this is bloomberg. ♪ ritika: this is "bloomberg surveillance."a gupta of with the bloomberg business flash. shares of samsung rose. some of its most sophisticated chips -- they are being asked to make them. raised three point $9 billion for is first asia-pacific infrastructure fund, the largest of its kind. three dozen investors put in money to be used for everything from waste management and renewable energy to communication towers. the newly crowned richest person in the world is debating how to give away his fortune. elon musk went on twitter to to surpass jeff bezos to take the number one spot in the world's richest index. that is the bloomberg business flash. tom: thank you so much. james bevan is still with us. you mentioned free cash flow earlier. i had my heart skipped because i just wrote a banner for bloomberg surveillance on 2031. i have never looked at 2031. frame investment now by utilizing an studying free cash flow in its various ratios out a decade. james: i would say that the key change for free cash flow is going to be the exten

francine: this is bloomberg surveillance. let's get straight to the bloomberg business flash.leigh-ann gerrans. leigh-ann: good morning. over the holiday period will be entirely wiped out by the new national lockdown. the retailer expects a profit of 370 million pounds for the year, slightly above its previous forecast. the better performance has been helped by strong online demand. worsensket should it should offset covid-19 and reporting a solid quarter in the holiday with a recent boost to online sales. like rivals, it is benefiting by more people working from home. finally, some entertainment news. on pace to be one of the biggest hits netflix has seen this year. the series is set to be watched by more than 60 million households in its first four weeks, making it the fifth largest debut of any show on netflix. even so, it is unlikely to top the spanish crime series money heist or the documentary tiger king is the most-watched program released in 2020. that is your bloomberg business flash. francine? francine: coming up, more on election day, the runoff in georgia who decid

this is bloomberg. ♪ rep.e know that the president of the united states has incited this insurrection, this armed rebellion against our common country. he must go. he is a clear and present danger to the nation that we all love. francine: that was speaker nancy pelosi after president trump 's unprecedented second impeachment. he was charged with incitement of insurrection after the role he played on the attack on the capitol. a conviction is all but impossible before joe biden becomes president. let's get to the bloomberg business flash. here in london with me is laura wright. laura: the $20 billion bid for -- the french government is opposing the deal, saying the pandemic highlights the importance of a country controlling its food supply. he says a rule on the screening of foreign investments could allow the government to block the deal. a trading app is warning it may have to restrict purchases this weekend. ichiro is feeling so much demand it may have to put limits on cryptocurrencies. unlike stocks, crypto

this is bloomberg. ♪ ♪ matt: welcome back to bloomberg markets.e 46 minutes away from the start of cash equity trading across europe. you can see that we have green arrows on european futures. a mixed picture if you look at u.s. futures. interesting to see how the market is waking up this morning. donald trump has been impeached again. a single charge of incitement of insurrection. that makes him the only president to ever have been impeached twice in u.s. history. he faces a trial in the senate over his role in causing the capital riot. joining us now is our bloomberg quicktake reporter in new york. how did this vote go? how did it differ from the first time he was impeached? seemed a lot quicker. jen: the biggest difference was that first impeachment, we saw lawmakers vote along party lines. it wasn't entirely expected that the senate would then vote to convict. this time was a lot different. we saw a number of impassioned speeches from lawmakers before we then saw the vote which became the most bipartisan vote to impeach the president in histor

this is bloomberg. ♪ this is bloomberg surveillance.ey.ith you look at what is happening in the u.s., europe and elsewhere, where you want to put your money -- where do you want to put your money? james: u.s. exceptionalism is not something fleeting. i think that the structural set up of the u.s. economy allows it to ride out storms and return to more cyclical activity. i think the cyclical outlook is stronger than anywhere else. the problem i have is i still have this notion of value in understanding the price that i am paying and what exactly i'm getting for that. i am that second filter -- that something -- second filter does not leave you with many options. i think the u.k. market is still cheap. investors have been assuring the u.k. because of the brexit scenario and the brexit deal is a meeting -- the brexit deal is amazing. i think there is some value still in the u.k.. i think there is some value in japan, a lot less than there was six or 12 months ago. we are struggling to find anything cheap because we know the price has pushe

this is bloomberg. ♪ francine: this is "bloomberg ."ce let's get to the bloomberg business flash. here is leigh-ann gerrans. leigh-ann: initial public offerings in london are off to their strongest start to the year in well over a decade. a number are already underway, including iconic bookmaker doc martin. contribute into a long awaited -- for domestic ipos now that the u.k. and brussels have struck a post-brexit trade deal. conservative social media platform parler is suing amazon for ending its web posting. the self-described microblogging alternative for twitter was off-line early monday. apple and google also removed it from their app stores over the weekend. parler claims amazon's move will kill his business. a steeper job than the 14% slump for the auto market, electric vehicles were a bright spot for the firm with a fully electric -- or than doubling its sales to more than 100,000 units. that is your bloomberg business flash. francine? francine: bitcoin split as much as 26% sunday and monday, it's biggest today drop since march.

