this time though, iran is here in algeria. also, we have returned him to pre-sanction levels at 3.6 million barrels a day last for asthma. th -- a day for last month. the possibility for a successful meeting is higher this time than in doha. he also said this meeting, which is supposed to be an informal meeting, could actually at anytime, if the ministers find a consensus, transform itself into an extra ordinary opec formal meeting that could result ina decision, or at least, set out the basis for a future decision in thvienna in november. anna: so, the presence of iran could make the difference. what the potential scenarios are coming out of this? summary directions could be taken from here. -- so many directions could be taken from here. >> anything could happen. in fact, the last big production cut we have seen from opec in 2008 happened right here in algeria. in 2008, they decided on a cute supply cut. that is not likely to happen today. it is more likely we will see possible exceptions for countries like iran, iraq, libya

onwill have the latest the meeting in algeria. world's first baby is born combining dna from three people -- a mother, father, and egg donor. but and more on the way, first our top story live from paris. ♪ host: plans are now being made for the funeral of shimon peres, the former israeli president and prime minister. he died earlier this morning at the age of 93. the body of the nobel peace laureate will lie in state before the israeli parliament before a state funeral friday that is due to be attended by world leaders including u.s. president barack obama and the hope. we take a look back now at his life and career. 2014 at nearlyly 91 years of age, shimon perez asired from political life 70 years as israeli statesman, prime minister, and campaigner. as he handed over office to his successor, he left this message as his political testament. up my rightt give to serve my people and my country. and i will continue to help build my country with a deep belief that one day it will no security and peace. born in poland in 1923, shimon

>> hadley gamble reporting there from algeria. the uk foreign minister boris johnson says britain has a lot of work to do before triggering the formal divorce procedure with the european union. once brexit is done, it's done. the country won't let the process drag on. specifically, johnson telling the bbc brexit won't happen before christmas and the uk has got to do a lot of work as we said before triggering this. >>> a new survey from kp&g finds many britain ceos are looking to move outside of britain as a result of brexit. three quarters of the executives polled considered relocating part or all of their businesses. more than half the participants believe britain's ability to conduct business will be hindered once the nation leaves the bloc. >>> in other british political news, jeremy corbyn has been reelected and must work to bring together a rather separated party. a convincing victory for him as the labour leader. >>> we'll talk about the life and legacy of the king, arnold palmer. we'll talk about how he changed the sport he

reasonable what is a oil price for algeria?eria is working on diversifying its economy, which means less reliance on oil. the shortle price in term would be an oil price of around $60. angie: the country's credit rating was cut by movies. that spring and benjamin harvey for you right now. you spoke to president erdogan just before the decision. what did he say? >> that's right, we spoke to him in new york on thursday. he told us he would not care if the rating was downgraded. he was expressing a predominant view in turkey which is that the ratings decision is based too much on intangibles rather than economic fundamentals which they argue are quite strong. >> let's talk about the market reactions. how much is already priced in on this downgrade versus the one we saw previously in the summertime? >> that is the big question. to getrs did have time out of turkey. movies announced the downgrade on july 18. they did have time to get out, august, net flows into turkey were around $900 million. you might see more of a downside on thi

. -- algeria itself proposed a cut in production. they may sign onto something later this year. look at how this has played out in the various groups in the s&p 500 today come energy doing the best today, telecoms doing worse. a downgrade to at&t at ubs. industrials are one of the areas in the green. for augustds orders were unchanged. the estimate was for a decline of 1.5%. we've seen the industrials, durable goods orders desk durable goods -- durable goods companies rising today. ,e're watching the drillers almost bringing together durable goods and oil. we are seeing them rise as well. baker hughes and weatherford international. another company in that semtechals index is death they raised their full-year earnings per share guidance by 5% -- revenue grew 8%. ntas raised their full-year earnings per share guidance by 5%, revenue grew by 8%. oliver: let's check on the first word news this afternoon. mark: the united states is sending 600 additional troops to iraq to help reclaim the city of mosul from islamic state. train and advise iraqi's on the plan to retake the town over t

algeria's energy minister saying don't write oh park -- opec off just yet.t least he is quite positive there could be some kind of move towards a freeze by the end of this year. >> thank you so much. biging about of course the topic for the market, which will be oil. ,tocks close the friday session lower energy producers, apple leading declines, so what about this week? what is su keenan watching for? >> we have three stocks in the spotlight. a fresh round of economic data and a new round of fed speak ahead. let's start with the economic data, investors watching this closely. personal u.s. lending, a big number, rose at a slower pace. also, august durable goods, fellry orders, it likely for a third out of four times. that another indication of the economy and mixed data there. will bee, janet yellen speaking at an economic for him on thursday. a lot of focus on what she might say and some other fed members fedable to speak after the made its announcement that it was not going to raise rates for now. in terms of stocks in the , it's at, wells fargo ceo heads

