here is dani burger. dani: suez is one of the stocks to watch.ia has been trying to create a french environmental services giant by buying it out, but the suez ceo has rebuffed the offer, saying it faces possible antitrust scrutiny, but more importantly saying the offer undervalues the company, specifically calling it opportunistic because the company shares have been hit by the pandemic and that has masked the success of its turnaround plan. veolia is still trying to buy a steak for the company, and one of the ways it will do it is buy ng, which the ceo of suez says we have scenarios in the work to avoid this. another stock to a watch is ab foods. after the fourth quarter, sales of its food business and primark have beaten expectations. the news coming from primark is the basket size is still very large. even though there may have been pent up demand from the pandemic, it looks like that is still carrying over and will likely make investors very encouraged at this point. finally, the last stock i have for you is airbus. there is a report saying

dani: it is.hearing more of, you can see it looking at etf flows, one area we have seen a lot especially in europe are value funds. if you say this market looks rich, i want to get out of tech, out of zoom and apple, people are starting to buy the value sort of names. leading up to it, value did see a hint about performance. a lot of the pain we saw was concentrated on the retail heavy . if we have these retail names that are starting to come off of tesla,ket like zoom and this might not move into a value etf but there are other investors doing just that. matt: it is an interesting dichotomy. you have investors putting some of their money into value funds and the other into specs. it is a pretty crazy fork in the road. thank you for joining us. dani burger on the markets selloff we will be covering for you. that was a huge reversal of fortunes for the world's richest tech billionaires as u.s. equities tumbled the most in almost three months. they shaved $44 billion off of their personal wealth. jo

dani: honestly, it barely is., the percentage of women who are managers, who run funds, that is 11% and you want to hear the big improvement we had? over four years ago, it was 10%. that is one percentage point improvement in four years. database, only $2.9 trillion is managed by women but people are doing things about this. we've seen clients of fund managers pressuring them to include more diversity among their ranks. there are charities within the industry, different initiative. one is gain, girls are investors which aims to get girls interested in the industry to get their foot in the door to help gender diversity. i spoke with one of the cofounders who is managing director at the cambridge in -- university endowment fund. she was optimistic about the work she is doing and said this year presented a unique opportunity to not just reach more women, but reach a diversity of women. here's what she had to say. >> as horrible as covid-19 has has actually presented us with a strange opportunity in that we've moved t

dani burger is in the city of london. are there less people about today? dani: definitely not.f you were to compare this to a week ago, it is almost no difference at all. we have been seeing people around this area. currently, i am across the bank of england so this is a popular in a section behind me. yes, the number of people has picked up. this is by no means what we would see, for example, last year around 9:00. the peak of people going to work but most of the people have been speaking to say they are on their way to work and have no plans to work from home. for example, one person i spoke to, he works for a recruiting agency. he said his office is full. they have social distancing measures, hygiene measures in place. there's no real reason for them, they think, to go home. that would not work from up until they are told they have to by the government. i spoke with someone else who works in real estate, saying they still need to go in for meetings. otherwise, he expects less people to go into the office. people walking in, this a lot of bike riders here. warnediness lobby h

you so much,nk dani burger.hen you look at the themes, will this be the etf that gets people excited? wei: i would say thematic etf's rcep citing. -- are so exciting. clients bring them to us, we bring them to clients, and i think so far it is very much accelerating on the thematic platform. specifically looking at this etf, ishares also has a similar one. at the beginning of the year, we launched a product and clients are excited about that. so how is it devised out of the covid crisis? 5g, greater emphasis around infrastructure spending, transportation, all of these themes, clients want to know how to get exposure to. a value, is a bit of too. so clients are looking to time when could value finally turnaround. this is something that is also .coring quite well and is somewhat rare for having a bit of a value angle as well. really exciting thematic platform, and i think this trend is definitely here to stay. thank you so li, much for all the insight. the head of ishares investment strategy at blackrock. that is

dani: it's just all really about tech. see it clearly, the trend is your friend until it's not. over the past month, really since the march low, we have seen the nasdaq, which in my chart is the green bar, leading on the way, much better than the equal weighted in blue and the s&p 500 in white. when something is on the way up, it becomes high beta. on the way down, he mentioned it was down 5%. look at the equal weight in blue. it did nothing like that, down around 2.5%. it's really a head scratcher why this happened yesterday. tech valuations had been a concern for some time. maybe it was september. people were back for their august holiday. but it wasn't just tech. it might be more concentrated than that. if we look at the next chart, you can see the names that took some of the biggest beatings. it's what barclays called the biggest concept stocks, things like tesla and zoom. i included apple. look at zoom. it's the bottom one, falling nearly 10%. where did the money go to? it certainly didn't go to havens. the yen not re