this is bloomberg. ♪ matt: welcome back to bloomberg markets.ean open. we are looking at a broader stock index, the stoxx 600 which is rising 0.2%. we see the individual indexes across europe. a mixed picture. the ftse, the cac, and the ibex are trading down. the dax, the ftse mid, are all trading up your a mixed picture. in terms of the best-performing industry group, it looks like tech is the best performer on the stoxx 600. those technology companies are rising but travel and leisure are falling further than tech stocks are rising which is where you see the swing. travel and leisure down 1.6 per 10 -- 1.6%. france may go into lockdown in days. the macron government is concerned about a new wave of infections driven by the new u.k. variant of the virus. joining us now is our reporter, maria tadeo to talk about the situation in france. how bad is it -- i thought they had gotten the infection spike under control. >> they had for a while. the concern is over mutations to calm. a point to the u.k. as a case of a perfect storm. you look at the fren

this is bloomberg. ♪ francine: bloomberg surveillance.s a good time to talk about -- according to unnamed officials. it is never dull. much like u.s. politics in the last 3-4 years. a former residence -- we did see conte leave. let's go straight to fernando. the fact that you resign but you still have a chance of forming a government is confusing. >> he certainly hopes he will be able to stay. we are talking about a man who has had no difficulties switching from the coalition to one of the left wing democratic party. the head of the party and what the troublemaker of this party wants. we keep the same governing party with a different prime minister. perhaps we have a bigger coalition and maybe conte has a chance to remain as prime minister. the ever present opportunity, the technocrat's government. mp's do not want to lose their seats right now. francine: what is the most important thing? is it reform to make sure that recovery fund money is not squandered? or that you have to vaccinate a large percentage of the population quickly? fernan

this is bloomberg. francine? president donald trump is ending his term in office with historical low approval ratings. his approval numbers have dropped to 34%. as already had the weakest average rating of any president back to the 1940's when the survey began. his final two weeks saw a significant drop in support. michelle joins us with more. she was in washington where she was a former white house and congress reporter. great to have you today. it is trump's last full day as president. what do we know about how he will spend his remaining hours? >> certainly an unusual end to a presidency, to say the least. what we know from the official white house schedule is that he will work from early in the morning until late in the evening and make many calls and many meetings. but removing the -- we have more confidence in what he won't be doing. there is a lot he will skip in terms of the usual ceremonial duties of an out going president. he won't be welcoming president biden and his wife to the white house, which is t

the bloomberg dollar index is flat.oldman sachs is arguing that anybody that's worried about the melt up and a lot of the afore area plays well. if you are looking to hedge that, things like the dollar and u.s. credit markets make a lot of sense. brent crude trade up by 1.2%. it has been seven days of gains, the longest streak in two years. nothing short of remarkable. the house has passed a resolution calling on mike pence to invoke the 25th amendment to improve -- remove president trump from office. the vice president says he won't invoke the law. trump remains defiant. >> before we begin, i would like to say that free speech is under assault like never before. the 25th amendment's of zero risk to me. it will come back to haunt joe biden anza biden administration. as the expression goes, be careful what you wish for. mitchum -- use of: mitch mcconnell has told us that he is pleased that democrats are moving towards impeachment. that's according to the new york times. joining us now is bruce einhorn. house of stance a

bloomberg tv. take you through the market movements and european equity markets making modest moves to the upside. u.s. futures pointed little higher. nasdaq futures, up .25%. this is bloomberg. ♪ francine: mike pence signals he will work with president trump as the house moves on impeachment. trump will resign. the fbi warns of protests ahead of joe biden's inauguration. europe heads for double-dip recession. prospectsuts growth for 2021, boris johnson warns he may lock -- titan lockdown rules. chief executive reiterates

this is bloomberg. ♪ d.. ♪ >> there's no question that there is broad support for a second economic relief package. >> i think what governors need is not just short-term stimulus but probably something we could play out over the next couple of years. >> the initial proposal put forth by the incoming biden administration is double the size people were expecting. it will probably end up in the low-end of the $50 billion range,, which needs to come from the republican congress, the highest being one point $5 trillion. >> let's not attend we are not in an intensely partisan environment, and joe biden wants to win on his agenda, and he will use every trick in the book to get it. francine: always a treat, especially on such an important day, after the inauguration and the ecb day. elga, a number of questions about what kind of recovery we will see given that we are still looking at, you know, which in many western countries look like war zones. the number of deaths also rising with it. but the vaccines and markets

welcome to "bloomberg surveillance." the big focuses is on markets after the disappointment we could not get the 1.9 trillion dollar relief bill in the u.s., at least before march. this is what we are seeing a global trade. stocks are mixed, the dollar is also unchanged, treasury yields are rising. if you look at europe, the m&a deals have given it a boost, but we have more worries about the virus variance and hurdles to the biding that merit -- administration's proposal putting a stop to the rotation. european stocks, i'm looking at not only the technology stocks but others that have beat estimates, global infrastructure and overall, the european stock market is gaining a touch. pound, 1.36 42. let's get to the first word news with leigh-ann gerrans. >> the u.k. is set on -- to decide on a plan to use hotels to quarantine visitors overseas to stop the spread of new variants of coronavirus. britain's death toll is likely to pass 100,000 this week with hospitals still feeling the strain. across the channel, france is warn

