we just got some breaking news across the bloomberg terminal. a lot of earnings out of australia today. south32 the first out of the largesthe world's producer of metallurgical coal, so heavily involved in steelmaking. we are seeing a 1% drop in full-year net profit, down to $389 million. that is in this as well. .evenue was down 4% we also saw the dividend coming in weaker than expected as well, ..8 cents on the year last year, we had 6.2 cents. bit of in this therefore south32. we will have an interview with the ceo coming up a little later at 10 minutes to mid day in hong kong, just before 2:00 p.m. here in sydney. still to come, qantas also out with earnings. they could post a second-half profit boost. we will be on the lookout for the airline's latest results. next, randy one says interest rates will not go negative in the u.s. more on that in just a minute. this is bloomberg. ♪ shery: as the fed prepares for its annual jackson hole symposium, everyone will be looking for signs of where the economy is headed. investors will be keeping a clo

bloomberg subscribers can go to go on the bloomberg terminal. feet so you only get the industries and assets you care about. this is bloomberg. ♪ korea's removal from japan's so-called white list of preferred trading partners formally comes into effect today. if this trade spat drags on, who wins and who loses? now, it seems japan is in a better position. japan provides materials that go production of semiconductors and displays in south korea. also, when it comes to components like rubber, plastic, 'sd machine parts, south koreans reliance on japan is pretty high. be good forwill not korea incorporated in general. : japan obviously the far larger economy, but is there any area where south korea might have the upper hand? >> tourism is one area. last year, about 7 million south koreans traveled to japan while 2 million people from japan came to south korea. this is already putting some pressure financially on some of the regional problems in japan are kind ofreans hoping this will put enough pressure on the prime minister so he can retract the t

annmarie hordern, our reporter covering trending stories on the bloomberg terminal. ething everyone is paying close attention to. exclusive shares in chinese auto targets pop up as volkswagen shows interest in growing its spot in the market. this is bloomberg. ♪ matt: welcome back to "bloomberg markets." day,nutes into the trading looking at decent gains across equity indexes. most developed central banks have shown caution. the reserve bank of new zealand surprised market with 50 basis points. now, the governor says he can't afford to wait and see if or considering further accommodation. we spoke exclusively to the rbnz head at jackson hole. , we wereg forward saying everyone is telling us we needed to be lower. everyone is telling us global growth is slowing, so let's get ahead of this. let's move now and reduce the probability of doing more later. >> are the downside risks materializing? banks of newthe zealand's manufacturing index post its first drop below 50. signaling contraction for the first time in seven years. >> without doubt, there has been a lot around u

bloomberg opinion editor in milan. you can check out his work by pin on the terminal. let go to annabelle droulers in hong kong. nabelle: thanks, matt. the eu is already probing facebook's libra cryptocurrency project, according to a document seen by bloomberg. the antitrust probe is looking at concerns that the payment system could shut out rivals. facebook and the european commission both declined to comment. a breakdown in communications. that's what a review of boeings is expected to cite, alleging designers did not understand key elements of the plane. it is said the approval with a key safety board highlights the need for improvement. -man's place in the marvel universe looks to be facing a bigger threat than thanos. the dispute between sony and disney is threatening to end coproduction of the superheroe'' films. sony wants to keep the current arrangement where disney gets 5% in box office revenue. that's your bloomberg business flash. matt: annabelle droulers there in hong kong with your business flash. putting money into assets guaranteed to return less than their face value seems counterproductive at th

you can get the work of his team under bloomberg terminal -- on the bloomberg terminal. thanks for joining cio at royal london asset management. he will be continuing the conversation with us on radio. tune in on the dab network in the london area. otherwise, try bloombergradio.com. up next, we bring you our interview with the ceo of uber. that's next. this is bloomberg. ♪ matt: welcome back to "bloomberg markets." we are 44 minutes into the trading day, looking at green arrows across european equity indexes. it has been two years since dara khosrowshahi took the reins at uber. -- in that time, they have gone public and faced criticism and have posted billions and billions of dollars in losses. emily chang spoke exclusively to the ceo and he says he is happy with the company's evolution. we have resolved all of the governance conflicts that a company has. there were many legal issues the company was involved in. we have softbank as a partner and you want them to be behind you. we have a great investor base. we have taken the company public and company revenue gross booki

bloomberg subscribers go to dayb on your terminals. can customize your settings so you only get the news on the industries and assets that you care about. this is bloomberg. ♪ a quicket's get you check of the latest business flash headlines. hsbc said to have an internal candidate in position to become the new ceo. the current chief financial officer joined the bank in january. sources say he has quickly established himself as a leading force and forged a strong chairmanip with tucker. hsbc has been shrinking its international footprint to cut costs, but the strategy has yet to pay off for investors. a bank is looking to raise $270 million from a share sale to institutional investors. discount.ng a 6% investors have said no to yes bank. shares down more than 50% on concerns about capital levels. : sales, bookings, and monthly users missed estimates of the stock is down to its low as levels since may. here now to go through the numbers with us is wedbush securities indeed director of research. thanks for joining us. we were expecting --

