watching the bank of australia. announcing its plans.e are watching bhp group and union leaders in chile. they are getting closer to a wage deal that would avert a strike at the biggest copper mine. hell experts are urging new zealand's government europe lead -- to complete its vaccination rollout before the start of reopening the border next year. this is bloomberg. coming up next, we get the latest on your governor andrew cuomo stepping down over the sexual harassment claims. we'll be taking a look at how we got there. what comes next. shery: we do have an alert on the hot -- on the bloomberg. the autos saying they will be raising $11.6 billion in the hong kong listing. they say trading will begin august 12. the hong kong listing retail offer was 5.5 times subscribed. we know it will be the second u.s. trade chinese ep maker to list in hong kong. we had a larger rival raising $2.1 billion in the primary listing in the city back in june. does as we continue to see the scrutiny on chinese shares stayed in the u.s. and other listings happ

the bank of australia has unveiled a record $4.4 billion share buyback while boosting the dividend. 6.4lion u.s. dollars, the economic recovery -- loan profits fell. delivering far more than its peers. shipments of tesla's china-made cars plunged last month. exports from its shanghai factory however increased, with most destined for europe. they are facing rising competition from local startups. a tennessee factory after one of its malaysian suppliers was forced to shut down due to the covid-19 outbreak. it expects production to resume at the end of the month. much more to come. this is bloomberg. ♪ comcast nbcuniversal is investing in entrepreneurs to bring what's next for sports technology to athletes, teams, and fans. that's why we created the sportstech accelerator, to invest in and develop the next generation of technology that will change the way we experience sports. we've already invested in entrepreneurs like ane swim, who develops products that provide hair protection so that everyone can enjoy the freedom of swimming. like the athletes competing in tokyo, these entrepreneurs

more of the same in australia as the as sexes up the nation's biggest lender, commonwealth bank of australia said wednesday, it will return $7000000000.00 to investors and buybacks and dividend, as it's our massive profit amid it's quick economic recovery. something to keep an eye on here though. business competence in australia fell 900 points in july, amid new locked down to combat the spread of the delta barrier. another green arrow for the all share in south africa business competence in south africa also took a hit in july, falling to 9 month low following those riots that cost the economy more than 3400000000 dollars. the south african ran also took a hit this week, giving up most of the game scene and 2021 training about a half percent lower than at the start of the year. now let's go over to rachel for europe in the americas. thanks, brent. here we start in the u. k, where the foot see is up now as we mention this march london longest weekly winning streak since november with the index heading and 18 months high on wednesday, the latest data shows the u. k. the economy grew by faster

in july fell significantly as city face to coven 1900 related lockdown while the commonwealth bank of australia, also down where the revised 3rd quarter g. p. predictions to a contraction of 4.25 percent in south africa, they all share is also up for the week. most of the games came early up about one and a quarter percent. on monday alone, sentiment continued to swing up as the economy was nearly 11 percent or $37000000000.00 bigger in 2020 than original projections, according to data from statistics, south africa and again, the nation treasury said economic damage from riots in july could cost between point 7 and point 9 percent in economic growth for 2021. now let's check in with rachel for europe and the american. thanks brent. here we start in the u. k. where the, the is up, the energy mining and health care sector, school games for the index this week with b, p oil and gas up nearly 35 percent, and anglo american mining up yearly, 7 percent for the weak. this as a growing labor shortage threatens the countries recovery will take a more in depth look at that coming up and nearby the german

zealand have seen cases increase while thailand has now passed. 1000000 infection reports from bank of australia's biggest city city seeing a surge of new cobra. 1900 infections will now be unlocked down until the end of september. people in the worst hit suburbs or faith a nighttime curfew. the cities, 5000000 residents, are now required to wear face mass outside. the wider state of new south wales has had 3 consecutive days of more than 600 new cases with drug everything as piece. and now it's time to bunk down and i can't stress that enough. any time all of us to bunker down, take the said seriously as we can, although the so many of us have the vast majority have this 3rd wave in australia, fed by the delta virus made its way to new zealand this week. the nation was living free of covered 900 for 6 months until tuesday, when a case was discovered linked to the outbreak in australia. a snap national lockdown was extended until midnight next tuesday, after more cases were detected in several cities. 11 new cases were recorded on friday. we just don't quite know the full scale of this delta outbr

