juliette: fiat chrysler world -- will -- of buyers.kr offered less than the 6 billion euro minimum valuation, which ended the exclusive it he of the talks -- exclusivity of the talks. the unit prepares to separate them a land-based company and distribute shares to investors andhe melania-based company distribute shares to investors. sanctions have frozen a russian aluminum giant out of annual contract negotiations. that could disrupt supply chains critical to the industries. the global aluminum industry has been bracing for further turmoil ahead of an october 23 deadline. says he ceo jamie dimon is done with politics and blames much easement for his claim -- machisimo for his claim he is smarter than donald trump. he says the current administration is handling the economy well. last week he boasted he could beat the president in an election. >> i should not have said it. more out of frustration and my mo. much you simao -- machisi it proves i would not be a good politician. nejra: thank you. let's take a look at live pictures. it is 1:

no intrinsic value with any fiat money. the announcement of existentialism from government central banks. trillions and trillions of dollars pounds and yen we are singing because were here because we are here because we are here a popular term - - tune in world one when fiat money came into use all the world today we got it because the government says we have got to. it is supposed to be worth something for the lousy parent reason frustrated and the government tells us like we tell our children because i said so. so the crypto currency is that the answer cracks that is one of the glad you asked that question question. politicians always say i have no idea what the answer is. as a libertarian i want to medium of exchange the money that adheres to the libertarian principles. actually money that adheres to one principle would suffice as far as i'm concerned. so what i do that does not physically harm is none of anyone else's business. and those two most sense of privacy. that is not subject to government public policy. as much

this is fiat from the binding edict or cheap and not reliable car. backed by nothing that the government will not keep printing money. [laughter] such as toilet paper which is what it has come to in venezuela. no intrinsic values are involved in any fiat money it is a pronouncement of existentialism. trillions anden trillions of dollars pen - - en and euros. and that is when the fiat money came on. and all the money in the world today. the government says we have got to. that is the lousy parent reason frustrated and inept government tells f us what we tell our children, because i said so. is crypto currency the answer? >> i'm glad you asked that question. and to say i have no idea. as a libertarian i want a medium of exchange to adhere to the libertarian principles. and money that adheres to one principle would suffice and that is the privacy principle. that does not physically harm anybody else is not anybody else's business. that would be the private kind of money libertarians want. and in the two most important sense it is not public is not subje

this is fiat money from the latin word for a binding edict. also an italian word for a cheap and not very reliable car. [laughter] fiat money is backed by nothing but faith that a government won't keep printing money until we're using it in place of something much more important such as toilet paper, which is what things have come to in venezuela. and it's not just by any means the venezuelan bowl very. it's just a pronouncement of existentialism from government central banks. trillions and trillions of dollars, euros, pounds, yen are singing we're here because we're here because we're here because we're here. which was a popular tune in the treason. s during world war i, appropriately enough because that's when fiat money came into general use. all of money in the world today is fiat money, we've got it because the government says we've got to. by yacht money's supposed to be worth something for what i call the lousy participant reason -- the parent reason; frustrated and inespecially government tells -- inept government tells us, because i s

on the downside, another big story is fiat.g for new bids for a spinoff of one of its units after it said kkr's and offer was too low. matta, anna? matt: some of the stocks on the move there. i want to focus on emerging markets. the indian rupee fell as traders deemed the measures to rein in its decline as an adequate. -- inadequate. franklin templeton investment says it may be nearing a bottom right now. geoff yu joins us. is it too early to make a bold call like that? guest: i think it's slightly too early to make a bold call on emerging markets, especially fx closure period. it's not really a crisis. we do have pockets of major risk, but i don't think clients or investors are looking at crisis. there will be opportunities coming through but with so much volatility and u.s. politics, global tensions, heading towards year-end and the prospect now the fed is answering its policy, why take the risk now? anna: where are we viewing emerging markets now? reform is not enough, the indian rupee falls once again. i have a chart that s

questionn about what is next for fiat chrysler.lation that the company would seek a merger. is accusingfounder conspiring to of himhim from the -- oust from the company. the founder step down after admitting to using a racial slur. alix: thank you so much. we will drill down on wages and the impact of a has had on the sector. companies like nucor, alcoa may have benefited from the increased tariffs on steel and aluminum. will they pass that on to their workers? gina smiley, are we seeing a positive impact from the trade war on this front? gina: one interesting thing in the way this has played out on the ground is you have seen one ine bonuses, not increases base pay. what steelworkers are campaigning for is that increase in base pay that they have not been seeing. they have seen increased money from profit-sharing, but with a want is something more sustainable that can last. i think that is interesting because it plays into this broader story in the labor market where you are seeing a lot of one time or nonwage benefits rather than

