ritika: this is "bloomberg best." i'm ritika gupta.ertainty continues to weigh on global economic growth and in hong kong, unrest advocate investment picture. the world's second-largest fixed income etf provider after pimco plans to expand in china even as the trump administration considers curving fund flows to chinese equities. bloomberg's tom mackenzie spoke to the ceo in beijing. tom what i focus on, the larger : narrative, which has been happening for over a decade is the opening of the agenda of the china renminbi and local capital markets to the rest of the world and i think if you want to call that making hong kong less important as an entryway in and out of china, our offices are in shanghai and we do that because i think going forward, shenzhen and shanghai and beijing are important cities in their own right for the capital markets in china. tom: are you still seeing demand in terms of inflows into your china etf from u.s. investors? >> >> let me say no. let me be very clear. the headlines, the trade war, everything going on

i'm ritika gupta.omberg. ♪ from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an eligible phone. call, click, or visit a store today. taylor: i am taylor riggs in san francisco. this is "bloomberg technology." coming up in the next hour, start the presses. that is what facebook's news app -- cap will do for publishers hit hardest by the advent of the internet and facebook. plus, prime pains. why amazon's one-day shipping is causing hurt now, but will benefit the company in the long run.

ritika: this is bloomberg. ♪ ritika: this is "bloomberg best."'s continue our global tour of the week's top business stories. in canada, the prime minister keeps his seat, but loses parliamentary majority. >> canadian prime minister justin trudeau has won a second term among scandals. >> thank you for putting your trust in our team. thank you for having faith in us to move this country in the right direction. >> he will have to govern with the support of the left-leaning new democratic party, progressive de facto coalition. nonetheless, a win for trudeau, who lost the popular vote. it was an outcome that will look familiar to donald trump. trudeau lost the vote, but it was spread out more evenly. he won significantly more seats. -- more seats in the conservative, the second-place party. for now trudeau is status quo, he is still the prime minister, has to name a cabinet. then things get tricky. he will not have a majority. they can look more into scandals that dropped his popularity in the first place. it will be a messy, rougher ride for justin

ritika: the u.s.troops and armored vehicles to help protect oilfields in northeastern syria. defense secretary mark esper says the u.s. wants to make sure that islamic state militants don't get access to the oil. right now the oil fields controlled by syrian kurds. last week, president trump insisted all american troops would leave syria. in northern california's wine country, pg&e had a power line failure moments before a wild fire broke out nearby. that fire has blackened 16,000 acres and destroyed 49 structures. earlier this week, pg&e turned off electricity powered to 500,000 people in california to prevent powerlines from starting fires. it's is a bigger blackout is likely this weekend. democratic presidential candidate joe biden has unveiled a labor plan aimed at middle-class voters. the proposal would help workers unionize and protect the rights. left,s rivals to his elizabeth warren and bernie sanders, have styled themselves as champions of working americans. investigators found problems and m

ritika: the u.k. prime minister was suspend parliament next week so he can lay out a new legislative program ahead of the brexit deadline. the suspension will last six ons with mp's returning october 16. johnson has also announced a new brexit plan, telling the eu he will make no more offers. brussels says there are problems with the plan, but johnson is refusing to back down. no doubt of what the alternative is. the alternative is no deal. that is not an outcome we want. it is not an outcome we seek at all, but let me tell you, my friends, it is an outcome for which we are prepared. ritika: the president of iran is the mainying he finds terms of the proposal to revive the accord acceptable. the plan calls for the u.s. to lift sanctions on iran, allowing it to export oil and collect the revenue. in return, iran is required to not pursue nuclear weapons and instead help pursue gulf security. global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in

