joel: blackrock. ten years, there is a shift from the sell side, bankers, to the buy side, investors. that's encapsulated with firms like blackrock, but also private equity. that shift from sell side to buy side is one of the legacies of the financial crisis. what is interesting to me and -- is the small ways they have been able to do that. one of the most ingenious acquisitions was blackrock acquiring ishares, at the time a barclays property. that allowed them to own etf's. exchange traded funds in the past 10 years, it was an ace match. carol: you talk about having the money to make that acquisition. joel: not having the regulatory oversight the banks had so they were able to do these chess moves that everyone could look back on in hindsight and go, wow, they aced it. jason: in financial crises, they are as much about politics as economics. former treasurer gary secretary -- former treasury secretary tim geithner helped halt another great depression, but the effects of the disruption never really we

with us is matt tucker of blackrock.just made his case for usb, better replacement for the act. >> most investors benchmark to the barclays aggregate. that is the most popular out there. our fund has $56 billion in agg. if you look at the mutual fund universe, 90% of managers use that. a lot of investors use that as their home base for fixed income. a lot of investors these days are including high yield, e.m.. we are seeing the universal and iusb become more popular as investors broaden their investments. scarlet: let's talk about hyg, another blackrock specialty. i don't want to fixate over the debate over potential liquidity. the bigger issue is it performance. here is what we heard about the performance recently. >> it has been a disaster for the investors. particularly in high yield, hyg, j and k, they have woefully underperformed acquisition funds. there is this perception that going passive beats active. it may be true in segments of the equity market but it's the exact opposite. more than 10 years since these have

blackrock.r the past ten years, there is a shift from the sell side, bankers, to the buy side, investors. that's encapsulated with firms like blackrock, but also private equity. this is one of the legacies of the financial crisis. what is interesting to me and the small ways they have been able to do that. one of the most ingenious blackrockons was ishares, at the time a barclays property. carol: you talk about having the money to make that acquisition. joel: not having the regulatory oversight the banks had so they were able to do these chess moves that everyone could look back on in hindsight and go, they a stick -- aced it. crises, theyancial are as much about politics as economics. tim geithner helped halt another great depression, but the effects of the disruption never really went away. green knows what goes on behind the scenes. sinceover the 10 years the crisis and how it has affected politics, i kept returning to an interview i had with tim geithner. i had been wallowing him throughout

still with me for some final thoughts is jeffrey rosenberg of blackrock, krishna memani from oppenheimer, and noelle corum of invesco. for the federal reserve, key points, key things to look ahead to next week? noelle: we all know they are going to hike most likely. and we're kind of just watching. basically, we think that the surprise is going to be to the dovish side. because december is already priced in at 70%. so we don't think they will come out overly hawkish at this point. we are watching the trade monitoring. any talk around monitoring monitoring its impact on growth. we think they want to see it feed through to harder data, and that could be as early as q4. we actually could see it in some of the jobs data. but also, any talk around full employment. i think they are going to keep that subtle, but it is something that they are discussing. so we think they may address it next week. jonathan: jeff? jeffrey: there are four key points. the first things in terms of statement, the most important part is, do they change the language describing the stance of monetary policy? don't expec

blackrock takes a fairly selective approach to em. how do you balance that with the fact that you see certain countries swept up? >> we have seen a spread move from that investment. know, likelike you argentina or other countries where the risk category is very high. the spread between high-yield and investment-grade em has moved out quite a lot because investors have been concerned about turkey, about argentina, about venezuela, and this presents an interesting opportunity if you understand the individual countries themselves. when theye russia, cheapen as a result of other pressure across emerging markets, the sanctions are important relative to russia. that provides a really interesting opportunity. nejra: i have a chart of russian bonds, if i can bring it up while you are speaking. we have seen actually the 10 year yields rise on concern about the possible sanctions. the worst-case scenario. ruble bonds for you would present an opportunity, for example? scott: we focus on the hard currency bonds, the dollar-denominated debt. they

