hugh are watching "daybreak: australia -- you are watching "daybreak: australia." about turnbull's new number two. will be a question that quite a few australians will be asking themselves is running. who is michael mccormick? he is 52 years old and a former journalist. publisher, heas a is relatively unknown to the general public in australia. is the veteran affairs minister. he has jumped from a position of relative of here need to become the deputy prime minister of australia. he was selected as leader of the -- party.already ofdi: the less and in terms how our international viewers might not have been looking at the headlines. fill us in on terms of how our international viewers might not have been looking at the headline. >> one of the local tabloids revealed that burnaby is a father of four and had an affair with his media advisory. she is now expecting his child. this would not go away. it prompted a very interesting debate in australia europe banks. what should be private and what should be paraded on the front page of newspapers. it prompted a debate as to

that is it for "daybreak: australia."ok at what is coming up over the next two hours. aviation in focus. yvonne: that's right, we are heading to the skies. it is asia's biggest airshow happening in singapore today. we will be kicking off with alan joyce, the qantas ceo. aboutt to talk with him they have been plowing their resources into the region, also long haul flights to europe. how he views international competition at the moment, are there signs things are updating, getting moreg or intense? given new services, how will that impact domestic business? a lot of questions for mr. joyce. kathleen: and after that big jobs report on friday in the out showed perhaps some celebration in wages. will it take for rate hikes in the u.s. economy? the chief economist at the bank of singapore, we won't talk about what -- we will talk about what he sees on that front but also asia this week. you have the reserve bank of india and a lot going on. richard will touch on all of it for us. haidi: there are some essential questions for th

. ♪ >> you are watching "daybreak: australia".he australian earnings season wraps up this week with very big names due to report including glencore and bhp, but before we do that let's get a review with paul allen to tell us what we have seen so far. what is the verdict here? verdict is not too shabby, the bank saying this is one of the strongest seasons in the past 15 years in australia, and the numbers breakdown like this. 28% of companies have upgraded at 1% or more, and that compares to 23% that had gone grades, at least about four results from commonwealth bank, and west farmers, the proper outlook will be 6/10 of 1% higher, so overall, it is not as shabby as it seems, but there is underlying strength in the australian profits, and that is backed up by number data as well if we take a look at our own research. more than halve companies reporting so far have had positive earnings, and it is a big week coming up for bhp due to report any minute now and is expended to be strong on the backs of surging commodity prices and we hav

that is it for "daybreak: australia". day, tracking get another day of losses on wall street. this is bloomberg. ♪ in hong kong,.m. i'm yvonne and look at the "daybreak: asia". is aop stories this friday correction come at s&p 500 closes 10% below january's record as rate hikes worried returns to the market. falling inc stock is a downward spiral, and the kleins of at least 2%. -- declines. the volatility index is more than double it week ago, and 10 year treasury yields retreat from your for your highs, but it is not simply an adjustment.

is 5:30 and you are watching daybreak australia. let's get the news from singapore. >> trump has tweeted that russia has created discord, disruption, and chaos within the system. he had previously questioned if they were behind efforts to meddle in the election, something he replayed it during another tweet, referencing his comments from the 2016 campaign. revealed details of a coordinated effort to influence the united states election. 65 people on board are feared dead. it came down in a mountainous the place0 miles from it took off. own by the civil service and specializes in flights across the country. have exposurethey -- in a case linked to a driller. from have been arrested the scam, including two employees who are accused of using fake guarantees to fraudulently obtain loans. the latvian government says they will reveal why the bank governor was detained. a lawyer said that his client was being held at the state police station and was not charged. he said -- he did not give other details. he is part of the governing council.

. >> you are watching daybreak australia. hyman and gina martin adams.e want to get back to heidi. imagine the damage you can see when it comes to japanese equities. >> we have seen a very broad selloff. there is no way that asia will escape that but for nikkei futures, even after the bell closure of the u.s. markets, we have seen pressure on the futures trading in chicago. it could be something on the order of 5% declines on the open in japan for the nikkei 225. we will see the -- how much of a shakeout. there is disagreement we have heard around people in the markets, we are spoken to investors, traders, and people around the market. we are interested in what caused it and whether this does count as a flash crash or if there are elements in securities that were not moving on a fundamental basis. there is nothing specific we can point to at this point where we can say this is definitely a flash crash event. this wasn't a move about market fundamentals. >> that is a lot to some up in a short amount of time. traders are signaling the abrupt pullback is li