he is taking a company building less than 100,000 vehicles a year compared to fiat chrysler that does a year and ramping into a real company. in a sense tesla is an adolescent, and they sometimes do a little crazy things, so you have to be patient with it and see what happens look, the guy is an extraordinary guy. we'll see how this plays out he sure is doing something special. >> thank you both for joining us today. mike volpi, mike santoli >>> twitter is banning conspiracy theorist, radio host ntvey.f es after weeks o corors "squawk alley" will be right back n speak to the future. n speak to the future. ♪ ♪ i'm going to be your substitute teacher. don't assume the substitute teacher has nothing to offer... same goes for a neighborhood. don't forget that friendships last longer than any broadway run. mr. president. (laughing) don't settle for your first draft. or your 10th draft. ♪ ♪ you get to create the room where it happens. ♪ ♪ just don't think you have to do it alone. ♪ ♪ the powerful backing of american express. don't live life without it. >> stocks are mixed to finish the week

it's hitting gm and fiat chrysler.will effect consumers. >> it will effect the bottom line in terms of what consumers are paying. we don't know to what degree. it's taking some time for the full cost of more expensive aluminum and steal to go through. it's not just the panels on a vehicle that are being impacted here. it's the aluminum and steel that goes it's the aluminum and steel that goes into thousands of components. then the automakers have to make a decision. see as a result it's too early to know exactly how much prices will rise, but the expectation is, yes, prices are going to go up because of higher raw commodity prices. the president it's not going to be as quickly as he says he could do it. that's a huge threat, particularly for generation motors, fiat, chrysler, toyota, honda. it they all have a huge presence up in canada. canada is the number two country after mexico in terms of vehicles we import from another country. so it would be devastating if we were to see tariffs slapped on vehicles built in cana

john: does it stay a digital store value or does it become a fiat currency?k it stays a digital store value. currencies need to have stability. the dollar yen moves plus or minus 10% over ten years. bitcoin has moved 60% this year. you're not going to buy that suit monday and a day later say it's a lot more expensive. you really need stability. you look at currencies, fixed supply currencies never work. they are too easy to squeeze if they get accepted, the price keeps going up. i like to think of it like gold. gold has an $8 trillion market cap. bitcoin has about $120 billion market cap. has adoption come as all the young people get older and say digital store value makes a lot more sense than clunky old gold that sits in a safe. john: so far, crypto currency's been a retail story. you said the institutional investor is coming which is a very bullish argument. when does that manifest sifitse? >> there are four big buckets. one is custody. you already had back twitches, subsidiary of i.c.e., new york stock exchange. jeff sprecker and his team are putting out

would recommend i know reinhold needs to know how to get into fiat's pick out first steps on the sidesill and then reaches for the hagel inside the a pillar for the rest is easy on the fly no sees that inside the fullback looks like a normal car with the usual instruments and a five speed automatic transmission he'd like one more gear for when it's necessary to get from one building site to another on the highway. this is where the optional navigation system with its seven inch touchscreen comes in handy. climb that i know has another tip a covering for the load bed almost turns this pick up into an s.u.v. i don't assume. another point in common with s.u.v.s is the room for passengers and back the double cab is the only body very in available for the new full back cross . the materials and workmanship are more passenger car and utility vehicle quality . pick up a lot of load bed is one point fifty two meters long big enough for nearly anything you'd want to transport construction sand for example or a cubic meter of beets or the neighbors old dog house to the dump. pull back crosses p

not much thought as old as modest as critical seem good no mark by microsoft at my assets for the fiat to see if he should i see def i had ever to invest the surveyed for titus in saigon but been in fact i think he system much of he in fact up has been so holds it in because i mean the country. and doug who got it and of course a tie just kinda found in school districts who didn't have a conscious and of us that you force fed on classes for prudence fanzine of the ins i had to fetch and train moving lissie for boston and often on site i bet you can get them but yet on from behind. never was an anti-war movement that's baloney it was always in and i american go when it was a movement to take down america and the left didn't care one iota about the vietnamese people the left is still operating on a map marxist paradigm that is that the world is divided into the oppressors and the oppressed the model is always there are some people holding everybody else down and that's a. false destructive evil model is what it is. che guevara appeared to them to be champions of the powerless and the opp

