fed up an insider's take on why the federal reserve is bad for america as well as they call mr bloomberg view and in new york we cross to marshall are actually is a research associate for the levy institute at our college a contributor to independent media institute as well as a member of america compass or a newly established think tank for him to restore an economic consensus that into sizes the importance of family community and industry to the nation's liberty and prosperity crossed up rules in effect that means you can jump in if you don't want and i also appreciate ok let me go to our national 1st in new york last week we came out with some new jobs numbers and it was quite surprising for a lot of people that was a row of jobs growth probably over 2000000 though there seems to be some all of the issues now which used kind of interesting in itself. which gives people a reason to believe that there is some kind of recovery and i would really would like in this program to be politicized that i don't want to talk about who whose advantage it is ok because that's it's turned into a political

fed up an insider's take on why the federal reserve is bad for america as well as they call mr bloomberg view and in new york we cross to marshall are actually is a research associate for the levy institute at our college a contributor to independent media institute as well as a member of america compass or a newly established think tank form to restore an economic consensus that into sizes the importance of family community and industry to the nation's liberty and prosperity crossed up rules in effect that means you can jump in if you don't want and i always appreciate ok let me go to our national 1st in new york last week we came out with some new jobs numbers and it was quite surprising for a lot of people that was a row of jobs growth probably over 2000000 though there seems to be some all of the issues now which was interesting in itself. which gives people reason to believe that there is some kind of recovery and i would really would like in this program to be politicized that i don't want to talk about who whose advantage it is ok because that's it's turned into a political football an

. ♪ >> the following is a paid program and do not reflect the views of bloomberg lp, affiliates or employeeshe following is a paid presentation brought to you by rare collectibles tv. >> the $10 indianhead gold eagle containing nearly half of announce of pure gold is one of only two coins that the designer was responsible for designing. began in theater roosevelt's famous letter to secretary treasury shot

a justt those ski -- published bloomberg opinion reaffirms peter's view. , "i ame exactly maintainingposure to fixed income and risky assets. negative real rates are a rare policy opportunity." what is your level of opportunity into the new year? peter: i think you are actually supposed to be going the other way and starting to sell some rates. i think the fed is going to aggressively push for inflation. i think there are going to be signs of them being successful. i think we are finally going to see the 10 year and 30 year bonds rise a little bit in yield. but then i think financials are a great place to be. tom: i get the financial angle, but dovetail that into your outlandish equity call of spx 4000, dow 42,000. you sound like jeremy siegel. peter: let's not go crazy. i do think we can start and limiting policies to bring jobs to america, where we start rebuilding our manufacturing base. we are never going to go back to a full manufacturing economy, but i would love to see some of the jobs we lost return not a service jobs again, but as many factoring jobs. i think both parties are

view. this is bloomberg. ♪ shery: stocks ended last week down with tech shares bearing most of the selling.ning us heading into the week is bokeh capital partners founder kim forrest. we have seen tech stocks on a tear during the pandemic. these tensions between china and the u.s., what did they mean for investors? kim: i think it is going to mean there is going to be volatility, which i personally embrace. secondly, i think that you really have to think long and hard about what your timeline is and what your narrative is for the stocks you are picking. if you think these two things can come to fruition and the stocks you are picking are going to be higher in a couple of years or not. haidi: when you say great volatility, that means you are adding to positions you are confident right now? kim: exactly. i always see a market downturn as an opportunity. at a minimum, it is an opportunity to see what happens when your stocks hit a bad patch of news and how low they go and who is holding them. that is part of our secret sauce is that we really like to watch how individual stocks as well as mark

