tpg jumping 15% while you have the tightly held shares to the highest level in ii yea rs.highest level in ii years. as for telstra, its stock is rising by 2.5%. as part of the deal, tpg says it will spin off the singapore mobile business, separating it from the new merged company. it seems like this deal will materialise by 2019. thank you and nice to see you, ricoh. —— rico. now let's brief you on some other business stories: chinese made batteries failing to meet performance aims. tim cook, the boss of apple, has collected $650 million in apple stocks since becoming chief executive and has led the company to be worth over $1 trillion. remember when he got that job, many were so concerned of how we could feel the shoes of steve jobs but many would argue he has delivered. where we are seeing wea kness delivered. where we are seeing weakness in the markets today is in hong kong and china. they are falling because of concern over the trade war between the us and china. the us are making the news. the snp 500, for trading days in a row of record rises. it is boosting other ma

ramy: all right, james, what does tpg need to do?have a heavy debt burden, partly due to theperception pertaining to spectrum auctions here in australia. this deal will help them considerably, i think, in getting that under control, as they got the financial market with giant players like vodafone ,nd hutchison behind this deal and they are not really going to have to raise any cash for it, so it makes sense from their point of view, from a financial point of view, when these two together.spects come it is a real game changer for both of these companies. ramy: james, thank you. our sydney bureau chief. and using our bloomberg terminal, you can touch up on key analysis and see charts and save them for your future reference. this is bloomberg. ♪ this is "daybreak: this morning, and coming up, "daybreak: asia." yvonne? haidi, we have a guess, the samsung ceo just months into his new job after the short seller had a report with questions about the resume, the dealings with the family businesses, and overall the question of corporate gove

the new entity, which is called tpg, has already been given a thumbs up, as shares soar across australiad result in better service and lower prices. it is one of the biggest complaints over there, broadband, many it is one of the biggest complaints overthere, broadband, many say it is one of the biggest complaints over there, broadband, many say it is too slow and equality is not good enough. the move comes as australia's telco sector faces uncertainty because of a from the government of a government owned broadband wholesaler which has impacted internet profitable as you. thank you very much for that update. now it is time to check the global financial markets. a mixed picture in asia, despite the nikkei surging again. the tech heavy nasdaq extended gains, closing at a record for a fourth session. the dowjones was also up. let's look at the situation in europe. as you can see, they have opened lower, the major industries. there is still concern about the growing trade talks about the us and canada, investors will be looking closely at that. let's have more on argentina. its currency the

. >>> vodafone's australia business is merging with tpg telecom. they will form a larger third player to take on competitors. tpg will own 49.9% of the merged company, which will have an enterprise value of $11 billion. tpg shares have jumped to a near two-year peak in australia, while shares of hutchinson hits an 11-year high. >>> and the merger between the retail power younes of sse and in innogy se has been green lit ♪ >>> all right. the group stage draw for the champions league takes place later today in monaco with real madrid bidding to win the competition for a fourth year in a row. adam joins me to discuss more. >> thank you very much the draw takes place in monaco later this evening we'll get on to the specifics on the draw in a moment i would like to look into where the money goes from the champions league uefa says they have a net revenue for the competition of around 2.73 billion euros. and then that gets distributed about 2 billion of which for the club's participating in the champions league just to put that into context, europe's sec

the new entity which will be called tpg is already being given a thumbs—up by investors.etter service and hopefully lower prices, too. broadband service in australia is one of the biggest complaints for people over there. many have said that it is far too slow and the quality is just not good enough. the move comes of course as australia's telco sector has been facing uncertainty because of the roll—out from the government —— a government owned broadband wholesale which has impacted if done that internet profitability. and from china. coffee was big business and most countries in the world, and china is getting bigger. tis world, and china is getting bigger. t is the traditional drink but more people are switching to copy. here's how this is shaking down from beijing. a year ago this company has zero outlets. now they have got, wait for it... over 800. the plan is to have 2000 by the end of 2018. welcome to modern high—speed capitalism, chinese style. this is one of the chill alleyway caf s in the old part of beijing. here it is perfectly normal to hang out for as long as