asia stocks head toward a one year low as jpmorgan and blackrock worn -- warn of contagion. how much further do these em woes have to go? the yen snaps a four-day losing streak and the dollar strengthens amid concerns the u.s. will impose additional tariffs on china. as soon as today. pound ping-pong. sterling falls under theresa may's threats to go hard on russia over poisoning. the u.k. and germany are said to drop key brexit demands. i'm going to be speaking exclusively to the ceo of -- at the aviation festival. what kind of a brexit is he preparing for? we will find out just after 8:00 a.m. london time. matt: very much looking forward to that. we are less than a half-hour away from the start of european trading. take a look at futures right now. we are looking at a mixed trade with ftse futures holding their head above water. other futures down. cap futures unchanged. futures unchanged. take a look at gmm. you will see big moves across asset classes over the last 24 hours. starting with the equity indexes you can see the saudi is down more than 3%. to easy out was down a

jonathan: joining me is diana amoa of jpmorgan, and scott thiel, deputy cio at blackrock. plus, coming to us from chicago is colin robertson, head of fixed-income at northern trust asset management. talk about what is happening in italy. how big a risk is a budget deficit of 2.4% of gdp? diana: markets had been expecting something below 2%. we had numbers closer to 1.6%. 2% was really the top side the markets had been expecting. 2.4% is not a great number, particularly in the context where in the past, they have been able to meet their one-year projections. this time around, they don't necessarily have the tailwind that they have historically had, and you have higher rates coming through as well. scott: it's important to take the number in the context of market expectation. italy had been meeting with investors to talk about this number in particular, but more generally the italian situation overall. they guided us to a number that was closer to below 2%. i think it's about the surprise that it is, not only for one year, but for two-year that is relevant. it is 2.4%. keepi

at blackrock would this be an entry point in btp? i think we need to find out more about exactly what is going to be in this budget submission. last night there was this news that next year's budget headline would be 2.4%. there are now reports suggesting it would be for the next three years, which would be a much bigger deal in terms of their trajectory and really throwing out the euro rulebook. i think italy's partners would have been willing to make a gesture to give them some leeway. government. i think if we are looking at breaking the rule book for three years in a row and a massive way and getting the italian debt on an upward trajectory, that is completely unacceptable. i think this is early in the process and the actual submission to the commission is 15.due until october i'm sure there will be a lot of back and forth between now and then between italian officials and their counterparts. do we get this market discipline that policymakers are hoping for? i think this is the start of the process and right now probably much too

jonathan: still with me, diana amoa from jpmorgan asset management, scott thiel of blackrock, and colinobertson, from northern trust asset management. colin, i want to begin with you. the reserve removing that word "accommodative." is the federal reserve still an accommodative federal reserve? colin: yes, jonathan, it is still an accommodative federal reserve. but i do think there are a number of important things going on here. the removal of "accommodative" i think puts investors in more of a position, and that's what chairman powell wanted to send the message of, that the data is what is important. i'm so we know it is priced into the market and we know what the expectations are for the fed members in respect to the dot plots. i find that intriguing, too. if you look at the dots, obviously there is a move priced in here in december and three more next year. and that would put us at a position at the end of 2019 at three and 1/8, and that seems high to me for the 10-year treasuries that are still trading at 3%. so one other point i want to make is when you look further out where the do

asian stocks head towards a one year low as jpmorgan and blackrock worn, contagion.h further do em woes have to go? losing snaps a four-day streak and the dollar weakens amid concern president trump will impose additional tariffs on china as soon as today. pound ping-pong. sterling falls on theresa may's threats to go hard on russia over poisoning. it bounces back as the u.k. and germany are said to drop a key brexit demand. a warm welcome to riyadh. we are truly global a london and part of saudi arabia. the state of play on the equity markets, emerging markets are some would say in freefall. a little bit of a bounce in the currency market. not much in equity. london is called lower by 0.3%. you are seeing this pressure from emerging markets. very much a global perspective. are we at a contagion point? that's the question for markets. or is it isolated to banks? a little bit of german data, i believe. anna: german manufacturing orders, this is weak. it is down month on month. just one month's worth of data. that is always the important context for this. the estimate

hired an executive from blackrock.eople are looking at alternatives and building private equity vehicles. how is that changing the dynamic? will we see more of this? why are nontraditional players hopping into a private equity market that is already red-hot? sachin: it is smart that they are looking at alternatives. it will change the competitive landscape in the next downturn if you find managers, blackrock, pimco and so on leading to incentives in a different way. they already do it today but leading in further to a space where there could be compelling opportunities, is a smart thing for them to be doing. reporter: you mentioned they had already by accident been exposed to private equity in the last downturn with liquidity creeping in. what does this mean for the traditional private equity players like blackrock -- sorry, blackstone, apollo? should they be worried? sachin: i don't think so. there is room for everyone. it is interesting. managers have large asset bases could be leading into this space, it is smart th