thank you check out our gtb library for some of the charts we've been talking about on the bloomberg terminaloil, our bloomberg energy reporter joins us from denver. tell us what we learned from saudi officials a few hours ago. rebound asee crude little bit in after-hours trading after saudi arabia said it was in talks with other major producers to figure out how to halt the slide. they said all options are on the table. i think the question is -- what are those options? some members will be meeting in abu dhabi in september and i think it will be in or misleading fortune for the market as we look for signals as to cartel might do next. paul: what can opec and its allies realistically do to halt the slide? >> right, that is the question. one obvious solution is to cut production which opec has been doing all year long with saudi arabia really taking the brunt of those cuts. in think that thinking now is that this quarter is really to drinkt, best chance global inventories before demand softens. canthe question is how long this go on before u.s. shale production ramps up. he had the saudi's ta

let's hop into the bloomberg terminal and see the chart at gtv .'s take it back to the september where the stock had tripled. the stock showed patience redistrict -- reduced the risk of a heart attack or stroke by 25% with little side effects. that boosted the stock for some time as there was a lot of optimism about the potential this treatment and speculation that maybe ameren would get taken over. there were concerns after that massive rally brought the stocks down. back in may, the fda gave amarain a fast-track process. it our own already been approved to treat patients. after that, there were a couple of road bumps. in july the group filed a citizens addition questioning the patent for the manufacturing of the drug, and just yesterday the fda said that despite giving at the expedited review process, it will hold an advisory panel to review the expansion of this drug. that regulatory delay has kept the stocks under pressure. we are now trading at the lowest level since january. david: thank you so much. we welcome john thero, the president and c

paul: breaking news on the bloomberg terminal, earnings from virgin australia. -- a full your loss of. virginal straight saying it would not pay the final dividends this time around. most virgin shares are now held by big profit players, only about 10% of it is free-floating on the market there. virtual shares have been declining all year, a pretty sorry set of numbers there. word check in on the first news now. >> president trump has returned from the g7 and wasting no time reviewing his -- renewing his attacks on the fed. he cues jay powell and his colleagues of standing by watching american manufacturers struggle with exports, adding that the rest of the world has long been taking advantage of the u.s. and the fed has been calling it wrong for too long. saying the central bank should reject the u.s. demand for rate cuts and not bow to pressure to fix the damage caused by his trade war. by exceeding to the white house it could just end up encouraging trump to escalate the trade war even further. and a charge of stealing technology from alphabets waymo unit. he voluntarily surrendere

. ♪ paul: just to get across some breaking news on the bloomberg terminal.e earnings in what is earning season ramping up. gold miner, full-year net income, $561 million, big lead on a year earlier, 200 $2 million from a year earlier. we have seen in figure run-up. full-year dividends for new crest. share.nts or that was a beat on the 11th sense on the year. star entertainment, one of the gaming stocks and australia. net worth up 34%, but we have $.10 per share, star likely to face competition from crown here in sydney as well. more to come on "daybreak australia." this is bloomberg. ♪ on a chilly.m. here friday morning. futures currently pointing lower by about .3%, which might stem some of the selling we saw on thursday. the rba having its worst session in 18 months. more losses expected today, but just not quite so bad. i'm paul allen in sydney. shery: i'm shery ahn in new york where it's 6:30 p.m. let's go to first word news with jessica summers. jessica: china has lost its status as america's top foreign predator as japan became the leading holder at tr

some out our library for of those charts we have been gtv on the bloomberg terminal. chip surge was a nice reprieve from recent losses but the supply chain is already shifting operations. i guess joins us from san francisco. earlierhearing a little mademaker of hp computers the decision to shift manufacturing to taiwan out of china. this sort of illustrates the point that day-to-day shifts in the trade dispute don't really affect the longer-term picture of having to reorganize the supply chain, does it? >> we have been dealing with the tariffs and the changes to the supply chain since followed last year reminds us that the threat of tariffs caused the taiwan supply chain to start shifting operations outside of china, and those actions actually accelerated into early 2019. what we have been seeing is taiwan, along with other manufacturers, diversifying more outside of china, simply not knowing what the outcome of the tariffs would be. at the same time, there pockets of excess inventory in the supply chain is manufacturers move operations outside of china. it has been v

terminals. it is also available on the mobile bloomberg anywhere app.his is bloomberg. ♪ shery ahn: this is daybreak asia. york.hery ahn in new paul: i am paul allen in sydney. the first production ready electric smart car. -- car for this company. how they plan to beat the competition. we engineered this vehicle transportation and smart cities. lei: this architecture can help us to have more smart features on our vehicles. they can use our software and hardware to provide some things. >> what segment of the market are you targeting with this vehicle? >> high-end and middle sized remain vehicles. we can develop about four or five vehicles of different sizes for all premium suvs or sedans. >> tell me about fundraising, it has become more difficult for many of the startups in this space. how much runway do you have in terms of fundraising? capitalcumulated the already. we plan to raise another 5 billion. >> another 5 billion within what time frame? >> around 2020. >> 2020? >> yes. >> there are around 500 electric vehicle startups in china. it looks like a