this is bloomberg. ♪ this is bloomberg. ♪ francine: economics, finance, politics.oomberg surveillance." i'm francine lacqua, here in london. wall street may hold in a windfall, but the reward for traders may be more modest. on average the largest u.s. ranks boosted average pay by $271 per employee. joining us with the latest is dani burger. good morning. why hasn't the pay but much at these banks? dani: as one consultant told us, it is all about off picks. off picks in the sense that even though these trading debts and capital markets did well for wall street banks, you have other areas that struggled, like lending, which leaves the overall revenue at banks flat year-over-year. and you have the political optics. in a year with so much of a gap between main street and wall street when you have really all of these inequalities throughout america, you have banks that are worried about political scrutiny with the new guard, so perhaps this is some self-regulation. that's how you get this picture. with j.p.morgan revenue per employee rising 22% but pay rising 1%. at gol

this is bloomberg. ♪ francine: this is bloomberg surveillance.tingpolice dozens of opposition figures in the largest round up to date under beijing's new national security law. it prompted a response from joe biden. the secretary of state -- of state elect called it an assault on those rightly agitating freedoms. this is bloomberg's china's government editor who joins us from hong kong. what do you make of the timing of this? from china toage the new administration. >> it's the last few weeks of the trump administration. they have led the global chart for criticizing china for its crackdown in the city. we are really reading this as beijing sending a stark message crackdown.th this his china policy is something we talked about almost more than anything among international policy. something that could lead the u.s. to take further action. we will see what happens. tom: could you make a direct link between these arrests and what we saw between the executive order at the treasury department action over the weekend affecting the new york stock exchan

this is bloomberg. ♪ ♪ matt: welcome back to "bloomberg markets: european open." headlines from the bloomberg terminal. impeachment round two. the u.s. house passes a resolution demanding trump's cabinet remove him but mike pence stands firm. representatives will hold a second impeachment vote tonight. taper talk. two fed officials pushback on discussing a withdrawal of support so soon. investors await guidance in the coming days. and italy's government teeters on the brink of collapse. former prime minister matteo renzi says he will decide today whether to abandon the coalition. take a look at european futures. that news is not really sending them down. we have some mixed trades going on here but for the most part, green arrows across the weif screen, which is what i used to tractor world equity index futures. gmm on the left-hand column. equity indexes open up. that column will populate as they open up. the ftse always the first out of the gate, followed by the ibex. they both open little change. typically, we see the cac pop up after this in paris. do not

this is bloomberg. ♪ is bloomberg. ♪ francine: economics, finance, politics. bloomberg surveillance. let's get to the business flash. >> -- global has topped the world had fun -- hedge fund. it reached $127 billion last year. human traders racked up record profits. tiger global generated 10.4 billion d forents after fees. millennium management came a close second. deutsche bank is probing the sales of certain investment banking products. it follows a report of a profit-sharing scheme that sold people risky investments they did not understand. the paper reports the bank is investigating a broad pattern of misconduct rather than an isolated incident. deutsche bank says it cannot commit until the probe is -- cannot comment until the probe is finished. long-term opportunities from the pandemic. the dutch health care firm with sales up 3% last year and the coronavirus driving a long-term shift towards virtual care, boosting demand for its equipment. >> in the supply chain, shipping costs are currently much elevated over the past. these are things we need to cope wi

this is bloomberg. ♪ francine: this is bloomberg surveillance.ch of these governments is pushing for a bigger deficit expense. this comes in the wake of the sparks of former prime mr.. -- fa former prime minister. joining us is dean of the person school of international affairs and former prime minister of italy. italian politics is almost impossible to understand when you're outside and even foremost italians. i am glad we have a former prime minister explaining what the options are. is it a possibility we go to an election? is there a unique italian way for this government to go ahead? >> the parliament meets next tuesday. it will be the day of truth because the prime minister will ask parliament to have the confidence vote. one party is trying to challenge so they decided to withdraw their confidence vote. is he able to suit his votes with the votes in parliament or not? if he does, his government will last and we will continue and he will lead the g20 because because he is the chair of the g20. the government will manage the recovery fund and

this is bloomberg. ♪ matt: welcome back to "bloomberg markets: the european open." into the trading day and starting to get serious direction. the dax, up more than 1%, the ftse up more than .5%, as is the cac 40 in paris. we are starting to see real gains, risk on tuesday. let's look at your day ahead. we will get the big tech earnings out today. maybe that's driving it. microsoft is after the bell in the u.s. today. anna: a focus on the tech story. in the u.k., the hsbc ceo will answer questions over the lenders moved to freeze the accounts of hong kong activists. bloomberg's year ahead event kicks off with the ceos of pfizer, hilton, and carnaval. let's finish the hour of programming with questions around risk appetite this morning. laura cooper, macro strategist joins us and what explains the rally because in europe, we seem to be doing well, chemicals, up pretty strongly. futures look a little more sluggish, which may be is a warning for the second half of the day. >> earnings beats coming out of ubs this morning are partly behind the risk on trade we've seen,