jonathan: still with me, jpmorgan management and blackrock and northern trust accept management.ederal reserve removing that word, accommodative. is the federal reserve still in accommodative federal reserve? >> yes, it's still an accommodative federal reserve. but i do think there's a number of important things going on. the removal of accommodated puts investors in a position and i think this is what they wanted to send the message of -- the data is what is important. we know what is priced into the market and we know what the expectations are for the fed members with respect to the dot plots. and i find that very intriguing because if you look at the dots, obviously there's a move priced in december. and there's three more next year. that would put us at a position at the end of 2019 at three and 1/8. that seems pretty high to me with respect to 10 year treasuries still trading at 3%. one other point i would make quickly is that when you look further out where the dot plots are measured, the expectation is that we've come to a terminal spot around 3%. buried --1 dots are varie

investmentares emea strategy at blackrock.m he pulls as the global populist wave washes over europe. can we link the phenomenon to other parts of europe? surveillance will bring you interviews with former italian prime minister's. those are both coming up from the ambrosetti forum later this morning. on the banks of the lake. this is bloomberg. ♪ >> lehman brothers, which was allowed to fail. >> the firm which survived railroad bankruptcies. >> this is no act of god. >> companies have formed the the foundation of our financial market are disappearing overnight. >> we have a crisis in our financial system. >> lehman brothers filed for chapter 11 protection. that was some of our reporting from back in 2008. three remember it well. the aftermath of the collapse of lehman brothers. we have a full slate of interviews for the 10th anniversary. we will be talking about this next week with the former ceos of barclays and deutsche bank and the former president of the ecb, the former governor of the -- marking the anniversary, the 10th

we have the blackrock ceo larry think in the incoming goldman sachs ceo.scussed the state of the global finance world with francine lacqua. thee going to talk to thisl asset manager at -- morning we were talking about oil, talking to bob dudley, crude is pushing up rates. it is a consideration for the fed. this is in the gtv library. can we make $100 oil? >> i think this talk of $100 is premature. from a supply perspective i expect things to remain relatively tight. i think you're going to have to wait until next year for that to get resolved. you have the iranian supply coming up at the moment. there's a lot of reasons to expect oil prices to remain firm on the supply side. going into next year is going to be worse. things will become more balanced. the demand side will come into question as we see the impact from trade. at this stage, $100 is a little bit premature. i expect oil prices to remain relatively flat. nejra: when you look at opportunities in the commodities space, do you talk about stakes -- stocks such as bp and shell, is this a commodity pla

class of incoming blackrock of 450 people. some of those people we wanted to stay in the united states are now working our toronto office or our london office. that is a bigger and bigger trend. on the technology side, there is pretty high wage inflation. 10%, 12%, 14% going on in some of those areas. in the statistics, what i'm from large companies that are union based, much of the wage numbers are being wage olderhe high workers retiring. we are replacing them with lower union wages for the young. we are substituting these high wages of the men and women who have been working let's say 30 plus years, and we are not replacing them with workers who are earning less than they did. that is masking some of the underlying wage growth. i don't want to be an expert on it because that is melissa's role, but we know when we see quite a bit of evidence with of the companies we look at an investment. that is why some of the large have more stable wages in their workforce. i do believe we are getting into a point now, in some of the diff

jpmorgan and blackrock have warned of contagion.ning us now is bloomberg's executive editor for economics, along with our emerging markets reporter. let me just start with you. when you look at some of the indicators on the markets, are we expecting more contagion and things to get worse? >> yes, of course. if this is all about turkey and argentina, once these countries take fiscal measures the selloff should go away, but that is not the case here. the trade war risk and the underlined strengthen the dollar strengthen the dollar is causing people to question the fundamentals in the market. francine: there is a great story which i know we are pushing out on social media, which is basically titled the u.s. of oasis of prosperity is becoming an emerging market single. is now going to be tested by weather emerging markets and that contagion microworld growth at risk. putbsolutely -- might growth -- world growth at risk. >> absolutely. faces similar headlines, he is seeing argentina, venezuela, turkey, this sense of contagion. the u.s. i

