ever no one ceo of glencore.s enormously charismatic energetic. he is the face of the company. now suddenly, investors and the toustry are being forced think about the possibility of a future where glencore is no longer being run by him. vonnie: thanks. we have about six minutes until the european close. here's a look at where they are trading. the ftse is having just a little bit of the game. this is bloomberg. ♪ we are let's see where set. negative territory. ton .3% after a good start the session. auto that comes from italy. we had credit rating over the weekend not as bad as some expected. this is after the coalition of the budget and they said they are willing to create a dialogue with russell's and not translate into -- with brussels. there are 35 stocks on this index in total. 2017 profit for a grocer. italy, up three announcing its magnetic he marelli deal. profits declining for the first rain ourive years in holdings. phillips is down 8.7%. third quarter estimates, the biggest drop in two years. we can l

he wants glencore's next leader to come from a younger generation. won u.s. approval for a merger to create the world's largest supplier of industrial gases. the federal trade commission will ok the deal on conditions that the companies resolve concerns that their combination will hurt competition. shares of both jumped in frankfurt and new york. haidi: lufthansa is said to be considering whether to buy boeing planes or stick with airbus. we are told the decision is between the dream liner and the a350 and an order may come in the next few months. the deal may hinge on whether the plane makers will help lufthansa offload its older models. we are getting some headlines on the bloomberg. president trump, "usa today" reporting that president trump is calling the death of journalist jamal khashoggi a plot gone awry. president trump telling "usa today" that many possible penalties are there for the saudi's, that the death of jamal khashoggi was a plot gone awry, according to "usa today," saying that president trump has told the media company that there are many po

. ♪ glencore are lower after the ceo told investors he will retire in three to five years. why no? doesn't look like he's getting rid of any shares. why announce his retirement? >> well, he hasn't announced it as such. thisimportant to say that is in private conversations with investors. one of the key things happening is investors are asking more questions. he's getting to an age where people might start to think about retirement, and the other thing prompting more questions is that glencore announced they had been subpoenaed in a corruption and money laundering probe relating to activities in congo, venezuela and nigeria,. ♪ ♪ down le gin place with above average volume. we are trading above the last 30 days, both sides of the atlantic. you is the avac function, can slice and dice it a number of different ways. there's the bar chart down at the bottom, you can see the track. the white line is the track today in terms of where volume is. we are trading on above-average volume. emma: there are about 30,000 functions on the bloomberg, and we always enjoy showing you are favorites on

. >> shares of glencore are lower after the ceo told investors he will retire in three to five years.he owns more than 8% of the company, and it doesn't look like he's getting rid of any shares anytime soon. why announce his retirement? >> well, he hasn't announced it as such. i think it's important to say that this is in private conversations with investors. i think probably the key thing happening is investors are beginning to ask more questions about it. he's getting to an age where people might start to think about retirement, and the other that has happened recently that is prompting more questions is that glencore announced they had been subpoenaed by the u.s. department of justice in a corruption and money laundering probe relating to activities in congo, venezuela, and nigeria. ♪ >> you have a down leg in price and above average volume. we are trading above the last 30 days and terms of the volume on both sides of the atlantic. this is the avac function, you can slice and dice it a number of different ways. there's the bar chart down at the bottom. you can see the track. the w

the man who built glencore into a dominant force in commodities telling investors that he will retireee to five years. bloomberg has learned he has started training three to four front runners as the neck ceo. he turns 62 in january. a giving boeing a shot at winning its next order. bloomberg has learned the german airline has asked for proposals from boeing and airbus, which want to sell the carrier more a350's. they will help the airline get rid of its old fuel guzzling a340's. elon musk has taken a step forward in his vision for the future of dublin transportation. he has announced his company for the hyperloop will open in less than two months. it is unclear what sort of use tort musk will achieve the top speeds of 670 miles per hour. that is your business flash update. we the worries are there -- are there -- we're talking about 760 miles per hour. the trial tunnel, which is the top speed of 155 miles per hour. >> musk is not the only one attempting this. the other genius billionaire, richard branson, is going for a hyperloop. the idea is getting traction, but is very early going

