most of us in apac are in ipf.re also being watching and engaging to find out how we can work together. it is not zero-sum. >> is pugin going? >> i think the foreign ministry of thailand is waiting. but we know for sure he will not be at g20. whatever it is, there will be representation. >> good to have you with us. we are looking forward to that summit in thailand. we have breaking news, we are getting the gong show -- new covid cases. 2500 -- this coming at a time when we continue to watch potentially more targeted measures in china when it comes to those restrictions. her covid-19. as cases rise. beijing seeing the highest levels in five months or so. stay tuned for more insight and analysis as we count down to the apac leaders meeting. reopening after covid-19 will be a key issue as well. this is bloomberg. ♪ >> wall street banks set to be quietly sounding out investors about their interest in the debt that funded the twitter by out. sources say some are demanding a discount as low as $.60 on the dollar to take

what are that it expectations when we get to apac? issues are going to be discussed here. you have the new economy forum there in singapore and now apac. maybe a chance to start delving deeper about some of the big issues facing some of these asian economies. 14 heads of state will be here. maybe it will not be as distracted as we saw in bali where the war in ukraine was a focus. we move on now to bangkok, where president she -- she shipping will be the most influential head of state here. joe biden not be here. she as well as the chinese delegation did sign on to the g20 communique that condemned the war in ukraine. so lots to discuss. i imagine high inflation, high food prices will be at the center of discussions here. >> you mentioned the g20 joint communique, but not everybody was on the same page when it came to how they want to deal with russia. what is the sense you are getting on the ground right now? >> they did sign the communique. by the time it came out, vladimir putin's representative had already left bali. some had even

that is it for now from the apac leader summit. tom: fantastic, thank you very much indeed., ecb policy makers are considering a slowdown of interest rate hikes. we will go live to frankfurt next. this is bloomberg. ♪ tom skate welcome back. key figures are gathering in frankfurt for the european banking congress. ecb president is set to give the keynote speech later this morning. for more on this, let's go to the ground in frankfurt. a growing debate in the market over the rate trajectory for the ecb going in to december. what do we know? for december is around the corner, that means two things. christmas, but also for some, the last monetary policy decision of the year for the european central bank read as you say, there is no question, in terms of the fact that the european central bank will hike in december, that is pretty well calibrated. there is a real debate going into this meeting around the magnitude of it. will it be 50 basis points or 75 basis points? as we reported this week on bloomberg, there is growing momentum behind the 50 basis points. for a number of reas

most americans don't know what apac is.c is a very powerful jewish organization that gives millions of dollars to incumbent u.s. senators and incumbent members of congress who have cast favorable votes helping israel. they have been bipartisan in the past, favoring incumbents. they give huge money, nicolle. i think it's time for apac and maybe be bibi netanyahu as a sed act to stand up and say we will no longer tolerate this. and if apac is continuing to give money to members of congress who are refusing to stand up to this kind of evil, a man who referred to holocaust survivors as burnt cookies, trump's own grandchildren, jewish grandchildren, caught in this hateful spittle from this man, it's now time for organizations to take steps against the republicans who are too afraid to speak out against evil. >> i don't disagree with you, but it's sort of like expecting merrick garland to clean up the criminality and corruption of the twice impeached ex-president donald trump because republican senators didn't have the cajones to

we got you down to the apac leaders meeting coming up.ls on that plus more. ♪ rishaad: this is bloomberg markets. we have futures on the way down for the u.s., but not pulling that much of a damper on regional equities here. we of course have one eye not just on the federal reserve and china, but politics the awful with this week's mid-- polls showing democrats losing control of the house and possibly the senate. >> joe biden is hoping the democrats can pick up seats in both the house and senate tuesday. history says they probably won't. look at the last seven presidents. almost all of their party's seats in midterm elections. some of those losses were significant. democrats had hoped they could run the issue of abortion rights following a controversial supreme court decision. but surveys show that inflation is the bigger issue for voters, and president biden is getting a lot of the blame for it. in the house, all 435 seats are being contested. republicans only need to pick up five to take control. polls indicate they should do that easil

