ed: live from san francisco this is bloomberg technology. coming up the latest on arm and qualcomm after key tech license deal is canceled and why some analysts predict a tough road ahead for tesla ahead of its earnings report. we are live at b 20 in sao paulo where the conversation with google results president. let's get to our top story. shares of chipmaker qualcomm and a chip design firm are both lower this morning. arm canceled a license issued to his longtime partner qualcomm potential he leaving the leader in android smartphone processors without key intellectual property. the showdown could hit the finances of both companies ahead of a breach of contract trial in december. that dispute centers around acquisition qualcomm made of another chip firm that was already licensing arm designs and those blueprints passing onto qualcomm. bloomberg intelligent senior chip analyst has published his research with colleagues in response to that license cancellation. in joins us on set in san francisco preyed let's start your -- with your reaction.

this is bloomberg.es its ai video debut announcing new tools allowing for video generation. the company calls it firefly and it is set to be implemented takingonthe likes of openai, meta, google. the adobe ceo shantanu narayen joins us now on the back of the announcement in miami. what is interesting is you are eating into the hands of users faster than rivals. is it based upon what it is trained upon? how are you able to give it to us so quick? >> thanks for having me on the show. max is our biggest creativity event. it is the time our engineers take it upon themselves to show their magic to the entire creative community. as you point out, we have been hard at work ensuring our firefly models works on things like images, vector, and design. today is a big day because we have been releasing our firefly video models. our strategy has always been it is not just about the models that people developed but the integration with the apps where the real magic is. we have had 13 billion generations where people

then, bloomberg editor-in-chief in 2015. he is the uthor of books including the wake-up call, why the pandemic exposed to the weakness of the west and how to fix it. there is no better person to lead a discussion about global business, politics, and the economy. join me in welcoming bloomberg editor in chief john micklethwait. john: thank you, claire. thank you to the economic club of chicago. thank you david, particularly. i want to say two things at the beginning. first, for the rcord, and for the people watching on television, the economic club of chicago and bloomberg both invited vice president harris to a similar interview about her economic plans and she has declined so far. and to set parameters about the interview we will focus on busines and the economy partly because th s a business audience but also because voters insist the economy is the main issue that matters when they vote. . on that note, let me invite to the stage, president trump. [applause] >> i like that crowd. that is a nice group of people. ground mem

this is bloomberg.t closed the latest round and we're joined by the founder which has a history with open ai, wrote the first check into open ai and is participating in this round. that is where i want to start. we have discussed many times you wrote the first check into open ai. whfrls the -- what was the rationale in personing this time and why it is historic? >> i'm pretty optimistic about the impact that it can have in all parts of society. it is very large the next 10 or 15 years so if you are a long-term investor as i am it makes sense. ed: you have a fiduciary duty to your l.p.' and you are a long-term investor and i always put on social media that you're coming on the show and many in the audience says does he sense that an i.p.o. is coming for open ai so he's gotten into this round? >> we have not discussed an ideal structure today. caroline: let's talk about that structure. have you discussed being for more profit. >> we have possibly discussed changing the structure and that is probably all i

i appreciate you taking the time, bloomberg's julie johnson, covering aerospace for bloomberg news. let's stick with transports because the small down in the lecture vehicle demand was hurting some automakers on both sides of the atlantic. ford earnings due out this morning -- this afternoon. earlier today we also learned that volkswagen plans to close at least three factories and eliminate thousands of jobs and/wages are tens of thousands of german workers. for more on all of this, we are joined by bloomberg's detroit bureau chief, david welch and i sat next to matt miller for two hours every day, so starting with volkswagen, i've heard time and time again, this is huge. put it into context for us. david: this is massive and my condolences for sitting next to matt miller. volkswagen is underinvested in the main brand. it is struggling in europe and that has always been a big moneymaker for them because of the sheer volume and they have struggled a lot in china, as all foreign markets to the chinese market are -- all foreign automakers to the chinese market are. they had prophets co

this is bloomberg. sonali: this is bloomberg markets sonali basak. this private equity fund l two point announced its equity fund with capital. that money goes a long way with growth capital seeking new investors. we discuss it with managing partner kerstin dittmar. she started l2 point in 2018. it's an interesting time for you to do this. it's hybrid capital you are focused on. explain the structure and why it has become more interesting when you think about growth capital. kerstin: it is meant to offer growth companies and alternative to capital solutions that is less deluded or costly than traditional growth equity and does not come with the operational restrictions traditional debt products offer. companies we focus on and work with at l2 point tend to be at an inflection point where they could be profitable or self-sustaining, but they are seeing a very interesting growth opportunity in front of them and want to be able to continue throwing fuel on the fire. they are mindful of the cost of capital. they are mindful of what they may incur with th

