in regards to what dany cotton just said, in light of the report, i think dany cotton should take a lesson are lessons to be learned because there are still people living in high—rise buildings who actually need help. it is important that lfb takes lessons learned from this report and not see it as points to defend themselves from. i'm going to pause there, i‘m so sorry, we are coming to the end of the programme andi coming to the end of the programme and i want to end our programme by hearing from this. at that moment, we felt like our hearts had broken. the most wise and eloquent girl i ever knew. isaac made us very happy. he was my spitting image. he was my little man. there is a gaping hole in our hearts that can never be filled and it hurts. they were beautiful, glorious wonderful years, filled with happiness, love and laughter. i adored her. i wanted to hug my dad, hold him, feel my dad, hold my dad. there will be two empty chairs on the table for every birthday, christmas and new year‘s but they will forever own a position in our hearts. good morning, conditions today similarto good

dani burger has the latest. fund this past month when values started to gain in favor of momentum, it did very well. we can see how well it did when we look at its individual holdings. are his biggest convictions. these are value stocks. house gained nearly 50% in september. those did well for einhorn. big shorts also paid off. he shorts big growth momentum names. amazon and netflix among them. they fell in september, adding to those returns better than 8%. strategy einhorn's hurt them, they tumbled last year into double digits, 34%. is this start of the reversal that will help him? last month, you can see values topping the leaderboard at 12%. momentum falling 10%. while this hurt most hedge funds, a deep value fund does well. take one day, it looks like the reversal has stopped and we are back to normal momentum. value sinking near the bottom. einhorn did well in september, but considering these returns, his luck might have run out. very much, dani burger, looking at factors to watch. you can get that on the b

i don't think dany cotton at london fire. i don't think dany cotto n ca n at london fire. think dany cotton can ever come back from the comments that she made at the inquiry about how she wouldn't change a thing. london deserves better, quite frankly, and so to the victims of the fire, and so do the firefighters themselves, because, you know, we also have to consider the fact that london fire brigade is an employer, and it needs to be looking after its employees, and at the moment it's not. it has failed them horribly. unfortunately for us, them horribly. unfortunately for us, the consequence of them failing their employees is death, given high criticaljob their employees is death, given high critical job those their employees is death, given high criticaljob those employees undertake. so if any service needs to be looked after, it is the front line emergency services, because we will all be very grateful for that fa ct if will all be very grateful for that fact if and when we ever come to need the use of any of them. you wa nt need the use of any of them. you want decent

let's get to our top stock stories with dani burger in london. dani: the earnings roll on.biggest gainers in the stoxx 600, training -- trading at the most in february. third quarter, beating expectation and sales doubling. citigroup says those numbers are positive. you are seeing some day in -- downside for reckitt benckiser, down nearly 5%. there is a new ceo but they have lowered their sales forecast. flu medicine for in the u.s. and baby formula in asia. a cut by morgan stanley saying shares might have done better after thomas cook uncertaintyd less from brexit but due to the 737 max 8 rounding, their 2020 full-year outlook is expected to be below consensus. matt: dani burger, looking at a couple of stocks on the move. group isthrough -- looking to move, as well, taking a controlling stake in wework. the bailout would value the parent company at $8 billion. that is a far cry from the $47 billion valuation that wework secured in january. the shared space office company had a junk debt package on offer from j.p. morgan. the question is, which one takes it? joining us is b

there are calls for fire chief dany cotton to resign.er of the london fire brigade takes ownership of those failings. boris johnson and jeremy corbyn set the tone for the december election in the last prime minister's questions before the country goes to the polls in six weeks' time. leadership means standing upfor weeks' time. leadership means standing up for the people of this country, standing up for our police, standing upfor our country, standing up for our police, standing up for our nhs, making sure that it gets the funding that it needs. people have a chance to vote for real change after years of conservative and lib dem cuts. privatisation and tax hand—outs for the

there are calls for fire chief dany cotton to resign. the report 110w dany cotton to resign. the report now shows in black—and—white what we already knew, so it is time that the commissioner of the london fire brigade takes ownership of those failings. boris johnson and jeremy corbyn set the tone for the december election in the last prime minister's questions before the country goes to the polls in six weeks' time. leadership means standing upfor weeks' time. leadership means standing up for the people of this country, standing up for our police, standing upfor our country, standing up for our police, standing up for our nhs, making sure that it gets the funding that it needs. people have a chance to vote for real change after years of conservative and lib dem cuts. privatisation and tax hand—outs for the richest. and six years after the helicopter crash onto the clutha pub in glasgow, killing ten people, a report says pilot error was to blame. ina in a moment, sportsday, but first let's ta ke in a moment, sportsday, but first let's take a look at what else is coming up this

