steven major relocating to hong kong for hsbc.te a statement from the bank on their research capability going forward. we have the political issues of hong kong. i don't want you to comment on that. i understand that's inappropriate. but i want you to comment on the dollar as a compensating factor given interest rate movement. you do follow foreign-exchange. because of that, do you buy weak dollar given the calls for higher yield? a very interesting fact, that total return for dollar-based investor, whether he be holding chinese bonds, european bonds, u.k. bonds, u.s. bonds, whatever, in dollar terms has been between 7% to 10% this year so far. so with a broad-based index of everything, you have had 7% to 10%. in the case of buying china, recently of course, you will know that a good 5% of that has come from the currency because the chinese currencies have had a good run. that is after the dollar probably went too far. so for a fixed-income investor, fact that there is no yield apparently, apparently there is no yield on offer, yo

manus: i had the global head of hsbc. why not pit the two of you?an we get a bid and an offer from the two big houses? they say that risk on, risk off is over. we will revert to focusing on growth. a divergent dollar and 22 anyone. do you see i divergent dollar -- a divergent dollar? up against the euro and sterling. divergent dollar play for you? sam: it's not a diversion dollar play for us. it's a broadly coordinated weakening in the dollar. the challenge with focusing too much on growth differentials is with central banks so far behind the curve, the feedthrough from growth outperformance to currencies isn't that clear. the u.s. is a great example. suppose u.s. gross outperforms. that should lead to u.s. inflation expectations rising. responding, itt means u.s. your -- real yields fall further. the dollar versus lower the currencies is typically more quarterly correlated with relative real yield spreads. in the state of the world where u.s. growth outperformance equals lower u.s. real yield, i would argue that good news for the u.s. is bad news f

max kettner still with us from hsbc.now this is may be unique in some ways, the ipo's, but for example, airbnb before the $18 billion.orth after lockdown, when no one is allowed to travel, all of a sudden, there is a $100 billion company. what kind of reflation trade are we looking at right here? repression,ncial central banks pushing investors into anything risky for return? max: you have just given the answer i think. there is not a lot of that i could add i think. the thing about regulations versus why tech is still holding up so well globally, but particularly in the u.s., if -- perhaps it's not really that much about the fight. it's much more about the perfection of tech being a long-duration play, a real yield play, and as long as you see real yields so depressed, think -- -100 basis points, having fallen again over the last couple of weeks. that of course really supports the tech trade and it supports the sort of tech rally in 2021, because there will be very little change to that. you just alluded to that and i g

he claims his bank account of his wife and parents were frozen not only at hsbc but other accounts in the city. there are local reports there was a temporary unfreezing of the accounts where the family was able to dig out all or some of the funds but still, the police have again asked hsbc and other banks to refreeze those accounts. superintendent in charge of the national security department in hong kong is saying they are investigating past crowdfunding endeavors on allegations or suspicion of possible money laundering as well as collusion with foreign forces. that is why they requested those to be frozen. media, ted iscial saying this is a situation that erodes the faith in the city's banking system. a response from hsbc that i must read -- we have to abide by the laws of the jurisdiction in which we operate. we are unable to comment specifically on certain count activity, however it is disappointing to see the circumstances of this case being misrepresented. todi: for now, let's turn karina mitchell with the first word headlines. karina: it's something we have all been waiting for

us, seniorstill with hsbc fx strategist.h of what we are seeing in volatility is due to crowded positioning? dominic: i think it is one of for liquiditys going into a normally quiet time of year. moresitioning alongside widely used spots on the inn. they are showing dollar shorts are very popular. into 2021 -- that has been the consensus pretty much every year for the last five years. positioning will be a short-term maneuver, not something to think about for six months. tom: we will follow this through the morning. indexng news, the s&p 500 now through a 30 level. that is always a big deal. lisa: dominic, to follow what you are talking about and what tom is highlighting, if this is a short-term issue does that mean you want to go against it and dive in? either short the dollar, sell the dollar, by sterling, go against a consensus trade? dominic: i'm not sure i would want to go against sterling. sterling remains one of those currencies where there is so much to mystically challenging i would not want to go against it there.