this is bloomberg. ♪ tom: welcome back to "bloomberg daybreak europe."wan's premier says the government is open to the latest nuclear technology to meet surging power demand from chipmakers. he also told us how taiwan aims to diversify its economy beyond just its lucrative high-tech sector. >> taiwan's economic resiliency comes from the partnership we have with friendly countries. domestically we have a strong vertically integrated supply chain. this is why we believe taiwan can play a crucial role in the democratic supply chain. we are heavily reliant on high-tech industries especially in the rapidly developing semiconductor sector. for taiwan's economy to achieve comprehensive of growth, we cannot rely solely on high-tech industries. that slightly proposed a dual axis transformation for small and medium enterprises. we aim to help our traditional industries and small to medium enterprises enter the ai era. we will use government resources to assist them in adopting ai applications and integrating with this industry, allowing taiwan's economy to grow co

this is "bloomberg technology." ♪ caroline: welcome back to "bloomberg technology."m ed ludlow in san francisco. if you're waking up to financial markets this is what it looks like. the nasdaq 100 is kind of flat. a modest outperformance in semiconductors. bitcoin has come in under pressure. if you are an investor it is about weighing an escalating conflict in the middle east with economic data, a lot of hype around ai but no strong movement in either direction apart from a few single names. in an interview the ceo saying demand for blackwell, the latest gpu is insane. no direct correlation of the stock at one point trading at its highest level since august. ev go trading at its highest level since may 2023. it secured a loan from the department of energy. those are two movers. nvidia on a daily basis is still the name people are talking about. caroline: because it is worth more than $3 trillion. insiders have been catching in on what is a huge valuation jump. they have sold more than $1.8 billion in shares so far this year. yes menton is here to put this into contex

bloomberg reports the u.s. is reviewing caps on ship sails to the middle east from come days like nvidia. dell says it is ready to ship servers with ai accelerators. we speak to a key executive. days after tesla wowed crowds with robots, we now know they were remotely operated by humans after all. we start with news that could have a major impact. sources tell bloomberg news the biden administration and officials have discussed capping sales of advanced ai chips to certain countries. the sources at officials are focused on persian gulf countries that have shown growing interest in ai data centers. looking at the markets, these are the names impacted, nvidia, intel. it is worth noting part of the declines, if you are just joining us, have accelerated in the last 30 minutes, a really ugly earnings print from asml. ian king joins us in san francisco. the u.s. is looking at some of these middle east nations because they are throwing money behind ai. previously, officials were looking at china. what do we know about

this is "bloomberg technology." ♪ caroline: welcome to bloomberg technology. new york. ed: i'm ed ludlow in san francisco. caroline: you're the record high on an intraday basis. currently up .8% over the week. another volatile one trying to digest what the federal reserve will do in terms of rights, what it means for some of the main big winners in tech. what drags the nasdaq to a new record high today are the same names that led to 24% rally over the year, nvidia on top and also tesla finding seemingly breaking into some of the magnificent seven on the week at least. a number of key names outperforming. up .9% on the weekend more on the day. we have more when we are digging into individual names. i want to shine a light on apple. down on the week, but up on the day. notably, you are drawing attention to one key analyst report. we want to get into what keybanc is saying and why they think some analyst views on apple are too optimistic. there's a lot going on for apple mail. ed: particularly with onions on china and also next week apple plans a series of events

this is bloomberg. ♪ tom: welcome back to bloomberg daybreak: europe.bus deliveries fell 9% in september to 50 aircraft. compared with the same month last year. it comes as a rival boeing faces its own problems, including a strike by workers, which has shut large parts of its manufacturing. for more am joined by benny, who leads our global aviation coverage. this sector cannot catch a break. a 9% drop from this time last year for airbus, they should be stealing a march on boeing. what's going on? >> it's a weak set of numbers across the board if you look at what they had. they handed over 50 aircraft in total. that's below the long-term average they've achieved over time, which is around 55. september should be a month where they do reasonably well. where they are coming out of the summer break. but it's just not feeding through. they have persistent supply chain issues, a little bit of a warning for investors. there's a supply called senior. they had a fairly chunky profit warning. they blame it on what's going on at airbus and boeing. that gave people

this is bloomberg "technology." i graduated from southern new hampshire university. i always said i would go back to school when i had time. i went on our website, i spoke to an admissions counselor. we applied right then and there. that's when the journey really begins. going through the program, having the support that i had, really helped me understand what i can accomplish. and i learned this just by taking classes at night while working a full time job. the resources at snhu were incredible. i think if i was back at the beginning, i would choose snhu all over again. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh ed: day two of bloomberg's city lab summit in mexico city. over 500 mayors and policymakers, including those from kyiv ukraine, four million is being provided by bloomberg philanthropies for digital projects in ukraine. kyiv is a city using a.i. for urban planning, to san francisco maint indecency and security. th