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viewed as hostile. has givennt trump microsoft until the middle of september to work out a deal with tictoc. that is your bloomberg business flash. stocksouth africa's main

bloomberg. ♪ >> it is still our view that we will contract for the year at about 4.5% to 5%. a sharp decline in the second quarter, we would have very healthy rebound in the third and fourth quarter. i think that rebound is more muted in the united states now, has caused me to think the unemployment rate -- if we don't do a better job managing the virus -- is likely to be above 9%, between 9% and 10%. we have moved up our unappointed forecast. i think we have got to rebound. -- unemployment forecast. it is much more muted than it was. if we don't do a better job managing the virus, we will have lower growth and a higher unemployment rate. i've been spending a lot of time talking about the virus more than anything else because it is so critical to the recovery. the $600 extra unemployment bonus, infection moratorium are -- eviction moratorium are gone. have you monitored that in the economy? should we expect a second wave of defaults affecting the credit market? robert: we have looked at it. one thing that is a unusual incomesis downturn is have remained solid, and a big reaso

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view. vernon jones, georgia state presented it. still ahead, part of my interview with former fda administrator linda mcmahon on the state of the economy. ons is "balance of power" bloomberg television and radio. ♪

robert kaplan spoke to bloomberg earlier today and gave us his view on the future of inflation.t: it is possible it will take a while to get to 2%. technology enabled disruption in particular are limiting the pricing power of his this is, and inflation has been muted for close to 10 years. joining us for more insight is professor of management and global economics from m.i.t., kristin forbes. let's start with mr. kaplan and what he said about the fact that the fed has given themselves a lot of wiggle room in terms of how long they can average inflation. it seems it could take time. keytin: it could, but a point that came through the jackson hole conference today and yesterday was we just don't know. there are scenarios where if we find a vaccine and it is widely distributed, the economy could come back quickly. there are also scenarios that it could take a substantial amount of time, especially if people lose their jobs, and the way businesses operate could change. so this is an incentive to wait. if inflation picks up, they do not need to act prematurely. banksionally, central

views. this is bloomberg. ♪ ini think the continued rise payrolls and bear in mind, it is a hotspot. >> thisvery good report, very promising. strong recovery continues. we are aware we have a ways to go. >> if -- the labor market continues to heal. the last two months, job creation was stronger. >> unless we get the virus under control, i would expect us to remain in this lower breadth of jobs gains. >> it is going to get increasingly more difficult. it is about 42% of jobs lost have been recovered so far. >> the big issue has been the depressed level of spending in the economy. >> the level we are at, slightly above 10%, is where we were in the peak of the global financial crisis. >> the problem with this report is that it is not going to resolve much. >> monetary policy only works to a certain end and then you cannot go anymore. >> these leaders have to come together and understand about what is ahead, not what is behind. ♪ what happens when a wireless carrier puts its customers in charge? well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take

let's do a breakdown in give you an idea of what has been going on on the bloomberg function, grr from the sector point of viewsingle sector is in positive secretary. the car sector has outperformed. the bottom end of the market is dominated by the travel sector. let's get the details about what has been happening within that. sector with scarlet fu scarlet: good afternoon. beis johnson warned he would absolutely ruthless in imposing new rules to keep covid cases from rising at home in the u.k. his government added france, the netherlands, and malta to the list of quarantined countries. effective saturday at 4 a.m. local time, everyone traveling from those countries to the u.k. will have to self isolate for 14 days once they arrive. this comes as the number of covid-19 cases rises in france, across europe and in parts of the u.k. as well. the usual suspects are losing ground. airlines including british airways or ryan air are saying that customers can change their travel base but they are not offering refunds for the changes. in travel group will probably be called upon to help people scramble for last-minute

views friday. lots more to come. this is bloombergcials fed criticize that washington response to the coronavirus, saying failure to curb the pandemic is undermining the u.s. economy. unflattering comparisons to the experience of other regions, telling us what policymakers are doing to tackle the issue. >> there will be an appropriate time to have more guidance. at this stage of recession and the pandemic, that guidance is probably only mildly helpful. and the reason is that the long-term treasury rate is quite low, interest rates are quite low, and in that environment, i think people are already assuming it is going to be quite some time for interest rates rise again. so while it might be marginally helpful, i would say our lending facilities and some facilities run by the new york fed, are probably providing more support because they are getting at the cost of funds to individuals and businesses that are more important than what the outcome to the economy would be. >> i want to talk about lending programs, chairman powell notasizes

