so much.nk you jodi schneider, we will hear more from her in the couple -- next couple of weeks. back to corporate news, and elon musk is now the world's fourth richest person, tesla shares up, boosting his net worth by almost $8 billion. just one day. joining us is dani burger with more on the stunning development. dani: it is really difficult to wrap your head around how much

let's get more from jodi schneider. disruptd this really the plans for the bytedance transaction? it really could either delay it or throw a wrench into the whole deal because the new areas that have been added to these tighter restrictions on artificial intelligence exports are the very technologies that uses to make tiktok this viral sensation. it would be required to seek the government sign off on a deal. a person familiar with the matter says they don't think it would stop it, but it could delay this deal. we are seeing several bids that have already been put in. we saw the bids from microsoft and oracle. they sent in rival bids. there also was another pitch on friday. andourse, president trump the trump administration once the sale done pretty quickly. that is something they said they would require if they were to ban tiktok in the u.s.. yousef: as we think about the implications of those rules going forward, is the risk that we move out of the risk to some of the software developers and more toward hardware and chip manufacturing? is that the real threat? yeah and it also, r

opinion editor for international affairs, jodi schneider. y pad terms of we double in six weeks what took us six months. it?s the speed, isn't jodi: it really is sobering that it took from january until six weeks ago to have 10 million and now in those six weeks we have reached 20 million. that is worldwide. but we are seeing rapid increases in the u.s. is of the deaths, which somewhat staggering. we have also seen cases in places like hong kong where i am, in australia, which has seemed to deal with the virus very well, now things like nursing home outbreaks, which have been much deadlier than earlier waves. even places that contained the virus can have another outbreak. places like india, where they never really got it under control, still sorting. the good news is there are vaccines being worked on. but in the u.s., they don't expect the fixing to be available the second half of 2021. marketshe key things seem to be focusing on is hard-hit states including california and texas have reported falling hospitalizations. thanks to bloomberg sen

joining us to discuss is jodi schneider. great to have you with us. how has tiktok responded? een the reaction in congress to the latest developments? jodi: there was a lot of confusion over the weekend whether it was still being negotiated or not. the president had come out late for thend said he voted idea of an outright ban of tiktok in the u.s. on national security grounds, and also lambasted the deal. microsoft has been looking at purchasing the app and being u.s.,o use the app in the as well as canada, new zealand, and australia. basically, it was confusing because the deal was still being negotiated. today, and microsoft said the closed door discussions with tiktok and president trump were continuing, and they helped to would bea plan that acceptable to all parties. at the same time, we heard from the secretary of state over the weekend, who said the president may go ahead not only and ban tiktok in the u.s., but could have other chinese software blocked in the u.s. it looks like these things are going out at the same time, but it looks like microsoft is negotiating agai

let's go to jodi schneider for the latest. the republican strategy ahead of the election, is there clarity on that? it will be obviously attacking the democrats on a number of fronts. they will try to portray joe biden as weak on china, using president trump's tough talk to say is this what you want, should we go back to this? and they will also try to paint democrats as very to the left, very socialist, which whether or not that is actually the case, the portrayal will be would you like this, our country changed in this fundamental way? at the same time today on the first day of the republican convention, they tried to paint a positive picture of president trump's widely criticized handling of the pandemic, saying he is helping to develop a vaccine, and the economy was good and could be good again. an interesting case to make given the wide criticism but that is the case they are making. they had some rising stars in the party like nikki haley, who was the yuan ambassador -- un ambassador and senator tim scott, the only lack

