david: i'm david westin. we welcome steny hoyer, democratic member of congress and majority leader of the house of representatives. thank you for joining us. first of all, i think you deserve the opportunity to read town -- recount what congress was able to accomplish people didn't expect nearly so much. rep. hoyer: we had an extraordinary session. i have been in congress since 1981. this is one of the most productive congresses in which i have served in which i have served we started during the american rescue plan where businesses staying in business and getting kids in school and 250 million shots in arms which is why i go to a lot of meetings and people are not wearing masks and coming to in person meetings. we then passed the infrastructure bill, on the first built there were no republican votes on the senate or house. next, we passed the infrastructure bill which invests as trump said he is -- was going to do, substantial onion building america's infrastructure and competitiveness and the electric grid,

coming up, leon panetta will be joining "balance of power" with david westin. be heading over radio. tune into us at the top of the hour in new york and london. we will go through all the top headlines from the day. u.s. and u.k.. happy monday, everybody. this is bloomberg. ♪ >> this is balance of power with david westin. david: from bloomberg wor

coming up, senator rob portman from ohio on balance of power with david westin.nd i are headed to dab digital radio. we will talk by the top stories of the day including the rail strike, a market action and u.k. banker bonuses paired this is bloomberg. ♪ >> from the world of politics, to the world of business. >> we can already count on a 75 basis point hike. that is an extra ordinary move. and the question revolves around what is the signal for them. >> business balance of david westin. ♪ david: from bloomberg world headquarters in new york for our television and radio audience

emily: california governor gavin newsom with bloomberg's david westin.ing chipmakers under a new $10 billion plan. the government will increase incentives for manufacturers. india is the world's second-biggest global filmmaker. -- will become co-ceo in january. kinkel has spent the bulk of his career at youtube. he was also part of the team at netflix that introduced original streaming programming. beyond meat has suspended chief operating officer doug ramsey come rested on charges that he bit a man's nose at a college football game in arkansas. this is another blow to the plant-based protein company which cut revenue forecast last month. coming up, how latin america's -- digital economy has bounced back in a bigger way than the united states. this is bloomberg. ♪ >> welcome back. when it comes to the digital revolution, latin america is catching up fast. a venture capital firm which backs latin american companies shows how the digital economy in that part of the world has skyrocketed as the result of the pandemic. let's dive deeper with our guest. you h

coming up the former back -- the former head of the bank of ireland will be joining david westin. lot of the cable show. guy: we have plenty to discuss. the pound under a little bit of pressure. not much. not near the lows. alix and i talking about all of this over the next hour. the cable at the top of the hour on dab digital radio. this is bloomberg. ♪ announcer: from the world of politics to the world of business, this is "balance of power" with david westin. david: from bloomberg world headquarters in new york to our television and radio audiences worldwide, welcome to "balance of power" where what continued on friday continues into today, with the pound weakening and the yield on guilt going up. we turned to lizzy burden, our bloomberg economics and government corrent

coming up, the chief investment officer is joining balance of power david westin.ll go through all of these stories and more depth. check us out over there. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™ >> this is balance of power with david westin. >> welcome to balance of power. the u.n. is meeting in new york, of course. that has to be a very important part of the agenda. we turn

guy and i are headed to ra >> this is balance of power with david westin. balance of power. we start in england. those are treasury bonds over in the u.k. come in order to bring stability to the marketplace. the

he spoke with my colleague david westin from the sidelines of the u.n.'ate action race 20 and the resilience forum supported by bloomberg philanthropies. governor newsom: we were distressed test. we had no blackouts. we were challenged, but we kept our wits and we are maintaining principles that will allow us more resilient in the future. so i don't think you have to sacrifice one for the other. i would argue not transitioning is a bigger risk. >> transitioning is a big word. there a lot of experts who say we have to get to renewables, but you can't just give up, for example, under natural gas. do you agree? >> absolutely. we were able to keep our lights on because we had backup generators. we aren't naive about the situational challenges. but that doesn't mean that we don't accelerate areas like battery storage, we have the largest battery projects on planet earth. 250 megawatts 2.5 years ago. close to 4000 megawatts, our largest powerplant today. that is just in 2.5 years. look at what we can do in 5, 10, 15 years. so i think people are no evilly assumi

