let's get on to it, the ericsson story. ericsson shares trading sharply lower after the company issued a third quarter profit warning citing weak demand for mobile broadband. third quarter sales fell sharply by 14% as gross margins declined. the company said the results are "significantly lower than previously expected." now speaking with cnbc earlier, the senior technology analyst said the announcement took all analysts by surprise. >> this is worse than everybody expected, including myself. i slashed my own outlook two weeks ago. some thought i was much too low than others. in parts of the world it's truly weak. so this trend is expected to continue, and at the conference call it would be interesting to listen about what they have to say about that. it's 30% below consensus of '17, so i have to adjust my estimates down. we'll see what's happened. >> julianne joins us more to chat about ericsson. coming up a of "squak" and continuing on here for a bit. thank you. it seems to me there's a whole bunch of issues that are addi

ericsson, slumping 15%, the biggest slump since 2008. this is a big move for ericsson.s had to downgrade its outlook overall with its sales down 15%, much worse than what was anticipated. the ceo says negative industry trends have accelerated this loss. samsung had to downgrade its outlook, and ericsson as well. where do you land when it comes to technology related stocks? >> when it comes to google, facebook, but also, in the emerging world. you have some great companies, heke in latin america, witt equivalent to ebay. mindwe have to keep in that private investment is sluggish. it is knows the prize when we look at ericsson that it is it is no surpse when we look at ericsson. we are still in a very weak macroeconomic momentum. private investment is not helping. what seems to be looming on the horizon is public investment with some kind of fiscal stimulus. but i guess you can better captures this kind of fiscal exposed.by being caroline: so, this is about betting on infrastructure spending going forward. but what about when you do have these one off occurrences? we see

job losses coming from ericsson as well. guy: thank you, caroline. me.ne next to what the think of stocks right now? else, thereanything is no alternative. equities, --opean neil: for european stocks, your connect these are not quite that punchy. yields,e looking for which i think a lot of investors are, otherwise we tended feel asia and europe -- and emerging markets are offering earnings growth. guy: the market open is coming up next. this is bloomberg. ♪ guy: good morning and welcome. you are watching on the move. imed am here in london. caroline hyde is over in franklin. caroline has your morning brief. caroline: it is bad news for banks again. senior figures in theresa may's government says the prime minister will not prioritize financial services in the brexit negotiation's. the pound dropped to a 31 year low. loretta mester says the fmoc meeting is still live despite being so close to the election. how high will the word be by the end of the week? at the r.b.i.. every member of the tank now gets a vote. we are live in mumbai. value on the bloomber

ericsson taking a hit after the firm issued a profit warning.his comes a week after the telecom equipment firm announced plans to slash about 20% of its domestic work force. >>> shares of barracuda networks rising. the i.t. firm reporting earni t consensus. >>> shares of a suber security firm announcing preliminary results for q3. revenue and eps well below the street's targets for fortinet. >>> delta announcing an executive shuffle. the executive chairman retiring. frank bates will take the title of nonexecutive chairman. shares up 0.4% this morning. toyota and suzuki motor announcing plans to explore a business partnership. they say they'll look to work together in areas including safety and information technology. both off a bit in japanese trade along with the market. >>> and sprint is seeking to raise $3.5 billion and mortgaging off 10% of its wire l wirele wireless airwaves. >>> add another music streaming service to the lyncist. amazon is offering a pay music service today. amazon already has prime music, but that only has about 2 million

the announcement coming a week after ericsson announced major job cuts in sweden.oresaid they would need to stabilize operations. they reassured shareholders the company is not falling into a death spiral, saying it is not the beginning of the end where ericsson. we are a company that many years has been good. amazon is taking the plunge, dry -- diving into an already crowded music streaming area. amazon is sweetening the deal for prime customers with eight discount to subscription plans at $7.09 a month and $3.99 a month for users with an act of. have some -- they have expanded boost torary, giving a go ahead of the holiday shopping season. joining me now is our bloomberg reporter that covers amazon. how compelling the bells and whistles? i know they have tens of millions of songs. talk about the library and some script and plan and whether customers will sign up. it's a message that amazon is getting more serious about music. they've had a vanilla catalog for years and it has been subpar for real music enthusiasts. so the fact they are increasing the song catalog