views on that. this is bloomberg. ♪ haidi: debt issuers in asia are boosting cash profits with record amounts of bondsophie kamaruddin has a closer look. what are we seeing in terms of investors addressing risks to credit quality amid the debt binge? sophie: given the continued warnings that we could see default rates pick up to the double digits, bond buyers want to avoid the value trap that is being presented by the recovery scene, and that could mask the rising risk of fallen angels. yield premiums have fallen for a 14th straight week and that story is also playing out in the junk corner with risk premiums narrowing further while distressed debt levels shrink amid the rally in credit given support from policymakers are twitching out the terminal, that has generated returns from even the least creditworthy borrowers. ferreting out -- the weak links will be crucial. signs of stress and merge with defaults and missed payments. india, for example, that spark to jump in reading related bonds as balance sheet health deteriorates. pulling up the board over in china, the potential for defaults is rising a

bloomberg. ♪ lisa: lisa in new york, francine in london. -- the view from the boston fed president who told michaelhat extra stimulus is required. >> i think there will be an appropriate time to have more guidance. i think at this stage of recession and the pandemic, that's poor guidance is probably only mildly helpful. interest rates are quite low, and in that environment, i think people are already assuming it is going to be some time before interest rates rise again. while it might be marginally helpful, i would actually say that our lending facilities and some of the facilities being run by the new york fed are probably providing more support as they are getting at the cost of funds , individuals and businesses that are more important. >> i want to talk about lending programs. chairman powell emphasizes the fed can lend, not spend. is that the wrong prescription for the economy right now? lending programs have not seen a lot of take up. >> the announcement of our willingness to buy corporate securities quickly pushed those interest rates down, and as a result, we didn't need to buy very much be

bloomberg markets. catch that conversation at 1:30 p.m. in sydney. coming up, minutes from the rba's latest meeting are due later with the central bank's views of yieldtrol in the spotlight. we will ask what is next. this is bloomberg. ♪ haidi: bank of a straley intends to use curves as the central bank releases its minutes of the august meeting later today. kathleen hays is here with what she is expecting. what is the bond buying program and renewed focused? kathleen: it's interesting because, back in march when phil low, head of the reserve bank of australia, really pulled out all the guns, but in the key rate to 0.25%. they are saying how about the yield curve control not targeting the bond yields? and theny bought bond they took a three month break. they started buying them again, the reserve bank of australia, right after their last meeting on august 4. people are wondering what's going on. let's look at the chart to give you a sense of where they are. you can see the turquoise line, that is down to 0.25%. bondhaven't anchored the yield. you can see how well they have done that. the come up a bit lately, australia government five year bond, but

view. alongside lisa abramowicz, i'm jonathan ferro. this is "bloomberg surveillance. " ♪ you doing okay?his moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. >> the market is totally divided from the real economy. >> yes we are printing money in the u.s., but we haven't really seen that velocity of money into the system yet. >> every minute that goes by is compounding the losses. >> when you look at it, there's only so far that the market itself can go without this stimulus. >> the only thing boaters really care about right now is the coronavirus and the economy. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: for our audie

view of the world? we will get into that next. this is bloomberg. ♪ yousef: economics, finance, politics.s is "surveillance." let's get you up to speed with the bloomberg business with leigh-ann gerrans. leigh-ann: another roadblock to a potential tiktok deal. sources tell us that due to a new role in china, they will need government approval for the sale of tiktok and its technologies in order to analyze data and make personal recommendations to an export control list. we are told the rule is aimed at delaying the sale. now a deal to create a world leader in wastewater services. a company is offering 2.9 billion euros into suez and un-attempt to overtake the company. suez says the board will meet to discuss the takeover. if accepted, veolia says it will make an offer for the rest of the company. credit suisse is accelerating its business in china. sources tell us credit suisse wants asia to make up one quarter of its overall revenue, up from 17.5% now. that is your bloomberg business flash. yousef? yousef: thank you very much. we have more breaking news hitting the bloomberg, this time f

