betty: thank you.ce backyard,its hoping to become the middle man in the global flow of goods to the u.s. spencer joins us from seattle. is amazon looking to connect merchants with chinese factories? amazon is becoming more of a global or just ask company and this is part of that. they want to source it is directly from china, get as close to where the goods are manufactured as possible, and get it to the shoppers' doorstep where there are few layers and middlemen in between to win on cost and pricing convenience. it is basically just them taking that quick delivery model and supply chain and reaching deeper and deeper into it all the way to factories overseas. david: they are moving the supply-chain vertically, if you will. larges a fairly cross-border e-commerce market a lot of companies are targeting it. >> right now, cross-border e-commerce, defined as a merchant in one country selling a product to a consumer in another country, that is growing at twice the pace of domestic e-commerce, meaning merch

betty: i'm betty liu in new york, just after 7 p.m. the white house sees momentum building in talks with china this week. any plotting a new strategy, three-year move away from hardware and into more lucrative areas. ♪ betty: we are always watching the markets so closely, one big investor, or other investors like to watch is warren buffett. i wanted to pull up the chart, which i found some interesting. finally warren buffett has fangn on the thing ride -- ride. one stock doing well for him. apple shares, as we know warren buffett has shooed away from tech stocks, but he finally got on the bandwagon. he got onto apple, and they share rise of apple, the rally of apple shares, they have been his more traditional stocks like coca-cola. he has always said, that he has tried to buy stocks of companies he understands, that is why he likes coke, but not doing well for him these days. yvonne: it is interesting. it has really turned the sentiment around the fangs in particular. we saw a boost when it comes to equities. look at the volumes, still

betty: i am betty lou.nvestors are turning their attention to friday's payroll report and what it means for the economy. our next guest says there is good news for rising bond yields. are we going to close the week above or below 3%? you say there's a silver lining here. >> 3% is a nice round number. the good news is the reason rates are going up is the economy is going pretty well. needtors that need income higher yields. we are trained to think that yields going up is bad for trade prices. new areas at in higher yields. from have been taught fixed income courses that rising rates are bad for bonds. it is a perplexing thing. bad in the short-term, good in the long term. if yields were rising and economy was rolling over, that's would not be great. betty: it would not be. but i want to show you a gtv chart. it chose the flattening yield curve which we have been watching closely. it ishows you that getting flatter and flatter. it is represented by the white line. as the bloomberg economics surprise index is

betty: i am betty liu. we will be looking at how all the action on wall street will play into the trading day. something else for markets to look at today, the dovish tone of the fed minutes. slides, stocks coming back, treasury yields rising. -- the curve steepening, i should say. rising.up .2%, the s&p the nasdaq gaining some ground. let's take a quick look at how other markets moved as well on the active these minutes. you saw the 10 year yields coming down, some buying going on. the dollar has slid a bit, but up slightly. also, a slight bid under it. taking a look at the greenback overall, the green backsliding on this news. it seems like we are seeing a dovish tilt in the minutes. haidi: that statement about being able to tolerate a modest overshoot of the 2% inflation target. is almost a certainty the next rate hike will come in june. take a look at the set up in asia. the msci asia-pacific falling to the lowest in a fortnight. new zealand flat at the moment. idea that trump tweaking we might have to

betty: and it is just after 6 p.m. here in new york, i am betty liu.e will be looking at all of the action in wall street. haidi, we're just getting some lines coming across our bloomberg. to a reutersding report on u.s.-china trade. china will offer eight deficit reduction package to president trump approaching $200 billion annually. onlyis exciting, and according to some unidentified sources. betty, it is, and interesting because when you take a look at the details, the devil is in the details. haidi: in terms of how they can do this. they have said that the structural nature of the development and the stage of development we are seeing in china, and there were the economy is modeled prevents it from being able to meet these demands that we've heard from president trump. but it is very interesting, particularly as we heard little aret from these talks riyadh larry kudlow saying that they had been difficult and president trump also bringing north korea into the fray as well. betty: that's right, is it on, is of the summit happening in a june with nort

betty: just after 6:00 p.m. in new york, i'm betty liu. looking at how the action on wall street will play into the asia-pacific trading day. it was those easing trade tensions that lifted the market overall. speaking about the market, we are closely watching comments coming up from the minneapolis fed president. he is not a voting member, but he continues his dovish stance. saying, we should allow the economy to continue to strengthen. there might still be some slack in the labor market. also noting, that he is watching the yield curve for any signs the economy might falter. so still hinting a little bit more dovish. haidi: yes, talking about the sort of lack of pickup in wage growth, saying we could see the inversion on the all caps sometime this year. becoming a common refrain, by thought it was interesting we saw the pickup, that sort of recession when it comes to the haven plays in positive sentiment all on trade, given we have not had a great deal of optimism or details with these deals. betty: we haven't at all, but it was those dea

