is against what you're saying bob dudley the current american c.e.o. says b.p. continues to make bold changes continues to make bold changes across the group as part of a commitment to advancing a low carbon future you know this is getting a bit outrageous that these companies will still talk about the fact we're going to be burning huge amounts of oil and gas through 220402050 etc etc and the next moment they'll turn around and say we're being really serious now about our economy consistent with the climate goals of the bears agreement is what they say but you have to look at the pattern of investment the amount of money they're spending on renewable energy in comparison to the amount of money they're putting into brand new oil and gas projects as software $1000000000.00 after 1000000000 on renewables $16000000000.00 on oil and gas and that's the patent that goes on year after year after year and they have to get smart about this before their investors get smart about it because once the investors say we're not going to put any more money into projects that are

bp chief bob dudley is preparing to leave the company within a year. helm after the 2010 deepwater horizon crisis, leading the energy giant for almost a decade. shares in the company have climbed by about a fifth during his tenure. bp declined to comment. spacex' elon musk has announced starship,a full call a vehicle that will take humans to mars and beyond. musk says the goal is to fix problems like air travel. it came on the 11th anniversary of the spacex rocket reaching orbit for the first time. that is your bloomberg business flash. thank you very much. let's talk u.k. politics. boris johnson is fighting a series of allegations about past behavior. he is denying he groped a journalist 20 years ago and he says he follows the rules in his links to a former model. and entrepreneur. the fuhrer is overshadowing the overshadowing the conservative party conference. i want to talk about sterling risk. they have given me a wonderful new 3d model. have a look at this. and structurelity for option pricing, the most expensive ever. to protect myself for three

paul: reports from london say bob dudley is preparing to step down over the next 12 months. ceo took the reins of bp iser the 2010 disaster and focused on restoring the company to the status it had before the crisis. the explosion in the gulf of mexico killed 11 people and spilled billions of euros of oil into the ocean. facing billions of dollars in legal costs and damages. shery: morgan stanley has slashed its evaluation of alphabet's waymo saying self driving technology is taking longer than expected to develop. worth $105says it is billion, well below his $175 billion valuation 12 months ago. he says autonomous driving faces a series of hurdles, adding that morgan stanley had underestimated how long human safety drivers would still be needed behind the wheel. plenty more to come. this is bloomberg. ♪ paul: it is 8:30 a.m. monday morning in sydney. market open 90 minutes away. futures pointing weaker at -- by 2/10 of 1%. this after u.s. equity markets closed a little lower at the end of last week as well. i paul allen in sydney. shery: i'm shery ahn in new york where it i

reports from london say bob dudley is preparing to step down in the next 12 months.t bp after the 2010 deepwater horizon disaster and has focused on restoring the company. the explosion in the gulf of mexico killed 11 people. oft bp facing billions dollars in legal costs and damages. includes citigroup and rsa insurance. that is according to the u.k. sunday times newspaper. the interim ceo is seen as another strong candidate. the report says a key consideration, his experience in asia. september is on track to be a record for foreigners buying a shares. overseas investors had injected more than $9 billion into the market by friday. the shanghai composite index is heading for its first monthly gain since june. time for the stock of the hour. you are the man of the hour looking at a shipping stock. rishaad: cosco on the way down, 20%. this is the position we find ourselves in. these trade concerns are certainly playing out definitely. 20.4% to the downside. a lot of news surrounding what has been going on. social media volume increasing. global oil freight rates fallin

bps ceo bob dudley will sell oil projects so he can beat climate targets set by the paris accord andcts. pickens had enough careers for a half dozen people. or and a oil wildcat vocal supporter for wind and natural gas power. he died. he was 91. tom: thank you so much. mr. pickens was a total class act. let's go to the data. we have an esteemed guest to drive forward the conversation. s&p futures up five, dow futures up 58. year-round does nothing. 15, 14.77.l under i lay out the negative rate sure of germany and the extraordinary experience, the japanification of japan and the u.s. is a clear outlier. francine: i am looking at the bonds. central banks, the ecb meeting and about an hour and a half. i am looking at chinese renminbi, it strengthened a touch. we saw the european structs -- stocks erasing earlier gains. drifting as investors are trying to figure out what happens next in the brexit saga. tom: i want to hit this twice in this hour. this is the essay of the summer. down we go on lower and lower interest rates. modeling out how to get to a 10 year yield below zero. the extra

. -- bob dudley is preparing to leave the company within a year. 2010ok the helm after the deepwaterorizon crisis and he led the energy giant for almost a decade. shares have climbed. bp declining to comment. that is your bloomberg business flash. francine: ecb president says he can do more but needs help from fiscal policy. -- he repeated his call for government to help euro area inflation. holger schmieding is still with us. holger: not much has happened recently. the various countries are doing what they want to do anyway. francis cutting taxes a bit. italy is looking at ways to be forced to tighten fiscal policy. germany is looking to combat climate change. that is all happening but there is not significant acceleration. francine: there is a lot of pressure from germany. they are the ones who can afford it. if they wanted to have a big fiscal stimulus package, where would they put it? --ger: spending package is that germany should open the tax to spend more on infrastructure. it is wrongheaded. we have seen recently is the rise in prices for public construction projects has reach