francine? francine? tom? thank you. is needed. earlier, bloomberg's yousef gamal el-din spoke with the oil finance minister. >> the members will try to get as close to $50 per barrel. we are not too far away from that. much, and it needs to do more, i think we will. francine: let's now get straight to vienna where we are joined by yousef. yousef: this speaks to the probably more favorable conditions, taking place on the sidelines. but ultimately sets the stage of a bigger composition about the future of the opec, non-opec accord. the in mind it is not on table. the indication here is they will be looking to enforce supplies more strictly. the numbers have been going up, but they are making more so of a point to saving market will rebound quicker if everybody holds their weight. closer to the eventual expiration of the date of the data comes in. voices we the bullish have been hearing, the latest being morgan stanley revising the bread forecast upward, shows you once again momentum is on their side. companieswe have seen

francine: is europe great?as its challenges, because there is no fiscal union, there is nothing that holds them together from a policy standpoint. at least not much. but i believe europe has seen the worst in terms of being pulled into different directions. it seems the sentiment is more integrating. francine: so you don't think we can come back, that we don't somehow forget the concerns of populism, and that it comes back uglier in five years? joe: i am very encouraged that when people saw this is not going my way, this right wing populism, that people stood up and went to vote. there were more people going to elections to vote than there used to be in the past. so, this was what was the most encouraging topic to me, that people said, hey, we are the people. now it's time to take that into our hands because things seem to be going wrong. that's quite positive honestly. francine: how do you see china? joe: oh, china. the chinese way is typically sit down and smile. francine: and behind closed doors? joe: and lo

francine: is that difficult?ico: the difficult part is to make it simple, because for the customer it needs to be super simple. simplicity, but behind the scene is very complex. and this is why they are the experts. inside the warehouse, and industrial estate just outside of brazil is the heart of yoox net-a-porter and processing thousands of items a day. the tech comes from here. where i.t. experts are trying to develop artificial intelligence that can help the group anticipate the desires of high net worth clients. francine: how do you sell differently to u.k. customers thing you do to an italian customer, to a chinese customer? federico: so we sell to customers in 180 countries, but what makes different anyone else wethe level of localization achieve country by country. all of the countries are different, and the localization not only, but the language. notnvolves details that are so different. , again,e you an example about japan. the best -- picked in japan. we are in luxury so everything needs to be consist

francine: thank you.rs who have placed bullish bets on the pound might find their nerves tested this week with everything from brexit to the bank of england. the biggest weekly gain since last week. there is a vote today on the brexit bill, and then the policy decision on thursday. still with us, kit juckes and alberto gallo. kit, what is moving the pound at the moment? >> the first thing that will move it is, if you overlaid a picture of euro-sterling with rise willr, the show a bigger story going on. the market is rebuilding is negative view on sterling. the not confident about state of the economy at the moment and it is rebuilding its position. the most important thing this week, the two most important things i suspect are one, is some of that going to get taken off if we get inflation data that reflects the weakness in the pound, unemployment data that remains strong, because that has been a trend, and a little bit of nervousness ahead of the bank of england that we thea edeal that reflects hawkishne

francine? francine: a little bit of pressure.what the tax cuts in the u.s. means for the rest of asset classes. .s. government bonds but what i want to focus on is the krone. five years at the helm of the risk bank. traders have been on this. a lot have been looking for signs that the central bank was move away. kevin cirilli come our chief washington correspondent, knows that game one of tax reform analysis will lead onto many many elite quarter, even years come up discussion. -- kevin, up with the what did you learn? kevin: the big takeaway is that the freedom caucus is not going i amst the framework, so interested to see how december plays, tom and francine, especially if they try to get major parts done by the end of the year. remember, mid december is when they have to raise the debt limit and avert a possible government shutdown. there is a lot of little theater over that. we were speaking with someone last night who says he does not think there will be a lot of drama with, and that is good news. tom: those talking politics