type that my father sold as modest as critical seem good mom had by microsoft at my assets for the fiat to set some should have a vested def i had to have a divestiture of eight fatalities in saigon but beneath the he system much of he in fact got his bone so how is it him because i mean the kind of. doctor who had to end a course otitis can defend and still. i had a conscious at intervals that you for a long passes for blue don't fancy him of the inside of a train moving less if i wasn't one of the nuns i'd have any can i get someone but yet on from behind. i never was an anti-war movement that's baloney it was always in every american vogue and it was a movement to take down america and the left didn't care one iota about the vietnamese people the left and. well che guevara appeared to them to be champions of the powers of the oppressed. choo shoes they should own what laid down a body. and were to try to hunt door and most orphans just should do shisha you should have been there calm and lectured at some short. time ago it's young mom she will see that the change. five into the hands

model for the much what i sold as modest as critical single mom had by microsoft at my assets for the fiat to see if he should have arrested jeff i had to have a divestiture of aid for tightish since i got in the bin in fact id he system much of in fact i was born so i wasn't in because i mean the country. well documented and of course the tightest conduct found in school as fitz wouldn't be conscious. of us would you force fed on classes for little miss family and of the ins i had to train moving lissie focusing on off to an on site event you can get someone but you have to come from behind. you never was an anti-war movement that's baloney it was always in a way american though when it was a movement to take down america and that left didn't care one iota about the vietnamese people the left is still operating on a map marxist paradigm that is that the world is divided into the oppressors and the oppressed the model is always there are some people holding everybody else down and that's a. false destructive evil model is what it is. che guevara appeared to them to be champions of the prow

so taking on the fight of our current fiat currency controlled by a federal reserve is not a fight i've chosen to take on. i mean, i have not been an advocate of returning to the gold standard. i have been intrigued at times, of urrency, to basket commodities. i have studied that proposition before. so i think number one probably not a whole lot of appetite to be taking that on. simply because also something else i've learned in my career, not that it's -- we put forward some reforms in the federal reserve. i like making speeches, i like making vote, most importantly, i like make progress for the does of inlerity and as jefferson said the ground of liberty is to be gained in inches. i often think it's to be measured in millimeters. instead. so again, sometimes i concentrate on what do i think can -- where can i make a difference today? but i also keep the debate alive because i think some of the work i have may not realize progress for several congresses, if not a generation. but i don't see a whole lot of appetite in trying to return us. mr. wallison: one more. wait for the mike and i

flooding from the cape fear river well kristen salumi joins us live from the banks of that river in fiat filled north carolina hi there christine so just how serious is the situation where you are right now. julie the rain has just gotten to be relentless it started two days ago the last twenty four hours it's really intensified and as you mentioned the concern now is flooding i'm standing along the banks of the cape fear river and just yesterday we were here and we were able to drive down to this area that's now completely covered in water and to put it in perspective two years ago there was another hurricane hurricane matthew and this area where i'm standing was completely underwater we wouldn't be able to be standing here and meteorologists are predicting that this flooding event is going to be even worse than that so they have issued emergency officials in the area of issued a mandatory evacuation that the deadline is two hours from now for anybody who lives within a mile of this river and another river nearby called little river they are very concerned about the potential for damage

there will still be some labor politicians who are likely to say it isn't enough because of the cow fiat's and you still say you're going to criticize israel at all the rest of it there may still be the possibly want to see resignations over this but i think probably on balance it will bolster his position in parliament if not necessarily so much among his own membership lawrence leigh with the latest on that story from london which is this program of course bring you more analysis and developments for the moment thank you and just before we go let me remind you of some of our main stories today activists say the last federal controlled province in syria is being attacked from the air that's this fight a warning from the u.s. president donald trump to syria's government and russia not to recklessly attack the area now it's believed more than twenty separate air strikes have been carried out killing at least seventeen people five of them children the united nations has warned that a full assault on aide lives could spark a humanitarian catastrophe on a scale not yet seen in syria's seventy

deal and really big would be the first big deal from the new ceo of fiat chrysler.rkets we are losing a little bit of steam. s&p futures slipping into negative territory. nonetheless sort of a calmer day. a couple things going on here. there was a report be a time government would be looking for 10 million euros -- 10 billion euros for its citizen income program. that has been denied that there are concerns about the finance minister being forced to resign. -- but there are concerns about the finance minister being forced to resign. crude up by 1%. the risk premium gets priced in a little bit. david: at 8:30 eastern time, we are going to get u.s. ppi numbers for the month of august. later, we will hear from two fomc members. is going toasury auction $23 billion in 10 year notes at 1:00. at 2:00 this afternoon, the fed will release its beige book. now, we want to find out what is going on outside the business world. we turn to emma chandra with the "first word news." emma: hurricane florence is taking aim at north carolina in the most powerful storm to hit the state