i want to bring up this chart on the bloomberg terminal. a number of 1% swings during the month of august. how are you dealing with all of this volatility? is it wise to think about trying to buy the dips? a great opportunity to take advantage of some of these dips. and it has proven itself over the last 20 months. we have been actively buying these dips and plan to continue that. the vix has been wild, but i think not taking advantage of some tweets, sending the markets down a couple of percentage points is bad strategy. the noiseou tune out over the trade war, the tweets over what the fed is doing, and just focus on earnings, the earnings season last quarter was not tremendous. and when you bring all that noise back into the picture, you can't be optimistic about the next quarter? earnings will probably come in a little better than expected. of course, analysts brought earnings expectations down quite a bit. i am very optimistic on the u.s. economy, in light of the recent inversion on this yield curve. we don't know if a recession is goin

appreciate your time to read you can get the latest stock story on your bloomberg terminal. can get the first word news on the bloomberg mobile app. coming up, the market open. futures pointing higher. a little bit of a bounce after the drops yesterday. u.s. futures pointing up. could we get a bid for risk assets today after the yield curve inversion on the 30 year bond dropping to an all-time low yesterday? this is bloomberg. ♪ matt: a minute away from the open of cash equities trading. let's look at the markets with annmarie hordern. tomarie: msci asia-pacific the downside, we do have asian indices turning around. we're seeing money move into the yen, and safe haven assets as well as gold. still trading above $1500 and out. futures after yesterday, the stoxx 600 closed down more than 1.5. ftse futures are up. 0.5%.tures up we are seeing a bit of risk on. the market is just opening now in london this thursday morning. let's look at how the equity markets are placing themselves. a of direction will come this afternoon when we get data out. ibex opening higher, 0.3%. also to t

bloomberg subscribers can go to dayb on their terminals and it's also available on mobile in theloomberg anywhere app. you can customize your settings so you only get the news on industries and assets you care about. this is bloomberg. ♪ paul: this is "daybreak asia." i am paul allen in sydney. i am shery ahn in new york. china may be waiting a social media campaign against the pro-democracy protests in hong kong. twitter found and deleted nearly 1000 accounts. facebook says it also found evidence of similar operations. let's cross to sarah frier, who covers twitter and facebook. let me ask, how would this chinese campaign compared to russia's efforts back in 2016? a lot ofere are similarities. in both campaigns, what you see is a government creating accounts that masquerade as real all in sort of insert themselves into culture, and today today day-to-day news and insert political messages. it is not obvious that accounts are political at first. we saw messages from these accounts trying to discredit the ow discord ino s hong kong, to make it seem like they were more violent than

this chartt to raise on the bloomberg terminal. a cut -- accounting for an ever-growing chunk of hong kong trading. you agree? will they get burned? >> the exposure to hong kong is retail. also property. maybe some transportation such as airlines. the fact that there's lower tourist arrivals. these local earnings will be negatively affected. it will get worse before it will get better. earnings outside of hong kong will not be affected to the same extent. shery: a lot of the discontent in hong kong has been centered on property prices. people not being able to afford housing. we'll could we see in the property sector when it comes to businesses and of -- and developers there? hashe hong kong government already put property as their top priority in the past. i do not think there has been enough action to make a difference to the market. i think that post protests, the hong kong government will focus on boosting land supply and subsidized housing in order to make housing more affordable to the average people. kong generally feel frus

this chart on the bloomberg terminal. expectation for a september rate cut is a near certainty, but what is going to happen if the fed disappoints? we had eric rosenkranz today saying, well, just because other countries are weak and we are strong, does not mean we should cut. anna: good point. what is important now as we see the tone from the fed and that is something friday's speech from jerome powell will be important for us. we saw in july a cut but the market did not take the tone of the message behind it well. it modeled hawkish and that is the reaction. on friday, but i think investors are looking for is are we going to get additional uncertainty injected into the market or reduced uncertainty? more of an idea of a certain rate cut path or a little bit of up in the air? paul: in terms of uncertainties, one of the granddaddy's of them all right now is the trade war. that seems to be spinning on a dime depending on what is tweeted on any particular day but you are optimistic there will be a resolution by the end of 20

breaking news on the bloomberg terminal right now. fromve correct accounts south korea for the month of june, and it is coming. 6.376 billion dollars for the month of june. an improvement on the may figure of $4.9 billion. you can see the korean won. it hit 1200 against the greenback yesterday. more consternation in korea. the hardest hit countries from this ever escalating trade war. you have to remember, these june figures do not count in the current spat with japan or the u.s.-china trade war. that in mind, the figure of $6.3 billion looks good. we will await the july figures. shery: investors have a lot on their plate today to digest. ground, one losing point 5% after u.s. equities lost more than $700 billion of market value just on this monday as we continue to see the trade war escalation between the u.s. and china. we saw the s&p 500 lose 3%. tech and financial leading the declines. it was a brutal day with the nasdaq losing more than 3%. 700dow jones more than points. after hours, china being designated a currency manipulator.