francine: it was., but this was the concern for remaining in the eu. it brings back the kind of what is a need for lawmakers to abide or not abide by that referendum on june 24 of last year. we just want to get your call for euro pound of last year and then the more theoretical debate on brexit. are we going to see parity with found? -- pound? andreas: i think that would be my lower bound. i would be a strong buyer. think if the euro strength goes further on a trade weighted basis against the dollar, i think sterling will go with that , and there is for the room for upside for sterling there. francine: talk to me about the possibility of the u.k. crashing out. is there likelihood? andreas: given the long history of the u.k., i think it is low probability. politicsevelheaded will prevail. i think it is rather ironic because i agree with the comment that there has been an attempt by part of the conservative party and theresa may to concentrate power to much in the prime minister and bypass parliament. i

francine, i'm bored. markets are quiet. francine: i am not board.ts. it is taking a breather. either they are border they are worried about signs and china's economy. you see movement, tom. you need to look at the market that are moving like commodities, including these metals. pound, you c-130 to .02 -- looking at the pound, you see 132.2. carneyuation facing mark is getting complicated. inflammation is running a five-year high and which is not keeping pace. jamie, make me smarter. his inflation sticking are not? we think of inflation as a shock, pushing up prices. what we have seen and the latest data is a big boost from footwear and imported goods. that is likely to reverse in the it is nothingt the bank of england needs to respond to. this is not a wage-led shock, but an external shock. francine: this is my chart of the year. it basically -- tom looks at and jamie is saying it is quite transitory. we have not good job numbers in for decades, yet there is no price pressure. there could be wage expectations. we know a lot about wage and inflation.

francine: yes. to bring up, if we could, i don't know if we have the graphic, it was at 1.35. tom: i have got it right here. we are doing this in real-time. it is friday. everyone is hung over on the team. we are trying to get this done. francine in new york on monday. here we go. the search -- surge down. surge tothe recent 1.35. an extraordinary morning. francine: in the meantime, let's taylor: first word news. breaking news from london this morning. on aber of passengers hurt subway train after what was said to be an explosion. this took place in the southwestern part of london. police and emergency personnel are there. we will have more in a few minutes. for the second time in two months, north korea has launched a missile over japan. this did more than that. it flew far enough to put the u.s. territory of guam in range. to retaliateowed after the united nations imposed new sanctions. it might be a signal about what the trump administration plans to do about iran nuclear deal next month. secreta

francine. francine: angela merkel has won a fourth term as chancellor at her victory was marred by .upport >> a new challenge is in front of us, namely the fact that amd has entered the parliament. we should analyze this very closely and in depth because the one to gain back -- we want to gain back the voters of the amd tried to solve these problems by giving them solutions and certainly the politics. francine: let's get more on all this, chad thomas. chad, what does it mean that angela merkel's clinical bloc that's political bloc needs -- political bloc needs. chad: germany's biggest newspaper is calling this a nightmare victory for merkel and her party. just merkelaving and her party are having a grim meeting on how they are going to move forward. one indication of the bloodbath that has happened here is that her bavarian sister party, one of her key people that were speaking last night representing , she failed to win a seat in parliament. what does it mean for the social democrats opting to

francine: good morning. we are saying quite a lot of up andeavyweights coming saying, this is not the time to focus on risk. we also heard from ray dalio and he is concerned about the political system in the u.s. where do you stand? >> for a major correction in markets to occur, aside from a proper bear market, you need a variety of things happening. you need to see a significant tightening of monetary policy and you are not seeing that anywhere because the fed is taking baby steps in tightening, but real rates are still negative. you can have those anyway. we have had a lot of concern over the summer regarding geopolitical events and that has created tensions in korea. stocks became very jittery. advanceerm, stocks will and then explore that range. we are still range trading at the moment. what could lift stocks out of that range is when people start to focus on 2018 numbers, but that is later in the year. francine: how do you deal with north korea? when you look at volatility, it is not really there, when

francine: why? because this underpins everything we do here. >> the market considers the fed has been regularly wrong on the inflation forecast and again, they would be forced into some sort of u-turn into 2018. they also put a lot on the fact that we were expecting a lot from fiscal policy, which is not coming. this could change. francine: does that change? let's say we have this tax overhaul at 20%. does that kickstart the animal spirit? >> i don't believe actually, in a big, massive fiscal stimulus, but the same time, the market was expecting too much just after the new administration came to power and they came to expect absolutely nothing, while the truth was somewhere in between. there will be something, maybe not before the end of the year. it could take a little bit longer. there should be a reassessment of the simple fact that this administration needs to come up with something in the text field. all iscing nothing at wrong. francine: what will it take for the market to reprice? could you a

