom. ceo bob iger disclose the threat in a , staff members. -- a call with staff members. they say they will not pay. francine: china has increased its holdings of u.s. treasuries by the most in two years. it's ownership of government bonds stands at over $1 trillion. it's a sign that the second-biggest economy is stabilizing and stricter capital controls have helped. this comes after president xi pledged $78 billion for financing with the infrastructure initiative. diana and peter hooper is still with us. right to have you with us on the program. give us a sense of how we should look at china. $78 billion is quite a big number. his president -- is president xi trying to rival president trump to be the big man on the global st

. >> as we head to break, look at the shares of bhp billiton the world's largest mining company, sittingshing for changes. this as the pull singer came off removing klaus kleinfeld from a role. the stock is up a quarter of a percent. more "squawk on the street" after this. after this. ♪ it's been over 100 years since the first stock index was created, as a benchmark for average. yet a lot of people still build portfolios with strategies that just track the benchmarks. but investing isn't about achieving average. it's about achieving goals. and invesco believes doing that today requires the art and expertise of high-conviction investing. translation? why invest in average? >>> that does ron paul thinks the federal reserve needs to do first? we'll ask him on "trading nation." >>> stocks are on the move higher. the focus is earnings and a lot of the big cat tech names that are set to report this week are already strong, reaching record highs. check out for instance, netflix, apple, facebook, all at records. apple will report results tomorrow after the closing bell. this is the dow's best pe

they have been taking it to bhp billiton.been going on for months for arconic. >> akzo nobel. >> after them as well. to try to pave the way for ppg to go hostile which they have to do before july 1st or step aside. >> this is a shock. they must have had the votes. >> they get three of four. >> be aware. look, this is a sign they'll take something that klaus said was short termism. and short termism that means stock higher, i guess. wow. >> meanwhile, jim, we have semiconductors nvidia, micron, a bunch of hours. >> i was waiting who was going to come out positive on nvidia today. now you have $7 a share which means that nvidia is not expensive. nvidia is deep learning. machine learning. it's gaming. >> machine learning, ai, gaming. it's everything. did you read that speech from that -- at the investor day? >> sure. jensen's speech. jensen's speech. remember, he feels that software at one point was going to eat the world and now he says that artificial intelligence is going to eat the world. and nvidia is in a lot of autonomous