let's get more with dani burger.trategy behind this has been fidelity needing to keep up with its competitors. it is known as a brand that offers cheaper products and trading. but you could almost think of it as an advertising fee, a marketing fee. brokerages are slashing their trading commission's so they can get more assets to make up for it. but when everybody is doing it, you essentially have a level playing field, so it's hard to see any sort of bump from that move. today,y announced this offering higher rates on cash accounts. that's likely the next frontier. what does this mean for the money managers who brought up those commission free platforms? dani: previously, if you were an etf provider, you want commission free trading blackrock had a deal with fidelity where their products traded free of commission on fidelity. it was one of the most exclusive arrangements of its kind, but now we have a level playing field. all of the competitors also get to trade commission free trade that means competitors like vangu

here with factors to watch is dani burger.s week it was about momentum coming back in full force. over the past week, factors globally, momentum posting return up to present, and momentum and growth are doing well. we see values fall, they did well in december and now it is starting to lag. cheaper stocks in the value bucket. this has been one of the fastest resurgence is of momentum in history. when we see that, we see a lot of volatility come into the market. let's look at other calls that strategists made this week. bernstein said the calls for value to be dead is not true, value can have had return, but look out for companies with good free cash flow. that is the value metric they look for. nomura says it is about growth, and that will be to the detriment of value. jefferies says value is going to continue its september rally. look out for this to happen in small caps. matt: very interesting, dani burger looking at the factors to watch. coming up, is there a light at the end of the tunnel? u.k. and irish leaders indicate a

brigade commissioner, dany cotton, is personally criticised.e that she would not change anything about the response on the night showed remarkable insensitivity, and suggests the fire brigade is at risk of not learning the lessons of grenfell. the report also concludes the cladding on the outside of the building failed to comply with regulations. the second pa rt comply with regulations. the second part of the enquiry will investigate the failures of the building materials and refurbishment. the london fire brigade said it will be inappropriate to comment until the full report is published tomorrow. this is the briefing from bbc news. the latest headlines: the british prime minister, borisjohnson, has failed to get the two—thirds majority in parliament that he needed for a snap election on december the 12th. he is now going to resubmit his proposals in a different form on tuesday. 0pposition parties are divided on how to respond. firefighters in california are battling a wildfire blazing near the wealthy suburbs of los angeles. about 10,000 hom

dani burger has the details. dani: everything is at a standstill. it is so highly anticipated. trade war, the manufacturing recession, that is turning to permeate the american economy. withe companies struggling a shrinking pool of qualified workers. all of those forces together, it means it has pushed down the median estimate for private jobslls to just 130,000 added last month. the last time we saw forecasts this low, hurricanes had slammed the country in 2017, businesses had temporarily closed. or we go to 2013, and this was during a government shutdown. aside from these two, you have to go back seven years to find a projection as weak as heading into this reading. it has been manufacturing that has been the hardest hit. this chart is the three month rolling average. you see how much that has fallen. the question looking at this data is has this weakness spread more broadly into the labor market? already, it is pricing in about an 80% chance of a cut this month. a cut this month. let's say the jobs data comes in weaker than predicted. the probability could shoot up to a near

dani, let's get to you.llar, it is sitting at the top of the charts in terms of weakness. the tilt is definitely a devilish cut -- dovish cut. dani: as you say, it is topping the gmm chart. that 25 basis point cut was baked in. again, as you have been hitting today, the dovish tone took markets by surprise. aussie dollar now the weakest of g10 currencies, down nearly 0.5%. you can see the dollar strengthening from key u.s. data out later today. some of the haven currency is falling. when we look in the commodities space, we see crude gaining about 0.8%. markets right now weighing the upstart, the restart of saudi arabia's oil fields fields along with improvements in trade. with china closed, the most interesting market to look at right now is japan. you can see what sovereign bonds, what the 10 years are doing right now. extreme pain with a year yields up about six basis points. the 10 year sale that we saw today in japan is interesting. this 10 year sale was very anemic. the bid to cover ratio was 3.4, the

here with the weeks moves is bloomberg's dani burger.aw this week in , ators is a continuation slow-motion continuation, of early september. that being that value gains out. the mirror opposite, momentum. the most love shares falling in favor of cheaper stock. this has to do with rates. they are highly correlated with the bond market. what we see in this factor breakdown might also be signs that growth momentum in the global markets is looking more positive. we see a lot of risky factors doing well. even volatility gaining for the week. signs that perhaps some positivity is coming back into the markets, despite some hiccups when you look at the wider index level. bank of america says this action looks like a cycle that is turning from a downturn into an early stage cycle. they say that in that environment, what you want to do is add to our value portfolio over growth and momentum factors. they know this is the trickiest part of the cycle so expect volatility from here. got calls from morgan stanley's saying there is likely to be a correc