betty: i'm betty liu in new york. a backlash from some of his reporters, president trump says he is not happy with the results of the u.s.-china trade talk so far. kathleen hays here with more. let's start with the latest on the trump's team change of heat on zte. kathleen: this is one of the reasons why donald trump is saying he is not pleased with what has happened. there has been pushed back on moving away from tariffs. it is not surprising because we know after this latest meeting between the u.s. and china trade teams, this seems to be enough progress made. let's put the tariffs off to one side for a while. china is announcing the cutting of tariffs on u.s. cars. this is all positive. the next thing we learned from donald trump is ys, he is reconsidering the u.s. penalties from the commerce department that has basically shut down telecom giant zte core business as a favor to xi jinping. he said he asked me to look into this. he says he knows these penalties are hurting u.s. companies. they cannot sell their compo

betty: i'm betty liu in a new york.ging technology players. let's go to where chief asia our correspondent is standing by. we are talking competition with airbnb and china. is the main competitor of airbnb, much larger in china. we have the cfo with us at the goldman sachs tech net conference. executivesr and don't like being compared to airbnb because you are different. how so? >> they are a well-respected competitor in china, but we think we are the number one player in this industry in china. we are not just a pure online company, we have off-line operations. we have a local team in most cities in china to help local house owners to run their business. that is the big difference between us and airbnb in china. >> tell us how the market is different. maybe some of the foreign competitors would have more challenges because of the police registration process and some of the regulations. how does your local knowledge give you benefit? in china to thing do business is how to deal with the relationship with a permit. great

betty: a lot of questions. i am betty liu, it is 6:30 in new york.o first word news with paul allen. administration says it is putting the potential trade war on hold after making progress with china on reducing the deficit. treasury secretary stephen mnuchin said tariffs against beijing will be cost while an agreement -- paused while an agreement is finalized. he promised up to $150 million, and beijing said it would retaliate. >> we are putting the trade war on hold, so we have agreed to put the tariffs on hold while we try to execute the framework. the president has been very clear since the first meeting with president xi in mar-a-lago that we are going to reduce the trade deficit. we have an agreement with china that they will substantially agree to it. paul: the former malaysian prime minister will be questioned about his investment fund scandal on tuesday as the new government steps up its investigation into the missing millions. he has requested police protection and blames the new government for what he calls a campaign of slander and person

betty: from bloomberg's global headquarters i am betty liu in new york. thea said to be offering u.s. a trade surplus sweetener $12 billion a year. japan data out this hour. we will be out in tokyo as the numbers break. japan data at the bottom of the hour. in the meantime i want to pull up this bar chart which i think is super interesting. we keep talk up -- talking about the hunt for yields. this chart is remarkable. bills arehs, key returning more than 10 year france,n britain, germany, japan. you could go shorter duration and get a better rate of return than going into other countries. it shows you how likely money will flow into the u.s. markets. particularly if the dollar continues its path from bearish to neutral. up that concept of that something is misplaced out there. if you believe the u.s. economy is a benchmark for the global economy, the cheaper end. you take on very limited duration risk by getting into u.s. assets. it speaks to how cheap treasuries are at the moment. when you look at europe, that my -- might be misplaced. a very telling ch

betty: i'm betty liu in new york. have mentioned, facebook ceo mark zuckerberg has struck an optimistic tone at the conference.veloper he conference. he says he will keep building apps and tools for users despite the company's issues with fake news and hate speech. i want to bring in sarah frier in san jose who has been following this developers conference. what stood out to you in mark zuckerberg's keynote here? sarah: i think the contrast for me was so incredible. i watched this man for 10 hours in front of congressional testimony and saying the same things over and over. in front of developers, he completely changed his tune. he is almost like a preacher in front of this -- he was so passionate about the changes he was making. it was interesting to see the difference. be tonly, he needed to developers to believe in a future with facebook again. betty: i'm sure he is so comfortable in front of that audience, sarah. sarah: developers to believe in a future with facebook again. a lot more comfortable. betty: a lot mor

betty: ouch. response on snap, their ofnings, it seems a lot investors are not really thrilled with this redesign on their app. what is going on? plunged byhare price 15%. there was a miss in revenue, in eps, in daily active users. back in my bloomberg terminal, i want to show you a snapshot related to revenue growth areas we can see it basically falling , 54% was the growth here. second quarter said is not going to come in as good as they expected. chart, daily active users, 191 million. expectation was 194 million. and my last chart, a breakdown of what is happening on eight geographical acis for north korea -- basis for north korea. growth in the rest of the world, but falling here. remy, thank you. if you want to check out his charts, just go to tv and check it out in the new function. moving onto the fed, they going to their second day of the latest policy meeting as the attainment after -- of a sought-after goal. kathleen hays is here to look at what 2% inflation means. does this mean f