francine: and those are? from teachers, university presidents, we are being asked to train jobs that don't exist in sectors that have not been invented. that tells us some things you would expect, stem remains important, but increasingly in , them with other skills complex decision-making, communication, ability to persuade people, those will be increasingly important. some areas you might not have expected, who would have thought that librarians would appear on the top 10 list? if you think about librarians as a combination of librarians, management consultants, data analysts, sift data, interpret, that will become increasingly important. the big message is i think we got to depressed, worked ourselves up into a state that robots are going to destroy jobs. the future is much more writer and optimistic here at it is ours to make that we have to think about how we reimagine the future of work. francine: very good, tom, you can be a librarian. tom: in my dreams. i want to talk about the great challenges that th

francine: i'm confused.think that theresa may is going for a softer brexit and this would be dictated to her by some pretty weak election results that she had in june? so boris johnson rallying the , what ise-brexiteers it mean for her strategy going on? policy isernment's still hard brexit officially. we expect in her speech in florence on friday some signs that the government is ready to compromise on transition. the cabinet has accepted the principle of a transition. the easiest thing to do, the most reassuring for business would simply to reproduce the status quote as much as possible. something the foreign secretary finds difficult because he was the person most central and making these promises. exiting anyequire sort of transition earlier. tom: we talked to , let's-exchange animals talk to an international relations guy. what does it mean that the sterling has crawled back? isn't that a screaming triumph for prime minister may? .> i'm not quite sure it is much lower than it was before the referendum.

francine: thank you.ral election, joh spokellor angela merkel in a televised interview ahead of the election. that thiseveryone election is not yet decided. cbelieve the policy of the .ymbolizestu the center i hope for a high turnout of voters so the policies will be at least -- joining us this sunday we will bring you the outcome and what it means for market. with grouppeak leader of the christian strong allynion, a of chancellor merkel. a little for giving me bit of your time. how worried should markets be and what could it mean for cdo -- csu policies? >> we have to see the outcome appeared i think it will be in the parliament, but i think that is not unavoidable already. i think we are not keen to work with them at all. they are pretty much alone and we have to see how they are performing in the parliament. i'm afraid there will be big discussions, but on the other hand there is a big possibility that they are split apart. part of the party is very some of themand are really -- it's going to be a diff

francine: he was.questions to ron and bricklin, this is what you do, you go to tv . you steal some charts. guests questions through tom and i. this is bloomberg. ♪ canada-eu trade pact kicks off today after a series of delays. union president says it encapsulates what europe once its trade policy to be. the canadian prime minister also praised the deal. >> we need to now make that next of talking about a progressive trade agenda. it means actually putting forth progressive trade deals. francine: when you look at canadian dollar, canada has quirks. bricklin: we have seen output boosted for canada. how much other stuff is going on in canada that is more sustainable? they are very reliant on the output gap. they are starting to raise rates right now. tom: that is a great list -- litmus paper. the two trudeaus. of pierre sr.'s term. the blue, we come back up, that is where we are right now. this is a unique productivity model in canada. is the urgency there to make canada a new canada? bricklin: the ur

francine: thank you.renew her efforts to show who is in charge again on thursday with a special cabinet meeting on the eve of her long-awaited break the speech. this comes amid a rift with foreign secretary boris johnson. the pound's dramatic reversal has left analysts racing to catch up. with us, neil dutta. neil, thank you for being around. adam, let me go to you first because you were the former mpc. what do you make of this political upheaval? boris johnson is going. no, he's staying. does this just confuse the brexit situation? >> it underlines the tension, francine. the british tory party will not be satisfied with anything short of a genuine rupture with the e u, and refused to admit there are economicc costs to doing so. busy trying tos take advantage of that for his own advancement. in the end, if you are at the bank of england or the european commission, you shrug your shoulders and wait for it to run out. the problem remains this fundamental within the tory party. what's interesting to watch is