you can watch his work and the rest of the team at mliv on the bloomberg terminal. next, bhp plays out on solid results. is this the best it will get for going toiners? we are hear from our exclusive interview with ceo andrew mackenzie. bloomberg radio is live on your mobile device or on dab digital in the london area. tune in anywhere in the world. this is bloomberg. ♪ matt: welcome back to "bloomberg markets the european open." not a lot of movement. we had a positive day in asia. the gains are petering out for the end of the session. we still see ftse futures gaining. cap and dax futures will change. let's talk more about the world's biggest miner. cooling growth in china and trade tensions are key risk to raw materials prices over the next year. dhp despite that boosted its final dividend payout to a record high. andrew mackenzie told bloomberg the min can stille profit in any downturn. >> we are ready for whatever the world might throw at us. we can profit from a downturn. drop a lot more cash in an upturn. >> is the dividend sustainable? >> we don't have a prog

stock stories from our equities team by typing first to go on the bloom -- first go on the bloomberg terminal it is the market open. futures this morning are pointing down. we are seeing a renewed flight to safe haven assets, for example, the u.s. 10 year right 1.55%.ding futures on the continent down more than futures in london, even though the pound is currently coming back down to 121 level, folks. watch it closely. this is bloomberg. ♪ from the couldn't be prouders to the wait did we just win-ners. everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you pre-order a new samsung note. click, call or visit a store today. ♪ matt: we are now one minute away from the opening of cash equities trading across the continent and in london. let's take a look at the markets. >> good morning. we have som

you can get all the latest stock stories from our equity steam by typing first go on your bloomberg terminalr via the mobile app as well. i want to quickly tell you that it looks like we are going to ceo. new they say they support the at abb.ent the cofounder. a large forward writing and email and of course a big stakeholder there. you could see that. they are on the board according to our producers. you could see that happen today. coming up it's a market open. futures pointing higher in europe and the u.s.. the open is up next. this is bloomberg. ♪ matt: we are a minute away from the open of cash equities trade. annmarie hordern is standing by in london. annmarie: good monday morning. let's kick it off, up 7/10 of a percent. light volume due to some closures for holidays in asia. japanese yen, 105 handle on that, extending gains since last week as president donald trump says we could see talks stalled. the pound is trading around 1.20. the times is pointing the number of mp's could ask for an extension. an oil is trading under $59 a barrel. bernstein says the group needs to cut one million

. ♪ matt: let's get your top headlines off the bloomberg terminal.default in argentina hit 20 -- 75% as the nation's capital plunging value. embattled president warns against a return to the previous regime. the greatest problem we have today is the alternative to the government doesn't have international credibility. i've been saying this for three and a half years. international investors don't trust them. matt: protests, fallout. european stocks were cheered -- retreat on protests in hong kong in argentina. the chaotic situation in the city is decried. lower for longer come along dated u.s. bonds hold on to massive gains as the two's tens spread hits its narrowest since 2007. are negative rates coming to america? welcome to "bloomberg markets: the european open." i'm matt miller in berlin. we are 30 minutes into the trading day and let's see how things are shaping up in terms of the individual movers on the stoxx 600. almost 500 stocks down, only 100 are gainers and the one gaining with the exception of the oil producers, bp and total, are all def

bloomberg subscribers can go to dayb on their terminals and it's also available on mobile in theloomberg anywhere app. you can also customize your settings so you only get the news on industries and assets you really care about. and follow closely. this and more is bloomberg. ♪ paul: this is "daybreak asia." i am paul allen in sydney. kathleen: the brexit clock ticking ever faster with boris johnson thing you can e.u. teams will meet to try and solve their differences. his move to -- triggered a storm of protests. john mcdonald says he is confident mp's can block a new brexit butdeal admits that time is tight. there is one to be tough. that is exactly why force johnson has exercised this dictatorial power of trying to present parliament from meeting long enough to do it. so what is happening at the moment is the opposition parties have all met jeremy corbyn and brought all of the opposition parties together. they set up a group working to the detail of how we can achieve it next week. we are working with senior conservative mp's. we have seen ex-ministers come out and express the

i think we will be seeing a lot more of the story, is one of the most read stories on the bloomberg terminal, saudi aramco releases half-year results for the first time. we will cover it after the break. the cfo later this morning. you can track all of the charts we have showed with gtd go. we will be back shortly. ♪ >> good morning from berlin. this is daybreak europe and these are today's top stories. donald trump says plans trade talks with china could be called off. this as goldman sachs sza u.s. recession cannot be ruled out. seize the day. italy's deputy prime minister says an exit from the eu has never been his plan. he spoke exclusively with bloomberg. >> i don't think is anyone is scared of democracy. we ask for elections. one should be scared if we were to say i don't want elections. we just want the people to vote. matt: 10th weekend of protests. hong kong takes another violent turn as to gas and rubber bullets are used. releases itsmco half-year results. we will cover the numbers as they break and we will hear from the groups cfo later this morning in an interview you do not want