ritika gupta. this is bloomberg. haidi: coming up next, ford is cutting its profit outlook. earnings bonanza. shery: and we are joined to break down more key numbers out of south korea. sk hynix is set to report its latest earnings in under one hour. this is bloomberg. ♪ . thi haidi: this is daybreak asia. shery: tesla shares are surging in late trading after earnings share, as $1.80 per blowing away average estimates foray $0.24 loss. we are joined now. we saw the first profit in about a year. what drove this? there are a lot of things to dig in here. the cost-cutting elon musk has been doing the last year really sort of came through this quarter. that is at least how the company is putting this forward. there are a lot of questions we have about things like a deferred revenue that they recognized during the quarter. they were able to do that by activating a certain autopilot feature. there is always a bit of a question about just how much credit revenue helped them. that sometimes comes out of the 10q after the ear

here's ritika gupta. the house vote expect it to break down along party lines. it doesn't make the president's conviction in the senate more likely, but it will lay out the rules and procedures. four months of protests have taken their toll on hong kong. the city has now entered a recession. hong kong's economy shrank 3.2% in the third quarter, much worse than expected, and it is the second quarter in a row that gdp has declined. experts say that for hong kong to recover, tourism from mainland china must revive. in august, it was half of what it was in january. in southern california, more than a dozen bushfires have broken out. the biggest is near the ronald reagan presidential library. the fires are being driven by 60 mile an hour winds. in northern california, firefighters are gaining the upper hand on a fire in one country that has burned more than 76,000 acres and destroyed dozens of homes. it is a deal that will create one of the world's largest automakers. rivals fiat chrysler and psa group have ag

here with the details, ritika gupta. new jobs report offers a warning that the record long expansion is set to slow further. private payrolls in the u.s. expanded less than forecast last rose aand total payrolls less than expected 136,000. meanwhile, wages grew at the slowest rate in more than a year. still, the unemployment rate 3.5%, the lowest in half a century. the supreme court will hear its first abortion case with a new conservative majority. the justices have agreed to rule on a new louisiana law that orders doctors who performed the -- at a local hospital. administration is taking steps to temper criticism from farmers and midwest politicians before next year's election. the environmental protection agency outlined plans today to boost demand for corn-based ethanol and soybean-based biodiesel. the move is designed to make up for waivers exam thing some small refineries from the mandate. the action was provoked by anger in politically important farm belt states. in india, the central bank is vowing to ease as lon

first word news with ritika gupta. the united nations has condemned violence in chile and urged all sectors of society to reduce tensions after protests clashes that have left at least 11 people dead. police used tear gas and streams of water on monday to break up protests on one of santiago's main streets. many people lined up at supermarkets that reopened after stores looted or burned. companies accused of fueling the u.s. opioid epidemic may be closer to resolving thousands of lawsuits after three largest debaters and a major generic drug manufacturer agreed to pay $260 million to settle a case in ohio. the distributors and israeli drugmakers have settled just before a federal trial. the agreement may become a benchmark for a wider industry settlement involving dozens of companies. allianz chief economic advisor is still bearish on the global economy. the bloomberg opinion columnist normalizing the yield curve does not necessarily signal a brighter outlook and there are still plenty of reasons why the imf might issu

. -- with ritika gupta. ritika: lebanon's prime minister has resigned. demonstrators were attacked by supporters. in a televised address, he said he reached a dead-end and that it was time for what he called a major shock to confront the crisis. protesters in beirut are calling for other top officials to step down. boeing's ceo, dennis muilenburg, defended the company's ability to sign off on aircraft designs. he admitted mistakes have been made. he testified before the committee, where he faced tough questioning over the steps that lead to deadly clashes involving 737 max 8 jets. he said the company would review reports but declined to endorse specific messages. >> this is not going to be timeline-driven. we are committed to answering every question that regulators have and the airplane will fly when everyone is convinced it is safe. that is the most important thing here. ritika: blackouts are set to continue in california as the wildfires worsen. the state governor says more than 300 fires have been put out in the last one he for hours alone and around

