you heard about hitachi and abb. $1.5 billiong deal to buy back bristol-myers over-the-counter unit as it tries to globalize. shares lower. japan on track for its best two-day gain since lifting in 2014 on news the margins could improve. 63% over today and friday's session. this company here manufactures and sells use kitchen equipment and missed reporting deadline taking a loss of the last couple sessions over 1.8 billion u.s. dollars and is on the tokyo exchange. a lot of movement in a japanese sessions today. nejra: juliette saly, thank you. to bloomberg first word news with annabel. annabel: thank you. president trump's shakeup of the staff is continuing. ethicsnke he is facing investigations will step down. the u.s. president said to be considering a replacement for wilbur ross. shutdowne government later this week leading politicians on both sides to say it is up to president trump to resolve the issue. >> president trump should understand there are not the vote for the wall and the house or the senate. he is n

abb is the white line for the last five years.areholders in the next five years? ambition to after that large transformation phase that ends now with the transfer of power power grid business to hitachi. we have a super exciting portfolio going forward. abb is well-positioned for digital industries. the four businesses we are shaping for the portfolio in the future are all number one or two. if you look at the way the industry is changing, it relies asian is coming in -- digitalization is coming in. we are ideally positioned to go for growth and the businesses we maintain our strong businesses that are already growing today or entering the growth phase. some of them are late cycle businesses like our automation business, tied to mining. that had a dampening effect. the early cycle businesses like robotics is already growing significantly. our ambition is to accelerate the growth momentum, make sure we get the impact we committed yesterday through the simplification of our business at the same time of the divestiture. anna: good lu

and thelook at the abb, online retailer as a count the sales growth.nline european closing retailers. how will they respond this morning? this is bloomberg. ♪ from the open,es let's get your stocks to watch from around the newsroom. we are watching abb after the hitachi deal. stephen is looking at deutsche bank. our equities team is covering asos. anne-marie focusing on this as well. was it a good news story are a story? story -- news >> that is a question i am asking myself. the person came in saying that anari firm is considering investment bank, which will help the share price today. but the cfo deutsche bank sent us comments yesterday saying he is muted on revenue. it gave us a cautious outlook and that is negative for the shares today, in my opinion. het: on the other hand, did not tell you he would meet his cost-cutting targets and make up all your profit? steven: yes, that is correct. that was priced in. no one was doubting that. i am curious to see what will happen. matt: i incurious as well. ?hat is the story on asos very bad moves -- news fro

abb sells its power division to japan's hitachi in $11 billion spinoff for restructuring. sweel' speak to abb's ceo later on this morning. >>> well, our top story today asos has downgraded its annual growth forecast from margins and sales claiming weaker than expected trades in november. the online retailer said sales will be 10% lower than previous forecastst citing unseasonably warm weather and increased competition. asos's online rifles have also been plunging as well. it's not just asos shares that were down 40%, you have zalando down 15%, boohoo down 11%. next down 4% boohoo put out a statement saying that their trading activity has been in line with expectations and remains strong so, thereby, trying counter some of the price action that we've seen today heavy moves across the retail sector in the u.k. this morning. i want to bring in stacey widlitz. good morning to you, stacey. are you surprised at, one, the extent of the profit warning that asos delivers this morning and the extent of the move that we're seeing in the share price, down almost 40%? >> yes good morni

abb will become more focused on robotics.rts it will cut thousands of jobs next year. the carmaker will outline measures next month. investors saying emerging asian stocks will be the best-performing asset class next year according to a new poll from citigroup aired that preference -- citigroup. the asian stocks beat out u.s. equities as the most favored market. that is the business flash. thank you.ncine: oil holding near $51 a barrel. rights ifrategist anyone doubted opec is in charge of the organization, the last 10 days have proved it. for an sad result organization that once made government tremble. this is just the nature of the beast. you also have that oil from the u.s. >> you do. you also have an organization that produces about one third of world oil. this is an organization that prides itself on being there to look after the interests of its members. when at last met, ministers sat down in a meeting, locked in a room, no press, trying to agree what they were going to do for 2019. at the end, they had no agreement.

a japanese conglomerate is buying abb.--l turn hitachi abb will focus on robotics and automation. standard chartered has a deal to sacco -- separate private equity units, ending a two-year effort. the majority is private equity and it will transfer to london's intermediate capital group. next to ithe charts is a good one. this is bloomberg. ♪ vonnie: it is time for our global battle of the charts. you can see these on the bloomberg on gtv . taylor: last week we saw a record outflows out of equity, mutual funds, and etf. near record outflows out of bonds at $13 billion. the money is going into cash at $81 billion of inflows according to data. money market funds are the best performance everyone but past -- cast, up 2%. bond markets off in a more from 2% meeting cash is king. vonnie: you can see that chart at gtb dots . -- gtv . >> jay powell, are you making a -- mistake by raising rates? it is been pointed out that it is. here is where the balance sheet is. it started up and slowly started to go down and it has

the call option hitachi has come a predefined option that abb has come all of these things will scales the what happens the stock prices over the next couple of years. ,ne of the big things for abb they have had activist investors trying to get them out of this. investors will cheer this regardless. >> more bad news for facebook. the district of columbia attorney general has just filed the socialgainst media giant for granting political data from cambridge analytic a access to users data without permission. jurisdiction of relatively small number of users, do we think this could be the beginning? >> absolutely. the company is being scrutinized by the irish data protection lawmakers. in the eu they are scrutinized with attorney around the country. if more of them pipe up to bring charges against facebook it could be a difficult situation to be in. sheryl sandberg this year showed up at the meeting of the attorneys general to give a talk about facebook and privacy. on howdrumbeat of news facebook has been floating what they promise consumers. it has been too little too late. this company

>> abb shareholders like this because they have wanted to get rid of this business for a while.f you consider the running cost, acquisition cost, all the costs that will come over the next couple years. on top of that, the option hitachi has a predefined option, all these things are going to start weighing on the way this deal -- what happened to the stock prices over the next couple years. one of the big things for abb -- they have had a knack for investors on their back, so investors will cheer the disposal regardless. >> more bad news for facebook. the district of columbia's attorney general has just filed a lawsuit against the social media giant for granting cambridge analytic access to user data without permission. a relatively small number of users affected. do we think this could just be the beginning? >> absolutely. the company is already being scrutinized by the irish data protection lawmakers in the eu, scrutinized by lots of attorneys general around the country. if more of them height of -- type up to bring charges against facebook it could be a very , difficult posit

today seems slightly more optimist that was japan but it went up for ten or 12 but 18 percent while abbe was in china they did three times more scrambling to get fighters and they had in the previous month on the today basis just to make sure they realized japan was with us they carried out the exercise of japanese destroyers. i was in japan and korea right after the pen's speech on china which you although with the hudson speech he gave and i was surprised at how enthusiastic their response was from corporate executives. and in particular with technology. the trade minister in japan orchestrated the initiative which they were more cautious about in japan so that is pushing for a strategy with the decoupling of that sector invisibly pushing for data reciprocity no chinese participation and to be initiated and there were four so far if you read those statements they are a little vague but talks about data reciprocity and strategic investment protection and with australia japan orchestrated a trilateral agreement that vice president pentz oversaw with the build back and with those equity p

look like he's going to throw it away, rifles abb demarcus robinson, touchdown.s left, rivers finds mike williams for the score, l.a. was down 28-27 so extra point ties it, right? wrong. they decide to go for the win. somebody forgot to cover mike williams. that's the game winning two. 29-28 and a stunner, l.a. clinches the playoff spot with the victory, they are now tied with kansas city our top the afc west. did anybody get the license of the mack truck that ran over the warriors last night? 20-point blowout, and it wasn't that close. steph curry woke up from the nightmare. >> not really. >> evander kane doing his version of tiger woods before san jose hosted dallas, third period tied at one, san jose on the break, give and go, myers scores his second of the name kept -- game, his second straight multi-goal game, joe thorton scores his fifth of the season, sharks hung on to win 3- 2, san jose has won five of their last six games, group hug. if you don't have tickets to the hilltop, you're missing a show. eastern washington, nate renfro picked the pocket better,

. >> tv, play "downton abb." >> and pbs helps everyone discover theirs. anytime, anywhere. pbs.e with you for life. >> "bbc world news" was presented by kcet, los angeles. captioning sponsored by newshour productions, llc woodruff: good evening. i'm judy woodruff. on the newshour tonight: a major week in the russia investigation, as special counsel robert mueller details the level of cooperation from the president's former personaln at and campaign chairman. then, team trump. the president announces hiss. picks fo attorney general, ambassador to the united nations, and chairman of the joint chiefs of staff. plus, "the future of work." how getting a liberal arts degree could help land a job in the tech sector. >> thinking clearly, writing well, working well with other pey,le, understanding divers working in groups... these are skills that are useful