-dash seven regis which leads to some ferocious jabbing just before the race the giggles put ericsson 16 yards to trust in doing this to show a site but down 36 ?-dash 21. >> the raiders do what they do best just a lamb leading dj jackson do all the work 19-yard touchdown run raiders appealing at 43 ?-dash 21 third-quarter lead but the eagles wouldal fourth ericsson short time to tristan smith and 55 yards to rumble nonvested cold was an eight points but the golden eagles defense can hang lamb the sounds of michael aubrey parker for his a second touchdown of the night and regis rules rules on to win this one at shea stadium team goals will have to wait to the end of february when pitchers and catchers report again but there's some pretty cool individual records the rockies are pursuing over the erin nadeau and his quest to two league baseball and rbi and a national league in homers his is number 41 rbis at 132 and three also a distorted at the double of the season charlie blackmon has his 80th rbi dj lemay hewitt took lemay hill took a set after going over to but still leads the natio

fortnet is down about 12%, ericsson down 20%.gest bank is selling an additional $1.5 billion of debt to raise cash, general corporate purposes. stock is just about flat. carl? >>> when we come back, more on tech stocks with the so-called dean of valuations. where he sees the market right now. plus, profiting from tesla and the growth in electric cars. a company with charging stations across the country and a lot more on amazon finally launching amazon music, another area of expansion for bezos, should apple, google and pandora be worried? in a moment. audi pilotless vehicles have conquered highways, mountains, and racetracks. and now much of that same advanced technology is found in the audi a4. with one nota♪le difference... e highly advanced audi a4, th availle traffic jam assist. ♪ did you know your business doesn't have to suffer from slow internet? comcast business now offers blazing fast internet speeds up to 250 mbps. over 6 times faster than dsl. get internet for as low as $59.95 a month. call today. comcast business. bui

ericsson reported its first loss in four years. we speak with the eric son ceo -- ericsson ceo.ing at shares, the industry, and overall at the market. ♪ tom: good morning, everyone. bloomberg "surveillance," francine lacqua in london, tom keene in new york. we are very pink today. i have an element of pink in my bloat -- bowtie as we support cancer awareness. here is taylor riggs. taylor: donald trump and hillary clinton were together again in new york one night after the final presidential debate. it was the alfred e smith memorial foundation dinner. both white house hopefuls took shots at one another. mr. trump: last night i called hillary a nasty woman. relative.tuff is all after listening to hillary radel on and on and on, i do not think so badly of rosie o'donnell anymore. startingi am actually to like rosie a lot. ms. clinton: i have deke respect for people like -- deep respect for people like kellyanne conway. because she is a contractor he probably is not going to pay her. taylor: how smith was new york's 42nd governor and the first catholic u.s. presidential candidate a

we have ericsson telling the markets that the third quarter results are going to be significantly lower. detail witha lot of and thear on year negative industry trend has further reduced the costs of the sales. lower.t will be interesting and we will keep an eye on that story, because it may have consequences with ericsson. >> this is significant, in and of itself. we are talking about the opec secretary general and this is at be speaking tol bloomberg. they prepare the first foray into the international bond market. fromm is joining us now dubai. it is good to have you on the program. what all caps happened with the bond sales there is a series of roadshows. of a are on the cusp told we arere between 10 and 15, making it the largest font initiative with the yield rates this year. you mentioned the currency and with a full plate arabia had their eye on this. obviously, they are facing negative rates and the question is the offering plan with and if there are gulf issuances. yes. it is a big unknown and the region would like this and it is regularly established andrated to levels higher

. >>> ericsson named bjore ekholm its new ceo. the appointment comes a matter of weeks after the equipmentmaker issued a profit warning. it caused shares to plunge by 17% at the time in a single day. ericsson has been without a permanent ceo since july. >>> theresa may's government is backing the expansion of heal heathrow airport. the 18 billion pound infrastructure project faces a range of political and legal challenges before a bunch of legal decisions are made. some say they feel betrayed. there will be a whole lot of backlash over the next few years. >> it's a generous compensation package offered, 125% of market value and all stamp, duty, legal costs to move house. nevertheless people are losing their homes. you understand the fear and why so many conservative mps representing people in that part of west london have come out vehemently against the plan. >> such addres boris johnson. >> boris jonson, coming out on the side of air pollution and nice quality. he said this is the wrong decision for london and the uk. >> you spok