. >> this is "balance of power," with david westin. david: from bloomberg world headquarters in new

paul: that is larry summers speaking exclusively with bloomberg's david westin.r morning calls ahead of the asian trading day. in america, traders are rushing out of u.s. equity as the chance of a economic downturn increases. the increasing cost of money is one of the factors driving investors away from stocks. u.s. stock outflows are near $11 billion in the week of september 7. global equity funds have outflows of $14.5 billion. shery: money managers have european stock funds in the same period. total outflows from dow zero zone $83 billion. finland says they face a lehman brothers moment. analysts are warning that a complete shut off of russian gas will plunge europe into recession. blackrock says this risk has not been fully priced by equities. let us bring in the president of energy international. we continue to hear from your -- european countries trying to intervene in the energy markets and lessen the impact of this. what sort of measures can we expect? >> we expect a similar package. a package we have seen from the u.k. government. the issue with all of t

from -- >> from the world of politics to the world of business, this is balance of power with david westin: from bloomberg world headquarters in new york to television and radio audiences worldwide welcome to balance of power. it's day two of the great railroad settlement. tension shifts from the settlement to the tentative part of it, what will it take to get ratifications? unions can't say no. we turn to our washington correspondent joe mathieu. what are you hearing about ratification?

. ♪ >> from the world of politics to the world of business, this is balance of power with david westinm bloomberg headquarters in new york, welcome to balance of power. we begin with the russian invasion of ukraine. we heard president

. ™ >> from the world of politics, to the world of business, this is balance of power with david westinoomberg world headquarters in your tower television and radio audiences worldwide, welcome to balance of power. the united kingdom has a new prime minister. this trust has visited the queen and she is now returning to london. she is expected to give her market number town when she arrives and will preview those fully when they happen. in the meantime, we turn to lizzy burden,

. >> in the world of politics, to the world of business, this is balance of power with david westin. m bloomberg world headquarters, welcome to balance of power. a brisk start to his -- biden's visit to london to visit -- he will appear at the general assembly and by the way he had a bilateral meeting with liz truss, the new prime minister of the united kingdom. he had an interview that made some news. let us go through this rather packed agenda.

. >> from the world of politics to the world of business, this is "balance of power" with david westinrom bloomberg world headquarters in new york to our audience worldwide, welcome to "balance of power." the story today is of inflation. we have ppi numbers out today. to take us through it all and explain where we are going, welcome michael mckee. from my point of view, the pti numbers did not make me feel better that -- better but they did not make me feel worse. michae

soft music) >> from the world of politics to the world of business, this is balance of power with david westinvid: from bloomberg world headquarters in new york to our television and radio audience worldwide, welcome to " balance of power." we are about to have hearings on the senate side and to give us

balance of power with david westin. weekdays. this is bloomberg. you are watching daybreak:

this is bloomberg's "wall street week," i'm david westin.ch economic trouble we may be in. >>

. -- power with david westin. bloomberg world headquarters in new york our television and radio audiences worldwide, welcome to balance of power. hurricane made landfall yesterday and tore up half florida. as it hit land, it was a category four major storm and it continues to rampage into the atlantic ocean. the latest on where hurricane ian is and what impact it has done, we turn to the man that

this is bloomberg wall street i am david westin. this w

it, i think the fed will start to need to go a bit slower. 0 this i >> >> balance of power with david westin

. -- power with david westin. bloomberg world headquarters, all come to balance of power. it is been quite a week for monetary policy makers to central banks around the world raising rates, including the united kingdom. the question is what is the aftermath of all of these

that wraps it up for me and guy. , coming up the governor from new jersey joint balance of david westintelevision and radio. guy: we are good to go on bloomberg radio. we will cover what's happening and work out what happened with the ecb and the fed today. lots to think about and talk about. we will be on dab digital radio. that wraps things up for alex and for me, this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™ >> from bloomberg to our television radio audience worldwide, welcome to balance of power. today, gm dives headfirst into the mass market for ev's. we spoke with the chair and ceo. >> the chevy equinox is in

david: i'm david westin. you have been listening to testimony before the house financial services committee on a wide range of topics, as is normal. a lot of questions about inflation, the ability of

treasury secretary speaking with david westin. surging energy costs and rising inflation.es weighing on global currencies. we will take a look at fx markets. this is bloomberg. ♪ paul: let's take a look at what is going on and currency markets at the moment. dollar strength continuing to be a powerful thing particularly when we take a look at the yen. one i must -- the ministry of finance for the possibility of intervention in japan. the aussie dollar weekend quite a lot yesterday after the reserve bank of australia's decision to lift the cash rate by another half percentage point and the chinese yuan remaining in focus as we continue to get drummer than expected fixes from the pboc. he is the global head of fx strategy at the national australia bank. i want to start with the australian dollar. it did weekend quite significantly after we had the reserve bank of australia lift the cash rate again. normally, we see the currency strengthen. is this more story about u.s. dollar strength? >> i think we have seen across a lot of central-bank activity except for the fed. any supp