much,ne: thank you so jodi schneider, bloomberg senior international editor. the u.s.nced further restrictions on huawei, and yet -- aimed at -- the latest move in an increasingly tense relationship between the worlds two biggest economies. the founder and president spoke to us about why ongoing u.s. china tensions won't affect the quality. is an amazing company, and i think really, we only have -- we have zero things in our top 10 right now, in our hedge fund, we have a long only fund where amazon is in the bottom half of the top 10. you know, we have been able to outperform on the long side of our book, not being overly exposed to things. that said, i don't think it is a bad place to invest. i think your general equity investor, consumer, they could do a lot worse than having big exposure to faang stocks. these are some of the best-performing companies and businesses in the world. we are not afraid to have a little faang exposure, specifically on amazon. they have had the number one e-commerce business in the world , quite dominant in the u.s., in continental europe,

senior international editor jodi schneider joins us now. why is this arrest so significant? his age? his wealth? and what does it mean for other democracy activist? -- activists? jodi: he is well-known. significant that way. and also the way in which it was gotten. they arrested him and then they the offices of his flagship newspaper in remarkable fashion. something we haven't seen in hong kong. there were nearly 200 officers entering the offices there. they had obtained a court ordered search warrant. this is all very different under this national security law. fate of against. and there is also the significance to the pro-democracy movement. it is meant to send a chilling signal to them. the message that the bear is sleeping. intended to make a real statement the way it was done today. marching arog 72-year-old man out in handcuffs -- certainly, these pictures are sending the message. companyes in his dipping initially and then surging later in the hong kong session. they first went down. you would expect them to stay down. the thinking was that perhaps it was his support f

joining us is bloomberg senior international editor, jodi schneider.ave you on the program. we heard in that conversation about the impacts of canceling the trade talks, postponing the trade talks, however you want to see it, over the weekend. will this have any real effect or was this largely symbolic? he seems to be suggesting this was a tentative arrangement. to see it canceled, not such a big deal. really not at's surprise that this would happen. deal,of all, the trade the phase i trade deal that was signed earlier in the year, before the coronavirus outbreak took up so much of the attention of the world and also the rising tensions begin between the u.s. and china, that deal was a limited deal anyways. it was really a deal about buying and selling more products, particularly china buying more u.s. cultural products. so the check in talks really would have been to see if that was going forward. but given how much tensions there have been lately, that's not a surprise, but it does speak to the fact that now they're not even talking. two sides are th

we get more from jodi schneider.resident trump is now focusing, after tencent, on a bigger target. he signed an executive order prohibiting transactions related to wechat, owned by tencent, thank the u.s. must take action against the parent company to protect national security. this came right after he signed an order restricting tictoc. our senior international editor jodi schneider has the story. jodi, what are the significance and implication of this executive order targeting wecheck? : coming right after the executive order prohibiting u.s. businesses from doing business with tictoc or its chinese owner, it is fairly significant. because it basically says that president trump's declaring war on these chinese companies and does not want them to be in the u.s., and prohibiting transactions relating to the u.s.. it is a huge deal. it is very wide news in china. muchhis move very restricts whatever commerce you can do in the u.s., again coming right after that order prohibiting u.s. businesses from doing businesses w

we have our senior international editor jodi schneider.et us up to speed with the developments taking place in the last 12 hours or so. reporter: we have secretary of state pompeo saying the trump administration will announce measures shortly against not only tiktok but a broad array of chinese owned software and what he terms as a national security risk involved. so this puts the situation with torosoft, which was planning buy or was thinking about acquiring the app from bytedance. few hours, we heard from the microsoft chief executive that they spoke with president trump to salvage their effort to buy tiktok's operations in the u.s. and there may be an announcement in a matter of weeks. they seem to have some support from members of congress including key republicans who would weigh in on this so we will see what happens but it looks like now even ads might be barred in the u.s. while talks are going on between microsoft and bytedance. rishaad: the question here, what is the response from tiktok? is it the same answer to not sharing data