that is coming up next, and this is bloomberg. ♪ francine: this is "bloomberg surveillance."etalk about into 2021. 2020 has been one of the most tumultuous years in history, with precipitous pledges, rebounds, and of course tragedy. with the start of the new year, what can we expect for the next 12 months. by delighted to be joined nigel wilson, chief executive officer of legal & general. thank you so much for coming on bloomberg surveillance. we spent the last four years talking to you about regeneration of the north of england, about what brexit will bring. now that it is done. what do you see for the future of the u.k.? nigel: the themes that we talked past, theye line up with government policy. we are super excited about climate change andy privilege of hosting in the u.k. we have to make sure that everybody is not too tired out -- tired out. to get this initiative to happen in 2021. francine: talk to me a little bit about -- nigel: we have had an investment challenge which has led to a productivity challenge for a long period of time. we have to change that in 2021 or st

this is bloomberg. matt, anna?nks very much, laura wright what the first word news. -- surges as the parent company confirms its 2021 forecast. the software company plans to recommend an enhanced dividend on the basis of higher earnings last year. we are joined by the ceo of sap, christian klein. thanks for your time this morning. so, what gives you the confidence to issue an enhanced dividend? and are you worried that leaves you open for further problems in 2021? christian: yeah, good morning. thanks for having me. first of all, the ipo yesterday was a massive success. [indiscernible] and then on top, we have also seen eps. with that, we're going to get together with the advisory board and we want to have our shareholders participating in the success of it. by the end of april, we are going to announce positive and talk about [indiscernible] anna: good morning. good to see the ipo to get your comments on that. in terms of the underlying business, when we look at the way the virus is being handled, ongoing lockdown

live cooper, bloomberg's macro strategist. -- laura cooper, bloomberg's macro strategist.th francine lacqua. we are heading over to the radio. if you want to tune in, google bloomberg radio. francine: nancy pelosi says the house will move to impeach president trump again unless mike pence invokes the 25th amendment to remove him from office. media sites shut down the president's account. on. indices hit records friday.

this is bloomberg. tom, back to you. tom: equities, bonds, currencies, commodities. green on the screen, nest egg on the screen. huge earnings week, and it is not just amazon, apple, tesla, and the rest of them. it is 100 of the s&p 500 showing the flag. your monday through friday, boeing is in the mix as well. vix churning, 22.41. the same thing. yield in a little bit, a gdp report this week that it could be a mystery as well. where is bitcoin? 33,000. bitcoin. francine: always on bitcoin watch. finally we remembered -- if only we remembered our passwords like matt miller, tom. focusing on the u.s.' $1.9 trillion covid relief plan. the other thing i am looking at is the u.k. i'm looking at crude as well, crude oil climbing toward for $50 a barrel. equity benchmarks in france, spain and the u.k., turning modestly lower. i think it is about the lock on, but we have not figured out exacting but that means. dollar and the euro pretty much steady. now to talk about the economy as if we were in davos, is jan

london time, and this is bloomberg. ♪ francine: this is "bloomberg surveillance."m francine lacqua here in london. now let's get straight to the bloomberg business flash, here's leigh-ann gerrans. hi, leigh-ann. leigh-ann: hi, francine. netflix has ended is bigger than ever year with a bang, adding more subscribers, saying it no longer needed money to expand. it added 8.5 million subscribers. it helped by adding new shows, including "bridgerton" and "the queen's gambit." $21 million. hard-hit by the covid-19 pandemic, being forced to close theme parks and postpone movie releases. due to those losses, some bonuses were scrapped and executive pay was reined in. asml has surpassed expectations for the quarter. the dutch campaign makes semiconductors. it is mostly protected from the pandemic, as it is working to make the latest computers faster, cheaper, and more efficient. and that is your bloomberg business flash. francine? francine: leigh-ann, thank you so much. now, coming up, italy's premier battles on. conte lives to see another day in power. we look at the detai

this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open."e 15 minutes from the start of cash equity trading. it looks like bloomberg is declaring warnock has won his senate race in georgia. we have seen networks declare he has beaten kelly leffler in georgia. we are waiting to see what ssoff andith alo purdue. the democrats have taken one of two senate seats which will be determined who controls the senate and in effect the entire government. as we said, jon ossoff's campaign is assuring media that they will win because the remaining votes to be counted come from democrats. purdue is assuring media they will put up a legal fight to drag this out. let's get to derek wallbank with the latest. when one side says they will sue, can you take it for granted that they think they will lose the count? the math is what it is. every network has called one of these races for raphael warnock over kelly loeffler. the other one is not just jon ossoff-david purdue, but control of the senate. you would expect this to be a fight. it is also closer. jon ossoff