dani burger has been looking at the details. dani: starting with the biggest movers. one is jvc.nline gaming company, raising its full-year outlook saying even though comps were tough given the world cup last year, ahead of expectations including the u.k. we television. seeing peers like william hill rising. prices at over a 2% gain, trading at a one-year high. away.com said third-quarter orders were up 87%. rbc said the results were a touch light but there is a clear route to profitability. gam, trading to the downside nearly 2%. they confirmed reporting they are no longer in talks with suitors. that includes generale. deals toed about m&a happen but now they said they will focus on the business as a standalone company. matt: thanks very much for that. dani burger, looking at movers. pimco has been weighing potential threats to the global economy. manny roman says a hard brexit is better than the current situation of limbo. he says the trade war could push the u.s. into a recession. he spoke exclusively with bloomberg editor-in-chief john michael's light -- john micklethwait. >>

let's go to dani burger and talk about the individual ones. dani?re talking just before the break how some are gaining, and one of them is airbus, up more than 3%. morgan stanley is giving a little bit of insight into why this is rallying, and specifically airbus, the u.s. putting an additional 10% tariff on goods there, but morgan stanley said this was actually the most benign possible outcome, still a lot of ounce -- downside risk baked in. h&m, they have had their first quarterly gain in two years, so a turnaround for h&m, which has really been struggling with the rest of the retail sector. it looks like they are making some pretty solid progress and getting rid of their extra inventory, but the same is not true for ted baker, falling today about 30%, trading on a 2012 low. eyave warned of a possible slowdown. this is i shift to online shopping. they -- this is a shift to online shopping and saw the resignation of their founder, so all of that is turning into a pretty big warning from ted baker. anna: thank you very much. that's get to one of the

dani: you are speaking of that european index.we know is how cities perform during times of crises. in 2009don for example, it fell from number one to number eight in europe but by 2010 it was number one again. and same with the european referendum. in 2016 and was number one again in 2017. we don't know what the aftermath of a no deal brexit will entail given the politics but what we do know is that london is incredibly resilient. dani: how much is that popping up the --propping up the current market? since it has fallen away 2018 and a lot of that is due to brexit despite it being a weak currency. thelso note given attractive incomes that real estate offers and the likeparency that somewhere london has in terms of its global status, there are accused of investors waiting to go at the right time. tech you mentioned matters. a rise of these kinds of spaces. trends areorking here to stay regardless of the companies that stay for the long term. as investors in buildings, we have to understand how to work with that kind of tenant or

nejra: bloomberg's dani burger.tastic roundup, and coming up, the ceo joins us in the studio for the first interview of the day after the third quarter results. when traveling to work, tune into bloomberg radio, live on your mobile device or dab digital in the london area. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe." i'm nejra cehic in london. let's get the business flash with oanh ha in hong kong. oanh: tesla shares jumped after a surprise profit, exceeding the most optimistic estimate by a wide margin. earned $1.86 aer share in the third quarter. consensus was for a $.26 loss. -- point in china is already starting production and the model y crossover will start earlier than planned next year. >> not aware of any factory of this magnitude in history being construct to do in such a short. time of approximately 10 months. and theunprecedented factory in shanghai will become a template for future growth. y's inbuilding model shanghai, and a factory in europe. oanh: a $1.5 billion hit last quarter

today, the head of the fire service, dany cotton, personally apologised.er and london fire brigade are truly sorry we could not have saved everyone's life that night. the commissioner was criticised for her evidence in the inquiry when she said she would not have done anything differently that night. the report now, in black and white, shows what went wrong. so it's time the commissioner of the london fire brigade takes ownership of that, of those failings. the report says important steps must be taken to improve fire safety without delay. and it calls on the government to develop new guidelines for evacuating high—rise residential buildings. the government will be accepting all of the recommendations of the judge, sir martin moore—bick, in this first phase in the inquiry and we want lessons to be learnt urgently. families hope today's recommendations will help to bring in changes that could save lives. and this inquiry has some way to go yet. next year, it will consider questions on the cladding, building regulations and the role of the council. and there

my own personal view of dany cotton is that she needs to be dismissed from her post.inute, as survivors and bereaved looked on at the politicians they feel let them down. they asked for the truth, we promised them the truth, we owe them the truth. and, today, the whole country, the whole world, is finally hearing the truth about what happened at grenfell tower. the shameful fact is, mr speaker, that feet have been dragged, the exact same cladding is on similar high rise blocks, sprinklers have not been fitted, thousands of people will go to bed tonight and tomorrow night not feeling safe in this country. this tower, a devastating testament to the companies which made the cladding, the authorities that allowed it to be put on, and the fire brigade who saved some, but failed others. our special correspondent lucy manning is here. lots of people placing a sharp focus on the fire brigade today, given what was said in the report, and some people taking a very strong view that the fire brigade are being scapegoated in some way. what is your reading of it? well, there are ce

