allen york said they only come when i started running 5 and a half years ago a real turning point in my life right i had just gotten off drugs and that's how i got the psychological part straightened out but i do much better when i get moving . used to be a radically different life sleeping in public restrooms and shooting up heroin she'd never know a real home. i was a drug addict on the skids i didn't have any teeth. life was a really really bleak. cartoon i was at rock bottom but then the city of helsinki gave her an apartment it was part of a national program to get people off the streets of the state cities and a few foundations pooled their resources and achieve results. 80 years later the number of long term homeless has dropped by 35 percent. the housing 1st strategy means everyone should have a home of their own even if they're drug addicts or unemployed. getting the housing 1st principle means that homeless people are offered a home 1st. not just an apartment or lodging or a door they can close but a real home. on help me start on our task here is to give people a feeling o

allen. shery: i'm shery ahn in new york. sophie: i'm sophie kamaruddin in hong kong. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering in the next hour. president trump keeps up the pressure on china with a new set of tariffs. the final list of duties may be published in days. wall street clause back after china stabilizes the yuans, maybe cooler heads will divert escalation. central bank decisions. trade uncertainties are accounted for. later in bloomberg technology global link, we will break down disney's earnings. now, let's get you started with a quick check of the markets close tuesday session. some calm returning to the markets. the stocks rising, the dollar studying. the search we saw in treasuries peering back a little bit. the s&p 500 being led higher by tech and financials. every sector of the s&p 500 was in the green, except for energy. oil slumping into bear market with brent falling more than 20% since its april peak. not even the fact we have eight straight weeks of declines in u.s. stockpiles helped debt

allen in sydney. i am shery ahn. in new york. starting this august the central bank will announce a new reference rate at 930 a.m. on the 20th of each month. lenders will be required to reference this new prime rate when saying the prime rate to businesses and households. the goal is for the pboc to lower borrowing costs. the green line to stimulate the demand for new credit and support economic growth. for banks that are hoping to set this new loan prime rate that has expanded. hsbc has not been included in the lineup. paul: let's focus on fixed income now after a lot of rough looking data in bond markets last week. from ubs, thanks for joining us. i want to start with a chart from the bloomberg terminal. it is one of our favorites. we can see they're now $60.3 trillion.$16.3 of negative yielding blondes. to what extent are global bond traders be held hostage by this global gloom narrative now? was certainly something powerful last week. i would say reaching a crescendo. it is more the narrative last week around the yield curve

york. paul: i'm paul allen in sydney. conflicting versions of the latest phone call between u.s. and chinese trade negotiator's. president trump says china called on monday and is desperate for a trade deal, but the editor of china's global times newspaper says trump was exaggerating. to discuss trade headlines coming from the g7 meeting, stephanie miller. an olive branch of sorts, although we have the chinese site offering a conflicting version of events. we have seen this movie before. is this too early to be optimistic? we need to start with the u.s. elections in november of 2020 and work our way backwards from there to figure out when we could possibly come to some sort of agreement between the two countries. so, when taking that piece, it is hard to imagine we would be near to a big resolution between president trump and president xi soon. i think it is good to see this conciliatory back-and-forth but i don't think we are quite there yet. paul: what does it mean for some of these u.s. companies who are deeply entangl

york. paul: i'm paul allen in sydney.68%, almost $14 billion on the back of tax relief and the stock rally in china. joined from hong kong by ping an ceo, lee yuangsiong. thank you very much for joining us today. result, buta good as i mentioned, boosted by a few things, the stockmarket rally, tax breaks, do you need something more to propel you in the second half? yuangsiong: a really good morning to you. thank you. as you rightly pointed out, very happy with our results. it was at 68%. there is a lot of data we disclosed in our results which is the operating profit. the operating profit is a number which is the most stable and has all of these short-term contributions like the tax break and market rally. by 23%.er was up it was a very good performance as well. 90% ofing our operating, the operating profit comes from retail business. retail business, as you know, china is the largest retail market in the world. it has a strong support in earnings, futures. for: what is your outlook customer growth in china? 100 96 millio

york. paul allen in sydney.rtainty over trade could lower world gdp by 6/10 of 1% in 2021. it costs the world economy almost $600 billion. the trade war will also cause more scrutiny of large cross-border m&a in china. deals inl be less mega the second half of the year. joining us from hong kong is david brown. he is the deal theater for the asia-pacific. to the want to turn report you have done. china m&a has declined by aiding the fed the first half of 2019 to 264 billion. that was the biggest decline in the past decade. is this all the fault of the trade war, or are there other factors at play? david: if you look at that headline number, it's an 18% drop in the m&a overall. if you start to look behind that, you see private equities m&a down by a third. then there is the outbound m&a that you referred to. it has dropped by 50%. there is an extraordinary decrease in the outbound m&a. byhas gone back down domestic m&a activity. there has been a focus on the domestic chinese economy. 8% increase of domestic m&a.

