the beauty is that the managers of glencore are some of the biggest shareholders of glencore.s 8% of the company. with the management team, it probably pushes 15%-20%. they are not irrational people. we have a strong degree of confidence that they will reallocate capital in a way that is reasonable. tom: is the commodity rebound -- we have had a number of guests that are saying no, no, no. is the commodity bear market over? erik: i think it is. we are not super bullish on commodities. we have an underlying story of global growth that is better. we might be pushing 4% in global gdp growth. that is good for commodities. holding.s you a nice tom: that's where i wanted to set up david herro. some of the nice south american commodities, the iron ore, can you get out front and buy south america? david: iron or is a little tricky because of the nature of the supply curve and there are probably one or two producers who have low cost positions. this is why we like glencore and their exposure to copper, which has a very steep cost curve. come you don'tp have this instant influx of suppl

rio tinto, glencore, billiton, all trading softer, one .3%, just shy of 1%.e moves coming through. on the upside, i have got royal dutch shell mbps well into the mix. maybe we are seeing some evidence of that chart coming through. we will wait for next to open and see what the market makers make of the numbers and the outlook delivered by that business this morning. the bank of england monetary policy committee gets set to deliver the rate decision later today. it is grappling with a familiar trade-off. that is the dilemma facing policymakers. they will decide whether to start unwinding some of the brexit stimulus put in place last year. last five days, eurosterling has been on offer. the pound has been bid. is an 80% chance the bank of england will hike in february. me.s sitting next to >> i wish i could. it would be such a non-'s consensus call to say i think that there is a chance they are going to hike rates in the next six months. i'm sorry. i think i'm with the majority. i really do not think there is a great likelihood of a rate hike. do i think there

copper or heaps like almost everything around the tondo belong to the swiss mining company multi glencore this is this no doubt which is a responsible for the emissions affecting the people in terms of just problems problems and so on and so forth in two thousand and thirteen he founded the green party of zambia by going into politics he now plans to fight the consequences of zombies environmental destruction at the national level. you know it takes a lot of courage to stand up to governments and businesses here on the african continent if you're enjoying today's show do care to join us again next week my name is joy and we were coming to you from the current blacks in museums here in nairobi kenya and till next time for me. are you involved in an environmental project and do tell us about it on all social media pages or send of the mail you see the addresses in the credits in just a moment thanks for watching and goodbye from me to you in the show and lagos nigeria. the main line was the first train line in sri lanka. the british colonisers built to transport. now it links some of the co

they include volkswagen, glencore, santander. is a little bit of rumormongering about who among those may be next, that they may sell some of their stakes. to emmaour thanks chandra with our mover of the hour. much appreciated. meanwhile, private equity firms have been on a fund-raising blitz. bain capital beating expectations, raising over $9 billion for its next buyout fund. bloomberg's new york bureau chief, jason kelly, is here and joined by bain's managing director. jason: i am here with the comanaging partner of bain capital. big news this week. a new fund in north america, $9.4 billion. more than you expected to get. tell us about the fundraising environment out there. fundshave been raising 12 . this is our 12th fund. we have 20 ones we have raised in 30 years. this environment is in some ways similar to the past for us. we have investors who have been with us for three decades, actually. a lot of those investors are looking to increase their commitments. they love the asset class. they love what we have done. but the rea

investment growth, in fact, hitting an 18-year low minors glencore, rio tinto falling on the news. 21st century fox's ceo expressing optimism that the uk would approve its $15 billion bid to require sky, despite facing scrutiny from regulators at an event in cambridge murdoch said okaying the deal would show the uk is open to inward investment as it approaches the brexit the uk, by the way, continues to be a popular destination for m & a, but the rest of europe so far this year has seen a decline in inbound m & a, down about 4% that according to thomson reuters. hermes with concerns about the strength of the euro next year other luxury players, kering, which owns gucci, christian dior falling on the news, as well let's talk about british retail company thomas cook also in focus, striking an alliance with expedia. what's this mean expedia basically becomes thomas cook's preferred hotel provider for certain holiday sales. both stocks lower at this moment back to you, john. >> thank you, seema. >>> and meanwhile, pharma bro martin shkreli behind bars this morning. me meg is back at headqua

