joining us now is david westin. be looking at the price we are setting in terms of buying oil. what are you looking at? david: you are looking at energy markets. i am looking at political markets because we have a midterm coming up three weeks from yesterday, and we see yesterday was abortion, and today it is what president biden is doing at the gas pump.he is concerned about prices and what they could mean for midterm elections for the house of a presented as one third of the senate as they get elected in three weeks. guy: it is not very far away. are we at the point where it is almost too late to try to move the oil market and influence them in terms? -- influence them in terms? david: it is getting really close. how quickly it could affect the price of the pump, alix should answer that question, but if they have reason to believe they will come down anyway, maybe this is a way for them to say, we did it because we release this oil from the strategic petroleum reserve. alix: it is also a signal at the end of the d

. -- david westin is joined by john kirby. vid: we welcome john kirby, coordinator for strategic communications. let's start with ukraine. what do we know about what is going on right now in the battlefield? amr. kirby: the ukrainians announced they have now taken back a key drought hub and a printer industrial city. -- a major industrial city. the russians were wanting to use it to supply their own efforts. that is a significant development. it falls on the heels of so many other territorial gains by ukrainian armed forces in the northeast area of the country. it follows suit for the counteroffensive, which is moved an impressive speed. in the south, near paris on -- near herson, ukrainians make progress. not as dramatic in the northeast, but it is working. david: tell us about the weather. it is important for ukrainians to make as much progress as possible before the weather gets worse? amr. kirby: i think you can see from zelenskyy's plan that they timed these counteroffensive's for good weather. as we get into the holiday s

of power westin. -- balance of david westin. -- balance of power with david westin. ngdom does have a new prime minister, mr. richie sunak who had this to say. >> i am humbled and honored to have the support of my parliamentary colleagues into be elected as leader of the conservative and unionist party. it is the greatest privilege of my life t

we appreciate it and great thanks to david westin for joining us as well.his is bloomberg. ♪ guy: what on earth is going on in these equity markets right now? this is the s&p futures. look at the turnaround we are getting. it is massive paired we are back to where we were coming in to the inflation at eight: 30 eastern. europe is completely turned around. positive across the board for the major markets. the dax is now up by nearly 1.5%. this is quite the turnaround. tell me what's going on. the close is next. this is bloomberg. ♪ at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. millions have made the switch from the big three designed to help you keep more of what you earn. to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited

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you have balance of power with david westin,.er of virginia it will be headed in with him. join us on digital radio or find us as apposite get -- as a podcast. this is bloomberg. ♪ millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... add a line to your existing plan, or see for yourself how easy it is to save by talking to our helpful switch squad at your local xfinity store today. announcer: 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, welcome to balance of power. we start with midterm elections, three week from today as things are getting hot and heavy. we have debates across the country, a l

as david westin pointed out earlier on we don't know what we will be talking about tomorrow. it can be the hair anymore. let's talk about what we've been talking about in amsterdam. airline ceos pretty optimistic right now but i think hind the optimism you've got to be optimistic to be an airline ceo. i think they see the big challenges coming down the pike, there is clearly a slowing economy, rising rates, etc.. we've heard from the fed president a bit earlier on. they are going to hike and hold. they need to slow this economy down. i have to say airline ceos, they don't see that. alix: i also think how it all winds up playing out in terms of this short of staff, now the getting slammed on it in terms of consumers end inflation and growth and how they pivot if they have to or if the consumer trend will be traveled. i think that pivot could happen quickly and how do you deal with that if you're a ceo? guy: i think it's interesting the services ism today was strong. so i think in europe you could make the argument of the consumer will have to retrench more aggressively. they a

haidi: that was david westin.on fears are growing but such warnings are hard to find when it's. we get a look at bank earnings next. this is bloomberg. ♪ haidi: you are watching daybreak australia. shery: we are seeing signs of high inflation and the economy is away on company balance sheets. balance calls are becoming a concern for money managers? annabelle: this has been one of the key things we have been watching coming through in the earnings season. the amount of cash that companies have on their balance sheets is starting to drop. you see the chart in the second quarter, we saw a decline of the 14% on the year. that is exclude financial companies. a company cutting its cash balance can be happening for good reasons but the concern is when you have a lot of companies doing this together. when the outlook for the economy is deteriorating. how many managers are reading this, schroders is saying this could be a signal when we have higher expenses, slowing revenues, or both. even though market investors have been

today, david westin's interview with brian moynihan at 2:30 your time. -- new york time.friday was talking about how consumers would run out of savings by 2023 so i would love to get his take on that. we get earnings out for netflix and united airlines. you have seen a powerful rally. maybe a relief rally. we got through the u.k. crisis. how do you buy on this kind of thing? next week is the big earnings week. guy: we have a lot to get through in terms of earnings. that will be a huge focus. you wonder if the market feels technically driven rather than fundamentally driven right now. alix: i love me some technical. always the fun part. that wraps up monday. now we get to tuesday. the executive chair will be joining "balance of power." it is going to be really good. also tune in on digital radio at 12:00 new york. this is bloomberg. ♪ >> 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. -- in the united kingdom it a

austan goolsbee will be joining "balance of power" with david westin.omberg. ♪ millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... save hundreds a year on your wireless bill over t-mobile, verizon and at&t. just take the xfinity mobile savings challenge today to see how much you can save. >> from the world of politics to the will the business, this is "balance of power" with david westin. david: from the bloomberg studios in washington, dc, two television and radio offenses worldwide--audiences worldwide, welcome to "balance of power." joe mathieu in his position where he will be through the coverage, over at the wall. joe, take it away. joe: i'll tell you what, here we are.