manus: thank you very much, dani burger.r left the office, did, anne-marie, dani and myself. the whole debate is the we just more? did you work harder at home, annmarie hordern? tell the truth? annmarie: my terminal was up all day. and never shut down from 4:00 a.m. until i went to bed. i found that i worked more at home, but i am probably more focused in the office. i will be honest. manus: there you go. dani, we like your focus, razor-sharp. let's move along. coming up, we are back to productivity, politics and elections. more work in the next 50 days. than a trump in california. state officials clashing over climates role in the wildfires. we will discuss that next. this is bloomberg. ♪ oomberg. ♪ >> the dystopian future we have seen on-screen so many times over the years, where people need to travel through space and time to find habitable planets or shrink themselves to combat the population is starting to seem less and less like a figment of hollywood's imagination. >> the people who are most affected are already almos

dani, you're a long term investor, you work in manhattan. it is really going against the grain to say i want to invest in new york city real estate which is sl green is, would you make such an investment right here? >> let's not forget slg is actually one of the largest office building holders in new york city, right? not just residential. residential real estate is quite different from commercial real estate. commercial real estate you have got leases that go out many, many years, dozens of years. in some cases almost 100 years. so commercial real estate in a strange way is a little bit protected from this downturn that is happening right now. you also can never count new york city out. i do like slg but i would rather own a reit in something like storage or medical facilities that has more of an upside potential to it rather than being concerned about the commercial real estate market, not just the manhattan but all over this country because of work from home. >> can i take the other side of that trade? charles: you probably could -- let m

here with the details is bloomberg's dani burger. dani: that's right.tbank spent billions of dollars building up positions where they were betting on call options tied to u.s. tech, so that $4 billion clearly paid off, but softbank is going to have to unwind that position somewhat weekly because of this market action. that means those gains softbank had seen will continue to get eaten away as we see this turmoil. we see reports of people within the company also have concerns, so that is part of the reason why we are seeing softbank tumble the most in for months during today's tokyo session. whether the softbank story has an impact on the underlying market, we can see in the next chart that certainly there has been an effect on call volume. call options in the u.s. have seen their volume explode since the march lows. commentary suggests that retail alone can't contribute to this. we see this big ramp up over the past two weeks. goldman sachs says $330 billion options,e and call three times the average from 2017 to 2019, so it is likely that softbank's be

manus: dani, thank you very much. dani burger with the latest..5 billion joint lead deal between apollo and adnoc. big deal, big day. zeltere: dr. sultan and in one day. if you missed those interviews, had to bloomberg.com. ♪ anna: welcome to "bloomberg markets european open." cash trade is under an hour away. trump in kenosha. the president condemns anti-police rhetoric after protesters were fatally shot. joe biden accuses him of failing to meet the moment. the euro breaks 120.

dani burger is digging into it for us. dani: anyone trading yesterday is suffering from whiplash. we did get the s&p 500 erasing year-to-date gains, and today it 0.5%, unclear whether we will get that are not. we had converging forces between hopes for forces, poor jobs numbers, and new housing data that was optimistic. thing that might comfort about what we saw yesterday, we are getting close to a correction. we need to drop 0.8% on the s&p 500 to see a 10% decline. the blue line is that equal weighted version, not leading the decline. that is a reprieve for value investors who saw weaker stocks selloff. this time it is the big tech down.weighing the index not everything is bright and sunny to bet on the u.s. economy, small caps have reached the 200 day moving average. 100 falling below this line. that means the index is falling below its 200 day moving average. tax indexes, and hasfact the small cap breached that level shows concern over the u.s. economy. annmarie: those concerns are starting to meant. dani burger, thank you so much. u.s. house speaker nancy pelosi and treasury

charles: dani, the bar is low.e know already with respect to vice president biden but with respect to your investing there are certain sectors that look like maybe they're doing well. solar stocks are at all-time highs. just how would a decisive victory tonight, if you will, for either candidate change your perspective on this market? >> yeah. i think, you know, bottom line i'm always going to be invested. so whatever happens tonight is not going to change that view but i do think to get more clarity on what biden has to say about the taxes and when they might happen, that is going to help kind of determine what is going to get hit, what will not get hit maybe in the next couple weeks. the bottom line tax policy, economic policy, these are things that are really at the top of mind of people who are watching this. i happen to think biden will come out on top. i think that will help renewables. i think that people will think there is some kind of certainty in the future, which is something we're absolutely lacking. >

matt: all right, dani. thank you. bloomberg's dani burger.ers to look at, one rising higher today raised to a buy at goldman sachs, the stock going from 45 to 75 this year, so not a bad year, zalando. and you also see dialogue, the story we have been talking about, targeting 5g iphones this year. that is helping suppliers, and dialogue is one of those, and that is also a stock that is rising today, although a stock -- dialogue started the are off at about 45, and it is now trading at 37, so it has got a little bit of catch-up to do. old mutual is seeing profit drop, and you see them down 7%. coming up, we will talk more about apple as well as tesla climbing to record highs after stock split's. will the effect last? --s is bloomberg -- a record climbing to record highs after stock splits. will the effect last? this is bloomberg. ♪ matt: welcome back to "bloomberg markets." this is the market open, 30 minutes into the session, and we are looking at gains in the european indexes. up seven tents of 1%, the stoxx 600 -- up 7/10 of 1%. grrr , a