jonathan: 75 basis points is the 2021.rom hsbc, year-end that is what steve major is looking for. we had a line of really smart people being made to look foolish by a bond market and yields that refused to go materially higher. i have been asking, if we get a selloff in the bond market, immaterial one, 50 to 100 basis points, how self-limiting is that selloff? how long before yields kick higher, and equity in risk assets fall out of bed, and yields kick lower again? how long before yields higher starts to weigh on concerns about growth because of the debt load, and then yields come back in again? the only way you see treasury yields materially higher is either we could generate the kind of outlook for growth and inflation that leads to higher materially so in that five or 10 years, or two, you start to question the credit of the u.s. government. tom: you sound like you are on the edge of lisa abramowicz, there. [laughter] lisa: he's like, not that. jonathan: we had the stress tests. tom: the gloom is just killing me. jonathan: which way do yields go? lisa: happy birthday. tom: ok,

liz martin at hsbc and make sure you keep it right here on bloomberg. bring you that this morning. let's get a recap of the first word news with laura wright. laura: the federal reserve is pledging to keep supporting the economy well into the future. it's maintaining its massive asset purchase program until it sees progress on employment and prices. speaking at yesterday's policy meeting, chairman jerome powell said he expects the economy to bounce back in the second half of 2021. but he's warning the next few months will be challenging. congressional leaders are still haggling over the final details of the nearly $900 billion coronavirus aid plan. sources tell us it includes $600 checks for americans and an extra $300 a week in unemployment payments. it also includes roughly $17 billion for airlines. the u.k. expects its medicines regulator to decide on approval for the oxford astro vaccine in the next few weeks and that sets up a decision in early january or potentially even sooner. the u.k. has already approved the shot from pfizer and biontech and v

mon.than: 1-800-di that steve online major at hsbc on line two.emarkable statement from the leader of jp morgan saying, i'm ready to go. tom: the constraints are there. too big to fail and all that. but i must admit, i really noticed that was quite a comment from him, but it really speaks to what you see within this competitive landscape of one great roll up, and whether you will see one big combination as we move forward. catherine manette citigroup has really lead on this thinking. onathan: i want to touch the market for we get to our next guest. we are up three on the s&p 500. another record high, and we add just a little wood of weight to it. through 3700. yields coming up a couple of basis points. no drama here, back to about 94 basis points on the u.s. ten-year. the main scheduled event now on the horizon in the diary is the ecb meeting about 24 hours away. tom: that is the economics of the moment, and that is what we do best here. we are thrilled you are with us on radio and television. right now, an adult conversation on the moment in init

hsbc also falling. stocks have done well on expectations of cyclical trade and expectations of dividends to be paid out. shale also in focus, oil prices down. about the extent to which it is weighing on their business. ocado one of the bright spots, up by just over 3%. many people getting back into those home delivery trades. more on markets when we return. this is bloomberg. ♪ welcome back to the european market open. 30 minutes into the trading session. if you were hoping to a quiet run-up to the christmas period, no such luck. stocks falling with european equity markets falling quite considerably. the stoxx 600 down by just over 2%. the ftse 100 cushioned from some of the worst of those falls because of the weakness we see in the pound. that relationship, that negative correlation between the two, standing. in terms of the sectors in focus, travel and leisure is the worst-performing sector. we see banking stocks coming under pressure. to the upside, we have some money going into some of the more work

there is the cohead of asia-pacific at hsbc. of the hong kong stock exchange right now. also, the ceo of the canada pension plan investment board and a former jp morgan banker has been flagged. what we have been told is they are still deliberating. rishaad: all right, lulu chen there. our exclusive interview with reforms into the city into the top fundraising venue. see what yields do next as he prepares the stepped out. get more on this conversation with charles lee on bloomberg. ♪ juliette: coming up, we will be speaking to a company that accounts for half of india's fast-moving sector. ruralabout the strong demands that is a rare bright spot in the consumer market. that is next. this is bloomberg. ♪ ♪ rishaad: it is time for our india focus. consumer goods companies. a revival as the company is one of the top home and personal care companies in india and the product is used by almost every household. labs,g us now is jyothy ullas kamath. how bad was the pandemic for you and how is it looking right now? ullas: thank you very m

