so hsbc needs to be very careful about allocating who goes where.his does not sound like the fine-tuning they telegraphed that was announced about a month ago. this is mostly about cost i think. paul:paul: this idea has beenred earlier, it is a new wants to pa direction. my suspicion is the outcome will be the same. it's hard to bank the small mom-and-pop shop and mobile conglomerate from the same team. you have a big crossover in the middle of those larger mom-and-pop, smaller big companies with the crossover in the middle. i think they will come to the same conclusion that they won't want to compromise revenue for the sake of cutting cost. paul: senior analyst matt ingram there, thank you for joining us. we have plenty more ahead. this is bloomberg. ♪ paul: let's take a look at some of the movers in hong kong at the moment because there's been a few changes regarding inclusion on the stock connect. let's look at she aging automotive technology. that's an bit -- advancement they will get included in the hong kong stock. this is according to the sha

let's get some answers from hsbc chief economist — fred neuman.gradually, we see the cost of living pressures ease in large part because energy prices are starting to come off, but also food price pressures to stop particularly in southeast asia, south asia, we're on inflation watch this morning, with the latest figures due from thailand and the philippines. prices in the region seem to be tapering off, taking away some cost of living pressures. with the us federal reserve widely expected to lower borrowing cost this month, there's a question mark over what central banks in asia will do. let's get some answers from hsbc chief economist — fred neuman. yes, ever so gradually, we see the cost of living pressures ease in large part the cost of living pressures ease off, �*ge part the cost of living pressures ease off, but)art the cost of living pressures ease off, but also food price come off, but also food price pressures to stop particularly in southeast asia, south asia, food is the largest expenditure for many fossils, poor households in particula

i am joined by the head of global trade solutions at hsbc. earlier the kind of challenges women face in securing finance. fine of face in securing finance. one ofthe face in securing finance. one of the elements _ face in securing finance. one of the elements we - face in securing finance. que: of the elements we found face in securing finance. <1>iez of the elements we found in face in securing finance. <1>i2 of the elements we found in the research is isolation. we know that women are one in five women don't have anyone to talk to or to turn to when they are faced with a challenge. so building networks, communities is a key way to actually unlock that isolation. 50 is a key way to actually unlock that isolation.— that isolation. so is it that they don't _ that isolation. so is it that they don't get _ that isolation. so is it that they don't get access - that isolation. so is it that they don't get access to i that isolation. so is it that l they don't get access to the process or is there something else? �* , . process or is there something

let's cross live now to head of global trade solutions at hsbc uk, stephanie betant.the barriers women face when attempting to access finance for their businesses?- for their businesses? good morning- _ for their businesses? good morning. pleasure - for their businesses? good morning. pleasure to - for their businesses? good morning. pleasure to be i for their businesses? good i morning. pleasure to be here. one of the elements we found in the research is isolation. what we know is that one in five women don't have anyone to talk to or to turn to when they are faced with the challenge, so building networks, communities is a key way to actually unlock the isolation.— the isolation. but they don't aet the isolation. but they don't get access _ the isolation. but they don't get access to _ the isolation. but they don't get access to the _ the isolation. but they don't get access to the process? i the isolation. but they don't i get access to the process? or is it something else? it’s get access to the process? or is it something else?— is it something else? it's a combin

hsbc chief economist fred neuman told me some economies turned a corner.er so gradually, we see the cost of living pressures ease in large part because energy prices are starting to come off, but also food price pressures to stop particularly in southeast asia, south asia, food is the largest expenditure for many households, poor households in particular, and when we see food prices come down, this really eases the pressure on the average consumer and opens a door for rate cuts for central banks in asia. we are expecting to see the fed cut rates in september, do you think asian central banks will follow suit? it's opening the gate by the fed, by making the first move, it allows a central asian banks to follow suit and we expect most of the banks in southeast asia and india for example to cut interest rates following the federal reserve move because generally the feeling is that the fed sets the pace and when the fed starts to turn, then we are for turning in asia. after the us, china holds sway in this part of the world, where are their inflation numbers s

growth has slipped to a three month low in august according to a survey of private sector firms by hsbcuntry's economic activity, the slower manufacturing sector growth is casting a shadow over india's otherwise strong economic outlook. the bbc�*s archana shukla reports. new orders and the output from india's factories have seen the lowest growth. export orders are still coming in to clock their weakest rise. people attribute this to shift fears competition and shifts in consumer preferences. inflation has eased and manufacturing output is growing at least. but the low growth does put the economic outlook under the scanner. data released last week showed growth slowed more than a percent to 6.7% last quarter. there was a massive government cut for spend in infrastructure add to that level slowdown, inflation and weaker consumer sentiment in india. this prompts brokerages and economists to cut growth forecast for the year. it also puts pressure on the central bank to begin cutting interest rates. higher rates adjusted for inflation or hurting businesses. so far global gdp growth gave roo