dani: it is certainly somewhat based on this report.e considering adding hsbc to a list of companies that possibly threaten national security. this was a report by the global times. the communist party paper. they will most certainly be added to this unreliable entity list. anna: thanks very much, dani burger. up next is the brussels edition on our focus of the eu. we bring you an interview with manfred weber. equity markets moved to the downside. the london market under pressure. banks falling, down by more than 2%. ♪ 30 minutes into the trading session. the banking sector under considerable pressure. here in london, barclays down by more than 5%. hsbc and a standard chartered down by more than 3%. concerns around these fincen reports that have been released. they are getting a lot of attention. stocks see more broadly related to leisure and free time under pressure because of talk of further lockdowns coming, certainly in london and possibly other parts of england as well. weaker, downroadly by 1.4%. sector is under pressure today, so

michael, courtney, dani, thank you very much. i appreciate it. >> thank you.harles: by the way, folks, 2:25 fox news contributor liz peek on the biden-harris creating doubt about the safety of a covid-19 vaccine. is president trump when he he accuses them of playing politics with the coronavirus. what is the president's plan not only to distribute the vaccine but convince americans to take it? i will ask casey smiley from the rnc. all of that coming up next. lent even offered a personal loan. i didn't even know that was an option. the personal loan let us renovate our single family house into a multi-unit home. and i get to live in this beautiful house with this beautiful kitchen and it's all thanks to sofi. come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ welookentertainmentourg a wayexperience: xfinity x1. it's the easiest way to watch live tv and all your favorite streaming apps. plus, x1 also includes peacock premium at no ext

softbank is plunging after the let's bringmes -- in dani burger. what's going on?he reason it is being called the nasdaq whale is because reportedly, softbank spent aliens building up exposure in u.s. equities, more specifically buying call or bullish options on u.s. tech shares. it reportedly gave them a $4 billion profit gain. the issue, though, is that profit has not been realized, so softbank needs to quickly unwind that position if they don't want to see their profits on a road -- profits erode because of that story. that, in the japanese trading session, we saw softbank fall 7% more in tokyo trading. it is a question whether buying all these options for softbank actually led to the impact on the underlying market, but you can definitely see that call volume. the chart here has certainly spiked. this is starting in march, and there is speculation that this is a retail investor heavy crowd trading in this, but bloomberg learned at this point in august softbank plans to invest in public equities. pastan sachs said over the three weeks, volume has been three time

dani burger, what are the markets worried about?is this narrative about markets and traders waking to the reality that on the northern hemisphere as we enter the winter, cases of coronavirus are not going to get much better. as you mentioned, concerns of another lockdown in london, and broadly across the u.k., which would hurt the economy a lot. you add into this the latest report from the ici j, the international consortium of investigative journalism, buzzfeed, over concerns over areas money laundering schemes. but besides that, this is historically a bearish period. the next 20 days after september 25 is the most difficult time for traders to turn a profit, historically, according to a xi investments. he also had into a period where you have a u.s. election, and hedging increases for that in increased volatility. all of that to say that when we get any sort of increases, any sort of gain in stocks that we are seeing, what we are seeing more often than not is that starting to fade, so the losses really ramped up when europe came i

dani burger is with the details.week, they were of them a bit sanguine i would say in terms of their rhetoric but they have gone in, they have looked march, and everyone else has to go home. good morning. dani: a little bit sanguine. a 25 yearc trade to low. what a different story we are talking about today with the biggest intraday rally. 10.8an jumped in buying million shares. here's the interesting thing. it was barely at a premium from friday's close. they bought it at 28 hong kong 28.30 hong kong dollars. quite the big vote of confidence coming from ping an, saying this is a long-term play for the insurance unit. it's also saying that the slump only increases the appeal and this is key, manus. they think the suspension of dividends is only going to be a near-term thing. they have been in discussion after discussion with management at hsbc and they are confident dividend will come back. this is getting at people to jump into the shares because it is so hard to find yield. if you are confident you can make hsbc in

matt: all right, dani. dani burger with a look at currencies for us.any, chancellor merkel has said russian opposition leader alexey navalny was poisoned by a military grade nerve agent, sending the ruble tumbling, speaking of fx. tadeo joins us. merkel is demanding answers. she has demanded answers from and otherhis issue issues, and she does not typically get any. going to get any on this, matt? the tone from merkel yesterday was very severe. as you know, she herself presented the findings in a press conference. the foreign minister could have done it, but she decided to take care of it, which shows she treated it very seriously, and the language was severe, saying there is proof that this was poisoning. someone was trying to silence the person who was really the opposition to putin in russia, and these are questions that at this point, only the russian government can answer. if you look back, there was a similar incident in 2018 in the u.k. theresa wanted answers but did not get any. what complicates is for germany is perhaps some uncomfortable tran

