we can continue advancing our shared goals and values including at the g7 summit in japan and the apac in san francisco later this year. [speaking foreign language] pres. biden: rather than figure out how we can work on not working together, the more difficult job is how we disagree. [speaking foreign language] pres. biden: you are a real leader and a real friend. [speaking foreign language] [speaking foreign language] translator: thank you so much for those warm words of welcome. [speaking foreign language] translator: as we enter the new year of 2023, i am pleased to make the first visit to washington, d.c. as prime minister and have this meeting with you, joe, my dear friend. [speaking foreign language] translator: last year starting with your visit to japan in may, we were able to accomplish so much toward peace and security in the region and prosperity in the region and the international community through numerous meetings that are bilateral but also the quad meetings, the japan -- united states-rok meetings and i am grateful for your cooperation, joe. [speaking foreign language]

apac has been a challenge, i think, through much of 2022. what are the early trends look like is apac activity picking up >> from the flow perspective, even 2022 for us, it performed really well. so in terms of net fee generating assets, we increased 10% or 11% you see customers at ubs, we are number one in asia we are bound to get most of the flows in that region also on the investment banking side, we had a record performance on the banking side and advisory side as well in asia so 2022 was not that bad, actually, in asia. having said that, the momentum from the economic growth perspective is yet to come whereas china opening up we have seen the other signs in january. we hope that after the new year that activity will continue to open up and that the confidence in the markets continues you see the imf with more positive numbers as well if that pulls through, then china opening up is not only good for business in china, but also be a good support for the whole region to continue to grow >> well, it is interesting that we have the market re

we are tryg to stay apace with those needs and capabilities. laura: this r is almost a year old.you see any sign that it could come to an end, any sign of any interest from either side in peace talks? mr. kirby: there does not seem to be any possibility for a peaceful resolution in the near future. we would all like to see an end today, and it could end today if mr. putin would do the right thing and pull his troops out of proce.livity to do that. quite the contrary, has upped the ante and increased strikes on ukrainian civilian infrastructure and civilian targets. he is showing every indication that he wants to continue to prosecute the war and continue towhat we will do is make suree doe evarg hiinbattlefield, so tn mr. zelenskyy is ready to sit down at the negotiating table and conduct diplomacy, he can do it with a stronger hand. he can do it with the leverage in other news from around the world, t world health organization has warned china is under representing the severity of its covid outbreak,ic agaickna removed covid restrictions which was followed by a surge in cases. t

joining us now is the head of apac. chinese consumption, it is asian consumption reopening. are you focusing more on those retail names, consumer discretionary's? >> the combination of them, i would say. consumer discretionary, and that includes e-commerce, internet and gaming, would possibly be the biggest beneficiary of china reopening. we have had two to three years of depressed consumption. sentiment is improving. on the ground numbers, looking at mobility data, or the tourist movement within china, beginning to happen outside china as well. it clearly bodes well for the consumptions. we would think consumer discretionary's come restaurant chains, e-commerce, internet would all be beneficiaries of that change in sentiment. shery: which is why you have upgraded china, but you have also downgraded a couple of markets. tell us about those. >> we upgraded china to overweight. that was kind of obvious after the china pivot came through in november. we funded that position by downgrading india and indonesia. india was at

which i think is a conducive environment for apac and emerging-market assets.hen can we expect the chinese consumer to make a comeback, especially given that inflection rates are serving right now are not helping at the moment. david: i would expect an l shape recovery for household consumption. you know chinese households are sitting on a significant level of savings amassed during the pandemic. these savings are expected to be spent down. although i wouldn't expect a very quick, expeditious spending of the money, but we should start to see some of that spending flow in the second half of this year. really starting to see chinese travelers in places like china -- thailand and other parts of asia and that should start to ramp up and incorporate to. shery: we are expecting chinese inflation numbers as well. where do you see the pboc going in the sense that they do want to stimulate the economy, but inflationary pressures could also become an issue further out into this year? david: i think we will get a bit more policy support in the first half of this year, pol