thailand hosting that apac summit, a bit stronger. we have the set unchanged.orward to foreign reserve data. looking at that and also looking at india as we have the country seeing a little bit of ground against its american counterpart. repeat trading starts in 23 minutes. a lot of what happens in this part of the world will be determined by what a fed -- what fed officials do and they continue to make the case for further interest rate hikes and they will do that again as we witnessed the hottest inflation in decades. here are some officials speaking out. >> even under these generous assumptions, the policy rate still is not in a zone that might be considered sufficiently restrictive. to get this level of policy, we will need to increase the policy rate further. >> we are united in our commitment to get inflation back down to our 2% target. it is a question of how far we will have to go interest rates to bring that demand down into balance. we raised interest rates a lot this year so there is a lot of tightening in the pipeline we have not felt the full effec

ivanka: that was the apac executive director.ing of high-level participation, next week is certainly going to be quite busy, not just when it comes to a pet, right? the world's global leaders will be headed to this region. first it will be g20 in bali. you have biden and president xi meeting on monday. this a lot to talk about. obviously taiwan. biden talking about he will not make any kind of fundamental concessions, and then you have who is missing, right? i think xi is going to apac. putin is not. biden is not either. rishaad: russia will be represented by the deputy pm. we got people coming from all over the bloomberg universe. david: except the three of us because we've got to hold ford, but, yes, everyone you are used to seeing from pretty much everywhere in the world, so shery is flying in from america. we have heidi flying in from us really are. we have colleagues coming in from around the world. erik schatzker, one of our faves, of course, also coming to the region. stephen engle, of course, will also be at that conferen

kamala harris convened an emergency meeting of world leaders at the apac summit. she called it a brazen violation and urged north korea to engage in serious and sustained diplomacy. chinese president xi jinping is also attending that summit. he took a few shots at the u.s. and the asian pacific region is no one's backyard and should not become an arena for big power contests. cnn's will ripley is following it live. also some discoordination around the response. >> reporter: because this test is happening as this is happening in bangkok. u.s. vice president kamala harris, president un of south korea. the prime minister of new zealand, they're all hear. they had an opportunity within the last couple of hours to hold an emergency meeting and discuss what needs to be done here but the reality is, max, there's very little that actually they can do because north korea is flagrantly defying the u.n. security resolutions. they've launched around 50 and they don't care because they're not engaged with diplomacy. china and russia's response is muted and neutral at best so t

and it's tal yg that a special-interest group like apac would spend millions of dollars to try to keepe pittsburgh and some of these other cities that have a blue collar background they saw right through that, which is great. >> and summer lee, have you had a chance to talk to john fetterman because you guys are going to be heading to washington together. you both have a similar pro the regular person, pro real people. somebody said he looks like if the word union was a human. i feel like the two of you could do some great things together. you guys have some conversation? >> i haven't yet. i'm sure he's probably hopefully getting some rest. we do have a lot in common, right? we come from representing the same small town, punching above our weight class. we're here to bring our progressive values. we share so many of them, the way we incite and bring in new people who really feel they have a voice. i'm excited to work with them, i'm excited to work with western pennsylvania for the folks who came out some for the first time who voted for us who are going to see money is not going to sto

eastern city of going my fearing a rebel advance as for me, came in president who kenyatta attempts apace mation and masses, a new moon rocket blah soft bringing the u. s. close up to returning astronauts to the learners service 50 years after the polar mission. ah, welcome to the program, the u. s. in nato say they're investigating a missile strike in easton, poland, which ukraine is blaming on russia. moscow denies it launched the missile that killed 2 people in the polish border town. the polish government says it cannot confirm who was behind the attack, while the associated press news agency is citing us officials saying in the initial investigation, suggest that michelle was fired by ukraine to intercept an incoming rush and miss m . u. s. president joe biden says, early information suggests it may not have been fired from russia a business or was fired for years on the information that just i don't want to say that till we completely investigate i, on my credit minds with was fired from russia. but we'll, we'll, we'll see and polish prime minister matter to you should morrow viet,

the war in ukraine had overshadowed the energy transition, but global heating continues apace. the glowing red points marked the location of europe's 30 most polluting coal fired power plants. the dirty, 30 climate experts agree shunting these down is an urgent priority. this is bash it off in poland, also known as the climate killer. the largest lick, ny, told brown coal fired plant in the world. it's europe's biggest source of carbon emissions, the major air and water polluter. but unplugging basha talk won't be easy. bolan's lik night, reserves have made it less dependent on energy impulse, about 80 percent of its electricity is produced from coal. and about $80000.00 minus depend on the industry. europe has grown rich from coal. it power the industrial revolution, the e. u is increasingly facing out coal. coal mines are being converted into a theme parks and open and museums. but in poland, germany and romania, coal mining continues, fields, forests, uneven, entire villages have been destroyed for it. the current geopolitical crisis and soaring energy costs looked set to de