. ♪ ♪ vonnie: this is "bloomberg daybreak." australia'sr is heading of the country's biggest ever delegation to visit the united states. malcolm turnbull meets president trump at the white house tomorrow. the transpacific partnership will be up for discussion, among lots of other things. we're joined by australia's minister for trade, tourism, and investment, who will also be at the high-powered meetings and will meet with wilbur ross, the commerce secretary. talk to us about the tpp first. it is sort of dead from the u.s. point of view, because the u.s. the u.s.if -- but if were decide they wanted back in, without the on the table? guest: the 11 of us that have come together to form what is now called the tpp 11 represent $13.7 trillion worth of economic activity. we have left the door open for the u.s. to come back. we weren't surprised, but we were disappointed when president trump took the decision to withdraw the u.s. from the tpp, but if there's an opportunity for the u.s. to consider coming back, we think that would be a terrific ou

plenty more to come on "bloomberg daybreak: australia." this is bloomberg. ♪ ♪ ramy: welcome back.e latest business flash headlines now. uber is said to be paying about $245 million to resolve allegations that it was involved in a plan to steal information from waymo via a senior employee. that case capped a year of sandals -- scandals that forced ceo travis kalanick to resign. haidi: disney has raised ticket .rices sunday's price rises see tickets for california's disneyland rising to $135. ramy: coming up in "daybreak -- don't miss it. this is bloomberg. ♪ haidi: it is 10:00 a.m. image sydney. we are live from bloomberg 6 trillion headquarters. welcome to bloomberg. $5 trillion in equities prepare for another rocky wide -- ride. japan willernor of get a new -- the governor of the japant -- the bank of will get a new five-year term. ony: we are just past 6 p.m. sunday. accusations of banks in australia include

. ♪ ramy: this is "daybreak asia." australia's sector will come under scrutiny a governor, when appointed commission begins its year-long inquiry into misconduct by banks and other service providers. this is a minute long evidence longte rigging -- amid evidence of rate rigging. our finance reporter was listening to opening statements this morning. how did we get here? about allegations of misconduct with rate hikes and high levels of been profitability. there has been growing consumer resentment about the high levels of profitability, combined with a mantra list of allegations of misconduct. pressures have come together, and eventually the government under much pressure about it to calls for a judicial lead independent inquiry. we are getting live pictures of day one of this 12 month long commission taking place. this we are is being presided ba former high court judge. we will hear opening statements this morning. members of the press are key me a waiting what is to be said. this issue of profitability, there was a story put out

daybreak asia." breaking news out of australia. wage price index numbers coming in. quarter,n corner, -- up.ted uptick. as for year on year, that is 2.1%. the survey was for 2.4%. this is ticking up over the last year and a half. it had been lower at 1.9% since september of 2016. if you look at it since 2008, it has been falling lower. yvonne: we have been at record lows when it comes to wage growth in australia. any big uptick could be risky when it comes to bonds. especially with the wage data on the u.s., really send bonds tumbling. the aussie dollar, you can see that pop, popping higher after we saw the 0.6% uptick when it comes to wages. not exactly going to move the needle for the rba when it comes to turning hawkish. we are thinking they will not talk anytime this year. we did hear from philip lowe on friday that he has been hearing pockets where the labor market is tight, trying to find the right workers with the right skills. we are seeing those rates pressures rise. we could be getting back to that 80 handle soon, perhaps. let's get to first word news with jessica summers. london-b

australia. this is bloomberg. ♪ yvonne: this is daybreak asia.ty: we have been talking about australian prime minister meeting donald trump at the white house on friday, and the transpacific partnership high on the agenda. the nymph raleigh as part of this australian delegation and joining us now from washington, of experience in financial services and is the former head of blackrock australia. how is the trip going so far? i came down to washington today, and our premier of queensland in australia accompanied me yesterday in new york. we met with blackrock and they came down today and attended a lunch with lucy turnbull, who is the prime minister's wife. it sounds like a big, high-level welcome rolled out for your delegation. what do you want to achieve out of this? what will be a success out of this trip? >> there is a lot of talk in the u.s. around infrastructure and are has been for some time. the head ofns and interest that your business and real estate business -- we are interested to understand where the debate is going terms of infrastruc

australia right now. the markets open in seoul and tokyo, coming up. 20 more to come on "daybreak: asia."♪ >> 8:00 a.m. in hong kong. we are live from bloomberg's asian headquarters, i am yvonne man. welcome to "daybreak asia." asia-pacific stocks brace for a selloff after the dow's biggest fall in 18 months. there is concern the fed will pick up the pace of hikes. bitcoin is now trading around $8,000. bloomberg's headquarters in new york, i am kathleen hays where it is just past 7:00 p.m. on sunday. jay powell will be sworn in monday. janet yellen says she is disappointed to leave. the samsung era returns to court. prosecutors want the prison sentence doubled. we are live on this in seoul. ♪ ♪ >> what started from bonds, you can see both of these falling in tandem here. it is remarkable what we have in terms of the breadth of the market. take a look at my chart here. this is the first time we've seen this selloff when it comes to u.s. stocks and selloffs since 2009. it we have seen the pervasiveness of this has been remarkable, 11 sectors declining. we haven't seen that underperformance