manufacturing activity growth slipped to a three—month low in august, according to a private—sector survey by hsbce country's economic activity, the slower manufacturing sector growth is casting a shadow over india's otherwise strong economic outlook. the bbc�*s archana shukla reports demand in the form of new orders and the output from india's factories, both have seen their slowest growth since the beginning of this year. export orders still coming in but clocked their weakest rise to a few companies. rise too. a few companies attribute this to fierce competition and shifts in consumer preferences. the silver lining is inflation in raw materials has eased, and although just marginally, manufacturing output is at least growing. but this slow growth does put india's economic outlook under the scanner. data released last week showed growth in asia's third largest economy slowed more than a percent to 6.7% last quarter. now, a major reason was a massive cut in government spending in infrastructure during the months long general elections. add to that global slowdown, inflation and weaker consumer se

tom: joining us as janet henry, global chief economist at hsbc.nk you for joining us this morning. your take, the key takeaways for you from this 50 basis point cut from the fed. >> good morning, tom. it was more priced in. the headlines and economists weren't forecasting it yet but it was priced in. some news articles in the course of the last week, but my takeaway was that chair powell was the dovish end of expectations, the other takeaway's they are responding very much to what happens in the labor market and, yes, he sent the signal that people should not look at it and say this is the new pace. it did give a sense that they are a little bit more worried about the labor market than they are letting on, but as they say, it won't be dependent on the data and ultimately, that's what people are focusing on, how far will they eventually go. tom: i want to unpack your take on how the labor market in the u.s. is evolving. the mismatch in terms of the forecast, the dot plot from the fed expecting another 50 basis points by the end of the year versus t

hsbc and nestle were the biggest in the second quarter.c announcing 10 cents per share in the second quarter report and a q3 share buyback of up to $3 billion. meanwhile, nestle said it repurchased 2.4 billion swiss francs in the first half as part of the three-year 20 billion franc buyback program, silvia. >> i remember a couple of months ago we were discussing the trend among european companies. they are now increasing their dividends. the question is sis this a tren that will stick around? i'm pleased to say we have janice henderson looking at these numbers as well. good morning. thanks for joining us on the show. my first question is whether this is here to stay because arabile was just guiding us through some of the numbers and regions and companies involved. what we need to understand is the trend is here to stay. >> it's no doubt we had really good numbers out of europe in the second quarter. i do think the numbers are encouraging. we are expecting dividend growth of 6% f. if i look at the long-term growth rate since '09, it is 6% p

and the other stock is hsbc.nything? >> i know the hsbc. frankly, it's just okay. if you want a foreign bank, please own bank santander. that's a good one. mark? >> caller: boo-yah, jim. >> boo-yah, mark, what's up? >> caller: long-time viewer. thank you for everything you do. >> absolutely, thank you. >> caller: i saw you on a stock trading segment with carl during the event in july, and you mentioned two stocks, one was sub72. i put it on my radar and go up slowly for a week or two, i finally pulled the trigger at 74 and made some mad profits. reaching a new 52-week and some raising the price target to 20%. jim, how long longer can the honeymoon last. >> what's the stock? >> shark ninja, sorry! >> i mentioned execution. i feel very badly that i had to be tough about that. the opposite on shark ninja. these guys execute like you wouldn't believe. i wish i had bought that for the trust instead of next tracker. but i didn't. would have, should ave, could have. what a stock. that's the conclusion of the "lightning

haslinda: thank you so much, joey from hsbc. still to come budget chairman joins us to discuss the hard trading debut in what is next. keep it here with us, this is bloomberg. ♪ haslinda: massive debut for budget housing finance in india's biggest ipo. let's get to the details. massive performance. one star that has big names backing it in singapore. >> absolutely, spectacular debut . three big reasons why, one of india's oldest industrial groups filled out a services business, then there is demand for housing, it is growing. one of the youngest demographics around the world with a flood of money over the last several yes fueling demand for high and low quality paper. haslinda: great. let's bring in the chairman to discuss the company's outlook and stellar debut. great to have you with us. it was it a surprise? >> weir group, this ipo will do well and as they said this is a combination of performance across other companies. haslinda: it is a neat pile of cash that you're seeing. how soon will it be deployed? >> well, you know, s