the london fire brigade commissioner, dany cotton, has rejected calls for her to resign from survivorsower fire, but she has expressed her deepest sorrow at not being able to save more lives. 72 people died in the tower block fire in june, 2017. our special correspondent, lucy manning, reports. and a warning, some viewers may find some of the images in her report upsetting. myfamily... here are my family here. why, why? they die, i cannot sleep, always crying. the last thing i was hearing from my aunt was, "where are the firefighters?" and i rest it at that. "where are the firefighters?" i pray every single day, since the tower, to die sooner, because i have no meaning of my life. and they do not want to become a political football... no enquiry can comfort them. no blame brings them back. n0 warm words ease their harsh reality. grenfell was a national tragedy, but their deeply personal one. el—alami hamdan lost his daughter, her husband and their two children. leena, six months old, died in her mother's arms. why, why? this is our families. i not come in here just to pass the time. i

the head of the london fire brigade, dany cotton, has rejected calls for her resignation from survivorsfell tower. she expressed her ‘deepest sorrow‘ for not being able to save more lives. 72 people died in the fire in west london in june 2017. a report following the first stage of the public inquiry criticised the london fire brigade for ‘serious shortcomings‘ in its response. the inquiry‘s chairman said the absence of a plan to evacuate the tower was a ‘major omission‘ by the brigade. and he said more lives could have been saved had the policy of asking people to ‘stay put‘ in their homes been abandoned sooner. our special correspondent lucy manning reports. viewers may find some of the images in her report upsetting. baffling myfamily... here is my family... why, why? they die, i cannot sleep, always crying. the last thing i was hearing from my aunt was, "where are the firefighters?" and i rest it at that. "where are the firefighters?" i pray every single day, since the tower, to die sooner, because i have no meaning in my life. and they do not want to become a political football...

dani burger talking about the rotation. let's get the bloomberg business flash now. that we go to hong kong. >> u.s. auto sales took a big step back in september. nissan, toyota, and honda saw double-digit lumps. it suggests overall deliveries could come in worse than the estimated 12% drop. fears that a car collapse could be coming. we will get the picture as g.m. and ford report. hasit suisse chief thiam broken his silence. he praised the outcome of the spying probe saying full red spots billet he has been -- responsibility has been taken. credit suisse declined to comment on the vote. charles schwab has triggered an online brokerage lead bath after the market leader said it would eliminate commissions for u.s. stocks, etf, and options trade. the stock split almost 10% with some competitors tumbling as much as 26%. the move escalates a long simmering price war as investors move to cheaper products. norway's trillion dollar growth fund is getting the go-ahead to sell $6 billion of oil and gas stocks. it initially wanted to dump all of its petroleum investments. deci

dani burger joins us with more. >> you said it. it's hard to remember a more highly anticipated job report than the one today. the trade war and manufacturing recession are stirring to permeate throughout the economy. already we have companies struggling. these forces have really pushed down the median estimate for private payrolls to a gain of just 130,000 for the last month. to see the last time that forecasts were the slow, we have to go back to when hurricane slammed the country in 2017 and close businesses, or we can go back to 2013 during a government shutdown. outside these months, this is about to be the weakest projection in seven years. this is obviously problematic when it comes to the fed. we have to remember manufacturing has been the hardest hit. we see weakness of that reading in employment. this is a three month rolling. we can see it as its lowest since 2016. the question is going to be is it going to spread into the wider labor market? that has caused traders to price in an 80% chance of a cut this month. job data

for that, we go back to dani burger. dani: certainly one of the things carrying over from the u.s. now into europe is chip stocks underperforming. stm micro falling. ams infineon in. this has to do with texas instruments giving and outlook downgraded, saying demand is not there. shares now down 3%, even after yesterday. amf had a better than expected earnings report. this bellwether, texas instruments, dragging down the entire sector. swedbank also falling today. they reported earnings, making clear that third quarter costs associated with scandals over alleged mishandling of suspicious transactions is following them well into 2020. they said the ecb and u.s. is probing them. the u.s. probe might take years to complete and this year, they saw $103 million of costs associated with that. also missing estimates on quarterly results. good news on abb, even though results had missed analyst estimates, orders dropping, seeing some weakness, especially in the auto sector, but they are saying margins were strong and that is all despite the really weaker macro backdrop. they liked what they