hsbc is one of the biggest stocks on the benchmark.he rest of the world, the stock markets were really strong, tech was very strong in the u.s., the hang seng index, which has all these companies listed, i mean, the hong kong stock exchange has always tech companies, these giants listed, but is not represented in the hsi because of these rules that have been in really, it was formed back in the late 60's. it just really -- it's a significant overhaul to capture the growth for the chinese tech giants. asking forseng is some feedback on all of this. it is not a done deal yet. you can make a response until january 24. it's going to succeed in making it a better index. sofia: we talked to some people yesterday and today this morning and it makes sense. it will be support for it also. tracking the etf index, if you are a fund manager in hong kong, you want to have an index that is doing well. captures an index that hong kong's economy as such but really captures the best companies here in the stock exchange. my sense is that there will be s

we will get the view of hsbc fred newman.for bitcoin. $21,000tocurrency past as it is best institutional funds. much more ahead. shery: bitcoin has broken the $20,000 barrier for the first time in more analysts are saying it will not stop there. bitcoin's milestone brought it to its 2020 gains to 190%. scott minerd believes it still has some way to go telling bloomberg it could eventually be worth $400,000. in an exclusive interview, he said his approach to bitcoin is driven by what he calls the federal because ramp to -- rampant money printing. >> i remember when we first did qe, my comment to people at the fed at the time was i do not know how you unwind this without having some financial accident. i think we got that. we saw that in the taper tantrum anyback in 2018, so no unwind of these programs were even stopping them leaves the ,ed and the economy vulnerable specifically of concern is the ,orporate bond purchase program and municipal debt or public financing program where we see organizations who have basically weped o

let's start with hsbc food service. to reduce from hold, a major name for retailers in saudi. had a local broker raising mumbai to over week from neutral. also saudi, zinc saudi, to overrate from neutral. two big names within the telecom sector in the kingdom. finally we had ncb capital increasing their recommendation for extra to overrate from neutral. manus: thank you so much. humphrey is going to get us up to speed with the business flash headlines. desley: deutsche bank may move some of its 46 hundred new york city staff elsewhere in the u.s., although there are no concrete plans yet. they are discussing how to let more employees work from home out of cities. said deutsche may cut its new york headcount by half in the next five years. however, she added that men would remain to a degree the bank's -- workers at an apple plant vandalized iphone assembly equipment in a dispute over unpaid wages and longer working hours. the economic times says video images exist, and police were needed to disperse the angry crowd. the plant is operated by a taiwan-based company. the incident

stephen: he is saying that basically his bank account here in hong kong, hsbc and other banks, his wife's and family accounts have been present. it was reported they may be temporarily unfrozen and some money was able to be taken out. but the police super senior intendant in charge of the national security law department of the hong kong police yesterday urging the banks to freeze these accounts. there's an ongoing investigation into his crowdfunding efforts during the protest movement. there's allegations perhaps of money laundering or collusion with foreign forces. so that is why the police justified this is an ongoing investigation, perhaps under the national security law. the exiled former opposition lawmaker, he's in the u.k. he is saying this is an extremely serious situation and a road to face in the city's banking system. i might add, we are getting reports from a local church group, keep in mind, some of the religious groups in hong kong helped raise the money for some of the protest movements over the last 1.5 years. this particular church group, the good neighbor north district

alastair: a couple of fund managers, including hsbc, have recently started natural capital investmentthey are raising capital to theyy in businesses that think are making a positive contribution to nature. there is a way in which you can turn this into an asset-gathering and moneymaking venture. for the most part, it is mainly people thinking, oh my gosh, the statistics on biodiversity are terrible. we are facinged, a record amount of species facing extinction. one million species of animals and plants currently facing extinction. that, according to the world economic forum, that and the board of biodiversity loss, means we are facing costs. it is a massive financial risk. it is being seen at this point through the prism of risk, there are 70-something people that are making hay, so to speak, and marketing funds. is great to have you with us. that is bloomberg's alastair marsh. you can find alastair's piece on the terminal. don't miss the next episode of bloomberg green. that will be on friday at 8:30 p.m. eastern. recapping that breaking news that vonnie told you about. the new goat