betty: i am betty lou in new york. you are watching "daybreak australia."'s government is expected to use tuesday's government to win back disaffected voters before trade tensions between the u.s. and china could undermine the economy. paul allen is in canberra and joins us from the lawn of the parliament house. what are the specifics we can expect in this budget? betty, the key thing we have been hearing about in the weeks leading up to this budget is a big boost in revenue for the government. commodity prices have been a lot higher than what forecast in the previous budget. there has been a boost in the tax revenues which have increased because of the losses they have been able to claim in the wake of the global financial crisis and personal tax revenues are up as well. the deficit forecast is likely to be a lot less than it was last year. surplus also forecast earlier than previously expected, coming by 2019, 2020. the books are expected to be back in the black with a narrow surplus. scott morrison has been speaking to reporters as he often does on budge

betty liu ibetty liu am -- i am betty liu in new york.tor our bloomberg kathleen hays, i know you have been digging into the key sentences and phrases. what is top of the list for you? makes it lookfomc like a slamdunk, a sealed the june ratee would be a hike. let's read the exact words. most participants, that means it was probably only jim bullard -- if it not think confirms their economic outlook, fiscal stimulus coming, it would likely soon be appropriate for the committee to take another step in policy accommodation. sentence, the one where they are not declaring victory on inflation yet, even though it has touched 2% on the key measure for one month. here is what they's head. it was already noted a temporary period of inflation modestly above 2% could be helpful in thatring consistent with objective. sounds dovish, because they will say it is helpful to have an above target when it has been so long. is dovish. they say jay powell is probably in the three rate hike camp. no mention of emerging markets. seeing turkey have to raise the

betty: i'm betty liu in new york. let's get back to the u.s.ket.with president trump 's iran decision, it triggered many volatility on stocks. su keenan here. sue: stocks did sink lower after the decision. oil on a wild ride. the dollar moves higher.we are continuing to see dollar strength. treasury in focus as jamie dimon talks about yields at 3%, get ready for 4%. as you can see,dollar strength. gold higher. oil closed just before $70 but will move higher. we will move into the bloomberg. average geopolitical risk has been higher in 2018. that would be slightly an understatement because we started out here and we are at a whole new normal with this whole iran talks. a lot of the various european allies had lobbied trump to stay in the deal. iran especially said the u.s. was making a big mistake. there was a view this would actually worsen things. however, donald trump is convinced otherwise. haidi: let's talk more about jamie dimon morning on 4% yield and where oil goes from here. su: let's talk about the talk from yield from jamie dimon. it

betty: i am betty liu in new york.hed an agreement with key holders, $700 million of its bonds to restructure them. anders include blackrock goldman sachs, agreed to accept an immediate cash payout of $.20 to the dollar and roll the rest into a three-year security. panasonic says tesla is still slightly behind its model three mass production schedule, but is making steady progress. panasonic supplies batteries for tesla in nevada. the high goal set by elon musk -- also says panasonic is open to making batteries of for tesla in china. jpmorgan the latest to be accused of currency manipulation, charged in new york with the rigging of african, european and middle eastern currencies. prosecutors say he and his accomplishment -- accomplices competitionliminate by fixing prices and raising bids and offers. yvonne: core cutting continues apace in the u.s. networks down 4%, your to date. another down 5%. switchingof viewers to streaming services such as netflix is set to continue in the near term. betty: coming up, we will unp

betty: indeed. the big story, we were just talking about, president trump canceling his historic summit with kim jong-un and says the u.s. military is ready for any outcome. he cited tremendous anger and but kept the door open for a meeting in the future. mr. trump: i am waiting. to washingtono and bloomberg national security team leader bilberry. berry. very interesting that this came in a letter, not a tweet. why are they backing away from the summit? -- what u.s.s officials said after trump's decision was announced was one, that they were not getting responses from north korean counterparts when it came to trying to work out some of the details of the summit. one administration official told reporters today that a team had actually flown to singapore to try to lay the groundwork for the summit on june 12 and their north korean counterparts never showed up. they were literally stood up and they return to washington. they are saying there was a break down behind the scenes as they tried to iron out

