let's get a first word news update with debra mao karen debra: -- debra mao. years before goldman sachs arranged the bond deals now at the heart of a global corruption scandal, lloyd blankfein personally helped forge ties with malaysia and its new sovereign wealth fund of according to people with knowledge of the matter. both solomon and his predecessor have said the scandal was the work of a few rogue employees. goldman said it believes the proceeds from the debt sale or for a development project. a spokesman declined to comment. set for its longest stretch of declines on record after entering a bear market with investors awaiting a weekend -- meeting of opec and allies. futures in new york are slipping for a 10th day, extending a dramatic plunge that had prices down over 20% in five weeks. the oil slump has been exacerbated by a u.s. decision to allow eight countries to continue importing from iran. producer nations will weigh possible output cuts when they meet in abu dhabi sunday. the owner of an irish stock exchange wants to move to brexit -- brussels aft

debra mao has the headlines for you. bra: goldman sachs is set to be facing more scrutiny over allegations that some executives dodged internal controls while investmentaysia's fund raise billions that later went missing. the federal reserve is stepping up its investigation of the bank and some individuals. the fed does not have the powers of a criminal prosecutor, but it can sanction people involved in banking scandals. goldman has previously said it believed the money it was raising would be used for development projects. softbank has set the preliminary price for its upcoming telecom , whicho at ¥1500 a piece would to the japanese company raise 2.4 trillion yen before sales on over allotted shares. businessny's cash cow is being listed and it has 34 million mobile subscribers. that is your bloomberg business flash. matt: all right, thanks very much. debra mao in hong kong with your world national news headlines. we are minutes away from the open. next, your stocks to watch, including unicredit. the italian bank is sell

debra mao has that in hong kong. oble group has one a couple of weeks of reading room. -- breathing room. they extended their deadline. authorities in singapore extended a waiver allowing the extension. the plan was thought into jeopardy when the country announced a three agency probe into its accounts. british airways owner iag is preparing a bid for flybe according to the telegraph. this would pit them against a virgin a land -- virgin atlantic. the process would be the latest move in the ongoing rivalry between iag and virgin. financier joe's presence at a board meeting was erased from an official report. the auditor general says it was done at the request of the former prime minister. it happened before the report was presented to a committee in 2016. the malaysian anticorruption division said it started an investigation into the matter. that's your bloomberg business flash. nissan is preparing for a battle of control over their partnership. after the ceo reportedly called the alliance unequal. bruno le maire said

with debra mao. thank you. the u.k.nd the european union have agreed to the final part of their brexit deal. they set out a vision for close economic ties. as investorsged saw one of the final stages of negotiations fall into place. challenge is to convince a parliament to back it in a vote. >> i will return to brussels for further meetings with president will talk about how to bring this to a conclusion. the british people want this to be settled. they want a good deal that sets us on course for a brighter future. that is within our grasp. >> renault and nissan have reiterated its work with their alliance. there is strong backing for what they call a winning cooperation. stabilizing the current structure is the best way forward. dismiss ghosn. >> we had a long exchange about as an enterprise. what is interesting is the preservation of the alliance. the group is going through turbulence and that should not be allowed to destabilize the alliance and threaten jobs. held a meeting with a malaysian financier. that follows a

here is debra mao in hong kong. attorney general jeff sessions has resigned at the request of president trump after becoming a target of the president open contempt for ceding control of the rush investigation. sessions will be temporarily succeeded by justice department chief of staff matt whitaker, a critic of the motor inquiry and now has the power to terminate .t or curve its scope chinese growth estimates has topped estimates in october. exports were up 15.6% from a year earlier, well ahead of economists forecast of growth of 11.7%. imports rose by 21% over the year. shipments from the u.s. inclined for the second month. to operatorsing around the world is provided the first clues about how bad data from an -- from a sensor might've contributed to the deadly crash of an indonesian airliner last week. statements by investigators suggest the pilots on the debt were battling the plane as the commuter when into a steep dive during its final moments of light. 189 people were killed during a crash as month. brexit is