optimism means we'll get a deal out of algeria? >> caller: . >> reporter: we've heard speculation over the last couple of days whether there would be a deal done at this meeting or not and what i've been told is that really this is the big teaser trailer before the big opec meeting. everyone wants to walk away from here with something in hand, at least some sort of strategy how this will play out. we heard from the iranian oil minister apparently speaking to his own state-run media, essentially playing down expectations for what will happen here but talking about laying the ground work for a future agreement. the saudi minister saying the market hasn't recovered as quickly as he had hoped but optimistic that this will be h consultat much i vr trc consultative meeting. then he was saying today apparently that he was very, you know, he was rather skeptical that an agreement could happen in the next few days and that does play to what we've been hearing from these various delegations. as these meetings get under way we have to wait an

algeria's energy minister said opec is not losing credibility. he says it is like a phoenix rising from the ashes. is hopeful that members will come to some kind of freezeout put agreement by the end of the year. angie: ok, hoping and waiting. thank you so much for that. china sky high house prices may present the latest challenge to the yuan. we have our bloomberg chief economics asia correspondence here. inthe thinking is that again china's top to your house prices, a 25% gain in u.s. dollar terms. u.s. prices have only risen 5%, so if you want value for money or more bank for your buck, you will say i will not buy a flat market, i will put the money into the u.s. instead. when the money puts pressure on the one, it's because it is pouring out of china. that is the thinking behind this. property have seen the curve in china and other nations that have seen this money flow from chinese investors into real estate markets, vancouver, new zealand, australia, canada, so are we going to see more curbs put into place globally and domestically? example

the new started filtering out from algeria.ems unlikely there will be some sort of deal struck to freeze production, let alone a cut. if this goes to the next november meeting. the meeting has to take place tomorrow. it who knows what will happen in the next 24 hours. it banks are falling, led by deutsche bank. i wanted to start with comments from the chief executive. he said the fallout from brexit will weigh on profit for four years. it the negotiating could take four years. it will depress yields. that is a measure of profitability in the airline industry. to remind you, he is a vocal opponent of brexit. theid stick to forecast for fiscal year. big banking story is germany. commerzbank and deutsche bank, they will announce 9000 job cuts. that is according to the overhaul of the blank operation. cost cuts of up to one billion euros. it comes after we reported friday that commerzbank is going to cut thousands of jobs. they will boost profitability. that is according to people familiar with the matter. shares are down by 2% tod

any consensus on capping output would be met on the meeting of algeria. and many are worried about the future of deutsche bank as it tries to deal with a $14 billion fine from the u.s. govovernmento settle mortgage security probes. now, concerns about europe's banking and the strong yen hit shares of exporters and banks like toyota motor and mizuho finances. shars of oil developer inpex and the refiner jx holdings were sold. next all investors will be evaluating janet yellen's congressional testimony and are waiting for the outcome of the oil meeting in algeria. john ladue reporting from the tokyo stock exchange. >>> a new survey says japan has lost some of its competitive edge in the world. the world economic forum think tank has released its global competitive index or cgi. officials at the institute h ha put japan in eighthth placace. down two notches from last yea. ththe three chart t topping economies remained unchanged. switzerland came in first. singapore second and the u.s. was third. as for other asian economies, hong kong ranked ninth. and china

members of the organization of petroleum exporting countries have been meeting in algeria. they decided to limit output to between $32 32.5 and 33 millio barrels a day. how much they produce will be decided at the next opec meeting in november. recent efforts to get an agreement have ended in fail wr failure. officials from saudi arabia, russia and other big oil producers met in april to discuss a possible freeze of production levels but went home without a deal. in june, saudi arabia and iran couldn't narrow their differences on a collective output quota or production control. iran has been opposing a production cap. the country is eager to boost output now that western powers have lifted economic sanctions. >>> well, crude oil prices went up as you know following the news of the opec agreement. the benchmark wti features rose to the $47 level, rising more than 6%, the highest level in nearly three weeks. shares in the energy sector on wall street gained on this and the dow jones industrial average marked a triple-digit gain. the nasdaq rose a quarter of a percent. >>> let