this is bloomberg. ♪ katie: welcome back to "bloomberg markets." i am katie greifeld.ime for our stock of the hour. great news. we are looking at major banks broadly. the kbw bank index rising over the past week. we have wells fargo leading the upward move in the index which is at its highest level since 2022. for more, i am pleased to say we are joined by sal martinez who covers the big names. i want to start with net interest income. i want to talk about j.p. morgan. i thought daniel pinto told me nii is not going to be so great. j.p. morgan surprises on the upside. are you expecting more of the same and it comes to its peers? >> thanks for having me. i think it is about expectations. j.p. morgan on friday did not say anything different from a month ago. they did suggest analyst estimates of $80 billion is a material contraction. there is light at the end of the tunnel. i think that is what is going to be the results of the other banks. in the case of j.p. morgan, there is more pressure compared to other banks. jeremy indicated they do expect net interest income coul

this is bloomberg. ♪ tom: welcome back to bloomberg daybreak: europe.he pentagon says a u.s. visit by israel's defense chief has been postponed. bloomberg understands last-minute objections from israeli prime minister benjamin netanyahu were behind the move. for more our horizons middle east & africa anchor joumanna bercetche he joins me. why then was this trip postponed, to what extent is a link or not to the debate going on in israel about how to respond to iran? joumanna: the trip to the u.s. was built as an opportunity for the u.s. and israel to come together to potentially craft a common strategy on how israel was going to retaliate to the iranian ballistic missile attacks on israel one week ago. but according to an israeli official that bloomberg spoke to, it seems as though the prime minister himself had reservations about him undertaking this trip because what they wanted to do beforehand was to have an already established stat on what they were going to do before presenting it to the u.s.. so as we understand per bloomberg reporting is netanyah

this is bloomberg. ♪ vonnie: this is bloomberg markets.e stock of the hour. shares of levi strauss tumbling after it narrowed its full-year revenue outlook. the company revealing it is exploring a sale of its dockers brand should levi strauss president and ceo spoke earlier on bloomberg. >> we are confident in our long-term strategies for the business and we see the business growing to 10 billion in sales over time. our strategies are working. let me start with a little context for the quarter. this bike coming in at the low end of our guide, underneath that there is a lot of strength in the business. clearly we beat our profit targets, our earnings were strong and as it relates to revenue, we were up 3% on an adjusted basis. the levi's brand was up 5%. did have a couple areas that underperformed. namely our china business, mexico and on dockers. in terms of china, i would say we have our own executional opportunities. it is a big market. we see the long-term potential. vonnie: for more we are joined by julia who is reporting on this story

president joe biden and bloomberg founder michael bloomberg. that's where we will start. mr. bloomberg: none of the big challenges that we face can be solved by governments alone. all of them require cooperation not only across borders but also between governments and businesses. and the more the two groups work together, the better positioned we will be to seize opportunities to save lives and improve people's lives. pres. biden: it is the perfect time to go big, te economy is booming, the fed just announced a lower interest rate, which should give is this more confidence to invest trillions of dollars in the industries of the future. i'm doing my part and i'm calling on companies with capital in the room to do more. francine: the goal of the global business forum is to bring together leaders from government and business to assess risks and opportunities impacting global markets. at the top of that list is ai. here is bloomberg's eric schatzker with google's ruth porat. ruth: we do live in an extraordinary time in history, a generational time. i think the upsides are extraor

this is bloomberg technology. ♪ ed: this is "bloomberg technology."ay, live in los angeles from bloomberg screen time. you don't want to miss it. this is bloomberg. ♪ caroline: virtual clinic, the maven clinic says it has raised $125 million in his latest funding round, bringing the valuation to $1.7 billion. we are joined by the ceo. step stone group leads the round. sequoia coming on board. what to they want to see you do with the new funds? kate: big plans, as you can imagine. we are really excited to complete this fundraising round at a time when there's never been more needed in women's and families health. over the last decade since we started we have been able to build a confidence of care platform, deliver better access across fertility, maternity, pediatrics, menopause care and the next decade is about transformation and taking a lot of the data and distribution power we have to go even deeper to transform outcomes. caroline: your chief product and operating operator says it is a technology platform and health care company in equal measure. w

this is bloomberg technology. ♪ >> welcome back to bloomberg technology.aking a quick look at markets. it's hard to summarize what's going on beyond strong jobs data on friday for the month of september paring back the increment we expect to cut rates. modestly lower basically flat. the semiconductor index is flat. there is some single names moving to the outside. bitcoin pushing above 63,000 u.s. dollars per token print there's a lot of analyst noise out there. apple was downgraded over iphone sales pessimism for the analyst says high expectations for the iphone 16 and 17 are premature and analyst note on an iphone 17 that does not even exist yet. caroline: one that we will be digging in with another analyst at the moment. but let's talk about what doesn't does not exist. mark is with us and you been writing over the weekend about the cadence with which apple gives us products and ultimately about the timing mismatch perhaps with what's actually on the market. >> it's interesting because my point over the weekend i think is very much connected to what ana