this is bloomberg. ♪ >> i'm shery ahn in new york. allen in sydney.hing daybreak australia. a group is scouring the middle east for new partners as rivals raise to sign up with the region's oil producers. then exclusive interview, president and ceo told us what he is looking for in a potential deal. >> we look at the middle east countries but it is still talk. i can't tell you. [laughter] we need crude and we need exploration and some countries. surprise --ome supplies to thailand or the asian market. >> has to do you expect to announce this possible partnership? >> possibly in one or two years or you it's now under study. >> a lot of talk and numbers out there. can you shed some light which is more definitive? to expand our business to mainland china and asia. we have more than 1800 stations. we try to expand this one to asian countries like what we have in malaysia and singapore. we want to expand in china and japan, oman and asian countries. that is why we are listed in the stock market. we passed one big step. we have a similar company already and

i'm shery ahn in new york, alongside paul allen and emily chang. take a look at the top global tech stories of the day. emily: facebook's new digital byrency project being probed investigators in the eu. the proposed libra system may unfairly shut out rivals. toebook previously promised meet with all regulators before launching. youtube is finalizing plans to end targeted ads on videos likely to attract kids after regulators asked whether the company has breached the online privacy act. the ftc reached a settlement but it is not clear if the at move as a result of the deal. youtube maintains the primary site is not for children, that young people should use youtube kids app. cars says it plans to meet in china on track with work shai progressing well. building work on the plant in shanghai is almost complete and the installation of machinery has begun. it is the world's top electric car market and tesla will pay more than $300 billion annually in taxes to make cars there. paul? paul: thanks. xiaomi profits missed estimates as the company fights to

york. paul: i am paul allen in sydney.c's swiss private banking million topay $330 settle an inquiry in belgium. the preliminary agreement must still be approved by a judge next month. hsbc came under investigation after a former tech worker gave details to prosecutors. hsbc settled a similar fine in france. shery: disney hit by falling theme park attendance and the costly flop of a marvel movie. third-quarter profit fell to one dollar.35 -- $1.35 a share. disney saying lower attendance led to reduced profits at domestic theme parks. paul: occidental is selling $13 billion debt to pay for it. occidental received orders that peaked at more than $75 billion, the biggest demand for a debt sale since saudi aramco received more in april. investors are willing to take a risk again despite volatility in global markets. still to come, brent crude slid into bear market territory as the trade war threatened to eclipse -- in the middle east. this is bloomberg. ♪ ♪ from the 5am wakers, to the 6am sleepers. everyone uses their phone di

allen in sydney. hays in: i am kathleen new york.tocks got a lift from the positive news on the trade from as well as on the than expected tumors ending data. su keenan is here to take us through the action. pretty positive day. su: it was pretty much a one-two punch. weaker than expected. consumer spending coming in strong. but take a look at the market snapshot. we had the dollar strengthened at a two-year high. treasuries slipping a bit. a key area of strength in the s&p 500. if we go into the bloomberg, just a little bit more on the gdp data. one of the best quarters for consumer spending since 2003. it helps power the u.s. gdp. ofs is really a story resilience in the u.s. economy. let's go to the big movers. earnings were part of the big story. a lot of strategist point out the earnings component continues to be robust. notice nvidia chip stocks, and you also have halliburton and some of the energy stocks were areas of strength. burlington stores came in with very strong numbers on their off-price merchandise. multiyear-the comp

york. paul: i am paul allen in sydney. surprise outcome in argentinians primary vote has roiled and could have implications further afield. to discuss that with other risks, from alpine macro, chief global strategist chen zhao joins us. let's start with argentina. a very surprising result in that primary. october,ion still in but what is the likely impact on the economy going to be? we have seen profound market reactions. in -- we have been in this emerging-market crisis many times in history. many times these crises have temporary contagion on the major markets, the impact. this will be no different. do not forget argentina has a very small economy. we are talking about gdp the billion.lmost $515 slightly better than half a trillion. outcome of that economic implosion on the rest of the world will be very small. audience to your keep your composure. it is not a big deal at all, even though there could be defaults. the argentine foreign 270rency debt is about $ billion with the economy contracting at 5% a year, there is no

