haidi: shayne elliott from anz group holdings. coming up, we will be digesting apples results as well. this is bloomberg. ♪ >> european central bank has downshifted for 25 point basis hike. he says it will not be the last. it is clear the central bank is not pausing and future decisions will remain data dependent. >> inflation may still being pushed up by the gradual pass-through of past energy cost increases. in services especially, it is still being pushed higher, also by pent-up demand from the reopening of the economy. >> china has ordered state owned enterprises to run security checks when hiring coming firms. they should include specific clauses on information protection security. tensions linger with the united states. taiwan's intelligence chief has warned that president xi's to surround himself with like-minded officials increases the risk of making a wrong decision. taiwanese change in information with the so-called five eyes spy network. u.s. government agencies are reviewing the role played by goldman sachs in silicon

anz's first half off at met expectations.t 5 billion u.s. dollars, pretty much in line with smits. the ceo warning of a more difficult second half, telling us the bank is buying opportunities in retail mortgages -- pre-much in line with estimates. >> we are through the worst of it. we found the customers eventually behaving better than ever, so they have now moved on. that is an opportunity for us. rishaad: blockbuster result from mcquarrie's trading arm. topping the $5 billion forecast from analysts. the pay final dividend of $4.50 a share. haslinda: still to come, apple's ceo sees india at a tipping point. a closer look next. keep it here with us. this is bloomberg. ♪ we moved out of the city so our little sophie could appreciate nature. but then he got us t-mobile home internet. i was just trying to improve our signal, so some of the trees had to go. i might've taken it a step too far. (chainsaw revs) (tree crashes) (chainsaw continues) (daughter screams) let's pretend for a second that you didn't let down your entire fami

we spoke to the head of research at anz bank in australia.t's a sort of vote of confidence but we have to look at the interest rates, deeply negative... currencies like the lira, we have to look at the foreign exchange reserve. at the end of the day, political stability is a big driver of capital flows so hopefully this will give investors some hopes, particularly foreigners into the currency, but we have to watch how the market reacts. financial markets are closed for public holidays in the us and uk. hong kong reports trade data from april as they recover from extended coded lockdowns. —— covid lockdowns. china saw a contraction in manufacturing activity last month. south korea reports its trade balance for may on thursday morning. key data from the us is expected to show continued job growth. in singapore, the state investor says it has cut compensation for the team that recommended investing in the collapsed crypto exchange ftx. the chairman said although there was no misconduct involved, they are ultimately responsible for the investment

earlier i spoke to anz�*s catherine birch she told told me today's decision by the royal bank of australia. financial markets and most economists are experts in the rba to pause but we think the decision would be a close one. inflation is still far too high but the key safety data shows inflation is coming down and probably was in line or slightly below what the rba forecast and there is economic data that will feed into their decision today. we have just been talking about how the us economy has been impacted by higher interest rate, and particularly the banking sector. how much has australia's economy being adversely affected by the cycle? the banking sector in australia has been very resilient we look across the economic data and see signs of softening but it seems there is a lot of momentum in inflation. the labour market remains tight as well and even though spending, continued spending, is starting ease and business indicators are starting to ease as well we are expecting that momentum will only the slow gradually stopped while we do see gdp growth slowing and being below trend by th

we speak with anz bank. we are asking advisors capital management how they are navigating this environment. this is bloomberg. ♪ is he hailing a ride to the concert hall? no. he's making sure his portfolio and retirement plans work in harmony. they want to adopt a child and build a new home. so they're talking numbers with their merrill adviser. she's not researching her next role. she's learning how to handle market ups and downs without the drama. personalized advice so impressive your money never stops working for you with merrill. a bank of america company. ♪ (upbeat music) ♪ ( ♪♪ ) woah. ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. >> both sides know there needs to be a bipartisan deal, it will be a compromise, i think we will get the debt ceiling race. >> no keel -- no deal gets done until everybody walks away from the table at least once. we are doing this in a global env