right now, here's ritika gupta. an iranian oil tanker has been hit by missiles and the red sea, the latest in a series of attacks in the region that have rattled the energy industry. iran's tanker company first blamed saudi arabia, but it is now backed off. the tanker was near the saudi port of jetta when it was hit. the european union's chief negotiator michel barnier has recommended that the two sides can enter the so-called tunnel, the process by which negotiators discuss drafts of the legal text in secret. the eu holds a summit next week, and british prime minister boris johnson has vowed to leave the eu by the end of the month. next week, i.e. you leaders will discuss sanctions against turkey for its invasion -- eu leaders will discuss sanctions against turkey for its invasion of northern syria. president erdogan is threatening to open the doors to europe so that 3.6 million refugees living in his country. the nobel peace prize has been awarded to the prime minister of ethiopia. ahmed was honored for his work w

let's get to first word news with me ritika gupta.ing toa is sell euro-denominated bonds amid a slump in borrowing costs in the currency. it would be china's first euro bond issuance in 15 years. .verage yields are below .5% china returned to the dollar bond market two years ago after a gap of about 13 years. meanwhile, china is taking another step to opening up to foreign investment. it will allow foreign firms not already engaged in the investment business to conduct equity investment in domestic companies. it is the latest in a series of moves to make it more attractive and convenient for foreigners to invest. earlier this month, regulators announced the timetable for foreign financial firms to take full control. a pro establishment lawmaker in hong kong has confirmed beijing is considering a plan to replace carrie lam as chief executive. he says he has information the chinese government is considering candidates to fill hong kong's top job next year. >> it is a political rumor out of a terrier motives. potential governments will f

let's get to first word news now with ritika gupta. ritika: the prime ministers of the u.k.land are to meet later thursday for talks that could seal the fate of brexit. they will explore if the two sides can find room to compromise, especially over the irish border. the u.k. is set to leave the eu in just three weeks without a deal. rival camps blame each other for the lack of progress. italy has sold $7 million worth of bonds, more than double its initial estimate in its first offering of dollar-denominated securities since 2010. the heavily indebted nation received orders above $18 billion, helping widen its investor base by tapping the u.s. market. bloomberg data shows as part of the offering, italy sold $2.5 billion of five and 30-year bonds and $2 billion of 10-year notes. struggling utility pg&e plummeted in late trade after a judge stripped away its exclusive control over its restructuring. the decision reverses an earlier ruling that denied bondholders a leading role in any turnaround. pg&e is preparing for the next phase of its unprecedented blackout across northern

i am ritika gupta.s is bloomberg. ♪ shery: stocks pushed to their lowest since august, and the dow has followed almost 600 points. su keenan joins us. even the 10-year yield sinking. dismal economic numbers. su: and technically, there were a lot of things going on for the s&p 500, which is still up year today, and let's go into the bloomberg. it also broke below an important price trend average that was set back in august, so, again, if we can go into the bloomberg, the s&p 500 again sending a signal that what we are seeing here is, perhaps, bearish momentum starting to build, and what the truck watchers say is a shifting momentum, that could mean -- and aat stock watchers say is shifting momentum. we also saw energy one of the big declining sectors along with financials. slightly positive futures, so that is interesting, but we did close off the lows of the session, which is technically important. let's go to the big movers, and note a big pickup in a homebuilder, coming in with very strong results, sh

this is bloomberg. ♪ ritika: this is "daybreak asia." i am ritika gupta with first word headlines.dent trump is embroiled in new controversy with sources saying that two years ago, he pressed rex tillerson to intervene in a justice department criminal case. we are told the president wanted tillerson's help in dropping action against a gold trader who was a client of rudy giuliani. we are told tillerson refused, arguing it would constitute interference in an ongoing investigation. trade talks are set to resume in the coming hours with china said to be open to a partial deal if the u.s. eases up on its terror threats. -- tariff threats. negotiators are not optimistic about the agreement to end the rumbling trade war, they would accept a limited deal as long as upcoming tariffs are called off. china would offer concessions on farm purchases whilst not giving in on major issues. the nba is on the ropes in china, having lost almost all its major mainland -- in the fallout from a tweet supporting hong kong's protests. -- is the latest to distance itself from the league, joining china's t