re hong kong.man in betty: and i'm betty liu in new york.utlook for the rising tensions in the middle east and . tween the u.s. and china which seemed to ease a bit today. c.e.o. matt toms joining us. fore we get into some of the geopolitical tensions roiling the market. what's also roiling the equity is this eyes -- rise in yields and i want to points to chart we have here. how yields, an see government debts, whether in u.k. or even in japan, surprisingly, and of course here in the u.s., they're going up and that is -- hat's some synchronization happening that we hadn't seen before. seems to be rallying the markets a bit as we saw today. what do you make of that? synchronized to the up side and we think the g part to play in this. dollar strength ending that hannel lower basically puts in place a requirements for global elds to go up to lock up the up. structure to move otherwise the dollar gets too rong and you have a negative looping into other markets. e think the dollar was the key and obviously the statements out of europe today where

liu betty liu -- i'm betty in new york. yvonne: i'm yvonne man in asia.edged fed inflation is close to target without indicating any intention to veer from the path of gradual tightening. growth in the first quarter, removing and reference in the first statement that the economic outlook has strengthened in recent months. they balance that out by noting solid growth in business investment. starbucks has settled with two blackman wrongfully arrested -- two black men wrongfully arrested and promised to pay for their college education. they settled with the city for a symbolic one dollar each, and the promise of a $200,000 program for young entrepreneurs. starbucks has called the arrest reprehensible and closed thousands of stores for staff training. trump's lawyers says they are still open to him giving an interview to robert mueller, despite a key departure of an advocate. rudy giuliani spoke as the president's legal team challenges unfolded. ty cobb is being represented -- is being replaced by a lawyer who represented bill clinton during his impeachment h

betty: thank you. mackenzie keeping our eye on the reactions which we will get throughout the week to the u.s.-china trade talks. iran said the u.s. would regret the decision to withdraw from the 2015 nuclear agreement. president trump has a week to decide on the future of the deal he has derided as insane. let's bring in ros krasny. do we know if the president has made up his mind? ros: i don't think the president has made up his mind. he has had a lot to say about the iran deal the last weeks and months, but we know he loves to talk about it. what he willy know do. in the past few weeks we have seen european leaders, seen under the low merkel, emmanuel macron come to washington to try to persuade president trump on the nuclear deal, and in the next couple of days we will have boris johnson, the u.k. foreign secretary moving on the wires. a while ago he wrote about the iran deal. he wrote in the new york times and basically said the wisest course would be to improve the handcuffs on iran rather than b

betty: it seems that way.ing to the wall street we get ahead, we mentioned trade talks coming up between the u.s. and china, what about the round of earnings, about 70% of the way through? we have a whole the earnings coming, retail stocks and tech are coming. stocks set to report, walmart, home depot. snapshot, wearket ended on a positive note for the market, but it is close to unchanged. how these earnings and ego reports affect the market direction is a big question. let's get to the stocks that will be reporting. as i mentioned, home depot, walmart, cisco, a big tech stock of about 20% year-to-date. the focus will likely be on tencent. this is the big rock star stock in china that was at record highs in january. since then, it shed about 82 billion in value as investors priced in the cost of this massive spending spree. predicted to drop to the lowest level since 2003. let's move on to some of the ego data. probably what will be most in focus is the retail spending. economists predict it likely rose in apr

this is bloomberg. ♪ betty: good morning, i am betty lou in new york.paul allen in sydney and you're watching "daybreak australia". the trump administration is downplaying it could break through with china when talks begin thursday, a chinese official has told bloomberg that asian want waiver in the face of american fa threats. we are joined by a professor of the harvard kennedy school of government and former u.s. secretary a state of defense and another of a book with a destinedic title, " for war." think you for joining us. -- thank you for joining us. the u.s. saying they will avoid any pre-existing conditions, is the barcelo for this meeting? -- is the bar set low for this meeting? >> i think this is more foreplay and what i suspect will get worse before it gets worse. paul: if you were part of that , what would you be advising to stop it from getting worse? this is a follow-up of a meeting that occurred a month ago when the chinese star for the economy can to washington. steve mnuchin can to him and said were looking for you to cut when it a billi

betty: after 6:00 in new york, i am betty lou. we will be looking at how all the action on wall street will play into the asia-pacific trading day. i think we will be watching bitcoin this week, blockchain theory we will be watching for the price of that coin. we did and friday with a slightly bullish note. the dow is up 91 points, the s&p higher. tech shares still waiting on shares overall, but the dollar was steady. the s&p for stock market ending the week as i mentioned on the bullish tone at least a little higher. some of the panic also. that seemed to soften as well. overall it seems to leave investors more optimistic closing out the week and going into this week. lookingnflation fears better. when you look at north korea, we have another set of potential trade talks continuing in washington with the vice premier of china visiting. take a look at the set up in asia. let's pick it up with new zealand, where trading is getting underway. watching for the biggest company included in that review today. kiwi stock seeing weakness a