this is bloomberg. ♪ tom: welcome back to "bloomberg daybreak europe."he u.s. is sending an advanced missile-defense system, including the troops that operate it, to israel. iran's foreign minister says charon has no red lines in defending itself from threats, and that the u.s. is butting lives of its troops at risk. our horizons middle east & africa anchor joumanna bercetche joins me. there has been a lot of news flow out of this region over the weekend free let's start with this missile-defense system. the thaad defense system the u.s. is sending to israel, what does it tell us about u.s. support, about potential vulnerability in israel as they weigh up retaliation against iran? >> that's right, tom. the news came out yesterday. pentagon said they are supplying israel with this high technology advanced missile-defense system, known as thaad, terminal high altitude area defense battery, alongside that they will be sending 100 u.s. soldiers to help equip and support with the launching of the system. this would be the first time u.s. army is deployed to i

app the bloomberg global dialogue. to the u.k., a focus on the pound as of the pound moves lower by around .51% -- of 1%. the bank of england governor enter billy is given an interview to the guardian in which he says, and i am quoting from the guardian, the bank could become a bit more aggressive in cutting interest rates again provided the news of inflation continued to be good. a couple of other lines coming through with the boe governor saying the economy was more resilient than expected, living costs pressure is not as persistent, and to guess watching the middle east events very closely. the key line that appears to be moving the pound lower is he sees a chance of more aggressive rate cuts. coming up openai's latest funding round values it it just $157 billion. we have a look at it was backing the mega start up next. we will also discuss openai and the boom in ai investments later in the program with yan taw boon on how to invest around the genai hardware and software ecosystem. that is coming up. this is bloombe

this is bloomberg.d procurement software startup zip is changing the way companies obtain the supplies they need to operate in recently announced its latest funding. here with more is the zip founder and ceo. the back story is interesting and worth getting right to it. you used to work at airbnb and you had a specific job and you are basically like this is not working so you went with some friends and colleagues and design something better and were like let's start a company that does this. that is pretty fair? >> that is absolutely fair. my colleague and i were at airbnb and had to go through a confusing procurement process of where we had to buy something one or all of the approvals between budget and i.t. and security and all of the different teams and that is what we started zip to solve for by providing one front door for any employee in the business to request a purchase. caroline: i am interested that you are ai powered. is this generative ai or more broad ai? you are serving openai so you built

haslinda: ed ludlow, bloomberg news technology reporter and cohost of bloomberg technology.nty more ahead. keep it here with us. this is bloomberg. ♪ instead of trying the latest weight loss fad join over 5 million people that have switched to golo as a better way to lose weight with golo you simply take one release supplement with each meal and follow the golo for life plan the seven natural plants and three key minerals in release helps support weight loss by targeting body fat and combating the stress of dieting golo is the effective & affordable weight loss solution get started today at golo.com thats g-o-l-o dot com ow! uh oh. you, ok? no... i mean yeah. -just hit my melon. -yikes! should we see a doctor? i can't tell a doctor i slipped on a toy. i'm a triathlete! i had a concussion. most happen doing ordinary things. sometimes the tough thing to do is to get help to prevent serious damage. i like your sensitive side. don't mess with your melon. if you hit it, get it checked. >> i think we probably would get some guidance. but i think what the market is hoping for, like

this is bloomberg. ♪ ed: this is "bloomberg technology."ut the bloomberg technology podcast. you can find it on the terminal, as well as online. this is bloomberg. caroline: conspiracy theorists believe that donald trump won the 2020 election are making plans online to monitor and film polling places in swing states. a move that some groups are -- groups argue amounts to voter suppression. this is surrounding the messaging app telegram in particular, were these conversations are happening. >> that's right, caroline. telegram is a popular app, and it has gained more attention in the united states over the past couple of years. there are large communities, tens of thousands of people. many of them in swing states, who are making plans and trying to coordinate to take efforts to do what they describe as stopping another stolen election. ed: jeff, i'm not a telegram loser. it is a cloud-based messaging app, right? explain literally what people are doing to communicate, but why it is noteworthy, why this is a news item in the context of this ele

this is real yield on bloomberg. sonali: i am sonali basak can this is bloomberg real yield. the auction block. we take a trip around the credit world starting with europe. it only attracting a record 200 billion euros of orders for two new bonds capitalizing on last week's outlook upgrade by fitch. demand is the second highest ever for a dual sale in europe. in u.s. high-grade to slow with weekly sales missing forecast a second straight week. one highlight was a bank of america 73 $.5 billion of subordinated body. the major bank joined its peers which collectively sold more than $19 billion of bonds last week. in u.s. leveraged loans it's really fun this week. companies issued a record $986 billion, nearly a trillion dollars of debt this year passing the 2017 level as the busiest year for new issuance with most of the volume coming from companies refinancing current obligations or locking in lower margins through repricing. speaking of credit debt due room already for moran's investors aren't getting the bank for the buck on junk-bonds riding high yields is decidedly rich at

this is bloomberg technology. ♪ >> welcome to bloomberg markets. to a session high even with potential potholes ahead such as the cpi print. the fed minutes in just a bit in her kate middleton. it's get a quick -- just a bit and hurricane milton. up 6/10 of 1% now close to its all-time high. the nasdaq 100 up 7/10 of 1%. a few stand out stocks like