dani has been looking at the numbers. dani: this is an interesting move.or less a bet on india's consumer sector. what we have to keep in mind is that the business is really focused in some ways on the digital transformation of the way we shop, the way we access services like education and health care, and that is likely what is behind kkr taking a 1.28% stake. they have also invested in reliance's mobile and technology unit, as well. kkr is not the only one. so for like also this month investing $1 billion. annmarie: very quickly before the show ends, i know you are tracking where bankers are working. we had goldman sachs out with the statement. what are they saying? dani: goldman is keeping their london office open. otherwise, they are reversing plans to bring everybody back in. they had about 20% capacity at the moment in plumtree court. since boris johnson announced he wants people to work from home, it is possible goldman which was one of the first to be aggressive about getting people in is no longer pushing for that. it is another step back in their

matt: dani, thank you.er, discussing some of the stories we are watching this morning. matt: [laughs] sorry, anna. anna: [laughs] coming up, we will discuss the outlook for the currency with the market live. ♪ anna: welcome back to the "european market open." european stocks to the downside, now .3%. we are awaiting of course for the ecb. it is efficient day for the ecb, though not many people are expecting much action to take place. the lessee will stay on hold, but officials have to affect a stronger side. with ben. now the spotlight shifts to the euro. how much spotlight will be on the euro, do you think? ben: good morning, anna. i think all of the spotlight will be on the euro. they are not expected to do itthing on the baseline, and is also expected to stay as it is, so pretty much all of the the jobt, particularly running of the currency,

thank you, dani burger. coming up, warning shots from the kingdom.audi arabia is out at opec-plus and short-sellers in a bid to protect the oil market. it was a blunt press conference. this morning, brent crude is up $33.59. this is bloomberg. ♪ look here, it's your very own all-in-one entertainment experience: xfinity x1. it's the easiest way to watch live tv and all your favorite streaming apps. plus, x1 also includes peacock premium at no extra cost. this baby is the total package. it streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. yup, the best really did get better. magnificent. xfinity x1 just got even better, with peacock premium included at no additional cost. no strings attached. annmarie: good morning from bloomberg's european headquarters in london. i'm annmarie hordern. this is "bloomberg daybreak: european open." the trump administration asks skinning cubbies to provide information about their data security involving china giant, tencent. is this the next catalyst for a tech

here is dani burger. dani

we are joined by dani burger.lidationut or assets changing hands. >> this has been such an interesting story to follow. there have been bids. next is anrned euro exclusive talks to purchase them . confirming that news an hour ago. the deal here is they would be buying it with a group. say there is no certainty this will lead to a deal despite the fact they are an exclusive talks. if they do indeed carry this through, it will be done through a rights action. >> what about the battle for 5g and how that is shaping the equipment industry? >> erickson, where the big players competing, has agreed to buy cradle point. expand 5g it will footprints. giving them an enterprise value of $5.1 billion. they are paying all cash. again, the hope here is they can get more capability to give them an edge over nokia. >> we have focused on the vaccine race. vaccines developed and distributed. there is the other side to how the medical industry copes. that is around products you can use to treat patients. what have we heard? inmuch l

joining me is dani burger. iphones, what does it mean for apple?t is a positive sign in terms of demand. it is the same as last year. keep in mind the context is we are in the middle of a pandemic, in the middle of a recession, and still demand is holding steady. we have seen a lot of suppliers game today. .n european trading in some ways this shows us apple is the ultimate stay-at-home play. perhaps people do not want to buy more expensive macbooks or ipads, but if you are working at home, these are tools people are buying and using because they are no longer in the office. we have learned apple will have a product list throughout the fall, this is what everyone gets excited about. models of iphones in october, and a new ipad air, smaller home pods, two new apple watch versions, and they are launching over the ear headphones, the first time they are doing it. the fact they are coming out with sony products shows there confidence in demand despite the fact the pandemic has not abated. francine: speaking of tech, online platforms experienced outages

let's talk to dani burger. following the legal back and forth between lvmh and tiffany. : tiffany sued lvmh for pulling out of their $16 -- $16 billion buyout. lvmh has hit back with a counter suit. they are saying the french government told them they had to pause the takeover because of the u.s. trade issue. that amounts to a legal restraint that prohibits the deal from taking place on time. that gives them reason enough to back out. they are saying tiffany's has had its share of mismanagement, that they should not have done this as poorly as they did, it that they did better during the great recession. they are saying this is uniquely a tiffany management problem for why they have done so poorly. out one also have news and chrysler and psa group salon to's. >> it is out with their new management board. they are going to have 11 people. another thing that may be moving fiat today, they are finally settling for their emission audit, they had misleading statements of 2016, they did not find anything wrong with e

