continues with bps bob dudley stepping down.of the moves we have seen this week aired that's next. this is bloomberg. ♪ anna: welcome back to the european open. 53 minutes into the trading day and european equity markets are up by about a quarter of 1%. u.s. futures dewpoint downwards. ofs week has seen something a reshuffle in top european companies this morning, bp announced that bob dudley will be retiring in march. he will be succeeded by the upstream ceo. a spy scandal rocked the swiss banking world and saw the coo resigned on tuesday. in the retail world, we learned that they've lewis is stepping down and the imperial brand the ceo is also leaving after nine years. -- bank is saying goodbye to its founder sooner than expected. and finally met the founder and vice chair at standard life aberdeen is retiring in after decades with the asset management business he helped to found. so a busy week. matt: a busy week for the labor market. at the very top. let's talk about the broader market in the u.s.. joining us is our mliv fx

annamarie: bob dudley, thank you very much for your time. that was outgoing ceo of bp bob dudley.nd has a new boss, bernard looney who was speaking with us at oil and money. he is very excited about gas, bleeding include -- being included in an energy transition. alix: thank you so much. annmarie hordern joining us with bill dudley for -- with bob dudley from bp. coming up, "the open" with jonathan ferro. a relief rally in markets. relief markets holding onto the highs of the session after yesterday's brutal selloff. the potential when is if we wind up seeing china by more agricultural products. they say they will do that if the u.s. winds up taking off the tariffs in october 15 and december they have threatened to put on. that is the dynamic playing out as we headed to talks for u.s.-china over the next 24 hours. in other asset classes, not a lot of movement selling in the u.k. and the bond market, that has eased off. the dollar turning weaker in the g10 space and you see crews bouncing along with risk on feel as bob dudley winds up stepping down after just a few months as ceo of

this just in, bp's chief executive bob dudley is retiring.e replaced by the oil giant chief bernard rooney. he is capping a 40 year career with bp. than nine of those as ceo. he will retire on march 31. and in the u.s., president trump says xi jinping should investigate the bidens, the remarks coming after he reiterated his call for -- trump says the bidens'conduct in china was just as bad as in ukraine but offered no evidence. biden's campaign dismissed the remarks. kong, the government is set to ban facemasks for protesters. it is a bid to quell months of violent unrest but the move is part controversial because it invokes emergency rules for the first time since the city was under british rule. local media say the ruling will come into force after a special meeting of executive council later today. global news, 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. matt: thank you very much. rate cuts.another india's central bank is set to reduce rate

emma: this on the news that bp ceo bob dudley is to step down by february of next year after 10 years and the top job. headll be replaced by bp's of upstream. that makes him responsible for all oil and gas expiration develop and and production. analysts calling that choice the right one. let's take a look at how bp has fared under bob dudley, who took over in october 2010, just a few months after that deepwater horizon oil spill in the gulf of mexico. really credited with righting the bp ship after that, shares rising 12%, less than european peers, but more than the stoxx 600 energy index and more than u.s. rival exxon. under bob dudley, total return .f bp reached some 82% bp has the highest annual dividend yield of its peer group. when we look at what is in store for bernard looney, his real challenge is to navigate bp's energy transition to put more pressure on the comedy to address sustainability. bp aims to have 29% of its energy mix from renewables by 2040, but there is pressure from some to act more swiftly. nevertheless, barclays today out with a note saying that looney is the

bob dudley steps down., good afternoon if you are watching from asia, this is bloomberg surveillance, i am francine lacqua. >> good morning. i want to start with the chipmakers. apple. they are said to have told her chipmakers they are increasing production by as much as 10% for the new iphone. cook talking to a local french newspaper about a growth in the smartphone. a lot of positive news for the tech giant. bp up more than .5%. bob dudley will resign. there is a new ceo in place. the market seems to like the new choice. thant line insurance more -- down more than 2.5%. authority is saying competition is not working for consumers in motor and home insurance. trump onceresident again called on ukraine's president to reopen an investigation into joe biden and called for china to do the same. >> china should start an investigation into the bidens. what happened to china is just about as bad as what happened with ukraine. francine: this after the house of representatives began an inquiry into impeaching trump

outgoing bp ceo bob dudley speaking to us. let's go to chicago with futures in focus.de deal, does wti crude go sub 50? >> probably. that is most likely. we are scraping off the bottom recently so when you look at the current trend, if there is more disappointment, i would expect we are going to challenge that 50 level and break 50 is there it -- if there is more disappointment to come. guy: let's talk about the fed. powell is going to be speaking and we are going to get minutes. the market is locked in. do you think that is marked in -- locked in or do you think divisions in the fed may cast a few seeds of doubt? >> there are still a few seeds of doubt. a 75% chance of a cut at the end of the month. ,ptimally, the narrative particularly the fed chair narrative is they are going to move at the end of october as well. guy: which is the most important narrative, the most important focus right now? is it the fed or trade? >> i think it is trade because trade is dictating the fed policy. hopefully we will get some positive news coming out of this meeting later this week. g