>> this is bloomberg, i'm tom in london. european and u.s. futures climb after snp notches a record earning and oil tumbles. israel will of alluded targeting iran's infrastructure. u.s. weighing capping sales beyond china of chips. x keir starmer rejects that the u.k. is raising capital gains to the highest as he tries to calm down investors ahead of the budget. more from our interview throughout the hour. ♪ >> it's a big day for earnings but erickson coming through with earnings in terms of numbers, adjusted earnings, 7.3 billion, estimates were a beat. 46.3% for erickson, fourth quarter adjusted margins 47 or 49%. deal kicking in, stock at 29%, 24% in fact. we will watch that at the open. yes we had another record powered by technology. positive session, volatility in chinese stocks. adding 3/10 of 1%, snp looking to add a 10th of one percent, let's flip the board. caution, patience, euro-dollar softer, we lead up to the ecb decision. gold is at 2642 so let's cross over to avril with a check on the asian markets. avril: positive handle is t

sonali: welcome to bloomberg markets. investors are trying to come to grips with two big data points today hotter than expected inflation and a slowdown in the labor market. let's check the markets. s&p 500 roughly flat sign for the nasdaq 100. a little green on the screen but not much. the two year at 396. an interesting website this morning. the 10 year at 407 almost 408 roughly flat. still movement in the two-year year. hit about 4% days ago. mid-day movers on the equity side. abigail doolittle joins us. after their prime day event, two days. they say it is the biggest october sailing event they have had. more shoppers since last year. it has been a rocky week for amazon. earlier this week downgraded by bernstein on concerns they may be relying too much on the cloud. it does seem that their e-commerce business is doing well. shares of tesla. today they unveiled a robotaxi. shares higher. they had been lower earlier today. right now up slightly. they're fully self driving vehicle -- lots of pressure to see their fully s

this is bloomberg. matt: it's bloomberg markets. i'm matt miller. just at that hour. general motors is set to unveil details of a new ev battery strategy hoping a new tesla executive can help the company in a different direction. david welch is live from detroit. how important is this? is it life or death in terms of the future of a carmaker if we are going to go all ev anyway? david: they will have to make changes here. every company is as they look at their battery strategy going forward. batteries are the most expensive part of and ev. it is what makes them lose money right now and put them out of reach for a lot of consumers. because they looked at this same, the idea of one battery fits all, the modular battery using pouch cells, it worked to get a lot of vehicles out quickly and now they are realizing there are other ways to get cost out, fitting more cells in one pack without the modules, perhaps, using prismatic cells because you can fit more in a pack. anything to get more so in a pack unless other stuff so batteries are lighter and cheaper and over time you

this is bloomberg. ♪ tom: welcome back to "bloomberg daybreak europe."vmh fell as much as 10% in u.s. trading after the luxury goods giant missed estimates with third-quter earnings. lower chinese emand led to sales falling for the first time since the pandemic. we are joined by global managing editor rachel chang. not a big surprise on some levels that there is software demand out of china for luxury goods. the numbers within the mix for lvmh causing angst for investors. >> definitely so, we have seen bad numbers for luxury brands in china for most of the year but this set of results was a shock to the market and will continue to play out as europe wakes up because things seem worse than expected. the drop in china revenue was expected. that happened last quarter but there was a drop lower than estimates in the important fashion and leather sector for lvmh. that hasn't shown bad results since the lockdown in 2020. this is as bad as then pay last quarter, we saw bright spots. japan was doing well for lvmh last quarter because we saw chinese tourists goin

this is bloomberg. ♪ caroline: welcome back to "bloomberg technology."aking a quick check on the markets, the s&p 500 is off session highs but i one point reached a new high on an intraday basis with technology having a park to play. many names to the upside. nvidia, you will not be surprised to hear, is one with some carry through on the optimism around tsmc guidance. for those just joining us, those are the tsmc listed shares. this is the contract manufacturer of chips of the world saying yeah, things are pretty good, 2025 outlook looking pretty good, in stark contrast to what we heard from asml, the company that makes machines that makes the chips. netflix is down 1% and i flag it because we are going to talk about it later in the show with its earnings after the bell. maybe that is positioning? who knows. caroline: in the financial sector, ai adoption is rapidly increasing. the rate of ai utilization is happening twice as fast in the top performers and top 10 banks of the index. alexandra, it seems that if you put a lot of talent, focus, and energy i

