christine lagarde is already on board. disaster, 13 people died and some say the cleanup bill could top $5 billion. climate changes. the world's wealthiest people are signing up for a healthier future. clean, affordable energy. do follow me on twitter. china-hong kong markets getting underway. singapore is starting up their trading week. it is a busy one. here is haidi. no rest for the wicked as they close in on the last month of trading for the year. let's look at how we are sitting at the head of a busy week very a dire look at the markets here in asia. meeting -- further easing, more cuts to the deposit rates to 70. the payroll data is coming out. the policy review, liftoff is expected. let's take a look at the markets. stocks are popping up by 4/10 of 1%. the region, extending last week's selloff on the back of those chinese jitters. take a look at the china market. we are expecting brokerages making headlines of the weekend. we have more details on what is driving those brokerages down. all three of the brokerages are

christine lagarde is already on board. disaster, 13 people died so

christine lagarde explained the global impact of this decision. it will clearly better represent the international community based on those criterion of trade and freely usable currencies. a pair of beer brands could be sold so that the biggest brewers could merge. peroni andill put grolsch on the selling block. ev is buying sab miller and divesting this brands could relieve antitrust concerns. ibm is reporting that sales and the weekend after thanksgiving saw a jump for the same time last year. the ceo of wayfarer said that amazon is the leader online. is obviouslyazon the leading online retailer, and i think that if you look across major categories of merchandise, they are the leader. home furniture, decor, housewares, home improvement. we are the leader there. it is a very specific spot, 12% of total retail. the vast majority, the other 88, amazon is the big winner. scarlet: a jailed billionaire is stepping down from his position at the largest independent bank. andrÉ esteves was arrested last week in a corruption scandal. btg pactual is in talk

christine lagarde, i saw her at panel discussion. she talked about how she was disturbed by the events in paris, and she asked the people in the room to call anyone they know in france and express their sympathies. the lack of hope is fueling terrorism in places like paris. many of the leaders were just concerned about their own staff. have a listen. >> we not only work in paris. that is our headquarters. , and i'ml very struck actually canceling my trip to , going back on monday to join all of our teams, all of our staff. we have already secured where we work. we are taking strict measures. the most important thing is that we have to continue. life has to go on. we cannot let them beat us. let them make us go back with fear or disrupt our lives. ryan: we spoke with martin sorrell, the ceo of wpp. he was trying to verify if all of his staff were ok. and we spoke, one of the family paris, of an employee in 5000 employees in france, was still missing. he was very concerned about that. it has had a very powerful effect on both political

what are the new illusions that we have with christine lagarde's new mediocre compared to 1998?e make linkages that would lead to the instabilities that we saw then? 1998 had an emerging market financial crisis that had remarkably few repercussions. emerging markets are much larger now. more than half of world gdp, more than half of world trade. financial conditions will impact much more. it is not the same story at all. tom: so the look at the brazilian real -- let's go to the terminal. here is the success, the strength of the brazilian real and the recent carnage, up to 4. we have come up a little bit. janet yellen controls that. she is the central banker of the world. was that true in 1998? willem: yes, it was as well. that is not different, but there is a significant brazilian contribution to their decline as well. rate andu.s. interest from china and commodities. vonnie: i think janet yellen would probably reject a little bit the claim. it is true that u.s. interest rate policy affects countries everywhere, and in eastern europe as well. we have the norwegian central-bank j

christine lagarde says she to be approved.ity is tight in paris as world leaders gather for a summit. countries have already pledged cuts. stronger political will since the 2009 copenhagen summit which ended in disarray. let's get the latest from the markets. clarity on the morning session. ofdi: angie, quite a bit volatility. the chinese markets, halfway through the trading day. this is how we are sitting as of midday. shanghai and hong kong heading to lunch. about a quarter of 1%. we are seeing quite a lot of losses. one of the biggest losers in the region. let's take a look at the brokerages, one of the major catalysts for last friday's selloff. shang i had its worst weekly performance in about three months -- shanghai had its worst weekly performance and about three months. it is a pretty mixed picture when it comes to these securities brokerages. the chairman and ceo is missing. since not been in contact november 18. it is unclear what is driving this extended selloff. we had a number of analysts saying the selling on fri

christine lagarde: they all need to pull their weight.is a critical year, big trade deals are on the table. there is a big climate deal coming up. also a lot of opportunities, development objectives, there is a three key agenda item and in the world of central bankers and business, all of them have to really rally around those jobs and growth objectives in the context of big deals. >> all of the above, central bank is doing its part and doing as much as politics will allow. business leaders are primed and ready to go. the question is whether there will be a political leadership to put a dynamic framework that has both demand and supply elements in place for adequate growth. ana botin: banks are prepared and ready, we are at the central part of the equation. we are the transmitters of monetary policy. to the real economy, businesses and people, they want to buy a home, get a mortgage, i think that we need a balanced approach to regulation that brings in policy issues that we discussed today. francine: in two or three months, if you see the

i was at a discussion with christine lagarde, and she was talking about how horrified she paris, by eventsn the attacks. she said she had never been through anything like that before and she made a real impassioned plea to the business leaders that were at this panel to reach out to their friends in paris and offer sympathy and also to do more to address the issue of inequality around the world, to invest in countries where they need investment, to try and stem terrorism by giving people where there is little hope more hope through business activity. it has been nothing short of profound in the way that it has affected what is normally a gathering of countries that discuss the economy. obviously over the last 24 hours it has been entirely consumed by discussing the terrorism we have and thefrance, migrant refugee crisis. rishaad: the thing is that we have new targets being hit in syria. everybody is saying it is now the time for increased cooperation. is there a sense of that coming through there? ryan: yeah. i think there is. for example, these new french airstrikes are an example. the u.