fiat chrysler seeking $7 billion for auto parts, and is in exclusive talks with equity firm kkr, howevernd is aiming to pay less for spinning off the union -- unit have deteriorated. it has a japanese parts maker. haidi: elon musk says tesla is overwhelmed by demand. largeeted, due to a increase in vehicle delivery volume in north america, we experience larger -- longer response times. would be tesla in do or but ultimately successful debut in new york. after pricing shares at the low end. this is bloomberg. ♪ xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. haidi: it is a: 30 a.m. here in a.m. h

initials speculation was there was going to be built at a fiat chrysler facility in mexico.imeline for this new pickup truck, 2021. that has been moved up since 2022. and what about this? cannabis:hitting the market. >> considering moving to the whwh market for cannabis infused drink, they are watching the chemical and marijuana believed to relieve pain and anxiety. this space is evolving quickly. no decisions have been made at this time after a report in bloomberg which the coca-cola was in talks with a canadian cannabis company who would not comment on this but we will wait and see. heather: it is national cheeseburger day. never too early to have a cheeseburger. we are submitting with 3 burgers. >> wendy's is turning this into a month-long celebration. when you order something from the wendy's apps you get a free burger. >> got to get my hair done. here it comes. >> i love dipping the wendy's fries and going for that. through the environment. >> lots of other deals for national cheeseburger day, red robin, and doing things to celebrate the day. >> stand behind me. i am th

that's a tord willing -- they're reporting that fiat and kkr are close to reaching a deal but bloombergat least two other groups have expressed interest in that business. >>> u.s. president trump is set to announce tear rifts on ariffn additional $200 billion of chinese goods. the tariffs will be set at 10%, well below the 25% the trump administration had discussed earlier this year. the target list of products released back in july includes electronics, consumer and industrial products. china said it will not negotiate with a gun to its head one state newspaper said, quote, china will not just defend they said the key risk was contagi contagion. >> the trade tenses haions haveb a concern. there will be an economic impact there's been no material impact so far i would say there's a little bit of fear or lack of confidence that's causing people to hold back on investments, in particular investments that would further complicate nothing. for center charter, we're particularly going and it's less accurate in trade between china and the united states. if the only issue were u.s. china trade

fiat chrysler has put more than a $7 billion price tag on it corporate unit -- car parts unit.vate equity firm kkr is hoping to get a lower price. chrysler had a competing offer from apollo. city group facing down's skeptics -- skeptic second region's financial goals as it raises of profits and attributes part of the approved outlook to u.s. tax reforms an additional investment spending. that israel bloomberg -- that -- that is your business flash. vonnie: lehman brothers fell 10 years ago, the official beginning of the financial crisis. we are talking with key players recovering from the crisis. they were then and today they are around to tell their story. welcome angel gurria, oecd secretary-general. thank you for joining us. you are about to have a conference about what you learned from the conference and whether the global financial system is more resilient now. what is the conclusion? is it resilient enough to withstand a future financial crisis? >> we have made a lot of progress on some of the tech go aspects. we have made progress in capitalization. most banks are 7-10 t

ford is following in fiat footsteps. it was widespread, deeper than we expecteds.e krebs at auto trader said that the passenger car share of the total market may which ised below 30%, a level we have not seen, so that's a significant drop. point, known, to your that this has been a problem, but not to this extent. most automakers missed estimates even though terror threats have not really -- tariff threats have not played out materially. craig: the only tariffs that have actually come to pass have been in china. we had a small number of vehicles that are imported from china, hit with a 25% tariffs a couple of months back. the big concern is obviously nafta, which i know we will get to shortly. and that would have a significant impact on our lot of on a lot of models. point, the specifics that we do have on that deal bad mexico do not look too for the industry, but we do have a situation in addition to nafta where the commerce department is looking at putting tariffs on imported cars in general, and that obviously is a major concern for the german automakers which d

with god's fiat currency on the side and some detriment. from a few hundred. thousand seats it will be sort of i said she brings my sense at the time to buy them just. as a with the idea what that's like a model of model hope we're. going to see that i'm going to do a lot of the numbers on so that it. doesn't you know but fox you know buy new things into. the woman sitting down when you would see these sudden and so when we should. do it it's a typical high profit. by us but to give you a thing to. do you see. that is constantly changing. a lot of times. this is definitely the most professional of the factories visited. the fact that we're being taken through this water treatment facility is a really promising sign. you start out with incredibly yucky water and it goes for a progressive series of filters and other processes and eventually you end up with hopefully acceptably clean water. the coolest thing when the water is true the treatment facility some of the water comes out of this and they have fished in here in the factory and i said well i know the wate