we had the inflation figures, cpi figures, and a great story on the bloomberg terminal saying the u.kven election that the prime minister cannot actually call. this is bloomberg. ♪ ♪ this is bloomberg "surveillance." let's get the business flash. tesla short-sellers are taking the lead in the war between the bulls and bears. shares plunging 30%, making tesla the most profitable short bet in the u.s. bears have seen almost 2.8 billion of mark to market gains. regulatorse safety banning certain apple laptop models on flights. certain mac oaks have batteries that goes -- macbooks have batteries that goes a fire risk. -- pose a fire risk. astrazeneca says its ovarian cancer drug hit's main goal. that is a finding that could change the way patients are treated. astra saying ovarian tumor growth slowed in patients receiving the drug. that is the bloomberg business flash. francine: this is what we are looking at the markets. stocks are declining as we had disappointing data in germany and china. investors have to weigh up what this weak data from the world's in the economies means de-escalat

some breaking news on the bloomberg terminal.an's current account balance for the month of june a little better than expected, billion yen. we had expected eager decline in imports versus exports. we have of course also second-quarter gdp numbers for japan coming out on friday. not a great deal of reaction, the yen trading hundred six. this is bloomberg. ♪ ."ul: this is "daybreak: asia i'm paul allen in sydney. sophie: i'm sophie kamaruddin in hong kong. samsung, the galaxy note 8 open to challenge apple and huawei. mark gurman has the details from new york. mark: we are here live at the berkeley center in brooklyn where samsung has taken the wraps off two new phones today. these aren't dramatic, revolutionary upgrades over models from years past, but they do now have 5g support in the u.s. on verizon for the bigger model, exclusive to south korea for the smaller model. 10-plus,r model, the is 1100 dollars. i like the bigger display. they showed off a bunch of new features for integrating with their stylus. the big question, are

this is bloomberg. ♪ ♪ romaine: temporary look at what stories are trending. terminal are reading managermidwestern money having acquired more than 400 new york city taxi medallion loans to become a dominant player in industry. has been amended by uber and lyft. someone who started a viral video dancing alongside bruno mars using a form of artificial technology mimicking his moves. he turned the research into a startup called human ai which aims to turn the gimmick into an app and eventually a tool for studios and ad agencies. where the burden of china tariffs will fall far -- fall hardest. the burden will disproportionately fall on america's poorest. lower income consumers tend to spend money on lower income -- on lower price items imported from china. experts say that when tariffs go up, the result is more unemployment and higher inequality. it is all about argentina. their debt is getting hammered again. the cells -- the south american nation offshore notes heading to lowe's after being hit i-8 downgrade and resignation. i want to bring chief emerging markets credit

do that and communicate and build up the capability having government employees can use the bloomberg terminal and use that business strategy and military history or the arabic language. we need a place where these experts can go and be trained and communicate seamlessly and develop themselves and it won't be easy to do this trying to bring data scientist and similar technology into the government there is a lot of competition out there for certain skill sets. the same for economic analysis and the government human resources systems doesn't make it easy to bring new people in throughout these experiences. when you think about it how do we convince someone who makes over a million dollars a year in connecticut or new york city working in finance to move to northern virginia to make the gf 15 salary - - gs 15 salary. so no doubt we can convince people to come just purely out of patriotism and the feeling of with the need to do the mission but we do need to be more flexible figuring out ways. finally and most importantly to renew the stigma of the economic intelligence to help counterterrorism ex

bloomberg subscribers, go to dayb on your terminal. is available in the bloomberg anywhere app. you can customize settings so you only get news on industries and assets you care about. this is bloomberg. ♪ ♪ shery: let's get a quick check of the business flash headlines. japan is stepping up scrutiny on foreign investment in the chip sector, focusing on purchases of shares with voting rights. new rules will be introduced that would force overseas investors in tech companies to undergo government review. results 10% or more on a voting rights basis. india's largest lender said credit growth will slow down. india says it of needs to over fault -- overhaul the practices. the reserve bank of india is trying to avoid a credit crunch by relaxing rules relating to consumers and boost the slowing economy. shery: volatile times call for volatile calls. j.p. morgan hosting a special conference called tuesday to help clients deal with recent markets. they will focus on how to manage the impact of high-frequency trading amid worries on wall street

in fact, i was looking at a bloomberg calendar on the terminal.ould see since early june, the number of days there has been some form of unrest, and in fact, the past 16 days have seen some form of unrest, if it was at the airport or various districts with flash mob techniques. last night police again used tear gas to disperse protesters outside a police station. pretty much everybody, no matter which side of this chasm you fall on with your sentiment, everybody says a resolution needs to be found, but the problem is -- what is this solution? this is what charles lee, the ceo of the hong kong stock exchange, had to say when he was asked about it. .> this is not helpful as a financial center, trust and confidence are the most important. clearly this city, this place has a lot of different issues for us to sort out. way to workind a this out. stephen: while the government of carrie lam keeps saying the economy is getting hurt, we talked to a number of young protesters out of the airport the last few days and they say, "we do have a stake in society,