ericsson has announced plans to lay off 20% of the workforce in the home base. swedish maker of telecom network solutions is racing to cut costs, amid intensifying competition in chinese rivals, and weak demand for specialty products. the ceo is in fomenting tougher cost-cutting measures in the coming years. the frankfurt listed shares of dirge of -- deutsche bank did seesaw, before closing up 1.5%. germany's largest lender reversed a weeklong slump.it is reported the bank we should deal to pay about a third of the $14 billion fine in the u.s. no settlement has yet been confirmed. the french luxury brand group lvmh has made its first major purchase in germany, buying controlling stake in a luxury maker for 640 million euros. bought a stake in a luxury luggage maker. i will be back with a closing word on lot -- wall street later. laura: we'll take a short break. stay with us. this is "france 24." ♪ 10/04/16 10/04/16 [captioning made possible by democracy now!] amy: from pacifica, this is demomocracy now! mr. trump: i understand the tax laws on this better than an

early in the second, jonathan ericsson gets the puck, pushes it up to gustav nyquist. the red wings strike first. later in the second, sharks turn the puck over. and nyquist is going to light the lamp again. his second goal of the game. 2-0 detroit. final seconds of the period, byrnes shoots the rebound. the ref of wave off the potential goal. replay confirms the puck bounced often the post, no goal. sharks are down 3-0 right now in the third period. how about some college football? colorado and stanford. haven't lost to the buffaloes since 1990. that's a long time. pushing mccaffrey back and looking good early on. mccaffrey gets a pitch, runs left for seven yards and the first down. later in the drive, mccaffrey going to slice and dice his way for nine yards. stanford would end the drive with a field goal that put him up three. and actually that was an interception. so fourth quart know stanford with a chance to score. ryan byrnes fumbles the snap. colorado recovers. later in the quarter, cardinals down seven. byrnes throwing deep, picked off for the third time in the

ericsson shares trading higher this morning.hird quarter profits unexpectedly grew, earnings before interest, taxes, amortization, excluding some costs rose 6% to 2.6 8 sciencesuros, crop which will probably replace health care as their biggest billion after it's $66 monsanto takeover completed, shown little growth. third-quarter revenue at the french luxury goods maker has topped estimates as strengthening demand for gucci handbags and fashion led to the fastest growth in more than three years. 10.5%, surpassing estimates for a 7% gain. wall street biggest banks face increased scrutiny from regulators in a bid to avoid a repeat of the wells fargo scandal. formal request for information has been received with on-site sales practices about to be reviewed. that is the bloomberg business flash. mark: apple shares extending their decline in extended its first annual sales declined since 2011. is apple failing to capitalize on samsung's woes? >> that is the worry because this is the perfect situation as they head toward the festive t

what is bringing the broader down is ericsson. the stock is down 20% right now. ing about $4 market cash. this comes after third-quarter results were not as good as expected. the quarterly revenue was the lowest since 2003 blind-siding investors. erickson said they expect more cost cuts. the company announcing they would eliminate 3000 jobs. a bit ofny is in turmoil after the ceo was ousted in july. juniper networks and cisco book down around 2% on the erickson news. cyber security stock also leading the nasdaq aware. this is the biggest decline in a year. reported third-quarter revenue falling. came out today and removed fortinet from the conviction list. lower the price target to $36 from $43. that is what is going on at the nasdaq. back to you at headquarters. courtney donohoe has more from the newsroom. wikileaks has released almost 1200 more e-mails it has hacked from the personal campaign clinton manager. the disclosure in the final of the u.s. presidential race has outraged democrats who blame russia state-sponsored hackers and julian assange to help repub

ericsson has reportedly informed the swedish government of its plan. of all or ints of its production sites two locations, a move that effectively ends 140 years of production in sweden. facebook wants a rematch with craigslist. the social media site will begin allowing users to post items for sale. facebook started a similar service in 2007 which was called marketplace but it sold the business to another company two years ago. two years later, i should say. companies are dangling perks like higher pay to lure temporary holiday workers in the labor market. companies are also more determined to lock in their workers at an earlier time period. more companies said they would be willing to hire temporary workers even with criminal backgrounds, than they were two years ago. that is your business flash update. it may be the six-year boom in u.s. auto sales, but it may not be over. nissan, theater, and chrysler posted sales in september that beat analyst estimates. meanwhile, for sales were almost in line with estimates, but that from the same8.1% period year

