break s this is "day australia." will the next hour, we be looking how it will be playing into your tradey day and a little hope and optimism on the market, but it was a financial as well as energy pushing up stocks, trade being on the back burner here. looking ahead to where you are across the asia-pacific. we are looking at central banks. four-tents by nearly of a percent. the number 2872 is the magic number that would signal the end of the correction. looking up the boards. currencies and the bloomberg dollar spot was up. you can see it holding on to those gains. revealing abia was it had production cuts. and gold futures in this rising ate environment falls. haidi: no response. very close to that 12,200 level. asia, the setup that we are getting, pretty busy day. we are looking ahead to the reserve bank of australia and how trading is getting under way in new zealand. e are seeing a downside. we have the bloomberg dollar index returning to strength and close to a forte night high. we are treading water. and looki

since snowy hydro 1.0, project in australia since snowy hydroi.0, so project in australia since snowya substantial commitment, plus we are building the western sydney airport, the inland railand a western sydney airport, the inland rail and a railway from melbourne to tullamarine. so many other big infrastructure projects. we have been able to do it because of strong economic growth. we have also taken a different approach. i have been a reforming liberal prime minister, of course, you know, one of the many difficult political challenges that we face, particularly in the coalition, has been the issue of marriage equality. now, we have delivered that. same—sex marriage is legal. it went through a postal vote, as you know, which was hugely successful, again, much more successful, again, much more successful tha n successful, again, much more successful than many thought, and we delivered the historic reform. a very substantial one. we have also established a national redress scheme for the victims of child sexual abuse. we have provided record support for mental health services and for

you're watching "bloomberg daybreak: australia." zealand will ban farmers from buying homes, saying its citizens should not be outbid by wealthy foreigners. what prompted this latest variation of this law? view for some nt time has been that house prices have been going too high too fast and homeownership rates are the lowest since the 1950's and there's a number of reasons for it. poor supply, population growth but labor and opposition particularly eached foreign buyers certainly in auckland and queenstown as the reason and late last year, there was a the president. she felt it was new zealand's birthright to enown its own property and foreign investors are outbidding locals. rishaad: does this mean that every single foreigner can't buy in. are there any caveats? >> certainly it's going to be quite difficult to buy an existing house because of complications around existing trade grease. citizens from australia in singapore will be able to buy existing homes and there will be the odd exception in terms of new houses, there's a bit m

d w news live from berlin a record drought turns back areas of australia to dust it is the country's worst drive spell in fifty years and across the globe raging wildfires and extreme heat have scientists raising the alarm they warn that rising temperatures could ever bursley disrupt earth's ecosystems. also coming up lawmakers in argentina are voting on whether abortion should become legal the issue has been highly controversial and divisive in the homeland of pope francis and german ryanair pilots who vote to join friday's strike that's already disrupted the travel plans of more than twenty five thousand passengers they want to budge an airline to give them a salary hike. i'm sorry kelly welcome to the program australia's most populous state is gripped by its worst drought in fifty years with pasterns turning to dust and heat waves scorching parts of asia including china and japan wildfires are raging in portugal spain and the united states so what is behind this extreme weather in just a moment we will speak with environment editor but first this report on the high temperatures an

ok we're take you now live to australia where scott morrison is being sworn in as australia's new prime minister in that country he's australia's former finance minister he's promised a generational the other thirty a change in the warring liberal party are seeing him right there shaking hands after signing in as prime minister was a surprise winner when from for him in a three way challenge for the leadership of his party was brought on by a right wing rival inside the party this week. football now and we're about twelve hours from the kickoff of the bundesliga season germany's top division of football still one of the top leagues in the world chris harrington from the sports desk here to talk about that good morning crest morning lots of hype lots of excitement will this fall be better than the dismal summer we've seen for german football yeah that is will some years because of course is the premature exit there are many though is that if it's for the world cup yeah of course they're still suffering from that you know dismal performance you know put in terms of the but is the coming u