it's the last set of numbers for current boss bob dudley, who revived the company after the deep waterorizon disaster left it on its knees. —— deep water horizon. however, big challenges await his successor, with growing climate concerns leading many to question big oil's long term viability? public opinion is arguably turning against the sector. the royal shakespeare company is ending its partnership with bp at the end of the year, saying it could not ignore the "strength of feeling against the deal. meanwhile, in the us, exxonmobil is in court fighting a claim that it misleading investors about the potential costs of climate regulation to its business. and climate change is arguably already having a measurable impact on the industry. the number of big institutional investors, like pension funds, promising to get rid of their fossil fuel stocks has risen sharply in the past five years to over 1,100. joining me now to discuss this is jeanne martin, senior campaigns officer at shareaction, who lobby for what they call responsible investment. good morning. thank you for being with us on

bp investors not too fussed by the resignation of its long serving chief executive bob dudley. buy it, is considering raising its offer price. and not much movement on the currency markets today. that's all the business news. the winner of the royal institute of british architect's most prestigious award, the riba stirling prize, will be announced on tuesday. there are six nominations for britain's best new building of 2019, which include a sculpture park, new council housing and a property made entirely of cork. all this week we have been taking a closer look at each of the nominated buildings. today we are looking at london bridge station — the enormous project in the heart of the capital connecting travellers all over the country and beyond. london bridge station was probably the most muddled and difficult station to get around in london. it was very overcrowded and wasn't a particularly nice environment. the brief from our client was to create a new station in the middle of the existing station by cutting through all the victorian arches to create this large concourse. the

the british energy company saying bob dudley will leave in february. for 40 years. 2010ok over in ceo after in the deepwater -- after the deepwater catastrophe in the gulf of mexico. jolt for wework. the company telling employees job cuts will take place later this month. the company saying about 2000 jobs could be a limited. some of those cuts may be jobs and business units that may be spun off. united airlines is ramping up efforts to fill a gap in the number of pilots. united is offering new financial perks. the airline figures half its pilots will retire over the next decade. it needs to recruit 10,000 flyers to make up for that. i am viviana hurtado and that is your bloomberg business flash. the: we wanted to focus on finance industry and how women are faring. michael mckee looking at those numbers. michael: let's start by looking at the finance industry itself. in the past month we saw security dealers losing jobs. they have been the big winners. security dealers have been adding jobs when banks are cutting back. this time it was the opposite. ban

bob dudley there. still to come, we will be joined by j.p.n's global head of corporate banking from shanghai and we will discuss the impact of trade war is having on business. this is bloomberg. ♪ shery: this is "daybreak asia." i am shery ahn in new york. paul: i am paul allen in sydney. each year, the jp morgan cfo highlights the challenges and opportunities for corporate's across the region. bloomberg television again has exclusive access to the events and stephen engle is there. ?o how is the mood stephen: we have so much to talk about. let's get right to it with our first guest this morning from the jp morgan cfo -- asia-pacific cfo treasurers forum. we have the global head of corporate banking. thank you so much for your time today. what should be foremost on investors minds as we approach 2020? lots of volatility are in the world. >> it will be -- volatility out in the world. >> low unemployment. not being able to pass on these extra costs. the margins are squeezing. high corporate debts. altogether, some weakness is there. then, you g

one of the world's most influential oil executives bob dudley recently announced he will step down from post next year. this week he spoke with annmarie hordern in london about leaving the company at a pivotal moment for the industry. environmenthis new will create a lot of opportunities for companies that adjust to it. people want an instant solution on everything. our investors want us to do a lot of different things. like other companies as well, we will be leaders in this space. we do wind and solar and biofuels. we have thousands of people working on that as part of the transition. bp has a lot of opportunities. >> what is your advice for the incoming ceo? >> he will do a great job. he will focus on the fundamentals. bring your team together which he willdo and then, and do it great, just be really dedicated to the job. bp has a great foundation around the world. balance sheets are in good shape. i am happy to pass along the baton. no drama. edition ofhe latest bloomberg television come at ceo spotlight, caroline hyde sat down with james dribbling. he leads the company that spun of