dani burger has the latest on what to expect here. dani, give us the lowdown. changes in the euro stoxx 50 that has happened in decades, and that is the inclusion of more growth sort of names in favor of value. that reflects how investors have been trading since the pandemic, so we have companies like internet investor prosus and a dyen taking the place of bbva and soc gen, which you mentioned, and there is this .plit, more sentiment those changes might just fuel this rush to growth because passive funds to attract these indexes and investment stocks in them. , thanks very much, dani burger with the latest on those benchmarks, and watch out for the reshuffle on the ftse, as well, coming this week. that is it for the bloomberg market open. stay with bloomberg. up next, it will be "surveillance," and we have the market up. the dax up by 1.5%, and up by 4/10 of 1% on the ibex, and the ftse up. optimism around the vaccine, ongoing enthusiasm for tech stocks, and the anticipation of fiscal stimulus in the u.s. and ongoing monetary support, all of those things leadin

dani burger can discuss. you. good to see i love this chart. take it away. dani: you have been talking about it already this morning, growth versus value, and part of what is happening here in my mind is investors have looked at what has happened in growth and are taking profits now, where there are high valuations, and are now searching for the next leg of the rally, so, again, these two, if you go to the next chart, you can see the flip of that, and that is the blackrock equivalent of value and growth. they had the biggest amount of growth. this is where the money is going, out of growth. if we are going to get a vaccine, if these are expensive, you want to go where it is going to rally next, and that could very well be the cheaper stocks. part of that might be that investors just want tech. they do not want growth as a whole but want to narrow in on the market winners like tesla and apple, and we sawtek etf's etf's.we saw tech discerning in a parabolic move. dani, thank you for putting it into context. i guess joins me. good to have you with me. is it tim

dani burger what walk us through the latest bombshell banking report. manus: tencent has $22 billion of investments in the u.s. in tech. of deaths of -- the death justice ruth bader ginsburg has driven the supreme court to the front of u.s. elections. driving amination heated debate. our senior editor joins us now. good to have you this morning as we kick off monday. this fight over ruth bader ginsburg's seat -- how is it shaping up in this highly politicized environment at the moment? seat willupreme court have a highly politicized fight but this one will possibly be worse than what you have seen before. this vacancy coming up two months before the election or a little less sets up a fight similar to 2016 where barack obama had a vacancy left by the death of antonin scalia a. the supreme court conscience of the rights. obama wanted to replace him which would flip the court and mitch mcconnell said no. they came up with a reason that you will hear them talk about key point ofe which is that it is not happening this time. senate republicans say they are

dani burger with the latest on the cinema numbers.eo who knows a thing or two about moviegoing. greidinger, ceo of cineworld. when do you think you can get back to 100% capacity? will you ever get back to 100% capacity without a vaccine? y: i think we need to differentiate between two period s. after the vaccine, there is no doubt that we are going to go back to normal. remind all the people 2019,re talking now, in the cinema industry had the biggest year ever in the industry. a record year. no reason why not we see the very room come back to the cinemas by our audience. of course, the more regular visitors are coming earlier. know,might even say, you i had a remark about the $53 million box office of "tenet." i think it is amazing results. we need to remember, this is without the u.s. it is about 30% more than what was expected. i think this went well. shows andy sellout probably this weekend will be strong because people want to go and see the movie. in many places, it was the first week of schools. i think in general, we are very e

dani burger, good morning. what is so special about this one?i: this particular one is very emblematic of the frenzy around spac this year. it is a special acquisition company, a blank check firm goes public, and its sole purpose is to find a private company, merged with it, therefore going dolic without ever having to an ipo. it is taking it public. it should go this week. the company has yet to produce meaningful revenue. it is forecast not to have revenue until 2022. despite that, it has a $7 billion valuation attached to it. once it goes public, its founder, a 28-year-old from carnegie mellon, will have a $1.8 billion valuation. as already mentioned, the founder, thomas healy, stands to gain a lot from this, but we can't overlook a beneficial this has been for tortoise, the blank check company acquiring the company. it put about $7 million into this blank check company according to bloomberg intelligence's kris bryant -- bloomberg opinion's chris bryant, rather. it stands to gain from the acquisition itself, getting 80% of the cash proceeds.