we'll have a report from algeria in a moment.here that meeting has been taking place amongst opec and other members. dollar this morning, it was a little bit stronger yesterday. nothing too significant. the yen softer today. but not helping the nikkei, which is a rare occurrence. the euro stronger but fractionally against the dollar. the pound remains below 130. gold prices for you. at this early hour, they are a bit softer. >> and more on the markets in just a minute. first we have some breaking news. former israeli prime minister, shimon peres, has died at the age of 93. his death comes two weeks after he suffered a stroke. in 1991 he won the nobel peace prize. we'll have more on his life in a bit. >>> switching gears, back to corporate news, wells fargo ceo john stumpf will forfeit about $41 million in unvested equity and temporarily forgo his salary as the company's independent directors launch an investigation into the company's retail banking practices. the bank also said last night that carrie tolsted left the company and

but in algeria, the oil markets should be considering the outlier.ar outspoken comments about the negotiations with militants in recent days. more on that. this is bloomberg. ♪ anna: welcome back. it is 6:30 here in london. ofot of the focus in japan, course the boj meeting. no change of negative interest rates -1%. targeting the yield curve away from monetary stimulus per year. more on david ingles in a moment. without negative on the 10 year yield, it did get to positive territory briefly. the weakness and again has been sustained, still down by 1% against the u.s. dollar as they go towards the fed meeting later on today. and a thought of central-banking sandwich in european time zone. and you see the topix, as well. banking stocks supporting the nikkei on the interest-rate policy. let us get more details on what the boj told us today. david ingles is in tokyo talking us to the details. david? na, i am actually outside the boj, itself. where rates were waiting for quantitative trends, the building right behind me, that is the boj. we are going to g

. >> the live debates start and it is the first day meeting of the unofficial get-together in algeria and they will start to buy corporate bonds here this week. let's talk about the oil flip and some of the markets changed. this has been trading and this is dipping. this is as saudi arabia opens the door to a future deal to limit this. leading declines and we're waiting to hear from mr. corona. in the middle east, it is just under two hours before the start of the trading week. region,ook across the dubai was down. in.s check they say that the lender has higher recruitment and assigned potential candidates for future positions. than sign a successor, threeook beyond it and quarters of cs say that they would have operations in the wake of brexit. more than half the respondents think their ability will be saudi arabia is ofecting funds in the form deposits and they will have a purchase of agreement. donald trump and hillary clinton debate and the first some of it is too close to call. real clear politics says that 198 votes.nton has trump andads bloomberg is broadcasting the debate on t

algeria's energy minister says saudi arabia is prepared to cut production by 500,000 barrels a day. >udi is a very important member of the organization, so saudi is ready to do the maximum for the success of this event. it is ready for any eventuality. it is ready for a freeze, to lower production, to make it a success. haidi: let's dig deeper. good morning. what does a potential saudi cut really signal? >> it signals a policy shift. the saudi's have had a hard line in terms of production. is tied tong, a cut iran doing something. iran has to cut for them to cut. it is a very clever move. sayconspiracy theorists saudi arabia has offered something, but iran doesn't want it, so they can shift the blame to iran. the view of policy does indicate willingness considering the market is in oversupply at the moment. the other thing the saudi arabians did say is that it is unlikely there is a deal that is going to happen on wednesday, so expect a lot more talk about what may or may not happen. this is leading up to the official november meeting. where does the market go from here? >> the market

number two, algeria has never been on the nation terror list. algeria is an ally of the united states and has been for many years. this theory that joe invented in his mind was completely wrong, but it represented a mindset in which you could take any donation to the foundation by any country and to leave a story around it that made it seem very nefarious when it was nothing of the kind. host: let's go to lucy, pennsylvania, republican line. good morning. caller: good morning. i want to say anyone considering voting for hillary should actually walk the clinton cash and as far as the uranium deal, he says she was one vote. we all know that the whole democratic party is corrupt. you can tell that because just from what is going on, nobody will prosecute him for anything. that is all i have to say. hard toell, that is argue when someone says the whole democratic party is correct. i do not know what proof you think you have of that, but i would point out that the fbi director, who decided not to prosecute hillary clinton over any alleged the militan

a live report from algeria coming up. >>> and deutsche banks drop to an all-time low. we'll tell you why. >>> plus, it is debate day. presidential hopefuls hillary clinton and donald trump are preparing to square off on stage tonight. it is monday, september 26, 2016. and "worldwide exchange" begins right now. >>> a very good morning and welcome to "worldwide exchange." i'm

but if we take it from experience, a lot can happen here in algeria.he last production cut we have 2008from opec in 2004 and fortified it right here in algeria. a big production cut is unlikely this time, but some are hoping it will be some kind of production ceiling, possibly some exemption for libya, iraq, and nigeria, the have to increase production a bit more. guy: it looks like we have a great week of coverage coming up. thank you. we are still joined on set by marilyn watson. one of the things that have come out of the oil trade is gcc companies have been selling their treasuries. as part of this chart on the screen here, this big drop-down, partly driven by the well, what is the significance of this almost reversed qe? > >> that is right. we have seen huge selling off of these assets in the gulf states, and from the chinese, and japanese as well. it does have an impact. it makes a lot more volatility. despite the lack of risk premiums in the long end, we are struggling to find value in the long end. we prefer the short end of the curve in u.s. t