this is bloomberg. francine? francine: leigh-ann, thank you so much. now, this sky word margin gamestop continues to accelerate. it rallied in another 40% in after-hours trading. the battle of day traders versus hedge funds. joining us to discuss is bloomberg's dani burger. first off, how much of a headache is this causing hedge funds? dani: it is interesting, as this battle is emerging, yes, it is causing a really big headache for these hedge fund managers, specifically melvin capital, an easy one to see where the pain is. hey, they doubled down on their gamestop that. they got a cash injection from steve cohen's hedge fund, saying hey, this is us going against the establishment, more or less. gamestop shares are up more than 70% already premarket today, and we have seen other hedge fund favorites to short have also moved higher as well. some in europe, too. one of the biggest short positions that melvin capital has in europe. so the most popular shorts over the past few days have rallied 15%, and beca

the bloomberg professors of american health! [applause] mike: i am a little bit biased, but i know we are all proud of the bloomberg professors. they make me very optimistic about the future of public health, and so does another group near and dear to me, america's mayors. it is reassuring that soon we will have a strong hand and partner in the white house. but as i love to remind people, mayors are the leaders closest to the communities they serve. they solve problems. they get results. at bloomberg philanthropies, we are supporting them every step of the way this year including with a partnership with johns hopkins and the bloomberg school of public health. mayors will continue to play a vitally important role on the front lines in the fight against covid-19. they have a critical job ahead of them informing their residents that the vaccine will be safe and that getting it will be a key to stopping the spread of the pandemic. no question, local leaders will have to work hard to reach everyone in all communities and help ensure

this is bloomberg. francine: let's get straight to our top story, joe biden will become president this wednesday. thousands of national guard troops have been deployed to washington, d.c. ahead of the operation. the city is on high alert with multiple reports of threats on the level of the incident at the capital this month. joining us is bloomberg's senior editor derek wallbank. great to have you on such an important week. what do we know about these violent threats? derek: what we know is officials in washington leading up to the incident at the capital have been criticized for not taking threats seriously enough. this is a 180 degree change from that. you are seeing a security posture in the nations capital i have never seen before, candidly, and i've lived in the area many years. you are seeing downtown washington, d.c., always under high security, but you usually expect crowds of a couple hundred thousand to come and hear what the new president has to say on the national mall. it will be very quiet

catch that live here on bloomberg tv, bloomberg radio, and bloomberg quicktake.e are seeing asian stocks rise. kimi dollars leading a pack. over in tokyo, japanese stocks are on the rise, the nikkei adding more than 1.2%. tokyo electron providing the biggest boost there. over in sydney, it is industrial shares leading gains for bingo industries. let's look at what is moving in south korea. the cost be adding 1%. this after the benchmark saw its worst to j drop since mid june. this coming from after authorities talk about the risk of the financial bubble. auto stocks gaining ground, gm motors jumping 10% this morning. the battery supply chain -- kia motors jumping 10% this morning. in seoul, we are seeing fluctuations for samsung up nearly nine tents of a percent. we have prices surge amid a global electronics boom. customers pay big premiums for metals to be imported. this is given the increasing demand for chips across sectors. anchor: maybe one sector you do not think about as being necessary to ship availability is carmakers, globally complaining about a short

this is bloomberg. ♪ s bloomberg. ♪ matt: welcome back to bloomberg markets. are 37 minutes in. stocks are graining across europe -- gaining across europe. the dax is up .3%. in the u.s., joe biden arrived at the capitol yesterday ahead of his inauguration today. it is expected to be a ceremony unlike any other that has come before in american history. eu leaders have called for a reset on u.s. relations. joining us now is peter beyer, transatlantic court nader. thank you for your time. i am wondering, as trump was doing the things he did, a lot of people thought, those will be undone with the next administration. did he start some balls rolling it cannot be stopped? peter: certainly. there are some topics that will remain in place. everything that has to do with trade, definitely defense spending. anna: you mentioned nord stream 2, i want to ask you about that. democrats also raise concerns about that. do you expect the project will strain relations between germany and the u.s.? peter: i think it will stay in place as a topic, but the payoff several years was

this is bloomberg. ♪ next. this is bloomberg. ♪ francine: economics, finance, politics.bloomberg surveillance." i'm francine lacqua, here in london. let's get to the blue bird first word news with leigh-ann gerrans. that the bloomberg first word news with leigh-ann gerrans. leigh-ann: there are mounting calls for president trump to resign or be removed from office amid the violence on capitol hill. top democrats are calling on mike pence to act, otherwise they may start the impeachment process. germany's health minister is considering money for chancellor. that is according to local media -- runninggermany for chancellor. that is according to local media reports in germany. he is thought of as the nation's most popular politician. imposing mandatory covid test on all passengers arriving in the country. anyone failing to do so will face an immediate fine of 500 pounds. travelers arriving from countries not approved on the list have to isolate at home for 10 days regardless of the test results. -- the u.s. is 1.3ending tariffs on billion dollars of french goods, and move a