this is bloomberg. ♪ sonali: this is bloomberg markets and i am sonali basak.time for the stock of the hour, ingram micro returning to public markets and started trading this hour after raising more than $400 million in the ipo and it was an ipo that was at the top end of the middle of the range. it is backed by the pe platinum equity which will continue to control 90% of the shares. platinum acquired the group from china's hna group in a $7.2 billion deal in 2020. joining us now is the ceo himself. ingram micro's paul bay. talk about the experience. one thing fascinating for folks is that it has been a hard year to go public. the pipelines are just starting to open up. companies in your space tend to command significant valuations. you did not raise at the top end of the range. what were some of the opportunities and challenges as he went through the process? paul: we are excited because we got a great list of investors while we were having conversations. the story resonated about what we invested in. so we talked about where we invested ahead of the curve and

this is bloomberg. ♪ lizzy: welcome back to bloomberg daybreak: europe. six: 17 a.m.n london and we have bank earnings to bring you this morning, including from ing. it's raises total income forecast for more than 22 billion euros ahead of estimates. the dutch lender also announcing a 2.5 billion euros share buyback and i'm pleased to say i'm joined now by the cfo. great to have you with me. let's just jot through your view of how the third quarter has gone for ing. raising your outlook for 2024 total income. quick thank you very much, i think i would characterize the quarter is being very strong. we have printed a good set of numbers at this quarter, customer growth has been strong. i think lending growth has been strong, particularly in mortgages where we see growth across all of our markets. i think we recorded over a billion euros in fees, which is a record for our franchise over a three month timeframe, risk cost looks pretty solid, about the same as the previous quarter. and as you mentioned, these good set the result is a lot of investors do is share buyback, w

welcome to "bloomberg markets: asi." hong kong and mainland china stocks lose momentum after investors were left disappointed bthe government's latest move to support the econo. the worries of china see into commodity markets with oil seeing big drops. keep an eye on tensions in the middle east. tata noel appointed the head of the new trust. taking a look at markets, it is about china on the back of the briefing we had over the weekend. csi gag much as 1.5 percent earlier in the day. given up most of the gains. were seeing higher volu it investors mulling china's promise of more support for the property sec also government borrowing to boost the economy, banks, property plays are pla csi index up .3 of 1%. w noting, china's enched deflationary problems. export growth probably slowed, imports valued above zero. we are tracking the yuan, the fixing within one pip of estimates. yen, 149 point 41, inching to the 150 mark. the anticipated finance ministry briefing lacked firepower equity investors had hoped for. beijing is pr

this is bloomberg. sonali: this is bloomberg markets. i'm sonali basak.time for our weekly etf report when we check the latest news flows and trends tied to exchange traded funds. bloomberg's emily graffeo is with us to tell us about a flurry of new potential etf's call to battle shares. emily: there is a new filing out there that came last week for etf's. if they are from title exchange traded funds trust. they are funds that do paired traits of different companies. they have not been approved yet. if they are approved, etf traders will be able to buy an etf that goes longer coinbase, shorts wells fargo come along eli lilly, shorts yum brands. the idea is that there are two stocks in each funds and they are supposed to be inversely correlated. you bet against one and short the other. sonali: not your average hedge fund trade. emily: it's not. i don't think that there is any hedge fund out there doing the weight loss versus snack trade. but it is a funny idea to think there is demand out there. we know that derivative based etf's have been wildly popular.

this is bloomberg. ed: this is bloomberg technology. we are live in las vegas at money20/20.eally a fintech focused cons -- conference but ai is front and center. you have a background in fintech. now you are in ai and doing a lot of business with banks and financial services companies. one difference with anthropic is the focus on the enterprise customer and did it early. give me a sense of the slit and how much business you are doing -- split and how much business you are doing. daniela: anthropic really has the opportunity to support enterprises across a wide array of different industries, so health care, legal services, financial services have been early enterprise customers for us and we believe this is in large part because of our focus on building for businesses. financial services has always been a cornerstone for anthropic as we have built and expanded models. ed: how are banks or investment firms daniela: using your models? daniela:so much of what we have seen especially over the last year is these companies becoming more sophisticated over how they are integrating

this is bloomberg.d cofounder, industry veteran, mike morheimes working to replicate the videogame ceo success but without making the mistakes that have impacted the company's reputation in recent years and in particular the culture. his new company is dreamhaven announcing a new title today. it has not said much since starting in 2020 and i'm delighted to say mike is here in person. the back story of blizzard. we can go into how for many people watching this around the world some of the original titles, i am a child of the 1990's, was a big part of their videogame history. you have a title out now. it's the big moment for your studio which you founded in 2020. the basics of the game and why it's important? why it will stand out. mike: this is a big moment for us. we have been working on two games internally. secret door just announced their first game. sunderfolk, a couch co-op tactical rpg adventure, but you complain with your friends, inspired by the magic of tabletop gaming. ed: this is a 2025 thing