bank provide a total of $830,000 for inappropriately collecting and inquiring about credit information. the postal same is bank of china is bridging the account management rules. coming up next, as australia new zealand rethink their covid zero strategies, what the priorities should be, we will discuss that with our guest. this is bloomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. weirdo whiteley -- >> you are watching daybreak australia. we start with president biden who says he may extend the august already first deadline. -- 31st deadline. he is extending efforts to evacuate americans who struggled to reach kabul airport. 7800 people were airlifted out of afghanistan. the exiled central my chief has warned the telemann government is facing a potential economic crisis. they may see renewed weakness after the currency reache

of central-bank decisions this week. thursday, the bank of england. tuesday, australia. wednesday, thailand. friday, india as well.ng this week. today, hsbc coming out with its numbers. we get a preview of what to expect. >> we are expecting to see firstly that credit costs don't come down quite as much as maybe people are hoping for, quite as much as we saw with some of the biggest banks in the u.s.. that is partly because hsbc has not taken that much in the way of provisions in terms of loan loss reserve build during last year. another concern is that net interest income is a fair degree lower, and this could be an unintended consequence of the bank having de-risked its loan book during last year. david: your implied move when you look at options, hsbc, 2%, that comes out with earnings in a give or take 15 minutes from now. this reversal we are seeing also , keep your eye on that as we make our way to the next hour. ♪ ♪ and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine has 5g included. impressive. impressive is savi

of sexual harassment. haidi: let's take a look at the day ahead for australia and new zealand. we will be watching for reaction as the banknew zealand -- after the bank of new zealand august meeting. sources say an announcement could come as soon as this month. we do have plenty more ahead here on "daybreak australia." this is bloomberg. ♪ and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine has 5g included. impressive. impressive is saving four hundred bucks a year. four bucks? that's tough to beat. relax people, my wireless is crushing it. okay, that's because you all have xfinity mobile. it's wireless so good, it keeps one upping itself. - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes

of the opec meeting. more, next, on bloomberg -- more, next come on bloomberg. this is bloomberg. ♪ ♪ >> you are watching "daybreak australia." let's start on the equities front. underperforming u.s. and europe, the banksig comeback. momentum is set against a backdrop of a long-standing reopening trade. if we move onto japanese stocks, they had their best month since march after gaining about 1% tuesday to close out august. still looking ahead to us really edgy peel later, both city and amp revise estimates higher, with amp x betting at 3% gain and citi it 0.5 gain. -- a 0.5% gain. a smaller drug from net exports. >> and of course, commodities key to australian growth. we are seeing on the minium at a decade hi, oil has been under pressure. it's been the worst month this year so far for crude. let's start off with the latest on opec and france. what did we hear? >> opec-plus is expecting oil markets to continue to tighten this year, even as they are expected to boost output. they think that situation is going to flip and 2022 -- in 20 22 and end up with a big surplus. it is also expected to allow open producers to feel comfortable with their expert the decision to proceed with the output increase in oc

in zacko, which is the lowest ever school in this format of the game that complete before one theory, when for bank, who had never beaten australia before the for the all these, it comes off the back of another for one to see the west indies warning signs with the t 20. well, couple to you. a and a mon coming up in october, australia is innings. loss to just $82.00 balls, which is the shortest and 144 years. 9 of the 11 batsmen failed to school more than 4 runs. it is the lowest school by any seam paying against band dash in t twenties. but it should be said that austria were without some of their biggest names, including david warner, bangladesh saw psyche by her son became the 1st editor. take 100 wickets and score 1000 rums in t 20. out there a spoke to form of bangladesh, christa ali khan, who believes they have the ability to compete, woke up based off delivery. now he started to realize we can actually want to surprise stronger opposition and do it on the consistent basis. i think they started to realize that if you were young in this moment, then they're going to give a very good i mean, i presume is building up to do and