the odds are slightly more in favor and in fact, if we look at the past decision, it seems that algerialand of surprise, because the last two big production cuts that we so from opec in 2004 and 2008 were decided right here in algeria. francine: caroline, think it's a much. let's switch votes -- less which focus. -- let us switch focus. guesthave got a great this morning to discuss the future of europe, brexit and all things luxury. -- also with us, trevor greetham from royal london asset management. thank you for joining us. overall, this is one of the questions we were asking of trevor, there's always central-bank policy, the brexit, which meets central banks are not doing much in terms of normalizing the interest rate. we have a lot of ceos who are also worried in terms of spending cash they said on it was a difficult when you were ceo -- what was the mood like? when you look at the world economy, they were uncertainties. failing -- have been sailing on top of the waters. it was difficult to decide where to invest. how the consumers were going to not going to another one. most of the

reports from algeria saying opec may call a meeting if members reach a consensus later this month.he secretary-general told the country's state news agency that he is optimistic about the talks . non-opec producer russia will be there -- maybe agreed. london mayor has urged uk prime minister to decide quickly to build a new roadway at the airport. it will show the city is still open for business in the wake of the brexit vote. york. in >> we should announce in the next few weeks the green light to a new runway at galway airport. heathrow has two. around --her issues no public subsidy. there would be jobs growth. may i am saying to theresa is let's get on with it. nejra: the european union's top competition that later is standing by her decision to tax from4 billion in apple. global news, 24 hours a day, powered by 2600 journalists and analysts in more than 120 countries. i am nejra cehic. this is bloomberg. francine: a big week for central banks. the boj kicks off its two day meeting tomorrow split over what kuroda will pull out of his hat. the u.s. rate decision in the fed on wedn

anna: we're looking for game changers, people thought they would come in algeria. been waiting for balance. various deals. one thing we know for sure, a whole history of the markets. often deals do not come about. often deals do not have the water potentially promise. i think the markets are very encouraged by this. >> in the short-term. manus: jane foley thank you very much. anna: let's stay with going on in the markets over the world. oil is the big story, up 3.5% wci as we said. on wci. where we are more in a moment. this is bloomberg. is there ♪ manus: i am manus cranny with the anna edwards. , and francine are off today. anna: we have news coming out with the russians and saudis. lacking in detail. lines coming through. russia and saudi to form a working group to monitor the oil market. that coming to us from interfax. russia and saudi have discussed different options. including a possible output-freeze. saudi and russia took a big step to put the oil market in balance. this is a keyword, putting -- bringing it into balance. russia is ready to join. russia is

number two, algeria has never been on the nation terror list.lgeria is an ally of the united states and has been for many years. this theory that joe invented in his mind was completely wrong, but it represented a mindset in which you could take any donation to the foundation by any country and to leave a story around it that made it seem very nefarious when it was nothing of the kind. host: let's go to lucy, pennsylvania, republican line. good morning. caller: good morning. i want to say anyone considering voting for hillary should actually walk the clinton cash and as far as the uranium deal, he says she was one vote. we all know that the whole democratic party is corrupt. you can tell that because just from what is going on, nobody will prosecute him for anything. that is all i have to say. hard toell, that is argue when someone says the whole democratic party is correct. i do not know what proof you think you have of that, but i would point out that the fbi director, who decided not to prosecute hillary clinton over any alleged the militants

talks, got the algeria oil climbed 60% and again the shorts tank. the i a little bit of an issue.a danger opec could become the boy who cried wolf. not everybody believes that opec is going to do the job when they get together in algeria but as far as credit suisse is concerned, this is starting to work. .ark: time is running out i am going to go for ryan. vonnie: i'm glad you did because it is a fantastic chart that is ary illustrative, and beautiful graphical supply -- display of what is going on between opec and the oil market, however i'm going to go with d ani mark:. the winner is ryan. the gallery has voted ryan. that is it for european market. check out how they finished today. ♪ >> it is noon in the dark, 5:00 p.m. in london, and midnight in hong kong. i am scarlet fu. welcome to "bloomberg markets." from bloomberg world headquarters in new york, we are covering stories from pittsburgh and washington to dublin, or lynn, and aleppo. regaining bonds composure after uncertainty over -- bayer will be buying monsanto, creating one of the world's biggest agrochemical firms. it e