bloomberg co-wrote the big take.a household but i'm using chat gpt for voice input so much more. it's an incredible di section of the struggle amazon is having bringing alexa into that field. >> yeah, it's pretty wild. just think, it's been already almost two years since chat gpt launched. meanwhile, microsoft, google, even apple have rolled out a lot of a.i. tools and yet we haven't seen anything from amazon despite them having more than a decade lead in the chatbot space. they're in 500 million-some households with their devices but they've been struggling to move that old alexa brain to sort of a new l.l.m., large language model, approach. and they've been dealing internally based on the sources we're talking to with tons of i had lose nations, strug -- hallucinations, struggling with basic tasks like turning on and off light, and watching this company which is famous for data structure, cloud computing with a.w.s. and alexa really fall behind in this a.i. war and there's a lot of questions over whether or not the

this is bloomberg. ♪ scarlet: this is "bloomberg markets." i am scarlet fu.is time for a new weekly segment called the etf report. of course we had to bring in bloomberg etf iq cohost katie greifeld. we are taking a look at china. the markets are closed but there is so much action going on. katie: big time. that is the fun thing about etf's. they keep going. you take a look at k web. that is the csi china internet fund. the biggest china focused etf listed in the u.s. it launched in 2013 and has $7.4 billion in assets. if you look at the daily flows in the last available session it took in $700 million. the biggest one-day inflow for the fund since it launched in 2013. it shows you the degree to which investors have conviction right now in this turnaround in chinese equities. scarlet: part of this is tied to that investors were not exposed at all to china. it was so underinvested that people say it is un-investable at this point. katie: you are completely right. with this one in particular it has a painful history of burning investors. it fell by more than 50

tom: eleanora from bloomberg economics, indeed.st speech from the prime minister of course and potential implications. coming up, u.s. dockworkers go on strike. i will bring you the fresh comments, the latest from the union and implications for u.s. economy up next. this is bloomberg. ♪ tom: major ports in the u.s. have shut down with dockworkers on strike as long as needed. they have the capacity to handle half half of trade volumes. brendan, what happens next, love? brendan: the biden administration will come under pressure to end the strike. business groups are saying this cannot go on. it will snowball into pain we cannot afford. the union said the offer fell short. they said they were prepared to fight so strong words but does not sound like the union is offering concessions. tom: what is your assessment of the impact on the u.s. economy? brendan: anywhere from one to $5 billion a day so this goes on for a week, half a million containers will stack up. ships will be anchored outside the port and work through the backlog. so it

this is bloomberg. ♪ tom: welcome back to "bloomberg daybreak: europe." german government has promised a growth package in 2025. the chief executive adviser spoke to bloomberg from berlin about the need to lift the country's growth rate. >> it's definitely too low. we are struggling to get positive growth this year. but the more fundamental problem is that we not only have a cyclical growth issue we have a structural growth issue tom: very pleased to say i'm joined now with an exclusive interview with the founder and chairman of the berlin global dialogue which is taking place here in the german capital he also served as chief economic adviser to former german chancellor angela merkel. someone who is very well positioned to talk about the economy. thank you for joining us bright and early on a big day on the global dialogue. we heard you were the predecessor -- predecessor. so you know him well. the german economy is struggling. this is an issue for global growth. the german government piece? growth this year. what is going on with the german economy and

bloomberg mliv strategists.der market, this is how it's shaping up to be a pretty muted, pretty quiet day for asian markets. take a look at where we are in terms of the msci asia pac index. 20 -- pretty flat. gains off at the benchmark in the philippines. remember it's pretty muted as well because china, korea as well as hong kong are on a holiday. msci asia being index up .02%. in terms of the epic space we have asian currencies under some pressure there. taiwan dollar, ringgit and rupiah, which have been out performance this year under pressure right now. that is it from bloomberg markets: asia. horizons middle east & africa is next. keep it here with us. this is bloomberg. ♪ joumanna: good morning. our top stories. israel says it has begun targeted ground

this is bloomberg. ♪ tom: welcome back to bloomberg daybreak: europe.sraeli prime minister benjamin netanyahu says he is open to a short truce in the country is more with hamas that would lead to the release of a small number of hostages still held by the iran backed militant group in gaza. does this suggest that a truce in gaza, even if it is short, is getting closer? >> in some ways, there has been progress because the gaza truth talks have been stalled. take your picks two or three months or longer depending on how you define it. they've gone absolutely nowhere in that timeframe. the fact that negotiators are backing qatar talking about how to get a deal is certainly progress of sorts. egypt is proposing a 48 hour truce initially for the release of four hostages and the release of some palestinian prisoners from israeli jails. there are 101 hostages remaining in gaza, many of those, perhaps 30 or 40 are thought to be dead. but, there are still many obstacles to overcome in israel has said it has not actually received a formal proposal for this today