joining us now is our bloomberg international editor, jodi schneider, with analysis. most important speech? we heard there are number of democratic voices speaking at the convention. what was the most important voice, do you think? were two thatere were very important. one was bernie sanders that we heard, because democrats would like to unify the party, take that left wing that rally for bernie sanders and get them in the house, get them to vote for joe biden in november, and bernie sanders is very important for doing that. did not rally, he behind hillary clinton, and it cost her. it cost the democrats. and this time, they want to make sure that does not happen, and bernie sanders stepped up. he said he disagreed with president -- vice president biden on many areas, but he does think he is the right person for the moment, and the speech that mattered as much if not more is michelle obama, the former first lady, who came out and not only supported joe biden that made the case of why it is so important to elect him, basically criticizing donald trump, saying donald tr

jodi schneider, bloomberg senior international editor joins us. ng points? jodi: it is really about the money as it always is in these things. the white house has offered $400 a week in supplemental employment benefits, which had been $600. this is what is expiring. that would be through december 14, which seems an ok date for the democrats, but they want $600 a week for everybody getting unemployment benefits. in some cases, people are getting more money in unemployment than what they would be earning, but democrats are insisting on that amount. the white house but $200 billion in state and local aid, $100 billion in education funding, but the democrats want one julian dollars. -- $1 trillion. the white house is looking at expiring the moratorium on evictions until december. it is about the money, and how much will be available. we have to leave it there. jodi schneider, bloomberg's senior international editor. that is it for the european open. up next is "surveillance." this is bloomberg live from london. ♪ francine: the boe holds steady. we will

for more, jodi schneider in hong kong joins us. first off, walk us through the executive orders. ay, what did they do? jodi: basically, they threaten penalties on any u.s. resident or company that would conduct transactions with tiktok, wechat , or their owners after these orders take effect in 45 days. the measure against wechat blocks all transactions in the app, but it does not amount to a wider ban on tencent, according to u.s. officials. the order against tiktok blocks butowners and subsidiaries, that is a bit broader. both of these come with president trump's push with the sale of tiktok to an american company and comes the day after secretary of state mike pompeo urged businesses to remove these apps from their stores. not entirely a surprise they did this, but banning but i -- but banning by executor border is an escalation. annmarie: what does this mean for tiktok? how does this affect their talks with microsoft? jodi: it seems president trump is saying, if you want to do this deal, you better do this soon because these executive orders take effect 45 days from now. they

we discuss with jodi schneider.implications about this trade deal, given the rising tensions, especially over tik tok? >> this is the real question we have been asking, is this trade deal really still on? we have seen a rising tensions over everything from the muslims to hong kong, huawei, and now the tik tok issue. there is apparently going to be some meeting, and they will be discussing the deal. it is hard to see how you can negotiate trade among other tensions. and right now, president trump's threat to ban tik tok and saying microsoft or another buyer has six weeks to make a deal. how kind of hard to see pages will get on the same on both sides of trade. but apparently they will meet and work something out. are we hearing from china about the possible tik tok deal, given some bold statements and demands the president has made? microsoft apparently is trying to move forward. it's on a six week deadline the president has apparently set out so they can have out deals to buy the operations of tik tok. it is a close

let's go to jodi schneider.evelopment, given we expected these negotiations to take place last week? we were waiting for a confirmation they had happened. isi do not think it significant in terms of the phase one deal or future potential deal. it's just a status check phone call. it was just going to be a status check, not real negotiations moving forward. so markets like it in the short run like today because it shows they are talking to each other but in terms of actual negotiations and movement toward coming together on trade, i think this was symbolic. it's also interesting, the timing. it comes as the republican national convention starting and trump is going to take a tough line on china during it. we have seen that in statements he has made, saying he thinks joe biden is going to give in on china, and he won't. be him trying to show the administration still wants to talk to china, even callingump is coronavirus the china virus and things like that. even as they try to contain the damage to the phase one t