this is -- there are multiple journalists, erik ericsson, bethany mandell, multiple journalists for mainstream media outlets who have had to install security systems, and started carrying handguns. i wrote about this because i didn't want people to know my family's experience or my experience, i wanted them to know this is something that's happening in our political culture to those who identify donald trump, and particularly those people who may have multiracial families or they're jewi jewish, antisem-semitic hate. it's an epidemic, and deeply corossive to our splpolitical c >> have donald trump supporters done enough to encourage a more civil dialogue? [ laughter ] >> of course not. i mean, look, you know, steve bannon, the head of breitbart, running the trump campaign -- or is ceo in the trump campaign, and breitbart -- didn't just enable the alt-right, it is published extended piece rationalizing the alt-right, and leading some of these online mobs into attacking and harassing people and that guy is the in the middle of the trump campaign, and anne colter has consistently stoked the alt-r

. >> do you have a turnaround plan for ericsson?n a tough market for the country over the last year or so. it has of course accelerated in the third quarter. a cost launched efficiency program which continues to be implemented in order to get the space in order. these will continue. will refine and develop a strategy. it is too early for me to talk about before i campaign on january 16 of next year. it take young will to refine and develop a strategy? how long have you been given? >> it is important we work internally in the company and we take the time it needs. of course, we will end up making some tough decisions where we invest money and maybe invest less. we would take those but we do that in the beginning of next year. importantntime, it is to also emphasize we have a lot of customers that depend on a daily basis for their operations. be at the center of whatever we do and our commitment to them will remain strong. mark: can you give us an idea of the lines you continue to invest you will exit? >> i think it is too early to co

samsung down as they cut their output and ericsson down about 15% this morning.n: samsung's phones are equivalent to 2% of south korea's exports it just puts it in. european stocks also lower this morning at the ftse in london done 27 points. dax and germany done 13. nicole: looking at stock market futures we drop 200 yesterday. an indication as to when the fed may raise rates than 17% likelihood of november and december 6716 according to the fed fund futures. dow futures on 21, smp features down to. trade the oil $51 a barrel in trying to stay there. $50.99. go to $12 -- nicole: the company/unit guidance for a third order operating profit from $7 billion to 4.6 billion after it ended production of its galaxy notes that then. now since i'm aces off of apple at the supreme court over the iphone design. peter barnes has the details. >> this is the case trying to apply a patent law to new technology, specifically the iphone. in 2011 apple sues ensign claiming infringement on features of the iphone. the frame, the surface and the design of the screen, the red with th

vonnie: coming up, network equipment maker ericsson reporting the price fall in four years, will the soon be up for sale? this is bloomberg. ♪ ♪ mark: i am mark barton and vonnie quinn is in new york. this is the european close. germany's 10 year bonds are headed for their first weekly gain. mario draghi said policymakers the fx discuss tapering and rate strategist is here, good to see you again. a box with mario draghi's name next to it would there be a big kick -- tick? >> i think they did a good job managing expectation. we did not see volatility after the announcement yesterday. in previous occasions we have seen volatility. in september when they held ores and no extension of qe discussion of it we saw the spanish bond yield raise about 16 basis points in the days following and we have kind of gone sideways since the ecb announced what they did yesterday which was a non-announcement for some people . we have to watch this in the coming days and weeks, but it looks like they are actually not promoting any additional prompt -- market volatility. mark: it is highly likely they will

ericsson is the blue line, down by 30%. quickly, lovely chart, really simple. euro-dollar is the white line, down by 5% since brexit. euro-pound, since brexit, up by 16%. down against the dollar. lowest since march. it has fallen below its brexit intraday level. on track for its third weekly drop, the longest run in three months. the median forecast for the fourth quarter is $1.10. dayinutes into the trading in the united states. let's get over to what is happening -- let's go to the lisa. -- alisa parenti for the latest news. trump and hillary clinton appeared together in new york just one night after their third and final presidential debate. the occasion was the outfit easement memorial foundation dinner. it is famous for its humorous speeches. the remarks turned biting. mr. trump: everyone knows, of course, hillary's believe it takes a village, which only makes sense, after all, in places like haiti where she has taken a number of them. [boos] mrs. clinton: donald, after listening to her speech, i will also enjoy listening to mike pence deny you ever gave i