as francine is in milan.ed, no doubt, with some important banking interviews. hour,today, at the 12:00 the meetings and cleveland, an important speech by chair yellen. this is bloomberg. ♪ ♪ tom: bloomberg surveillance from london and new york. in milan, italy, is francine lacqua. it is always good to go to milan , european and italian banking in the last 12 months. it must be most interesting this time around. francine: it is most interesting. finished a fantastic panel looking at the challenges and opportunities for european banking sectors. when you look at italian banks, they have been in a funny place. investor start looking at them because of the turnaround or selection points that we saw because of nonperforming lows that offered consolidation in europe. what comes next is the big question for a lot of us. we talked of mifid ii and brexit. now, the ceo of mediobanca. thank you for joining us. when you look at the italian banking system and i spoke earlier, to the finance minister, they both say, this i

francine: would it be another european countries?ntral eastern slovakia, serbia, these are countries in which we can exploit the business and reinforce our position. we have been investing in switzerland for private banking, and also china in the financial advisory could be the other area in which we have some positive results in the next years. francine: would you rival and become as big is june audi? carlo: it is clear that today we are number 10. we are not so big but at the end, it is the penetration with our clients that is low. our clients and looking at life insurance, we are 30% penetration. if we reach the same penetration , insurance can easily become one of the first three companies in italy. decide to do something, the strength of my distribution network is so high we can deliver results and i'm sure we can become one of the big players. how much will you focus on cost cuts and how much will you focus on growth? carlo: there is a combination, because you cannot say in the next food years, you can only work on growth. digi

francine: what does brexit mean?orence, was it helpful? does it seem like they are softening their stands a little bit? >> it is modestly helpful. we will have to see the details. i do hope the brexit and united nations get on a straight course with a clear roadmap, because this is what we need. what we don't need is further uncertainty. francine: what does it mean specifically? if you have tough brexit negotiations, can this be beneficial because people are moving from london to milan? >> this is an important side effect and milan is an attractive location, so it is a welcome side effect. the point is europe must find new momentum for integration and complete a banking union, but develop other areas and promote a single market. monetary policy was also top of mind this week. janet yellen and other officials spoke publicly about inflation and the state of the global economy. bloomberg television caught up with some experienced policymakers to get their take on the challenges facing central banks. here is former feder

francine: this is with retail?etail, we arel looking across financial services but when you think about the opportunity here, asset management is very exciting. i think retail and commercial banking is very exciting. francine: a lot of investors like european banks. a lot of investors are looking at italian banks but we have listened to and a whole lot of problems. how would you describe these banking sectors? is it challenges are opportunities? bob: i think it is challenges and opportunities it we are now looking at italy and post the crisis people were very focused on germany. maybe germany and france, core europe. some of the best opportunities right now are in the periphery such as greece. greece was the first to be hit hard, but first to have to address some of the fundamental issues. the opportunity for us, we have bank where we can really grow deposits and lending. we don't have one nonperforming loan on the balance sheets. bankfrancine: is europe still overbank? bob: is there going to be consolidation? defi

francine: are you looking at acquisitions?g at acquisition that will be taken in south africa. i hope we will be able to agree they reallycause need consolidation and i think that is the right thing for us going in there. it is not really a rumor. francine: there are other bidders, right? >> that is what makes a good. there are other bidders, but we will be sensible. -- there areders other bidders, it does not mean we are going to be very high -- to bid very high. we would do it where it makes sense for our shareholders and we also do not want to do something that will affect valuation. we have to be very careful. ♪ ♪ shery: i am shery ahn, and this is a special edition of "bloomberg best," focusing on the 2017 bloomberg global business for them the main objective was to foster partnerships. an example of that mission was to find common ground. it featured a pair prime minister's and the head of two of the investor -- of the world's largest investment firms. >> they're looking for a level playing field. it is all you want. you

francine:ubbed the geek of sheikh. federico marchetti, in 2000, founded retailer yoox as a marketplace for designer clothing. 15 years later, he merged the company with his biggest competitor net-a-porter, creating an online shopping giant. joining me on "leaders with lacqua," ceo of yoox net-a-porter, federico marchetti. francine:

. ♪ ♪ francine: he has been dubbed the geek of sheikh.esigner clothing. 15 years later, he merged the company with his biggest competitor net-a-porter, creating an online shopping giant. joining me on "leaders with lacqua," ceo of yoox net-a-porter, federico marchetti. francine: thank you so much for speaking to bloomberg. fashion or tech entrepreneur,

francine: on asset managers. >> i think it is massive.l department, our risk department, has risen many folds over the past five years. i don't know exactly the number, i just know that is the biggest area of full-time employee growth we have seen in the past few years. similarly, if you look at the number of regulatory exposures we have on a constant basis, it is massive. we operate in 26 countries. a lot of smaller players we have seen consolidation there are taking the view it is no longer profitable to invest in these types of resources given the margins they can expect. francine: when will robots be advising us on what to do with our money? like properly, a robot advisor type asset manager. >> i don't know. are we talking robots or androids? they will not be advising me. ♪ >> give us the sense of how banking will look like in 10, 20 years. will there be credit consolidation? will there be smaller banks as opposed to what we see now? what kind of jobs are we looking at? >> i think it will be enormously competitive. the industry has to

francine: on asset managers. >> i think it is massive.ompliance and legal department, our risk department, has risen many folds over the past five years. i don't know exactly the number, i just know that is the biggest area of full-time employee growth we have seen in the past few years. similarly, if you look at the number of regulatory exposures we have on a constant basis, it is massive. we operate in 26 countries. a lot of smaller players we have seen consolidation there are taking the view it is no longer profitable to invest in these types of resources given the margins they can expect. francine: when will robots be advising us on what to do with our money? like properly, a robot advisor type asset manager. >> i don't know. are we talking robots or androids? they will not be advising me. ♪ >> give us the sense of how banking will look like in 10, 20 years. will there be credit consolidation? will there be smaller banks as opposed to what we see now? what kind of jobs are we looking at? >> i think it will be enormously competitive. t

francine: i am almost running out of time -- vonnie: you have been watching a panel at the bloomberglobal business forum taking place all day in manhattan, full of world and business leaders, that particular panel on the un's sustainable development goals and how they are good for businesses. you were just listening to the ceo of mastercard. it is also streaming live online at bloomberg.com. nejra: avenue capital management are among the billionaire investors, contending that attending an unprecedented weathering at the bloomberg global business form today. we have been hearing about it all day and he is standing by with erik schatzker. much.thank you very you cannot imagine the people who are milling about outside the plenary hall. we have managed with good fortune to drag mark blas rate in a conversation. when we were sitting here chatting a few minutes ago you samed perfectly the sentiment i heard earlier from aries and carlisle. nobody knows why the market keeps going up. why the you think it keeps going up? marc: everybody has got a lot of confidence in gary cohn. people believe

for francine, it is all too much. all the shelters are full. and this is the devastation.shoes. i can't find any clothes, you notice how i'm dressed. we really need help here, because a lot of people are suffering. the harsh reality here is that all the tons of debris can't be fixed down or made safe before the next hurricane is due to hit. adding to the problems here, the drains are clogged with debris. more flooding seems inevitable. there's a lot of loose debris all over. the trees, that act like a barricade to the strong winds, all the leaves are gone. some of the trees have fallen. and the trees hold the hillsides. so, if we have a lot of rain, we're going to have some erosion, and potential mudslides. so that's a big concern. everyone here is doing all they can to prepare, more than 20,000 british citizens facing their second potentially devastating hurricane in as many weeks. indications that hurricane maria is making landfall here on the british virgin islands. what we don't know, of course, is the strength of the winds which we will face here in the coming hours.

up next, francine lacqua and "bloomberg surveillance."n anna edwards on bloomberg radio. ♪ francine: havoc slams florida. benin on the defensive. the former white house strategist calls up gary cohn. what is gary cohn's future in washington. a cautionary tale. the construction company defaults on $209 million. we speak to the outgoing lundbeck and future tevo

francine:

but i will hand the reigns over to francine lacqua and the surveillance teams. by tom keene in new york a little later on. i will go to radio. anna edwards will take you into the next hour on bloomberg radio and we will break the data at 9:30 a.m. a little functionality here, the screen you want is eco or weco. this is the screen you will get and this will fill in as the data comes out. that is what you want to the next half hour as we wait for the data coming through later on. bring you our exclusive interview with mexico's finance minister. this is bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. and asianeuropean equities climbed after the s&p 500 has an all-time high. irma does less damage than feared. theresa may's bill clears its first m