matt: joining us on the phone is our senior international editor out of hong kong, jodi schneider. he republican strategy ahead of this election? jodi: yes, it is basically to have a portrait of fear of what a president biden would do to america, that it would be a very pessimistic, dark situation, that particularly a warning of rioters besieging the nation, -- highers, social taxes, social upheaval. at the same time, trying to appeal to black and latino voters and also to say that the trump administration had a great economy going. we will bring that back, even despite what has happened with the coronavirus pandemic, and also saying, trying to paint a portrait of success with the virus even though he has been widely criticized, the president, for his response. at somes, i was looking interesting polling of republican voters, self-declared, republican voters, and they seem to be convinced of his strong performance on the economy, which is interesting. the phase one trade deal between china and the u.s., we thought we were going to get a call on that a week or so ago. it was delayed,

jodi schneider tracking this story. failing miserably i have to say. how do the rules affect the sale? >> it could very much affected. used in tiktokis and requires government approval for any deal. people familiar with the matter his book to bloomberg say the spoke to bloomberg. president trump at first he gave a deadline. we have not heard a lot about that deadline lately. six weeks, which would take us up to next week, or mid september. microsoft and oracle have bytedancebids to while another asset management firm is said to have made a pitch on friday. fors right in the middle tiktok u.s. operations. annmarie: there is a great opinion piece saying this is like someone trying to buy kfc but told they are not allowed to saucehe colonel's secret of herbs and spices. what implications could these rules have going forward? >> that is an interesting analogy. basically, how this is going to work, the chinese government is going to require such approval, it will make it very hard to sell these kinds of companies. we can expect more heated exchanges between

let's get the latest from jodi schneider. let's start off with india. what are we seeing? ry worrisome. it crossed to the 3 million mark in terms of virus infection. the outbreak is accelerating through the second most populous country. we had seen it focused in big cities like mumbai and new delhi. now, we are seeing these cases go throughout the country, which has been very concerning. infections rose by more than 69,000. fastest growing epidemic in the world with 65,000 infections being reported each day. higher than the u.s. and brazil, which are the two most affected countries in the world. this poses a challenge to prime minister modi. moving from the big cities to private villages with a medical infrastructure is often much weaker. -- [indiscernible] just how bad it is. shery: south korea seems to have rained in their outbreak in march. i guess the church gatherings have not helped. jodie: south korea is an example of a country that seemingly got things under control and has often be used as an example as to how to handle testing and contact tracing shared they have

for more on this, we are joined by our bloomberg senior editor, jodi schneider.much for talking to us about this. so what are the implications of president trump saying he has called off the talks and we were supposed to get these regular six-month reviews, weren't we? i: yes, and it is symbolic, but not a surprise with the rising tensions daily between the u.s. and china, but the talks were one part of normalcy, that there was still one trade agreement. this phase one trade deal came into effect and was negotiated before the coronavirus pandemic, but it really was the last kind of bright spot in the relationship, as charles freeman, the senior vice president for the chamber of commerce, taught us earlier. and it really was a way to at least keep some conversation going, and they were supposed to have these check ins every six months, but now they are not having these check ins, there is very little normal communication between diplomats in the u.s. and china, and that could be an implication that could have some far-reaching effect on the relationship as we go f

let's bring in jodi schneider to talk more about this decision. it seems this was a no surprise pick from joe biden. what does it tell us about the democratic party? >> first of all, joe biden said he would pick a woman, so that's not a surprise for his vice presidential running mate. it was thought he would pick someone of color, given the attention on race in the u.s.. harris willenator be the first black woman and the first asian-american on the major party presidential ticket. she is also known as a tough campaigner. she is a junior senator from california. she won the statewide election in california. three times. so she has a lot of credentials that joe biden and the democrats think will help in november. she does seem to think that implications for foreign policy, relationship with china, what are we anticipating? >> she has been on both sides of the china issue. on one hand, she has been tough. she didn't do a lot with china when she was district attorney in san francisco, attorney general of california. that part of her career did not tou