ron allen, nbc news, new york. >> an armed man high jacking a public bus taking 37 people hostage and threatening to set the bus on fire on a bridge in rio de janeiro the standoff ended when authorities shot the suspect >>> just ahead, could you do without your phone all day long? we'll tell you about the largest school in the nation ready to ban them from the classroom. >>> also, the shocking moment a bear braerking in and raiding the fridge two children hiding in the home. >>> and inspiring america. what happens when the world's fastest rapper has one of the fastest interpreters >>> next, we all worry about kids spending too much time on their phones but tonight one school district is taking action here's jo ling kent. >> reporter: just half an hour down the road from apple and google headquarters in the heart of silicon valley, kids are trading screen time for school time >> i love not having my phone, to be honest >> i think lunchtime should be at least allowed to have your phone. >> reporter: beginning this school year, the 1700 students at san mateo high school must lock up thei

we don't give up >> reporter: ron allen, nbc news, new york >>> now to the strange story of the top selling singer walking cross-country who was a rattlesnake, now hospitalized and struggling to walk kenneth gibson has the story >> reporter: grammy nominated musician mike posner being wheeled into the hospital after being hit by a rattlesnake known for hits like "cooler than me." ♪ you think you're cooler than me. >> reporter: and "i took a pill in." ♪ i took a pill in >> reporter: had just walked from kansas into colorado when, according to his twitter, he came across the snake. "i had just crushed 16 miles, i was going for eight more when i got bit by a baby rattlesnake" he wrote that venom is no joke posner was 160 miles into a walk across the entire continent. >> kansas is over here colorado over here >> reporter: as a tribute to his recently deceased father, and also the deejay avici. the singer thanked hospital staff and posted this video of himself struggling to walk >> work through the pain >> reporter: today he urged fans to stay positive and vowed to rebuild with patience and equi

york. paul: i am paul allen. is bracing for a general strike today in what is expected to be the biggest action in decades. the embattled chief executive may comment later after a ninth consecutive weekend of protests. -- weg us in sydney is were seeing pictures of hong kong airport and hearing a call for protesters to paralyze the underground railway system. fortress hill is experiencing disruption. is it risky for protesters, because the argument -- occupy movement fizzled out when it became inconvenience to the people, disrupting airports, is this the same and the best option? good beijing way it all -- could beijing weight it all out? we have got to remember this is not just a replay of the occupy movement. a lot has changed in hong kong in the last five years. what has been remarkable is every time democracy protesters pushed the line that bit further the moderates have come in and not only refused to condemn but support them because they feel the avenue for protest is being cut off one by one and have been

allen in sydney. ahn in newshery york. you're watching "daybreak: australia."ore sales kmart and target and a cloudy economic backdrop are overshadowing results. the ceo told us he is not that concerned. >> are clearly some pressures as we have seen around a bit of a slowdown in economic growth and consumer spending, partly impacted by concerns around house prices. we are seeing stabilization there and once again as we showed in the results, things are not too bad. >> recently said you will no longer be pursuing linus. is a big acquisition still on the agenda? said when i first took over as ceo, the main options we focus on is investing capital in our existing businesses. we have some quite high returning businesses, good return on capital and that is the primary focus. we will be opportunistic from time to time. since we first announce our interest in linus, we have completed the acquisition of the e-commerce business and we have pending oner vote another opportunity. we are quite happy about the investments we have in the pipeline and will continue to invest

york. and on paul allen in sydney. u.k.rime minister boris johnson has taken a controversial step suspending parliament ahead of brexit. still with us is head of the peterson institute, adam posen. he spent three years on the bank of england monetary policy committee as well. take a look at the political side of this. and in someoutrage way, a subversion of democracy. but if you look at it from the --er side, there has been does boris johnson have no choice. but think he has a choice you have put your finger on something. remains no effective majority in parliament. there may be a majority of people that don't want a hard brexit but they are unable to come together on a coherent proposal on how to end it. to agree whether it is jeremy corbyn from labor or whoever has to be the face of it. johnson is taking a page from saying, i'm and just going to be as disruptive as possible and see if the arees aligned against me going to fall apart. a lot of people are spinning about strategy but i think it is that simple. paul: one thin