the last time it hit that figure was 1982 leaders are heading to the economic summit apac they are getting a sense of what espe else is happening on that market all green across to this point from europe. we got comments from the st. louis fed president speaking about the fund rate moving between 5% and 7%. it sparked interest which means does that mean rates will go higher from here james bullard spoke about raising interest rates and curbing inflation. more needing to be done. a similar sentiment from christine lagarde who is speaking at the european bank congress this morning. ecb president christine lagarde reiterating commitment to tackling inflation with higher rates. >> we expect to raise rates further and withdrawing an accommodation may not be enough. ultimately we will raise rates to levels that bring inflation back down to our medium-term target in a timely manner. >> let's close out with some stock data raising the offer from bhp to oz minerals that takeover could be bhp's largest in a decade and will expand production of copper and nickel needed for electric vehicles that is t

apac? are you expecting more tightness there? >> a little hard to say.merica has been quite strong. asia has not been as strong the last few years, less economically driven, the borders are not freely open for travel, asia is more of a cross-border market whereas north america and the u.s. is very much a primarily domestic market. hard to say, but i will say that our business model is very adaptable. when borders got shut off and people were not traveling to cities and they were not really traveling for business, we were able to recover, because people got encourage during the pandemic and they were able to stay in airbnb's a couple hundred miles away. however travel demand changes, i think our business is going to be able to adapt, we are probably the most adaptable platform and travel, because we are the most -- in travel, because we have the most amount of spaces and communities all around the world. emily: how does this all play out for airbnb in the next year, between the rise of long-term stays, the bounce back of hotels, customers under pressure,

and what american officials say is that actually those communications proceeded apace, that they were able to speak relatively frankly with their chinese counterparts and nail down the specifics of this meeting. and part of that was because there was a real desire from both sides to finally get these two men in the same room talking, seeing eye to eye on at least some things. and so those talks continued over the fall, and what officials say is they were still talking late last night to come up with some of the agenda for what these two men will talk about, things that they wanted to emphasize, things that they wanted to de-emphasize. so that will kind of come into play later today. for his part, president biden has been reading up. he's been talking to his advisers. he's been kind of running through scenarios for how certain parts of this meeting might go and how he might respond to what xi will say. so i think that they do believe that something can come out of this. whether it's something that they can go home and say, we achieved x, y, z, i don't think they expect that, but they d

jasmine: it is apace for lgbtqia people to come after they are released, not only have a safe place tois a place for them to thrive and experience joy. cat: but she says the help lydon house provides is too rare. it is the only residential reentry program in the midwest that primarily serves trans people and only three residents can live there at a time. jasmine: if i had lydon, i know that, i would have been able to make better choices, but also i would have felt seen. we want to have spaces for people where they are welcomed and where they are celebrated. cat: king says staying at lydon house for more than a year gave them the opportunity to find their calling. today, they work at the nebraska aids project, the only community-based aids service organization in the state. king aims to give clients hope, something king says they needed when they were diagnosed with hiv in 1993. >> i never want anybody to feel the way i felt when i got my result. my main purpose and my main goal, doing what i do is making sure that that information is out there, making sure that the diagnosis that i hav

president xi jinping is pitching for greater regional cooperation at the apac meeting in bangkok.to wage a new cold war will ever be allowed by the power by our times, he said. >> with he and biden agreeing to resume cooperation, let's take a look at the state of business sentiment. joining us now is craig allen, president at the u.s.-china business council. i know you up and looking at this closely. what do you make of the latest message from president xi jinping? >> president biden and president xi jinping had a three hour meeting earlier this week and i think the main outcome of that meeting would be the establishment of some working group mechanisms on the number of important issues, including climate, trade and investment. we will have to wait and see, but it is a part is a -- positive sign. talking is better than not talking. >> in terms of the business community in the u.s. and also those doing business in china now, are they eager to believe that something can change in the right direction or are they still worried? >> i think that 2021 was an excellent year with trade and