live onalso watch it your bloomberg terminal. are live pictures you are seeing from the economics committee. we're about half an hour away from the open markets in tokyo and sydney. let's get over to selina wang on what to watch. >> i have been watching the japanese yen strengthening with that rush against the u.s. dollar. trade tensions are resurfacing, dampening the positive sentiment that we saw from strong wall street sessions. the white house is holding off that decision for u.s. companies to restart business with huawei. i am watching for second-quarter gdp. they are expecting expansion to slow to about 5%. forecasting signs of strength in the private and public sector spending. we are expecting fiscal stimulus and last-minute purchases from the japanese government ahead of a hike to support the third-quarter growth. externalinge on how demand plays out. paul: thank you very much. the white house is delaying a decision for u.s. companies to .esume business with huawei our china correspondent is watching all of this. a littl

us.k you for joining i want to start right away with this chart on the bloomberg terminal. profitability of chinese banks has been declining. in this environment of a trade were, what are your expectations this week? we ran a hypothetical scenario whereby the growth in china would slowdown quite significantly to around about 3.6%. that was in 2020. based on those expectations -- -- the region. especially those who are most exposed to china, be that directly or indirectly. bearishat is a fairly model you ran, seeing growth crunch down to 3.6%, so what does it indicate in terms of how well chinese banks and others are prepared to handle any stress? only need to look back at the pd is he's financial stability report stress test you did last year. based on a scenario where economic growth was modeled to fall to a level that is even higher than what the case was. chinese banks, including the state banks, of course, saw that they started to fall below the minimum requirements in terms of capital for banks in china. , across the that system, you have a lot more banks that arguably

to that point, i want to bring up this chart on the bloomberg terminal.its target by 10%. where do you see stocks in china next sixover the months he apple >> we were quite positive for chinese equities going into this year. we did call out china back in october which was, i have to admit, a little bit premature, but it has paid so far in the course of this year, but then cominge trade tension back in early may, we did close this course and are still on the sideline now to reenter the market. i would not go so far to cut -- to cut chinese equity markets by 10%, but given the year to date kind of market movement and nice performance in thinke equities, we still investors can look to take profits here, but we don't think it will lose all its year to date kind of gains. hence, we would just expect a minor pullback in the range of maybe 5% to maximum 10% for the .hort-term that is may be an area where we would be more positive on chinese equities again. paul: you said that has been your position for some time to take cash and recalibrate. what is the plan rig

. ♪ ♪ >> we are looking at the function on the bloomberg terminal where they are on some elevated volumes. it comes as investors plan to sell more assets to pay down debt. that is illustrated here by the more positive new sentiment. >> there are about 30,000 functions on the bloomberg and we always enjoy showing you are favorites. they will become your favorites. here's another function you will find useful, it will take you to our quick takes, where you can find important context in fast insight into timely topics. here's a quick take from this week. ♪ >> decades in the making, quantum computing is the technology that could make today's fastest supercomputer look like an abacus. teams around the world are racing to build machines with different approaches. while the technology is moving quickly toward reality, it is too soon to tell when it will get there. this is your bloomberg quick take on quantum computing. the computer you are using now processes information in bits that can represent two possible states -- one or zero. quantum computers use quantum bits which can represent one or z

bloomberg subscribers go to dayb on the terminal.ou can customize your settings so you only get news on the industries and assets you care about. kathleen: i'm kathleen hays in new york. paul: i'm paul allen in sydney. you watching "daybreak australia." uber faces yet another headache two years after dara khosrowshahi took the wheel. a former engineer has been charged in a case involving tech from waymo, adding a criminal element to the drama. need different kinds of management ford different times in the development of a company. theirmanagement has faults. every management team at the time has their false, but the fact is they built a great company, and they have handed it to me, and of got to take that great company and make it even greater. i think i'm up to the job. while they made the mistakes, the fact is that they built a had weaknessest and has incredible strengths. it is my job to take it to the next level. ki was anthony levandows just charged with stealing self driving technology from google, stealing trade tickets. what

bloomberg subscribers can get it on their terminals. it is available on mobile in that the app. u can customize your settings so you get news on the assets you care about. this is bloomberg. ♪ shery: hong kong police have battled protesters in several districts across the city in the weekend ofght demonstrations. they fired tear gas and rubber billets -- and rubber bullets to clear streets. our chief north asia correspondent stephen engle is outside police headquarters, and any sign this could at -- this could end anytime soon? stephen: no, absolutely not. there were more protests, more tear gas fired, rubber bullets fired, petrol bombs tossed at police officers. one reportedly was injured. yet, there is no progress to ending this now 10 week standoff between protesters and police. i have been saying this almost every monday morning when i come to report the weekend violence. it is another tense calm as we begin the morning commute here on this monday morning. there is rain falling, so the protesters have dispersed, but that has been their tactic all along as it has evolved. they