all right, jodi schneider there with us. you a click -- quick check of the latest business headlines. microsoft remains keen on buying tiktok's american operations and could make a bid for its british arm as well. microsoft could expand beyond the interests of canada and new zealand, citing an unidentified bank source. it is not clear if bite gets would sell the u.k. unit -- bytedance would sell the u.k. unit. hurdles asting legal people try to derail plans. ubs, deutsche bank and other creditors holding half $1 billion of urgent bonds are supporting a plan to reject baincapital and revive the struggling airline themselves papers in australia collapsed in april owing billions of dollars. there was a fast tracked sale to baincapital. $2 million amid strong demand with fidelity among the biggest participants. the company was in talks to raise $1 billion at a price of $270 a share which would have valued spacex at $440 billion. this would be their largest so far and comes after a successful iss mission. coming up next, japan se

the seniorus now is international editor, jodi schneider.laims the united states should get a percentage of that sale but it is not clear under what authority he is making this case on. be prettyould unprecedented based on recent history for the government to collect a part of any transaction involving companies. the government does not hold a stake in this company. he said the money would come --m china it is unclear. the president said it should because the government has helped in some way to broker the deal. theaid he could ban company's action with an executive action. it appeared instead that he got involved in talking to microsoft about its potential purchase of the app. know aboute do we how this potential deal could take place? we know there are many hurdles to this. microsoft said it still aims to complete the deal for tiktok operations in the u.s. as well as in australia and new zealand. that thea deadline white house has insisted upon, september 15. this could prove very difficult to do. the details regarding the price have not i

let's get to our senior international editor, jodi schneider. an network is not really just about dropping tiktok, is it? jodi: no. mike pompeo, the secretary of state, is urging this effort ,gainst chinese technology chinese applications from app stores. you just heard him say what he calls his undressed the chinese app, like tiktok and we chat those national security threats. he is calling for companies to refuse to make their apps available for phones made by huawei, and friending the use of chinese cloud providers such as tencent, alibaba with sensitive american data. he is really trying to make a broad case against chinese that it iss, saying a much broader, much more insidious issue. he said he does not want companies to be complicit in huawei's human rights abuses. this is part of the broadside against china and chinese companies, but it's cold war kind of rhetoric. is this largely rhetorical from pompeo when it comes to this clean network, or is he specificn place policies that will block some of these companies from interacting? : the cl

let's go to jodi schneider.at how the new rules could potentially impact tiktok sale. >> it could potentially delay it. we have been talking about this trump in sale since march said first he wanted to basically ban the use of tiktok in the u.s., and then he said, the sale needs to occur within six weeks. we are at the end of that and microsoft and oracle have to buy theal bids tiktok business in the u.s. but asset management is said to have made a pitch this past friday to buy the operations. while the bids are pending we bytedanceews that will be required to get approval to sell the u.s. operations because of the export of artificial intelligence technology. mean forat does this the ongoing negotiations in order to make a deal with tiktok? any other implications here? >> yes. the restrictions, they ,pparently cover technology bytedance and tiktok, it would require government approval for the deal and you could see this happening in the future as well. if there are other situations continue tod trump have stron

. >> jodi schneider there. our senior international editor, of course.iden and running mate kamala harris will accept their nominations at the democratic national convention next week. they vowed to lead the u.s. out of the coronavirus crisis, while attacking president trump. one of the earliest and largest --ancial bakers -- bankers what a biden and harris administration would look like. >> the vice president said he wanted somebody who was ready day one and that is who he has. she has great leadership qualities. sheron the biggest attorney general's office in the country in california. she has great personal qualities , great judgment. i think she is really good at taking a lot of information, synthesizing it, and coming up with a perspective. she directs. is --think she [indiscernible] she is obviously very focused on working americans. she is very focused on helping those most in need. almost half of america has a family member affected by this. she is very focused on what the 21st century should look like when it comes to things like clean energy. i