joining us is jim mccafferty, joint head of apac equity research. always good to have you with us.ou say you could still potentially see a mechanical bottom in asian stocks but that this is not sustainable. explain. jim: ok. so what we think is inflation is a real problem. we believe there will be another three incremental rate hikes in the u.s. between now and next summer. we typically see that if we see a recession, stocks bottom during the recession period rather than pricing them hells ahead of the recession, terminating. so we think the positivity could come towards the tail end of q1 next year moving into q2. so that is a scenario we are planning for 2023. shery: there are so many sectors that depend heavily in the u.s.. who will suffer the most across asia? jim:the two or even three geographies most tied to the u.s. are korea, taiwan, and number three to a lesser extent, japan. the one country that appears to have a domestic consumption immunity from the west aussie enough is china, and in the case of china there are two things which are opposite from the u.s. number one is

at apac as well as g20. the global big leaders met and they talked.is the first step in the right direction, talking and understanding. we might not change each other's worldview overnight, but there is a place for tolerance. there is a place for securing a better future for the entire children of our planet if not now, for the future of our planet. stephen: what is the risk of possible militarization for this part of the world? james: i do not think there will be any other nations coming into the pacific for a military presence. it is up to our own leaders in the region to call for a military presence if need be. but china has not proposed to have been military base in the pmc. stephen: is there any dialogue on a security pact with china? james: not at this stage. david: that was the prime minister of papa new guinea speaking with our stephen engle. just ahead, investors continue to pull funds and certainly confidence is wanting out of digital asset exchanges despite getting reassurances that things are stable. ballet crypto founder bobby lee will be

futures are trading -- industries rose 1% apace -- the s&p 500 up 1.4% in yesterday's session.y of earnings to digest. hp is cutting 6000 jobs -- we will sail markets digest that once they open. here are your first word headlines -- a lawyer for ftx groups as a substantial none of the crypto firms assets are either stolen or missing. the company's first court appearance, the judge allowed names of key creditors to stay secret for now. the hearing is set for december 16. 50 unsecured creditors are owed more than $3 billion. chinese authorities are letting to impose a fine of a billion dollars on jack ma's ant group. it could land in the second quarter of next year. the report says it could pave the way for the end of a regulatory overhaul of the fintech firm that included the blocking of its planned 2020 ipo. the u.s. supreme court has cleared the way for a house committee to get six years of donald trump's tax or terms. -- tax returns. the committee says it needs the returns to consider potential legislation on presidential compliance with tax rules, accountability, and mandato

you are headed to the apac meetings as well. we are not going to have president biden there.ut the fact he met with xi jinping in person and at least it looks, going to the headlines, that it was a good meeting. how positive is this? bob: i think it is an important step. the market generally and the business community specifically wanted to see that very first meeting, and at least be neutral rather than confrontational. and the important thing now is what comes after. the combination of the leadership teams getting together and the policymakers thinking about what can we actually do together is a needed and wanted desired outcome coming out of this. so the tail will be told over the next couple weeks and months. it is not just this week, it is what will happen thereafter. haidi: the last few years have been quite traumatic when it comes to business sentiment. confidence, this idea we could see a new leaf or at least in offramp for the levels of tensions we have seen and perhaps greater cooperation. how easy is it to rebuild that confidence? bob: it depends on the organizatio

working people are being stretched, the rampant waste and cronyism from this government continues apace up to get this money back, has been wound down. that government has just given up down. that government has just given up and the conservatives are turning yet again to our crucial public services to make up the money. mr speaker, the fraudsters may think they had got away with it but a labour government will hunt them down. the country are sick of being ripped off by the tories. we want our money back! because of tory failure, are crumbling public services are set to suffer even more. ordinary people lose yet again. never before have people paid so much in tax and yet got so little in return. at the weekend, the chancellor admitted that the nhs was already on the brink of collapse. 7 million people on nhs waiting list. how much longer will that list get? three in ten people are leaving education without gcse english and maths. what will it do to our society and future economy? why did the tories have an ideological objection to putting vat on school fees, which the chancellor himself

dear my dear viewers today we are finishing our conversation about jean let me introduce our high apaclological sciences love pago winner of the tv olympiad clever men 2004 graduate of the faculty international journalism to gmo universities 2009 well my assistant is a third-year student at mgimo