we've seen ericsson.amsung is a particular one, but when you combine that with honeywell and alcoa, it hasn't started off very well. i want to see more banks' regional focus. the good news is rates are up a little bit. i want to see about the loan growth. it's not just interest rates, things like that. we did see pharmaceutical sales today. >> all right, bob. thank you. >>> a gain of just 20 points on the dow, closing out a pretty bright trading sector. . stay tuned for those from csx and an interview with michael ward coming up on the second hour of the "closing bell." see you tomorrow, kell. >> thank you, bill. welcome to "the closing bell." the nasdaq was up about 18 points on the bell here. 18,146 is the number. s&p 2139, nasdaq composite, 5,239. meanwhile, csx trading lower ahead of its earnings which are due this afternoon. we'll bring you those numbers as soon as they do cross and speak with the ceo exclusively. >>> it's not just mylan hiking prices as prices of all drugs climb. they try to save yo

lauren: the great ericsson integer. the ftse in london at 68 points. cac of 52. we did get an inflation number out of the u.k. best number since november 2014th and 2014th and 2014th amendment u.s. vacate consumer price inflation today. nicole: no doubt. u.s. stock market futures. s&p futures attend the nasdaq up 26. lauren: oil holding $50 a barrel at 36 cents. caught up $6.50 helping some of the miners out globally 1263 announced. cole: the dollar trading this morning seeing how the greenback is faring. only the japanese yen is weaker against the u.s. dollar. the euro come the yucatÁn, canadian dollar and mexican peso are stronger. lauren: would have to checkout to yield because he saw big moves yesterday now 1.77%. nicole: cpu of all red has retired at the end of the year. he will be the chairman position at the end of march and has worked to for more than 40 years. all men will be replaced by jim campbell bay, the longtime caterpillar executive. caterpillar phase in its fourth year of declining sales, longest slump in history for that company. caterpillar sha

ericsson is suffering as well. they are limiting network expenditures after the latest cycle of investment. down 34%. year.on down by 47% this telefonica shares are lower, the biggest drop in three months. 1.2% down today. this is europe's most indebted company. he will cut its dividends after selling to keep a wireless unit and canceling a share sale of its cable division. it's a bit of a turnaround for the company. its chairman said a couple of months ago the payout was sustainable. it shows the business is under pressure to pay down its debt. shares in telefonica down by 1.2% today. 90 minutes into the trading day in the u.s. let's get over to the markets desk. what have you got for us? julie: you can see all three major averages are sure. nasdaq is down the most. if you look at it, is a reversal of where we were trading going into the cash open. if you look at features and the andectory of the e-mini's that overnight we were trading lower than the lowest point of the futures and the overnight session. we saw st

early in the second, jonathan ericsson gets the puck, pushes it up to gustav nyquist. the red wings strike first. later in the second, sharks turn it over. and that's trouble because nyquist is going to light the lamp again. sharks get shut out for the first time this season, 3-0 the final. >>> college football, colorado/stanford. the cardinal haven't lost to the buffalo since 1990. stanford up three. buffalo is up 7-3. fourth quarter, cardinal down 7. under 2:00 to play. ryan burns going deep but he's picked off for the third time in the game. stanford losing a shocker, 10-5 the final. >>> the bad news for giants fans, the giants didn't win the world series. the good news, the dodgers won't either. l.a. fell to chicago 5-0 as the cubs won the nlcs in six games. it is chicago's first pennant since 1945. it will be the cubs and indians in the world series. game one is tuesday in cleveland. of course, the last time the cubs won the world series was way back in 1908. that will do it for sports. more news after the break. 600 dollars. of abuse. prop 61. important step forw