debra mao as that in hong kong. reserve officials have signaled a more flexible gradual on their interest-rate increases after a lightweight december hike. minutes they almost all participants agreed another rate increase was likely to be warranted fairly soon. they also said the language regarding expectations for further gradual increases may need to be modified at coming meetings. barclays says he is confident the bank will be about to continue doing everything it does today even if the u.k. crashes out of the european union without a deal. in an interview with bloomberg, he says barclays is ready for brexit, which is set to take place in less than four months. anwe have been hoping for organized separation, but we have been preparing for a very hard-won. whether it is contracts are capital, we are set up so comfortably ahead of march of next year if there is a hard brexit, we will be able to do tomorrow everything we were doing today with our client base across europe and the u.k. debra: first official gauge of

anna: debra mao in hong kong.t rates unchanged at its last meaning, meaning a potential rate hike. the central bank said economic activity has been rising at a strong rate and job gains have been strong. the fomc said its outlook remains one of "gradual rate hikes." the dollar extended gains after the decision. joining us, the head of fx strategy at rbc investment management. us. to have you with let's talk about the dollar in the wake of the fomc. at one level, nothing really changed, but as one of my colleagues has been pointing out, it is what the fed didn't say. it is what didn't put them off course that is significant. the fact they weren't thrown off the rate hiking trajectory by market turmoil or fed criticism. did anything change for you last night? laura: i think the market expected it to be a nonevent and it really was the case that it was a nonevent. atkets, when we look expectations for future hikes, that was relatively unchanged. the fed have 275 for funds rate here, so limited change. were there any

anna: let's get an update on the bloomberg first word news and we go to debra mao. debra: former u.s. treasury secretary hank paulson has warned of an economic iron curtain dividing the world if the u.s. and china fails to resolve strategic differences. a new economy forum in singapore argues that the u.s. and china have interest in critical areas that go beyond trade. china entered the wpo, it has still not open its economy to foreign competition in many areas. >> we are leaving here in singapore at a moment of change, challenge and potentially even crisis. today, the region does look at the process that what until now has been a healthy as should competition that could tip into a full-blown cold war. we will bring you the best of the conversations from the second day of the new economy forum in singapore throughout the day here on bloomberg television. italy's populist government has called a vote of confidence in parliament today as tensions rise between the coalition's allies deputy premier mateo wants curbs on the rights of asylum-seekers. the vote comes as ital

anna: debra mao for us.g data across the bloomberg. 53.3%.lowing to the manufacturing number, 51.6%. you get the picture. things looking weaker than anticipated. the german composite falling, 2.2%. euroee the reaction in the this morning, giving up some of its earlier gains. at's talk a little bit about shopping phenomenon stateside, an emblem of opportunity and access. black friday is america's biggest shopping day, getting underway today. our reporter is here with the breakdown.she is american and she shops , so she is qualified. >> it is estimated the black friday alone will produce $23 billion in sales. while it once meant large crowds and stampedes, clicks are bricks.g brexit. -- a growing part of this is mobile commode retail chains investing heavily in those services. across the retail sector, mobile makes up 27% of online shopping. that is a strong trend. while everyone moves online with the choices seem unlimited, department stores have been better. this chart shows signs of a real apocalypse. retai

let's get to debra mao. she has your business flash. bra: deutsche bank has said to be considering placing senior executives who manage its relationship with regulators. member whot board served as the bank's chief regulatory officer and tom patrick, who runs operations in the americas, are among executives who might leave as the german lender comes under pressure for authorities to prove it is fixing its -- fixing internal controls. bmw is continuing to preach free trade, investing more in its massive u.s. plant as the german carmaker shows off two suv's at the los angeles auto show this week. speaking to bloomberg television, harold kruger says both models will be made in the factory in south carolina. >> our strategy is quite clear. we are producing the product in the main markets. the main market is the u.s. market. the majority of those cars will go to the united states for the united states. we will continue to invest. general motors slumped as president trump warned he may terminate subsidies for its electric car program in retali

debra mao in hong kong, thank you so much. today were asking the question, will the next 2% table to move be up or down? join the debate, reach out to the team on your bloomberg. us is the ceo of wealth management as our guest host for the hour. will the next 2% move be up or down? >> what theresa may has been able to do is come out with an agreement she structured with the e.u. and she is just about managed to get into the cabinet. few aroundanimous the cabinet table. it would be surprising if we get through the next couple of days without some cabinet resignations. it will be surprising if there isn't more talk about a challenge. that makes it look more likely but that's where the volatility is going to be. my instinct is that it won't really impact on the gilt market or equity markets until we see a longer-term direction. manus: there's a great deal to and when iten now goes into parliament, great deal can happen. it's anybody's guess, really. but in terms of failure to make it through parliament, you can look at a number o