. >> the fact of the matter is jo biden and his environmental tea are moving apace.peline was canceled. wheezy oil and gas permitting a record stall outspread people refusing to invest in oil and gas because of this esg and green movement. well i agree with you these guy are total blowhards and many of them total frauds on this issue the policies come out of the corporate push in many cases an it's not the other way around for the corporations are pushin for this quote revolution because i think they're going t make a lot of money either way. no matter what happens they com out on top. >> i agree, it's kind of in unholy alliance and most bad ideas take on a certain kind of inertia that gets pushed and pulled from a lot of different places. sometimes things just have to g splat before the regular majority will just end up and g look, it's fine to talk about renewables, it is well and good and i think in our best interes to think it other ways to affir the planet, but to affirmativel make fossil fuels the enemy right now and to marginalize an vilify the very thing that

he really put the p apac y and the pontificate above itself.tant than the one single person. he said he never wanted to become pope, that he was going to fill the papacy as best as he could when he did become pope but certainly definitely someone who put the catholic church above all and who really saw himself as someone who said the doctrine of the church, someone who delved for hours and days into the libraries of the vatican looking at scriptures, looking at the books down there as well. who saw himself as a theologian above all and definitely not someone who was as outgoing as, for instance, john paul ii was wooing the masses and an icon for not just catholics but many people around the world. pope benedict a bit more subdued in his ways. the funeral we're seeing, the service we're seeing right now very fitting for who pope benedict was, the kind of character pope benedict was and certainly also definitely the way that he would have wanted the ceremony to take place. i think some of the words we heard from pope francis very important, not j

she was at apac in the end of 2020 two. she received a rockstar welcome from the national leaders assembled there. but back home, it was a different story. her disapproval rating had been rising, it was not the highest since she won a record reelection just a couple of years ago. at the same time, her party was falling behind, the conservative opposition. it was not looking strong for her upcoming election. so, has that played into her thinking? it isn't very clear. what we do know is that no one is putting is up to replace her, possibly making a dying outlook for her party at the upcoming vote. dani: thank you very much. the most read story so far of the day. jacinda ardern announcing her registration. let's talk about the corporate world. in and microsoft are laying off tens of thousands of workers. part of a wider job cut that is hitting the tech industry right now. firms are slashing costs. there is a fear of economic slowdown. microsoft notified 10,000 workers that they will lose their job this quarter, after amazon st

reporter: let me dig deeper on the apac. this framework was launched last year. it seems like the administration still believes this is the best offer the u.n. can get from the chinese? and my understanding this correctly? ms. jean-pierre: it was announced in tokyo this past may. and japan was a critical partner in helping us to build support particularly among southeast asian countries. japan has been a critical partner in this. partners represent 40% of the world's gdp and we are united in our belief that much of our success in coming decades will depend on how well governments harness innovation. we have to see how this works through especially the transformation to clean energy, digital technology sectors while defying our economies, the range of threats from agile supply chains and corruption to taxation. with the japanese leadership in the negotiation, we expect to achieve commitments that will deepen our economic engagement in the region and make good progress this year. this is a partnership that is incredibly important. japan played a very big role on it

that's going to continue apace. i don't think they knew that this was going to be the investigation. but look, jeff zioents. there's all kinds of different chiefs of staffs over the years, some are very political and heavy-handed. jeff zients is in a different category. he's a management consultant, very successful, self-made one at that. and he's known for being well organized and handling complex operations. so i think one of his first big tests will be his handling of this investigation. but there's something else to focus on with jeff zients. and that is his experience with the economy and with budgeting. all the way back to the obama administration, giving economic advice, performance management, all these different roles and of course handling the vaccines. if there is a recession, a soft recession, economic recovery issues, jeff zients is going to be well poised as chief of staff to implement that sort of policy approach and response. and you know, even beyond the r-word, i just think the economy is going to

. >> well, the fact of the matter is joe biden and hisisd environmentahis enl team are moe apace.the keystone pipeline canceled. we see oil and gas permitting at record stall out. refu now, people are refusing to invest in oil and gas because this esg and greenof thi movement. mike . so while i agree with you, u these guys are just total blowhards and many them totalem frauds on this issue. the policies come out of the corporate push in manye push cases, and it's not the other way around. the corporations are pushing for this , quote, revolution, because i think they're goinggo to make a lot of money eithetore way, no matterns what happens, >>ey always come out on top. >> i yeah, i agree. it's kind of an unholy alliancen and most bad ideas take on a certain kind of inertid a. right.pushed that gets pushed and pulled from a lot of different places. and sometimes i'm afraid things just have to go splat before the regular majority will just stand up and g eo, whoa, whoa. look, it's fine to talk about renewables. it'se to t well and good. d and i think in our best interest to look at