bank call. from south korea down to australia, a search of new cove in 1900 cases, fueled by the highly infectious delta. very, it has government scrambling to respond, australia's capital camera entered a one week locked down. the city reported its 1st locally transmitted case in more than a year in the austrian capital territory, a c t. this decision is as the result of i positive cove at 910 case in the territory. a case has been infectious in the community. we also have positive weiss, water detections around the i say tell you to of australia's largest city sydney and melbourne are also seeing high infection rates despite weeks of being locked down for the 1st time. in the panoramic. south korea posted more than 2000 new daily cases earlier in the week. it led to a plea from the government for people not to travel this upcoming holiday weekend. we do government journeymen coordinate if we don't stop and corona virus won't stop . i would like to say to the public that we ask you to refrain from traveling to stay at home during this liberation day holiday. we take as many of the new cases are o

the acropolis of athens and in the cottage and palace along the banks of the euphrates and the golden horn. it reached the wildes of australia and shed its radiance over many a dark african waste. american petroleum is the true cosmopolite omnipresent and omnipotent in fulfilling its great mission of enlightening the whole universe. >> [laughs] >>? -- >> bold? yes. nothing cautious about that either. as much as u.s. oil was mythologized or used as boiler plate, it also influenced got very individuals with real clout. they translated crude and christianity in their shared vision of the future into real corporate structures and outcomes. their efforts were evident in early generations of the oil industry, but they carried special weight as u.s. influence spread globally in the 20th century. two sons of missionaries i think service illustrations here. consider the first pictured above, this is henry [inaudible], the famous publisher whose parents were missionaries in china funded by the rockefeller's. in february of 1941, he used the pages of life magazine, which he owned, to beseech americans to recognize their status as prote

haidi: australia's central bank with the policy rate expected to remain unchanged. the rba government faces the prospect ofing to walk back an announcement made a month ago. the u-turn would, as the virus restrictions in australia continue to evolve. the situation in sydney derailing the broader recovery across the nation. let's get more from joe masters, the chief economist at ey. of course, after the extension, we had some downward revisions when it comes to gdp. how much resilience is there in the economy? jo: well, i guess we don't really know. at this point, there is a lot of uncertainty about how long lockdowns will last, where else in the economy they may appear. but it is important to remember the economy was very strong and very resilient going into this. we had unemployment down at 4.9%. pretty much every state was firing on most cylinders. we survived the end of. that very well. . the momentum was there. the other thing that is important to remember is time and time again, we have seen economic activity rebound as lockdowns have eased. and we have ramped up the amount of fiscal support coming in

elizabeth: they now have more black hawk helicopters than 85% of the countries in the world according to congressman jim banks. even allies like australiaou see that when you see what is going on, now we've got mark penn, former top clinton advisor saying this is a political disaster. it could cost democrats in the midterms, will this undercut the tax-and-spend push by the democrats on capitol little? >> well let me say this before i answer that question. there is a catastrophe. it's a human catastrophe and a national security catastrophe what we're watching here. it is something like we haven't seen in my lifetime. so then the question you're asking is, well is it such, does it weaken the president, does it weaken the democratic caucus such they can't push the legislation through. in any other universe where things make sense, it certainly does. elizabeth: wait on. stay with me. because the biden poll numbers are dropping. voters don't feel safe. are you hearing on capitol hill democrats may say oh, we'll not go along with this, we'll peel away? show the viewer what they're talking about in the way of tax hikes. show the viewer in term