hour, up in the next blackrock's global fixed income cio. this is bloomberg.e turn now to wall street be. -- wall street beat. after being found guilty of fraud and sentenced to seven years in prison, -- being extruded from england -- extradited from england. wealth managers in asia getting a big pay hike as new clients walk in the door every day. wall street's quarter life crisis. quarterly earnings of the rhythm -- are the rhythm of life and now that may change. so dramatic. joining us now is jason kelly, bloomberg's new york bureau chief. -- served half of his seven-year term but he is not done yet. jason: he may be heading back to ghana where he is not lived since he was very small. , based based on u.k. law on crimes committed by foreigners in the u.k. makes them subject to deportation. this was an interesting case not only because it it -- in involved a huge amount of money and also led to criminal prosecution but also the loss of the job of the cb -- of the ceo at ubs and it kicked ubs into this crisis. it is undeniable that this accelerated it. also th

later, we will be talking to blackrock, credit suisse, wow, you definitely want to pay attention to thatne. vonnie: if you will be doing it, we do not want to be doing it on these days of all days? guy: yes, we are counting you down to the fed decides. this is a big meeting, a meeting we will want to pay attention to, 2:00 p.m. new york time. things will be shifting to press conferences at every meeting. the next one is the last one without a press conference but i am fascinated to

head of blackrock's fixed income strategy. >> we are seeing more of a risk off sentiment.ecially after the quiet summer months, we are seeing neg ative flow coming through south a lot, turkey, argentina, of idiosyncratic risks coming up in brazil. at the moment, relatively quiet market. overall sentiment is relatively bearish. matt: there is not a lot of concern about a total global contagion yet. i want to bring up this chart just to underline that. still near the lowest level for this year. this chart goes back to 2014. it is around the low levels we have seen in that time. wherenot at the point overnight dollar funding is getting superexpensive and people are freaking out. what does it take to get to that level? everyone starts to turn more bearish and get more concern -- is that something we can see happen? marilyn: we don't see a risk of contagion at the moment. it is contained to be emerging markets and sentiment. ando emerging markets sentiment. we are seeing good growth of the united states. we are not seeing global contagion. if you compare the moves in the sellof

speakers include purdue university president mitch ceo, andthe blackrock university of maryland economics professor. this is about an hour. >> good evening, aspen! welcome, everyone, to the aspen institute on economic opportunity. collaboration with the group.trategy i'm neil irwin. i note the irony that the journalist here is overdressed the university president and asset manager are more casual. awry in thes gone university. i'd love to thank, on behalf of institute, bob for making the series possible. today, the aspen economy group has been talking about the issues challenging the u.s. economy and how to solve them. think we're able to bring a lot of that conversation here tonight. expanding economic opportunity for all americans. i would note, a bit of an irony, topic, we keep getting good economic news. 3.9% unemployment. employment or not? all these arguments going on. but against a backdrop of this an economy that is in much better shape than it was a few years ago. learned over the last few years, through a lot of the reporting that's happened on the -- ond, across the ground, acr

i spoke to someone from blackrock who basically said the liquidity from em is terrible right now. you walk me through the times you have been active this week, how difficult has it been to execute the trade? >> this week has been better than two weeks ago. when all of our correlation went to one in mid august. i think liquidity conditions are marginally better as more people come out from holidays. the interesting thing is, it is illiquid if you are trying to buy or sell. it is not a one-way market it just seems like a market where the street investors have decided to take a step back and see where the dust settles. within sectors it varies. local markets are the most liquid sector because you have he local backstop. foreign investors are worried about dollar strength but a local south african investor is thinking i don't want to be in quities, i am going to buy our local bond market. you have that natural support. the dollar space has been more challenging but certainly not as ad as it was a few weeks ago. jonathan: and your view is it is still too early? yes. we are not getting

