mercedes-benz is owned by daimler.y want to phase outcome buston engines by the end of the decade. mark: what are you watching in the wake of the nike miss and some of their supply chain issues? what are you watching here from that? >> you want to take a look at the shares of adidas and spz pumas, at the open. it is really a supply side issue. not about the demand picture, which remains robust. it is a production issue in vietnam with factories being shut. this could impact adidas and pumas as well. you want to watch the european names at alt the open and how this could impact them going into that busy holiday demand period. dani: we have a lawsuit when it comes to barclays. what is the story there? >> barclays are being sued for $326 million over an alleged impact or involvement in a derivatives debacle. putting dutch affordable housing out of business. they have sued a number of banks including deutsche bank, and it is now coming after barclays. they are accused of paying commissions from 2008 to 2011 that totaled ov

. >>> the ceo of the german automaker daimler is seeing strength across the product line despite challenges that the group hopes ease liater this year. >> we hope q3 is the quarter that is most significantly effected by this with the shutdowns due to covid in malaysia and other places. we hope that in the fourth quarter that we will start coming back up again. >>> porsche is feeling the chip squeeze. the ceo says it is causing production line delays >> we have the situation with the semiconductors therefore, the waiting time is longer than normal it could be the customer waits half a year or more. >>> good morning welcome to "street signs." let's kick off the show with positive data overnight from china. exports came in ahead of forecast rising 25.6%s from august over a year ago that is well above expectations and above 19% from last month. a bit of a positive reactionin stock markets across the board you see we are seeing a rebound in chinese equity. chinese composite is up. the hang seng is heavily scrutinized the last couple weeks with the regulation drive also managing to climb higher t

dismissing the cease and dest letter, daimler and bmw have already reiterated their commitments to the015 paris climate accord while vw pointed to 25 billion euros of investment in its bid to bome a world leader in electric vehicles. however, coming just months after a dutch court ordered oil giant shell to cut emissions by 2030, the groups feel they have momentum on their side. >> we are of the opinion that a serious disssion can and should take place. if no satisfactory declaration is issued accordingly, we will file a lawsuit. >> in munich, climate campaigners have promised action, threatening protests to disrupt the event. >> the eu has reached a deal to end its legal battle with astrazeneca. the pharmaceutical giant had contracted with the european commission to deliver 300 million jobs by june 2021. its failure to meet the deadline sparked a political crisis as europe's vaccination drive struggled to get in gear. eu officials accused the drugmaker of prioritizing u.k. deliveries. under the new deal, astrazeneca will deliver 200 million doses by early 2022. >> this will bring the

daimler says it has already started to implement a pathway toward climate neutrality. singapore will maintain its current level on pandemic restrictions despite a rise in cases. the country has one of the best vaccination rates. an official says they are moving into a phase called living with covid and that there is no need to impose more curbs. they will start increasing testing and begin booster shops for vinyl workgroups. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm karina mitchell. this is bloomberg. ♪ greg: welcome to bloomberg markets. i'm greg bonnell. matt: i'm matt miller. we welcome our bloomberg and bnn bloomberg audiences. here are the top stories we are following for you from around the world. in u.s. jobs miss. the reaction to the august payrolls report with afl-cio chief economist william spriggs. plus, we discuss the state of the hospitality industry as bars and restaurants lose 42,000 jobs in august. caroline styne, the co-owner of the luques group, foundin

daimler says it has already started to implement a pathway toward climate neutrality.

that report from andrew, all economics editor abbot ali had the chance to speech the chairman of daimler, better known as basically mercedes. he art or le cologne. yes. about among other things, the electorate challenges from the lies of tesla and china's near. we are accelerating our past towards full electrification and indeed by the end of this decade, we want to put the company in a position where we can go all electric, where market conditions allow. and already at the middle of this decade, every new vehicle architecture from mercedes benz will be electric only. and on the path to the diamond hole in the next 5 years will invest more than 70000000000 euros in these transforming technologies to make it happen. you mentioned the electric architecture and there are going to be a lot less moving parts, particularly in the engine. what will that mean for jobs? there will be a change in profile on some jobs throughout this transformation this decade. and in the next decade, where some of the jobs that we know on the power train side on the combustion production will decrease. whereas we

index which in germany's very industrial heavy with big companies like siemens and also focused on daimlermw. the changes they are introducing now, i would not say it is a total game changer but it is certainly a nice labor and adds a different dna to the index. guy: germany has struggled to digitize its economy. the objective here is to give the impression that the german corporate sector is may be more growthier then it has been in the past. is that a reflection of what is happening in germany right now? jp: of course when you have a country like germany with lots of heavy industrial companies come the growth will always be lower than the normal growth stocks that are infinitely scaled over the net and have it much easier to go global than if you want to open a new client for building a new car somewhere else. i think germany has huge potential in a different way on technology. i just mentioned this one area where companies could make much more use of technologies within production chains and how the country is run on those heavy industries. guy: we look forward to the coverage later on

theo leggett is there for us and caught up with the boss of daimler and mercedes—benz who explained howarter primarily in malaysia due to covid shutdown. and what we have said is it will significantly impact production and sales in the third quarter and sales in the third quarter and we hope that in the fourth quarter we can start coming back up to some sort of a normal production level. we are happy that we have made ourselves resilient in terms of ourselves resilient in terms of our financials ourselves resilient in terms of ourfinancials in ourselves resilient in terms of our financials in the last couple of years, lowered our breakeven point so we can also save —— stay flexible through situations like this. save -- stay flexible through situations like this.— situations like this. initially we were holding _ situations like this. initially we were holding should - situations like this. initially we were holding should be| we were holding should be improving but they are getting worse — improving but they are getting worse. when will this come to an end — worse. when will this come t