the labor party doesn't have strength what's it like in australia. strong and united bill shorten is not that much but is popular leader in the country but the labor party you seen as having a good alternative to the government they're not fighting among themselves but got a series of strong policy positions advanced by bill shorten at times as well but all the time and so they're seen as having credibility when i know you'll remember three years ago four years ago when they were doing the three ring circus trick as well but since then they've undertaken a number of modifications within the party were organization to stop easy leadership coups and i think that's something that the liberal party will have to contemplate for the future as well to try and build confidence and hence we haven't seen that like a party bill shorten being deposed by educated panicky backbenchers and so we watch and wait mark roth joining us from sydney thank you so much for that do appreciate it. so other news in a saudi led coalition air strike in yemen has had a the provin

anna: we are watching live pictures from australia.on has been named the new prime minister of australia. this is the new deputy prime minister. he has replaced the foreign minister in a shakeup of the liberal party. this sets the stage for elections in may of next year. this is bloomberg. ♪ a lot of people are anxious about what will happen. about what will happen. xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. guy: good morning. welcome to bloomberg markets, the european open. we are live from our european headquarters in london. i am guy j

this is due to be news live from berlin the party throws australia's prime minister out of office malcolm turnbull exits after all week of political turmoil scott morrison takes over as the six prime minister in a decade panel still use had enough of the revolving door at the top we'll find out from sydney also coming up. pope francis bears the flight to ireland the first papal visit in four decades there but revelations of child sex abuse by priests and its cover up are rocking the church will francis respond to the growing pressures to cooperate with investigators. plus bonus league football is back tonight the new season kicks off with byron taking on hoffenheim but german football has a lot to prove after a disastrous world cup look at the challenges ahead. i'm brian thomas a very warm welcome australia has a new prime minister after his former leader malcolm turnbull was ousted by a majority in his own party the former finance minister stopped morrison has just been sworn in as the country's new prime minister morrison want to party ballot the feeding his closest rival by forty five

you are watching daybreak australia.wo hours away from the opening of the first asian major markets. >> i am ramy inocencio. over the next hour, we will look the action in australia will play into the asia-pacific trading day. it was confident, but whether that is a question of being well placed or misplaced as u.s.-china tensions continue is the question. 0.3%, shy 15 points of a new record high. the nasdaq up similarly here. the big story, especially in the u.s. afternoon trading was tesla. let's talk more about that. tesla, just a fraction of a percent under 11% for the pop. the big news is that it could go private. elon musk saying he has his funding secured to go private at $420 a share which would value the company at $82 billion. there are a lot of folks out whether they should continue to be shorting that stock. haidi: we will get a lot more on that tesla story. we know elon musk has had his fair share of difficulties in investor relations, to put it that way. take a look at the setup in asia. ramy, unusual situa

australia is a land well used to nature's extremes.ld's driest inhabited continent, but the resilience of its farming communities is being severely tested. official figures show that australia's most populous state, new south wales, is now entirely in drought. two years ago, there were floods on gary sunderland's farm near the town of condobolin. how quickly things can change. now, it's just the opposite story. lambs are going dry, no feed, stock are dying. some farmers have been carting up to 100,000 litres of water to their livestock since january. this video taken earlier this year shows cattle swarming around a water tanker. farmers in the small towns across new south wales are helping each other out with donations. many here say it is the worst they've ever known. all the climate gurus, that know all about the weather, still can't tell us when it's going to break. they've got no idea. we just — we're blind. you know, we'vejust got to plan and hope and pray that it rains. government aid will ease the financial burdens, and the prim

there has been over $60 million in australia spent on making kids go to school.e close the gap is not working. we have the highest incarceration rates in our country, if not the world, and there are so many health issues and other issues that he would need to be across. you're watching newsday on the bbc. still to come on the programme: reasons to be cheerful — why goats prefer people with happy faces. also on the programme: women's wrestling on the rise — we meet the star wrestlers performing to sell—out crowds. he's the first african—american to win the presidential nomination of a major party, and he accepts exactly 45 years ago to the day that martin luther king declared "i have a dream." as darkness falls tonight, an unfamiliar light will appear in the south—eastern sky. an orange glowing disk that is brighter than anything save the moon — our neighbouring planet mars. there is no doubt that this election is an important milestone in the birth of east timor as the world's newest nation. it'll take months and billions of dollars to repair what katrina achieve