pasado y primera derrota en la liga y cerramos la cárcel atasco de madrid en la sentí uno apagan a danitodos y de zurda ganaba 2 x 0 mánchester city en contra de liverpool en la tabla . >>> ya regresamos >>> ya existe una aplicación para cobro de suscripción en línea, reforzarán la seguridad en sinaloa y el cuerpo de una mujer atada de manos y pies y el le diremos dónde en noticieros del mundo 48, el evento se llevó a cabo en la plaza imágenes que ven en pantalla con unas altares con ruido la parte trasera y esta celebración inició al mediodía y terminará a las 8:00 de la noche, el mundo 48 vemos este evento comunitario que hubo música y mucha comida . >>> estuve ahí y hubo mariachi todo perfecto . >>> esperamos a las 11 muchas gracias . (mÚsica) test test test test te ♪. ♪. >>> altos con cristales rotos, sangres, muros con impact de balas, en culiacÁn quedan las esquirlas del tiroteo. la ciudad intentavoer a ocurrir. buenas tardes, nunca antes culiacÁn c vo una crisis se convirtiÓ en una crisis de comunicaciÓn y ahora se convierte en una crisis polÍtica para el presidente

dani, let's bring it to you.said, the whole world was for sale yesterday, and my exuberance for the u.k., and the eu, the discontent -- dani: yes, and this is another day that we are seeing this, manus, like yesterday, when we had disappointing manufacturing data from the u.s., today it being other data. this one beacon of hope, the u.s. being steady, it looks like there is some weakness spilling across the different sectors, so asia really catching that cold. essentially the entire equity index column is in the red, being led downwards by australia, declining more than 2%, as well as japan, the yen also affecting that, a one-week high, and we are seeing bonds pick up again. save havens, the interesting one being japanese 10-year yields, which previously shot up, but now, declining as global growth worries come back in. i want to concentrate on what u.s. options are looking like, because it will give us a good idea if u.s. markets are, indeed, what is leading in this scenario, what is to come, and i am looking at

—— graham satchell asked dany cotton. for that matter, the prime minister, who was previously in charge of the london fire brigade himself, because. really good to speak to you, match rack, the general secretary the fire brigades union. we will continue talking about that, because the actual report, some of which has been leaked, comes out tomorrow morning, and there will be subsequent inquiries looking at things outside of that night. carol's at westonbirt arboretum in gloucestershire with this morning's weather. good morning. good morning. it is gorgeous. look at that aerial view, it is beautiful, all the autumnal colours. we had greens, reds and yellows. but it is also a cold start to the day. a frosty starter for many parts of the uk, and we are looking at lots of dry weather with some sunshine. but there are showers and also some rain too. we have showers scattered across the north and east of the uk and also some rain coming in across the southwest. through the day, that will be accompanied in the south—west by stro

this local football pitch in cameron's capital young day football has become a form of therapy to do dani whose leg was amputated in 2006 after a car accident. i saw some of that is going to be if you do sports with football. right then i have never known or i'm pretty football so i joined in the sport so our time goes on i begin to discover that is what is killing me help me. keep me disproof people that. people will think i'm not able i see that now believe. me i'm here while you complete football so in motivates me given some joy. and you don't a and his friends have since formed the country's 1st national amputee football team with the hope of representing cameroon at international tournaments donald markwell who used to play in a local football league before he was paralyzed in an accident is their coach. on accuracy. gets. and depending which is the most requests are yours ours was our next toward him to win a game you need to go off and see more offensive than me depends if you have. i shoot into i'm trying to see if you can. get to where you want to be and i and that top level. in

university student danis with her today for the 2nd time the chinese government has made improving the environment one of its key goals but it keeps a tight lid on discussion how we became concerned about the environment after reading an article about plastic waste in the ocean. oh i know joe i started really worrying that such a big problem wasn't getting enough attention and nobody would take action. i was terrified every time i thought about it sometimes every 10 minutes i couldn't concentrate on anything anymore radiations all those associated china's rapid development has taken a huge toll on the environment the country is now the world's biggest emitter of greenhouse gases air quality is one of people's top concerns but eco activism is rare in china's repressive political system. the 16 year old student has now been striking for 4 months the parents are worried about her future but she has no intention to give in to their pleas to stop skipping classes you are showing you the climate crisis is the biggest crisis ever for the existence of mankind. everybody should do everything th

dani babb. were. a.that is a very mirror film it is yours she averred vicious if it was a little less all fed to the needy bears the i pray you had to deal guess your loss . bargaining that has taken on a new dimension. and. parity is now being used for political leverage as a bargaining chip between states. the status of antiquities has changed once thought of as part of the heritage of all mankind cultural assets are now being held hostage by armed groups and used by states for narrow nationalist political and economic agenda as. action is needed by imposing tougher rules recognized by all through international organizations cultural heritage may regain its true place in our societies. most a kick in missions across much of the middle east has been some cloud bubbling up in the house to the east end of the mediterranean but no real rain with instead some failed to win so not helping the firefighting efforts this is in lebanon this is just to the south of beirut so the winds a fight against at times art