into turkish the weekend. , was aup with invesco more complete macro view, brian levitt will join us. it is a simulcast on bloombergbloomberg television. this is "bloomberg surveillance ." ♪ >> you are seeing a lot of divergence within the market in terms of valuation. >> there is a disconnect between what is happening in public equity markets and what is happening on the ground. >> the worse the data looks, hopefully the more impetus for fiscal stimulus. , we got got less supply demand being stimulated, and that should lead to higher prices. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. it is a simulcast on bloomberg radio, bloomberg

the opinions and views expressed do not reflect those of bloomberg affiliate -- bloomberg lp, its affiliatesollowing is a pit presentation brought to you by rare collectibles tv. eagle0 indianhead gold contained nearly half an inc -- ounce of pure gold. the inception of this coin began with president theater roosevelt's letter to secretary of the treasury shaw in 1904.

the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employeesam is a -- do you suffer from pain. joint pain from arthritis? in your arms or legs? toit affecting your ability work, to play, and to get a good night's sleep?

wes energy secretary has told bloomberg how prepared at the government and indus we are for hurricane laura. he shared his viewsrole in blackouts jewish california. >> we are very prepared for the hurricane. seemingly moving into the easton the's louisiana area area big refineries down there role andr in his of our oil asset infrastructure are down there. we have a specialized department that is direct did by an assist in secretary responsible or our 13 are already evaluating this. working with the indus. we will the end as well prepared for this dorm. in addition to that, the president has direct to make available those teaching deserve in in is like this. that is what it is therefore. we are doing all week and to ensure we are a bubble of doing that. we feel overall we are very paired. we will have to watch and wait and beware the arm and. >> let's move to california. where there have in brownouts. because it has an hot. what has been going on? >> absolutely there is no. austin about it. california has a long history of getting energy policies wrong there the blackout, brownout from 20 -- room 2001. there was

interview ambassador craft we have a columnist at bloomberg opinion covering national security in foreign policy. ambassador craft, we look forward to hearing your views on the trump administration's engagement with the united nations and other international institutions, the critical upcoming vote, possibly extending the iran arms embargo and all your great efforts to restore aid to syria in spite of chinese and russian opposition, over to you, thank you. >> sorry about that. thank you for doing this. i thought i would start with a question having to deal with the 30,000 foot view, the 70 fifth anniversary of the united nations, an organization that started with a lot of ambition, in part to prevent interstate conflicts but also to promote basic democratic values. when i interview your predecessor at the end of 2018, she said the verdict was out whether the united nations in the us still served us interests. i wanted to get your view on this question now that you have been in the job. what do you think, has the un lived up to its founding principles and do you think the organization and us participation in the organization serves american interests?

bloomberg. david? david: u.s. payrolls numbers are always important, but they are also always a bit out of date by the time we get them. for a viewf where we are right now in real-time, we welcome martin mucci, ceo of paychex, the second-largest payroll processing company in the country. welcome back to bloomberg. on the front lines, you are doing it day. where is the country in terms of jobs? martin: you have been covering it. i think this was a pretty good news thing today. it was better-than-expected, adding almost 1.8 million. we still have a hole today couto. when you think about small and midsized businesses -- we still have a whole to dig out of. what is the next paycheck protection program going to be like, they need more flexibility for how they use the funds and how they pay back the funds and they need certainty they will get those. they are struggling with that. when you look across the country, what we have seen is the south and the west are down, as you would expect with more closures, but the south is still the strongest, driven by construction. in thetrong, both commercial and residential side. new single-family h

the opinions and views expressed do not express those of bloomberg lp, its affiliates, or its employeesnt for the worx hydroshot, featuring paul. the worx hydroshot, the world's first portable power cleaner that lets you clean anytime, anywhere, fueled by a battery, it is self-contained and pressurizes any water source. just grab and go to clean anywhere and everywhere, leaving dirt and grime where it belongs. you can even use your normal

the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employeesght to you by rare collectibles tv. ♪ >> our country was founded on life, liberty, and the pursuit of happiness. representing this idealism is our american eagle. the bald eagle was chosen in 1782 to represent the united states because of its long life, majestic looks, and great strength. the eagle has since become part of our country's national emblem.