you are watching daybreak australia.next guest says the rising trade tensions are not going away anytime soon. we are joined by scott kennedy, the director of freeman china chair. one of the most interesting latest developments are these increasing reports of beijing that they are seeing domestic pressure that there are risks within the communist party. part of it has been criticism that because of being overly nationalistic you can say he managed to miss judge the u.s.. the think that is the case? >> there is definitely a lot of self reflection in china. wrong. everybody got it no one expected trump to go through with the tariffs. they thought he was a deal and he was looking to settle. some selfthere is reflection. people may be criticizing xi jinping but he is not in danger at all. no one had a plan b. everyone else is as wrong as he is. there to figure out what to do next, but certainly china is in a moment right now where they are basically trying to figure what happened and what should we do next. what is the oppor

rob: australia certainly is not. it's not fair to characterize australia as ungovernable.rld are going through a period of time -- what's going on is there is this existential crisis within the liberal party. there are historically two main wings, the social liberal and the conservative wing. whatever series of reasons over the past few years, the conservative wing has felt very alienated and not reflected in the package, even though malcolm number ofaved in on a policy issues to the conservative wing, but they are still disenfranchised. this battle for the soul of the party in these two wings is still ongoing. arguably, not since john halloran was the prime minister -- haidi: i have to jump in there. we are getting a line through from sky news. scott morrison is to be australia's next prime minister, replacing malcolm turnbull. we are seeing an immediate rise in the aussie dollar. rob, is this the better candidate in terms of being left divisive than peter dutton? rob: in the sense of the most polarizing figure, yes, peter dutton is a particularly hard right or hardline c

visitors in australia will be familiar with that.g out but companies are under pressure to make that faster. tpg is one that offers the indian. it focuses more on five g, focusing on a connection through your mobile phone. that is what the new company might focus on, offering companies five g and winning new company is —— customers by using that to attract. —— marquetry. —— 5g. three of china's for state lenders have recorded profits for the first half of 2018. icbc, the largest of china's lenders will reveal its half—year financial report card later today. so far this week guessing that the export agricultural anchor china up like 7% compared to a year ago levels stop in the bank of china posting a 5% hike. and china construction bank corporation netting a 6% rise. elenor explains what is driving up their profits. one of the main reasons behind this rise in profits that we are seen across the big three banks that have reported so far is actually the chinese government's two year crackdown on shadow banking and deleveraging drive has

you are watching daybreak australia.he s&p will be kicking things off within striking difference of its january record and coming off a fifth weekly gain. su keenan is here. start with the fairly mediocre 3.9% for number, unemployment. it was steady growth. su: economists say is -- say it keeps us in the goldilocks zone. the fed stays on track. let's go to the bloomberg. gtv is where you can find these charts. steady as she goes, payrolls climbed 157,000 in july and the jobless rate fell below 4%. behind the headlines, a lot of economists say even though it is below the growth many economists had forecast, it is a steady growth. it follows an upwardly revised 248,000 increase. the prior two months were revised upwards. one economist said there is a flashing yellow light in terms of the economy as a whole on this, but let's go to the big snapshot issues that will be in focus. oil will be in focus because the iran sanctions are coming on. the s&p rallying for a fifth straight week. numbers that the will be coming our way i

morrison don't support dark immigration in australia and that's quite a political quite a controversial issue here but they're much the same sort of people in many ways there though they were close confidant an illustrator and you know term as prime minister and in many ways we might well have see the much the same as before and that will anger the right wing of the liberal party who've been trying to cost nothing to a lot of us because today it's ok what does this mean about the possibility of early elections or is that something that's out there at this hour. there's a very strong possibility merkel turnbull a signal his intention to resign as an m.p. it's only assume that will mean the government the ones seat majority will disappear if the opposition liberal party decide to hold a no confidence vote and that wins then we could see an early general election at the moment on strayer doesn't have to hold an election until next may but it may of the government may well have and forced by their or the lack of a majority you know in government and it could well be that australia goes to t

let's get to your top story and australia.inister do not waste time unveiling his first cabinet over the weekend. it is an effort to reassure the nation after what has been a week of turmoil and political in society. and johnson here. any surprises? ed: that's right. the new prime minister, scott morrison, not wasting any time. not letting aghast -- the grass grow under his feet. announcing mini cabinet. we have josh frankenburg. the new treasurer. he was the energy minister. test with creating an energy policy that precipitated last week's crisis. we have with the is coleman, he as finance minister, despite throwing his hat into the ring with the main challenger. peter duffin, who challenged last week and facilitated this crisis is back in as finance minister. leading thee job defense industry, and a new face there as minister for education. haidi: and julie bishop. thatulie bishop announced she was stepping down as foreign minister. she is staying on the back bench to serve western australia but has not decided what her long