. >>> fiat chrysler is seeking money for a unit on rolls royce, falling after an issue with an emergency made forc fora plane force a landing. >>> let's get over to sue her a herera. >>> good morning here's what's happening at this hour european union lawmakers have voted overwhelmingly in favor of launching actions against the hungarian government for allegedly undermining the blocks democratic values and rule of law. this could lead to a suspension of the eu voting rights. >>> russian president putin says russia has identified the two men that britain names as suspects in the poisoning of a former russian spy and that there is nothing criminal about them he insisted they do not work for the russian military >>> chinese president xi and japanese prime minister abe meeting on the sidelines of an economic forum and talked about further improving the bilateral ties. >>> here at home, the fda says teenage use of e-cigarettes has reached epidemic levels and is calling on the industry to address the problem or risk having their flavored products pulled off the market. the five largest e-cigar

he seems to rule best or most effectively by executive fiat.he discovers these executive powers, like he loves pardoning people. he loves tearing up executive agreements like the u.s.-iran nuclear deal. he could tear that up because that was not ratified. but this is a congressionally ratified treaty and one issue on which republicans are pushing back against trump because nafta is pretty popular with the republican base because all these states across the -- >> some of the states. >> a lot of these farm states especially, canada is a top market. all these republican senators are not eager to see him tear up nafta, so i think it would be very hard for him to do that and i would discount a lot of the hot air we've heard recently about we've reached a deal with mexico and canada has to come along. i think the negotiations are still going on and as you suggest, the negotiating environment may change once you have this more leftist president who takes office in mexico city. >> let's move on to afghanistan, america's longest running war. a new comma

it's a fiat that is designed to thwart the search for truth. it is designed to limit the ability of dr. ford to express her opinion, to answer questions and follow-up questions by members about her story. it's contemptuouos. the phrase that comes to mind, hell has no fury like a woman scorned. in this instance it's women across america who are being scorned. scorn senator obama to treated with contempt, to be treated as if you don't matter. having just a few minutes to really tell your story on an issue of this magnitude about who is going to be on our court, what the american people may want in terms of the qualities of a judicial nominee versus the right wing press to get this guy on the bench in order to advance the sort of agenda that the koches and others have funded is extraordinary. and so in some ways this is just merely a pretense of process. it's really designed to give the koches and the big funders who are backing him through these operations on the outside what they want on the court which is a sure vote no matter what. even if it

they rule by fiat. they decide, they make the calls and they don't like anybody else having a say. they also like to take home the bulk of the money, with them. so this is putting somebody like that in charge of a democracy is a very dangerous thing, and especially, it's more dangerous with him because he has a complete lack of ideology. he doesn't -- >> you think it's more dangerous because he doesn't believe in anything? >> absolutely. people say to me, well, if we impeach trump, we'll have pence. i go, great, at least he believes in something. i'm not afraid of having a debate with pence whether or not adam and eve rode on dinosaurs 6,000 years ago. >> i don't think pence believes that. >> he believes the bible is the word, and that the the way, and the earth is about 6,000 years old. he also believes that if you're gay, you can be converted into being straight. i can have that debate with him too. i believe the american public will agree with me in that debate, and we have a better chance of beating back this insanity with him than with who's currently in the white house. becau

let's go live now to christa salumi who is in the city of fiat ville in north carolina so christine what is the latest on the situation there . well the storm is slowly creeping out of north carolina the worst of the wind and rain is over but it's clearly not over yet the rain still comes down and the rivers are rising that's the real concern the rivers continue to rise along with concerns about flooding and now mudslides as well in some of the more mountainous areas of north carolina and if you look behind me you can see exactly what officials here are worrying about we've got a major roadway in the middle of downtown say advil north carolina where a tributary of the cape fear river has overflowed its banks and is now just flowing right through the town and this is a big hazard of course for motorists on the roadway as well as pedestrians walking by of the fifteen deaths that have been reported so far in this area at least fifteen about five of them have been due to motor vehicle accidents so officials are warning that the worst is not over yet and that residents should not be complacen

are obligated to follow, the chairman has no right, with all due respect, to simply override them by fiat. >> we are obstacle its gaed -- obligated by that rule in executive session. we're not in executive session. i would -- i would -- [ shouting ] >> i would respond to the issues brought up by senator durbin about confidential documents. i was criticized for my decision to receive some documents on committee confidential but i'm doing exactly what i did during judge gorsuch's confirmation and what chairman leahy did during justice kagen's. this is another example of treating regular committee practices as somehow out of the ordinary. presidential records that we receive often contain highly sensitive advice to the president as well as personal/privacy information like full names, date of birth, social security numbers and bank account numbers like my predecessor, i agreed to receive some presidential records as committee confidential so that both democrats and republicans could begin reviewing judge kavanaugh's materials much earlier. i don't know why my democratic colleagues object to