allen in sydney. kathleen: i'm in new york where it is 6:30 p.m.e going to get right to first word news now with jessica summers. jessica: thanks, kathleen. china has indicated it will not retaliate immediately against the latest u.s. tariffs, saying it is more important to work on removing existing duties. the commerce ministry says china has ample means to strike back at the focus should be how to escalation inr the trade war. it adds that beijing is launching formal representation with washington on the whole issue. a survey suggests most u.s. companies will ignore president trump's order to leave china and will continue to work there. the u.s. china business council says 87% of respondents say they have neither moved nor plan to move operations out of china. the survey was conducted in june before trump tweeted a directive for american companies to start looking for an alternative to china as a production base. tanker sought by the u.s. for alleged smuggling seems to have change course in the mediterranean. it is shown apparently sailing away f

york. paul: i'm paul allen in sydney.en told white house is delaying a decision on licenses for u.s. companies to resume business chinese telco huawei after beijing stopped purchases of u.s. farm goods. tom mackenzie has been watching this. more trade war back and forth. how is china likely to react to this decision? tom: it is not going to go well. it's a reminder that 2 central ingredients in the g20 truth between the presidents has essentially combo. they are not buying u.s. bonds goods. to refrain now going from issuing these licenses, having said that exactly what it would do. there's going to be an impact on huawei itself, particularly its smartphone divisive -- division. it will also be an impact on intel, telecom, and micron, which depend on the purchases by huawei. pain on both sides and complicating the trade tensions between these sides. to goect the negotiators to washington and continue the talks. this is just another hurdle. shery: really interesting this week has been the focus on the yuan. it usually would

york. paul: i am paul allen in sydney. capacity used by global sportswear brands is lying idle. the exodus is making factories offer discounts to companies to use their dormant production lines. factories are under an pressure. shery: royal dutch shell is being sued in australia over tax avoidance. the u.k. guardian newspaper says the taxation office has been finding shells level subsidiary for six years for the project off the northwest coach. the bill is estimated at but her mother million u.s. dollars. -- at 500 million u.s. dollars, and 1.5 billion in tax inductions. thailand plans to create a southeast asian electricity super grid and want to be the power trading hub at the center. bangkok is proposing to triple the amount of power from hydro projects in laos and resell what it does not need to the rest of the region. thailand has been pursuing the idea for 20 years, but has struggled to achieve enough government coronation regionally. shery: asian stocks in government bonds down across the board as we continue to see

york. paul: i am paul allen in sydney. the trade dispute between seoul and tokyo rumbles on.orean prime minister is urging japan to correct its decision to curb exports, saying it is an economic attack against seoul. joining us is the korea economic institute senior director. thank you for joining us. a very curious situation. we had japan's economy minister on friday saying none of this is retaliation for the south korean court decision on compensation for forced labor victims during the colonial era which was 70 aars ago, but is that credible statement? it is hard to see this as anything else. >> what we look at the announcement with restrictions on three chemicals that south korea needs for semiconductors and displays, you had this issue tied in right away. it was in the press release. if you listen to japanese government officials, they are constantly saying how they have lost trust in south korea but they don't provide any other real rationale other than this vague reference that five times goods went to south korea. it is difficult to see it is about anything else. term

york. paul: i'm paul allen in sydney.when and if military easing will begin as the economy slows. the one-year loan prime rate launching at just a few basis points lower than previous benchmarks. analysts wonder when the biggest stimulus may come. asian economyur managing editor, malcolm scott. the temptation is to look at the rate through the lens of stimulus. if we look at how it was said yesterday, 4.24? >> 4.25. paul: to what degree was that easing? it isis for new loans and about 10 basis points lower than the traditional benchmark we are used to in china, the one-year lending rate. than the previous lpr, which existed but it wasn't a feature like it is now. this monetary easing is proud a week -- probably monetary tinkering. the lpr is attached to policy , the from the pboc one-year mlf rate, the rate of which the central bank lends other banks. if we see a reduction in the mlf rate, that would signal that the lowerl bank wants borrowing costs pumping through the economy. so far, that has been restrained. they don't

york. paul: and i'm paul allen in sydney, and you are watching "daybreak: australia."ng trade war between washington and beijing boosts fears on the health of the global economy and keeps economy investors on edge. james bond hill joins us now. what energy investors are going to be watching this week? james: first on the docket will be saudi aramco's first ever earnings. saudi arabia's behemoth will be interesting as to how they are performing, and it should get some insight there. one of the world's most profitable companies. alsong that aside, we will be looking at the u.s. inventories data. the last week showed crude supplies rising for the first time in quite some time. there will be keen to focus on whether that trend continues. another thing investors will be keenly focused on is the trade war, of course. we have some chinese factory data that should give interesting insight into how the chinese economy is performing amid those trade tensions. shery: what are we expecting to see in these indicators, and how much has the trade war weight on commodities -- weighed