coming up, jane harman of the wilson center will be joining balance of power with david westin on bloombergand radio. i am headed over to radio. tune into bloomberg's "the cable" at the top of the hour. have a wonderful weekend. this is bloomberg. ♪ >> from bloomberg world headquarters in new york, welcome to balance of power. the world reacts to the passing of queen elizabeth, and the reactor what the 70 year reign meant to the country. >> she is an incredibly decent woman, the thoughts and prayers of the american people are with the people the united kingdom and the commonwealth. >> queen elizabeth ii was the rock modern britain was built. the very spirit of great britain. that spirit will indoor. -- endure. >> from the world of politics to the world of business this is "bloomberg: balance of power,"

. ♪ >> from the world of politics to the world of business, balance of power with david westin, newssis, insight from the power players weekdays. this is bloomberg.

. ♪ >> from the world of politics to business, this is "balance of power" with david west continue. -- westinm bloomberg world headquarters to our television and radio audiences tremors continue to shake the economies the latest in europe. news overnight but an undersea leak in the pipeline that could have been sabotaged and we heard gas prom the fat company in russia may be sanctioning ukrainian gas so it could

haidi: the former treasury secretary terry summers speaking exclusively with david westin.ng dollar has inverse relationship with the rest of us gets making it the only possible hedge for the year. let's bring in annabelle to talk to dr. the implications with asian fx. we have key rate decisions this week including the bank of japan. how do we see that playing out with again? annabelle: -- the yen? annabelle: it is one of the key rate decision this week but we also have to see what the fed does on wednesday. perhaps we could see a 100 basis point move, but the biggest piece of information could be where they see rates going, fomc officials. if the number is higher, that could be something that drives the dollar higher. the difference in yields between the u.s. and japan is driving the yen weaker. we saw it at that 145 level. in terms of what we see in japan, when we have the ministry of financing they could step into markets to shore up the currency, we had the boj, the expectation they would keep policy settings unchanged also stepping in to keep bond purchases low to driv

haslinda: that was former treasury secretary lawrence summers speaking exclusively with bloomberg's david westinore ahead. keep it here with us. this is bloomberg. ♪ haslinda: welcome back. let's do a quick check of the latest headlines. fernando zobel ariella has resigned as president and ceo of the philippine conglomerate ilr corporation effective immediately. he has been on medical leave since august. he also dissolved his roles in the company's various other units. a factory giant catl says there is now a factory bubble. it has a population of 4.6 million people. they were forced to stay home friday amid what officials call a severe covid situation. in a series of tweets, download says he looks forward to seeing espn generate considerable synergies as part of disney. separately, disney ceo bob chapek says espn is critical to the company, including sports betting. rishaad: we are just getting some headlines about the better administration perhaps broadening their curbs on u.s. ships exports. this is according to a reuters' report. it is based on restrictions communicated to letters such as kl

>> from the world of politics to the world of business, balance of power with david westin, news and analysis, insight from the power players weekdays. this is bloomberg. shery: welcome to "daybreak: australia." we are counting down to asia's major market opens. haidi: the top stories. asia's stocks after a positive start after the late rally on wall street. over tightening will trigger a hard landing sending treasury yields higher. zero covid poses -- the world bank urges increased production to help cool inflation, warning rate hikes a higher recession risk. shery: u.s. futures extending the gains we saw in the new york session. the s&p five -- s&p 500 moved further. thanks rising higher against the fomc decision, not to mention the tech rebound. . . the treasury selloff continued the 10-year yield topping the 3.5% level for the first time since 2011. we are very much watching the sugar and yield leading the gains. still at the highest since 2007. we had a rebound for oil prices. here in the asian session, we are seeing downside around the $85 a barrel level. we heard from the u.s.

balance of power with david westin. weekdays. this is bloomberg. you are watching daybreak: asia. from new york, sydney, and hong kong we are counting down to asia's major market opens. expectations for another hike. snapping a four day losing streak. china's covid zero policy plunges another major city into lockdown. hong kong is targeting another quarantine. >> south korea cpi crossing the bloomberg softer than expected seeing a contraction of .1%. expectations were a .3% gain and a pullback from the .5% move in the previous months. august year on year cpi 5.7%, shy of expectations of 6.1% and a fall back from the 6.3% in july. in july for .1%, more or less in line with expectations a little bit of fun softening from the previous month. we did hear from the governor at jackson hole saying they could raise rates again to tame inflation and are not likely to stop raising rates before the fed. more pressure on the won to depreciate. the impact on the wind has been dire. we have seen a ballooning of the trade deficit. inflationary pressures are really playing out when it comes to co