the chairman has no right with all due respect to simply override them by fiat. >> yeah. we are -- obligated. we are obligated by that rule in executive session. we're not in executive session. i would -- i would respond -- [ crowd yelling ] >> i would respond to the issues brought up by senator durbin, confidential documents, i was criticized by my decision to receive some documents on committee confidential. but i'm doing exactly what i did during judge gorsuch's confirmation. and what chairman leahy did during justice kagan's. this is another example of treating regular committee practices as somehow out of the ordinary. presidential records that we receive often contain highly sensitive advice to the president, as well as personal privacy information. like full names, date of birth, social security numbers and bank account numbers. like my predecessor, i agreed to receive some presidential records. as committee confidential. so that both democrats and republicans could begin reviewing judge kavanaugh's materials much earlier. i don't know why my democratic colleagues

total volume it is 7 or 8 in terms of auto involve yuchlt lit not move the needle a lot for ford or fiatorea is a lot like japan in the sense that it was a protected market when it started opening up the u.s. auto makers were not making the small vehicles and concentrate tong types of vehicles that the people in this country want today buy as a result they didn't put a lot of effort into it. gm also had a subsidiary there for a number of years yes they do have plants here and build more here than they have built in the past. they export from south korea to here if we were to say we will put tariffs on vehicles it would definitely hurt that industry. >> thanks very much for us in chicago. coming up we'll speak to trump's top trade adviser. we'll get his reaction to that event and much more. negotiations front and center. >>> cannabis stocks have been on fire lately. >> matt gaetz will join us to scs at and his views on the latest trade developments. we are back here in a couple seconds. wow, the new iphone really exceeds all expectations! yup! and, by getting the iphone with our unlimited

had he chose he could have governed by executive fiat, unconstrained by checks and balances. but instead, he helped guide south africa through the new constitution, drawing from all the institutional practices and ideals that had proven to be most sturdy. mindful of the fact that note -- no single individual possesses a monopoly on wisdom. no individual, not mandela, not obama are entirely immune to the corrupting influences of absolute power. if you can do whatever you want, and everyone is too afraid to tell you when you're making a mistake, no one is immune from the dangers of that. mandela understood this my he -- this. he said democracy is based on the majority principle. this is especially true when it -- in a country such as ours where the vast majority has been systematically denied their rights. at the same time, democracy also requires the rights of political and other minorities to be safeguarded. he understood it is not just about who has the most votes, it is also about the civic culture that we build that makes democracy work. so we have to stop pretending that

the bus was carrying 33 passengers as it fell some 3,300 feet >>> and the air to fiat's founding familythe memorial service taking place. the cathedral was packed and you can see they were in assembly line jump suits in honor of him. that's the news update at this hour i'll send it back to you have a great weekend >> you too thank you very much. as always, sue back at hq. ss> spacex has its first private paenger. details later on the closing bell s pregnant, in-laws were coming, a little bit of water, it really- it rocked our world. i had no idea the amount of damage that water could do. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they were on it. it was unbelievable. having insurance is something everyone needs, but having usaa- now that's a privilege. we're the baker's and we're usaa members for life. usaa. get your insurance quote today. >> we'll discuss an exclusive comes right up on the closing bell packaging for restaurants. and we've grown substantially. so i switched to the spark cash card from capital one. i earn unlimited 2% cash back on

the chairman of fiat chrysler has reaffirmed the companies plan to stay independent. the future is one of tilting, not one of raking. he has been questioned about what is next following the death of the long time ceo. there was speculation they would seek a merger. british airways has been rocked by a data breach, shares fell by the most in seven months after the airline revealed hackers made off with credit card data transactions. it lasted for more than two weeks. that is your business update. lisa: sticking with the airline industry the president of emirates says global indices may appear negative but it could end up with a more equitable relationship between nations. >> is there a reset going on? is doing isne, who one thing. is there a reset, includes outng forward 3, 5, 7 years produce a healthier global economy without over domination? short-term there may be volatility, yes. longer-term is it likely to reset itself, i think so. the digital way estrogen world is changing everything. in the airline industry in general. we will just have to navigate our way throu

shery: fiat chrysler is evaluating potential buyers for their really parts unit. -- morelli parts united $7 billion that ended the, but exclusivity of the talks. a final decision has yet to be made. the cio may perform -- prefer to spin it off on the if stock exchange. -- of the stock exchange. haidi: the people's insurance company added to -- hedge funds called to a management and q1 capital are planning to buy in. million u.s.$377 in the hong kong offering, several times as prescribed. jack ma is a cornerstone investor. let's take a look at some of the stocks we are watching. what is on your radar? sophie: with japan off-line for markets, checking in on what is going on in seoul. we are looking at samsung mechanics according to a report that it is to build an electric conference family -- factory and be completed by the end of 2019. also watching on me tell which owns a stake in beutel, which is dropping anonymous accounts to boost transparency. also monday motors after they promote -- hyundai motors after they promote a new vice chairman. that is closer to succeeding his 80-year-old