scarlet: coming up next, the council on foreign relations president will be joining david westin on " power." guy? guy: i'm going off to the cable. we are going to be talking about u.k. politics. it's going to be a great show. this is bloomberg. ♪ >> from the world of politics. >> our country is facing a profound economic crisis. >> to the world of business. >> economic conditions are going to tighten. >> 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. we begin in washington where a letter from certain progressive members of congress to the white house urging their talks begin with russia and ukraine has gotten a lot of attention and a lot of confusion as well. we

coming up got balance of david westin and i am headed to the cable.is bloomberg. ♪ to finally lose 80 pounds and keep it off with golo is amazing. i've been maintaining. the weight is gone and it's never coming back. with golo, i've not only kept off the weight but i'm happier, i'm healthier, and i have a new lease on life. golo is the only thing that will let you lose weight and keep it off. who loses 138 pounds in nine months? i did! golo's a lifestyle change and you make the change and it stays off. (soft music) >> from the world of politics. >> we need to rush antiaircraft systems into ukraine so they can defend their cities and energy facilities and infrastructure. >> to the world of business. >> when we see about a third of the global economy is going to be experiencing a contraction this year with two quarters of negative growth. >> this is balance of power with david westin.

joining "balance of power" with david westin on bloomberg television and radio.gia meloni speaking right now. that is the new italian prime minister, the first female italian prime minister. we await news on exactly who will be the finance minister of italy. that is a crucial part of the mix. i am off to bloomberg radio. i'm going to be joan -- to be joined by marcus at work. have a great weekend, everybody. this is bloomberg. ♪ ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. announcer: from the world of politics to the world of business, this is balance of power with david westin. david: from bloomberg world headquarters a new york to our television and radio audiences worldwide, welcome to balance of power. we start today where we

. ♪ >> from the world of politics to the world of business, this is balance of power with david westincome to balance of power. we begin the day with china and semi conductors. the united states of america imposed restrictions of the semi conductors in china. we return now to our washington correspondent. what did the united states do exactly and why is it such an event? >>

. >> this is balance of david westin. ♪ david:

. ♪ >> from the world of politics the world of business, this is balance of power with david westin. erg world headquarters in new york, welcome to balance of power. next week is federal reserve week. today we got gdp numbers. to introduce to -- as to them we have michael mckee, the bloomberg internatio

haidi: the bank of santander executive speaking with david westin. interview coming up. exclusive conversation with the blackrock vice chairman, found that how the biggest money manager use the turmoil in the u.k. and get their outlook across asian markets, that's coming out. this is bloomberg. ♪ >> there's still much lower than they have been. consumers are spending, they have money. low unemployment numbers. shery: bank of america ceo reported a record third quarter. it's the latest big lender to paint a rosier than expected it sure of the u.s. consumer. we bring in su keenan. concerns of a recession are not visible during this earnings season. su: they see no signs of stress. you heard him say the credit card has jumped 13%. the number of cars is cut in half. the amount of savings depositor is up way up from pre-pandemic levels. bank of america is beating expectations on the strength of its consumer business, and on strong trading. you can see green across the latest session. dropping to the bloomberg when you can see the weakness. that is investm

bridgewater, going to be speaking with our own david westin.ng to be hearing from ares capital. so many conversations. as you look at the policy changes that we are going to be hearing about, here is who is going to step out and what kind of deal they are going to be looking for. jonathan: one thing you say when you get into a crisis, nothing can stop panicking when policymakers start to panic. we had the spanish deputy prime minister say that she might have to come up again. the idea that this is like 2008. not that he thinks 2008 will happen, but ultimately because it is like that kind of moment. your thoughts on that, what is your take on that conversation? ? ? have we heard that from policymakers in the united states, from the fed? in 2008, we did not see inflation like this. what does it take for them to pull back from the rate hiking? refer to some other discussion around getting rates of high and leaving them there for a long time. this is not a crisis kind of mood you're looking for if you are an investor. they are not necessarily panic

national security council admiral speaking with our david westin. rishaad: not david ingles.id: no, i'm here. rishaad: google shutting down its translate app for china, ending one of the few u.s. apps still operating in china. it was discontinued supposedly because of low usage. i guess nobody is coming in and out of china. byd had a seventh consecutive record, selling over 200,000 units in september, the first time they have done that. they comfortably beat tesla for deliveries in the third quarter. now, reality show star kim kardashian is going to pay almost $1.3 million to settle allegations she illegally touted a crypto security. the sec, kardashian used social media to promote a crypto asset security offered by a theory imax. -- ethereum max. david: we talked about this, that the u.s. might be looking to impose new restrictions this week on chinese access to new tech. a quick look at it. the lowest since july of 2020. some energy shares traded on the back of south korea raising energy prices. speaking of energy, we will talk next more about the op rishaad: 11:29 a.m. in