ericsson, $1,150,000. bhp, $175,000 in 2012. lightning $1 million. barclays $700,000. it goes on and on. so a lot of money involved. a lot of donors. and more issues out there from the wikileaks stolen e-mails that perhaps hillary clinton campaign has to deal with. carol? >> all right, joe johns reporting live from washington. thank you. so let's talk about all this. with me now is jason johnson politics editor, and jay newton small "time" magazine contributor also the author of broad influence how women are changing the way america works. thanks both of you for being with me this morning. >> glad to be here. >> good morning. >> good morning. so jason, it's interesting that mr. trump finally sat down with a network other than fox news and this interview included his whole family. smart strategy with just twelve days to go? >> i think, carol, it's a very, very smart strategy on the part of donald trump. i think that a lot of the things that he's done since the third debate are things he should have been doing earlier. he's laid out specific plans. he's taking time with

more problems for ericsson and competition in asia, the swedish firm has lost a quarter of its markets month alone, definitely on the move frp. from stocks to bonds, keep a close eye on bonds in portugal today. in less than an hour, dbrs is expected to update investors on portugal's credit rating if portugal is downgraded, it will no longer be eligible for the ecb's qe program, which would have large negative consequences on portugal's financial stability. we'll get you that announcement when it comes out. back to you. >> thank you. a quick check on at&t and time warner. at&t lower by 3%, time warner up about 9%, as dow jones reporting they are in advanced talks. david faber reporting they have indeed held talks. we spoke to barry diller at the establishment conference in san francisco yesterday, and here's what he said on media toll takers and a possible time warner/at&t tie-up. >> they could try. right now they're kind of paying people. but look, the reason there were toll takers is because there was scarcity. that was the reason. first there was scarcity of radio spectrum. then the

the swedish telecommunications giant ericsson had reportedly sold iran equipment that could be used to track its citizens. meanwhile, another hacked email written by one of bill clinton's closest aides shows how the former president clinton has personally profited from work tied to the foundation. the aide, doug band, writes that he helped secure $50 million in speaking fees and other ventures that went directly to bill clinton. in the email, band described the for-profit activity of president clinton as "bill clinton, inc." meanwhile, in another hacked e-mail, chelsea clinton accused her father's aides of taking "significant sums of money from my parents personally." in other campaign news, donald trump took a break from campaign trail to open a new luxury hotel in washington, d.c., just blocks from the white house. this comes as more signs are emerging that the republican's presidential run may have done permanent damage to the trump brand. in new york, more than 300 residents of the large apartment complex known as trump place have signed an online petition titled "dump the trump na

amounts of money that bill clinton was paid for speeches including $900,000 to ubs, $750,000 from ericssonat he called $400,000 for a private plane, bhp paying $175,000, barclays $700,000 for two speeches. all of that gives you a sense of how intertwined bill clinton's foundation, personal business, and a private company called taneo all were. the clinton campaign has put out a statement saying we are not confirming the authenticity of individual e-mails hacked by the russian government to influence the election by weaponizing wikileaks. that's clearly part of what's going on here, guys. we are getting this hack that now gives us astonishing insight into the communications back and forth between the clinton aides over all of these financial arrangements. and you see some real disputes spilling out in these e-mails as some of the aides clearly thought it was inappropriate, needed to be spoped, some were pushing forward and saying there was nothing wrong with it. we'll have more throughout the day, carl. >> all right. thanks. i'll take it, eamon. fascinating now bhp got a better deal than ev

president bill clinton's secured pay speeches and donors to the clinton foundation, ubs, $900,000, ericsson, $1.1 million. bhp, $175,000. lightning $1 million. barclays, $700,000. so cnn did reach out to ask about all of this and they put out a statement that said they did not receive any financial benefit from the relationship with the clinton foundation. they say tineo worked to encourage clients where appropriate to support the foundation because of the good work it does all around the world. carol? >> joe johns live for us this morning, thank you. for his part, clinton's campaign manager, well, he's now warning against voter complacency. >> donald trump has been going around telling people not to listen to the polls and saying he can still win this race. well, you know what? he's absolutely right. hillary's got the wind at her back but we can't become overconfident. >> okay. let's talk about all of this. david gergen is here, former presidential adviser to nixon, ford, reagan and clinton and patricia murphy, columnist for the daily beast and roll call. david, the latest revelations from