tpg is one that offers the indian.connection through your mobile phone. that is what the new company might focus on, offering companies five g and winning new company is —— customers by using that to attract. —— marquetry. —— 5g. three of china's for state lenders have recorded profits for the first half of 2018. icbc, the largest of china's lenders will reveal its half—year financial report card later today. so far this week guessing that the export agricultural anchor china up like 7% compared to a year ago levels stop in the bank of china posting a 5% hike. and china construction bank corporation netting a 6% rise. elenor explains what is driving up their profits. one of the main reasons behind this rise in profits that we are seen across the big three banks that have reported so far is actually the chinese government's two year crackdown on shadow banking and deleveraging drive has really pushed businesses 01’ drive has really pushed businesses or way from lending with the smaller banks and the shadow banking secto

the tie-up could unite tpg's broadband services with vodafone's almost 6 million australian customers. >>> the italian government could take control of autostrade according to reuters the economy ministry has denied knowledge of such a plan the board of autostrade separately approved a 500 million relief fund in the wake of the genoa relief collapse carlo joins us from rome you have been following this story. there was the board meeting that occurred yesterday what more can you tell us, particularly in light of this reuters story suggesting that cdp may be looking to get a stake into atlantia as well. >> good morning. the building behind me is the same one that yesterday hosted autostrade's board meeting today's atlantia board of directors will be a different one. atlantia has many important international shareholders ranging from hsbc to blackrock to the singapore wealth fund and then the bennaton family the representative of these shareholders want to know what is the cleanup strategy the company devised after the jen ra bridge collapse. they will also talk about the latest from pri

tpg has not done them. you also go public to cash out your founders.that will come up -- some speculation is that does tpg sell a stake to a pension fund, sovereign wealth fund, to get some of the money back. in that case, selling stake in the firm itself and different than a regular one. alix: in general, companies may be opting to stay private longer even than to cash out shareholders. uber. david: tesla. a trend. alix: an amazing story in the commodity world. asia with company in gigantic commodity trading firm. wasne point, the market cap $18 billion and now it is almost zero. a part of it was a man, who said there was fraud, county fraud and we finally know who he is. he said that companies have to die. die.d companies have to jason: he came from behind the curtain. that they have been talking to a source that a turnout was this guy since 2015. tracking it along the way. see accounting fraud potentially like this and you see the decline, you think of shorting the stock to get a profit. he said he is not. david: shorting other stocks that not this

the founders have flirted with selling shares but now tpg is deciding to remain an old-school partnership learned considering other -- as well as a possible share of stakes in the company. a british websites comparison prices fell. amazon is holding talks with insurance companies about creating a rival website. reports say there are no imminent plans to launch a site. that is your business flash. as the u.k. continues to grapple with reaching a brexit deal, people are preparing for the worst. bloombergs francine lacqua spoke with iain duncan smith about brexit, boris johnson's controversial remarks and free speech. >>with iain duncan smith about i think what business needs is to arrive at a conclusion as quickly as possible and then they can bank that. with respect to the markets, they have been forecasting incorrectly for a long time. if we were to go on with what the markets think the future looks like we have made a lot of mistakes already. i just noticed the second quarter data, growth of one point 4%, this was not forecast even seven months ago. that the u.k. was going to have declin

tpg, dhs the owner of it, prime equity owner of it, had tried to sell it.here is no bid for it at this level i don't think it's sold, but it's definitely a growing business as more teams, both management teams, leave the main platform >> finally, johnny o has a question for weiss is intel a commodity stock like micron >> i just can't get away from him. >> the other way around. you keep mentioning johnny oh, so he feld compelled to send you another question >> he is inside my brain >> over 20 years the company has fits and starts and always goes back to a beta slide it's not something i'm getting into >> maybe johnny oh -- thank you very much. reminder, send your questions to us cnbc.com/halftime. we're back i think that she's a very nice girl... you never got the brakes looked at? oh yeah. no. at cognizant, we're helping today's leading manufacturers make things that think and do automatically. imagine that, a world of new digital products and services all working together for you. can i borrow the car when it's back? get ready, because we're helping leadin