betty: i'm betty liu in new york where it is just after 7:00 p.m. evening. president trump to note the obama administration infiltrated his campaign team. the remaking of malaysia. malays have nothing to fear from the government. some historic changes happening around the world. , that isabout historic happening in the u.s. treasury market with this 10 year yield. .et's pull up this chart on friday, we closed above the 3% level at 3.06%. 3.2% is veryng close on friday. it looks like this 3% level that we have been talking about for so long has finally been breached. we will certainly test this level in the coming weeks, but we have more bond auction. more fed speakers, will this rate continue to hold? least i am counting at eight or 10 speakers this week. it will be very busy as far as rhetoric is concerned. the demand for a lot of these onions will be predicated what the fed stance would be -- the tolerance would be for inflation. down or ishat back this the new range? depend on the fed minutes coming out. betty: it will be interesting to see where we close

betty: i'm betty liu. you're watching "daybreak asia."es in the pivotal state of ohio. the x consumer protection bureau achieved has the percentage in the ohio governor percentage. this is in the democratic primary and there are concerned about the finish. more on the radical progressive side, a lot of concerns he may have a chance to bm -- to beat him. let's get to the first word news with tom mackenzie. tom: france, germany, and the u.k. regret president trump's decision to withdraw from the accord to curb iran's nuclear program. the u.s. will reinstate financial sanctions on the republic, opening up chances for the middle east. the deal,ed negotiated under the obama presidency, horrible and one-sided. >> at the point when the u.s. had maximum leverage, this disastrous deal gave this regime , a regime of great terror, many billions of dollars, some of it in actual cash, a great in barents -- embarrassment to be -- to me as a citizen and all citizens of the united states. >> i ordered the iranian atomic energy association to be ready if

to be considered a friend of betty ford is such a high honor. i have my own reflections, but i want to first ask my colleagues here to talk about betty ford. and the role she played. i was very struck by one of the quotations in that wonderful video. being a lady does not require violence. because the term first lady is archaic, in some fashion. and it has been both empowering to many as they have carved their own way, but also constricting to some. who have struggled against the norms. betty ford certainly broke out of those structures and she took chances. she was such a role model for me, long before i knew her personally. for my generation, which is the same as hillary clinton's generation, she was just a striking example, especially the e.r.a. as a young local reporter, i covered her in houston marching with gloria steinem. and the others in those early marches for equal rights. for her to do that against the wisdom of the policy advisors and people in washington who were in the cabinet and white house, she really did all this in such an ex

this is bloomberg. ♪ betty: good morning, i am betty lou in new york.u are watching "daybreak australia". race $2.7 billion in its ipo and business is made up of rest separations of europe's second-largest insurer, and the deal is to become the biggest u.s. share sale this year. stakesspecially selling in its business, our sources say india's top wireless operator plans to raise as much as billion dollars by early 2019. that is it for "daybreak australia" but yvonne and baby are up next with daybreak asia. we continue coverage on that malaysian upset in the election in the last supper of hours. becoming prime minister at the age of 92, we speak with the professor of political science who says that this election was not his to lose coming was losing the narrative of momentum during his campaign, but what comes under this new regime? we have a former prime minister wrote for more than 20 years coming back into power. betty: they questions there, and we also talk with the center you and alsotrategist, weighed in on the impact of this stunning victory by th

i am betty liu. we will be looking at all the action on wall street and how it will play into the asia-pacific trading day. inh rising yields not just the u.s., but over in europe and elsewhere that caught investors, equity investors, that weighed on stocks has we see here in the equity markets how we closed. still higher, but off of the session highs, the dow up 68, s&p barely closing up, and the nasdaq also a little higher had went 1%. on's get more details breaking news that happen in our ago. msci reporting in the past hour, 234 chinese companies a-shares included in the benchmark from june. su keenan has the latest on the news. >> big news. it takes the china stock market global. ashave known this was coming msci releases a bi-annual report that came out in the last hour and name the names of more than 200 companies that are being added. again, msci emerging market index. let's take a look at this performance your today. -- you're today. it is widely followed by funds that have to mirror the hol

sophie: i'm betty liusophie: -- betty: i'm betty liu here in new york.fed as u.s. wage growth slows. facing russians about politics and succession after rushers -- facing questions about politics and succession. yvonne: looks like we are set for some decent gains. questions about what the dollar's or go away moving forward. we see recovering with u.s. treasury yields. we see this revived correlation. jpmorgan with a note. this could be disruptive to global markets, just as a reversal in the correlation between stocks and bonds and what we saw in february. that is what triggered the selloff. it's not their base case yet, but something to look ahead to in the next couple of months. betty: that's right, certainly complicates the situation for many central banks, and also for the companies, as we see the correlation come back. we will talk more about that with our upcoming guests. let's get to the first word news. north korea says u.s. sanctions are not the reason for its willingness to remove nuclear weapons from the peninsula. the state news agency says th

