more with the lender's chair, axel weber, next. this is bloomberg. ♪ francine: economics, finance, and politics. this is "bloomberg: surveillance ." i'm francine lacqua in london. let's get back to our conversation with axel weber, chairman of ubs. thank you for staying with us. we talked about consolidation within switzerland. what would it take for cross-border consolidation in europe to happen? axel: i think what europeans need to acknowledge is the way they tried it so far to get a banking union has worked -- hasn't worked. we are still quarreling about insurance, still don't have a capital union and i've been arguing that what europe needs is a think tank at the talk -- big bank at the top. it needs a new legislation that creates a european league of banks that can operate across the european union. pretty much what the united states did with the national banking act. mind you, that was in 1863, so europe needs to have its european moment for the banking union and capital markets union and that can only happen if there are eur

axel: we do believe so, absolutely.hink the focus is one thing, but the other thing that is a more of a political angle, what we do believe we can see is do entera platforms their customers business systematically wants the customers are successful. you can look at spotify and what happened to them. you can look at our example was ther ipo, which biggest ipo in the u.s. that year. we got more visibility. we believe in innovation driven say.tition, as you rightly it has to be fair, that is why we are in avery of the dma that should be announced later today. anna: i tried using google to find a hotel in brussels -- i'm not going anywhere obviously -- but i tried to find a hotel in brussels, and one at the top was booking.com, then the google service, then your service and other competitors further down. you areat you feel de-prioritized in the search, or that they are using information from their customers from other looking sites to power their product? is there more to it than the lists that you see when you search? it

axel: axel's lover -- weber speaking to francine lacqua.p next, pbw investment manager says investors should get used to u.s. markets underperformance. this is bloomberg. ♪ haidi: asian stocks slow at the open as coronavirus are weighing on assets. our guests as a healthy fallback is ahead and expects a golden age of asset allocation. great having you with us. in this day and age of upcoming vaccines and global liquidity, where does the u.s. that in? it has been interesting -- when you have these moves, we call them the great rotation, no longer a trade but a great rotation of which novembers performance was a down payment. when you have these moves away from the u.s. to non-us markets away from tech to cyclical and value, it tends to last for a long time. the u.s. has been the dominant place to be whether it's equity, bonds, currency since the bottom in 2009. i think we are seeing just the beginning of a rotation away from the u.s. because we are in a global economic boom. next year we will probably see the best growth in almost 50 years,

axel: no sea mensa, ¿cómo va a venir la maestra a la casa?

up including an electronic form for vaccination with sputnik the governor of borno saris province axel kiesel your who was the 1st to be vaccinated in the region and held a press conference detailing the significance of this new step in the fight against the pandemic as the country now has new tools against the virus. it seems to me the today's the begin the news teach for us largest vaccination company in the history of the province of when osiris begin this morning and this is a vaccine that not only prevents disease. but also represents a real triumph as an supergroup dilution in the fight against girl in the worse it is also worth noting that every. and will be monitored for possible side effects so that as soon as the 2nd doses of the vaccine arrives they can receive them on time and in proper form according to preliminary data over 20000000 doses of the vaccine will be delivered in january and february 1 of the main goals is to have a new level of resources in our arsenal by the month of march to fight the pandemic and especially important for argentina with the 2nd wave of coron

exports go to the european union and it's often the 1st ephesus descent of the share most of britain's axels who continue to go to the european union us on the difference of those that is a shim and of course the free trade deal is not reached between london and justice only a few months ago pizza britain secured a very highly impressive trade deal with chip pads now barely any of the newspapers in britain were caught in on that and it is very significant because often the british people decided that they wanted to leave. the european union in june $6016.00 the nearly it was a saying that foreign investors for example the japanese would pull out of britain well not only did they not collapse after 4 and a half years but they have now signed as i said a mightily impressive trade deal with britain so foreign investors such as the indians the japanese and the chinese and offices all remain in britain and also a piece of the british economy is one of the most powerful is one of the most one of the most rude us in the world it has been around for centuries the fact that britain might not secure a

doses were sent to the so-called greater point of salaries the governor appointed salaries province axel who was the 1st to be vaccinated in the region but held a press conference detailing the significance of this new step in the fight against the pandemic as the country now has new tools against the virus and it seems to me the to do use the begin the news teach for us largest books the nation can be in the history of the province of when osiris begin this morning and this is a vaccine that not only prevents disease. but they also represents a real triumph as an supergroup pollution in the fight against girl in the worse it should be noted that more than $315000.00 volunteers in the province of boy desiree signed up including an electronic form for vaccination with. at the same time according to reports from authorities the vaccination schedule is designed so that all medical personnel are vaccinated 1st in total 110 hospitals and 89 municipalities in the province received the vaccine and did not kill 8 their doctors and nurses but what is happening in the autonomous sitio toyah sorry