kkr offer thus than the $7 billion minimum that fiat was looking for. david: thank you.hain concerns and drove asia equity markets lower today and that was before the president tweeted this more request saying tariffs have put the u.s. in a strong position with jobs flowing into our country, yet cost increase has been a noticeable. if countries will not make fair deals with us, then they will be terrified. tariff-fied. i am getting used to that word. alix: you are still good with the grammar. [laughter] david: chinese official signaling those talks with the u.s. may stop before they get started, saying china will not negotiate with a gun pointed at its head. -- welcome now, richard lacaille. o will start with a chart -- i will start with a chart. there we go. it basically shows the degree to which u.s. stocks, the white line at the top, for over performing the blue line, and em way down below. there is a divergence right now. how long can this continue? rick: as well as earnings growth remains strong. there are confounding factors, but they removers -- they they may reve

canadian built cars does that hurt canada or does it hurt the american-based companies, and i consider fiat chrysler for intents and purposes an american based company. does it hurt the american based companies almost as much as it hurts canada >> this is the longest trade relationship border in the world. we have an integrated supply chain especially in automobiles. any tariff like that is bound to hurt american companies. i think the president would be better advised tactically to renegotiate nafta, call it something else, call it the trump north korean trade agreement, that's fine i think it would be fine for everybody i think the president is right about china, but he's not going to be as effective on his china trade complaints if he's still at war with canada, mexico and europe those countries, i think, would like to get behind him, at least quietly on china, but not if he's raising the stakes in this case with canada. >> the backdrop to all of this, ambassador, is china seems to be ready for the long haul, the long fight it has some of its prominent citizens like jack ma saying this c

the last four months of the year we talk to former cisco strategy exec, a board member atrophy -- at fiatsquawk alley." the lexus ls 500 and ls 500h. experience amazing at your lexus dealer. with pg&e in the sierras. and i'm an arborist since the onset of the drought, more than 129 million trees have died in california. pg&e prunes and removes over a million trees every year to ensure that hazardous trees can't impact power lines. and since the onset of the drought we've doubled our efforts. i grew up in the forests out in this area and honestly it's heartbreaking to see all these trees dying. what guides me is ensuring that the public is going to be safer and that these forests can be sustained and enjoyed by the community in the future. >>> welcome back the energy sector is extending losses after the worst day in three weeks, on pace for the sixth straight negative session. crude oil heads for the worst week since july. watch those stocks back tyoo u, carl. >>> dow down 15 points "squawk alley" is up next. making my dreams a reality takes more than just investment advice. from insurance

chrysler,r -- fiat kkr offered less than the 6 billion euro valuation which ended the x facility of thethe italian carmaker can evaluate other offers it received while it prepares to separate the milan-based company and distribute shares. david -- jamie dimon says he is done with politics. that he has no intention of making a run for the white house, saying the current administration is handling the economy well. last week, he boasted he could beat the president in an election before rapidly backing away from that claim. >> i shouldn't have said it. more out of frustration and my on mckee's not, but i should not have said it -- my own much ease know, that i should not have said it. much.ne: thank you so frankfurt as its post-brexit hub. is assuming there will not be a deal between the u.k. and the eu. >> we are preparing ourselves. is fact, whatever solution coming out, de facto no longer relevant for us. a few weeks ago, we had to make a decision to go and execute for a worst-case scenario. de facto, the financial system isn't really operating under the assumption that there is no agre

bhanu: at this moment, crypto has not become big enough to challenge fiat money in any of the placesit is interesting but it has had an impact through all of the miners that get together for demand for memory and tech. clearly, unlike europe, e.m. has a lot of tech. the u.s. has a lot of tech. as the prices of bitcoin have come down and fewer people are involved, that is also deflating the tech bubble in emerging markets. francine: thank you both. bhanu just makes us smarter. "bloomberg surveillance." continues in the next hour. tom keene joins me out of new york. this is bloomberg. ♪ focus.e: e.m. in the turkish lira raises gains as president erdogan comments on central-bank policy once again. we look ahead to a russian rate decision and news conference. governorof england talks about how a note gilt brexit could lead to a 30% drop in health care. we look at the impact of hurricane florence. this is "bloomberg surveillance. i'm francine lacqua in london. tom keene is in new york. we have president erdogan still speaking. hurricane florence as well, but right now the hurricane is hur