. ♪ >> from the world of politics, to the world of business, this is "balance of power" with david westinmberg world headquarters in new york to our audiences worldwide, welcome to "balance of power." we will start in washington. we got troubling news about an attack on paul pelosi, the husband of the speaker of the house.

announcer: from the world of politics to the world of business, this is "balance of power" with david westinbloomberg world headquarters in new york to our television and radio audiences worldwide, welcome to "balance of power." five weeks from today will be the midterms, when it will be determined whether democrats or republicans control the senate and house. there was a time maybe it looked like republicans -- it was going republicans

. ♪ >>>> from the world of politics, to the road of the balance of power with david westin.ight. weekdays. this is berg. ♪ annabelle: this is "daybreak asia". 30 minutes into the trading session for japan, it has been a good start. futures were having a mixed of, but instead modestly higher across the region at the start of trade, with the korea and japan rising 0.4%. in terms of what is driving that, you have the positive reading from the earnings season in the u.s., and other factors as well, including what we're seeing in the options market. our mliv team wending that rates traders could be calling their unjust how aggressive central banks around the world will be going forward. something we heard from from j.p. morgan at the top of the hour is the correlation between what we have on wall street and with asia. certainly seeing that today, because a major driver for us is what we see in the new york session. . but actually, on a longer-term basis, on the 60-day moving average here, we are seeing the correlation with u.s. stocks trending lower. what is driving that is what

lisa: we heard that from senator warren with david westin.was saying it is important to reduce the deficit and be cognizant of how much we are spending. it is a renewed fiscal discipline caused by where the market is. people are talking about reducing the deficits. at what point does that really push policy in that direction and hold them accountable? i would argue the u.k. is a prime example. tom: i'm watching surly, we saw the yen go through 150 this morning. for those keeping score at home, through 11170 -- 1.1170, when you go out four digits, you say that is glad night and the tips. what you probably -- gladys knight and the pips. lisa: i get that, and you rounded up yesterday so i don't even know you. tom: but sterling is weaker today. lisa: earnings rolling out of the u.s., at&t the latest. people are turning to utilities as a bastion of safety when people pay their wireless bills. at&t did beat expectations. people will pay their wireless bill arguably before their rent. people want their phones and we live with that every day. tom: pr

david westin is leading our coverage of the most interesting tuesday evening.in published moments ago from deutsche bank. it's a short note but that means it's always interesting on the nature of the money coming into america. he says this time is different. the inflows into america and the nature of them are more balanced, they are not tactical races to short-term paper. he says that speaks to a dollar renaissance, more resilient dollar. lisa: the idea that it's not just positioning. people are not moving into derivatives to hedge their that, it's people making a longer-term bet that the dollar will be the place to hide out because the u.s. economy will weather the storm better than others. at what point do something else break? we are getting procter & gamble results most they are seeing fiscal year earnings-per-share at the low end of guidance because of the dollar. this exactly speaks to that point. at what point does it become a problem for the united states in a way the federal reserve cannot ignore? tom: this goes back to unit and price. organic sales in

jonathan: larry summers there, former treasury secretary, on wall street with david westin over the weekendw york city, good morning for our audience worldwide. futures down by about .2%. u.s. bond market closed for a national holiday, columbus day. 10-year in germany 2.20%. euro-dollar 96.99, negative .5%. lower, lower, weaker, weaker. lisa: it is because of what is happening in italy and ecb living away from some tightening . certain yields in italy, spain, portugal -- or is this because of the conflict between ukraine and russia, escalation in that war? russia attacking kyiv overnight. jonathan: good news on gas storage out of germany, some high numbers. looks like they have storage to where they want it to be going into this winter, and we have to hope that it is not a brutal winter. next year though, it will be tough. lisa: you made an important point, that they have filled their storage tanks with nord stream gas with natural gas from russia. what happens when that gets taken away? especially when other methods of energy, including nuclear power plants in france, are not producing as

if you listen to what brian moynihan told david westin yesterday.dn't want to be taking on much risk. the 10 q and what they are doing in terms of daily trading losses will be interesting. goldman sachs traders are coming to work. in the press release very high up as they reorganize the lines. they show you what the consumer is getting you. jonathan: marcus -- tom: marcus it's a failure parade i don't see a failure on the plane asked the page. sonali: record net revenues and double what you saw a year ago. it beat wall street expectations by $100 million. even though this business is smaller than the rest of them they are still bringing in money. tom: i'm lost. sonali: profitability. they've raised deposits, of the saving rates much more than you've seen any of their peers. jp morgan, bank of america. goldman sachs wants those deposits. it lowers the cost of funding. it's not a business that looks like it's going away. this will be different than maybe we thought it was in the past. jonathan: i can see the number from goldman increased compared to t