york. paul: and i am paul allen in sydney. let's go over to sophie.hie: a severe tropical storm is said to make landfall on thursday, and japan airlines has canceled flights, affecting more than 4000 passengers. it is considering calling off international services, as well, as several rail operators have halted train service. been stopped.ve and turning to bond markets, we will be waiting for a key from the doj, hinting yields will drop lower below the targeted range. down -30 basis boj's before the doj -- meeting. shery: the tariff delays of president trump seem to be short-lived. it is said that they will not meet beijing halfway. remain, withsues the officials saying to stick to plan talks in washington next month. editor,d to our senior and we continue to see president trump tweeting on these trade negotiations, saying first that the u.s. has been winning the trade war. "we are winning big time against about theso talking american consumer being fine with or without the september date when it comes to those tariffs, eventually linking those tariff

york. paul: i am paul allen in sydney. deal, cbs agreed to merge with file on -- viacom. the deal unites the most-watched u.s. broadcast network with the parent of paramount pictures. let's go to chris palmeri. they first proposed this combination in 2016. what tickets along? -- took it so long? chris: management. jerry redstone had a couple of strong ceo's at these companies who both of them had their own agendas and visions for the company. work themwhile to both out. and sort of what was the price of this and who was better off? there are still some people who don't think cbs should be tied in with the slower growing cable tv channels. mario seems to be legally challenging the merger. what is this about? chris: is viacom voting shares were trading at a premium to the other shares, and they have taken a hit of 10% since the deal came out. paul: so what does this mean for netflix and the competition in video streaming? chris: we are seeing the emergence of another giant media company. we saw at&t buy time warner. everyone

york. paul: i'm paul allen in sydney.ng have been called a leaderless, but it does not mean they have not been highly organized. shelley vandross has been investigating how technology has been crucial to the cause. tell us what you have found. week, how there last the big airport protest happened and how people really swarmed the airport and took it down. this highly coordinated, very interesting network of people are using discussion forums like organize telegram to these protests, run supplies to different areas, create marketing, and promotional material. quite a big machine that exists, even though there is no one big leader leading the entire protest movement. paul: how is this different to the 2014 occupy protests in hong kong? >> in the 2014 occupy protests, use of people physically occupy the central business district. people had to be there 24 hours losingr risk of momentum. this time, all sorts of different groups organized if in activities every day where people can come and go as they please. it allows the mov

friday night, andrew desiderio, congressional reporter for "politico," a rare night in new york, and jonathan allen, in washington, nbc news national political reporter, gentlemen, good evening, and welcome to you both. andrew, in pelosi's figuring, no one envies her, this role, or her overall job, by the way, ask john boehner, it is said she is also protecting some of her flock. why would that be? >> opening an impeachment, it would unlock budgetary measures to hire new lawyers and the white house general counsel's office and would need more staffing for impeachment inquiry. the problem with putting that to a floor vote, pelosi's biggest job is maintaining her majority, right, and most of those districts that flipped from red to blue in the past mid-term elections are some of the most moderate democrats in congress. that would be a very politically perilous vote for them to take. pelosi does not want to put them in that position right now. and she probably doesn't want to put them in that position at all especially as we get closer to 2020 but the issue again the majority of that 2018 number come

york. paul: i'm paul allen in sydney.have battled protesters in several districts across the city on the 10th straight weekend of anti-china demonstrations. they fired tear gas and rubber bullets to clear streets and subway stations, while some protesters threw bricks and a petrol bomb. chief nor the asian correspondent stephen engle is outside headquarters. there does not seem to be showing any sides -- signs of abating, does it? was the 10th straight weekend of unrest on the streets of hong kong. this monday morning, people are waking up wondering how their morning commute is going to go? so far, pretty smooth from what i can see. last night, battles being held across the city in many different districts. it seems as though the police have -- are hitting harder, the harder they hit, the protesters say the tougher their resolve becomes. yesterday, and over the weekend, there was really only one official protest approved by the police at victoria park. but then the protesters are saying at least that we will not be announ