ritika: the top u.s. to ukraine has directly contradicted president trump's assertion there was no quid pro quo behind his july 25 phone call conversation with the ukrainian president. ambassador william taylor made a statement to the congressional committees. the president tweeted that the impeachment inquiry is "a lynchi ng", but added that we will win. india is considering curbs on some imports on turkey and malaysia in response to the leader's on the autonomy. we are told the modi is exploring tariffs and nontariff measures. holdy urged india to negotiations in pakistan. the malaysian might -- prime minister says india has invaded and occupied kashmir. protests have continued in chile while the president met with political leaders to explore solutions to the crisis. the government says 15 people have been killed in five days of writing and violent clashes. about half the country remains under an emergency decree or military curfew. the unrest was sparked by an increase in subway fares that spread into

i am ritika gupta. this is bloomberg. guy: thanks very much. of our bring part exclusive conversation with robert kaplan, president of the dallas federal reserve bank. he is a voting member next year. we will talk about his growth outlook and the fed balance sheet, next. this is bloomberg. ♪ ♪ live from new york, i am romaine bostick. guy: i am guy johnson. looking at what is happening in the markets ahead of the trade talks, abigail doolittle is here with the details. abigail: we have a risk on day around the world, not so much in europe, but in the u.s., look at the s&p 500 up a half a percent. hopes around the trade talks between the u.s. and china that a partial deal will come out of it. oil up, ate tens of 1%. investors moving up -- out of bonds. haven assets doing less well. if we take a look, the s&p 500 is risk on. investors selling the defensive sectors. financials up top at 1%. energy, but that those sectors being driven by rising yields. some of the biggest movers on the s&p 500, take a look at skyworks solutions. shares higher end p

here's riddick a group to that here's ritika gupta -- here's ritika gupta. in paris, a man with a knife killed four before he was shot and killed. he is an administrator who worked in the intelligence unit. paris police headquarters is located across the street from the notre dame cathedral. in the midst of all the impeachment talk, president trump will speak to a friendly crowd today. he's going to florida to announce an exec at of order aimed at protecting medicare. president is speaking at a retirement hub an hour from orlando. it is considered a must stop for republican candidates. another sign of potential labor market weakness in the u.s., filing for unemployment benefit rose to a four-week high. initial jobless claims were up to 219,000. still, claims are near historically low levels. the government comes out with a september jobs report tomorrow. and hong kong, the protests reportedly are prompting the government to invoke an emergency law for the first time in half a century. reportsg to local media , the government will ban facemasks in public. the

i'm ritika gupta. this is bloomberg. shery: china seems to be pressing because on trumps a fire's military trade deal. steven mnuchin says there are plans for more negotiations. >> the current plan is there will be deputy level calls this week with principal level calls next week with ambassador lighthizer and myself and the vice premier. if we need to have in person meetings, obviously, we will do that. shery: our china correspondent is watching this in beijing. can we take this as beijing's usual measured response, or is there something else here? >> it largely comes down to a lack of trust. the u.s. don't trust the chinese to implement the deal, and that has been a big part of the reason why they push for an enforcement mechanism. that is not there in this phase i deal. on the chinese side, they have significant lack of trust when it comes to it president trump will hold up his side of the agreement. they were we blessed by previous deals that they thought they had secured with trump only for him to turn around and sl

ritika gupta. trump warneddent he would obliterate the turkish economy if the military oversteps an unspecified line in syria. the president sparked criticism by allowing turkey to cross the .order before backtracking the white house is adding to the confusion by saying he did not authorized military action against the kurds. is hong kong subway system back to normal on tuesday after a long weekend of protests left several stations badly damaged your exam will remain closed and all trains -- badly damaged. all stations will remain closed. president trump warned china that trade talks would suffer if anything bad happens to the protesters. pres. trump: i would just like to see a humane deal be worked out, and i think president xi has the ability to do it. i sort of said that i think he is a very convincing man and if he met with some of the leaders, that could be one problem. you do not seem to have a specific leader. index says china is expanding at a pace close to what official figures claim. alth

let's get the first word news with ritika gupta. ritika: president trump has upped the ante.esident xi are due to meet in file. the word from china is negotiations are advancing and it has already started buying all u.s. agricultural products. wilbur ross said what he called the actual meat of the agreement would come into more phases. more phases.o the house speaker on monday rejected his latest bid for a parliamentary vote on the deal. opponents accused johnson of trying to ram a complex bill through the parliament as he seeks to get the u.k. out of the e.u. by the end of this month. companies accused of fueling the epidemic, thousands of lawsuits, a manufacturer agreed to pay. distributor settled just before a federal trial. the agreement may be, a benchmark for a wider settlement involving thousands of companies. japan is preparing for an elaborate ceremony later tuesday that is even bigger than the rugby world cup. political leaders and people around the world will gather at the imperial palace in tokyo mark the enthronement. formally install him as japan's 126th emperor

ritika: thanks.hina is hesitating over president trump's partial trade deal, saying more talks are needed before any signing can go ahead. sources in beijing say the vice premier may lead a delegation to hammer out more details of the potential agreement which could then be signed by president xi and trump next month in chile. china wants the u.s. to abandon planned tariff hikes in december. the current president of the european union says there will be no brexit deal before this week's summit. the prime minister of finland says time has run out to reach an agreement before thursday. the news came as queen elizabeth delivered the traditional speech outlining her government's legislative agenda. boris johnson's plan includes a general election on the brexit strategy. the protests in hong kong may have taken a dramatic turn with police saying a homemade bomb was detonated on a patrol car this sunday. the device was set off about 10 meters from a police car. no one was hurt in the exposure, but police s

ritika: thanks. the u.k. is preparing for a general election on december 12.rime minister boris johnson finally managed to win backing in parliament to tracker -- to vote in an snap attempt to resolve the brexit crisis. it will be the third time the u.k. has gone to the polls to choose a new government since 2015. we will have a live report from london in a few moments. the psa group exploring a potential merger, according to people close to the move. we have been told there is one becomel, the ceo would ceo of the combined company. while the fiat chrysler chairman would become overall chairman. sources tell us psa board is due to meet wednesday afternoon to discuss the option. boeing ceo dennis muilenburg defended the company's ability to sign off aircraft, while admitting mistakes have been made. he testified before the senate commerce committee where he faced tough questioning over the steps that led to two deadly crashes involving 737 max 8 jets. he says the company would review reforms proposed by congress but declined to impose specific measures. >> the

ritika: the global economy is showing warning signs as manufacturing is stuck in a slump.xports falling and sentiment sliding. the u.s. factories index and excitedly dropped to the lowest since 2009. south korea reported a fall in consumer prices and the rba cut rates to a record low. the wto cut its forecast for comments to the lowest in a decade. toyota led the u.s. auto sales rate last month but in a good way. overall deliveries fell in september by 12%. recording a 16% decline year on year. automakers had to pay record $4000ives of more than last quarter according to jd power, automotive. the record 93 month sales growth streak has finally come to a halt. u.k. prime minister boris johnson will lay out his final brexit deal on wednesday, warning the country will crash out of the european union if brussels will not engage. planelegraph reports his was seen in a special relationship with the eu until 2025, subject to customs checks at the irish border. the eu is said to be discussing a potential time limit on the backstop mechanism. president trump has reviewed fashing th

ritika: turkey is continuing to send military forces to the border with syria ahead of its anticipatedncursion against kurdish forces. the buildup comes after president trump indicated the u.s. would not propose a cross-border operation against longtime american allies. turkey says it will move into syria to take control of an area from kurdish fighters it considers to be terrorists. the brexit blame game is heating up, with the no deal divorce looking increasingly likely. sterling fell after boris johnson spoke to chancellor merkel and accused her of making a new deal impossible. sources tell us merkel insisted northern ireland must remain in the eu customs union. johnson says the eu's refusal paves the way towards a hard split in three weeks. the philippine central bank governor says he is likely finished cutting rates for this byr, but could still ease reducing the amount of funds lenders must hold in reserves. it has two scheduled policy meetings before the end of the year. last month, and lower the overnight powering rate by 25 basis points to 4%. the third rate cut this year as t

ritika: you are watching "daybreak asia." the u.k.ay prime minister boris johnson will call an election if brexit is delayed until january 31 next year. johnson's push tois month was derailed with parliament blocking its plan to rush the deal into law. earlier, the house of commons had backed johnson's deal. it leaves brexit in limbo with long.u. now to decide how of a delay to offer. p.m. johnson: the house has again voted for delay rather than a timetable that would have guaranteed that the u.k. would be in a position to leave the e.u. on october 31 with a deal, and we now face further uncertainty, and the e.u. must now make up their minds over how to answer parliament's request for a delay. ritika: protests have continued in chile, while the president met with leaders to explore solutions to the crisis. the government says 15 people have been killed in five days of violent clashes. after country remains under an emergency decree or military curfew. the unrest is sparked by an increase in subway fares that spread into nationwide ant

i'm ritika gupta. this is labor. shery: thank you.eserve has at the policy's button, cutting its key rate for the first time this .ear -- third time this year saying it won't do so again unless the economy materially weakens. kathleen hays is here with more. what does this mean? could the fed be on hold for the longest come in definitely basically -- longest, and definitely basically? >> they based these rate cuts on the fact that the u.s. economy was ok, worried about the global economy. worried about trade tensions. they said this cut, third time this year, that was expected. what will jay powell signal about what happens next? what he seemed to signal is, we are going to wait and see. the policy statement drop the pledge to act as appropriate to sustain the economic expansion. here's what jay elaborated on when he talked at the press conference. >> we see the current stance of monetary policy as unlikely to remain appropriate as long as incoming information about the economy remains probably consistent with their outlook. moderate

first word news, we go to ritika gupta.emocracy demonstrators urged people to celebrate halloween by wearing masks in defiance of a government ban on masks. clear not immediately whether there had been violence between protesters and offices are anybody had been arrested. in southern california, more than a dozen brushfires have broken out. the biggest in your the ronald reagan presidential library. in northern california, firefighters are gaining the upper hand on a fire in one country. it has burned down more than 76,000 acres and has destroyed dozens of homes. transcanada energy's keystone pipeline we can estimate of 383,000 gallons of oil in northeastern north dakota. regulators discover the leak earlier this week, and the pipeline has been shut down since. million gallons a day. some wetlands were affected but no sources of drinking water. resuming hismp is social media attacks on the federal reserve after a -- casting doubts of a trade agreement with the administration. the president tweeted that people are "very disa

here is ritika gupta with the details.ts more talks before finalizing the phase one trade deal. the agreement could be signed next month. the chinese also one trump scrap a plan for tariff hikes in december. the u.s. decision to abandon its kurdish allies is reverberating on the battlefield. syrian government forces are pushing close to the turkish border after striking a deal with turkish fighters. they are warning they may not be able to secure camps holding islamic straight militants. at least 43 are dead after the most powerful typhoon to hit japan in decades. more than 110,000 military and civilian personnel are engaged in rescue and cleanup operations. every reins lead to flooding and mudslides in central and -- heavy rain led to flooding and mudslides in central and northern japan. hunter biden is stepping down from the board of a chinese private equity firm and promising to give up all work if the vice president is elected next year. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 27

i am ritika gupta. this is bloomberg. vonnie: time for our stock of the hour. its pace for the worst day in three years. the company cut some of its fees to zero. kailey leinz is here with more. kailey: this will be effective on october 7. eliminating all fees. option downrges for to zero. the company thinks this will have an impact on about $190 million of orderly revenue, about 3% of net revenue. this is why you are seeing the stock taking a hit. schwab had to do this in order to get investors more assets. i was looking through research from our analysts at bloomberg intelligence. 97% of the flows of passive funds have been in funds with 20 basis points or less. this is where the market is going. you see a lot of schwab competitors doing this like .lackrock and vanguard interactive brokers made a move to the zero commission trades. this is where the market was heading and schwab had to catch up. guy: presumably there are plenty of companies that have not done this and will now have to follow suit. the street telling us we will see more of this. when one compa

ritika: thanks. companies trading in new york just missed a session after larry kudlow dismissed a speculation they could be delisted. alibaba and jd.com initially reversed earlier losses, while tencent paired declines. baidu fell sharply throughout the day. the mood did not last long and all for companies closed the day in the red. >> the delisting is not on the table. i don't know where that came from. we are looking at investor protection, u.s. investor protection. compliance with the number of laws. ritika: the world bank is joining the growing list of institutions warning about global growth. this is the outlook is worsening with the downturn in europe, and trade tensions, and the uncertainty surrounding brexit. the president says the world economy looks even weaker than in the world bank's june forecast of 2.6% growth this year. most in august since president trump warned it would obliterate the turkish economy. the president sparked criticism by allowing turkey to cross the border of syria bef

ritika: thanks.here are fresh doubts over president trump mini trade deal with sources in beijing saying china wants tariffs rolled back before it will agree to boost purchases of american farm goods. china is ready to start buying more agricultural products as part of the phase one agreement which is highly unlikely to reach the 40 billion dollars to $50 billion by the president and the current circumstances. the imf has lowered its forecast for global growth this year for the fifth straight time, a broad deceleration across the world as trade tensions undermine any expansion. the fund says global gdp will rise by 3% this year. marking the weakest forecast through 2009. estimates for growth in advanced economies like the u.s. and germany were also cut back. representatives have added to the pressure on the hong kong government, passing a bill that requires an annual review of what of the city is officially a taunus from beijing. the bill also threatens sanctions against officials who undermine the c

i'm ritika gupta. this is bloomberg. vonnie: thank you. stay on that deal now between peugeot and fiat chrysler. joining us is bloomberg's milan bureau chief tommaso ebhardt. finally, we have some kind of deal emerging. explain to us the details and why this time it worked. this time, it worked because a few months ago, when fiat tried to combine with renault, we had an offer on the table, so the negotiation started after the offer. this time they are coming with a preliminary agreement, which will become a binding likely before christmas. , isdeal, a combination needed because the auto industry is facing technological disruption, especially here in europe. at the end of 2020, they will be new rules on emissions which allow the company to boost their presence in electric vehicles, so they need massive investment. we are talking about 200 billion euros for electric vehicles in the next five years. fiat is behind the competition in electric vehicles. peugeot is very strong in europe. arm is coming with its u.s. , jeep and ram, so it is a goo

ritika: boris johnson will try again on tuesday to get parliament to allow an early election.o get the two thirds majority failure to get it through. force johnson will submit a similar version of legislation which will propose a date for the election that will need only a simple majority to be approved. earlier monday, the u.k. accepted a three-month brexit extension offered by the eu. that eliminates the possibility of a no deal exit this week. the house of representatives will take its first votes thursday on whether to support the ongoing impeachment inquiry of president trump. the vote aims to nullify republicans main complaint that the inquiry process is illegitimate. it will be the first chance for all house records to be on record of supporting or rejecting the impeachment process. the european central bank president mario draghi has hand over the baton to christine lagarde in the form of this golden bell. lagarde will take the helm this friday. it is traditionally used to call for central bank policymakers to order. speaking of the hand over, draghi signed up for the

with get you caught up first word news with rithika -- ritika: three catalonia,shes in the spanish primevalls to stand firm, protesters demanding the release of separatist leaders jailed for last year's independence referendum. authorities are said to be considering moving the venue between -- venue in the football between football match barcelona and madrid. a call for stronger oversight to ease threats to a shaky expansion. the fund's latest global stability report says easier financial conditions have supported economic growth but also encouraged more risk-taking. it says threats to growth remain skewed to the downside. we will be live at the annual imf world bank meetings tomorrow in washington. guests include the asian development bank president and the central bank governor. european central bank policymakers are calling on governments and the institution itself to consider a change of strategy after years of stimulus and fiscal restraint left the euro zone stock with weak growth and inflation. the calls come one week before mario draghi holds the final news conference of his eight