here with the details is dani burger. dani: that's right.t is called the nasdaq whale, softbank, built up a position of billions betting on u.s. equities derivatives, call options surrounding tech. that is bullish derivatives those shares would move higher. that is all well and good, but certainly a risky bet. it may have allowed them to get a reportedly $4 billion worth of gains, but those gains are unrealized. softbank would have to unwind their position pretty quickly to avoid more substantial losses from the selloff. because of the uncertainty over what their position is, softbank saw the more than 7% -- fell more than 7% in tokyo. we see nasdaq futures falling nearly 1%. market closed today, but futures still dropping and that could eat into profits. the question over whether this --acts the july market underlying market, there is debate but something is clearly going on. i'm looking at call options on u.s. stocks and since the march low, the volume has absolutely exploded. the result a lot of retail interest, one strategy where you buy

dani burger with the latest. dr.auci says it is unlikely a covid-19 vaccine will be available to the public by the date of the presidential election. we will have plenty more from the top. markets. jay powell upending some of the things that we saw in terms of asset classes. u.s. futures down after jay powell highlighted uncertainty about the economic rebound. looking at treasuries, they are actually ticking up. i am looking over at some of the industries in europe that are under pressure. we sawers slumping after data showing european car sales plunged by nearly 1/5 in august. this is bloomberg. ♪ francine: economics, finance, politics. this is "bloomberg surveillance." i'm francine lacqua, here in london. let's get to the bloomberg first word news with leigh-ann gerrans. leigh-ann: the federal reserve sees rates staying near 04 near three years. staying near zero for at least three years. at its last meeting before the presidential election, the central bank vowed to delay any hiking until the u.s. gets to maximum

joining us now to discuss the market is dani burger.seem bailey is waiting for to tighten daily policy? dani: in his own words moments ago, saw him speaking in a webinar to the british chamber of commerce, daily says he needs strong evidence that certainly rate cuts are an option, that they are going to use should they have to, but he seemed to walk a tight line here, talking on both sides of the coin, that the third-quarter recovery is strong than expected, the u.k. economy recovering quickly, but still saying unemployment was worse than it seemed. comments,egative rate he pushed back expectations that we get those. we saw money markets reflecting, now pricing in a zero rate policy in may. previously they had been in march, really because bailey was saying that they want to have this in the toolbox. it was almost a technical exercise, something that takes time because should they need them, they want to be able to. again, he said that the experience with other countries has been a mixed bag, so really softening his stance on the u.k.'s

let's get more on some of the biggest happenings in m&a with dani burger.o tiktok, as he said, abandoning talks with microsoft after reported opposition from beijing. oracle, it would not be an outright sale of the business. it would more so look like a corporate restructuring. there is some question whether this will be approved by the u.s. government and beijing as well. the government has that september 20 deadline to sell the business. this is more likely to look like , at the moment, what we understand is that oracle will likely take a stake as well as become their tech partner, house the data in their cloud servers. this would be a win for oracle. maybe not straightforward why oracle would be interested. hosting the data on their services would certainly be a win in oracle's book. anna: what about softbank? this is a really global story? dimensionuropean because the asset we are talking about being exchanged here is sold in the very height of the brexit drama, i suppose, the aftermath of the brexit vote. nvidia's headquarters is here in the u.k.. the

dani burger is here to do just this for us.arkets so vulnerable at this moment that we are starting to see such swings? pretty much all of august is getting wiped out. dani: part of it is because we had this rise in technology. theaps really what was cocktail here -- the lethal cocktail was the markets and you add all the options volumes we started to see in the u.s., notably call volumes in technology. at least that is what jp morgan strategists point out, it is unlikely it is one large whale in the market, referring to the news that softbank has been buying these call options. instead they say it is probably some of the larger players in tandem with each other, as well as the retail space, and you get a sense of the fact of what is called the gamma squeeze. people buying call options, and dealers in order to protect themselves from price swings in the option prices, need to go by the underlying stocks. all these things together, when you have not much trading at the tail end to the summer, that really helps to fuel the sellof

dani burger joins us with stocks to watch.under and the owner patrick draghi is through hisg this company next private. the offer price is four euros $.11 per share. that is a 24% premium on the current price. we can expect to see a sizable rally for this company which has lost 42% area that is why the owners decided to take it private because of the volatility in the share price. anna: what about the manufacturer of vehicles? we have seen a lot of job losses from companies that supply and then we get some from them. reporter: it is coming throughout the industry. it is a truck division cutting a quarter of its workforce, 9500 jobs. the cuts will come globally, from across the organizations. no part will be spared. they will relocate -- this is all in the mind of becoming thin, efficient and lean. the plan is to improve operating results by 1.8 billion euros. you would have to imagine shareholders would react well to a plan to bring in that operating profit. what is the story with the swiss breaker -- the swiss bigger, cookies