manus: i cut up with the new person in charge of hsbc.e talked about currency and how he thought about the dollar. he said we should begin to look at a bifurcated in the dollar going into next year, that it will be a differentiated dollar, a bifurcated dollar in terms of what it weakens and strengthens. how do differentiated dollar into 2021? peter: i wouldn't bifurcate it at all. i think it will weaken very aggressively. we are seeing a very rapid deterioration in u.s. trade balance. that will be followed up in the coming months i a rapid deterioration in currency. currency printing around 4% of gdp. you can easily get to levels of 6% of gdp by the end of the second quarter. the dollar is still very rich. as we see these macro economic imbalances play out, that is going to lead to continued dollar weakness. i think on a trade-weighted basis, the dollar will weaken anywhere between 15% to 25% from current levels. it it is like i said before, is their dollar but it is everybody else's problem. it is a good problem to have is what we tend t

the 10 year yield actually comes in back again, then you low yield -- i note a -- i know in on this hsbc on this. what is the societal impact of low yields? frances: i would be more concerned if we were to see a breakaway higher. this is everything every day -- rates are moving higher, too much inflation in the system -- we should be more afraid of stagflation and painful inflation coming through and the fred losing control of the yield curve. important, aso france is always lays out so well, how widely asymmetric in the behavior is. everyone is in a panic about how yield, yet we observe on the bloomberg tests of lower rates. thethan: which begs question where this expectation for higher inflation comes from, given your analysis of the economy, how it will materialize in the next 12 to 18 months. frances: in some ways, higher inflation is justified. heading into april of 2021, we will hit inflation that haps comes as close as 3% with upsides. -based,f that is math disruption in the goods based thatmy, the weak usc, but is not permanently high inflation. if inflation is not permanently 3%

six months ago, he was also one of the names that was thrown in as a possible replacement for the hsbc was doing a good enough job at unicredit to be in the running for other potential jobs. annmarie: thanks to francine lacqua. more coverage on this story when she comes up later in the program at 9:00 a.m. u.k. 10. that does it for us. another bit of banking news, lloyds ceo going over to credit suisse to be the chairman. manus:. . absolutely. a new chairman. it is a day of banking. what we need is dividends to return and then you get a fuyll cyclical tilt. we are going to do it all again tomorrow. anna edwards, she is on her own. this is bloomberg. ♪ are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. t

independent currency strategist, formerly head of fx at hsbc. tobiasup on "the open," levkovich. 2021 at the bottom of the pile of the strategists we survey. lisa abramowicz, 3800 over at city in line with the 3800 at bank of america. lisa: i'm interesting to see what he has to say. i am still stuck on david bloom's recommendations that also have to do with currency. jonathan: shed those pounds. lisa: love the pun. thanks so much. will be checking out the interview. one thing that has been catching people's attention is the question of whether the big cities will remain hubs for the financial world. the latest weighing in, deutsche bank, with the financial times reporting they may move half of their staffers based in new york city out of the city into other regional hubs. sonali basak has been covering the entire wall street story as bloomberg's wall street supporter, what is this story, what are the details so far we know about deutsche bank's plans? sonali: there is no concrete plan right now, but we do know there is a concrete plan once they move into the time warner center ne

big move for currencies down 1.3% on the pound, as you can see all the major british banks, lloyd, hsbcbarclays are all down, 1, 2, 3, even 4%. watch the financials overseas. watch the currency markets our dollar has been weakening a little bit lately, as well except against the sterling this morning. >>> why don't we stay there with europe and a developing story and a good news one to start the week the uk's national health service said it will begin vaccinating patients at least a dozen locations beginning tomorrow start of what could be the single largest immunization program in that nation's history. juliana has been covering the story since day one. she'll stay with it, as well it's a big day for the uk and many of its residents tomorrow how will the vaccination program work >> well, brian, it absolutely is going to be a huge day tomorrow here in the uk over the weekend, refrigerated containers holding the vaccine have been arriving in the uk from belgium upon arrival, it undergoes a quality assurance process taking up between 12 and 24 hours then the cases of vaccines are zriblted