my own personal view of dany cotton is that she needs to be dismissed from her post. 0n the grenfellereaved looked on at the politicians they feel let them down. they asked for the truth, we promised them the truth, we owe them the truth. and, today, the whole country, the whole world, is finally hearing the truth about what happened at grenfell tower. the shameful fact is, mr speaker, that feet have been dragged, the exact same cladding is on similar high—rise blocks, sprinklers have not been fitted, thousands of people will go to bed tonight and tomorrow night not feeling safe in this country. this tower, a devastating testament to the companies which made the cladding, the authorities that allowed it to be put on, and the fire brigade who saved some, but failed others. we have much more on the grenfell tower enquiry on our website. it is nearly two in the morning, that is it from me. let's catch up now with all of the weather news. hello. south—western reaches of the uk have had relentless rain in the last couple of days. cornwall, the channel islands and devon. the prospect for t

delays its decision on a briggs it extension chief brags that negotiator michaud dani and you and batters agree that an extension is needed but not on how long it should be. meanwhile tempers flare between supporters and opponents of gregg's that as the process drags on some lawmakers have received death threats. also coming up confusion at nato the military alliance struggles to find a common voice as the u.s. says it may send its troops back into northern syria after pulling them out earlier this time. i'm serious so misconducts good to have you with us the u.k.'s exit date from the european union has been delayed yet again but it's unclear for how long britain was set to leave the e.u. in just under a week's time but a recent vote in the u.k. parliament against an ambitious braggs a deal schedule made that deadline impossible to reach even basters have confirmed that there will indeed be an extension but said a decision on a new exit date won't be reached on till next week some are advocating a shorter extension to encourage the u.k. parliament to continue working on passing the withdr

dani daniel ackett and others who want to get behind this approach that's more appealing to those inmmunity. >> got it. what do you know about the effort specifically to add the fund raise to the direct listings process how far out is that? are you talking to those people? >> i have not been directly involved i spent the past six weeks working on this event so that he would could all come together and share information. i think the thing we'll continue to do is stay organized in this way vm several investment banks are helping with this, telling accounts that they also believe in direct listings and we want to get behind the people that are behind that movement >> bill, morgan here do you think things would have gone differently if wework it taken the direct listing approach do you think they could have even done that >> once again, this is a movement that we're trying to solve a problem that we first recognized 20 years ago. this is something i hope will be a part of my legacy that i can give back to silicon valley by moving us away from this thing that has not been in our companies

payrolls data where dani burger has more. dani: it is really hard to remember a more highly anticipated jobs report. the trade war manufacturing thession is permeating to american economy and already companies have been struggling with a shrinking pool. what we get is a push to down a medium estimate for private payrolls to a gain of 130,000 last month. in 2017mmed the country temporarily closing businesses. or we can go back to 2013. willesides those two, this be the weakest projection in seven years. in manufacturing, it has been at the heart of some of these this chart here is a rolling three month reading. has the pain from this spread more broadly into the labor market? already, the fears of that has started to take the form of traders pricing in an 80% chance of a rate cut. so let's say the jobs data comes in even worse than expected. that could change the probability to a near certainty for a cut. and perhaps again in december. happens, that would completely reverse all four hikes in 2018. francine: dani burger with so

dani burger has more. what was behind that failed auction? dani: it all has to do with kuroda's plans to steepen the yield curve. those have been stiff enough to really alarm investors. auctiony poor bond came in at the worst since 2016. the reaction was swift. futures selloff the most since 2016. the cash market, once it opened, yields spiked. then we saw a reaction, as well as spill over in treasuries, so we have investors starting to trade on this narrative that they are going to shift from bonds into stocks. we have the boj buying more etf than bonds, most likely. they have signaled they will slash some of their purchases. they really have a boj stamp of approval here with kuroda sounding alarm about how low yields have gone, so those plans to steepen the yield curve very apparent in this auction. alix: thank you so much. finally, we come to d.c., where the impeachment inquiry deepens. giuliani, secretary of state mike pompeo, and attorney general william barr are all drawn deeper after allegations of the administration's contacts emerged

dani, what's the story on bang and olufsen?ngw ceo, hendrick claessen, with shareholders tiring of the slow pace of turnaround. they reported two consecutive quarterly losses earlier this with the newhaps leadership and how cheap the stock is, we will see if they can get a pop this morning. anna: thank you for joining us with the stocks to watch. get all the stock stories on the bloomberg mobile app. keep an eye on nordex, acciona, an interesting deal. and the lse. the open is next. ♪ anna: one minute until the start of cash equity trading. i am in dublin, keeping an eye on the latest on brexit news. annmarie is back in the studio holding the fort. annmarie: have to kick it off with the csi this morning. china back from the golden week holiday, the csi up 0.6% even with eight major tech firms being blacklisted by the u.s. government. china digesting a lot of news after the week on holiday, including a pretty decent omi number -- pmi number. euro-dollar higher today, with surprising improvement in german industrial production. o