up next, it is "surveillance" with tom keene and francine lacqua.erg radio. ♪ francine: the dollar and treasury yields climb, as largestt trump once the tax cut in american history. pres. trump: we will cut the tax rate so american companies and workers can be our foreign competitors and start winning again. the bank of england marks 20 years of independence. a rate hike should not be seen

for francine, it is all too much. all the shelters are full. this is devastation. can't find any clothes, we really need help. a lot of people are suffering. are you strong enough to take this again? we are not. but what can we do? just hope and pray. it is terrible. we don't know what to do. i believe that when this happens, we have to face it. we wish you all the best. good luck. thank you so much. the harsh reality is that all the tons of debris cannot be fixed down or made safe before the next hurricane is due to hit. the last thing these communities need. they have been trying to make some sense of what is total chaos. with wind is now predicted to again top 100 mph, every piece of wood and plastic, and these metal roofing sheets, become potentially deadly airborne missiles. adding to the problems, drains are blocked with debris. more flooding seems inevitable. frightening times with this other horror came, and they? yes, dad and me, iam horror came, and they? yes, dad and me, i am frightened —— horror came, and they? yes, dad and me, iam frightened —— hurrica

speaking to francine lacqua at the business forum. kind i am sure you are aware we will be companyto ppc, cement in south africa. i hope we will be able to agree -- really because needs consolidation and i think it is the right thing for us to go in there and it is not really a rumor. sebastian: global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. thank you. oil heading for its third weekly gain. a meeting in vienna today to discuss ongoing production curves. we caught up with nigeria's oil minister in the capital. >> we would like to see a lot more. -- there is a level below, which we can -- is there a scenario where this -- where yoube a come together and make decisions on a quarterly basis? is this something that will not go away anytime soon? >> i hope it goes away. i hope we get to a point where the market naturally determines and where others consistently who are not there, private mechanisms we can afford, so it does not continue to be -- yousef joins us f

for francine, it is all too much. >> all the shelters are full. i cannot find any clothing. we really need help here. a lot of people are suffering. jeremy: the harsh reality here is that all the tons of debris cannot be fixed down or made safe before the next hurricane is due to hit. adding to the problems, the drains are clogged with debris. more flooding seems inevitable. >> there is a lot of loose debris. the trees act like a barricade to the strong winds. gone, some of are the trees have fallen. the trees on the hillsides, so if we have a lot of rain, we will have erosion and potential mudslides. that is a big concern. jeremy: everyone here is doing all they can to prepare. all they can to prepare. more than 20,000 british citizens facing a second potentially devastating hurricane in as many weeks. jeremy cook, bbc news, on the british virgin islands. rajini: you are watching "bbc world news america." still to come on tonight's program. , have you become an apologist for ethnic cleansing? rajini: aung san suu kyi faces tough questions about ethnic cleansing. the man cre

for francine, it is all too much. because all the shelters are full, and this is the devastation.'t find any clothes. you notice how i'm dressed. we really need help here, because a lot of people are suffering. the harsh reality here is that all the tons of debris can't be fixed down or made safe before the next hurricane is due to hit. adding to the problems here, the drains are clogged with debris. more flooding seems inevitable. there's a lot of loose debris all over. the trees, that act like a barricade to the strong winds, all the leaves are gone. some of the trees have fallen. and the trees hold the hillsides. so, if we have a lot of rain, we're going to have some erosion, and potential mudslides. so that's a big concern. everyone here is doing all they can to prepare, more than 20,000 british citizens facing their second potentially devastating hurricane in as many weeks. jeremy cooke, bbc news, on the british virgin islands. the british government has suspended an assistance programme to the burmese military, as a direct result of the treatment of rohingya people. this com

for francine, it is too much. i am homeless, because of the shelters are a fool.. you notice i have on different shoes, notice howl devastation. you notice i have on different shoes, notice how i am dressed. we really need help here, because a lot of people are suffering. are you strong enough to ta ke suffering. are you strong enough to take this again, another hurricane? well, no, but what can we do? the harsh reality here is that all the tonnes of debris can't be fixed down oi’ tonnes of debris can't be fixed down or made safe before the next hurricane is due to hit. the last thing these communities need. adding to the problems here, the drains are clogged with debris. more flooding seems inevitable. there is a lot of loose debris all over, the trees acting like a barricade to the strong winds, some of the leaves are gone and the trees have fallen. the trees on the hillsides, so if we have a lot of rain we are going to have a lot of rain we are going to have some erosion and potential mudslides, so that is a big concern. everyone here is doing all they can to p