the bank hsbc have been kri criticized for freezing assets of a lawmaker and pastor.ing's support of the new national security law isn't wavering, michael. >> christi allow stout kristie kong. appreciate it. thank you for your company. i'm michael holmes. thanks for spending part of your day with me. i'm off now. "early start" is up next. you're watching cnn. robinhood believes now is the time to do money. without the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood. my gums are irritated. i don't have to worry about that, do i? harmful bacteria lurk just below the gum line. crest gum detoxify works below the gum line to neutralize harmful plaque bacteria and help reverse early gum damage. crest. do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly

that makes that happen for some 18,000 companies, including home depot, chipotle, to financials like hsbc and gm financial. but now it's making a quantum leap. it's banking on what could be the bank of the future with a twist. bella is this new banking app with a credit card attached but comparisons to the legacy banks end there. liveperson ceo rob locasio is here to exclusively unveil bella for us. give us the nuts and bolts of how bella works, because i'm very interested as we look at all of this, to see exactly how you are different from regular online banks. >> so we want to power something like we see with our platform, conversational a.i. having these conversations powers trust, powers a different connection and we do this across like you said, 18,000 customers. we had this idea, why don't we really try to go deep on this with a bank and build conversational a.i. that could love you, that you could trust and you could have a relationship with and it could help you with your money, and that's really what we built with bella. it's something, like i said, we set a high bar of love. our

ian tandy is the head of trade for hsbc. thank you forjoining us.at we have less than 30 days to 90, that we have less than 30 days to go, we have been talking to customers continually about preparing for this. we think of it ina number of preparing for this. we think of it in a number of days, there are three groups of customers, the company that actuated internationally for many years, they will be aware of the regular —— various regulations, but we are concerned about the second group of companies, the one searchable never just traded second group of companies, the one searchable neverjust traded with the european union, we think it is important that businesses get certainty and more importantly that they think about what that means. and there is a final group, those businesses who do not believe... it is important they talk to suppliers about (inaudible) i about (inaudible) , but the sooner we get certainty the better. we had seen the bank of england giving focused intent of how the overall economy will be affected from brexit in the covid conte

hsbc points out the gulf carriers, saying they are crucial to getting the vaccines distributed globallyst mile transporters, trucking theanies, and then finally very end of the supply chain at least in the u.s. pharmacies, cvs, walgreens will be crucial in getting the shot that started with vaccine makers into the arms of the global population. matt: thank, dani burger talking to us about the distribution chain. that's get a bloomberg business flash. says itsedit suisse investment bank is continuing to perform well with revenue higher in the fourth quarter of last year. the swiss bank is restarting its share buyback program in january, and sees a significant turnaround in asset management in 2021. brexitng that no deal puts its investment in the u.k. at risk. the chief executive said decisions will be made on how it is easiest to conduct business after the split. the company has no plans to scale down or close its british operation. elon musk's spacex is in talks with investors for another round of funding. it wants to double its valuation to as much as $92 billion. it is the world -- i

biggest holding -- the biggest weightings, i should say, are companies like unilever, astrazeneca, hsbco 25 positions down before you get to anything even remotely tech related. that is only vodafone, so still a telecom. we are going to talk more with you about -- you mentioned the u.s. bank position that you hold. we are going to talk about what is going on in america in terms andew records there, possibly the rotation that is going on as well. , the second u.s. case of the highly transmissible covid-19 variant has been detected in california as well. they are having a difficult time of it when it comes to the pandemic. this is bloomberg. ♪ save hundreds on your wireless bill without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you'll only have to pay for the data you need starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. nationwide 5g is now included. switch and save hundred

and don't miss out our guest from hsbc, speaking about equality. stick with us.his is bloomberg. ♪ rishaad: you are back with bloomberg markets. we have this pandemic-driven shift to remote work and learning, powering demand for notebooks. dell says consumers and businesses are spending on devices at a rate not seen in more than a decade. we have been a you with amit , president of asia pacific and japan for adult analogies. a quote from you -- work is something you do, an outcome, not a place or a time. is that the future? rishaad: i think we are having technical problems with him. we will try to get back to him as soon as it can. let's just quickly look at the other business flash headlines as we try to reestablish communications. retailer wish pricing its ipo at the top end of the range, raising more than a billion dollars. the share sale of values was about $17 billion, the 31st on the u.s. exchange to top $1 year.n this we have blockbuster debuts by doordash last week and airbnb. a quick look at the chinese company, defaulting on a bonfire second time this w