betty: possibly.lking about this tech route and whether or not for the fang's it will be over with, but apple is coming right back. yvonne: and to give you context, what trillion dollar market cap is greater than the gdp of netherlands or malaysia. it is going to be a big piece of the pie in the future. that is all we can talk about in terms of tech, but here is what is coming up the next few hours. jamie dimon is coming up. now, and you from guys have had several guests already. is on the ground and conducting the interview and a lot to talk about with him. you do not want to miss that chat, and a lot happening in the markets. tell why and what we are awaiting as far as triggers are concerned. -- ae also looking at debrief on chinese trade and the general issue of trade. when you look at the credit temples and china you might have seen growth peaked. if there is a view that growth has big, then inflation has peaked. and oil is in the mix with earnings.reporting to add to apple, a trillion dollars wou

this is bloomberg. ♪ betty: i'm betty liu in new york.aidi: i'm haidi lun in sydney and you are watching "bloomberg daybreak: australia." we are joined by the director of asian sales and thank you for staying around with us. days, there has been a huge spike in volatility and malaysian areas and proxy trading. is the volatility ultimately going to lead to more foreign interest in malaysian assets? >> fix for having me, haidi. we are in real-time news and it is great fun but i think we should separate the electorate and rhetoric from reality. after the election, he is toning down the rhetoric from what he was saying in the campaign. i do not think the markets will react as negatively as the people have been noting over the last few days. i think it will be a much kolmar situation. he has already moved past foreign investors. and malaysia already had a setback almost two years ago. orre is a setback year, five 7%, i think that will be a good thing for the market. i think we should look beyond the rhetoric of it the election is over. he is g

betty: i am betty liu in new york.athir mohamad's surprise of victory, ending the 60 year role of najib razak's coalition. haslinda amin has a guest with her. what is the mood in the streets right now? >> it is hard to say what the mood is, but prior to this we saw lots of people still in the streets. mind you, it was 5:00 in the morning. some anticipation what the change could mean. our guest joins us this morning. good to have you with us. obviously, malaysia voted for change in this is just the beginning. guest: overwhelming, a swing in vote in the constituency, at least 20%. even though voter turnout was down, many traditional did not come out to vote. they could not stomach voting for najib as they have in the past. this has been a malaysian tsuna mi. tolinda: it took mahathir win the support, it could not have been anyone else. guest: i agree with you, he was a game changer. also, they wanted najib gone. he had the worst scandals, he shamed the nation with the 1mdb scandal. they could not take it anymore. the way

is bloomberg. ♪ betty: this is "bloomberg daybreak: asia." i'm betty liu in new york.nt trump scrapping the summit seems to surprise almost everyone. we spoke with democratic senator jack reed. it is startling but it is a function of the impulsive approach the president takes in this process. his quick and poorly staffed initial agreement to go and meet with kim jong-un, the up-and-down discussions about what or -- what might or might not be discussed. then i think he finally realized it is likely north koreans will give up their missiles -- will not give up their missiles automatically or overnight. with hiso boxed in decisions when he realized he might be walking out of a deal with the north koreans that is much less commendable than the iranian deal. i think that might have slowed them down. happen inwhat has to order for the president to reconsider the meeting? back on a wellt organized and carefully orchestrated series of meetings with intermediaries who will talk about what will be discussed, what are the general terms, what are the north koreans willing to give

. >> i am betty liu. we are going to look at how all of the action on wall street plays into the trading session. paul, let's take a look at how the u.s. markets closed. we saw the markets trying to ounce back from the lows of the session, digesting the fed statement, tech shares leading this rebound in the markets. the dow ending marginally higher. the s&p and nasdaq closing lower. keenane on the close, su is here and of course we've got the jobs report. what was interesting, we came 1% off the low and it looked like we were trying to rally to positive. we did see a gain in the dow. we do have a little bit of trade talks along with earnings. what does the fed meet with inflation creeping up? let's go into a snapshot at some of the losers. -- movers. tesla was a focus. overshadowede ceo other aspects of the conference call. our colleague was on the call. he called the question boneheaded. that got more focused than anything else. take a look at the other stories of the day. yum! brands has been struggling