coming up with a view on the fixed income arctic, james karen, morgan stanley. look at that. this is bloombergis morning, the surge last weekend continues. the ftse up 22% off the bottom, the american s&p 500 up 51% off the bottom. the difference, american digital dominance. there are sure signs of inflation. lumbar a moonshot. , a moonshot. iron ore, too. and virtual trump -- he will be different than virtual button. lose the zoom, bring in the fam. eric truck tonight, than the first lady. then mrs. kushner introducing her father on thursday. good morning, everyone. this is "bloomberg surveillance ." tom keene in new york, anna edwards in for francine lacqua in london as well. tell us about the prime minister's august. what is pride minister johnson doing here? is he virtual or is he out there? anna:

alicia levine with us, bny mellon, a more cautious view then many we have been speaking with. claims in 35 minutes. this is bloomberge are looking for continued improvement in the economy, but the pace will probably slow down at the we had this quick rebound. >> we are looking at the possibility of recession in q4 and q1, and further negatives. >> we are looking at rates near zero for a long time, maybe forever. >> there is a certain logic in the market doing better than the economy here. >> this is "bloomberg surveillance," with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. a simulcast come on bloomberg ra

for the view from beijing, we turn to tom mackenzie, our co-anchor a bloomberg markets china open. how does it look from china? tom: i want to give you an update on how it is being covered here in beijing. we work given an update. on the front page you have joe biden and the headline that he has now been nominated for the democratic ticket. now talking of potential military confrontation you have a headline that says the people's liberation army of china has sent a warning to the u.s. navy over navy patrols in the taiwan strait. there was conflict in iran, and this has been the case for decades. the hot spot in this region is china and the u.s., taiwan and the taiwan strait. those are some of the concerns as freedom of operation patrols are a big concern for the chinese. the other english-language version has joe biden on the front page and it says biden may be smoother to deal with. the chinese were unprepared for trump. they say whatever happens in 2020 november, it won't be a black swan event. they will be prepared for either option. david: thank you for that report to tom macke

view on that. the european close is coming up next, details in a moment, this is bloomberg. ♪ you doing okay?ving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. puts its customers a wiin charge?rier well, the good news gets shared. and it gets rated #1 for customer satisfaction. but don't just take our word for it. take theirs. it's your wireless. your rules. only with xfinity mobile. call, click or visit a store today. guy: 30 seconds until the end of regular trading in europe. a thursday in august. volume is tremendously light. that is to be expected. european stocks edging lower. it is any eclectic picture when it comes to the stock sectors. we are seeing miners under pressure. w

bloomberg television. up next forget the dot.com bubble this time is even bigger. and that's the macro view what is driving markets around the japanese story. and why european equity markets sold off so aggressively. this is bloomberg. nose ♪ ♪ matt: welcome back to bloomberg markets. this is the european open. almost an hour into the trading day and looking at equity indexes that are falling, the dax down now .8%. over 100 points is the drop. and we started out the day just 53 minutes ago on a pretty positive footing. let bring in bloomberg and live currency and rate strategist. and we're wondering, what has turned stocks around? of course, asian stocks fell at the end of the session because of the expected resignation of japanese prime minister shinzo abe. but i've also noticed the euro keeps powering higher. right now up to almost 119. is this a problem for european stocks? >> good morning, matt. this is going to be a problem for european stocks. very soon. particularly for europe and -- above 120 levels and hold on there. the way i see the equity markets, broad equity market underperfor