dani burger, what are you looking at?we are seeing a slow-motion repeat of what we saw in early september. we see the outperform momentum. the cheaper sox outperforming the most popular. this has to do with rates. both are correlated with the bond market, especially value. is positivity about global growth as well. we are seeing more risky factors like value, leverage, even volatility, in the green this week. according to bank of america, this is likely to continue because what we are seeing is the end of the late cycle, of the downturn, entering an early cycle. there call for the week is to thisto value overgrowth was the most tricky part of the cycle. morgan stanley also note these factors, the correlation is rising, which means there is more volatility to come. they say there's going to be a correction in the momentum and lowball factor. saying we ever core have this backdrop of a big cyclical rally. trade is looking better from corporate earnings. they say there was risk on factors, volatility, value, that is where yo

the london fire brigade commissioner dany cotton has rejected calls for her resignation which have come the grenfell tower fire. but she has expressed her "deepest sorrow" at not being able to save more lives. 72 people died in the tower block fire in june 2017. a report following the first stage of the public inquiry has criticised the fire brigade for "serious shortcomings" in the way it dealt with the fire. the inquiry‘s chairman said the absence of a plan to evacuate the tower was a "major omission" by the london fire brigade and more lives could have been saved had the so called "stay—put" policy been abandoned sooner. our special correspondent lucy manning reports. and a warning, some viewers may find some of the images in her report upsetting. y? y? the last thing i was hearing from my aunt was where are the firefighters. and i asked the same, where are the firefighters? since the tower, i have no meaning in my life. no inquiry can comfort them. nothing brings them back. no words ease their harsh reality. grenfell was a national tragedy but for them it was a deeply personal one.

dani: that is a wild thing, chinese equities getting today. a week of trading to catch up to in a lot of people suspected they would fall on the first day just because we had global growth concerns last week. would china start with big -- start with a decline? being ledn asia are by japan currently, which is up over 1%. when we look at foreign exchange were also seeing the yuan higher, it's the first day of you on fixing at basically the same level as of september 30. we are seeing gains. , theussie dollar unconventional policy might be op-ed, butn an generally we are seeing moves we would not expect given the blacklisting of the company. this seems more like a risk off day, a risk on day rather. seeing some of the treasuries, the 30 year yield under pressure marchedn 10 year yield further. in another sign markets don't seem to be taking much risk on, i'm looking at euro-dollar risk, the most liquid trading pair in the fx world, and when we look at risk reversals, across various tenors, we have one year and 10 year and one month as well, they

dani burger has more. tell us where we are. dani: this race to zero, this fee slashing, is nothing new. the asset management industry has been under pressure the past two years to reduce fees, so race to zero isn't new, but perhaps what is new is that schwab may have finally won. shareshing that, plunging. the strategy behind this is getting to economies of scale. they figure by having lower fees, they will attract more assets and more interest earned, but it is a really risky bet considering the current environment. with interest rates as low as they are, it is much more difficult to turn a profit that way. only 7% of schwab's net income came from fees, so perhaps they can afford to take that risk. someone like td, on the other hand, more than 1/3 of their net income comes from fees. according to morningstar, schwab needs to get $20 billion worth of assets brought in from this move in order to make up for the loss of fees, so it certainly is a tall order. alix: thank you very much. finally, here in new york, u.s. manufacturing

anna: let's get to dani burger on the spanish banking sector.of the argentinian election. how will that play out? with focus onk argentina will be in focus. alberto fernandez popped the pro market candidate, and that is likely to make markets move down. it is down two thirds of its locally listed unit. they own 43%. they are likely to see a messier earnings as they report later this week, given the hyperinflation in argentina. matt: thank you very much for that. annmarie, thanks for joining us. you can get all the stories by on thefirst terminal. coming up, it is the market open. we have futures mixed. u.s. futures are higher. it could be a risk on session. this is bloomberg. ♪ eÑ >> a minutes ago before the start of the cash equity trading. market the european let's get to anne-marie with the market set up. annmarie: we have central banks, earnings and a lot of data coming out and political uncertainty around the world. in asia, the markets are relatively calm. we are also seeing s&p 500 futures higher. this after the s&p 500 friday tradin

back to -- thanks to tom, dani and annmarie.loomberg, we had numbers out of shell. and they came in at better than the estimates. but risks to the buyback time frame. and seems to be the headline that many have focused on. we just talked to london and their numbers the -- better than the highest estimates and how will they react to that investment in norwegian hydropower? sanofi better than anticipated. and carlsberg in the drinks sector sales better than estimates. and an increase in guidance from delivery hero. it does seem like we're getting a little bit more upbeat news flow surrounding the earnings season. although, you know, we -- these -- the estimates that we're judging them up against, move around a little bit. before the earnings come shall we say. matt: and let's remember that markets can read these things a little differently as well. yesterday we had santander and credit suisse both beating the street's estimates and the shares cratered throughout the trading day with deutsche telekom. so we'll watch this as well as