allen in sydney. shery: and i am shery ahn in new york. let's get a check of the headlines.achs trading division is planning its biggest hire spree in years with the entire effort focused on coders. the bank wants more than 100 engineers for tech recommended votes on the tech floor. and they plan to raise rivals in london. wall street is seeing a dramatic focus on deck force work flows as automation is alter the way it done. aul: wall street reports a 17% drop in full year pretax pros. the airline says it will recover next year, lifted by expansion. qantas he had said it is planning a buy back of almost 18 million shorts. shery: markets open at the top of the mark. here is sofi. >> futures are pointing to gains. that is looking stead around the mid point of the row sent range. this is the count down to the jackson hole conference with the jury fill out on whether powell will hint at more rate cuts. more signs of waning and tights, such as germany's lackluster sale of the first 30-year bond that pays nothing. it is earnings bonanza in australia today. as paul noted, qantas re

york. paul: i am paul allen in sydney. at the trade were between the u.s. escalates, technology continues to be one of the most impacted sectors. despite tim cook's relationship with president trump, that includes apple. steve wozniak spoke exclusively earlier to bloomberg technology. isif it manufactured more efficiently in oregon, i would buy it in oregon. why do we establish orders for countries? politicians want their own domain to be important. i am more into sharing. cooperated ways to and reach agreements that way. it will have an advantage in the balance of trade. >> you mentioned competition. that word has come up two or three times in your answer and that leads me to wonder if competition is significantly more fierce this time around and if that is driving the trade. are you worried about competition from samsung or huawei encroaching on some of the big market sharers. >> i have thought about that. you know, i do not say there is to logical rule that comes one answer for all. i happen to be more against competition. we are taught from the time we

york. paul: i'm paul allen in sydney. you are watching "daybreak australia."ck check of what to watch in the markets this morning. sophie: here we are with the offshore yuan, just trading above that 7.09 handle. ame dovish fed commentary, wonk with that we data we got from germany that could show signs of a recession for that it, and we have seen this adding ton the yuan growth worries. we saw the onshore rates fall to a much 2008 low. take a look at what is going on with this chart. that's what i want to show you right now. more copper weakness is anticipated going forward, given factors like investors' positioning. jumping to the next terminal, which indicates what is going on with chinese stocks, which have is theall as well, this shanghai composite and we are seeing it hit its head against a resistance level that may see rebounds come under threat. the index has risen 3% in the past two weeks, but we are seeing that somewhat flat line. shery: thank you for that. abouttalk a little bit the outlook out there. see weakue to manufacturing numbers, if it's here

york. kevin: here is craig allen, president of the u.s. china trade council. you have had a busy morning.resident trump has been lambasting not just president xi but also fed chair jay powell in the chinese say they will add additional tariffs. what is going on? craig: it should be no surprise the chinese are going to add additional tariffs. their strategy has been tit-for-tat, to respond in kind and this is a continuation of that trend. nobody should have been surprised by the chinese actions. appears the white house not to have anticipated this result. inin: is the expectation now the markets that essentially a long-term type of trade deal with china is completely off the table, that some type of save face deal is what the u.s. and china will come to, and if so, when? theg: there are problems on trade side, on the technology tried, -- decide, on the security side. the trade issues are the easiest to address. hopefully there will be a response or an agreement on the trade side within the foreseeable future. president xi and president trump will be sitting down together in november in san

allen. shery: i'm shery ahn in new york. selina: i'm selina wang in beijing.n to asia's major market open. ♪ paul: here are the top stories we are covering in the next hour. the g7 wraps with no traditional communique. just a declaration that calls for fair and open fair global trade. the $44 billion hit. apple's long reliance

allen. shery: i'm shery ahn in new york. sophie: i'm sophie kamaruddin in hong kong.to asia's major market open. ♪ paul: here are the top stories we are covering in the next hour. president trump keeps up the pressure on china with a new set of tariffs. the final list of duties may be published in days. wall street clause back after china stabilizes the yuans, maybe cooler headsil

york. inl: and i'm tall allen sydney. you are watching "daybreak australia."e risk is back on the table after we saw u.s. raise losses on the week. nikkei futures traded out of chicago currently weaker, but let's see what happens when things are switched. around the rest of the region, things are looking positive. in australia, futures pointing higher, but we will have to watch out for today earnings from japan. the cardata later and account, japanese gdp while in australia, we will have the reserve bank governor testifying to parliament and we will get the statement for monetary policy as well, so plenty to look out for their as well. for now, let's get more on what we should be watching in trading in asia. adam: let's talk about this latest development on huawei. has that threatened to dampen some of the latest sentiment we have seen? >> i think it has forced them again to think of where we are at in terms of the trade war. positive,really good sentiment-driven session. asia had a good run yesterday with the stronger-than-expected axing of the yuan. that wil