chinese exports slowed in august to a rate of 5.5% you see the companies all down about 3% meantime, glencoregreed to selt bulk of the nearly 20% stake in russian state controlled oil giant to a chinese energy company a deal worth about a $9 billion deal in the retail space, deutsche bank reduced the target on marks & spencer. they have a hold rating on the stock. down about 2%. and wee finished with a look at how european insurers have faired over this week. you can see it's been a very tough week swiss reed is down 4%. and axa is also in the red next week we have a norway election and the bank ofening glanld also meeting. >> lots of potential catalysts thank you. it's not just florida bracing for irma, georgia is also in the path of what is now a category four hurricane our diana olick is in savannah diana? >> report of savannah is a lot bigger deal than you might think. this is the fourth largest shipping container facility in all of north america, second largest on the east coast. second only to new york and new jersey and after hurricane matthew, it took two months to catch up fully with

down, glencore a agasta aofter, antof little softer. let's see what is moving to the upside. know why it is doing this, but that is ericsson. it puts the full name in, but it is ericsson. i think it is an upgrade. by 2.47% this morning. elsewhere, nestle, another stock worth keeping an eye on. nestle trading up by seven -- .7%. those are the stocks. monetary policy continuing to dominate. absolutely. geopolitics, traders have been giving another -- given another north korea wake-up call. struck back at donald trump's threats to destroy it, kim jong-un has warmed of -- warned of countermeasures, which foreign ministers say could include testing a hydrogen bomb in the pacific ocean. with us, the global head of flow strategy and solutions at socgen . let's go through how the market has reacted to this and why because i know it is controversial to buy the yen at times when japan is the very nation threatened with nuclear tax. >> absolutely. i think the market has been concerned, but not to the extent volatilityave exploded. one asset where we see interest is the yen because it is

bhp billiton and glencore, ex-dividends will trim 5.6 points off the ftse 100 and 8.74 points after -f the ftse 200. it looks as if we have got two different stories, to roads in the snow he would and equity traders. equities are bid, london, paris, and frankfurt are bid. they are indicated higher and the dollar is lower. that is different -- they like the debt ceiling extension but abe, and mr. moon are in flood of loss got -- vladivl ostok. .47 off life is taking the market. it is the ecb day as you have donald trump reaching out across the aisle in the united states. it is a beautiful day in london. ♪ manus: just under one minute to go until the start of the european trading day. equities are indicated higher. just one line on air berlin. it is a small value stock, up 25% on a number of different exchanges. one as air berlin sells more than 2 million shares yesterday. let us keep an eye on air berlin when it opens. matt. matt: mayor berlin -- air .erlin, only $.27 also fascinating for me this week, because i am in new york, the euro-dollar rate during the is one theuro index ecb wi

look at glencore, down by about 4%. possibly there are costs hitting the share price as well as falling production. australian miners are raising output and that's what we're seeing in terms of a possible knock on effect. those are the three bloomberg terminal charts that you do need to know. we will see what happens over the next few days. betty: a lot of things happening from that gold form. joining us from sydney is jonathan barrett, who focuses not only on gold but commodities markets in general. we will get to oil in a moment. in terms of gold, we keep hearing this forecast, the chairman of the world gold seeing gainswe're in the next few months. where are you on that? >> generally am going to be positive. maybe 1400. in my mind, we are still in that phase. and this is based on what exactly, jonathan? >> we looked at it from a technical side and salt a down trend from about 2011. we broke it two or three months as we are far concerned, as long as it is safer above that level, you got to be bullish. the nice thing i

we had a great chat yesterday about glencore.e copper and cobalt produced for a lot of these mi ners will be important even with the introduction of electric cars because that stuff is used in batteries. back to brexit. what to do about the irish border? anna edwards has more. anna: that border largely melted away in the 1990's due to the good friday agreement, and the fact that both economies were part of the single market. after europe -- the u.k. leaves, it will be the only land border and they believe people and goods should be able to move seamlessly. john broughton joins us now from dublin -- john bruton joins us from dublin. we heard from theresa may and she says she wants a creative relationship and a deep partnership. are you any closer to understanding what the trade relationship will look like? know i think we need to first of all what relationship britain wants with the european union. talking about a full partnership, that is just words. that does not contain any detail as to whether for example the e.u. standards wo