still to come as scaremongering to come as virus scaremongering continues apace, meet an continues apacewe meet an incredible woman live in the studio. nasreen veronica, who has gone viral after emerged of her bravely refusing to wear a mask in hospital. that's at 935. don't miss her story. but next up in the clash , labour truly up in the clash, labour truly ready to the country. tory edwina currie goes head to head with kevin maguire from the daily mirror on keir starmer's big pledge. what do you think ? big pledge. what do you think? is britain ready for a labour government down at gbnews.uk tweet us at gb news and please vote in the poll. the results are . next it's next wsfime next it's time now for the clash . sir it's time now for the clash. sir keir starmer set out his pitch for governing the country during his new year speech today , he his new year speech today, he promised voters a provocatively named take back control . if named take back control. if labour wins the election, can feel the public looking us again and we won't let up . we'll work and we won't let up. we'll work

still to come as scaremongering to come as virus scaremongering continues apace, meet an continues apacewe meet an incredible woman live in the studio. nasreen veronica, who has gone viral after emerged of her bravely refusing to wear a mask in hospital. that's at 935. don't miss her story. but next up in the clash , labour truly up in the clash, labour truly ready to the country. tory edwina currie goes head to head with kevin maguire from the daily mirror on keir starmer's big pledge. what do you think ? big pledge. what do you think? is britain ready for a labour government down at gbnews.uk tweet us at gb news and please vote in the poll. the results are . next it's next wsfime next it's time now for the clash . sir it's time now for the clash. sir keir starmer set out his pitch for governing the country during his new year speech today , he his new year speech today, he promised voters a provocatively named take back control . if named take back control. if labour wins the election, can feel the public looking us again and we won't let up . we'll work and we won't let up. we'll work

apac starting at a nine-month high, let's change and look at where we see most of those gains. is very broad based vast majority of stocks so far nearly 1200 of them have risen over the course of this year. in terms of what else they are watching when they drilled down into it further. what is losing the game -- leading the gains? there are two stories. what is happening in china and optimism amount -- around reopening. revenge consumption in travel reopening. from alibaba we have signals that the tech sector crackdown could be easing. the are -- the other part of the players is what is happening in the chips space. that has do the fed and the rate hiking cycle. kathleen: a lot of things and focus there, moving to the recent rally in chinese and taiwanese chip stocks, they may have more room to run. the global rate height cycle will peak soon, let's bring in the leader of our asia stocks team. there is optimism growing in that guard. were used -- in that regard. where do you see it the most? >> essentially, korean and taiwanese chip shares have been doing quite well this year d

head of apac health and life sciences practice.estment management strain us to discuss the outlook for indian stocks and why they worry that 2023 will be different. this is bloomberg. ♪ yvonne: live pictures there out of mumbai. we are seeing how this alters out given that we are not much in conviction and the markets today, we are pretty much flat at the moment. and when it comes to india, and few of asia that are actually in the right, it spend quite a bumpy year for indian stocks. last year there were is the opportunities. the product management and macroeconomists that dsb investment managers that manages about $12 billion in assets. thanks so much for joining us. you're saying the worries of 2023 are likely going to be different, how so? >> thank you for having me again. i think, yes, i was saying there was a time in december were we said 20 is all about high inflation, hawkish monetary policy, supply-side squeezes, economies not being able to fully open up, please worries of 2022 would end in 2022 saw today. it is easing in a

what is the view for inflation it comes to apac in 2023.ation is good news berhow price -- how quickly can prices fall? guest: to what extent is it an equal trajectory? you have china reopening that might complicate matters as follows ppi is consumed -- concert. at the forecasts, most economists see inflation coming down. it will remain elevated across most parts if not all of the asia-pacific. bible 1% in australia -- 5.1% in australia as an example of a coming down from a very high base. in asia, comp -- economies that are expected to recover from covid this year will see inflation accelerate. in southeast asia it is a vietnam story. where inflation growth is expected to remain robust like indonesia and the philippines, on that note there inflation is expected to remain well above trend. and might have implications on how quickly policymakers can remove and reverse some of the tightening they put in place. especially in the philippines where the forecast is 8.6% high in december. this is where things might get tricky. the ranges on many o