after more than five years, new york's police commissioner has fired the officer seen on video using a banned chokehold during garner's deadly arrest here's nbc's ron allen >> reporter: five years after this video showed officer daniel pantaleo arresting eric garner for selling untaxed cigarettes on a new york street new york's police commissioner fired pantaleo >> it's clear that daniel pantaleo can no longer effectively serve as a police officer. >> reporter: for the family, a small victory. >> commissioner o'neil, thank you for doing the right thing. i sincerely thank you for firing the officer. >> reporter: pantaleo, 34, 13 years on the force, had been restricted to desk duty since the incident a local grand jury and prosecutors chose not to file charges. but a judge recently found enough evidence that pantaleo used a choke hold to say he should be fired. >> what i want the residents of new york city to take from this is that there is accountability within the new york city police department it is fair and impartial >> reporter: the police union accused the commissioner of bowing to publish pressure >> our police officers are in distress, because the

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york's police commissioner fired the officer at the center of the eric garner case more than five years after his death became a rallying cry for the black lives matter movement. here's nbc's ron allen >> reporter: five years after the video showed daniel pantaleo arresting eric garner for selling untaxed cigarettes on a new york street -- >> i can't breathe i can't breathe. >> reporter: today the police commissioner fired pantaleo for using a choke hold, a violation of nypd rules. >> it's clear that daniel pantaleo can no longer serve as a new york city police officer >> reporter: for garner's family a small victory. >> commissioner o'neal, i thank you for doing the right thing. i truly thank you for firing the officer. >> reporter: pantaleo, 34, 13 years on the force had been restricted to desk duty since the 2014 incident. federal prosecutors chose not to file charges but a judge found enough evidence he used a choke hold to say he should be fired >> what i want the residents of the new york city to take that there is accountability within the new york city police department it is fair and impartial >> reporter: the police union accused the commissioner of bowing to pressure >> o

york. sydney.am paul allen in the decision by the u.s.reasury department to label china as a currency manipulator is like you to send markets into deeper chaos. is likelyeynolds -- to send markets into deeper chaos. garfield reynolds. garfield: maybe 7.2 is next up. it has already gone to a fresh intraday high, the option run in the-- off renminbi. we are not likely to see the same sorts of thanks. a lot of pressure being built up. what is lost a little bit in the labeling of the currency manipulation and so on is the reason the yuan is falling is because the fundamentals are saying it should fall. if anything, in fact, what the u.s. is accusing china of and what it worried about back in june was that china would manipulate its currency by no longer preventing it from falling. so in fact, the u.s. is complaining that china is letting its currency float, as it were. is because china is not acting as a buffer anymore, right? it is allowing the yuan to fall. the reason we saw china would not allow that to happen, that seven would be the line

allen in sydney. shery: i'm shery ahn in new york where it's 6:30 p.m. go to first word news with jessica summers. jessica: china has lost its status as america's top foreign predator as japan became the leading holder at treasuries. tokyo increased its stash of u.s. bonds, bills, and knows point $22 million to one $1 trillion, the highest level in 2.5 years and a fraction ahead of beijing's holdings in june. the last time japan was america's largest foreign predator was may 2017. the world's largest shipping line has added to its gloomy forecasts. they released earnings along trade.warning about shares jumped as prophets did meet expectation but then fell as maersk went on to say the trade war could remove of 2.5% of global demand this year and next. jet of-weekl to a low after dovish comments from an ecb policymaker. a two-week low. that's after a governing councilmember reportedly said significant easing is needed next month. he said to have added it is better to overshoot than undershoot on monetary policy. the iranian oil tanker detained by the u.k.