this is bloomberg. ♪ tom: welcome back.chief economist sees a rising chance that the fed will leave rates unchanged as the u.s. economy grows. it is a view that seems to be getting traction on wall street as some data suggests of the economy is flirting with a no landing scenario. joining me is isabel, the cio of close brothers management. do we need to be pricing in a pause for the fed in november? >> i think the exact timing of a pause is open to debate. there are some real truth here in the market has massively been overpricing the amount of cutting that was likely and now pricing is looking much more realistic. november, december, i don't think it matters a huge amount. the key point is we are seeing more rational price expectations this year. even going into next year. i think it is next year and looking at where rates trough where there is still some repricing that needs to take place. so far, it is a little less from the fed because of the economic strength you mentioned. tom: are you looking at 5% on the 10 year in

check out the bloomberg technology podcast. this is bloomberg.e: we hear a lot about elon musk's brain computer start up neuralink, but it is far from being the only and the field. inbrain announced today it has raised $50 million to develop its neural technologies. let's bring in the ceo and cofounder for more. how soon might we see such things as parkinson's and other diseases tackled and how? >> thank you for having me here. hello, new york. very soon because we already treated two patients on our study and last year we obtained fda designation so we are providing the fda reasonable proof so this funding round is going to help us get there in the next few years. ed: cinque ron -- neuralink is the insertion of thin wires into the brain. how does your technology work? carolina: it is a technology that sits on the brain, on the cortex of the brain and has a deeper probe. together, it is able to decode information with the brain with specific biomarkers and actually restore such function. this communication with the brain is able to decode and rea

this is bloomberg. ♪ tom: welcome back to bloomberg "daybreak: europe."amas fired a barrage of rockets towards tel aviv yesterday a year after it launched its attacks on israel. sirens sounded across central israel but the military said it intercepted most of the rockets. hezbollah fired 130 five rockets at northern israel while israeli jets carried out heavy bombardment of lebanon. joumanna bercetche joins us. it has been once again a busy 24 hours for this region and more challenges for the people on the ground across this space. what do we know about what has unfolded in the last 24 hours working the one euro since the devastating attacks on seven october? >> october 7 is a day of great significance. what you saw were multiple ceremonies taking place around the world including at the white house. president biden held a candle lighting ceremony with one of the rabbis that was close to the hostage family, one of the families whose son lost his life during captivity. a solemn day for many around the world. but it is also a day of increased militant activi

this is bloomberg. ♪ ♪ tom: welcome back to "bloomberg daybreak: europe."says it bombed more then one doesn't hezbollah targets -- a dozen hezbollah targets in beirut as it g7 nations warn against an uncontrolled cycle of escalation in the middle east. the region is bracing for israel's response to iran's meso barrage earlier this week. rosalind mathieson joins me with the details. ros, what do we know at this stage about israel's potential response? how crucial is this weekend in terms of potential step up in terms of how israel response to what was another historic week for this region? >> basically, a very delicate calculation for israel at this point. what do they do to respond to the ballistic missile strike that iran did on them earlier this week? what's a calibrated response. . it has to be more in the tit-for-tat that happened back in april, so it's going to be a more intense response this time. but again, it needs to be that response that sends that message without tipping it even further into get a higher level of escalation. what does that look l

this is bloomberg. sonali: this is "bloomberg markets. it is time for the stock of the hour. we will look at morgan stanley surging. i was age to speak with their c.e.o. to get his take on the report. >> if you look at our fixed income base it has been really a stable business which has underlying volatility part of what foreign exchange and rates and credit are. but they have been stable. i feel like in both businesses there's an element of the leaders pulling away from the pack because it costs a lot to run those businesses every year. sonali: just less than a year into the job and record print here and we will have bloomberg crypto coming up. stick with us for that conversation next. it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why wo

this is bloomberg. tom: welcome back, kamala harris argued a trump presidency would be steeped in chaos. harris: we know what trump has in mind. chaos, division and policies to help the very top and hurt everyone else. i offer a different path and i ask for your vote. tom: she spoke at the same spot that led to chaotic scenes. let's bring in derek wall bank. what challenges does she face? >> it's a razors edge with seven states that will sort of determine who will win and polling averages have every one of them very tight so it is hard to say which way this goes. you can read good things in, voters are in force early in georgia, nevada, but harris is polling better in michigan and seeing a wide gender gap and when you say that women tend to vote more than men so women voting more for terrorists, men voting for trump, that is probably good news so you can kind of get a little bit either way. to call. >> what is the latest on trump? derek: if you ask me which one state do i want to know the outcome of it