you are watching daybreak australia. likely to become trading headlines again. a sovereign fund from saudi arabia could be making it a leading investor and part of elon musk plan to take the company private. there is a matter of an investor lawsuit and maybe more than one. the plot thickens for tesla. su: the question we ended with last week was where is the [indiscernible] and how can we haven't heard of it? bloomberg has confirmed, speaking to people close to the sovereignudi arabia's wealth fund is in talks to see it become a significant investor in tesla as part of the ceo's plan to take the carmaker private. we are told discussions are at a high level but no commitment are set. the public investment fund has 2 billionake worth dollars in march, under 5% of tesla. we are told by these people close to the matter that the fund is interested in exploring how it could be involved in a potential deal. they also say, and this is interesting, discussions were set to begin before the controversial tweet, which will be import

news live from berlin a party to throws australia's prime minister out of office outgoes malcolm turnbull after a week of political turmoil in calm scott morrison the seventh prime minister in just eleven years have australians had enough of this revolving door we'll go to sydney for the latest also coming up. pope francis prepares to fly to ireland the first papal visit in four decades but revelations of child sex abuse by priests and its cover have rocked the church will francis respond to the growing pressure to cooperate with investigators. plus bonus league football is back tonight the new season kicks off with bahrain taking off and i'm a german football has a lot to prove after a disastrous world cup look at the challenges ahead. i'm brian thomas thanks so much for being with us australia's beleaguered prime minister malcolm turnbull has been ousted after a majority in his own party supported calls for a new leadership treasurer scott morrison won the party's ballot that followed defeating former home affairs minister peter dutton by forty five votes to forty this marks a bitterswe

outrage from australia's aboriginal leaders, after former prime minister, tony abbott, is appointed special envoy on indigenous affairs. the community questions his track—record. i'm ben bland, in london. also in the programme: decades of conflict and thousands disappeared. one women's search for truth in indian administered kashmir. and women's wrestling conquers the world. we meet the new generation of wrestlers thrilling sell—out crowds. live from our studios in singapore and london, this is bbc world news — it's newsday. good morning. it's 7am in singapore, midnight in london, and 2am in moscow, where earlier, russia's president, vladimir putin, tried to boost his approval ratings by speaking straight to the people. his popularity took a rare dive when his government introduced controversial plans to raise the state pension age. steve rosenberg has this report from moscow. vladimir putin rarely does this. a half—hour television address to the nation. it was an attempt to convince the russian people to accept that pension reform is unavoidable. translation: it is really impossible to pos

remember, australia, many parts of australia, are in the grip ofa many parts of australia, are in ther rain or for support and yet here we have a government effectively now in limbo because they can't decide who they want as prime minister. hywel, thank you very much indeed for that. stay with us on bbc news. still to come: the second separation for korean families briefly reunited after decades apart. washington, the world's most political city, is today assessing the political health of the world's most powerful man. indeed, i did have a relationship with miss lewinsky that was not appropriate. in fact, it was wrong. in south africa, 97 people have been killed today, in one of the worst days of violence between rival black groups. over the last ten days, 500 have died. chanting: czechoslovakia must be free! russia is observing a national day of mourning for the 118 submariners who died on board the kursk. we're all with them now, within our hearts. the pope has celebrated mass before a congregation of more than 2.5 million people, in his hometown of krakow. "stay with us, stay with

here in syd ney australia's big cities. water restrictions despite the fact it has been very dry for weeks but there is a growing awareness of the plight of farmers and farming communities and political pressure for the government to do more. of course, what parts of australia need is rain and lots of it. thank you. the first comprehensive study of young professional footballers in england and wales has confirmed for the first time the importance of screening for underlying heart conditions. since the mid—90s up to 2016, doctors screened more than 11,000 young players, and found 42 had serious cardiac problems. 30 received treatment and returned to the game. but the father of one boy who died on the pitch says all amateur players should be offered screening too. here's our health editor hugh pym. ben daniels, who was 15, played in goalfor his local ben daniels, who was 15, played in goal for his local youth football team. without one he collapsed in training and died because of an undiagnosed heart condition. no one trains