betty: thank you very much john. .uch more ahead as we have been discussing, decision day, christine lagarde on the vote and decision. that is in less than 10 minutes time. we will bring you her remarks and all of those headlines live on bloomberg television. ♪ betty: we are moments away from the european close. mark harton joining me from london for the next half hour. some of the most important news hitting the global market. we are about to get news from the imf. they have had their review. bewe know china will admitted to reserve currency status. back in july the preliminary report the imf suggested 14%-16%. when christine the card said we will have it for you. if we don't have it for you live, we will tell you about it. we are waiting to see what the weightings are. and also, the discussions and the risks and the pros and the cons. hopefully we will get insight to that when she's. we will spot to chief economist. interestingly, one of her big year and themes is china. ecbis looking at china, the and the dollar. drum anyg the ecb louder ahead of the meeting. every economist has unanimous

china has contributed to 30 to .0% of global growth christine lagarde, the next time she comes out with forecast, will have to lower it quite significantly. lagarde'sconds -- is new mediocre still here? sri-kumar: i think she is right on. tom: komal sri-kumar pushing against the optimist this morning. is a fabulous treat. we are thrilled to bring you in our next half hour robert burke of robert burke associates. and vanessa friedman will join us from "the new york times," with a spectacular article she did over the weekend. we will do that next. ♪ tom: good morning, everyone. "bloomberg surveillance" from new york city and london. jon ferro is with me as well. here is vonnie quinn. vonnie: republicans will hold the top job in 31 states after a decisive it -- after a decisive election result. kentucky has elected the first republican governor in four decades. republicans have dominated federal elections in the bluegrass states, but democrats have controlled -- the state's voters rejected a plan to bolster a public school's funding. this as voters sided with gop leaders to oppose oversigh

he has already met with christine lagarde, angela herkel, barack obama, t japanese prime minister, and british prime minister will be traveling to him by car, going to his hotel to discuss both ukraine and syria, because he says while he has so many differences with the russians it is important to work together with them to hit isil in syria. it has been an extraordinary about-face in terms of relations between russia and the west. thatussians are saying they think the events that took place in paris are a game changer. anna: ryan, take us inside that meeting between putin and barack obama -- it has been a while since they have's token to any material degree. do they have any kind of rapport, or is this tricky functional? -- strictly functional? ryan: no rapport whatsoever, this was strictly business. neither of them really looks like they wanted to be there. they were sitting at a table together with their interpreters, but they had a very serious conversation that lasted just over 35 minutes. it was the first time they had spoken since the russian plane exploded over sinai, the first

the head of the imf christine lagarde saying china's currency, the rue wan will be added to th basket. it is an acknowledgment of china's many reforms it's taken to open its markets and economy and it's assent to economic super power. though the dollar is still king. it makes up about 41% of the imf reserve currency. 30% is the euro. 11% will be the chinese yuan and the japanese yen and british pound making up 8% each. so yes basically china takes the number three spot in terms of the world's most important currencies. it is a milestone for china's effort to become a global power player and a safe place to attract investment from around the world though the imf did acknowledge there's still more work to be done on this front. the u.s. was a voting member of the imf, so the administration is officially on board, but, guys, we know china tends to be a political punching bag on presidential campaign trails, so you can watch for some backlash, mandy. >> i would imagine so. thank you very much for that. let's see how chinese etfs trading in the united states are reacting. what are we seein

thehanie: you want to take deep dive into angela merkel and christine lagarde and the overall globalin reykjavik last week meeting with ic prime ministers and the reason why he was there is is if he wants to do a relationship with angela merkel. how do i get this close and not this close? the other thing these numbers tell us -- stephanie: he wants to be a friend, but does not want to be in bed because now they have problems. brendan: i'm not going to go to that. we do not get controlled experiments and economics. we have to take countries as they come. britain is seen as an experiment in austerity. i do not know if that is necessarily correct. if this works, britain is want to have been seen as pulled off austerity. even though that is not fair to say that that's what they do. david: it's a delicate thing with what cameron is trying to do here. readanie: my morning must is so big and so special that i had to make my way over to matt miller. nt haven't talking about valea all morning. ackman has been defending this. warren buffett's business partner came out months ago warning saying

if you remember christine lagarde urging her not to raise rates, who does she answer to and what is she onestors say already, should have raised this 12 months ago. >> is any really speaking in his own self interest here? fedhe big concern is if the does hike rates or cause china to devalue the you want more, and what that could do to the global economy, it is one of the big concerns of a lot of egg fund managers at this point. we saw the instability in august, and a lot of it spurred lawn,he evaluation of the -- people are spending and even bigger evaluation. >> at some point, janet yellen has to pull the trigger p are you will never have a bulletproof global economy. >> that is actually true but if you just listen to what she says, mostly she wants to see strong employment and signs of inflation rising and that leads to december and she is stuck to basically a regular dual mandate. >> why did she have to raise rates? stephanie: how about the unintended consequences of leaving them at zero? >> a lot of those have already started to reverse. people are seeing the potential default rate

christine lagarde at smith.ut also initivity tolerance and it is disproportionately an instinct on the left. i am a pro-choice liberal who has been invited to affect evangelical christian universities. catholic universities where i have praised condoms and birth control. i am sure it has comforted many students on these conservative campuses. in the same spirit, liberal universities should seek out pro-life, social conservatives to speak. more broadly academia especially the social sciences undermines itself by a tilt to the left. we should cherish all types of diversity including the presence of conservatives who infuriate us liberals. education is about stretching muscles and that is painful in the gym and the lecture hall. amongme frustrations minority students boiled over after administrators seemed insufficiently concerned about offensive costumes for halloween. videos showed a furious student shouting down one administrator. she screamed it is not about creating an intellectual spin. that is a little bit f