over to get a deal from such the extent of the openly that axel's will not be as before a little bit of the united kingdom has a great interest in a deal because. the scottish fishing interests would be badly damaged if they would no longer accept the earmark though. we can speak of mutual interest your 2nd point of contention is so-called level playing field some kind of strange check that. the e.u. intends on the on the u.k. now i think brussels has made it clear that it will go on that as long as the so-called governance arrangements. which are sort of the availability of an arbiter to post finding solutions only you create in case they would not respect terms of that street checketts. as long as that is are i personally would expect it's a privilege not a grown up i think john's will look all that he will say ok fine as long as we get all. we are willing to accept binding our words or you to and then. impose what has been a great. outcome of those backs that talks could impact the u.k.'s covered 1000 vaccination program that's joel out from tuesday china how has more from outside

land in beacon not another storm is brewing so we change modes of transport from helicopter to triple axel jeep. will need the 6 wheel drive. north of the arctic circle the roads come to an end. we're traveling 200 kilometers as the crow flies our average speed is just 11 kilometers an hour. as the uppermost layer of the permafrost has thawed driving is like taking i'm not bad sometimes the riverbed isn't as bumpy as the road running alongside it. at some point we stopped counting the number of flat tires. there's just one settlement along the route at the winter quarters of these no magic reindeer herd as our team attracts a fair bit of attention from all the good editors are. they really receive visitors music is a universal language. i learned that if you. read an article or a d.v.d. about god where it hurts you know it is all of you that. were in the chukotka autonomous home to the indigenous people double the size of germany it has just 50000 residents. joining the night our drivers get hungry. in the early morning hours we reach our destination. than carry him. only 190 people live h

he didn't say which is that she didn't see it nor did the best help that interests of the country axel so you saw the whole matter is great concern you can see this is more across the u.k. there's a lot of groups. cigar was not only national arts. law terms which is. cool the most will be. large so it's all part of the government's. version since march alone so on oh sorry to interrupt you and i was going to say we're going to have to wrap up there because we've run out of time but we appreciate your thoughts on this that was a political commentator anthony weber thanks for joining us where do you think you're in for. another news the turkish president calls for a change at the very top in france slamming a man you macron and calling him a burden relations between the 2 nations have had a serious low is paris looks to crack down on a wave of radical terror. kron is a burden on france mccrone and france are going through a very dangerous period actually my hope is that france gets rid of this mccraw in trouble as soon as possible. from the middle east correspondent paula slayer paula go

a bin number for axel the world trade center bombing in new york, mohammed, they found the vin numbern the axle and got him because of that. you think that will get to this person? human tissue said to be found by overly not a bystander. >> unfortunately in our country, criminal terrorism bombing has become effective over here. the information is coming at light speed, consuming, you have to eat it one bite at a time. in this case, multiple people. they will have the forensics of the site, explosives, the information from people and they will make analysis and yes, there's so much evidence from the vehicle, delivering axles of devices such as this and information coming in, i'm very confident in the process and partnership they have there in nashville of what's happening, they will have answers pretty quick. not only that but they will be able to construct exactly what the device was, the exact timeline and he was involved. i think that information will come quickly, they just energy a lot of information they have to be effective. they are not revealing too much because if there is so

it was interesting listening to axel weber, the chair over at ubs, still singing the praises of londonlking about the fact that the fragmented nature and the zero-sum game nature of the way that the european union divvies up its financial differentn terms of notes is going to cause a problem. that is going to leave london probably still in the driving seat. alix: i wonder what that means for commercial real estate because commercial real estate was already struggling before in terms of that. we've seen a lot of retail jobs had to go bankrupt or close. these were supposed to be the particular tenants. -- ii think what are think what you are going to end up here is a real to speed market with real estate, particularly here in london. the prime buildings are going to continue to do really well, but the second tier, third tier buildings i think are really going to struggle now, and i think that is going to invert over the next few years. the european close coming up next. those are the numbers. this is bloomberg. ♪ are you frustrated with your weight and health? it's time for aerotrainer,

my boys, ashe and axel dressed as turkeys ♪ >> happy thanksgiving. >> happy thanksgiving. >> we are turkeysatch what we can do ♪ [ talking over each other >> seth: stick around. we'll be right back with more "late night. ♪ you've got, oculus... you're late! let's do this! bring it! woo! haha. whoa! rated t. ♪let's go!♪ ♪ our great street, huge yard. there is a bit of an issue with our neighbors fencing. neighbor 1: allez! (sound from wind chimes) neighbor 2: (laughing) at least geico makes bundling our home and car insurance easy. which helps us save even more. neighbor 2: hey, sarah, hey, peter! neighbor 1: touché. neighbor 2: ahhh! neighbor 1: pret! neighbor 2: en garde! for bundling made easy, go to geico.com come on tucker, let's go.k? tuck, tuck, do you want a walk boy? tucker, do you want to go out? when the whole family needs an excuse to get out, nutro's clean recipe will help your dog keep up. [crash] [splash] ♪we're undeniable ♪ finally, a mopping cloth that kills 99.9% of germs from clorox. with a touch of honey... plump, juicy raisins and tasty fiber into one delicious cereal? i