joining us now is dani burger.f the biggest to signify a second phase of moving out of the u.k. as the talks enter more advanced stages. but, so far we have not seen much movement besides that. hundreds of millions of billions moving out of the u.k. london has three times the equity as the european union for the big five u.s. banks. when it comes to risk-weighted assets, it has four times the amount. for jp morgan, we have been talking about it as being the first of many. there isave said that a critical mass of people and clients in london so it is unlikely it will move as many assets as they originally anticipated they would. thelators have been telling lenders to keep their assets in london to really make sure that there is adequate reserves in the city. bankss another reason why are hesitating to move more assets into the european union. anna: and it is not just brexit that london is contending with. how has the pandemic changed things? dani: we are now not just getting anecdotal stories. we are getting hard nu

dani burger there.xpects his country will see the sophist recession in the you -- in the e.u. >> i think he is now in a place which is good for the economy. timesnot intervene in , and if there are unexpected developments, are central bank does not exclude intervention. this happens vis-a-vis the swiss .ranc, which is important but having said that, we are not concerned with the current level at all. it is good for stability of our economy, it is good for our expert in the industry, and it has the potential for further strengthening. >> across the border in germany, there is increasing pressure on chancellor merkel to abandon the nord stream 2 project. that has been the polish government stance for years. how would you try to convince germany to drop this project? >> now with the case of mr. navalny, i think it should be a no-brainer. very sadee is a example of how russia is treating its citizens and opposition leaders, and this should be condemned -- not only condemned, but it should be -- there should

let's get your stocks to watch with dani burger.ng, revenue of 712 million dollars. the real issue here is they are warning they may breach their covenant unless they get a waiver. if they do, it could trigger a restructuring of the company. that is deftly want to keep an eye on. the pain uncertain for cineworld as countries continue to add more restrictions. base metals are one to watch today. we saw the bluebird base metal index clock its worst we can about five months. that pain is on the back of margin saying that they do see the pain getting worse for the metals industry. we could see companies like -- slump during today's trading. finally, more news on the spanish bank merger front. discussing potential mergers. senior management, shareholders all talking together. that's according to spanish local reports. so far, they have not hired an invented -- inspector. it's not certain at this point yet. these two pinks held talks at the beginning of 2019. those were called off. they sizzled out. it looks like a merger is potentially b

to walk us through is dani. hi, dani. >> u.s. futures are up this morning. we are seeing pain in the futures. this shows you it is not a broad risk-off event. nasdaq futures down nearly .3%, european stocks also up. again, this seems very concentrated. we are not seeing a wide breadth of a selloff. it goes to a couple of months really from the march low with u.s. futures, nasdaq composite doing much better than the rest of the market. barnt to show you the green on the chart. that is the nasdaq composite. we have equal weight in blue, below that, the s&p composite index. on the way up, that green bar, nasdaq composite, leads on the way up, so perhaps not surprising on the way down here. the trend is reversed. . probably about 5% yesterday for the nasdaq. really the stocks that were most hurt are some of these new economy concept type names is what barclays calls them, stocks like zoom and tesla down nearly 9% and 10%, respectively. it shows you perhaps some of the fears of the robinhood crowd, very high valuations are what caused this selloff. if we look at

dani burger is here with her findings. these businesses that are built around our commute into the city? >> it is really huge, anna. we have a lot businesses that need white collar workers who go into the office maybe on their lunch break, go grab a coffee, do some shopping. top after work and do some shopping. there are so many businesses in cities that need people in their desks in the offices. in europe about 70% of employees are still working home since the end of last month according to morgan stanley. p.w.c. survey found as many as 70% of people spent time at home. services altogether, the industry employees more than 4 million people in the city. finance is just 1.2 million. you can see there is this central business ecosystem that is not just important locally in the local economy but really the global g.d.p. it contributes a lot to it. without it we're seeing businesses start to struggle, consider shutting down. it really is crucial. matt: what are the businesses themselves saying? what are they saying in terms of

dani burger reporting live from the heart of the city.ning to the latest coronavirus situation on the continent, joining us is maria tadeo. what is the latest situation in spain? the lockdown in madrid has been quite severe. >> it has. what i would say is you look at a city like madrid, not just a city, but the region around it, it is not really a full lockdown. that is what i would highlight. the regional administration has looked at the districts where the cases are spreading faster and decided to do what they would like to call a partial lockdown. that means you are allowed to go to work. the government is telling people if you can, you should. but you are not supposed to socialize. the rest of the city if you get on the metro, i have many friends that tell you it is almost like a pre-corona situation. clearly it is the pressure that is becoming an issue with hospitals. the regional administration has come under pressure for not taking measures before that. just yesterday they were saying we are going to put hand wash and all of these

a lot dani's decided to escape to buddha past. the boss there's where pasted on in german in gold gothic lettuce 2 paragraphs one all the jews have. to report at a certain day at a certain hour to serve them place 2nd paragraph jews the real not obeyed or this will be solved plainly. by now jews were being arrested throughout the region they want executions. the family did not feel any safer in budapest. my parents decided to try to hide. and. i was brought to a monastery we walked to a gate my father kissed me embraced me here rang the bell a priest arrived. my father thought he were old the kid the priest did not ask any any any questions let me in close the door behind me. therefore there and there for my contact with my family. and never head such a trauma in my life as during my a stay there were an aussie they did not do me any heir any were a single wrong. a field field field for my life. i feel as a hero or the child that i will be the take to the air a jew and there be killed. and the bombs began to fall. fortunately for