the president of the dallas fed, robert kaplan, on his views of the economy, and what can be done about it. this is "balance of power" on bloombergand radio. ♪ david: this is "balance of power" on bloomberg television and radio. i'm david westin. robert kaplan, the president of the dallas federal reserve, spoke earlier today with michael mckee about the state of the u.s. economy and what the fed and others can do about it. robert: it is still our view that we will contract for the year at about 4.5% to 5%. after a very sharp decline in the second quarter, we would have a healthy rebound in the third and fourth quarter. i think that rebound is more muted in the united states now, has caused me to think the unemployment rate -- if we don't do a better job managing the virus -- is likely to be above 9%, 10%. we have moved up our unemployment forecast. rebound,k we have to thant is much more muted it was. if we don't do a better job managing the virus, we will have lower growth and higher unemployment rate. i've been spending a lot of my time talking more about the virus than anything else because it is so critical to the recovery. t

the view is that the next quarter should not be as bad. manus: thank you very much. that is the bloomberga correspondent. it is all about oil and the fed for me this week. and do you trust scott minerd? 50 -- we zero stoxx will also see how sanofi opens up. you gave us details earlier about the breaking news. that is it for "bloomberg daybreak: europe." this is bloomberg. ♪ you doing okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. ♪ anna: good morning. welcome to bloomberg markets: the european open. i'm anna edwards live in london. the cash trade is less than an hour away. here are your top headlines. tensions rise between the u.s. and china after trade t

i will view that as an important consideration as i make judgments going forward. still at goldman sachs looking at your bloombergl do you think we see bubbles forming now? concernedwould be that when the fed takes the type of actions we needed to take you have excesses and risk assets. not just prices, but what i am concerned about is that build up. tom: robert kaplan, an interesting speech. michael had a strong week last week, he cannot do that again this week. what an interesting jackson hole to say the least. coming up, we continue with the pandemic. cases are better, deaths are better, those dynamics are inderful, particularly here new york city it has been remarkable the improvement in the new york area. fstein will join us from johns hopkins university. stay with us through the morning, this is bloomberg. ritika: this is bloomberg surveillance, i am ritika gupta. the u.s. airline industry coming up with ways to get more travelers on board. united airlines has put an end to its $200 change fee for domestic flights. warmcan airlines adding weather destinations in florida and mexico after cutting flights 55%.

a columbia university professor weighing in on that as well as his views on japan's physical response to the pandemic. this is bloomberg and fiscal response to the covid-19 pandemic has prompted questions about central bank independence. boj's governor defended that independence at her roundtable -- at a roundtable with former fed chair janet yellen. i don't think this would make the central bank less independent. leading our discussion is takatoshi ito, professor of international and public affairs at columbia univeristy, which sponsored that event. he joins us from tokyo along with our own kathleen hays. wonderful to have you with us. we appreciate your time. to gauge, monitoring that conversation, what was the feel you got from the boj views of theo his independence of the boj and also how closely independent -- closely central banks after work with their counterparts in this unprecedented era. --fessor ito: the governor: defended the central bank independence strongly, saying he is adhering to mandates has two , andved a target of 2% fiscal authority does whatever fiscal authority is given the mandate that it is gi

view film priced at about $30. the attempt payment -- entertainment giant -- global news 24 hours a day, on-air and quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine: thank you. let's get the latest from lebanon. the video we are about to show is dramatic. a massive explosion at beirut's main port has rocked the city, killing over 100 people and overwhelming possible -- overwhelming hospitals. -- it is not known if it was an accident or an attack. do we know what the cause is yet? i don't know if you can hear us, otherwise we will get back to her some time. we will get back to you and here the latest on what we know the latest -- of the blast. a challenging third quarter, the german company plans to save around 25% in investment expenses this year and expects revenue and earnings to fall significantly. earlier in the crisis, it said it would cut its dividend payout to about 350 million euros. joining us is the chief financial officer of continental. thank you for joining us. what can you tell us about how the pandemic will change her company