of the chinese regulatory story around tech? what is driving that? tim: it is specific to japan, australia where you have a banking a domestic slowdown story as a consequence of covid lockdowns that is underpinning that. that is probably the main driver. it is not to say that the china story in our view is negative, outright negative. it is more neutral relative to the u.s. and the eu. that is the primary driver of it. anna: thanks very much, thanks for joining us. thanks for spending time with us on the european market open. let's take a look at stocks that are another the move this morning. the chinese tech latest moves. we have seen tencent is one of the chinese equities that is bouncing this morning. that is also moving higher. let's go to the commodity space. it has a chinese angle. iron ore prices have really been flying this morning, so we see some of the mining stocks doing quite well. we seem to be all about the upside this morning. let's get to dark trades. up by more than 2% and it continues to be, up by 2.3% right now. we talked earlier about how cybersecurity stocks in europe and the u.s. could be act

another day of record covid numbers in australia after violent anti-lockdown protests in two of its biggest cities. a live report from sydney. that is just ahead. you're watching cnn. at pnc bankwe believe in the power of the watch out. the “make way, coming through”... great. the storm alert... dad. and the subtle but effective ding. that's why we created low cash mode. the financial watch out that gives you the options and time needed to help you avoid overdraft fees. it's one way we're making a difference. because we believe how you handle overdrafts should be in your control, not just your banks. low cash mode on virtual wallet from pnc bank. (vo) how do you know when you've found your team? whether you're winning, or just doing your best. when you're on the lanes, they're right behind you. reunite with your team. go bowling. (brad) people everywhere are discovering how 5g can change their lives. but apartments-dot-com has changed millions of renters' lives by helping them get into new homes. so, we already knew all about the power of 5g. we've had it in every town and city for years. and also 6g. and 4c. and 2r. and 7l... what else would you expect from the site with the

let's bring in the head of asian market strategy and research at national australia bank -- bank, chrissyeat to have you with us. now that we see them moving to a virtual format, we are seeing how central bankers are worried about the global economic recovery, the spread of delta. jay powell has said the path to the recovery depends on the path of the virus itself. what are you expecting out of jackson hole? how worried we -- how worried are you about the hit here to the global economy? guest: i was if you look at the price action in the financial markets, it shows that everyone in every asset space is pretty sensitive and very, very reactive to what is upcoming and at jackson hole, it being a virtual event, i think that actually raises the anticipation that chairman powell basically has to really put across the context to the tapering expectations very very clearly. that is a big challenge. we also have to take into account that he might not have a very different kind of tone as to what he has been betraying towards tapering, because there's also the fomc meeting on september 22, another

new zealand found six additional cases of covid-19 as it begins a nationwide lockdown connected to a single delta infection in australia. the new zealand central bankterest rate hike earlier. the decision was made and it signaled it will start tightening soon. south korea wants 70% of its population vaccinated by the end of september. in an exclusive interview with bloomberg, the prime minister said his government will continue aid to small businesses hurt by social distancing measures. >> one of the reasons south korea has succeeded in prevention is because of lockdowns. >> local officials in haiti have raised death toll from the 7.2 earthquake to more than 1900. rescue work has been hampered by tropical storm grace. the national hurricane center said some places have been hit with his much is 38 centimeters of rainfall in haiti. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine: thank you so much. tencent is expected to post its first profit decline since 2019. the earnings may also be overshadowed by questions on the regulator

australia and new zealand. this company has taken about 6% of the credit card market from the big banks there.is obviously a growing business. square recognized it. that is why they're paying up. i love the fintech space. square is the top play for us. >> yeah. there is a company quarna, might be the number one private company in the space when it goes public, the whole world will know about this. let's talk about china a little bit, sylvia, a couple big names. their sales up 250%. xvane 225%. tesla with competition. are you looking china ev or where are you looking now, this is your wheelhouse, no pun intended? >> yes. so you know i'm looking at china ev but overall i am sticking to tesla. i just don't think you can bet against elon musk. he is a genius. he always comes back. the stock will have volatility and potential issues, number one being china and number two, the shortage of semiconductors. this eventually will get resolved. it's a growing market. ev is only 2.1% of the entire automobile market which is an fire this year and growing. charles: yeah. >> i think they have the best product