i want to bring up the chat on the bloomberg terminal.s globally is heading in one direction. when you see good value, you are comparing it against fairly dirty laundry. >> absolutely. i think as far as the u.s. is concerned, to what you were talking about earlier, a fed seems to be -- the fed seems to be cautious. the general tendency of central banks these days, i would say, is to try and read the fine line between not disappointing markets because of the havoc that would wreak, not only through bond markets but risk assets more broadly am a but also not to go into the competing dovish spiral. more recently, you have seen europe signaling they want to do a larger than market expected package in terms of qe and further easing. immediately, the market prices this in. for the central bank to go above the newnd what is now expectation of markets becomes even harder. that continues to be the find line the fed treads. there is plenty of policy space in the u.s. and as the data unfolds, they will judge how and when to use the policy space. tol

the most timely piece of that is the work screen on the bloomberg terminal where you can look at whated funds futures telling us how much and when the fed would cut. the vix curve is a good example of the same thing. you can look out and see what the market is implying from moods. there is a distortion to the vix curve that has to do with very substantial amount of volatility that wants to be sold. the last time i looked, the forward vix curve was down to 15, 14. i think people are all playing for memorization long-term and try to whether it out in the short term. calling the inflection point is the real game. vonnie: thank you for joining us today. that is matt rowe of headboards volatility. president says he wants to see evidence of a slowdown to justify a rate cap. he also explain why he dissented at the july meeting. fact thattied to the economic conditions are still pretty good. 3.7% unemployment is still a low rate. inflation is a little bit low. if you look at the core measure, it is 1.6%. if you take out some of the outliers, then it is close to 2%. my own view was that we hav

it means having government employees who can understand how to use a bloomberg terminal, who has studied economic history and business strategy as much as current intelligence analyst have studied military history or arabic language. we need a place where these experts can be trained, and can communicate seamlessly across agency boundaries and develop themselves into world-class economic analysis capabilities. it will not be easy to do this. as i have personally seen and trying to bring data scientists and technologists into the government, there's a lot of competition for certain skill sets. and i would say to the same for economic analysis and financial skills. the human resources system does not make it easy to bring in new people who had these experiences. when you think about it, how will we convince someone who is making over a $1 million a year in connecticut or new york city working and finance to move to northern virginia and take a government salary, especially if it means they have to divest from significant investment? i have no doubt we will be able to convince people to com

bloomberg for the clients, track the story on live go on your bloomberg terminal.here our expert editors have been chiming in, pouring through the statements and we will be reacting to every important phrase that comes out of it. yvonne: it wasn't unanimous. two members calling for a rate cut so they mean that be done when it comes to easing -- may not be done when it comes to easing. saw it asmists efficient to talk about the short-term risk share and play into some of the structural issues with the economy. we have been watching the kospi, bid onng won catching a the trade optimism between the u.s. and china. up 1.75%. we saw samsung turnaround helping the benchmark, and no on strengthening .4%. stocks, oners, bank is surging after we heard morgan stanley put it as one of its top picks when it comes to the energy majors. watching samsung electronics up 1.75%. this is bloomberg. ♪ su: it is 10:29 a.m. in hong kong and shanghai and 10:29 p.m. in new york. there seems to be no agreement on territorial disputes in the south china sea. this despite top-level talks in

turn to your bloomberg terminal if you want to get more on this and get more about this from bloombergditors on that. ♪ in mumbai at the moment, temperature of 28 celsius. a bit of a cloudy day. looking at equity markets just about to get going. barelypercent fall after settled gains this week. is the open looking like here? how are martin -- markets reacting to the government enacting those rules in several industry groups? >> that's right. a lot of announcement actually coming by in the last four to five sessions to boost or stimulate the economy, which has been witnessing a slowdown. that is what we saw in the last gdp numbers. gains yesterday are the opening rates now. cutting about 40 points this morning. also trading with 30 points. more, thembled monthly contract to be expiring today. we are expecting a volatile session as well. for the broader markets, that has opened at a weak note. the index is reading with drops about 30 points. selling coming about yesterday. once again, the focus is shifting to the currency market. rupeedian ruby -- indian has crossed the handle of 72 to t

if you have a bloomberg terminal , you can interact with us directly. on your terminal. from new york, this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. i'm david westin. sunday, the u.s. takes another step in the ramping up of tariffs against china as the on. imposes higher tariffs more goods, and china often responds. to put the latest move into context is kailey leinz. >> the u.s. is imposing a 15% on 110 billion dollars of chinese products, while china is putting a 5% tariff on oil, soybean, and farm products. the president pushing back on tariffs on toys and electronics to december. but 70% of home textiles and half of the footwear products on that list are coming on sunday, so that affects all of the goods that you see here, anywhere from 23% to 53% of goods coming from china. prices could be higher or the u.s. consumer going into the holiday season. on china's end, that means exports go to slow. shoes and clothing exports will slow into the u.s. 53% in the back half of the year. we are already seeing shipments from asia to north ameri