[indiscernible] internationalior editor, jodi schneider.a at the top of global hygiene -- malaysia at the top of the market. riley top glove is the world largest rubber glove manufacturer and its managing director at joins us exclusively. in a moment, president trumps ban on chat is taking a call on its parent company tencent and we have details next. this is bloomberg. ♪ haidi: a quick check of the latest is this flash headlines. american express in advance talk to by the online mall business letter cabbage back by softbank -- small business letter. valued at $850 million. bbage deal is seen as opening the door wider to mom-and-pop stores. nikola surged after winning in order for 2500 chocks from republican -- republic services -- in order for 2500 talks from waste management company republic services. republican -- republic has the option to increase his truck order to 5000 vehicles. mcdonald's is suing its former ceo easterbrook who is accused of having affairs with muslim ploys and trying to cover them up and arranging for -- having aff

jodi schneider in hong kong, thanks very much. in the spotlight. ♪ matt: welcome back to the european open. we are 30 minutes into the session right now. closed, but continental european indexes are up. not the kind of gains we saw at the beginning of the session, but we are still up 0.4% on the broader stoxx europe 600. if you want to take a look at the individual industry groups that are helping to add to that gain or hold that gain back a little bit, you can take a look at the group ranked returns stream, grr . oil and gas are up, utilities are up, chemicals are gaining, as well as automakers and auto parts makers, which is the sector we are going to focus on in just a moment. i want to take a look at the bloomberg first word news these are today's top stories from the bloomberg terminal. this week saw the first death among racial inequality protests in america. the man was shot to death in portland, oregon, a supporter of the right wing group of counterprotesters. the president tweeted his condolences. he plans to visit ke

much.thanks very jodi schneider coming to us out of hong kong. a higher move or a lower move? we will put that question to kristine aquino. this is bloomberg. ♪ ♪ annmarie: welcome back to "bloomberg markets: european open." today's3 minutes into trading session and we are off the highs of the date. the ftse 100 down, as well as the cac. joining us now is kristine aquino. i want to start out with tiktok. we just spoke about the political implications. we are not seeing much reaction in the market. what do you make of these brewing tensions between beijing and washington? >> it is very interesting that we have not seen any spillover into the tech sector or much of the other parts of the market. forink that speaks to how investors, this is still a very nebulous concept, the concept of u.s. banning chinese companies or may be trying to circumvent it and find a way to get some revenue income from them. it is all very hard for markets to comprehend at the moment. and that is why i think they are shrugging it off and dismissing it as a theoretical risk

shery: jodi schneider, our senior international editor.ensions, with cyber readiness, a security expert who will help draft the deflation to create the department of homeland security. she joins us. this is bloomberg. ♪ omberg. ♪ shery: hong kong will have to wait another year to vote for the legislative council. they have delay the election citing health and public safety concerns as virus cases rise. joining us to discuss the implications is eliza lee, professor at hong kong university. great to have it with us. first of all, can they even do this, because it was my understanding under the basic law, and the -- legislators lose the legal right to hold office past september? >> completely correct. according to the basic law, the term of the legislature is four years. .his four-year term has ended then another thing about the basic law, the election, the legislature in hong kong has to be turned by elections. -- returned by elections. with an election has to be hold before you can have a new legislature. the post running -- the postponing

haidi: that was senior international editor jodi schneider in hong kong.a" ahead. this is bloomberg. ♪ breaking news out of south korea -- we are getting the bank of korea policy decision right now. they have left he interest rates ofhanged at a record low .5%. 22 economists surveyed by bloomberg forecast no change in the be ok rate, so this is just as expected. of course, we have seen the governor in the past emphasized that if they needed to do anything, they would actually use non-rate tools if further easing as needed. we have seen the economy recover from the coronavirus pandemic, but at the same time, we have a resurgence of the virus, so this is, of course, a downside risk for the economy. we are expecting an update for the outlook, and perhaps we will expect a downgrade of their forecast. they have said they anticipated a larger decline in 2020 gdp than their previous forecast for that slowergiven recovery when it comes to consumption. let's get more on the bank of korea's policy decision with bloomberg's top rank economist for south korean rates.