dani babb. were. a. the date is on t.v. in film it is yours she averred. it was a little as all fed will do you need a buzz the i pray you had to deal guess your loss. bargaining that has taken on a new dimension. and. parity is now being used for political leverage as a bargaining chip between states. the status of antiquities has changed once thought of as part of the heritage of all mankind cultural assets are now being held hostage by armed groups and used by states for a narrow nationalist political and economic agenda as. action is needed by imposing tougher rules recognized by all through international organizations cultural heritage may regain its true place in our societies. there are many seasons in the u.s. so it seems at the moment there is snow as far south as colorado in fact and this is denver the tension in denver dropped from 28 on thursday to bind us 9 on friday that is one huge change and you can see where the snow came in and that's also prompted the santa ana winds in california which doesn't help very much with the fires you've got a

load and dani's not quite sure but then not sure down we'll stand here as splendidly as before and i hope they will live to see it. if you're swimming in the mediterranean and you feel something to clean your feet it's more likely to be a plastic bag than a turtle the sea is awash with plastic the world wildlife fund says the equivalent of some of the $34000.00 plastic bottles go into its waters every minute and it's only fishermen like gianni kohli are taking action to clean up the sea that sustains their livelihoods under a new initiative italian fishermen are now permitted to take waste on board for recycling our reporter took to the seas with the fisherman who moonlight as garbage men. it's the daily morning shift at 4 o'clock janica allele and his boys go out to see. the congolese have been fisherman for generations but for how much longer nobody knows. what any other fish tank has somewhat recovered but i'm fortunately there is a lot of plastic because many people go pleasure boating near here that markets are only going to be more recent years we fished a lot of plastic out of

the london fire brigade commissioner, dany cotton, is personally criticised. her evidence that she would not change anything about the response on the night showed remarkable insensitivity, and suggests the fire brigade is at risk of not learning the lessons of grenfell. the report also concludes the cladding on the outside of the building failed to comply with regulations. the second part of the enquiry will investigate the failures of the building materials and refurbishment. the london fire brigade said it would be inappropriate to comment until the full report is published tomorrow. our special correspondent lucy manning reporting, there. the general secretary of the fire brigades union matt wrack accepted the scrutiny of the london fire brigade, but said government ministers need to take responsibility forfailings too. you find that grenfell tower there area you find that grenfell tower there are a whole list of failings of fire safety provision within the building, so firefighters operate on the basis that the assumption that the basis that the assumptio

bergeret a look -- dani covering orange, annmarie hordern on commerzbank.k after announcing a new strategy? annmarie: announced it a month ago, and many said it wasn't ambitious enough, but the earnings quite strong, beating net income and operating profit, both exceeding analyst estimates. shares are likely to rise at the open. matt: joe, a story on byers dorf? what is it -- beiers joe: currently guiding for growth around 1% to 2%, below the 3% to 4% protected previously, largely coming from the automated unit facing macroeconomic uncertainties. shares could fall a few percentage points. anna: dani, orange? pricesrange seeing recover despite weakness in spain. they are heading for their second quarter of sales growth, and shares higher just about 1% today. matt: thanks very much for joining us. the latest stock stories by putting first go on the terminal. this is bloomberg. ♪ anna: a minute until the start of cash equity trading, welcome back, this is "bloomberg markets: european open." how the market is position. ,sci asian-pacific up by 0.5% making gains

london is bloomberg's dani burger.ies started today by outperforming asian peers, in part thanks to tech stocks recovering after yesterday's fall. is that the assessment? >> you. good morning to you. there point 25% higher in trade, unlike yesterday because one of the large indian i.t. companies is facing decoupling. and came to light yesterday yesterday, the stock react down 15%, to highest fall in the stock in a long time. it had a telling impact on the market. indian markets were down yesterday in trade but rebounded after the 15% correction yesterday, up marginally today. poorly in the rest of the i.t. pack. we need to see if this lasts during the day because it is a telling time for tech leaders. nejra: huge week for company earnings. we've got something like 20% of the s&p 500 reporting. what reaction are we seeing in equity market so far? dani: the earning story that has captured the imagination of markets has been texas instruments, and concern we are seeing trade bite on chipmakers. we see it is china falling

. ♪ >>> right now on "california live," dani is one-on-one with common. >> with all of the negative going's focus on the good. let's focus on what we can do as people. >> then malou is in the bay with tips to beat the blues. >>> and how to keep your hair and boost your confidence. it is tuesday with dr. tess. >> i can stop your hair loss. >> and i'm living proof. >>> plus nickelodeon star is all grown up and directing his own new movie. >>> and kim is taking us to the secret place where stars go pumpkin picking. >> we're at mr. bones pumpkin patch and this is literally the most fancy pumpkin patch i've