we spoke to the head of fx research at anz bank in australia.s a sort of vote of confidence but we have to look at the interest rates, deeply negative... currencies like the lira, we have to look at the foreign exchange reserve. in the short—term, the strong tourist season can boost this. at the end of the day, political stability is a big driver of capital flows so hopefully this will give investors some hopes, particularly foreigners into the currency, but we have to watch how the market reacts. almost three quarters of organisations in india were hit with ransomware attacks last year according to a british cybersecurity firm, which warns of a huge uptick on the previous year. for more, let's go to our india business correspondence. how does india compare to other nations when it comes cyber attacks? it’s it comes cyber attacks? it's much higher _ it comes cyber attacks? it's much higher than _ it comes cyber attacks? it�*s much higher than the global average of 66%. just like you pointed out, around 75% of indian companies have faced ransomwa

joining us is daniel, senior commodity strategist at anz. great to have you.ter, we can start to see in improvement? >> i think so. if all the indications in the first quarter were not that bad. clearly the market is taking a glass half-empty approach to things considering i suppose the tighter monetary policy, the fight to contain inflation has impacted sentiment. china has always been there, certainly for 2023 as the driver for growth. so far we are seeing good signs. domestic travel has been quite strong in the first quarter. there is another leg up for that through the second quarter, which will occur at the same time as we see the opec supply cuts implemented. and other sort of ongoing supply issues which should tighten the market considerably. haidi: commodity plays for china or consumer services travel side as opposed to the resumption of any industrial-strength. >> yes i think so yes. certainly diesel demand in its self will remain muted in china because of the subdued outlook for industrial activity. that is why we are more cautious on the industrial

the head of asia research at anz.'s look at commodities in particular, this chaotic selloff when it comes to crude markets really pricing in these fears of a global recession. >> yes. absolutely right. you get a 7% drop in wti at the open, overshadowed by the 60% drop, but still notable because even if we are seeing those losses pared down around 2%, yes , a reflection of recession fears in the market and this plan by opec-plus to regain control of pricing does not appear to be working yet. when you look at this chart here , the moves in wti over the year were up 17% at this stage come about when you look at those losses with the flow on effective this is a lot of investors are simply choosing to stay on the sidelines. this chart takes a look at wti implied volatility that has spiked to the highest level in a month. yes, you need a degree of price swings so traders can make profits but still, many are staying out of the market completely now because of that risk that they could be completely burned. brent, when you lo

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convocation and the chairman of the board of the network for the protection of national interests, anzlations, glory to ukraine , glory to the heroes well, we talked about this scandal with ukrainian justice with ukrainian judges, one judge takes a huge bribe despite a huge salary, other judges are appointed by such judges for whom this bribe was supposedly intended, and still they still cannot collect all the dollars from it, as it were a bribe, part of it has disappeared somewhere , the third judge is driving drunk in his lexus, where did he make money from? he kills a national guardsman with bottles of alcohol, and it turns out that two years ago he smeared another judge of what seems to be the vyshgorod court, i said, or some other court for the same drunk driving, and other judges who also drive drunk continue to administer ukrainian justice and very we have a lot of questions for the ukrainian courts. literally for the last few days. how can we get out of this situation and how can we answer all these questions? well , in fact, the reform of the judicial branch of government is o

dollar-yen, that weakness in the yen continuing as we have the likes of a number of banks including anz seeing further weakness for the japanese currency to come. one stock we are watching is qub e holdings, announcing an acquisition totaling one hundred 45 australian dollars. this is bloomberg. ♪ francine: in 1971, wire and plastic products plc made shopping baskets. in 2022, wpp, as it is now known, is the biggest advertising firm on the planet. sometime between then and now, specifically in 1989, mark read walked through the doors and played a starring role in that transformation. in 2018, read became chief executive of a firm in crisis. the man who had made the giant, martin sorrell, had stepped down. today, we speak to mark read about a new age of advertising and how to run a business fit for the 21st century. mark, thank you so much for joining us on "leaders with lacqua." what does it mean being an ads man, ad leader in 2022? mark: [laughs] well, i mean, our industry is at such an interesting phase, isn't it? we've just been through the pandemic, we have come out, i think, in man