jason, we just got some lines coming through your from australia. news reporting that prime and is to turnbull has been declared -- has declared the leadership bacon in the parting -- party meeting. we've been talking about this kind of groundhog day that were seeing in australia once again with this revolving door of prime minister's. prime minister turnbull facing more sticky relation -- more theulation, giving some of polling were seeing and undermining from his own party. duttons saying peter buying for the leadership against turnbull, saying they do have enough of these boats and backing perhaps for that challenge. we will continue to watch those lines coming through from australia and see how things go. ramy: getting back to jason here, we were talking also about cash and the fed and how that is changing incentives for investors. what do you mean by that? jason: i think what you are less trashash being that it was. when you see rates rise, suddenly your discount rate for everything else is more important. rates at zero means that monetary poli

that gives you an indication of the sort of pressure australia's financial pressure australia's financialnder as a result of this royal commission. phil, thank you very much indeed. phil, thank you very much indeed. phil mercer in sydney there. now let's brief you on some other business stories. amazon's one—day delivery advertisement for prime members has been banned in the uk for being misleading. the regulator says it received 280 complaints from customers who reported not receiving their packages in a day. amazon says the overwhelming majority of orders arrived on time. chief executive pay here in the uk jumped by 11% last year to reach $5 million. the chartered institute of personnel development says the rise came despite criticism from both investors and the government over excessive salaries. the gmb union described the figures as a badge of national shame. tinder‘s parent companies have been accused of undervaluing the app, cheating executives out of billions of dollars of stock options. a group of ten former and current staff made the claim in a lawsuit filed in new york. tinder‘

to be treated similar rules have been developed by other indigenous people in north america and australia here to discuss this from johannesburg south africa we have philip williams he's the executive chairman of the indigenous first nation advocacy group in south africa and camber australia tom calma he's an indigenous social justice and human rights advocate and in toronto canada julie bor she's an research so good to have you here let's start with some headlines the stories you could tell i'm sure grant chief horrified at a bird to call it allows organ harvesting from children who die in professional care. canada's shameful history of nutrition research on residential school children using one more here indigenous d.n.a. at cent of ethical florrie could help we can extort generations which makes me think idea is practices like that led to the sam people south africa giving out a code of ethics for research is but and today it's not just you it's indigenous groups around the world but can you give us one story that leads to indigenous communities say ok guys you need to have some kind o

so scott morrison australia's new prime minister any surprises there peter. well what this constitutes is that nothing nothing has been settled within the liberal party this began this instability and this challenge to the prominent they are going for the former prime minister is not going to move again as an uprising by the conservative faction of the party to remove turnbull who was considered to be a moderate not a genuine part of the party and had to be expelled but in his place the liberal party has now elected by a reasonably now imagine. a man who is not considered to be part of the conservative core is a man who has been threatened with dire repercussions from the conservative faction and his followers who collected him have also been confronted with dire. threats of a tradition from the conservative group which as we saw today had forty. out of eighty five sides so not a majority but enough to continue the eternal insurrection that has plagued this government brought down this prime minister stabilize the national government has made the public unset

a federal election is due in australia around may next year.tt morrison is australia's new prime minister, defeating peter dutton, the former home affairs minister by 45 votes to 40, and is it enough of a home affairs minister by 45 votes to 40, and is it enough ofa margin home affairs minister by 45 votes to 40, and is it enough of a margin to guarantee scott morrison will preside over a unified party going into that election? the evidence of this week would suggest that scott morrison will have his work cut out to reunite a fractured party. scott morrison was a trusted ally of the former pm malcolm turnbull. we understand that not only is he no longer prime minister, he is expected to resign from parliament as well. so that will spark a by—election and all sorts of problems for the new prime minister too. so this is the culmination of an extraordinary week in australian politics, but one has the sense that the drama is far from over. the governing party i know has been trailing the opposition in the polls for some time. the signs are that peo