looks at -- look at ericsson share, down 80% the most since 2007.he phone manufacturer reporting sales, earnings that significantly missed its segments -- missed its predictions. companies rein in spending. the pound after four days of the kleins, look at the rebound. .f a by 1.3% biggest gain since july after falling 5% in the previous four days. theresa may accepting parliament should be allowed to vote on her brexit plan. oil a little bit higher today, the one dollars, nearly 15 month high. russia sending mixed messages. i want to show you this chart as we approach the minutes of the last fed rate meeting. this is a gauge of inflation expectation. this is a gauge of inflation expectation. expectation. notice the five-year five-year fall away -- five-year forward. from 2021imb to 1.5% to 2026. it is the closest since may. that is the middle of june. inflation expectations are rising in the u.s. even the fed's referred measure -- if you strip out food and energy. inflation expectations are rising. it plays into tonight's minutes. how deep is the ha

. >> there were treats like flip the ticket from eric ericsson, republicans including the never trump republicans all praising mike pence for what they believe being presidential. >> mike pence showed everything that donald trump did not show during his first debate. he was composed, calm, he didn't let senator tim kaine get under his skin. he was able to deflect criticisms and turn them, pivot to more friendly territory. in doing that he created something of an alternate universe where donald trump doesn't insult people, which is frankly not true after being on the campaign trail with him for 16 months. he also did say that donald trump did not say that south korea, japan, saudi arabia should have nuclear weapons, even though donald trump did say that on two occasions. he was quite different from trump on subject of russia and putin. he called putin a little man. donald trump called putin a much stronger leader than president obama. governor pence that done so in the pence as well. he talked a bit about syria, saying they would need to take action, military force against potentially

ericsson, $1,150,000. bhp, mining and petroleum company, $175,000. lightning, $1 million. barclays, $700,000. so it kind of goes on and on. tineo did release a statement to cnn last night saying it did not profit personally from any of the things that bill clinton was doing and that they participated in all of this because of the good work of the clinton foundation. back to you. >> joe johns, thank you so much. there is a lot to discuss this morning including this big bombshell article in bloomberg which if the gods are with us, we will get the reporter on the phone in just a moment. meantime, we are joined by cnn political commentator, republican strategist kevin madden, political writer for the atlantic, molly ball, trump supporter and member of the hispanic advisory council, steve cortez and hilary rosen, hillary clinton supporter. we ended with wikileaks and the clinton foundation so let us begin with wikileaks and the clinton foundation right there. we know this comes from a hacked e-mail. that is unfortunate. we understand it would be embarrassing to have anyone's e-

caroline: one to watch is the niche effec -- chief executive at ericsson.rting as the new see and knows the business inside out. this is bloomberg. ♪ guy: this is the european open, i'm guy johnson in london. caroline hyde is over in berlin. we are moments away from the start of european trading. caroline has the morning brief. caroline: bonus bashing. cash may become stock for deutsche bankers, as the lender considers options to boost capital. how critical is it to john cryan? catching a falling pound. sterling bounces after reaching flash crash lows. mark carney says there is a limit to how much he will tolerate. where is the line? stalls,e reporting its first annual sales declined in 15 years. can iphone, inc. change strategy? we speak to an expert to says no. plus, do not miss conversations in coming ua few moments. guy. guy: markets open. let's take a look. this is the picture right now. we are seeing the london market fading a little bit. we've picked it up in the auction process, a mild move to the downside. markets are called down by .2%, pretty muc

this company has been run by the the top jobfired by in july, a profit warning wiping 20% off of ericsson'sue. let us get other breaking news. news coming through from -- sales, 38ker, q3 point cents billion euros. that looks to be a touch ahead or in line with the 30.4 billion that was forecast estimated. adjusted, 4.0 one oflion, ahead, nicely ahead 36 6 billion that has been estimated. the company is saying they are well on their way to reaching their for your target, well on track to reach for your earnings targets, and that was a question about whether they would stick to their earnings outlook. they had previously talked about earnings this year being slightly higher than 13.8 billion euros. no big change in the earnings outlook right now. people are looking to see how they have been doing in china with the e class sedan, heavy trucks and the united eight. heard from volvo about their business in the united rates, fit -- in the united states 15 minutes ago. we are looking for any details there. a new edition of daybreak now available on your bloomberg and mobile. let us have a look at