of finance. su: you can hear more from that interview with the acting afghan central bank governor on this podcast. you can listen on apple podcast. australialand are checking their strategies for eliminating covid-19 as the delta variant 10 uses bread in both countries. after a weekend of record infections, australian prime minister says it is unlikely they will return to zero cases. it is now relying on a 70% vaccination rate to ease lockdowns while new zealand has reported 72 active cases. taiwan is administering its first locally developed vaccine on monday. their president is among the first to get the shot developed by taipei based med engine. they are yet to complete phase three trials for the shot but has been granted in emergency use authorization. taiwan has been struggling to secure sufficient supply of the major shots. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am su keenan. this is bloomberg. shery: our exclusive interview with hong kong's commerce and economic develop -- develop an sector on the covid restrictions and outloo

recovers from one of the world's worst cove, it at 19 outbreaks and australia, the 2nd it is also up closing at a fresh record high on friday, it's getting 2 percent for the week big bank helped to push the index up while by now pay later for after pay had a fantastic week after agreeing to a $29000000000.00 buyout from the square. now the all share in south africa is our 1st red arrow for the week, but, but just slightly, it barely hit into the red. earlier in the week it appeared, it was on its way to records of its own, but that was just too good to be true. the rain fell later in the week as a nation finance minister resigned his position and made a cabinet shuffling following unrest in the country last month. now let's head over to rachel to see how things are shaking out in europe in the u. s. thanks. ran here, we start in london where the 50 is up fueled by strong earnings throughout the week . on tuesday alone, b, p saw gains nearly 6 percent as they beat earnings. all of the bank of england says it will leave monetary policy unchanged for now. the central bank did say it is looking to mean the economy office stimulus measures that were put in place at the star

we need the banking world to not continue to provide investments that further us in the direction of dependence on fossil fuels. >> you have lived in australiaetoric from the government. even after this report, the prime minister still saying they refused to commit to net zero emissions by 2050. >> it is tragic. the australian people get it. australians understand that we are in a crisis. they need a government willing to act on their behalf rather than be a rubberstamp for polluters with fossil fuel interests. there are measures being talked about for countries not willing to make meaningful commitments. there is a possibility of tariffs, of various ways of levying fees against those countries that are unwilling to make the commitments we need from them. >> given what we know in this report, is very useful model to be going by? >> we now understand far better than we did even a decade ago that how much warming we get for the foreseeable future is a function of how much carbon we have burned so far. if we stopped adding carbon to the atmosphere, the planet would stop warming up. this also tells us that our budget is narrow and adding narrowe

of disappointing earnings on thursday from australia. we could see aussie stocks extend losses. offshore yuan holding onto the 6.48 handled this morning. we also have results from several bankscarriers and other names from china. switching the board for a quick check on treasury futures, you have treasury futures trading near a two-week low as we head into the jackson hole symposium. the market pricing for tapering, shery. shery: yes, the drum is beating loud. bloomberg global economics and policy editor kathleen hays join us -- joins us. what about the delta variant, how will that affect what fed chair powell is likely to say? kathleen: we shall see. everyone is talking about where the economy should go next, where policy should go next that delta variant is a cloud hanging over the economy right now. esther george in her interview on bloomberg television, said that she doesn't see any impact on the economy just yet. >> we will have to see what impact this flare up in the virus might bring. you can imagine it might slow down the returns to the labor market, but i don't expect at this point that it will derail the economy as we saw last year when we first had to deal with th