australia's letters prime minister, big australia's letters prime minister, the fifth injust big australia'se fifth in just eight years. scott morrison is known as scomo to this friends, allies he will need as he seeks to rebuild a governing party which is torn itself to shreds amongst the trust of the struggle in public. there has been a lot of talk this week about whose side people on this building. watch oui’ side people on this building. watch our chennai he did tell you as the new generation of liberal leadership is we are on your side. that is what matters. once again, australia has a new prime minister. scott morrison fazes the huge dual challenge, not just healing the woods and this party, but seeking the forgiveness of vista in public, who watched last week's events with exasperation and angen week's events with exasperation and anger. they will not be impressed with what they have seen. just a few days, scott morrison was standing shoulder to shoulder with this predecessor, malcolm turnbull, pledging loyalty. as my leader and i am ambitious to him. good on you, thank you, scomo. bu

it's australia's most populous state and its food bowl.overnment that the entire state of new south wales is officially in drought. and a quarter of the state is described as being in "intense drought". so when you see pictures and go to these areas the land is invariably dry and cracked and baked. it is a massive challenge to keep not only farming families on the land that to keep their businesses viable. we've had hundreds of millions of pounds spent on emergency drought relief and the purpose of all that money is to try to keep the industry going until it rains. but the outlook in eastern australia is not good and the big fear is that a dry summer will be followed by a dry spring that will lead into another hot, punishing some of australia's farmers. it is very much up to nature now to deliver the rain that parts of australia so desperately need. phil, thank you, phil mercer in sydney. back to our top story about the comments by boris johnson, back to our top story about the comments by borisjohnson, lord nicholls, you. i do rather agre

australia has a stable political system.achinery of government is well-placed to withstand personnel changes. but i think there is great frustration in terms of having the opportunity to vote in and out prime minister's. three years ago, people voted interval -- voted in malcolm turnbull but would like to vote them out if they could in the next election. haidi: two of the biggest issues for investors and for the future of growth in this country lie within tax policy and energy policy. in both of those areas, we are seeing policy paralysis. is this likely to change regardless of who leads the country? there issting thing is no real discussion about changing policy. turnbull overcame tony abbott some years ago now, there wasn't a decision to change policy. the interesting thing is policy is at the core of these debates rather than popularity. it seems misplaced a link the co-election this coalition of whichever party to victory. i would not look at the economic or social policies of australia, but it might be a circuit breaker

and australia's prime minister is facing a party mutiny that's thrown the government survival into doubt we'll look at why no australian leader has served a full term in over a decade. i'm brian thomas thanks so much for being with us we start with some breaking news just coming in from france one person has been killed two seriously wounded after a knife attack in the paris suburb of top french police say the attacker has been quote neutralized by security forces after trying to hide in a building let's go live now to lisa lois she's the the views correspondent in paris lisa what can you tell us right now. well for the time being we're just hearing news reports that the person has indeed been killed by police but the police have not confirmed that yet they're also reports that he was part of a database about twenty five thousand people in it with people who are not to be run flies again these are confirmed reports and the french media also reporting that he was yelling. so go to great when he was doing this attack. and that would obviously be an indication that this was a terrorist atta

this is ridiculous so look at the interesting thing that's happening in australia that we know so we were there one of the things that was product a lot was how much controversy came when hillary clinton came to speak and started telling sort of pushing a certain kind of agenda of how they should do their foreign affairs and a lot of astray and were very upset by that the idea of this american coming in and telling them not so i wonder if this has a lot to do with the sort of that conservative versus liberal which is a different thing going to surveil you than we have here that there are these two joining forces that are sort of the corporate politicians and the other people but i find it interesting that they would have a problem with chelsea manning when in two thousand and fifteen they didn't have a single problem with general petraeus who right after he copped a plea and centrally you know pled guilty to to doing what chelsea did but at least he did it for. a noble reason david petraeus just did it to impress his girlfriend and he gets to go to us yeah this is of so going to be w