. -- of the big things for abb they have had a knack for investors on their back, so investors will cheernews for facebook. the district of columbia's attorney general has just filed a lawsuit against the social media giant for granting cambridge analytic access to user data without permission. it's a relatively small number of users effect it -- could this just be the beginning? >> absolutely. the company is already being scrutinized by the irish data protection lawmakers in the eu, scrutinized by lots of attorneys general around the country. it could bring charges against facebook, it could be a very difficult position for them to be in. sheryl sandberg earlier this year showed up at the meeting of attorneys general to give a talk about facebook and privacy. about drumbeat of news how facebook has been flouting what they have promised consumers. it has been a little bit -- too little, too late, and this company is under the microscope now. ♪ qualcomm.hina, now another legal victory in germany in its patent fight against apple. a court in munich says qualcomm can block sales of some ipho

haidi: swiss engineering company abb is near the sale of 80% of its power grid.on. they make power transformers, transmission systems and energy storage and would lead them -- leave them focus on automation. the deal could be announced monday. shery: qatar petroleum is buying stakes in three offshore mexican oil plots as they moved to a global position after leaving opec. the fields will produce 90 billion barrels of oil a day and hold 2 billion in reserve. qatar is already working on another offshore field and is waiting on approval from mexican authorities. taking a look at the state of trading with asian markets, a tepid start with monday trading, week lead from wall street, u.s. stocks the lowest since april. if trading days left, seeing weakness for australian -- a few trading start -- new zealand also off half a percent. nikkei futures looking pretty flat open, slightly to the downside getting into the start of trading in tokyo. will be speaking to the chief asean economists. this is bloomberg. ♪ haidi: good morning. i'm haidi stroud-watts in sydney where m

the deal values at $11 billion and abb plans to return $7.8 billion of the proceeds to shareholders.ve? there -- shareholders have liked this because they wanted to get rid of this business for a while. the deal is on the defensive side, all of the costs i am going to come for the next couple years will come to a close. has, alloption hitachi of this things are going to wear -- weigh on the way this fields and what happens to the stock prices. things -- investors will cheer the disposal regardless. there is bad news for facebook. the district of columbia attorney general has filed a lawsuit against the social media giant for granting user data without permission. this could be the beginning. >> absolutely. the company is being scrutinized by the irish state of protection lawmakers in the eu. they are being scrutinized by lots of the train center. more than just bring charges against facebook. it could be a difficult position for them to be in. sheryl sandberg showed up at the meeting of attorneys general to give a talk about facebook and privacy, but a drumbeat of the news of how fac

hitachi has agreed to buy abb's power grid business for up to $7 billion according to nikkei.as company to supply equipment for japan's energy grid. the companies say they are in talks. that is your bloomberg business flash. david: thank you so much. bloomberg daybreak is taking a closer look at climate change and its relation or possible relation to extreme weather events. incurred by costs hurricanes and we will look at water scarcity, but today we are looking at the costs and damages of the deadly wildfires. >> see what has happened here. nobody would've thought this could happen. alix: one of the deadliest wildfires in california's history, 85 dead, 153,000 acres burned. some blame climate change. rising temperatures create kindling for fire. not everyone agrees. >> this is not a political issue. this is a management issue. alix: no one wants to pay for it. >> we are tired of giving california hundreds of millions of dollars for their forest fires where they would not have them if they manage their forest. utility company pg&e is at the epicenter of this debate, and on the

we seem hitachi, abb, to be moving into this dealmaking mode as we close 2018.trying to get agendas done before the start of next year. let's get straight to the markets with julia. a goodwe are seeing start to the trading week led by some gains in a japan and also australia today. you have the asian pacific index moving higher with u.s. futures index after that 1.4% drop that we saw over the course of last week. seeing a little bit more positivity coming through today. a little bit is weaker, we have the health care stocks under significant pressure. there were also -- we are also watching a move in currency. move higher the cny against the dollar. it is actually at a three-week low against the dollar. a traitor telling bloomberg it is being sold down by macro funds as a rebalance the gdp number coming through on thursday. that is expect to have risen by a sixth of 1%. let's get you on the ngo markets. looks like we are stepping up the pace as we go to the closing in india? >> yes, we certainly are. today we are looking at the moving up by as much as half a per