. ♪ ♪ francine: joe kaeser is a rare breed of chief executive who has dedicated his entire professional single company. he was a young business graduate when he joined siemens in 1980, moving up the ranks and around the world for a company described by angela merkel as a flagship of the german economy. siemens truly powers modern life, making everything from turbines and health scanners and ovens and factory equipment. joining me, chief executive

michael bloomberg spoke with francine lacqua about one key global relationship between china and the by an enormous amount goods from them. they buy an enormous amount of services and technology from us. in this together. i don't think you should think that the chinese have gone from making low-quality products that depended on cheap labor, baseball caps on t-shirts, and norm as quantities, then as their labor force became more sophisticated and wanted more money, they were priced out of that market and it went to bangladesh, indonesia and other places, and they started making more sophisticated products. what was a joke made in china and meant cheap stuff, went to made in china means quality stuff. made in china. if you think they can't make quality products, they can. they went from copying everything they did to inventing their own stuff. there is nothing that can stop the progression. we have to make sure we don't fall back. we can fall back very easily if we don't innovate, if we don't improve our public school system, which is getting worse, if we have immigration policies that

for francine it's all too much. all the shelters are full.astation, you notice i have on different shoes. i can't find any clothes. you notice how i'm dressed. we really need help here, because a lot of people are suffering. the harsh reality here is that all the tons of debris can't be fixed down or made safe before the next hurricane is due to hit. adding to the problems here, the drains are clogged with debris, more flooding seems inevitable. there's a lot of loose debris all overment the trees act like a barricade to the strong winds, all the leaves are gone. some of the trees have fallen. the trees on the hillsides, so if we have a lot of rain, we will have some erosion and potential mudslides. that's a big concern. everyone here is doing all they can to prepare. more than 20,000 british citizens facing their second potentially devastating hurricane in as many weeks. indications that hurricane maria is making landfall here on the british virgin islands. what we don't know, of course, is the strength of the winds, which we will face here

for francine, it's all too much. because all the shelters are full. this is the devastation.oes. i can't find any clothes. we really need help here. there's a lot of people suffering. are you strong enough to take this again, another hurricane? well, no, but what can we do? hope and pray. sorry, dad. it's terrible. we don't know what to do. i believe that the last time, goodbye, we've got to face it. we wish you all the best. good luck. yeah, thank you so much. the harsh reality here is that all the tonnes of debris can't be fixed down or made safe before the next hurricane is due to hit. the last thing these communities need. they've been doing their best to move these mountains of wreckage to the side of the roads, to make some sort of sense of what is total chaos. but with winds now predicted to once again top 100 mph, every piece of this wood and plastic and these metal roofing sheets become potentially deadly airborne missiles. adding to the problems here, the drains are clogged with debris. more flooding seems inevitable. frightening times, aren't they, with this other

francine: this is the first edition so as michael bloomberg was saying, 50 heads of state.need for the form is to figure out what the next 10 to 20 years will bring. if you look at the pace of technology, the change over the last eight years is more than we had over the last 250. by bringing people together, this forum is trying to get a conversation started on how to fix some of the problems. i will be focusing on a panel of the un's sustainable development goals. it is a way of getting your brand to be good and liked. is it a massive pr exercise? are certain businesses taking it seriously, and how do you measure it? how do you know someone is not cheating when they say they want more financial inclusion in the world. alix: what about u.s. politics on the ground? of the key lot sessions will address the concerns that may be more emerging markets have had. one session i am particularly keen to listen to is the march of multilateralism. this is another way to talk about globalization. we will hear from the french president, he will be joining us . we will also hear from the