if we had that, that would be a big problem for blackrock and other organizations. don't you worry about trade tensions lasting for 20 years and the impact being challenging on the u.s. as a reserve currency? >> i broadly agree with larry. if you look at the financial systems when limited to the crisis, -- when we went into the crisis, [inaudible] that work is done. the issue with multilateralism, i talked to a lot of clients who say the same thing, nobody knows what the alternative is. i will not make a political statement, but we have seen in britain with brexit, [inaudible] and that is a bit what we have seen. what is the alternative to an orderly multilateral world, nobody knows. that is uncertainty and makes everybody feel quite uncomfortable, and the economy is strong -- incredible. it is very hard to reconcile with the nervousness that you feel everywhere. it is really that political uncertainty that makes everybody uncomfortable, and if i can add my own views, the trigger event could make things move very quickly. what is difficult to predict is what that ev

portfolio manager of the blackrock world mining trust. up next, the u.s.nment will slap tariffs on chinese goods. we will bring you the latest from beijing. ♪ xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. nejra: good morning from bloomberg's european headquarters. europe."daybreak beijing faster response to u.s. tariffs. chinese stocks slid after the white house announcement, but the yuan holds steady. south korea's moon jae-in meets kim jong-un in pyongyang to revive talks on denuclearization. good morning and welcome to daybreak europe. we are just under an ho

are purdueanelists university president, former indiana governor mitch daniels blackrock ceo melissa kearney, and the university of maryland professor, laurence fink. this event is an hour. neil: welcome to aspen. i would note the irony that the journalist here is overdressed

blackrock down 20. ben franklin investment down 35.et managers not working. >> are they that important to the market i can almost take issue with that at this point >> sure. they're the second or third biggest by weight in the s&p but in terms of the life blood of the system, the most important sector by far. and they're not acting well, a plain simple sort of. >> it's incredible the market has been able to do what it's been able to do without virtually any participation from the financials >> there are two components to the success for financials one which we commonly talk about which is their interest margins which you expect with rising rates would improve. but the other of course is the fundamentals of the business which includes among other things commercial loan growth, the housing market, those types of things. the luxury housing market, a the least seems in many markets to have peaked a bit you know, those types of weeks, on auto, if we reached peak that's an area of heavy finance. speaking to that s&p to dan's point, the trade

a lot of it has to do with institutional investors like vanguard and blackrock over the retail investorsarly 60% of amazon, 72% of google, nearly 80% of netflix. they don't really care if a stock is high priced or not. they may be perfectly happy to have high priced stocks because it discourages day trading that introduces volatility. that's warren buffet's mentality, you know? for years he says he has no problem with a company's stock price going up and he doesn't care about stock splits. for him it's more about the dollar value of what's being bought what this has done is driven up the price of stocks. the average s&p 500 stock is now $115 that's the highest in history according to s&p dow jones industries a little more than a year ago it was north of $50 >> thanks, bob pisani. lucky for you, mike has a way for you to get into amazon for less than $20. he's not a magician. he's just an options mave. he's here to show you how. mike. >> we're going to take a look at using a call spread in amazon similar to apple take a look why we're doing this the first is as bob was highlighting the st

blackrock, one of the largest investors in the world, the chairman has called on all of the companies in which they invest to be addressing and come into coherence with the paris agreement. voluntary environmental disclosure which cdppioneer now increasingly is going to become mandatory arou the world through what is called the task force on climate related disclosure, which meansvehat you o tell your investors how you're managing climate change or suffer their t anger, ay may divert. they may sell their stock. just an interesting factoid, thout two years ago, 1 in $12 invested iunited states was screened for environmental or social impact or good governance. today that number is 1 in 5.an it means that investors are really looking to manage climate change so, on some level, the economy is getting a lot greener than they which. it's just that we have to do tremendous amount more. we're talking about millions of tons that have to be either stopped from rising or removed from the atmosphere one way or another. >> sreenivasan: any voluntary disclosures, how do you trust but verify and ma

speakers include a purdue university president, former indiana governor mitch daniels blackrock ceo laurent think, and professor melissa tierney.

alix: maybe blackrock is contained, but not really.e kinds of nonbank institutions. there could be some kind of feedback loop. a chart shows how much that kind of exposure for banks has grown. yalman: there are so many different ways banks are connected to shadow banks. chart that shows one of the links has gotten much lower -- the borrowing they used to do from money market funds has dropped massively, because they have so much more deposits. on the other hand, they are lending to nonbank financial institutions. it has quadrupled in the last eight years. so they are lending to asset managers, non-financial, nonbank financial institutions. and they are balancing not only the lending or borrowing, but if a shadow bank blows up, even if ,ou have left nothing as a bank that asset manager is on a firesale. money in thesing firesale as well. all of a sudden, a contagion can go on. david: dan, on monetary policy, chairman powell said, we are guided by stars, but we are not sure where those are. a paper which indicated the same sort of thing.