and you're watching "daybreak: australia."irst news with jessica summers. >> turkey remains under pressure from all sides. the first steps to bolster the financial system were seen as insufficient by some analysts. president erdogan again lashed out at the u.s. saying higher rates were impossible and that he would not accept any international bailout. the fallout from turkey's emerging markets sending stocks and currencies so -- to their lowest in a year. the rand's one perfect month volatility the most. and the peso touched 32. emerging stocks the cheapest since early 2016 which saw the start of a two-year 60% rally. wall street remains divided over tinsel's privatization plan. that's after elon musk's tweet. he left the july meeting with "no question that a deal could be closed." that means funding is not secured but gene munster says the financing question has been answered. stocks and ing 18 deleting four from its index after a quarterly review. a -- y addition will be acwi. that's what's happening at the close of trade on

still to come on daybreak australia. plenty more.s is bloomberg. ♪ ♪ biz we are just getting some movement in the aussie -- the kiwi dollar, in reaction to our conversation earlier with z's adrian orr saying that they are not moving out rate cuts, and they are certainly in no rush to be raising interest rates. the kiwi dollar had been falling overnight on these trade concerns, and doma since to be doubling down when it comes to the trade war in china. saying that he is pleased with the kiwi exchange rate behaviors, helping economies in an export driven economy like new zealand. but he said that they are not ruling out a great cut. he said that they are evenly balanced when it comes to the rate outlook there. that conversation taking place at jackson hole. coming up, prime minister position heading in the balance. another vote is coming up in a few hours time. we will get the latest on australia's political turmoil next. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companie

how do you see sort of the development space figure in to australia's initiatives in the region? i'd also be more generally interested in what you're thinking about the health of the overall region economically. >> yeah, yeah. economic policy and foreign policy -- [inaudible] economic development's fundamental to a country's outlook. we've been working with the countries in that ring for a very long -- in that region for a very long time on development. part of our development assistance is infrastructure. we'll probably put in around half a billion dollars into infrastructure in the next 12 months in infrastructure projects. but it is really important as both of our other panelists have said to be able to deliver to the private sector development, because we cannot meet the demands of infrastructure in the region if we're unable to effectively leverage private sector development. and if there there isn't infrastructure development in countries, they can't get product to market, they can't grow, people in rural communities will be heft out. so it is absolutely critical. so develo

businesses across australia are on a strong trend line. with $60 billion worth of production and the leaders of the industry are still aiming for a80 of the industry are still aiming for a 80 $100 billion industry. however, it has upset and downs and despite the drought‘s significant impact on the drought‘s significant impact on the well—being of particular farmers in the areas that you have mentioned. agriculture is about 3% gdp, if you flow that down through reduction and food, it ends up being around 12 or 13% of the gdp. so it is significant. 0bviously around 12 or 13% of the gdp. so it is significant. obviously a big chunk of our agriculture production is actually exported overseas. you are saying you are still optimistic about how the agriculture business industry will look going forward, but surely the current drought that we are seeing, the issues, the australian government has had to extend payment to farmers, surely thatis extend payment to farmers, surely that is having something of an impact? air. we came off a $63 billion year

watching daybreak australia. traders are not convinced that the emerging markets will be enough to derail the fence planned rate hike. on what investors will she joins us from sydney. a big weekend ahead in terms of .entral banks how will that dictate where investors should be looking? >> it is interesting. also, it is in the middle of reporting season. of course, the currency has recovered a little bit. the meeting of the central banks at jackson hole is reaffirming global growth for the coming wer and that is important as do want to see the continuation and so we will have to see what is taking place. it will be fascinating. >> we have some earnings coming declaring cash we are expecting a little bit of outside pressure. they were coming off tough comparisons for the june quarter. when itme weakness comes to the retail segment in new zealand. that stock is still up your today. i'm going to head back to you. to ouring back , do you agree with folks saying it is time to the little bit more on the sides? fascinati

and australia as well.ned that three of the prime minister's cabinet members have left. the finance minister certainly the biggest blow to the political capital of the prime minister now. leaning towards peter dutton who is wanting that second challenge. we are seeing more of a backdrop of what we saw a couple minutes ago when it comes to futures. whatt gains on the back of we have been seeing. of 1%. a lot to tell you about in australia. airways ceo joins us with the airlines results. it posted another record of profit. the boosted dividends higher. also announcing a share buyback. and thehave a earnings politics, the storm that is looming in australia right now. by the university of texas, david fierstein. this is bloomberg. ♪ yvonne: 8:00 a.m. here in hong kong. we are live from bloomberg's asian headquarters. welcome to "bloomberg daybreak: asia." the tension eases on wall street. markets shrug off political turmoil at home and abroad. the latest message from the fed, they show a readiness to continue h