let's get the first word news with debra mao. theresa may is defying demands to quit, facing a revolt over for proposed u.k. -- eu deal, she said she would stay in office and the public expects her to see brexit through in an orderly way. seven members of the government resigned yesterday, including two cabinet ministers. the informal leader of the conservative party's pre-brexit -- pro brexit wing officially submitted a letter of no-confidence in may. a newspaper reports northern ireland's dup says the deal to prop up the government is over unless may is replaced. >> when it is ended. the jurisdiction of the ecj, over, out of this eap come out of the cfp. that deliversit on the priorities of the british people. debra: commerce secretary wilbur ross says the u.s. still plans to raise tariffs in january on chinese imports, despite the planned talks at the end of this month between presidents trump and xi. he said at the g20 will only look at the big picture items and leave framework for further talks to resolve trade tensions. he

i'm debra mao. this is bloomberg.he markets. >> things are certainly looking brighter as the day goes on with the asia-pacific index up and some solid moves coming through the hong kong market. markets in south korea also looking quite good. the weakness is in the australian share market, reacting to the commodity falls we had last week. energy stocks took a big fall. having a look at these commodity places, the singapore iron ore futures are down the most since july, off by 4.4%. you are seeing steelmakers offload inventory with prices falling in line with declining steel prices. we did have a pretty quiet trading session on both thursday and friday last week. do we have any big corporate movers were playing catch-up today? what are you seeing on the mrr? there are quite a few stocks which have had gains of more than 5%. i'm having a look at asia in particular, up by 6.5%, the government giving it to new to those very lucrative areas tourists like to go to, including in borneo. it is up by 6.5%. to the downside, you

debra mao has this for us.he alphabet -- saying he is -- google pulled out of mainland china in 2010. companydilemma for any wanting to operate in china. >> anybody who does business compromises some of their core values. the laws in china are different than in our own country. i strugglen that with is are we better giving a decent search engine even if it is restricted and censored, then a search engine that is not very good? that is the struggle we have to our way through. >> mark zuckerberg says he is standing by sheryl sandberg as the face criticism over social networks handling of recent scandals. facebook stock has plunged july. 40% since zuckerberg told cnn he has no plans to step down as chairman and indicated her position is secure. part ofs an important this company and is leading a lot of the efforts to address the biggest issues we have. is an important partner for me for 10 years and i am proud of the work we have done together. i hope we work together for decades more to come. >> the washington po

this is bloomberg. ♪ nejra: let's get the bloomberg business flash with debra mao in hong kong.iggest aorld's similar of iphones has become the latest apple supplier to warn of anemic demand. an internal memo from foxconn seen by bloomberg suggests that expenses will be cut by almost half next year, reducing spending by almost $3 billion. the manufacture said it is facing a difficult and competitive year in 2019. goldman sachs's malaysia is intensifying with two investment funds claiming they suffered losses from the banks role. international petroleum investment and another have rightsuit saying goldman former officials to manipulate and mislead claimants and to miss use information to further the criminal scheme and to benefit personally. spokesman said the company fully expects to contest the claim vigorously. google will rollout new policies in europe to offer more transparency around political ads. yearnnouncement followed a scrutiny over how internet platforms for use to spread misinformation during elections. a lack of disclosure about who pays for the ads have become a s

i'm debra mao. this is bloomberg. tracy? >> thanks so much. cold war dividing asia after the summit in papua new guinea ending in disarray. our chief north asia correspondent is back from where he was covering events -- what happened and where do you think things started to go sour? >> as the leaders and vice president of the united states -- mike pence and the leader of -- they castgping a very stark differences of opinions on the state of global trade, and again, there was no communique that came out. i have covered a number of different summits over my 28 years, and this is the first time i have seen no communique issued. usually they can at least agree on a watered-down document, but this time they couldn't even agree on global trade to the world trade organization and the rule of settlement process, the belt and road initiative. don't take my word, listen to mike pence and xi jingping. >> [speaking mandarin] >> mankind has once again reached a crossroads. which direction should we choose? cooperation or confrontation? openness or closing