go on bloomberg terminal if you are a bloomberg customer. that's the number i have for this one.re all glued to euro, whether euro-dollar or the euro index or even eurosterling. is there a worry with euro the ecb struggles to put a cap on euro level? seema: yeah, traditionally we've seen whenever it starts to get stronger, the ecb makes interventions, a few uncomfortable noises, enough to prompt investors to turn away. this year, there's so much expectation for dollar weakness that maybe if that doesn't pan out, it puts additional pressure and the ecb will struggle. you're already getting to the point where it's building up and maybe the ecb won't do anything. francine: are you invested in italy and the political chaos, and will hurt the recovery plan or the long-term sustainability of italian debt? or is this a very italian situation? seema: i think it's a very italian situation. if you look at the last 150 years or so, typically governments last 15 months. this has gone longer than i think many people were anticipating. this is particularly italian. we think the general structu

this is bloomberg. francine? francine: leigh-ann, thank you so much. now let's get our top story. president-elect joe biden will ask congress for one point $9 trillion to fund immediate relief for the pandemic. >> this stimulus does not feel very well targeted. there are some channels, some parts of the stimulus that might if it is being spent effectively. >> it may not be this big at the end of the day, but i think it will still be a sizable number, because people feel like this is kind of the last big kind of cares act kind of issue. >> we will see where this goes, but this is an opening bid. there has to be a discussion about their vision for public health and economy and how they play out for the next six months and how they play out for this package. francine: joining us for more on this is our senior writer, stephanie baker. stephanie, how many surprises were in the relief package? stephanie: i do not think there were a lot of surprises, actually rated the headline, 1.9 trillion dollars, is huge,

this is bloomberg. ♪ ritika: "bloomberg surveillance "bloomberg surveillance this is -- this is "bloombergveillance." the canada convenience store giant says it is in talks. there is no guarantee discussions will lead to a deal. it has a market value of more than $15 billion. an acquisition would be a major strategy shift. it has focused on convenience stores and gas stations, not supermarkets. paying $4.4 million to buy telecom in latin america. american teller had largely stayed away from europe where companies are trying to raise money to cut debt and pay out the 5g rollout. and walking away from the takeover of fintech company played. the deal was aimed at expanding the network services. the government said lisa was buying -- two avoid an emerging threat to his online debit business. that is the bloomberg business flash. francine? francine: thank you so much. this is what the markets are looking at. they are looking at treasuries, at spreads between the u.s. ten-year stocks climbing. and that it will keep an easing monetary stance for as long as needed. the other thing i am looking at

this is bloomberg. ♪ ♪ anna: welcome back to "bloomberg markets: european open."til the start of cash equities trading. futures point to the upside after new record highs for u.s. equities yesterday. unilever is aiming for a tenfold increase in the amount it spends with companies owned by ethnic minorities. >> we want to spend a minimum of 2 billion euros annually with suppliers that are owned and managed by people from underrepresented groups, so women, people with disabilities, the lgbtq community and people of color. >> when it comes to the supply chain, what kinds of ingredients do you think will be the biggest contributors when it comes to those that are underrepresented? alan: both the commitments on fair living wage and 2 billion spent are across the entire value chain. it will literally encompass 100% of our ingredients. there is one area in particular that we are concerned about, choose the incomes of small rural farmers. many of them are an emerging markets. >> what do you make right now as the ceo of a massive come a multinational company, what do you m

coming up, "bloomberg daybreak: asia" after "bloomberg technology."san francisco. this is bloomberg. ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. ♪ >> the following is a paid program for u-box, sponsored by u-haul. >> hi, i'm nick. >> and i'm teresa. we want to welcome you to this episode of "moving insider." we are featuring the amazing u-box by u-haul. >> it is the go to

our earnings preview is next year on bloomberg. -- is next here on bloomberg. ♪ rishaad: this is bloomberg's foreign secretary says his countries ready to discuss a trade deal with the new u.s. administration. the country has been battered by covid and just began the world's negative vaccine program, including with its own, homegrown shot. speaking to bloomberg exclusively, harsh shringla said india has already begun shipping vaccines to other countries. harsh: last year, the prime minister in a statement categorically said the indian vaccine production would be made available to help all humanity fight covid. the first supplies of vaccines involve our neighbors. this is in keeping with our neighbor first policy. it includes the maldives, bangladesh, mauritius and the seychelles. in addition, we are looking at supplying sri lanka pakistan and other countries. when their logistical is in place. tomorrow, we expect a landing in bombay to pick up quantities contracted commercially for brazil and morocco for their immunization programs. this will be followed by saudi arabia, in addition to some

this is bloomberg. ♪ karina: this is "bloomberg surveillance."up later today, enterprise chairman and ceo carly fiorina. this is bloomberg. tom: "bloomberg surveillance," good morning. francine lacqua and tom keene. thrilled you are with us. so much to talk about here. without the distraction in washington, it seems that there is many two weeks of real tilt of politics in america and we really look at the politics and the medicine of this pandemic. the numbers are jaw-dropping. there are different ways to look at it. hong kong insubstantial lockdown. germany was in difficult numbers. monitoring this in brussels, maria -- what is the european distinction today? maria: what i would say it's a noun -- is they are now prepping the ground for another lockdown. every government agreed to the outlook is bleak, and it may mean more researchers are to come. this is a huge whiplash because a few weeks ago there was celebration, excitement. you member the media circus the european commission put on. now they say we can't forget about that and go into someth