so, at the end of the day in algeria, they don't have to do much.n and talk, they happen have any arguments like they had last time. that might just be supportive of oil price. manus: let us see what they do. all very reminiscent of that road to doha. let us talk about bayer, back on the agenda, ready to make monsanto'tempt to woo boards. anna: the german company increasing. nejra joins with the details. nejra: are they going to be forced? $129 a share offer according to those familiar, comes after bayer made an unsolicited offer back in may of $122, raising it to $125 in july, and last week it can back with a third offer of $137 a share. the latest is 20% above monsanto's closing price on tuesday. it is below what some analysts were saying was needed to actually clinch the deal between 130-135. but if it is successful, this would lead to the biggest deal this year, and the largest ever by a german company. we're talking about $56.5 billion at this offer level. manus: what exactly happens next? i mean, this comes down to what? valuation? breakoff ag

ofk: algeria, 26 or the 20th september, thanks for joining us.to talk about when it comes .o oil and the german company the ceo is leaving, effective today and bloomberg has reported he was involved in those failed merger talks. part of the blame has been laid at the feet of him. this is according to people involved. , theyt shares in linde shot up, almost three points and 9%. this is bloomberg. ♪ vonnie: welcome back to bloomberg markets. i am vonnie quinn in new york and along with mark barton in london. this would be the sportiest car, porsche taking their four-door coupe and achieve a station wagon version, according to people familiar with the matter. we do not know for sure what it will look like, but here is the version they unveiled four years ago, the first wagon ever and it stresses the brands portfolio beyond the sports car. we are joined by bloomberg in frankfurt. of do not tend to think porsche and station wagon in the same sentence. why is porsche doing this? think this is taking a brand to the next step up and expansion plan that f

he said, john, i'd like you to bring me some travel maps of morocco and possibly algeria. and captain mcclay said -- mcrae said why would you need these? he said, well, i want to see where my troops are fighting. but, in fact, he was planning his trip. and when mccrae realized he was serious, there were many people who tried to dissuade him. he flew on one of these huge boeing clippers from miami. after casablanca he flew home, and a similar plane flying to lisbon in portugal had it, made a poor landing, and i think 29 men were killed. so it was a very dangerous scheme. but i think it, it illustrates another aspect of the commander, the role of commander in chief, and that is courage. he recognized that at that moment of the war, particularly after seeing those rabbis, that he really -- just words would not be enough. he went before congress, he gave his a state of the union speech -- his state of the union speech, but he had to actually go out to north africa and meet the commanders in the field of battle. not just patton, not just eisenhower, but mark clark and a host of

algeria and brussels in the next hour. here is what we are watching.are going to talk about karen sees -- currencies. how it could hinder growth in countries like japan and the uk. vonnie: the latest on the oil market. no agreement is expected to be reached. saudi arabia could cut production. poll,bloomberg politics donald trump and hillary clinton are locked in a tight two-way

what happened in all that back and forth negotiating in algeria?>> first, a look back on this day in history. following the collapse of lehman brothers and washington mutual's bankruptcy, the dow jones fell 777 points on monday september 2 29, 2008. let's hope we don't have that again today. i'm sure we won't. more discussion in two minutes. >>> welcome back and good morning. oil prices under a bit of pressure after a rally yesterday sent wti nearly 5% on that surprise news out of algeria has opec will cut production for the first time since 2002008. joining us now is richard mallenson. good morning, richard. >> good morning. >> how much of a game changer is this for the price of oil. explain what this deal will look like. >> i think this is really important news. there are details that need to be confirmed. parts of the market are rightly skeptical given opec's failure over the course of this year, even the last few years to come together and cooperate. this feels important to me. what we're seeing is there will be a cut or a limit on opec output

. >> the risk once again in algeria is that saudis are on board but the russians appear to be on board, but unfortunately, the situation is let down by the iranians and the iraqis. >> i hope not. i've seen some statements attributed to both countries in which they said that they wobbling to come along with that. i think that would be the best way for everybody, not just for them but for also saudi arabia, russia and the other oil producers. >> there is a look at saudi arabia's at this moment. it's at record highs, i believe. >> yes. >> say are they really going to be willing to freeze or to give some supply freeze at this moment when in the run-up to this meeting, out put is still at record highs. there is a dichotomy there. >> i see no dichotomy at all. in defense that if there is an overhaul agreement, then nobody will be losing their market share. the danger for everybody is, let's say, saudi arabia cuts down production, others will take its place in supplying those that are not being supplied by saudi arabia. with their own oil. >> if there is a holistic approach to this and an equ