if you have a bloomberg terminal, check out tv . hicsour charts and to interact with us directly. you can also ask us a question. life from new york, this is bloomberg. ♪ david: this is "balance of power." i'm david westin. for bloomberg first word news, we go to mark crumpton. the european union has rejected boris johnson's attempt to renegotiate the brexit deal. the so-called irish backstop is a vital part of the agreement. the british prime minister wanted scrapped. the u.k. is on course to leave the eu october 31 without the safety net of a deal. most muslim or injure refugees and a don't want to return to myanmar. the united nations refugee agency says very few have responded to plans for their repatriation. all of those who did say they are not going back. than 700,000 flat a harsh security crackdown in myanmar two years ago and are staying in refugee camps in bangladesh. a new poll has joe biden regaining a double-digit lead over his rivals for the democratic residential nomination. the former vice president has 29% of the dem

matt: you can get stock stories from our equities team on your bloomberg terminal. can also get first word news using the bloomberg market app. huge are pointing a little higher. mixed trade is the best way to describe this. ftse futures are gaining even after the gains we saw yesterday and around the world. you could see a slightly risk on session. this is bloomberg. ♪ matt: we are a minute away from the opening of cash equities trading across europe and the u.k. let's go quarter for a look at the market. close up nearly zero point 5% this morning, a tug-of-war in the asian session. a reprieve from the trade war. but aboveit softer $60 a barrel. donald trump pushing tariffs to december is good news for oil. the yen a little higher, dollar-yen had its biggest move since january 2017, and the 10 -6.2%n the german bund we could see dax futures softer, a contraction of 0.1%. ftse futures are higher. be a little bit of a risk on day given the trade news. economic data around the world could impact markets. we have the european market opening, the ftse 100 to the upside m

i want to jump into the bloomberg terminal and look at interest rates projections.ability of the september -- it was 60 something yesterday. has president trump pretty much locked in that easing he was looking for? >> he may well have. jerome powell mentioned over a dozen times, maybe t doesn't -- maybe two doesn't -- maybe two en times the trade war as a factor in rate cuts. the administration thinks the way to get the fed to cut rates further is to escalate the trade war further, but i think that the fed would be on dangerous ground even had this not happened not cutting interest rates. markets are clamoring for this. the u.s. economy remains highly indebted, and i think even at two and 1/8% where they are now, at a higher rate than they can bear. paul: is the pound looking a little bit oversold? >> i think the pound is the ultimate sell on the rumor by on the fact. it is certainly possible to imagine the pound may be going to parity against the euro or retesting its 1985 low of 1.05 versus the dollar, but i think ultimately in the long-term, there is no such thin

kevin: those headlines crossing the bloomberg terminal, president trump saying he predicts there will be some type of deal made with china. no timetable on that. he also says "i am the chosen one," as it relates to negotiating a new deal with china. all of this as the president is set to attend the g7 later this week to meet with global counterparts. the issue of china will be looming over the g7 nations as the presidentagainst the chinest also against many european allies. also potentially looming over his reelection. how worried is theyou hear presg the economy is fine, talks about tax cuts. how worried is he about his chances in 2020? kevin: they are talking about increasingly. when you look at the president stance against the fed chair, how he has floated additional tax cuts, which we know the political calendar does not have the appetite for, those are measures to politicize this to get democrats on the defensive. david: ballots get a check on markets with abigail doolittle. abigial: the bulls are back out on this wednesday after yesterday's pullback which followed a three-day ra

as regular viewers will know, you can find these charts on your bloomberg terminal, gtv .f, romaine bostick. romaine: let's start here. talking about the banks in the financials where things are rebounding, we are not seeing the rebound in financials. i want to show you a chart that would give some idea why. we are talking about what is going on with trade and the yield curve and how that all in her place with expectations. when you look at this chart, you can see the white line the yield curve inversion. you can talk about the 10 year yield being below that three-month yield for about three months. we are talking about an inversion of 30 basis points. the inversion remains persistent, it raises the question of what the fed can do. the general idea is that the fed will try to on invert that curve. as they do that, that means monetary policy easing and that puts pressure on bank margins. that brings us to the aligned. net interest margin, the differential between what banks lend and the money they make to offer lending versus what they have to pay out on deposits. we have h

live from new york, if you have a bloomberg terminal you can o> on yourtv terminal. can also aspects -- you can also ask us a question if you like. live from new york, this is bloomberg. ♪ >> absolutely. unfortunately, you are inaccurate and what you are describing. >> what we need our politicians that have a gats on this issue. >> thank you, mr. secretary. >> my gut is enough to say this plan does not make sense. >> you want to be president of the united states, you need to be able to answer the tough questions. if you are debating donald trump he will not let you off the hook. did you go to the president and say this is a mistake? which one? >> i was vice president, i am not the president. david: that is some of what we heard last night and the democratic debate with much of the time given to a contest between big ideas and taking it one step at a time. we welcome from washington someone who has had to buy -- islands the best. -- balance the best. senator evan bayh. thank you for being with us. one of the things we saw was everyone is focused on joe biden, the forme