just breaking on the bloomberg terminal. we understand he will sign 15 exec of actions today, right after the inauguration, to undo some of the actions in the past that president trump had been taking. the executive orders include plans to rejoin the paris climate pact and stop construction of the border wall. we will have plenty more on that . tom, are you seeing anything else? tom: it is a shifting era, 15 orders out of the many more that will be addressed in the coming days. it really signals, francine, the choreography of this day. obviously an original choreography coming back to the sense of the modern inauguration, which i am going to put with teddy roosevelt, and of course you can go back to lincoln's iconic first speech and back to the founding fathers. the ballet of the day begins here in new york and washington, at 5:00 a.m., with significant statements by the new administration. for more on this, let's get straight to marty schenker, bloomberg editor-at-large. 15 executive orders on day one. does this give us the

this is bloomberg. ♪ up next. this is bloomberg. ♪ amanda: welcome back to "bloomberg markets."laying in toronto alongside vonnie quinn in new york. we are watching the run-up elections in georgia. much hangs in the balance. emily wilkins is with us from georgia. i just want to start with the expectations at this hour. obviously, this is hugely important. what are you hearing right now? emily: right now, we are at an event for democratic candidate jon ossoff. he is speaking behind me right now. about 100 individuals have come out, not just to listen to him, but they will be canvassing in the area. the atlanta area, metro atlanta area has proven very critical in getting a lot of democratic turnout. you are seeing the scene from republicans, trump will be coming down here later today, biden will be coming down later today. it is a last-minute all-out push to make sure people turn for tomorrow's election. vonnie: the news cycle turns to the president's phone conversation with the georgia officials at the weekend. how will that impact voter imagine?do you emily: we have seen candida

this is bloomberg. ♪ emily: welcome back to "bloomberg technology."dent biden is now tasked with confronting a series of security challenges on tops of other national concerns, like containing the pandemic, repairing a battered economy. joining us to discuss the biggest threats his administration is likely to face in cyberspace, founder and co-ceo of iron net cybersecurity. general alexander, good to have you back on the show. where did the trump administration leave cyberspace? what is the biden administration walking into? >> i think you have seen a transition of cyber, something that hints to an element of national power. as such, the biden demonstration is faced with how we prepare a nation for something others can use against us as an element of warfare. what you saw in solarwinds shows the threat is big. what the russians did there in terms of stealing information showed the scale, 18,000 companies was the first stage. this is a huge capability they demonstrated. imagine what they did in 2017 to the ukraine, going after the ukrainian tax authori

this is bloomberg. tom? tom: thanks so much. on the equity markets after what we saw yesterday with the fix out over 29, we come back with 29 and 27 with the vix. futuresup eight, dell up 67 as well. -- dow futures up 60 fan as well -- dow futures up 67 as well. what you need to know is the real yield, inflation-adjusted yield has come down to a greater negative number and -1.10 right now, a little bit more -12 hours ago, but nevertheless the story here is rising inflation expectations. as you mentioned, you see it in gold. you are right, i have a great inflation chart looking at the 10 year that i pushed out from social media. european stocks are fluctuating, traders trying to figure out concerns about the impact of rising cases of covid-19, but also bracing for these key u.s. runoff elections. then you look at dollar, as you said, dollar falling, gold holding on. we will have plenty more on treasuries. both joe biden and donald trump holding rallies in georgia head of the critical senate runoff electi

this is bloomberg. ♪ >> this is bloomberg surveillance. i am leigh-ann gerrans.h korea, samsung has been sent back to prison for 13 months in a bribery case, a dramatic setback for the largest electronics company paid samsung has been trying to move beyond the scandal. he was first jailed in 2017 after being convicted for his role in a corruption case. goldman sachs has raised growth forecast for the u.s. this year and beyond the upgrade is fueled by the expectation that a biden administration will deliver large amounts of state fiscal aid and education and health spending. they protect the economy will expand 6.6% this year. the trop administration has reportedly lashed out again against china that the u.s. has told several of the huawei technology suppliers it is revoking licenses for the u.s. has been arguing that huawei is a threat to national security. that is your bloomberg business flash. francine. francine: thank you so much. we are talking about emerging orchids and we were talking about china and also that em sent me -- sentiment survey. we were talking

this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open."tes from the start of cash trading. let's get over to dani burger with your stocks to watch. before the break, we said we would kick it off with luxury stocks. dani: lvmh reporting sales of leather goods and fashion up 18%, that is a solid beat. wall street and analysts had seen a gain of 11%, strong demand from china's customers who are at home instead of traveling because of travel restrictions. luxury goods stocks possibly rallying on the good results of lvmh. we have to keep and i on in -- eye on inpost. a pretty good indication they will trade at the higher end of their initial price. this company is seeing a boom from online shopping. they have automated lockers which are helping them. finally, we cannot wrap up stocks without talking about possible reddit moves, because it is targeting short positions or anything melvin capital, and because of that they are short european stocks. they are short evo tech, and have the largest short of 6.2%. both stocks have rallied 10% in the pas