the deal was reached in algeria. output levels must still be agreed to at an opec meeting in november. low oil prices have been hurting many oil producing countries. >>> news of that opec deal sent energy stocks higher and that led to broader gains here on wall street. the dow gained 110 points >>> u.s. safety regulators have issued a warning about certain samsung washing machines, following reports that some may have exploded. the issue affects top loading machines manufactured until april of this year. samsung says the machines may experience abnormal vibrations. earlier this month, samsung said it would replace 2 million galaxy 7 smartphones because of a battery explosion. >>> shareholders of the miller approved the takeover of anheuser-busch inbev. the new company will control almost a third of the beer global market. >>> today is national coffee day. krispy kreme is offering a free cup and a glazed doughnut to customers. dunkin' donuts is offering 66 cents to mark their 66th anniversary. i'm already on my first

wti 45.19. >> opec ministers are meeting at a conference in algeria but traders saying opec and non-opecinute serious to cut is fading. s joining me now is an oil analyst at barclays. thank you for joining us today. let's talk a little bit about this meeting and the fact we're seeing oil to pare those gains we saw yesterday in trading. there's been a lot of talk of a production freeze. saudi arabia near or at record levels. russia at record lechls. iran ramping up near it's pre-sanction levels. if we get talk of a production freeze does it matter. how much of a difference does it make? >> it doesn't matter, actually, because as you've said all these producers are producing close to record levels. if anything, i would say saudi arabia needs to cut rather than freeze because if they do hold on to their production at 10.7 million barrels a day which is what they are producing at the moment given local demand in saudi is falling, crude burned in the summer is going to fade over the winter they will export a lot more if they were to hold. yes, the short answer is we need a bit more than a fre

perhaps it paves the way for some kind of substantive action come algeria at the end of september this month. still a lot of skeptics remain. including climate. >> join the market and remain extremely skeptical. whether we're going to see any barrels taken off the market as a result of the meeting. this agreement is totally devoid of details. so a freeze wouldn't be a big stretch i think given how well the oil price responds to every single murmur or rumor about looming agreement, why not go ahead and have another meeting. it works very well. >> so a lot to take stock of when you consider that opec are still fighting this battle for market share and the theater for that battle is increasingly being fought over here in the asia pacific region. what is interesting a lot of people are talking about where we stand with the great rebalancing act and when we will see a meaningful equilibrium. telling me it should happen towards the end of this year, possibly early 2017. others are a bit more kept skal and bearish. see a two-year time frame until question see a real balance restored in the oi

followed a preliminary agreement by opec members to limit their daily output in their meeting in algeria, the benchmark crude oil futures stayed strong even one day after the deal. however that sentiment quickly faded as fears about deutsch bank caused ripples across the market, it's shares fell to a railro record low, saying hedge funds withdrew from the lender. many are concerned about how it may affect european banks, bank stocks closed sharply lower as we noticed on u.s. and european forces. >> we are seeing the yen rise again against other currencies, give us an updap on what's going on. >> u.s. currency hit an overnight high against the yen. that's after u.s. second quarter gdp came in a lib stronger than expected. but the green back soon lost steam. you can see there to the lower 101 levels. many traders are buying the yen, which is considered a safer asset in times of market volatility. and we have definitely seen that. and the euro is trading against the dollar and the yen. let's get a quick look also at indexes that are open right now in asia, we're talking about kospi, down 0.

reports from algeria say opec may call an extraordinary meeting if members reach a consensus on strategy later this month. he is optimistic about the upcoming informal talks. russia will also be at the discussion with standing speculation that a deal cap out let may be met. trading started in australia more than an hour late because of problems followed by two further outages after investors were unable to buy and l shares. markets areas braced for the u.s. and bank of japan meetings later this week. global news 24 hours a day powered by our 2600 journalists and analysts in more than 120 countries. this is bloomberg. thank you very much. let us talk central banks. based at light on this week. the bank of japan will kick off its highly anticipated to day meeting tomorrow. chances are marginally in favor that the central bank will not increase stimulus. the u.s. federal reserve decision comes on wednesday. futures are pricing in 20% of a hike. what more can central banks actually due to boost growth? we asked joseph stigler. >> they are trying hard. the fact is there is only a limit to wha

but i think near term much will depend on what ultimately comes out of algeria and whether opec can getagreement on a freeze in output that the russians themselves are prepared to buy into. that will be the next key issue, and that will have significance for where energy revenues are likely to go over the next 12, 18 months. back to you. >> jeff, thank you so much for that. want to get back to u.s. politics. donald trump has spoken out against the violence and anti-police protests in north carolina. this as he campaigned in pennsylvania ahead of the first head to head debate with hillary clinton on monday night. brian moore has the latest from washington. >> reporter: as demonstrators took to the streets of charlotte to decry the killing of an african-american man by police, donald trump was in pennsylvania, voicing his support for law enforcement. >> they are the line separating civilization from chaos. >> reporter: he blamed hillary clinton for helping to stoke inner city unrest and violence by supporting what he called the narrative of cops as a racist force in our society. >> hillar