your dani burger has stocks to watch and shell in focus because of job losses announced.n 7000 and 9000 by the end of 2022. the ceo, saying we need a simpler, more streamlined and more competitive organization. you've got to love some of the euphemisms of calling this more streamlined but it says they will save an annualized cost of $2 billion to $2.5 billion. this really as to a growing list of the oil majors who have had to pull back on costs to really deal with the impact of the coronavirus and the weakening demand for oil between slashing dividends and job cuts. charges,impairment shall cease an annual tax impairment charge between $1 billion to $1.5 billion. anna: william hill, also in focus. we've talked about bid activity around this gaming and online gaming business. dani: we have known for a couple of days both apollo and caesars entertainment were making bids for william tell. that has sent the stock higher but we have clearer ideas of what exactly will happen to william hill. caesars, agreeing to buy it for 270 pence a share. a bit war sent shares higher to wha

dani burger, do the risks matter? dani: u.s. equity futures are starting to sink.n that markets are pricing in and incumbent loss? the market is saying, biden will be president. it's an extremely noisy day. it's hard to sort through that and get a big take away. perhaps history can be a better guide for us. what do equity markets usually do after the first presidential debate? the next day, they are barely unchanged. one month out, you do tend to see a 2% decline. this is on average. there's another problem with this data point. the total span of what it looks like after every sigel debate, which is my next chart, the data looks more confused. look at what happened in 2008 during the great financial recession. we see big declines. that skews all the data which is usually unchanged for equity markets after the first debate. more than anything, this really shows us that there is a correlation between markets to and how the presidential debate goes. more important might be the election itself and the sentiment around it. manus: ok. thank you very much. the markets are

and with dani in power -- >> congratulations, dani. you're the new head of household!ng with. >> i nominated you, kevin and david. >> but david used the secret disrupter power to save himself from the block. >> people want me gone. >> i need to look as nervous and sad as possible so nobody knows i have this power. >> in the heat of the moment, dani put up a fellow committee member. >> tyler. >> david tried to convince the house he didn't unleash the

annmarie: thank you dani burger. we have seen a fall from 1.34 last week to 1.31 today.aed is still with us. i want to get your take on the talks. you have the u.k. saying they expect realism from the european union. if you look at the risk reversals, we are less bearish to investors and they were in 2018 and 2019. do you think investors are a little bit too cavalier about a trade deal coming to fruition? i think the sterling story is actually interesting. for the past few months we have and dollar weakening sterling is one of the most under owned currencies out there in terms of structural trade. they have not really adjusted their positions. have seen his hedge funds and fast money. there is definitely optimism in the markets regarding a deal in the pipeline. in the one side there is a government will not pass on a chance to make a deal, especially given the covid a potentiald re-spike in covid cases. on the other hand, johnson could be willing to walk away from the table. the latest actions indicate he is willing to walk away. it's now the market in the past 24 hours

let's have a quick chat with dani burger. good morning. dani: they are one group of investors -- according to jp when we saw the nasdaq takeoff. because the markets were so thin in terms of leadership, one of the funds already had low exposure. they do different things. it is hard to take them as a monolith. in general jp morgan says you have this market where they are not fully invested. that makes them pull back even further. -- this actually is good news. it means they can jump in more. they have more firepower to add to the comeback we have seen. for now they are not playing in the market. compare: how does it with the rest of the market? >> it means one group is pretty negative and they can't buy into it. the rest of the market looks pretty invested at this point. here i have apple and tesla. it is still extremely elevated. players were undeterred by the losses we saw. according to alex young of tactical alpha, we need to see a lot more damage before these investors are willing to throw in the towel. retail traders still in. let's con

dani burger has been tracking the pace on the pause. is no setback, but the severity of that setback depends on whether the illness is related to the vaccine itself or something separate. if it is something separate, it could just be that, just be a delay. we certainly see markets pricing that a little bit more today as we saw a bounceback in the nasdaq futures and s&p 500 futures. if this illness is related to the vaccine itself, it threatens to derail the effort for astrazeneca, which is a leading candidate right now for a vaccine. if it is a delay, we are seeing these drug companies speeding to get it done. there is political implications, of course. the u.s. president has touted a vaccine ready before the november election. we have seen it be downplayed by experts in markets. one clinical trials expert from scripps laboratories in san diego said that there is a strong likelihood that this is not related to the vaccine and that it is just a delay. ussing that out. >> we want to stick with that story. drugmakers have pledged to avoid