views. he is renowned for his condemnation of chinese authoritarianism. global news, 24 hours a day, on air and on bloombergtake, powered by more than 2700 journalists and analysts in more than 120 countries. i am karina mitchell. this is bloomberg. shery. has bounced back into profitability following record losses. now, it is ready to jump into a new venture but it is not the usual high-tech moonshot softbank is known for. it will be forming a traditional asset management business trading public stocks. avel has more. a lot of investors are asking themselves the same question. been kicking this around for quite a while. it is not surprising considering how many of those people come from finance backgrounds. they have had some success with media derivatives. the wirecard deal was supposed to be one of the first ofestments in this new vein investments which unfortunately has backfired. it seems to have not deterred softbank at all. has movedho was an -- on to become an executive vice president at softbank, directly advising on investments. we are hearing it will probably be tens of billions of dollars of tec

view of government, created by america's cable television companies as a public service and brought to you today by your television provider. e events of the convention,ational jennifer epstein, from bloombergk you for joining us. rating, what was the what is the sense of those watching or those reporting like you about how the first night went? itst: you know, i think depends on the perspective that somebody has, if they are a political insider they might say that this was not enough leastcians speaking, at until the end of the evening, i think both bernie sanders and michelle obama have gotten high marks for their speeches, which were a bit complementary and kind of both talking about the ultimate goal of defeating donald trump, michelle obama talked about the line that was kind of central to her convention speech in 2016 when they go low, we go high, and saying that still applies despite everything that has happened in these last four years, and she stands by it. so, it was also just a mix of different people from around the country, which you will see a little bit less over the next few days, but there were powerful moments in there as well. there is the woman whose father was a trump s

bloomberg spoke inclusively with bill gates, and of course, the microsoft cofounder, about his viewsg tech war and doing business with china. the whole situation is quite novel, in terms of the principles involved, what principles should china apply to companies in china, the u.s., or those reciprocal and thought through and predictable. now.ot at the company we have made investments in china, we have engineers from all over the world, including in china. aboutoft is very careful is data promises, and will try and have strong relations globally. we won't do things that are hostile, viewed as hostile. >> what about the app in general? obviously it is very popular. is it something you would like to see in the microsoft family? >> it is nice tik tok has created some competition through innovation. preventingseem like that innovation from being sense whenakes much you want new things out there. i'm not in the target audience, so i'm certainly not expert. i've gotten a lot of education about my youngest daughter about this and why she spends time on it. they did a great job on it. there's

. ♪ haslinda: the hospitality industry yvonne: earlier, bloomberg spoke to the american ceo of jll hotels and hospitality, and got her viewthe current state of the industry. demand one pent-up the lesser side, we have had -- and if yous look forward, our expectation is we will see a modified version of corporate business coming our way in september. mark isquestion businesses, and it should be coming back. it will depend on what a vaccine is widely available. >> let's focus on that piece of some hotels are managing to capitalize on this vacation trend. people will check into a hotel in their own city for that experience. there are ways to get that revenue back. before we get planes back, how do you get the corporate travel revenue back in the system? we are eagerly awaiting to see what will happen from a inernmental perspective september. ease of travel, any restrictions, corporate policy. we are traveling, starting to travel to client meetings. it is interesting in terms of provided in a disruptive environment. we are seeing the corporate demand come back in a modified version. people need to travel. for us to grow, we h

he gives views on china, on what some are calling a cold war over tech. we welcome back tom mackenzie, anchor of the bloomberghanks for staying with us. give us the perception from china. do they agree there's a fundamentally different approach to the internet than the united states, whether an instrument of safe power or not? emily: increasing --tom: increasingly, there is a view we are getting a bifurcation of the technology world between the west and china. huawei was the jewel in the crown because it's a major private company linked to the party, a massive international presence, and it was leading on innovations. it is the leader in 5g. it's been very successful at that. the most recent curve announced by the trump administration tightens the news, and i -- noose. i was speaking to someone who said that gives them a timeframe of six to nine months. after that, they could be down for the count. they could be building their own semiconductors, but they're still at least 5-10 years away from that. huawei was hoping to set global standards. they are still doing fairly well in places like africa and submissio