matthews an peppers in their ped investigation all three were alleged to have used steroids and an algeria report card into and vote for the game of the week. here are the nominees.mi polls close at nine the winner announced it can and join us tomorrow nighte for friday night touchdown as the first guest hosts will be tracy mccool. proud copley alum friday night touchdown tomorrow a story about cell phone use they found that you are likely to adoptptph heart-healthy habits you are guided by a mobile device to improve diet increase stop tobacco and alcohol use those usingac apps or receiving messages were able to increase their activity and lose weightht programs with self-monitoring activities worked best morere adults are smoking marijuana, a attitudes change, a study and lancet psychiatry shows about one third of people believe smoking pot is dangerous down from one half bak say that views change as more states allow medical marijuana and four states have legalized it for recreational use the study found the number of marijuana users increased toe 32 million. over shared with your dog or

informal talks being held wednesday on the sidelines of the international energy forum in algeria.audi arabia said consultations were continuing and that a deal be at the nextly formal opec meeting in november, rather than on wednesday. in a sign of how much those low oil prices have been weighing on rihanna, bonuses and benefits have been cut for the first time. the royal decree said the minister's salary would be decreased by 20%. housing and car allowances for .he council cut by 15% lower ranking civil service will see wage increases suspended and overtime payments and annual leave capped. a reform plan is intended to dependenceeconomies on oil revenue. germany's banking sector has been under pressure this week. shares in deutsche bank continued to plummet, heating a fresh record low this tuesday. the bank denied reports it is seeking state aid to reduce a $14 billion fine in the u.s.. the justice department ordered it to settle allegations of selling mortgage securities. merkel said it's a key part of the german economy but gave no indication that her government would offer any

opec memembers got together in algeria. they decideded to limit output between 32.5 to 33 million barrels a daday. it is to bee decided in novovem at t the next forormal opec mee. recent efforts to reach an agreement have not been successful. officials from saudi arabia, russia, and or big oil producers met to discuss a possible freeze in production levels. but they went home without a deal. and in june saudi arabia and iran couldn't narrow their differences on a collective output quota. iran has been opposing a production cap. it's eager to boost output now that western powers have lifted economic sanctions. and for more on the opec deal, we have nagata in the studio. thanks for coming in today. >> thank you very much. >> this deal took a long time to mend. how did they come to an agreement this round? >> i think firstly saudi arabia definitely needed agreement this time. they had the proposal two days before and to get a consensus. so that -- and also the secondly, iran and arabia and nigeria was to increase the productio

we're all building towards that meeting in algeria in the weeks to come. look at the bond market. a focus on some temporary snap back in bond yield or whether it is something sustainable. we're 1.9% on the yields for the u.s. keeping its head above water. the the 10-year japanese still negative minus 0.03. >> deutsche bank says it won't pay the $14 billion sought by the u.s. justice department to settle an investigation into the sale of mortgage-backed securities. that is more than triple what some analysts estimated. the company said discussions are just beginning and expect they will lead to a lower amount. deutsche bank shares losing more than 6% in afterhours trade. donald trump has dropped a major tax cut for businesses in his presidential proposals. the change will make his plan much less favorable for private equity partners. the republican nominee had out thed the proposal for a 15% tax cut on income from such businesses. meanwhile hirn has been out on the campaign trail for the first time since his stumble on sunday's 9/11 memorial event. she accu

opec members are in an -- opec members are in algeria.et to a man on the ground, yousef gamal el-din. gives a sense about what is happening on the floor. iran given any signal on a deal? -- iran giving any signal on a deal? yuko we are waiting for more delegates -- yousef: we waiting for more delegates to arrive. remarkable,t of saudi arabia grappling with a bunch of deficit, trying to limit the extent that it is burning through its four currency reserves. eventually issuing bonds and cover that shortfall and trying to rein in oil supplies to support prices. then you have iran, they are kind to get back to the precinct since level of production. -- they are trying to get back sanction level of production. this,ical point in all of how massively the supply has changed. the latest you are looking at, libya, russia adding over 800,000 barrels a day in additional supply. that is a part from what we have out there. the key question is going to be whether they reach some sort of understanding that might lead to eight freeze decision here or in