you are watching "daybreak australia."wall street stocks have halted the longest slide since march. investors are brushing off fears about turkey, at least for now, and the u.s. dollar has hit a 14-month high. treasuries are falling, but how long can this last? -- thanks for joining us. take us from the 30,000 foot level here. in your note, you say the u.s. ptor, when this disru in the past it has been a peacemaker, and it doesn't appear set to change anytime soon. todd: thank you for having me, ramy. the way i look at it right now, the world is starting to weigh in on this, but there has been a paradigm shift where we have gone from being the world peace maker to this world disruptor, and it seems trump should have two more red hats made, one for each, because we put them on, take them off whenever we want. this is creating some uncertainty and concern.turkey is feeling the brunt of it right now . argentina is getting a piece of it because of what's happening in turkey, getting caught in that for tax, so it creates a lot

remember, australia, many parts of australia, are in the grip of a terrible drought.ate for support, and yet here we have a government effectively now in limbo because they can't decide who they want as prime minister. hywel griffith there. we will hear more from hywel as things develop but this coming in from reuters, we're hearing the australian government has moved to adjourn parliament on thursday, allowing the ruling liberal party to hold a second leadership vote for prime minister. as we were saying, it looks like malcolm turnbull is manoeuvring within the party to arrange treasurer scott morrison to be his anointed successor to compete with peter dutton for the leadership and for the prime ministership. we're hearing several senior ministers have now tended their resignations and called for a second ballot. that story moving pretty fast now. stay with us on bbc news, still to come: the second separation for korean families, briefly reunited after decades apart. washington, the world's most political city, is today assessing the political health of the world's m

bolt‘s been training with the central coast mariners, who play in australia's top flight, as he lookst. the side play a pre—season match in the next few hours, with bolt expected to play the last 20 minutes or so. around 10,000 fans are expected to watch. roger federer‘s run for a sixth us open title continues after he beat france's benoit paire to book his place in the third round at flushing meadows. federer struggled with his serve at times but came through 7—5, 6—4, 6—4 and faces australia's nick kyrigios next. it is always tricky against ben wyatt pair because they think against one another, there is a lot of tactics going on. —— benoit paire. sometimes he will play deep in the court, then up in the court. that is maybe why you draw errors out of each other, and then the match maybe doesn't look as good. plus, he covers the court to very well. so sometimes you have a tendency to over players well. at overall, i'm happy. in the women's singles, angelique kerber was among the early winners on day 4. the numberfour seed is bidding to win back—to—back majors following her victory at

bome are already talking a who australia's who australia's 31st prime minister mif be. hywel grth, bbc news, canberra. jane: you are watching "bbc world news america." tostil come on tonight's program, they are young, they are energized, and they are fully behind donald trump. we meet the new voters fully supporti ththe impact otrade war between the u.s. and china is being felt all around the world. china has slept import taxes on imports. vethey couldan opportunity for other countries to step in. in today's world, it is never as simple as it seems. porter: competition is fierce in global markets, and there is e country with a huge appetite, china. tariffs have the power to disrupt competition, but some eventually lose out. the biggest loser is said to be the u.s., which faces tariffs that china is imposing on u.s. pork. other countries are scrabbling to take over that share. some farmers like the idea of a trade war between china and the united states. take producers i brazil, for example. farmers in this region of the country want to double their production over the n

australia is a land well used to nature's extremes.abited continent, but the resilience of its farming communities is being severely tested. south—eastern australia is in the grip of a drought worse than many can remember. it's had one of its driest autumn is on record. winter hasn't been kind either. last month was the second hottestjuly ever documented. new south wales is australia's food bowl, but in many parts the land is cracked and parched. official figures show that the entire state is in drought. two years ago there were floods on gary sunderland's farm near the town of condobolin. how quickly things can change. now it's just the opposite story, the dams have run dry, no feed. the cost of feeding livestock has soared. many cattle are desperate for water. government aid will ease the financial burden is on the prime minister is promising more help. i do understand these water challenges and clearly we will work with state and local governments to ensure that water is provided. while government assistance is welcome, it's ultimat