taylor: job cuts on the way at ericsson. it will eliminate 3000 jobs in its home company.he parent of louis vuitton is buying a majority stake in the majority luxury suitcase maker in germany. the seller is the grandson of -- the bank of japan's easing policies may have come to an end. potential buyers can get mortgages at slightly over 1% but some are being scared away by the prospect of stagnant wage growth. that is your bloomberg business flash. francine: thank you so much, taylor riggs. this is what we heard from the cleveland fed president, saying the u.s. economy is ripe for a rate hike. she said the case for a move at the november fomc meeting will likely be strong despite its proximity to the election. >> taking another step on that gradual path, and there are some people who think, you want to curtail expansion. not at all. the reason i think it was appropriate to move the rate up 25 basis point as we want a sustainable expansion, and i think moving rate up is consistent with that. francine: let's get to kit juckes. it would be pretty punchy if you were to hike in

emma: job cuts are on the way at a swedish networking company, ericsson which plans to eliminate 3000and cut production and tom country. it is facing increasing competition from nokia and waning demand. vuitton is of louis toing a controlling stake the tune of 78 billion dollars -- $78 million. rimowa made the first aluminum suitcase. the deal between southeast airlines and its pilot may be in jeopardy because delta airlines has a pending deal that would pay its pilot more. southwest pilots union wants to renegotiate some sections of an agreement reached at the end of august. that is your bloomberg business flash. david: roger altman is still served in thes clinton administration and is a supporter of hillary clinton and the current residential raise. are the markets pricing and the possibility of a donald trump presidency question mark >> no. at least not in my judgment. they are not doing so because of where the race stands. if you look at clear politics now and the betting odds, 75-25 probability of a clinton victory and you look at the tossup states, the only one donald trump is l

we start with ericsson, wrapping up a disastrous third quarter by reporting their first loss in fourere are no plans to sell the company, at least according to the engine -- interim ceo. >> as far as i know, the company is not for sale. the company is very largely supported by longtime owners. we have a presence in over 181 companies, lots of great companies. we had a challenging quarter. we have to manage that in a good way. david: the company's net loss, the first from 2012, was more weredouble what analysts expecting. senator has sent a letter regarding mylan. she says the doj is to find what $55 million less than they earned by defrauding medicare and medicaid. a 50-year-old woman who died in a car accident last month is the to takata due airbags. they inflate with too much force, causing a metal canister to burst and spray shrapnel. vonnie: coming up, ray martin once more millennials to drink cognac. we will tell you all about it. this is bloomberg. ♪ vonnie: you are watching bloomberg. i am vonnie quinn. mark b.: i am mark barton. this is your global business report. estimates

. >>> other stocks to watch today, ericsson taking a hit after the firm issued a profit warning, thisoming a week after the telecom equipment firm announced plans to slash 20% of its domestic work force. >>> shares of barracuda networks reporting a rise if profits. its ceo will join us at 8:40 a.m. eastern time. >>> and sames of fortinet slashing its outlook. preliminary results for the q3, revenue well below the street's target. the stock falling 13.5% in extended hours. >>> amazon is launching a paid music service today that will cost $8 a month for prime members or $80 for the year if you buy an annual subscription. non-prime members will pay $10 a month, owners of the echo device will pay $4 a month for a version of that service that only works on that device. amazon already launched prime music, that only has about 2 million songs. the new service will have tens of millions of tunes. they want to get bigger into the grocery business. >> it's interesting because you look at all the grocery operators, you look at what target said about the grocery business, you wonder is that a goo

ericsson said fell during the third quarter.ccount for weaknesses in targets. a $40 billion takeover bid for british american tobacco. the bid is worth 56.50 per share and involves the 58% of reynolds that british american tobacco does not already own. >>> let's get down to the new york stock exchange. jim cramer joins us now. i saw you tweeting about people that have stuck with esterbrook and you're one of them and you're not surprised today. >> no, look, this guy is the real deal. he hasn't even started loyalty program yet. people like to go there. he knows it's a treat. he's trying to make it more natural organic over multiple years. he can't do it overnight because he would wreck the whole food chain. away from natural organic, the food chain is, i think he's a remarkable operator. i think he keeps getting sold short. people keep coming up with things saying it's all over, one-trick pony, he's anything but that. he's also energized. watch technology he puts in in the next year. he is the real deal. we got to stop saying thos