tpg telecom, aat massive deal coming through with them and vodafone hutchison.ioned the weakness in the aussie dollar on that fallen capex and you have ij markets saying it could fall to 71.6 cents. where watching the strengthen the dollar against the indian rupee. the rupee at a record low against the dollar, higher crude prices and the selloff in em currencies weighing into that move. manus and anna. manus: thank you very much, we will see with the central bank of india has to say to the u.s. donald trump has said talks with canada to overhaul the north american free trade it -- agreement are going well, expressing optimism that the countries could reach a deal this week. president trump: we are negotiating with them right now, they want to be part of the hill, we gave still friday and we are on track to my we will see what happens. things are working out very well. manus: the canadian prime minister justin trudeau's has said his government is trying to reach an agreement but he added that canada will not sacrifice its goal of getting "the right deal." nil in

hutchison australia said it will merge with tpg telecom in an attempt to better challenge market leaderelstra him. strom. $3 billion is being resent from the deal and bill -- will be there and t by the two offshore giants. that is your bloomberg business flash. businessralia investment dropped, despite the economy showing stronger growth. the kiwi dollar is also taking something of a beating. confidence in new zealand extended its decline with sentiment about the general economy sinking to its lowest level in a decade. froms finnerty joins us singapore. on disappointing data but the kiwi looks to be the real source of pain here. >> definitely, no two ways about it. they both had disappointing data but the kiwi, the business confidence outweighed the data. -- they willing cut rates. one of the criteria [inaudible] so we had this negative trend for nearly a year, business confidence and today was a fresh low. the market is sinking and a rate cut, it may not be imminent but if this trend continues there will be more pressure to cut. particularly if inflation does not pick up. ont: we have

we heard in july some reporting talking about how costa had attracted bids from tpg.e winneris here because coca-cola has made the winning bid. interesting that whitbread says the majority of proceeds will be returned to holders. we have seen whitbread trading higher on a number of occasions on speculation the business could be spun out or on broker notes that suggested that could have taken place. proceeds will be 3.8 million pounds and the majority of proceeds will be returned to holders. aboutving a conversation whether or not we are at peak coffee and the ceo says we are not. certainly not. back to trade and president trump has threatened to pull out of the wto if it doesn't treat the u.s. better. he spoke with bloomberg's editor-in-chief saying nafta was the second worst steel ever made, surpassed only by the wto. say the wto was the single worst trade deal ever made and if they don't shape up, i would withdraw from the wto. nejra: another sign of disputes between u.s. and allies aren't following, he dismissed the eu's offer to scrap auto tariffs. >> not good eno

up an entity which would be big enough to rival the incumbent or the original mobile .hone network tpgnty of an agreement. a market value of $4.3 billion usd. it has added 6 million customers as of the end of june. you were saying that a trade war with china could give them an opportunity to make long-overdue economic changes, economic reforms. what would they be? and would they undertake them? tandy: the right way for china is make china's economic development more inclusive. would opening -- that would be opening the financial system and raise the household disposable income from a very low 42% to 60%. that would be a normal level. that would at a boom to china's trading partners. received if you are trading partners get a lot of benefits. that's the only way forward for china. somenot a time to have strategy targeting certain people, to target certain companies, and try to gain some advantages. that would be the wrong way to look at what is going on. the right way to look at it is china's system. need to changell its favor. putting a hand on the liquidy pound is one way. the normal

one down here at the new york stock exchange tpg is the primary owner here. 45 million shares 16 to 18an eye on that. then we have well known speaker at the nasdaq. sonos. they'll price 13.9 major shareholders is kkr. kkr owns 22% of the company here and, of course, sonos is competing with apple which has, you know, its own system that is out there. we'll see how they do. by and large, big couple of weeks. we'll go into the august slump we're hitting the final wade now before we get into the prelabor day slump that officially happens with the ipo business. right now dow up 5 point -- 8 points with a modest open. back to you. >> thank you >>> what a day in the bond pits. we'll check in with rick s santelli. >> a big day and it isn't over yet. look at the 24 hour chart of 10s. we're trading currently at 3.01. if you open the chart to early may, we haven't been at the 3% level since may. maybe the most important thing is why okay, above and beyond the fact that fed meeting and we seem to rise into it, by the way, the curve is steepening today. it's a global environment. the bunds are movi