meanwhile, reports from algeria an opec could call extraordinary meeting of members reach a consensusthe secretary-general told the state news agency he is optimistic about the upcoming and formal talks. non opec producer russia will also be at the discussion. a deal to cap output might be agreed upon. australia's stock market was hit by a series of glitches. trading started by more than one hour late because of the problem. that was followed by two further averages. this year's markets are raised for central bank trading this week. e decision to demand more than $14 billion from apple. she tweeted that she might investigate other major u.s. companies. in meets with jack lew washington later today. angela merkel's party and the coalition partner has lost support in berlin. anti-immigration alternative has surged. well, president putin has hailed the victory of his united russia party, after receiving more than half of the votes. his personal popularity remains high, following the annexation of crimea in 2014, despite sanctions pushing the economy into a recession. 60%out was 40%, down

the deal was reached in algeria. low oil prices have been hurting many -- countries. >>> news of that opec deal sent led to broader gains here on wall street. the s&p finished 11 points higher and the nasdaq rose 12. >>> u.s. safety regulators have issued a warning about certain s samsung washing machines following reports that some may have exploded. samsung says the machines may experience abnormal vibrations. early yj month they said they smartphone because of a battery explosion. >>> miller approved the take overof anheuser-busch abev. the new company will control almost a third of the beer market. >>> today is national coffee day. krispy kreme is offering a free cup and a glazed doughnut to dunkin' donuts is offering medium sized could i have for 66 cents and doughnuts will donate a coffee drink for every -- coffee sold. i'm already on my first cup. it's done. what about you? >> i was thinking. i have been doing a lot more than celebrating coffee. i've been worshipping it since i started working this shift. i kn

at the meeting in algeria, opec agreed to cut oil production since the first time since the financial crisis eight years ago. crude oil jumped 5% on the news today. >>> some of our viewers have been complaining about a particular big box store. the good news is, that retailer has been very responsive to the "action news" troubleshooters. here is our troubleshooter, nydia han to explan. >> winter is months away. before we know it, we'll be cranking up the heat. if this happened to you -- >> it was cold. i spent many freezing nights. >> reporter: carol jones bought a heater from home depot. within weeks, it stopped working. she was told the contact the third party vendor. >> two weeks later, it broke again. it kept on breaking and breaking. nobody knew what was the problem. >> reporter: she called home depot, wrote letters and sent faxes. >> i was getting nowhere until i called you guys. >> reporter: after the trouble keepers got involved, she got a new heater. >> you accomplished in a couple weeks what i couldn't do in years. >> reporter: the troubleshooters hear that a lot. >> he did

the drama surrounding the oil output caps comes before the opec meeting later today in algeria, with iran saying it's not willing to limit output production for the time being. there's also the continued concerns over deutsche bank and the plight of its trying to grapple with a gigantic fine from the u.s. government. so a lot of focus on the banking sector as well. but let's have a look at how the nikkei and the topix are kicking off this wednesday, september 28th. the nikkei down 1.23% and the broader topix down 1.19% as well. the nikkei was the benefit of the presidential debate as they sold yen and bought the dollar on the perceived victory of hillary clinton in round one of three debates. that should help beaten down exporters which have been held back by a stubbornly strong yen. also, the energy sector shares were among some of the worst performers overnight on wall street. we'll keep track of those shares here, which have seen a pretty volatile few sessions really as investors keep betting on the outcome of the opec meeting and output caps. however, let's focus on the banking s

officials from oil producing and consumer countries will hold talks in algeria monday on the sidelinesof that meeting opec ministers plan to discuss ways to stabilize oil prices. tuesday, we learn china's industrial profits for august. on friday, officials will release japan's consumer price index and industrial production data, both for last month. on saturday, china's purchasing managers index comes out, a leading indicator of factory activity. >>> every monday we ask specialists to share their perspective on the coming week. in this edition of "expert view" we hear from a senior economist at mitsubishi ufj research and consulting. opec members have tried many times to set limits on production and push up the price of oil. we asked akuta about the likelihood of a deal being worked out at this week's meeting? >> translator: i think it may be difficult for opec members to reach an agreement on a collective output quote. but there's no question all producing countries want the price of crude oil to be higher than it is at the moment.. for that reason, they will be striving hard to insur

there than in mind as we head toward algeria. >> the governor of north carolina has declared a state of emergency and called in the national guard. fatal police the shooting of a black man descended into chaos and violence. fire tear gas. one protester was shot and critically injured. officials say police did not fire the shot. donald trump has detailed his plan to dramatically reduce black on black crime in america saying he would seek to expand the controversial stop and frisk program. a townme -- came during hall meeting. rba governor has made his first public statement. he said he expects inflation to remain low for some time but will pick up as the labor market strengthens. he said it is in the public [inaudible] but says he and his colleagues are not "inflation nutters." have not seen our job is trying to keep inflation always within a tight, narrow range. we have not been what some have called inflation nutters. we recognize some variability is both inevitable and appropriate. has beensident obama trading -- promoting trade and investment between the u.s. and africa. progress