there might be another bank -- i don't know what hsbc's call is, but most of them effectively have downgraded that china might miss the full forecast. more on that in a moment. now to the slower growth story we are hearing globally. on the b of a point, they did a cut on the global growth. a lot of that is china, but also the soft landing they still expect in the u.s. t

what's more, hsbc said they can only handle part of the products diverted. canada is not an option. montreal is experiencing its own strike. really the only option is to use air freight. again, that is expensive and something that a lot of small retailers won't be able to do. vonnie: exactly. dani, thank yoso much. we'll keep to keep everybody posted on this. the port strike must not just be a u.s. issue. it could have international implications. that and the upcoming elections have the world watching over the u.s. coastally over the next few weeks. i was able to speak with the prime minister of croatia about how he views current events in the u.s. and abroad. >> it is important for the americans to decide what they want in november by strengthening american democracy, because everybody looks up at what happens in the united states. and last time we felt that the united states democracy was weakened rather than strengthened. we expect a smooth transition of whatever the transition will be upon the decision of the american people. vonnie: domestically for you, you are in your third t

hsbc you saying when it comes to the survey in india it is suggesting economic activity or pmi slowedber to the slowest pace this year. a time to take money off the table. $5 trillion market facing challenges, stock prices keep climbing but there is some downside, analysts having a hot time in india's stock market. data analyzed by bloomberg shows as of tuesday the number of stops with a consensus by radiating totaled 61, lowest level for corporate earnings. skeptical of further gains in stocks that tried a nine-year rally. caroline ellison gets a two-year prison sentence for her rule in the collapse of ftx despite turning prosecution witness against sam bankman-fried. details next, keep it here with us. this is bloomberg. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenario

scarlet: ryan wang is an economist at hsbc. .versity of michigan consumer sentiment numbers due out tomorrow at 10:00 a.m. the following week we have retail sales. that is day 1 of the fed's policymaking meeting. boeing workers cooking -- boeing workers could strike. that is next. this is bloomberg. ♪ scarlet: this is "bloomberg markets." i am scarlet fu. let's head to ou stock of ther hour. we are focusing on boeing. if workers do not agree, a strike is expected to begin admit midnight in seattle. let's bring in bloomberg's sid phillips. what do we need to know about this? >> boeing on the union hashed out a deal last weekend and came up with proposals that would basically give workers a 25% pay hike over a four-year period and other benefits. the workers have been asking for more. this is the first full-scale negotiation that boeing has had since 2008 for a labor deal, this is a big moment for the union. the union has been saying this is the best deal they could get given that boeing is in a precarious situation. the management

goldman sachs, royal bank of canada needing to of bank comments, hsbc banking, those cosa fits with us? that's quite a list. we operated in close to 40 different countries around the world. brazil, harun panama, columbia, japan, taiwan, hong kong, obviously, throughout europe we're making millions per month. offshore accounts, not paying taxes. i was living a 3 weren't worried about anything, but in my particular instance, i had something to worry about. of all sorts of investors all over the world were very eager to put their money with them because he was generating very good returns . and that's what investors want. he turned out to be doing something else, which was he was misappropriating the investors money and the investors thought they were achieving these excellent returns. in reality, they were not philip baker and his partners were essentially making it up their life. the 2nd thing, and in some way the more damaging issue is that as they sought to recruit additional investors, new investors, which were essential because they needed to paper over the last the money that they'

scarlet: let's focus on today's market action and where things stand going forward with nicole at hsbc. thanks for joining us. if the s&p 500 closes higher, this will be the 42nd record close of 2024. all the groups are gaining this year. what has been the most underappreciated or surprising aspect of this broad advance? nicole: i think that what you are saying about the s&p rate -- reaching record highs are falling into place. the fed, cutting 50 basis points, front loading these rate cuts. gdp growth is looking pretty resilient. the labor market is looking ok. the consumer is looking ok and what companies are saying in terms of commentary in the second quarter was positive and you haven't seen analysts revising higher. on this kind of macro basis, everything is looking extremely strong. i would say that the one big push back that we get is evaluation where you pay the price for these equities and what you see is the s&p trading at a hefty premium to where it has traded historically, even looking at certain sectors like the mag seven where the s&p is trading at a premium. we think the