epicenter of transit in the area, bringing thousands of commuters together, but today the transbay tube anzenter is nowhere near meeting expectations. just eight agencies are using this to $.4 billion center, and they are only seeing 35% to 45% of pre-pandemic use. phil matier spoke with transbay tower official adam vandewater street about what is not working. >> it is a real challenge for our operators in the coming years as we struggle to get to a new normal. san francisco more than most is an area that has been about invention, reinvention, innovation, and it is changing. we are going through one of those periods now and it is difficult on our commercial property owners and transit providers. kumasi: vandewater street is despite the lack of transit revenue is coming from other places. >> opened three restaurants. at the end of last year we opened a taproom in the park that has become an evening destination. our sales revenues have outpaced those of the rest of the city because of that activation. kumasi: phil is transit experts and city leaders believe it will take at least two years to f

and the chief economist at anz sees a 25 basis point hike next week. she sees another 25 in july.ou to su keenan, with the first word headlines. >> president biden expresses confidence that regulators would reach an agreement to avoid default, even as republican lawmakers criticized his decision to travel to the pan for the g7 summit. fighting and congressional leaders have agreed to a narrow round of staff level talks in hopes of reaching a deal. he shortened his asia trip to continue negotiations. micron is poised to land $1.5 billion in financial incentives from the japanese government to help it make next-generation memory chips in the country. sources tell bloomberg the company will make chips in its facility in hiroshima using advanced tech. the deal is the latest step to bolster its domestic semiconductor production. to india, the top court has asked the markets regulator to close is investigation into the allegations against the adani group. those allegations include corporate law, violations of insider trading conglomerations -- treating. a six-month extension after submi

request that was the head of fx research at anz. let's get it check of the latest headlines now.trial firms kept falling in the first four months of the year, undermining cooling demand in factory gate deflation. industrial profits fell 20.6% on the january to april time from the same time in 2022. however, profits for april were up 3.7% from a year earlier compared with march's decline of about 19%. jon ferro says the sector may be the next beneficiary of the foreign relationship with beijing. they expect china to remove 80% of his tariffs over the next few weeks. according to the latest science, ties between australia and its top training partner are on the mend. beijing lifted its ban on australian tender. the indian prime minister has inaugurated -- about a third of the country's federal lawmakers including those from the opposition congress party what kind of the ceremony. criticisms linger that the building is a vanity project. giorgia meloni says she has yet to make a decision on the role in china's program here. the government still evaluating the matter. it is still too

anz a loss of .25% and not quite as bad as of the reaction and extending those losses today and nationalthose comments about a peak in margins. we did hear similar sentiments from a.n.z. and maquary bank lower despite beating when they reported earlier today as well. shery: and jonathan garner, chief asia and strategist on morgan stanley. thank you so much for sticking around. that reaction in australian banks makes sense to you? jonathan: we're cautious on banks across the region and in australia and korea. some of the more developed market bank sectors. we are -- we're particularly bearish, i think when we look at australia, the further hike from the r.b.a. wars not expected by the market. and we have an inherently leveraged economy on the consumer side. and so that does raise issues going forward about the credit quality for the banks. and the sector globally is derating at the moment. as we said in the earlier segment we would rather be playing things like the china consumer recovery and where we do like financials it's in the much lower income parts of the asia space. so in india an

deposed last week as part of two law jpmorgan for its part has tried to push down and say no sthrk anzluck had contessa brewer is live in the silver state and will join us. whaeng bo can be took applause there is rng. >> and there is a big push to coax the movie business and all the jobs it brings here come ahead on "squawk box." (dr. aaron king) if you have diabetes, getting on dexcom is the single most important thing you can do. it eliminates painful finger sticks, helps lower a1c, and it's covered by medicare. before using the dexcom g7, i was really frustrated. all of that finger pricking and my a1c was still stuck. my diabetes was out of control. (female announcer) dexcom g7 sends your glucose numbers to your phone or dexcom receiver without painful finger sticks. the arrow shows the direction your glucose is heading-- up, down, or steady-- and because dexcom g7 is the most accurate cgm, you can make better decisions about food, medication, and activity in the moment. after using the dexcom g7, my a1c has never been lower. i lead line dancing three times a week, and i'm just livi