i'm ritika gupta. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: live in toronto, i'm amanda lang. we are now joined by our bloomberg and bnn bloomberg audiences. here are the top stories we are following from around the world. china is skeptical about a long-term trade deal. sources have told bloomberg chinese officials will not budge on the thorniest issues, even as the two sides inched toward a phase one deal. another blow for canada's energy sector. driller announced its plans to move its headquarters to the united states. maker ultra is taking a $4.5 billion charge related to its investment in juul. and actionting bans from the fda. u.s. stockse seeing off session lows but still in the red and falling the most in three weeks. industrials and materials leading the declines on the s&p 500. we had regional manufacturing gauge coming in weaker than expected not to mention jobless claims rising more than expected. of course, u.s.-china trade tensions continuing, the d

david: so finally, if people are watching and they say i want to -- ♪ y95óóo ritika: coming up on "bloombergthe stories that shaped the week in business around the world. >> order. >> parliament debates and the e.u. deliberates. a slurry of action and in action, still no resolution on brexit. >> getting anything through this place is harder than it might seem. >> they do not want to make a move until the u.k. moves first. >> it is hard to see how we get an election, hard to see how we get resolution without one. >> the ecb stands on policy as mario draghi steps down. >> in terms of monetary policy, there are no changes. >> the incoming data confirm our previous assessment of protracted weakness in e.u. area growth dynamics.

let's check in on the first word news with ritika gupta. china has agreed to buy one million tons of u.s. soybeans. after beijing issued more waivers from import tariffs. state owned and private companies purchased about 16 cargoes. the move may help an atmosphere between high-level officials when they meet next week in washington. the u.s. and north korea have agreed to revive nuclear talks in the coming days building on a vague agreement by president trump. when not clear where or the talks will take place, nor exactly what will be on the agenda. news comes as japan and south korea are concerned about a new north korean missile launch. the long-running protests in hong kong are taking an extreme roll onan increasing the economy. the unrest has battered tourism with business to mainland china down 42%. that has devastated the shopping and hotel industry. retail sales have fallen 40% from a year ago and hotel occupancy rates slid 66%. crowds are gathering again as macau starts its golden week, gaining revenue last month touched its lowest l

i am ritika gupta. this is bloomberg. shery: thank you. back to that big exclusive, st.ident jim bullard is making the case for more rate cap. he told us he thinks the fed should consider additional insurance to. -- insurance cuts. >> i think we moved a lot in the last year. if we were sitting here a year ago, we would have been top about the raising rates 2019, not lowering rates. instead, during january and february, we we were taking the interest rate hikes off table and then getting into june, july, august to september, we started talking about reducing rate. this shift in monetary policy in the u.s. has been dramatic over the last year. i would say 125, 135 basis points, not just for 50 basis points that we have had. so one part of what we need to do is take stock of where we are, but i think also, we have to consider additional insurance in the meetings ahead. >> should the fed be more aggressive than the risks to the economy? >> if you buy the argument i just made, we have been pretty aggressive. normally, you would sing with long and variable lags and policy, tha

i'm ritika gupta. this is bloomberg. guy? guy: thank permit a couple things i want to bring you up to speed with. the ceo of boeing's about to start testifying. you are listening to chair wicker there. a couple key questions coming out of this. how is legislation going to change? first in terms of the way aircrafts are certified and the way the faa with boeing and other companies really push each other, are we going to continue to see delegation happening when it comes to key systems? both of these things will have a massive impact on the way aircrafts move forward from here. a one year anniversary of the sad crash of the lien aircraft, 737 max. i want to take you to beirut. hariri, the prime minister, is stepping down after two weeks of violence through the country, a country accustomed to violence. called for the resignation of mr. hariri. that has now happened. you can see some portions of the country celebrating that decision. this is bloomberg. ♪ live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. ch