this is bloomberg. vonnie: this is bloomberg markets. i'm vonnie quinn.otarkets today moving around much, struggling for direction. the s&p 500 is flat. the 10-year yield is down a couple basis points. a pretty successful auction today. the bid to cover was higher than average. the dollar index is above 92. plenty of strength for wti crude, up 1.4%. to sukibe speaking cooper about oil later on. referringtrump harley to last week's storming of capitol hill in his first public remarks since then this morning. he did mention anger, though. speech, andad my many have done it, and i have seen it in the papers and in the media, on television, it's been analyzed, and people thought what i said was totally appropriate. into it with get steve pavlick, renaissance macro head of policy. i presume you listen to the remarks this morning, the first time we heard from president trump in a week, and a lot has including an, request from nancy pelosi to the vice president to remove him under the. what do you make of this morning's comments? steve: i was not that surprised.

this is bloomberg. ♪ haslinda: buncombe to bloomberg markets: asia.imes hereby i am. -- here where i am. stocks across the region extending the decline. fed chair powell says must not be blamed for high asset values. haslinda: jack ma attorney it into a financial holding company. david: gamestop grabbing attention on wall street and washington. keeping watch as retail investors hedge funds. haslinda: showing tentative signs of recovery after recession. and let's take a look at where we are terms of market. disappointing earnings. the economic recovery is a long way off, but policy tools will remain intact. concerned about rising infection. an interesting thing to note right now, down by 4.5%. definitely risk off. david: have a look. indian futures also looking at the kleins. barely higher at the philippines. gdp numbers, which we will talk about later on. clearly a risk off session, turning from what we saw a few hours ago. haslinda: investor news have multiple things to consider. apple overshadowing revenue. the fed chairman made it clear that they a

that is coming up, this is bloomberg. ♪ >> welcome back, you are watching " bloomberg markets: asia"ong kong -- despite reports a number of companies have moved operations out of the city sent a limitation of china's national security law. carrie lam talked us about what the cover government is doing to keep hong kong attractive as a global financial sector. >> may be there has been some family offices opening up elsewhere, but the money has not moved yet. i can understand that because of the political developments and also because of the social unrest. but it is natural for anybody with some access to think of alternatives, right? that is what this is. on a very serious note, hong kong will continue to strengthen our competitiveness in order to attack more capital. >> this weekend, the u.k. will start taking these applications from hong kong residents holding british passports and they suggested that they are willing to accept as many as 2.9 million, about three quarters of the hong kong population. do you think the u.k. has overestimated the interest on hong kong resident's holding

this is bloomberg. ♪ this is bloomberg.nie: the trading world has wrapped up in the gamestop's and beth bet -- and bed, bath & beyond's of the world today. retail trading sites are failing. let's get to romaine bostick with our stock of the hour. remain: great interviews there. you have to give the people what they want. what they want is gamestop. we can talk about the wisdom of the crowd support, upward thousand percent. more than 1000% over the last six weeks in gamestop. you see it on your screen. i will look on the side. you see that mother of all short squeezes is going on. this is not just combined to gamestop. there is a huge tug-of-war going on between a lot of the retail traders who are making bets on stocks that they think, or they feel should go higher here. the general idea here is look for stocks that have low flow, look for stocks that have high short interests, in relatively active options that you can exploit to try to push the stocks up. we have seen that reflection -- reflected in names like afc. you see

"his is "bloomberg surveillance on bloomberg radio and bloomberg television. jon ferro off today. we've got eight days left, eight days of drama filled action in washington, d.c. we have been talking about how nothing matters. it matters. people are just looking at money more than washington. the secretary of state, a massive controversy yesterday over yemen. real outrage, i'm told, across both parties on the hill today -- on the hill. today, esther pump ao commenting commentingr. pompeo on the "good work" the trump administration did. some of the beginning headlines of a historic tuesday. we will get to steve whiting in a minute. to me, the major message, if you can bring it up right now, the four day 10 year chart just simply shows yield up and price down. lisa: the idea that people are expressing the reflation trade in that yield curve that is steepening and that in your yield that is the highest since march 2020, but really interesting what michael collins said. how much more room does this have to go? at what point do people start seeing bonds as cheap relative to growth expe

bloomberg television and radio.'m david westin. to mark crumpton for bloomberg first word news. mark: the top story we've been following all day, it is election day in georgia. both president trump and president-elect biden held last-minute rallies on the eve of a boat which will determine which party controls the u.s. senate. republicans need to win just one of the two seats to maintain their majority. democrats need to win both. wallolls close at 7:00 street time, when our special coverage begins on bloomberg television and radio. in england, the government says one out of every 50 people has the coronavirus. prime minister johnson says nearly a quarter of everyone in the country over 80 has been vaccinated. speaking in london, prime minister johnson underlined his promise to vaccinate almost 14 million people at the highest risk by mid february. prime minister was speaking one day after placing the country under its third national lockdown since the pandemic began. european union says it will push to save the ira