we are going to hear from the ceo of daimler, coming up as well.s is bloomberg. ♪ angel: with the first word news, i'm angel feliciano. the price of aluminum climbed to its highest and more than a decade following a military coup in guinea. do west african nation is a major exporter of a raw material used to make the metal. the head of guinea's special forces says he took action to address financial mismanagement and corruption. the taliban say that international flights from dubai will resume. restarting international flights and allowing safe passage to afghans who wish to leave are key to the taliban gaining legitimacy overseas. banks are warning they are not ready for the european central bank's historic climate stress test next year, according to a survey of major european banks conducted by bloomberg. it is the latest sign that the finance industry is struggling to adapt to europe's ambitious goal of steering capital away from polluters. the ceo of volkswagen fears that the global trip shortage may last for years. herbert diess told bloomberg

the parent company of daimler spoke in munich.man firm recently cut its annual sales forecast for its car division, projecting deliveries will be roughly in line with 2020 rather than up the vacantly. deliveries of the dreamliner are expected to be delayed until at least late october according to the wall street journal. the report says the faa rejected boeing's latest inspection proposal. boeing stopped dreamliner deliveries in may so regulators could review its inspection processes. the first marble film featuring an asian superhero dominated the u.s. weekend box office with an all-time high record for a film opening over labor day. the disney movie made an estimated $71.4 million in u.s. and canadian theaters, blowing past initial estimates of $52 million. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. minutes. manus: angel, think -- manus. manus: angel, thank you. germany's election is on the horizon and drawing c

the daimler ceo saying this week he doesn't expect the issue to abate until 2023 now we are getting someositive news today plans to open a new semimanufacturing facility in oregon what's next? let's ask an industry expert, the former ceo of cypress semiconductor. welcome. i don't know if you've had the chance to see the announcement in detail but is it the kind of move more free market as opposed to government spurred that you'd like to see? >> it is a free market move, but it's one step upstream equipment not wafers i'm on the board of enphase and they've reported increasing quarters of revenue and what they did say is the revenue would have been even a bigger record if they didn't have a temporary shortage of semiconductors which is fixed by having three suppliers for the product that shut them down. the point is, you have to put much or most of the blame on the industries that are shut down. if they didn't buy the stuff they need to make their products in the appropriate quantities, that's their problem it's a national tragedy for us when the company's poor planning shuts down a 1004-

jp morgan is the poster child for all financials, right, everyone loves jamie daimler when you look at goldman, goldman has actually performed when you get a chance to buy goldman that is under water, so to speak, on an rsi level i think you want to jump at that but yes, you have to look at the yield curve. eventually, yields will go up. eventually the curve will steepen. hopefully the curve will steepen because i am pretty deep into value stocks and value stocks do need that? >> banks are value. >> steve, we will take a break here stick with us because we have breaking news on general phil lebeau. >> general motors has put together a plan to fix the recalls on chevy volts to fix the battery fire problems. chevy will be repairing these modules starting in october. they don't say how long it will take but they are working through this process of not only fixing the defective modules now that they have determined exactly what the problem is, in these chevy bolts that have these batteries that were manufactured by lg chem. they are going to be fixing them and putting in diagnostic softwar

we're starting with ride hailing, but we've also, we're testing trucks we've partnered with daimler trucksesting local delivery with ups and auto nation so we think there are multiple ways to leverage the driver. >> so, let's talk about the testing you're doing it was phoenix, but now san francisco. i imagine the topography, the roads, bridges, are totally different. is it a big challenge or a natural evolution? >> both. building the waymo driver, what you learn is that going to a city like phoenix, arizona like we did, it was early day, so bringing the community along was really important teaching them, sort of getting their feedback and what to expect in the service. now anyone who goes to phoenix can download the app and they take a ride and the car shows up, it's completely empty. it's one of our chrysler minivans in san francisco, they have our fifth generation driver in them. we still have the autonomous specialist behind the wheel and so san francisco residents are now having the chance to have this experience where one, we have this one mom, who she's lived there for a long time, b

we're seeing reply chain effects that we have never seen before i was looking at this quote from the daimler -- hopefully we're going to work our way back, but it's going to take a long time. you have a supply chain that's dependent on not having any specific events like weather or hurricane, or whatever else pops up normally there's some plasticity in the supply chain, but right now it can't simply afford surprises. >> i do want to say costco, home depot, lowe's -- >> well, let's -- carl, of course, will continue to be at code sharing -- go ahead, carl >> i was just going to say, i noticed on the tape this morning, 150,000 seasonal workers at walmart it will be interesting to see where they find them >> it really is. though we didn't talk about the amazon astro here's a review, would almost certainly throw itself down the stairs they keep playing that darn music every time i have something interesting. what is that about >> we've had enough. they don't want to hear from you. >>> as we head to break, we don't have to hear from jim anymore. [ laughter ] let's look at how markets are faring th

for more on the housing front bring in zil row president susan daimler. that >> yes thank you for having me. great to be here we are what the data is showing is moving from what was this white hot market to a red hot market and you said some of the signs we are seeing inventory rise month over month for four months see home price appreciation cool down a little bit and good things these are signs that there's this healthy rebalancing coming. basically making the market more sustainable and giving optimism to buyers and much-needed relief but the red hot market is still there. total home sales in 2021 will be more than 2020 in 2020 they were 15 times higher than in the past. >> i'm sure that you are aware that zillow's eye buying service to buy homes from sellers has come under controversy with some accusing zillow of artificially increasing the market rate for homes and then in turn making more money as more homes sell at the accelerated value. what is your response? >> the whole goal of zillows offers is to buy homes at market rate and then sell them and