banking. citi can steal the valuation of about $3.4 billion australian. citi will continue to serve as institutional clients as well. for nav, it doubles their credit card business and makes them number two and australia go head-to-head against the biggest. so this is the boldest move we have seen yet from their ceo, who of course took on the job about 1.5 years ago. there is a spend on technology that will be attached to this deal, because they have to build a new tech platform. investors are wondering if yvette -- if a bet like this on a credit card market that is shrinking will ultimately pay off. shery: the bill ahmed with the latest. haidi: this is a story we have been tracking in terms of the trend among the big banks. creating all these incentives to try and retain junior staff. after that infamous slideshow were we saw a litany of complaints by these young bankers. long hours, burdens on mental health, lack of worklife balance. we are really starting to see the desperation of some of these wall street banks to try and incentivize and train young talent. shery: the pandemic has really changed things. now we are seeing with the spread of the delta variant how that return to the office could be d

bank can finally come to life, senator warner's vision of that. we've been talking about that for at least a decade from my experience. look, my country of australiamostly funded by private sector money matching public sector funds and the public sector funds saw a return so shouldn't that be the way we invest with our public sector funds. so yes, i think the private sector will raise itself and be part of this because it's opportunity driven. the digital side, clean energy side, everyone wants to be part of the economy if we can get some certainity on policy, some public sector funds that actually get directed to real things where we can employ americans. boy, this starts to do a lot of things that get the business community pretty excited. maria: yeah, andrew, real quick before you go, i want to get your take on the cost of all of this from the ground. we're looking at commodities prices move up, lots of worry about inflation. where are you on this? what can you tell us. you have a much closer upfront view of how much the cost increases have impacted the actual process. >> yeah, look, i do think we've been living in this era of low inflation and

bank of england rate decision coming later this week. it's expected to be unchanged. our strategists on mliv have argued they will stick to the transitory even as inflation runs hot. we have rate decisions coming from australia major earnings from headliner names like glencore and bp. we also have the united nations leaders take on noble food costs that will deliver to the inflation -- key clues for the inflation debate. we've got unemployment rates at of the u.s., the biggest indicator and whether the economy is progressing there. anna: we will work our way towards that and we know many are focused on the jobs story. nour, thank you for joining us. that is it for the bloomberg market european open. surveillance early edition is next. this is bloomberg. ♪ ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. a

australia's biggest ever corporate buyout. the banking giant hsbc saw its profits more than double in the first six months of this year., they can resume an interim dividend after the bank of england relaxed restrictions. all great news for shareholders. in terms of guidance when they continue to guide the payout will be 40%, 55% of earnings. overall a pretty robust set of results. , , ., .,. results. interestingly have achieved this at a time _ results. interestingly have achieved this at a time when _ results. interestingly have achieved this at a time when around - results. interestingly have achieved this at a time when around the i results. interestingly have achieved | this at a time when around the world interest rates are at record lows. normally that its bank profitability.— normally that its bank profitability. normally that its bank rofitabili . , ., ., profitability. yes, your observation is absolutely _ profitability. yes, your observation is absolutely right. _ profitability. yes, your observation is absolutely right. we _ profitability. yes, your observation is absolutely right. we see - profitability. y

australia's big payment transaction company afterpay. $29 billion deal here. we've been making the point on this program that visa has a larger market value than even the largest banks, jpmorgan. it's because ofsaction payment business, and now you've got this huge deal today. your thoughts on what this tells us about where we are, whether we'll see more deals in this venue. >> yeah, i think you'll see more deals in that venue. the the payment business is a great business especially in this kind of climate when you've got a great economy, you've got rising stock prices, you've got a bunch of money flowing into the economy. so i think, i think these deals continue to go on. maria: meanwhile, the debt limit deadline expiring this past saturday, jeff. the u.s. debt crueling reimposed -- ceiling reimposed yesterday following a two-year suspension. treasury secretary janet yellen previously said the fed may need to take extraordinary measures to avoid a potential default, all this as washington is negotiating two massive bills, jeff. more stimulus coming to this economy if they can jam these two things through by august 6th which is the senate recess. that's what chuck schumer wants. your thoughts