betty: this is "daybreak asia," i'm betty liu in new york. yvonne: i am yvonne man in hong kong. let's of the business flash headlines. t-mobile and sprint have stated their case for a merger. john ledger and marcelo clarity laid out the tire based on the announcement the company presented on april 29. it needs approval from the fcc and must clear antitrust hurdles at the justice department. the proposed merger four years ago was rejected. goldman sachs to pay about $110 million to resolve claims that foreign trade exchangers improperly shared information about client orders in rooms.nic chat the bank will pay roughly 50 family dollars each to new york's department of financial services and the federal reserve board. they will also provide regulators with a plan to improve internal control and compliance. betty: wednesday sees a big expansion in china's stock connect with hong kong. investors predicting greater volumes through the gateway. this up on quota will instinct to the equivalent of 7 billion

i'm betty liu. we're going to be look how all the action is going to play in the the asia pacific trading day. and haidi, it was a day of advances here in the u.s. we saw another advance at that 3.1% level. let's take a quick look at how the stocks ended trade today. green across the board. some good earnings from some of the consumer stocks like macy's. the dow up about 63 points. the nasdaq gaining some steam to set up asia for a higher open. haidi: yeah, what a difference a day makes. we went from good news to being bad news. to good news being good news. it's amazing how the narrative shifts within hours. take a look at the setup. we had stocks staging a recovery in the overnight session. emerging market asx coming ush pressure. the aussie recovering from that slump on the back that we gained. sidney futures a bit of poverty going into the open. 6. aussie dollar at we're seeing decline in gold. new york crude holding at 71.5. the brent falling the most in more than a week. although, we do have m

betty: it looks gorgeous. i'm betty liu in new york. you are watching daybreak australia. let's get the first word news with alisa parenti. alisa: president trump has poured cold water on rising trade optimism, saying he's not really pleased with the way talks are going with china. the administration held off on billions of dollars worth of tariffs with reports of white house discord over the tragedy -- over the strategy. rossrce secretary wilbur plans to visit china early next month to continue trade talks. the president's also cast doubt on his plan summit with kim jong-un. speaking after talks with the south korean leader, he said there was very substantial chance it will work out. the president added that does not mean a meeting won't happen at some point. the white house has acknowledged uncertainty around talks, but still preparing for singapore on june 12. congress has approved a sweeping overhaul of u.s. bank

betty: event $8 million into it? >> yes.cut a deal to sell it to janssen, a pharmaceutical ,ivision of johnson & johnson the total all in could be over a billion dollars, so it's a nice deal. betty: certainly it had a big return. he's a guarantee you will get the billion dollars? philip: we will get $140 billion upfront and then there will be milestone payments which is typical for transactions like this in the pharmaceutical space. but the fact that johnson & johnson is putting a tremendous amount of effort around it, we feel for you comfortable with that. i know you've mentioned this, i read the transcript of your last conference call, for instance, where for some time it seemed investors were undervaluing your portfolio. you clearly think your portfolio has great value, but then your stock price was a reflecting. so you -- so do you think this is approving the naysayers wrong? philip: i think the transaction is hopefully indicative of the only across a portfolio but in life sciences. it's a little difficult to analyze our

betty ford as the first lady speaking out in favor of the equal rights amendment, it was astonishing. i was living in arkansas. and the work that she did was just like a thunder class. people felt it, believed it were in awe of it. i just thought that took so much grit and guts. we all know about her work on behalf of breast cancer. it wasn't just her openness about it. it was personal to me. my mother's best friend, a woman who lived across the street from us back in the 1960's, came down with breast cancer and nobody talked about it. the children, i was friends with her children and my mother was over there every afternoon just about. we had no idea what was wrong with her. she just didn't talk about breast cancer then. she did died. it was only after she died that i learned what she had been going through. when betty ford came along and that great picture of her in hospital room with her husband and bob hope and that big smile and that perfect hairdo, it was so reassuring and invigorating to have an important person, let alone our first lady who was so open and honest and personal

kpix 5's betty yu is live at san ramon valley high school. >> reporter: all evening, students have been paying their respects to ben curry at this makeshift memorial. he loved basketball and had a lot to live for. as the school choir saying, hundreds of students, parents, and faculty held candles in honor of 15-year-old ben curry. >> ben's day was way too soon. >> reporter: the freshman at san ramon valley high school drowned in the school pool. he had been in the swim unit for two weeks as curriculum. police searched the area. when he was discovered, a teacher jumped in to get him out. investigators found a pair of tennis shoes, a cell phone, towel, and a pair of glasses. students left flowers and handwritten messages on posters and shoes at the growing memorial on campus. another left a basketball. ben played with the amateur athletic union. >> he was such a positive and energetic kid. he played the game with a lot of passion. >> reporter: pete nevin coached ben on the team. >> i am honestly distraught. i was in shock and then i broke down. >> reporter: the team captain message with b