i could not sleep because for the last four evenings, my son axel, who is two years old, has woken up of the night to scream as loud as he can. "dada, i want to go back at halloween. over and over again. and he's really loud and my son ashe is right next door to him and we don't want him to wake up ashe, so i have to go in there and i have to tell him and explain to him that i know he loves halloween but it has already happened and i also have to tell him that if you're going to say it at all you should say "i want to go back to halloween. and when you say "i want to go back at halloween," you embarrass yourself that is my son, who was born in our lobby of our apartment building and i was walking out of our apartment building today and i love it so much. i love our new york city apartment so much, especially because it's where my family lives. every day with young kids you have another memory and it just feels like a home. but for what seems like forever, there has been scaffolding outside our apartment and it is just the ugliest scaffolding it is a blight and they constantly tell us

to get a deal from such the extent that openly that issue is axels will not be before a little bit of the united kingdom has a great interest in a deal because. the scottish wishing interest would be badly damaged if they would no longer accept the earmark though. we can speak of mutual interest your 2nd point of contention is so-called level playing field some kind of strange check that. the e.u. intends on the on the u.k. now i think brussels has made it clear that it will go on that as long as the so-called governance arrangements. which are sort of the availability of an arbiter to post finding solutions only you create in case they would not respect the terms of that street checketts. as long as that is are are i personally would expect it's a privilege not a grown up i think john's will look all that he will say ok fine as long as we get all. we are willing. binding our words or you to and then. impose what has been great on the outcome of aspects that talks could impact the u.k.'s code the 1000 vaccination program that's usual out from tuesday jan how has more from outside a ho

to get a deal from such the extent that openly issues axels will not be as big or a little state of the united kingdom as a great interest in a deal because. the scottish fishing interests. which would no longer. the e.u. markets so. we can speak of mutual interest the 2nd point of contention is so-called level playing field some kind of strange check that. the e.u. intends to impose on the on the u.k. now i think brust has made it clear it out there willing to be flexible on a strong and the so-called governance arrangements which are sort of the ability of an arbiter. finding solutions only in case they would not respect the terms of that street checketts. as long as that is. i would personally would expect it's a prediction i may be wrong but i think we're in john's will all but he will say ok fine as long as we get along. we are willing to accept binding our words or you to and then. impose what has been great piece i know a number of the european countries actually been saying that no deal is better than a bad deal i mean obviously there is yet trix a negotiation is going on here b

but jamie vardy‘s strike deflected in off axel tuanzebe to give brendan rodgers' side a point. point behind united. they're still unbeaten in december after goals from ferran torres and this one from ilkay gundogan helped them to a 2—0 win at home to newcastle united. elsewhere, aston villa beat crystal palace while fulham and southampton drew 0—0. those in attendance were very proud to watch the game yesterday. rangers made it 12 scottish premiership wins in a row after a hard —fought victory over hibernian at ibrox. steven gerrard's side had to work for the win, the only goal of the game coming in the first half from ianis hagi. that keeps them 16 points clear of celtic, who were 3—0 winners at hamilton. exeter‘s final match of 2020 went the way of most of the others. they beat gloucester 28—20 to stay top of the premiership — having recovered sufficiently from a covid outbreak in the squad. england forward sam simmonds scored two tries for the chiefs to maintain their perfect domestic record this season. bristol are second after beating harlequins while northampton. —— while

. >> i wonder how you see policy incentives moving that along axel rating the change in consumer behaviorthe latest fda aprooufrl means. >> fda approval for iqos, both the modified risk product authorizations and a pmta, a technical term a version of iqos is important the science evidence which we have provided behind the device, behind the system is meeting the fda standards. this is the highest standards which you can see any on any international markets. we are very proud, you know, the steps we have taken for so many years to bring the regulators, authorizing the cost from the perspective of promoting the public health. i think it's for us -- i mean, it is very encouraging to make the progress and adjusting the regulations in a different market, a different level. consumer smokers will have to have an access to information about the product so there is ofly space when the egg lay or thes can create the space and there's access to information and need access to the product and as many governments and many countries recognize there's also the question from an economic accessibility of t

be aware of that >> he had an interview with the ceo of axel springer, which is a publishing company,ly talked about the possibility of buying another company you wouldn't do a hospital takeover but if a company said hey, we want to sell to you, he would say we'll take a look. elon musk was definitely out there very fascinating guy jeff mills, what do you say about tesla? >> so i'm going to fade it here. i mean, obviously the momentum is hard to ignore, but i'm going to plagiarize two of our esteemed fast money colleagues carter worth and dan mason first of all, from a technical perspective talked about this last night you've had this pop consolidati consolidation pattern over and over again i think this is the fourth or fifth time it's happened this year, so i think you're going to end up with a consolidation period over the next number of months, so you've probably got a lot of backing and filling around that 590 to 710 level i wouldn't necessarily be chasing the stock here higher. and also, at a $660 billion market cap, it's greater than the entire global auto industry. it has just