the rest of apac are underperforming, but china has done well.w investment in china more than double over the past two years. >> we hear a lot about grain hydrogen. your portfolio points out hydrogen investment was just $1.1 billion. what is the reason behind that? what sort of big advances to we need to meet targets? >> that 1.1 billion dollar investment is the investment that went into deployment of things like electrolyzers for deployment of clean hydrogen. pipelines dedicated to the transfer of clean hydrogen and its storage be a the number seems small -- storage. it is triple the investment in 2021. it represents the fastest growing sector in energy transition. a lot of announcements we hear our announcements on investments that will happen within this decades. we will see that number significantly increase. haidi: allie is naughty. -- chile needs last investments. -- asks if the new lattice government will maintain market friendly policies. >> the promises made -- so far. the first law we will publish is the law that provides investments fo

if the tiktok continues apace after this song, the president will speak and we will go to it live. from the revelation of nicholas documents out of president biden's delaware home to the main threats of the u.s.. reaching its parliament. there's a lot of discuss. let's get right to. and you see kurt bardella and christina greer are back with me. joining the discussion is rene grant. columnist and associate editor for the boston globe. rene, you are the newbie here. just hold forth on your thoughts about the classified documents travails that are hitting the biden white house. >> you know, first thing first for me. can people stop taking classified documents like their travel size shampoos from a hotel? can we knock that off? having said that, these two events are not the same at all. what we're talking about biden and trump. house republicans including congressman comer -- would have a lot more credibility if they had spent the same amount of angry spittle after news about trump hoarding hundreds of classified documents for over a year or. that they're now suing over biden who has

now award season is underway which means hollywood woke free is continuing apace this time courtesy cate to win her third oscar for playing a conductor. facing cancellation in the musical drama . tom it's off to musical drama. tom it's off to back at the golden globe for the role last week. kate to her growing trophy collection a win at the critics choice awards . at the critics choice awards. but rather than use her receptions speech to thank the people who guided hers victory, kate just very concerned of kate is just very concerned of best actress races as sexist , best actress races as sexist, all while gripping on to a of course. watch this is this it's this patriarchal pyramid where. someone stands up here why don't we just say there a whole raft of female performances that are in concert and in dialogue with one another . and stop the one another. and stop the televised horse of it all. because i can i tell you every single woman, whether you know television , film, advertising television, film, advertising tampon commercials, whatever you're all out there doing amazing . that is i

now award season is underway which means hollywood woke free is continuing apace this time courtesy cate to win her third oscar for playing a conductor. facing cancellation in the musical drama . tom it's off to musical drama. tom it's off to back at the golden globe for the role last week. kate to her growing trophy collection a win at the critics choice awards . at the critics choice awards. but rather than use her receptions speech to thank the people who guided hers victory, kate just very concerned of kate is just very concerned of best actress races as sexist , best actress races as sexist, all while gripping on to a of course. watch this is this it's this patriarchal pyramid where. someone stands up here why don't we just say there a whole raft of female performances that are in concert and in dialogue with one another . and stop the one another. and stop the televised horse of it all. because i can i tell you every single woman, whether you know television , film, advertising television, film, advertising tampon commercials, whatever you're all out there doing amazing . that is i

. >> and it looks like things will continue apace. there have been some tough calls that he's had before where they've been combative and other things like that. this was not that. this was somebody who seemed to be projecting some real strength. the other piece of it is they lowered their prices, and they've been able to do that at a time, frankly, a lot of other competitors haven't. you argue that the margin will come down, and that is true, but it's allowed them to actually continue to sell a lot of cars. so, you know, there have been lots of questions long term about the valuation of the company and therefore what happens, by the way, to twitter and the like and everything else. but this has been a morning that a lot of folks in tesla land have been very happy about. >> so, stephanie, donald trump allowed back on meta platforms. it seems to me this is purely a business decision, except we heard that he feels the danger has subsided. your thoughts. >> i don't know. nick clay's message sort of sounded like, yep, we know donald trump

i also say that that when they're moving and shaking, as a program manager for the apac i know how hard it can be to leave all of that work when there is all that students. to invaes and get their babies to school. so when we know that they can implement they need to be supported as well at the district level to implement the same strategies and solutions for their families. thank you. >> good evening, pastor williams, born and raised, joined the military in 1975, retired in 1995, retired out of texas, tried to go back to samoa to see what was in the island and it was not good. so i came back and got my four boys, they went to school in balboa, one of went to sunnyvale, he came back three days in a row, no books no homework, and i'm saying, this is why i left the island. and here in san francisco, we file a lawsuit. anyone familiar with the williams act, commissioners, superintendent? williams act, 18 years been in the book. it's a tool for every parent, i named it after my son eli williams, number one to have sufficient textbooks for every child. number 2, to have qualified teachers to