blackrock to some degree janice hernandez they are in the dumps. a bull market looking at those. >> i shares rang the bell here today. >> they did. >> reminded me it's financial crisis week why by far the best deal had to be best rk if barkley hadn't bought demon lots of ifs and butts but gave them this scale. >> also blackrock bought merle lynch investment management, another great deal. >> they did well out of look at them now despite the pressures we mentioned done well over the long-term. >> another story to tell you about jeff bezos launching a charity fund the details next. >> one technician will lay out what chip stocks you should be yi rhtowbungig n big, bold promises like... it'll find life on mars! but here's the thing. you don't live on mars. (beep) you build wind turbines. supply car parts to thousands of cities. answer millions of customer calls a year. like this one: no, i didn't order this. it's terrifying. and that's why you work with watson. hello. it knows your industry, protects your insights, and works with tools you already use

chiefoore, blackrock equity strategist, join him.t a little bit of a boost. ♪ jonathan: from the city of london, i am jonathan ferro, 30 minutes to the start of trading. this is the countdown to the -- the countdown to the open. the fed meeting beginning today expected to be teeing up a rate hike tomorrow. the president ready to ramp up the pressure on iran and the u.n. and heading to the exits following tensions with mark zuckerberg? let's would through some price action. futures looking good, up 4 on the s&p. on the fx market, a weaker dollar starting to bleed through g10. on a u.s. 10 year, we grind toward 2018 highs, a couple of basis points away. another rate hike widely expected tomorrow. thing isst important that financial conditions have not tightened enou

fidelity, blackrock, they're not wanting all coin products, they are launching bitcoin products. bitcoin will rebound and we are seeing no slowdown at the pay -- bitpay. our merchants are signing up more and more or hiring more people. doubling ourse is teams. it is still fullsteam ahead. there are a lot of all coin dodgy ones out there so who knows what will happen to them. bitcoin is the leader in the space. emily: all right, sonny, and joe, thank you. i know joe will continue to follow the dodging this tweet by tweet. one of the biggest people on has downgraded their company -- downgraded tesla as no longer viable. he called this because of the erratic behavior because of's elon musk -- because of elon musk. gran shotwell desk when shotwell says elon is a brilliant man. speaking at a satellite industry conference, shotwell went on to say the boss is as lucid and capable as he ever has been. we are counting down to the next evolutione iphone with apples big reveal on wednesday. we break it down, next. if you like bloomberg news, check us out on the radio. listen on the bloomber

eric: the next session brought together blackrock's larry fink, and anothern, guest.oke with francine lacqua about cyberattacks. >> the number one thing i think about what can go wrong, i just -- is cyber. i just look at our own experience. we have grounded all that is going on. it is a big issue and probably doesn't get as much attention. by getting as much attention as it deserves, i do not think that internalizinglly what the first, second, or third derivative impact of what is occurring from the cyber perspective. francine: do you all have to work together? do you need to share information? >> i think the financial institutions are probably more prepared. >> i am talking broader -- >> i believe there will be cyberattacks on organizations that have under spent on technology and my first candidates would be state governments who thus -- who possess social security numbers, so to me the problem could become organizations that are not in focus. the financial sector has been scrutiny that i would say it is one of the sectors doing as much as it can. i'm not trying to s

that is jim barry, blackrock head of real assets.n update on what is making headlines outside the business world. emma chandra is here with the "first word news." jong-un is holding up nuclear weapons talks over one big detail. he wants the u.s. to declare the korean war is over. that could give president trump a headline grabbing -- but if the u.s. holds back, they could win concessions in its goal of getting rid of north korea's nuclear arsenal. american trade associations are joining forces in a new campaign to oppose president trump's tariffs. the group would represent farmers, retailers and manufacturers. the coalition plans to highlight stories of businesses it -- of businesses, farms and consumers that have been hurt by the trade war. in turkey, president erdogan is got rid of the management team running the country's sovereign wealth fund. the new chairman is president erdogan. global news, 24 hours a day, on air and at tick toc on twitter, powered by over 2700 journalists and analysts in more than 120 countries. this is bloo