allen in sydney. shery: i'm shery ahn in new york where it is 6:30 p.m.a: policymakers feud rate cuts as insurance against weak inflation and the risk of a slump in investment triggered by a trade war according to fed minutes. they will do to counter the effects of uncertainty and slowing global growth thsince 2p says it's not enough and is calling for a bigger cut. chosen one. somebody had to do it, so i'm taking on china. i'm taking on china on trade, and you know what? we are winning. a: unrest in hong kong is set to inflict more damage on the economy with housing rates seen in decline. a complete reversal from the 3% gain seen in a previous report. this is the protest began in june. president trump is lashing out at automakers who are pushing back at his plan to weaken fuel efficiency requirements. he says his proposal would lower car prices and raised safety levels. he added there would be little impact on the environment and dismissed his critics as foolish and politically correct. trump wants to pull back on efficiency regulations introduced under

allen in sydney. and from bloomberg headquarters in new york, i am shery ahn. anchor: welcome to "bloomberg: asia."stories thursday, dark clouds over the global economy, the world possibly heading for a serious downturn. trade talks in washington,

allen in sydney. shery: from bloomberg's level headquarters in new york, i am shery ahn.ie kamaruddin in hong kong. welcome to daybreak asia. this our top stories monday. talking trade president trump says negotiations with china are making progress, but he is still not ready to make a deal. protests continue in hong kong amid warnings of widening fallout

allen in sydney. shery: and i am shery ahn at bloomberg's headquarters in new york.a: i am selina wang in beijing. we are counting down to new york's's market open. >> normal hong kong pressures resume, but tension mounts hong kong is at a critical juncture. paul:

allen in sydney. shery: i am shery ahn in new york. a quick check of futures trading at the moment.eing upside for futures in sydney, up 2/10 of 1%. kiwi stocks are gaining half a percent. nikkei futures unchanged but this coming after two sessions of gains. the japanese yen holding about 106 level after the first weekly drop in a month. we saw asian stocks jumping the most in a month. more risk on sentiment spread across the market. as we continue to see some more positive sentiment on trade. we had u.s. stocks treasury yields gaining ground. let's see how that translates to the asian session. paul: thanks. it does look like another strong day for asian markets. we have that positive news on trade and speculation as well of central bank stimulus. andreea is here. what are you seeing from emerging-market currencies? they like to come under a bit more pressure with the dollar continuing to surge. andreea: i think that is going to be the focus today. we are just basically reacting to one headline. after another. there will be some support, i guess, from this potential stimulus of germ

york. paul: i am paul allen in sydney. the u.s. matches up tariffs in inna -- ratchets up tariffs china.et a sense of how the big banks are handling pressure. of the slowdown in china. we are joined in hong kong now by the head of asia pacific bank ratings, jonathan corner. us.k you for joining i want to start right away with this chart on the bloomberg terminal. shows how profitability of chinese banks has been declining. in this environment of a trade were, what are your expectations this week? we ran a hypothetical scenario whereby the growth in china would slowdown quite significantly to around about 3.6%. that was in 2020. based on those expectations -- -- the region. especially those who are most exposed to china, be that directly or indirectly. bearishat is a fairly model you ran, seeing growth crunch down to 3.6%, so what does it indicate in terms of how well chinese banks and others are prepared to handle any stress? only need to look back at the pd is he's financial stability report stress test you did last year. based on a scenario where economic growth was modeled to fall to

. >> jonathan allen, i have a piece of reporting from "the new york times" to read you about obama/biden, and this went up tonight. "while initially skeptical of mr. biden's decision to run, mr. obama driven by affection and loyalty has been more active in advising his campaign than previously known, going so far as to request a briefing from the campaign before his friend officially joined the fray, according to people close to both men. john, do you buy it, and to what end? >> well, look, the fact that this is out there at this point and that folks talked about the interaction between these two men suggests to me that there was some interest in having it known that mr. obama was not so keen on the idea that mr. biden run in the first place, but also that he recognizes that vice president biden is, in fact, still the front-runner here and that it's a possibility that vice president biden will, in fact, be the democratic nominee, and that's still kind of playing both sides of this. president obama did not set up vice president biden to be his success or. when hillary clinton wanted to mo

. >> ron allen on the ground for us in philadelphia ron, thank you >>> there is more breaking news late today the new york medical examiner ruled that accused sex trafficker jeffrey epstein took his own life that highly anticipated report putting to rest one key question, but leaving many more unanswered nbc's stephanie gosk explains. >> reporter: after a week ripe with speculation, an official cause of death from new york city's medical examiner, suicide by hanging, knocking down conspiracy theories that accused sex trafficker jeffrey epstein may have been the victim of foul play multiple sources briefed on the case say epstein hanged himself with a bed sheet the autopsy sensitive, his legal team brought in their own medical examiner to observe. there are still unanswered questions, among them why it appears epstein hadn't been checked for hours according to an administration official investigators want to know if guards were asleep on the job. they're comparing security video with the logbooks. last month epstein was found injured in his cell. his cell mate, a former police officer facing unrelated murd