anna: long on glencore, why that way? >> partly because it is cheap.rrected a viciously when copper went down so badly. people wereber, getting very worried around $200. that was a key level. in the meantime, they have changed their exposure significantly. not as exposed to the downside, but any recovery is very good. in the meantime, it is a stable credit. and yougo and do this can pick up another 30 or 40 basis points. way, if that is the way you play copper, how do you play oil? >> for us, it is about the oil services business. like the pipelines over in australia, etp in the united states. -- meg exposed to make before the takeover. there are plenty of companies on the peripheral of oil that make good margins and some a volume goes up and demand improves. forget, that is great. great.debt, that is anna: thanks. we continue our conversation. this is bloomberg. ♪ matt: we are 30 minutes in, let's look at your top headlines. dipped from as seven-year high after donald trump repeats his view that the fed does not need to hike. bond rally in germany but

glencore down 1.9%.anley put out a note they were expecting shares to be marginally lower after third-quarter production missed morgan stanley's estimates in copper, nickel, and oil. rbs down nearly 5% this morning, the most it dropped since june. third-quarter earnings beat estimates but they took the cfo taking a conference call, saying it reflects brexit uncertainty. nejra: thank you so much. ending on the right note, brexit uncertainty. that's what we're talking about next. bloomberg sources say theresa may's cabinet is not close enough to agreeing on a way forward for top-level negotiations to resume. british officials will not put forward a new plant before monday's budget. sandra crowl is still with us. this goes on and on. we keep hitting walls with this. and the pound, a little bit of a slave to it. cable lost .5%, at 128.17. how do you approach this on the investment committee? do you stay away? do you do it through the bond market? sandra: there are several ways. for the last 18 months, we wan

david: didn't glencore want to buy it at some point?lled not clear what happened, but the ceo said he really wants to expand and agriculture markets. he primarily wants to buy companies with existing infrastructure. bangui would seem to be a good option for them. this company also help talks with archer daniels midland earlier this year. those conversations tell apart in part because the conversations --talks about antitrust. alix: only about five of them have that scale. >> the main agricultural processors. it will be interesting to see if that company takes another step at conversations with bungy now that you have activist investors prompting the review. alix: they missed on their sales but provides the full year guidance. >> i also wonder if that sped along the agreement. the ceo had made big promises about second-half performance at bungy him and delivering with that guidance cut. you wonder if that made him take these demands more seriously. alix: brooke sutherland, thank you. coming up, an exclusive interview with marc lasry, ave

the man who builds glencore into a dominant force has told investors he will retire in three to fourears. training three to four front runners as the next ceo. he turned 62 in january -- he turns 62 in january. david: shanghai stocks had their best -- joining us now from hong kong is bloomberg's chief economics correspondent. thank you for being with us. we are putting up a chart that shows how high shanghai stocks have gone. off 3 trillionll for the year in total. a broad,ave had is concerted effort by officials to shore up confidence in the market. what we have seen is president xi jinping referred to unwavering support for the private sector. we have had the central bank and the stock exchange regulator talk about taking measures to offset risk and ease the financial burden. topping it off, we have had something of a sweeping proposal for tax cuts. much broader than most people have anticipated. hand, say on the other volatility has returned with a bank. it is at the highest in 47 indexes tracked by bloomberg. my colleague has said it is either heaven or hell in china's market at

we will focus on commodities and talk about glencore and oil. bloomberg. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. they slump after reported china infiltrated 30 u.s. companies. jobs friday, yields on the 10 year cover seven-year highs. they back down, from the plan to have a single base in the netherlands. hello, everyone. this is bloomberg surveillance in london. tom keene is in new york. happy friday. it's been a busy week and it will be a big friday. we look at jobs and emerging markets. we talk about what will happen in the brazil elections. we have breaking news out of india. tom: i have no idea what calibrated tightening is. we w