the decision is a victory for hsbc and other lenders after they were forced to scrap evidence in marche since been looking to resume payments to attract and keep investors. keeping investors. keeping clients. that is the core issue. we are talking about the big banks in japan. you are looking at $44 billion. that is how much they hold of their biggest clients. the question is how to sell the stakes and keep the businesses without losing clients. our breaking news editor to talk us through this conundrum. let's start with the basics. how big of a problem is this? trillion inut 4.6 their currency, $44 billion. when you take into account the fact holdings have been since after the war, with the nikkei reaching the highest level since the 1990's. is sales value of the shares bigger. the banks have been making progress. if you compare the amount to how much 10 years ago, it is well. almost half they have managed to sell. the problem with that is it started with the low hanging fruit and they have picked up most of it. what is left is the companies who are quite resistant to selling these ho

leslie, switching up the board, we are keeping an eye on hsbc shares in hong kong.ied from a 25-year low it hit in september. that shift towards banks amid this reopening rotation, but most analysts remain pessimistic about this stock. shery: that's it from "daybreak asia." our markets coverage continues as we look ahead to the start of trade in hong kong. this is bloomberg. ♪ >> it is 9:00 in beijing and shanghai, welcome to "bloomberg markets: china open" i'm tom mackenzie. >> we are counting down to the opening of trade, our talk story today stocks paused throughout these global highs, consumer talks in washington and of course product on the vaccine front. fragile -- treasury yields slept in t

hsbc is still with us. this shines a light on two things.ize of stimulus that is needed in the u.s. and the timing of that. one of the assumptions that you are making around the timing of any stimulus is, is it going to come in the trump presidency? more funding other president biden. chris: yeah. we have a degree of stimulus coming through in the near term. potentially more through the course of next year. in the u.s., as in the rest of the world, we are seeing a situation where we are assuming that fiscal support and stimulus will be ongoing for some time. that's part of the 2021 recovery year. we think there's a good case for keeping fiscal policy loose and stimulative as the economy essentially bridges the gap between the very difficult covid and, inright now theory, the future situation where the vaccine is rolled out. we can get to a new sort of steady-state where measures can be tapered. terms of the need for stimulus, we saw some of the data this week suggesting that the u.s. economy is limping towards the years end. when you look at

hsbc up more than 3%.ting of banks in london, that means the ftse 100 is doing well. it is up five 1.25%. we are stronger on the pound and that could have some impact in london what is happening, the broader story around u.k. banks, the banking sector more generally. it is interesting because it is not clear what is driving that. the big story in u.k. banking is dividends. the prospect of payments being allowed to reach dated there has been chatter the bank of england has allowed that. they're the thing is the vaccine story. more and more positive news about that and the economy gets back to normal and that will be great news for the banks. . perhaps low losses will be smaller than that provided. anna: barclays up by 3.5%. not an entirely u.k. story. there is certainly something, maybe the rotation story, the value is part of the narrative. bonusessk you about because i know the jp morgan story has been got a lot of attention. a decent story around bonuses paid that to be expected? tom: interesting. if you

there is not an expectation things are going to rapidly change under biden, but hsbc did a survey ofitutional investors and two thirds of them say they expect to increase their exposure to china and chinese markets by 25% in the next year. haidi: markets coanchor tom mackenzie in beijing. let's check the latest business flash headlines. tesla pushed higher after winning support from the market, goldman sachs bullish, raising the price target to $780, highest on wall street. when investor has been short on tesla for five years but now says elon musk has done a good job. say thefrom japan countries banning sales of new gasoline powered vehicles by 2030 the goal of becoming carbon neutral. broadcaster nhk says the target is 100% electrification or hybrid to move the internal combustion engine out of the market. ev and electric cars make up 29 percent of japan's new vehicle registrations. things are looking up for boeing after a crucial deal for the 737 max for myers carrier ryanair -- carrierfrom irish ryanair in a deal listed at $9 billion. the first passenger, a journalist, took a 737