here is debra mao. weaker in early asia trading as prime minister theresa may fights to keep her brexit plan a live. pro-eu conservatives say it is the worst of all worlds, and eurosceptics demand a clean break. commission president jean-claude juncker thinks a deal will be struck soon because a disorganized split would be worse for both sides. alibaba set a new record for singles' day, with $31 billion of sales in 24 hours. the online extravaganza featured mariah carey and cirque du xiaomi, apple and dyson among the most popular brands. singles' day is a bellwether for the chinese economy, offering a gauge of consumer sentiment during the trade war. acting attorney general matt whitaker is said to have indicated he will not cut the budget for the mueller investigation, a signal fears about that would not happen in the near future. in july, whitaker told cnn he could imagine an acting attorney general not firing mueller, but just reducing the budget so low that the investigation grinds to a halt. hot an

get the first word news with mao. debraa may is defying demands to quit, facing a revolt over her proposed eu deal. she said she would stay in office and the public expects her to see brexit through in an orderly way. embers of the government resigned yesterday, including two cabinet ministers. the leader of the pre-brexit wing officially submitted a letter of no-confidence in may. the newspaper reports northern ireland's dup says the deal to prop up the government is over unless may is replaced. >> i'm going to do my job of getting the best deal for britain. i'm going to do my job of hitting a deal in the national interest. when the vote comes before the house of commons, mp's will be doing their job. they need to look at a deal, of the britishsh people to leave the european union and our city -- duty to deliver on that road. ross plans to raise tariffs in january on chinese imports, despite the planned talks at the end of this month. he said at the g20 will only look at the big picture items and we framework for further t

thank debra mao in hong kong. later we will bring you our exclusive interview with the french finance minister. that is from climate finance stay in paris. aramco'sn the program, ambitions. the ceo tells bloomberg he wants the company to become a global refiner. this is bloomberg. ♪ matt: welcome back to bloomberg markets. we are 15 minutes away from the start of cash equity trading in europe. aramco's ambition is to become a leading global refiner and chemical maker. the oil giant aims to tap into areas of the industry were demand is growing fastest while also underpinning economic diversification in the kingdom. project plans for the next decade. the ceo and president spoke exclusively to bloomberg's in saudi arabia. >> demand is healthy. 1.3re looking at between and 1.4 for this year of additional demand. next year, it will be the same in terms of additional demand. we're crossing 100 million barrels. there is a lot of healthy demand. we are not looking only at oil. ,e looking also a gas and lng at chemicals. t

let's get to debra mao with the first word headlines.eaders from across the world gathered in paris to commemorate the centennial of the end of the first world war, but exposed tensions between the u.s. and europe and underlined growing concerns of reliability of security guarantees under president trump. emmanuel macron confronted world leaders with a call for greater international cooperation. the internationalism -- isolationism and populism. donald trump will skip several summit in asia. his absence leaves mike pence to fill a void that's grown wider under the current administration, with the white house rolling out of a major pacific trade deal, flattening tariffs on allies and intensifying economic battle with china. pence said trump's decision to skip the meetings wasn't a snow. >> not in the least. he attended last year. and outlined our and a pacific strategy -- endo pacific strategy that i'll be detailing further. look, the president is where the american people will want him to be today, and that is at an american cemetery in

here is deborah marr -- debra mao from hong kong.eneral has agreed to a fine forto pay violating u.s. sanctions. the bank agreed to hand over a similar sum and that was to terminate to other cases involving bribery and rate rigging claims. the payments are substantially lower than the $9 billion paid by bnp paribas four years ago. apple shares have fallen close to bear market territory on concerns that consumers are no longer clamoring for its cornerstone product, the iphone. a record high on october 3 and the stock has climbed almost 20% as multiple suppliers have indicated that the company is cutting orders for the iphones. they can still make revenue by charging more hurt device. -- more per device. israeli officials have criticized airbnb's decision to stop renting out homes in jewish settlements on the occupied west bank. the company says it is removing 200 home and room rentals in the region. critics have long accused of airbnb profiting from rentals in illegal jewish outposts. that is your bloomberg business flash. anna: thank