betty yu reports. >> reporter: like it or not, the hospital has become a familiar place to jackie. she was first diagnosed with hodgkin's lymphoma when she was 37 >> i have lost my hair so many times it's hard to remember. >> reporter: the 61-year-old concord resident remembers when her cancer got aggressive to large b cell lymphoma and her doctors ran out of options. think sent her to a specialist -- they sent her to a specialist for chemotherapy which didn't work. >> he said we are going to try this next. and we are going to keep our fingers crossed. >> reporter: car t is a revolutionary one time treatment where t-cells are removed and reprogrammed by scientists in a lab to fight cancer. those cells are then put back into the patient. >> this technology actually rewrites the cells' genetic code, the t-cell code, so it actually can recognize and heal a lymphoma cell. it's almost like a sci-fi, um, work of fiction to try to make these cells and it's completely out of the realm of every other therapy we have done for any medical illness. >> reporter: the doctor calls it computer sci

as kpix 5's betty yu reports, they are continuing their firefighting efforts. >> reporter: chopper 5 shows thick smoke billowing into the air. at least 500 acred have burns along the alameda contra costa county line. cal fire says winds in the area were estimated at 50 miles an hour. at least 7 separate brush fires started in an hour after the first reports came in around 1 p.m. the fires may have merged into one near mountain house road and grant line road in the altamont area. from the air, we saw at least two structures destroyed. >> this also just serves as a good reminder for people that fire season is here and it's time to clear brush around structures to make sure if fire happens near you, that you have a chance to survive. >> reporter: betty yu, kpix 5. >>> and we're looking at weather today. those breezy conditions continue. >> oh, yeah. it's been howling at night. right now in that area where the fires are 47-mile-per-hour wind gusts just popped up. so that's obviously a concern for those firefighters. it's a west wind so that tends to bring in a bit more moisture. so it's

when betty ford came along, and that great picture of her in the hospital room with her husband and bobope and that big smile and that perfect hairdo [laughter] it was so reassuring and invigorating, to have an important person, let alone our first lady, who was so open and personal and honest about the struggles. shethen she went on and campaigned for better breast cancer treatment. she blew away the stigma which has stood in the way of women feeling comfortable even getting examinations. i can't imagine how many lives she saved, directly and indirectly, because of her courage in facing up to her own disease. >> watched the entire program sunday at 8:00 p.m. and midnight eastern, on the presidency. this is american history tv, only on c-span3. >> next on american history tv, two u.s. marine corps officers in the u.s. coast guard captain talked about their personal experiences as women in the armed services and a panel discussion titled leading military women, commanders in the u.s. military. discussion is moderated by retired u.s. army brigadier general and mcdonald. the veteran's cent

betty yu, kpix5. >>> coast guard crews searching for a possible ship wreck tonight after finding some debris floating off the coast of pacifica. they scoured miles of shower line. crews found what appears to be pieces a wooden boat in the sand with the words rio and barka. coast guard hopes that someone might know whose boat this is. chopper 5 was overhead this evening as a coast guard member propelled down when he spotted a life jacket. no one has been reported hiking and no reports of overdue >>> a pipe bomb exosion under investigation tonight, and danville police want to hear from a witness about what happened. the bomb went on sunday on dab low road. two cars had minor damage from the blast. police believe this man saw what happened, and may have information that can help crack the case. he's between 5:10, and 6 feet towel -- 5'10", and 6 feet tall. they believe he's driving the white sedan in the surveillance photo. it's possibly a jaguar. if you have any information that can help, call the danville police. >>> police are on the hunt for a robbery suspect in danville. police say

here's a preview. >> when president ford became i wasdent ford, introduced to betty ford.m being beautiful and grateful and gracious and humble and welcoming, she was fierce. whichng up to the e.r.a., at that time was not quite as off-limits as it later became because of all kinds of efforts against it, but betty ford as the first lady speaking out in favor of equal rights amendment's was astonishing -- amendments was astonishing. i was living in arkansas. the work that she did was just like a thunderclap. people felt it, believed it, were in awe of it. i thought that took so much grit and guts. we all know about her work on behalf of breast cancer because it wasn't just her openness about it. it was very personal to me because my mother's best friend, a woman who lived across the street from us in the 1960's, came down with breast cancer and nobody talked about it. the children -- i was friends with her children and my mother was over there every afternoon, just about, we had no idea what was wrong with her. you just didn't talk about breast cancer than. and she died. it

betty how big is the excitement behind these walls oh incredible lots of preparation taking place as you can imagine there's thousands of people involved in getting everything wrong everything is tolling droit down to the last second where the royals are going to be as usual nobody does it better than the the british army and the british people really we really know how to put a show on to watch. but it's not just the army that's been rehearsing in the streets. that you know the a choir of singers living with or having overcome disabilities has a special whiting a love song written by sandra goard. only a gospel singer and