troops carried out their rings on the compound where bob dudley was heightened. the u.s. house of representatives is set to vote this week on whether to formalize the impeachment investigation into president donald trump that would lay the groundwork for public hearings and outline how to handle evidence the move is in response to complaints from trump and some republicans that the process is illegitimate thousands of people in los angeles are being forced to leave their homes to flee a fast moving brush fire burning in the west of the city a series of wildfires are burning around the state with almost 200000 people under evacuation orders and protesters have blocked roads and shops remain close in british capital after the opposition leader carlos mesa called the strike basis says the government's rig the results to prevent a runoff president ever moralists who won last week's presidential election has accused his rival of mounting a coup well those are the headlines the news on continues even al-jazeera after return of the president to stay with us. this is the presiden

he replaces bob dudley who is stepping down next year. years ago. the number of illnesses linked to vaping keeps growing. more than 1,000 people have fallen ill with a mysterious lung disease linked to e-cigarette use. the cdc hasn't been able to pinpoint a root of this. the agency report the number of vaping related deaths in the u.s. has climbed to 18. a high powered new york lawyer is going to prison for his role in the college admissions scandal. gordon kaplan receiving a one month sentence for paying $75,000 for a test proctor to fix his daughter's act score. he is the fourth parent in the scandal to be sentenced. clothing retailer barny's may have found a lifeline. the wall street journal reports a group of fashion executives is preparing a $220 million bid to take control of the bankrupt company. barney's filed for bankruptcy protection in august after the landlord of its madison avenue store nearly doubled the rent to $28 million. and mark your calendars, starting monday mcdonald's' popular mcrib sandwich make its highly anticipat

bob dudley. british petroleum. i am still not used to bp. dudley, bp, 8:30.s bloomberg "surveillance." a lot of the focus is on china. we got up this morning, came into work, and there was so much copy and news about the fact that we are further apart from a deal because it does not feel like a trade war, it feels like the trade -- u.s. war on china. we heard from the chinese side they are willing to do a deal on agriculture, may be something the u.s. do not want because they want something bigger. the markets, a little bit of lift because of that encouragement news from china. s&p futures are gaining and 7.1321. at ,om: as kevin cirilli mentioned we need to see what the president of the united states will say about partial. viviana: the trump administration is pressuring china over human rights, proposing bands on chinese officials. this move is mostly symbolic because those officials rarely travel abroad. china is planning tighter restrictions for u.s. nationals, targeting those sponsored by u.s. intelligence and human rights groups. china turning up the pr

bp's chief executive, bob dudley, will step down next year, after running the oil company during one drilling accident. bp insider bernard looney will replace him in february. mr dudley is the third ftse 100 chief this week to step down. when did you last switch to a different provider for your home or car insurance? if it's been a while, you might want to double checkjust how much your paying for your cover. that's because the city regulator found that loyal customers are often taken advantage of. and you may well be paying a lot more than you should if, for example, you just let your policy renew automatically. in fact, it's such a problem the watchdog is suggesting solutions including a ban on automatic price rises and forcing firms to move customers on to cheaper, better deals. katie martin is from citizens advice. katie, what do you think of those proposals? or would they work? we think they are ripped really bold. we welcome them. this affects millions of people every year, many of whom can least afford to be paying over the odds. we are really pleased to see these proposals. t

bob dudley came in at an exceptionally difficult point in the company's exceptionally difficult points after the deepwater horizon tragedy, and had to undertake a fairly massive restructuring in order to foster or meet the costs of compensation and cleaning up that spell. as a result of that, refocusing the company strategy, stroking it significantly. i think strategy, stroking it significantly. ithinka strategy, stroking it significantly. i think a lot of analysts believe that ten years on, bp is a smaller, nimbler company. in many respects, he has left it in a relatively good place. but it has challenges ahead. it has become a lot leaner in terms of the oil price level at which it can make profits compared to the financial crisis and before deepwater horizon. so a lot of progress has been made, and investors will increasingly towards the part bp plays in the energy transition and looking beyond fossil fuel. david hunter, thanks very much indeed. these are bad for the environment, soa these are bad for the environment, so a sustainable version has been invented. our symbolic item is

bernard loonie will replace bob dudley in february.ugh one of the most turbulent timeses in the company's history. a japanese newspaper reported apple has been asked to boost production for the iphone 11 model by 10%, stock up one and a quarter percent right now. sources are saying the biggest demand is for the least expensive iphone 11 and iphone pro. apple not commenting but i've got to point out there was a price drop for the basic model, it's $699, it was $749 for last year's iphone xr. you cut the price a little bit, people start buying. maria: i guess so. that works. coming up, health care in america, president trump rolling out his medicare plan yesterday. aflac's chairman is weighing in on that. sesamestreet making big moves, heading to the streaming universe where you and your family will be able to watch on streaming. back in a minute. ♪ get along down the road. ♪ we've got a long way to go. ♪ scared to live, scared to die. ♪ we ain't perfect but we try. ♪ get along. ♪ while we can. ♪ imagine a world where nothing gets in the