effectiveness or lack of it from the measures announced from china with the global chief strategist at hsbc asset management joe, good to see you thanks for being in the studio with us. i'd like to understand what are your feelings on the outlook for china, now that we've had these easing measures. they provided a significant boost yesterday, today, not so much are you on the camp it's bullish on chinese equities? >> i think in the short term it's a big boost to market sentiments and collective psychology around the china outlook. what we saw yesterday announced was a really bold and comprehensive set of measures, looking at three key areas around monetary policy as you mentioned, looking at the property sector, and also some developments around capital markets is around the idea that could be the stabilization fund that could be d deeveloped maybe the most interesting part of the announcement yesterday was the suggestion, the hint that we're going to see further easing as needed that came through quite clearly from the people's bank governor, and it was discussed a lot among analysts and t

goldman sachs, royal bank of canada needing to of bank comments, hsbc banking, those cosa fits with us? that's quite a list. we operated in close to 40 different countries around the world. brazil, harun panama, columbia, japan, taiwan, phone call. and obviously, throughout europe we're making millions per month. offshore accounts, not paying taxes. was living 3 weren't worried about anything, but in my particular instance, i had something to worry about. of all sorts of investors all over the world were very eager to put their money with them because he was generating very good returns . and that's what investors want. he turned out to be doing something else, which was he was misappropriating the investors money and the investors thought they were achieving these excellent returns. in reality, they were not philip baker and his partners were essentially making it up their life. the 2nd thing, and in some ways the more damaging issue is that as they sought to recruit additional investors, new investors, which were essential because they needed to paper over the last the money that the

that according to hsbc global research's global freight monitor the report.es, including walmart to target, the two big u.s. importers, receive their products from china at these ports before sending them to their local distribution centers. the two retail giants also share another distinction, they are two of the more than 245,000 businesses that use affirm for buy now, pay later services, so should consumers can do their christmas shopping extra early in case we see another year of supply chain disruption? i didn't want to have to say supply chain disruption ever again, but now here we are. joining us now, affirm cofounder and ceo max levchin. max, if we use history as a guide, this could be problematic. tell me right now how you see this. are you modeling for any problems when it comes to your business? because these are all your partners. if -- >> you know, we obviously don't love the idea of a port strike, so i'm very hopeful that it gets resolved. i think the contract expires at the end of this month, so there's a little bit of time, and i support both

coast ports will not cooperate with diverted shipments so it's not so much of a probability and also hsbcnly handle some 17% coming over. at the port of montreux there also dealing with this so in terms of alternatives there are not a lot right now. jonathan: plenty more from her throughout the day on bloomberg tv and radio. continuing the conversation, i want to stay on lisa's line of questioning. we saw some tremendous volume through west coast ports through the summer. how much preparation was done ahead of time for the potential of this going down. >> i think they also have the capacity to handle more freight. i think more sophisticated shippers have been ahead of this looming port strike which has been well telegraphed for quite some time. we could see from our perspective we cover a lot of transportation companies this could be a net benefit and providers out there. as this moves rates. they have been pretty depressed over the last two years and so this could be the final shock to the system that could move rates higher which would be a net positive for trucking companies like knigh

jonathan: hsbc, take a listen to this. thick in the disinflationary forecast in the coming quarters. this leaves short-term inflation expectations too low relative to economist forecasts. lisa: this is the risk in case you are feeling take up in gold. you start to hear it around the edges, the economy is as good as it looks right now, what is on the other side? jonathan: equities positive by .2%. nothing to see here. gold close to all-time highs. one hour away from the cash open. let's go to manus cranny. >> very bullish on u.s. equities. this is how we start the day on intel. i want to put this to you which is, one is a potential bid from qualcomm. by taking this asset apart, it is a sum of the parts friendly bid. $5 billion into this company from apollo. a company that they know well. they did an $11 billion deal just a few months ago. one is about taking the company apart. the other is a vote of confidence. we will see how it plays out. let's have a look at gm. bernstein have downgraded the stock this morning to market

jonathan: hsbc with this to say. high-frequency data have improved. we remain overweight equities. s&p and a fourth consecutive monthly advance on the s&p 500. on the nasdaq, negative 0.7%. some of the big gains have been out of the muscle of big tech. lisa: for two straight months. the interesting thing about max is his bullishness is idiosyncratic compared to some of the other notes saying the fed put could spark a rally in junk assets such as u.s. small caps in the coming weeks and months. stewart kaiser, that was a notable shift for him as well talking about downside risk, specially if bad news is bad news and we get the downside to rise. jonathan: mike wilson with the potential of a repeat of august 2 when we last spoke to him. something similar. bad news is bad news. lisa: which we have seen kind of bleed into markets and you see a precursor. you can see the underperformance coming. guess what, small caps, there is this fear being backed into markets maybe we have overestimated the chance of that soft landing and that might be the trade unwind. we will see. that is the argume