there was lack of investment by players likean fiat.y if you want fine, we so he said will. in italy, they didn't. the relationship between public and private is problematic. different?s time is this going to be the spain of 16th century? >> could be. as long as interest rates stay this low, we will see a company not functional, not growing at the rate it could. italy suffered a lot from china. that's part of why they did not do well. if real interest rates were to rise, i don't expect that, then suddenly funding their deficit would be hard. tom: francine, jump in here. this is important. francine: does it depend, mariana, on whether the markets .re two short-term they want to know from the populist leaders if they will rules are not is that the wrong thing for the market to be focusing on? >> you cannot have a monetary union with the different levels of competitiveness we have in europe. instead of obsessing over the 3% rule him up what we should be doing in europe is to learn lessons from each other. of investment in the private and p

fiat-chrysler has decided to bring back the ram heavy duty truck from mexico, investing a billion dollars hiring thousands of new employees and doing by itself an enormous substantial new economic investment to our state which will make a real difference. and that is just one example. but it is not just our auto industry and manufacturing that benefit from tax reform. our main street businesses are being benefited as well. they're growing, they're hiring workers, and i hear all of the time about new expanded benefits. in my home town the main street downtown is called rochester road and rochester road we have everything on that street locally owned car dealerships, jewelry stores, restaurants, clothing stars, law firms, accounting firms, you name it, we have it. i've talked to each one of these folks and every sector of this part of the economy, and they've told me about their positive feelings about tax reform and how it's allowed them to reinvent in their companies and in their business and in their workers and continue to make my city, my home town of rochester a great place to work, l

the chairman has no right, with all due respect, to simply override them by fiat. >> we are obligated by that rule in executive session. we're not in executive session. i would respond -- [ yelling ] -- i would respond to the issues brought up by senator durbin about confidential documents. i was criticized for my decision to receive some documents on committee confidential but i'm doing exactly what i did during judge gorsuch's confirmation and what chairman lahey did during justice kagan's -- this is another example of treating regular committee practices adds somehow out of the ordinary. presidential records that we received often contain highly sensitive advice to the president as well as personal privacy information like full names, date of birth, social security numbers and bank account numbers. like my predecessor, i agreed to receive some presidential records as committee confidential so both democrats and republicans could begin reviewing judge kavanaugh's materials much earlier. i don't know why my democrat colleagues object to receiving documents faster but not all of these

fiat chrysler is looking at other potential buyers for its parts unit reports say the automaker got a but it considers that to be too low. >>> a new report says that ai, artificial intelligence, and robotics will create almost 60 million more jobs. artificial intelligence and its impact on jobs has become a hot topic of debate. many experts have said -- ai will also create new jobs and there's an analysis out from global audit firm wpc making similar predictions. it says ai and robotics could boost productivity and create better products and services >> before we do movies really good, dona, jail was started by will wide who was one of the activist informsers. >>> the sci-fi thriller earned $24 million in its opening weekend. film encountered some controversy when it had to cut a scene featuring an actor that was a registered sex offender. "the nun" went to second place in its second place. following closely in third was "a simple favor" is $16.1 million for its opening weekend. >> he was a horse. >> who was a horse >> donarail. >> the horse that ran? >> upset the big favorite of the

. >>> let's check fiat chrysler. 10% rise in their august auto sales.stock, there we go, up fractionally. volkswagen also had an increase but a much smaller increase. those shares i think, we will get those up in a moment. meanwhile, there's volkswagen down. nissan, 4% rise in sales from a year ago. these monthly auto sales numbers will continue to come out. most of them are right around the same, either slightly up or slightly lower. >>> check this out. carnival unveils its largest cruise ship ever. >> it's a beast. charles: it's 1100 feet long, 20 decks, 6600 people. it is literally a city, 17 restaurants, 23 bars, casino, water park, climbing wall, miniature golf course. why not a full golf course? it sets sail in december for the canary islands. go figure. i don't even know where to park that bad boy. it is impressive. huge. >>> then there's this controversial story of the morning. nike teaming up with colin kaepernick for its 30th anniversary of the "just do it" campaign. is it smart for a big company like nike to join with such a controversial per

taking a look at the shares of fiat chrysler, up about half a percent. those are your headlines.olitics. the highlights and low lights from the emmys last night. that's next. ♪ hey, what are you guys doing here? we've been helping you prepare and invest for retirement since day one. why would we leave now? because i'm retired now. so? we're voya. we stay with you to and through retirement... with solutions to help provide income throughout. so you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that, uh, tie. or the suit. or the shirt. voya. helping you to and through retirement. designed to save you money. wireless network even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfi