jonathan ferro and tom keene in london and vonnie quinn in new york. s bloomberg "surveillance." ♪ jonathan: this is bloomberg "surveillance." i am jonathan ferro with tom keene in london. is it morning or night? tom: when you are working bloomberg "surveillance," it is always the morning. people are staggering home when i am going in. quinn withonnie your business flash. vonnie: expecting a record-breaking takeover today. dell will announce it is acquiring davis storage company emc. dell is in talks to raise at least $40 billion to play for the deal. emc is a leader in digital storage. dell has been increasing its server business. hundreds of southwest airline flights delayed by a technology glitch. the problem forced the airline to manually process travelers. southwest urged pastors to get the airport 2 hours in advance. the opening of "pan" brought in about $50 million over the weekend at north american theaters. it cost $.25 billion to make and market. that is your latest business flash. telegraph,"of "the the duchess of cambridge. they took this ph

i am jonathan ferro.tes into your trading day. on in the session, stoxx 600 down 0.5%. ftse 100 is up 0.3 first sign. on the downside is bp. what a month it has been. stoxx 600 heading for the best month since july 2009. the miners and a bit energy bounceback. switch of the board quickly. the fx market. euro buys 1.10. euro gdp third quarter, the estimate is 0.6% per dollar-again, 1.25. a flatter yen. ofe of the market's moves this morning. up to speed on the top stock stories with caroline hyde for caroline: dramatic news and the united kingdom. armed forces and a profit warning. stockiolation down 39% -- down 39%. related to one project. a 40 millimeter ammunition project. bethey say revenue will delayed. having to go to the lenders to renegotiate some of the debt. make sure they do not actually have to halt as of the revenue is later. a profit warning and raising a new capital to buy them shares. -- buy shares. where looking at -- we are down almost 5%, the biggest chemical maker in the world. they wan

jonathan ferro in london. attention, brazil and japan. roubini was right. everybody laughed when professor 5, as youid qe 3, 4, know from your conversation with the bank of england yesterday, more qe seems to be the order at the end of the year. jonathan: more from tom in a moment. vonnie quinn standing by with news. u.s. and russia have signed a deal to avoid aerial accidents over syria. aircraftment regulates and drone flights. the us-led coalition has been bombing targets in syria for over a year. russia launched airstrikes three weeks ago. paul ryan says he's willing to run for speaker of the house but conservative republicans are balking at some of his demands. ryan, chairman of the ways and means committee, spoke to reporters. everis is not a job i have wanted. i'm at the job i have always wanted. this is a dire moment not just for congress but for our country. i think our country is in need of leadership. vonnie: one of ryan's demands, he wants aouchy -- procedural change to the procedure used to remove

i am tom keene with jonathan ferro in london. marter on the decline -- not take a line, a collapse with crude oil. jonathan: it is about two dollars a barrel. -- it is about two dollars. natural gas is back in the 1997.ty of 2000 -- of right now, let's go to 2015 with vonnie quinn. vonnie: the white house and congress strike a deal that could avert a debt crisis next week. to them through march 17. it does raise a spending cap but lowers medicare funding. john mainer will need democratic support to pass the bill. the powerful asian earthquake death toll is more than 300. saveers are trying to people in afghanistan and pakistan. one in to 40 miles down is where the earthquake took place. destroyed inenly an airstrike. a green beret officer told troops the taliban and held the hospital. doctors without borders says it told the u.s. that there were no insurgents in the clinic. a close encounter for the u.s. navy in the china sea. china criticized a recent move and the u.s. doesn't recognize the mandate islands as a territory. donald

i am jonathan ferro in london with tom keene in new york.t was a non-decision, but a hawkish hold? tom: deutsche bank said this was big. jon ferro will speak with alberto gallo and then john andng and richard claro -- richard clret -- arida. discussions include the u.s. and european allies, russia, and iran. russia backs syria's president, that recognizes he is a roadblock to solutions. trip toerkel began her china. a number of business deals are expected to be announced. the chinese will buy 130 airbus plans for $17 billion. a dramatic rescue saved 240 migrants. the greek coast guard pulled them from the sea. three refugees died, including 2 boatren when their capsized leaving turkey. more than half a million refugees have reached a greece this year. the number killed trying is unknown. republican presidential candidates try to break out of a night'smarket last debate in colorado. it focused on dollars and cents. marco rubio defended himself after a florida newspaper called him to resign for not showing up to recent senate votes. >> in 2004

i'm jonathan ferro, with tom keene in new york.morning to vonnie quinn with your first word news. vonnie: another deadly attack reported in syria. opposition activists say at least 40 people were killed when government missiles hit in a suburb. more than one dozen countries are meeting to get -- meeting today in vienna. secretary of state john kerry is taking part. for the first time, so are saudi arabia and iran. a consultant working to improve u.s.-iranian relations has been arrested. is awaitingt in sentences -- awaiting sentencing. approval onve final the spending and debt deals. it boosts spending and ends turmoil among house republicans per japan's interbank says there is no need to add stimulus to the economy. at the same time, the bank has postponed its timeframe for weakening 2% inflation. a champion is taking his final bow tomorrow. the triple crown winner will retire from racing but not from ernie. he could bring in -- from earning. those are the top headlines. tom: i do not know much about the breeders' cup. .aded papad

jonathan ferro is here with a little bit more. our interview is what? jonathan: ian mccafferity.let's talk about the federal reserve. there is no shock really that williams, you know, is going on side with his masters. jonathan: the fundamental debate of the federal reserve now is going to the end of the year given that market pricing is nowhere to be seen. will they go against the market and surprise the market? a lot of people doubt that. when you have a 30% chance of a move in december, they need to reshape expectations soon, quick and do it sharp. that is not happening now. manus: there are only two more .etors key data when i say key data, i mean, excuse me, you have two more you have november and december payrolls. many will say there are idiosyncrasies in there. here is no inflation in there. jonathan: the same argument in u.k. you have to look at a similar set of data for an inflation rate that are very low. this man is already voting for a rate hike. the conversation i'm going to have with him is why and how close is that becoming? manus: be l they go if the fed don't go

i am jonathan ferro in london. tom keene in your. is it the non-decision.s that how it should look at it? tom: that is what i am hearing from my colleague. mike will be in washington at 2:00 p.m.. everybody looking for to december 16. some of the challenges. you see it in the red headline. the norwegian sovereign wealth fund. the -4% return showing the challenges of working across assets. jonathan: it is remarkably difficult for the norwegian sovereign wealth fund. we will be talking about the carpet number of the bit later. for now, let's get the bloomberg -- >> volkswagen is feeling the pain. vw posted a 3.9 billion loss in their third-quarter. its first loss in 15 years. -- german automaker has had has said expectations will be lower than they were a year ago. it is cost vw $7.4 billion which is more than the company originally set aside. barclays has gone to the u.s. for its next ceo. jes staley will take over. at one time, he was considered a likely successor. three much ago, barclays fired its chief executive. chairman wanted to cut cost and double da

i'm jonathan ferro in london ith tom keene in new york.g to do the new ook in our next section. we have touched on it through the hour. no one but no one forecast the collapse to have soviet system, socialism is a doctrine of optimism. socialism's eclipse is the end of hope. it really alludes to our emotional politics in the middle east now. we all have a hope for a strategy on syria. whether it is henry kissinger or president jimmy carter. there is a search for a strategy, a new strategy on the middle east. what will you advocate for prime minister cameron? >> well, i have been saying for sometime that the problem of syria and the problem of iran, iraq, the problem of israel, palestine are interconnected problems, all created by the collapse of the empire 100 years ago. the british and the french drew the boundaries in the sand. all of that is unraveling now. what we need is an overall conference. not just syria. there is a syria problem. there is an israel/palestine problem. it is not going tosoever it. -- to solve it. people don't even

i'm jonathan ferro. volkswagen's u.s.ng all the vehicles involved in the omissions of scandal may take years. testifying before congress, he said the company did not make a corporate decision to cheat the system, insisting it was done by just a few engineers in germany. hans nichols is in berlin with more. hans, a lot of sorrys, and apologies, but that is an important distinction he is trying to make. hans: they are trying to determine throughout the rest of the company who knew and who was in charge -- they just announced this morning that they will do an investigation on to whether or not the software in question was installed and is illegal in german cars as well. up to this point we have only known that 8 million vehicles are affected. yesterday what was clear is that there is not going to be an easy fix for a large percentage of the 480,000 vehicles in the state that have these devices installed. they will require actual hardware and engineering components. here's how michael ward put it. >> you mentioned that roughl

manus: jonathan ferro joins us now.d fascinating federal reserve are worried about what happens on a global basis. our numbers in the united kingdom -- jonathan: the ecb is worried about it on a global basis. he's not alone. we did a poll this morning that said the overwhelming majority of economists think the u.k. will be able to withstand any decline in growth abroad. that's one thing. where he is alone is voting to hike interest rates and getting anyone to vote with him. a lot of people think he can will continue to be the lone dissenter. what is interesting is not just the divide between him and the rest, but the divide on whether the market is pricing in the rate hike. mark carney talking about coming into sharper relief for the year. the market looking at the start of 2017. someone is wrong. manus: there's always a bit of a duplication in markets. i remember you and i had a one house had a huge call on euro-sterling. it was bnp paribas. they were gearing up for a stronger level of dissent. that has dissipated. to

i am jonathan ferro in london. tom keene in your.

i am jonathan ferro. looking -- shares in frankfurt.ng after the utility companies have enough funds to pay for the decommissioning of nuclear plants. national correspondent hans nichols joins us. breakdown the details. hans: basically what we had were stress tests for energy companies. it is in germany decommissioning all of the powerplants, nuclear power plants by 2022. there's been back and forth because 38 billion and five utility companies set aside and provisions for the process. report out in september that suggested that would not be enough. what we have today is a clean bill of health from the economy mr. -- economy minister a he is the vice-chairman and he sent an e-mail out saying there is going to be enough money and the provisions are adequate. and some of the worst-case scenarios if somebody -- that outside consultancy group were warning are unlikely to happen. between 55 billion and 77 billion pounds set aside for the five companies including one dutch one that will be enough to see energy stocks trade higher. do not kidd

i am jonathan ferro. let's talk about an error.tsche bank for exchange unit sent $6 billion to a u.s. hedge fund client back in june. before recovering the money a according to a person briefed on the matter. hans nichols is in berlin. the city of london trying to figure out how on our event happened. how did it happen? running through it. hans: a junior trader on the foreign exchange debt dealing with a hedge fund client and instead annexing out, they grossed out for after a big night a drinking, i pay for all of your drinks not counting all said and what i paid, a much bigger bill heading your way. the reporter yesterday and bloomberg confirmed. take a look at the receipts. a sharp dip down and everybody realized it was an error. you see them pick back up. it is the reported to the relevant authorities in the u.k. and here on the continent as well to the u.s. federal reserve. what it does is raise questions about deutsche bank. it is so of reasons concerning. a company in transition. we saw john crane on sunday at enough a new le

jonathan ferro has more.change to monetary policy this time but there was a strong suggestion the cb was about to make another move. with eurozone growth subdued, the inflation rate stuck near downside risk growing, coming into the october meeting, there was only question on the lips of investors. will the ecb do morea? for anyone looking for a hint, president draghi didn't disappoint. growth and inflation had increased. we follow that by saying the governing council will re-examine the degree of stimulus needed at the next meeting in december when the central bank releases new economic forecast. three options remain. an extension of the program be on september 2016 or expanding the monthly size of asset purchases. there also remains the possibility of cutting the deposit rate further into negative territory. wasption draghi confirms discussed. for now, for many economists it is not a matter of if but a matter of when. i'm jonathan ferro for bloomberg television in the city of london. angie: global buyout --

i'm jonathan ferro live from london. crude reality.hell posted a 70% decline in third quarter profit as crude price slumped missing analyst estimates. shares down this morning about 2%. for more, jason, an analyst joins me now from the jeffries trading floor. great to have you with us this morning. first of all, on the top line, this is a terrible number for shell. when you look at the number, is it another story for you, jason? jason: it includes about a billion dollars of charges related to foreign exchange movements in brazil and australia. if i had those back, a 2.8 billion number would have beat the consensus by 7%. we didn't have those foreign exchange losses in our numbers. manus: -- jonathan: is there anything left lurking around the corner for shell as far as those kind of moves are concerned? son: they also took an over $3 billion charge. geerting a kitchen sink quarter in relation to the merger. shell moving away from the arctic and moving away from oil being they have much better places to invest that will lower down the co

anna: jonathan ferro is here. what else did he say?is not alone, thinking the risks are not having an effect. we have a bloomberg poll that said 80% of respondents agreed. voting for a rate hike me here and now. i noticed the seasonal effects to his voting. -- 2015, votes for a hike. i asked him why, the wait and see policy. much act toally say me wants to get moving. he wants to go with the right riskget moving, and do not a lane behind the curve which he thinks we are risking current. >> the market does not have the first u.k. rate hike. can you explain it? jonathan: you know how hard i asked him? the division between the mpc, the bank of england, and market pricing. he would not give me anything. at the end of the day, there is a massive difference between coming into sharp relief at the end of the year, and the first height being pushed at 2017. there are just associated with it. the fed,rsation with it is not priced in. anna: it is a funny phrase read what else is coming up on "on the move? you have conversations about the u.k.. j

jonathan ferro is here.tch hans nichols doing his jokes which seemed to be proliferating at the moment. mine was always a vodka. w in a vodka -- the v and w in a vodka. every body with experience in german has the story. m&a you do not speak german. jonathan: i do not. the debt story with all of the m&a going on is interesting. sab miller, a lot of debt that has to be rates. when you decide to buy a house, if you can get the rate, that the push you over the line. you want if a lot of the dealmaking is frontloaded ahead of the federal reserve. knowsussion for a man who about fixed income, stephen major. a major, major call of 1.5% on the 10 year next year. that is the topic of a big discussion after the break. anna: jonathan ferro with "on his own move." -- "on the move." ♪ jonathan: good morning and welcome to "on the move." i am jonathan ferro. moments away from the start of european trading. let's get straight to your morning brief. and megadeal. sab miller for 68 billion pounds. a record deal. rate, just

i'm jonathan ferro with manus cranny.cturing sector shows signs that government stimulus is working. numbers climbed slightly. five central bank interest rate cuts since last september, a new rise of infrastructure, seems that the economy is gathering steam. confidence is falling in japan. the latest survey from the central bank shows the index for large manufacturers fell to 12 in september from 15 in june. the economy may have contracted in the quarter that has just ended, which would tip the nation back into recession. twitter's share price has spiked. jack dorsey may stay on as ceo. he may make his position permanent after stepping in on an interim basis some three months ago. he will continue to head the mobile payments company, square. jonathan: thank you very much. if you are struggling to keep up with the market moves this week, you are not alone. hopefully, mark barton can keep us in tune. mark: china is closed for a week. china is taking center stage for a week, it doesn't matter. there may be a stabilizing , de

jonathan ferro. ratey more on the fed hike.. 24 hoursou haven't for for 24it -- have it hours, how much money will you make? anna: i'm sure somebody did the math. guy: when we looked at, we were negative. we have climbed a little bit. a flat open. at a bank look at the swiss drugmaker. -- anna: look at the swiss drugmaker. making the news. ♪ jonathan: good morning and welcome to "on the move." i am jonathan ferro. moments from the start to european trading. the golden era, chinese president starts is weeklong visit of the u.k. fat finger, deutsche bank is said to her mistakenly transferred $6 billion to a u.s. hedge fund. the money was recovered a day later. team 2015, the president of the san francisco fed weighs in on the rate debate. the exclusive interview with john williams. ahead of the open, 20 seconds away. futures are pretty much dead flat. as our dax futures. it will be much more exciting with that. see if itc: let's will be exciting. three days of gains for european stocks pushing europe's equity benchmark to the hig

i am jonathan ferro right here in the city of london. here are the markets. read on the screen.100, gain. down .3%. the base loses today, glencore down 5%. the dax off by .3%. a stronger euro and a much stronger aussie dollar. a very neutral policy statement this morning. let's get you top stock stories with caroline hyde. caroline: the kickoff on the west -- on the worst quarter. btg down. 14%. an update that the sales are disappointing. it is dragging the stocks lower. glencore the second worst performer down 5%. a bit of a turning point. the shares falling for the first time in three days. 21% surge yesterday. perhaps a little bit of money coming off the table. certainly, hong kong continued to rise higher. four days of rises. ouygues up this morning. they are uplifting their margin growth. sales bygrowing in 10% 2017. this asset they refused to sell for $11 billion as they continue on their trajectory it back to you. -- trajectory. back to you. jonathan: yesterday we saw a drop in the pmi numbers. let's go to berlin. hans, talk to me about the numbers. you have people who sa

jonathan ferro is here. what will he be watching this morning? he fallout of the bank of japan as it does nothing and keeps the stimulus unchanged. i think an important signal this morning was the inflation forecast, pushing that back but sitting tight on policy. and will remain patient hold off doing more. actually they will wait and see when inflation gets back to targets. what does that mean for the market? we will do that. china drops its one child policy. we will discuss the market up october. wrap it is been a monster month. has been a great month, what is interesting about the people seem to be dollar because 50 the chinese milk trade front and center. it is not all black and white. only you can link chinese one child policy with a rugby, well done. i did not even see that one coming. keep an eye on some names as we start, airbus is one of them. see oney day, we will monday. ♪ jonathan: good morning and welcome to "on the move." moments away from the start of european trading. the boj sticks to its view that current policy can't boost price

i am jonathan ferro, live of the city of london.essage yesterday from the slowdown in emerging markets. commodity prices taking its toll here it international monetary ind -- 3.1% from 3.3% back july. imf painting a very mixed picture. >> we see pickup in the u.s. and the euro area. japan had a very strong q1. it is looking wobbly. economies,advanced there is also heterogeneity. if of the advanced economies are commodity exporters. australiaa, norway, are facing headwinds. jonathan: the commodity producers, feeling the pain. is budgetf norway, it day. the country could stop making its first been -- it's big withdrawals as soon as next year . the country sees 2015 oil investment falling. ryan: and 40 minutes, the norwegian finance minister is going to attract his countries parliament. he is going to reveal his parties proposal for next year. we've got our hands on it. i can give you the headline. norway is going to raise the cookie jar if this government gets what it wants. it is suggesting that it tapped into its country's sovereign

i am jonathan ferro appeared to japan now here to out of asia.'s september export grew at thisin more than a year. 70 stocks -- japanese stocks have grown. jodie snyder is weighing the good news, bad news good news dynamic. jodie, welcome to the program. ands start with the numbers try to lift the lid on this export trend. it a geographic problem? something happening outside of japan? >> the biggest factor is china. china slowdown has had a big effect on japan. this is one of the first signals the chinaing of how slowdown is going to affect other parts of asia. 3.5%nly were exports down, in september, that we saw exports down to it needs a, -- to indonesia, india, all of that is the pitch of china. china really seven demand. -- china really sapping demand. to europe, more than 5%. that cannot make up for the picture in asia. jonathan: looking at the import data, not pretty. imports plunging. i wonder what it means for the boj, giving a fifth of japanese exports are going to china. i look at the data, october 30, the next boj meeting. the speculat

. ♪ jonathan: welcome back, im jonathan ferro. what a week it has been in the markets.p it up with some charts that matter to you. .n japan, a lot of data industrial production figures , raisinged estimates concerns that japan may have fallen into its second recession since the prime minister to government. meanwhile, the year for investors to forget -- we close the books on a brutal third quarter. withs been a tough run losses across all main asset classes except bonds so far this year. and what a week for glencore -- on monday, the commodity charts suddenly and almost inexplicably longed 30%, the biggest daily drop ever. the next day it's like to the most on record. the stock had albeit briefly fully recovered on the week. manus cranny spoke exclusively and provocatively asked what advice he would give to glencore's embattled ceo. >> keep your composure. case, thehink is the perception of the market is completely different from reality, focus on communications and address the concerns. quickly to acted redo the balance sheet. we communicated on forced perception. i sa

i'm jonathan ferro, live from the city of london. here is your day ahead.ead on the u.k. labor market when the unemployment rate come out and a little more than a half hour time. fed,00 a.m. u.k. time, the an indicator of economic conditions. earning season in full swing on wall street. let's today, bank of america and wells fargo. those earnings in focus. .pmorgan missed estimates democrats took aim at wall street in last night debate. >> greed and recklessness and illegal behavior of wall street, where fraud is a this is model helped to destroy this economy and the lives of millions of people. more on what to watch, i have two mins sitting next to me. hans nichols is the other. manus cranny is one. hans nichols, talk to me about the banks earnings. i wonder if this is a bad omen for the rest of wall street. jpmorgan to be an indicator. that is the concern when you look at where this office was. last season it didn't seem like everyone fell into line. commodity was down across the board. there was not a consistent story beside that. i won't read too much i

speaking to jonathan ferro, they said that short-sellers should beware.oday we copper space, are not trading on fundamentals. i think one good example is there are lots of shorts and copper. we see the pickup in terms of shortselling copper. toyou remember, they decided change the rules in relation to the equity market, where people were no longer authorized to short sell. therefore what we have experienced is a series of players in the marketplace that use copper as a proxy for the chinese economy and started to short sell. today, if you were to look at look the price is, if you where prices are compared to the previous year, there is something that doesn't stack up. the said, we believe that series of players in the marketplace which are using copper as a proxy for the general chinese economy are therefore taking some position. it could be a very dangerous game in the medium and long-term, because at some stage we expect the copper market to go into a deficit, and you don't want a short position -- jonathan: so the question is how long do you think it w

i am jonathan ferro. here are bloomberg's top stories. ab inbev has agreed to by sab miller. agreement cap's more than two weeks of back-and-forth over the price. over halfives control of the industries profit. slump. imports the data extends the street. the most in six years. exports down by 1%. beating an estimated fall of 7%. dicaprio's ducks and is joining with paramount pictures to make a movie about the diesel scandal. paramount says it has acquired the film rights. barclays, the three-month hunt for a new boss. it might be over soon. sources say the lender is close to naming former jp investment jess daly.t -- caroline, give us the data. caroline: ringing true of bob diamond and is fat -- and is to be said about jess daly. he could begin in the dumps up in the next two weeks. -- the thumbs up in the next two weeks. he jumped ship to become a -- heat as he was passed over for promotion jpmorgan. to take over over for diamond himself. they thought he was in the running before we saw antony jenkins take the helm. the former ceo jenkins -- he found it difficult to deal wit

i am jonathan ferro live of the city of london. 40 minutes into the trading session here in europe.'s get a check on the equity markets. the stoxx 600 up by 5%. the dax up by 52 points. .1%.tse 100 is higher by there is one stock deep in the red that i want to talk about. it is burberry. the slowing growth in china hitting luxury companies are with burberry highlighting the trend. here is caroline hyde. caroline: check out this number. down 11.8%. the worst slump in burberry stock in three years. pounds of their market capitalization. the big mess as a result. a quarter less than the market expected. up 2%. the market was to see a percent, thank you very much indeed. disappointment resounding. they are cutting their four-year profit by half. no look are you getting 20 million pounds, you're getting 10 million pounds. it has to do with the asia-pacific, more specifically all to do with china. they talk about a changing environment for luxury companies in general. the product mix, the geographic mix that this company has mix it more exposed. , 30% of their sales come from china. you h

vonnie: welcome back to bloomberg "surveillance" tom keene is in boston and jonathan ferro in london.look at foreign exchanges we await payrolls. the dollar index is stronger. the dollar is stronger versus the japanese yen. and the euro is weaker. 1.1158 before the crucial data. of volatility.it our top headlines. there has been another hacking attack aimed at consumers. t-mobile says 15 million community -- customers who filed credit applications with a wireless carrier may have had a personal data stolen. the hackers stole names and addresses and social security numbers by experian. sprint is hoping he can cut its way back to profit. it plans to reduce $2.5 billion in costs over the next six months. that includes job cuts, although sprint is not saying how big they will be. 80% of sprint. he is the world's worst-performing billionaire. thanks to china's market collapse. the chinese telecom mogul whose fortune has plunged 84% this year according to the bloomberg billionaires index. $1 net worth has fallen to billion for he is using his personal fortune to find a nicaraguan challenger

i am jonathan ferro live from london. is there trouble ahead on main street?mart shares took a dive today, they say it could fall as much by 12% in the next year. rose by 0.1%ales in september. that piece of data is just adding to 2015 rate hike skepticism. odds of a rate hike this year have fallen to below 30%. those dimmed fed expectations together with the fragile economy resulted in a major call from hsbc they cut their forecast to just 1.5% by the end of next year. and on the mega deal of the week anbquite likely the year, to buy sab miller for 3.5 billion pounds. shares of sabr up about 35% since the deal was announced. every threene of beers and the world and collects one of every tubing dollars of profit industrywide. that's a must it for this hour of bloomberg tv. the pulse is up next and we are joined by manus cranny. manus: this has been a big issue. jon: i do worry. manus: do you think there is a chance they will buy perrone? jon: he needs to by others as well. there are a number of italian brands we need to buy back. we won't go there. manus: we w

i am jonathan ferro. we are 30 minutes into the trading day. by 1.6%. the dax is that by 1.4%.ng, itou this is in the green, led by the minors. caroline hyde has the top stories. caroline: the roller coaster that is glencore can can -- continues. we are claim on two games of 9% for glencore. there is much speculation and the press that they could be selling off shores. say they analysts could be worth $10 billion. that will help -- that will help the balance sheet. at glencore, they like the sound of asset disposal. we are having a rocketed this morning. k+s is down 22.6%. 7.8 5 billion euros. because of the commodity route and the concern about the management, and the fact they were unwilling to engage, they're off the table. k+s tables -- tumbles. vw is down by almost 5%. we have apologies over the weekend. the designated chairman put out advertising trying to will back the client base in germany as they try to fix the problem by wednesday. they are trying to dodge those emission regulations. we also have breaking news today that shea's letter, which counts biggest client, is

jonathan ferro is in london. ,ive us an update on lagarde disinflation, and low rates. signal? jonathan: they are worried about a fragile economic recovery and what happens when we go forward. an -- the/ -- the boj theme is the theme of disinflation, low prices get priced on as a factory gain. the bond market once again, yields are low. that theme has not changed for has gotten worse. tom: where does sterling settle. i noticed the grind in sterling does a51 handle. what 1.49 signal? jonathan: the rhetoric has not been matched by a pickup in the data. for those guys to pick about hiking, they need inflation to pick up. that is there one mandate, if they do not have inflation, what can they do. if the data does not match it, it does not count for much. sterling has pulled back in the last month. from london. ferro we are pleased and thrilled to have joachim fels, global economic advisor for pimco, after a tour of duty at morgan stanley, mr. fels has brought to pimco. i want to talk about the savings glut. i think your work is brilliant. i want to congratulate you on berra

i'm jonathan ferro in london. o yourutes and -- 3 int trading day.100 is down by half of 1%, the dax down by 22 points. a big rally in the back half of last week for the stoxx 600, the longest winning streak since march. a little bit of a pullback this morning, down by half of 1%. switch at the board -- when we reasons for the equity market strength was the euro weakness. it was down 3% last week, the worst week for this currency since july and spreads were much tighter. italy was below 100 basis points to close out the week. they are some of the moves in the asset classes and let's get to stock news with caroline hyde. caroline: the pain continues. i want to talk about the that-performing stock, and of the significant so off we saw on friday and it has now lost a order of the billion pounds of its market capitalization. the cyberattacks, the crisis that started to unfolded wednesday when we understood that attackers took a significant amount of data, potentially bringing into question whether it has compromised data from clients or whether the infor

dan jonathan ferro in london.f european trading -- let's get straight to the morning brief. after china's surprise rate cuts, the communist party gathers to lay out its economic plan for the next five years. japan post delivers the japanese government almost 12 billion dollars as investors flocked to the biggest ipo since 1998. the migrant crisis claims another political skeleton. poland largest of the right with the new. party -- with the new party. 15 seconds away from the open. dax futures are pretty much flat. a big week ahead -- the bank of japan. let's get your european market open with caroline hyde. volkswagen caroline: good morning -- caroline: good morning. quite a muted reaction to the stimulus we saw -- the sixth interest rate cut coming with any year. -- within a year. they are injecting up to $110 billion into the financial system, but the hang seng is down by 1/10 of a percent. is it that we have already seen the market move and they have already factored in more monetary policies coming from china

am jonathan ferro. , moments awayndon from the start of european trading. break. the process of selling assets in chile and australia. it reacts to the commodity rout. asian stocks rally. a seven-week high. the biggest weekly gain in almost four years. wake up to brexit. that campaign to keep the u.k. in the european union begins today. ubs and morgan stanley tell investors to start paying attention. 20 seconds away from the market opening. are you paying attention to features almost dead flat. by 40 points. a rally in asia, does a carry through to your? your open with caroline hyde. caroline: does it carry to seven days of gain? the longest winning streak since july. maybe a little caution creeping up to the market. stanley fischer adding to the voices saying we could see a rate hike this year. the dollar is not really reacting. how much do we factor in a rate ofe and a continuation cheaper money that has been driving stocks higher over the past couple of weeks? we are waiting for europe to open and the ftse 100 is data flat. cac 40 is completely fact. a l

anna: we will leave it with jonathan ferro. . ♪ jonathan: good morning and welcome to "on the move." i live in london. we are moments away from the start of european trading. goodbye to the third quarter and hello fourth. stopping the rot -- china's official factory gauge stabilizes around the three-year low. stimulus measures show signs of getting traction. japan stutters. largeence among manufacturers falls. and twitter spikes -- shares jump as speculation mounts that the cofounder will be named permanent ceo as early as today. 20 seconds away from the open. futures up i-93 points, dax up by over 112 point. let's get straight to your market open. caroline hyde is standing by. caroline: we will take what we are given when it comes to china. they are stabilizing and a three-year low. but we like it. we like the fact that we are seeing stabilization, the fact that we are starting to see some improvement. still in contraction, still starting tot we are see some of those measures, not one, not two, but five rate cut. potentially th

i am jonathan ferro. just moments away from the start of european trading.. it is jobs day. will the september report give the fed a green light to hike the u.s. labor market. e.m., in turmoil. capital outflows from emerging markets is set to exceed inflows for the first time since 1988. summit and paris just summit in paris. global leaders: russia to stop bombing in syria. ahead of the open, 20 seconds away. but you futures up desk ftse .utures up -- ftse futures up let's wrap it up with caroline hyde. caroline: could we see green on this friday? we move toward the open. hong kong as to stimulus. that helping to recover from yesterday. i selloff amid the gloomy manufacturing data we got out of the united states yesterday. not voting all of that will for the jobs data later today. 200,000get in excess of -- will we get in excess of 200,000? payroll lacking when it came to the overall view of the market. the cac jumping more than one percentage point. the big recovery happening in mortgage.ina, helps it helps with stimulus.

francine: chicken on the markets with jonathan ferro. an: after three weeks of losses, here is the stronger rebound, gains in italy and spain. here in london we are up 2% on the dax. think two stocks encapsulate what is going on in global markets. the biggest gainer on the ftse and the biggest loser on the dax. the biggest gainer, glencore's. look how it is trading in london. it was the hong kong trading session that took the headlines. , the stock2% encapsulates three things, a slowdown in china, weaker commodity prices, and market volatility. huge strings one way and the other -- swings one way and the other. the market volatility, the commodity means potash has dropped their pursuit of cayenne -- k&syenne us down 20% down 20%. today,iving some back 5%, but it was the moves on friday that really indicated what the world was looking like. the global stock and bond index down below 1% for the first time since april. week data for the u.s., we data for the ui k -- for the u.k.. .51. drops off when dollar you have a decision from the bank o

jon ferro will open the markets for us. jonathanew what i was watching and then 7:00 happened and i got headline after headline after headline. ev is back again with an offer for sab miller, this time just over 68 billion pounds, 42 per share.unds not just higher, but one of the biggest shareholders coming down and saying get on with it. inbev. positive for a bb what would have been the headline -- coming into october, so many people expecting boj action, kuroda holding fire -- will he make a move by the end of the month? guy: ok. jon, a busy our coming up. european stocks or firming, fair value calculation up. he will be back shortly. this is how we think the markets will open. we would take a break. ♪ jonathan: good morning. and welcome to "on the move." i am jonathan ferro. just moments away from the start of european trading. what a busy morning. again, and offer for a b miller, a monster deal. tesco turnaround. the trouble retailer earnings that beat analyst estimates. they refused to rule out a rights issue. kuroda on fire as

i'm jonathan ferro at bloomberg's european headquarters here in the city of london.e start of european trading. hulkish hold. dropping warnings about global risk to the u.s. economy. december is a live meeting. a 6.5% annual growth rate for china. chinese leaders conclude that t their gathering. ahead of the open then, 20 seconds away. so many earnings. so many corporate numbers. dax futures up 34 points. let's get straight to it and get your european market open. >> thanks, jon. we are seeing stocks heading for that monthly gain rebounding from that quarterly route. in fact yesterday we saw the stocks snap a two-day losing streak. it was oil and gas companies leading those gains. yes, we had that policy decision from the fed. of course no rate hike. nobody was really expecting that but what dedid get was a possibly of -- we did get was the possibility of a rate hike. they have not committed to move this year. we have seen the possibility of a rate hike in december at 46% and greater than even odds are priced in for january rather than marv. let's take a look at how

jonathan by forget that, the italian with the negative yield. we are below 100 basis points now. ferroi don't know how much further in -- it can go. i have been proven wrong again and again. caroline: more cheap money for longer. thank you. all across every word that mario draghi others. -- others. home prices in more than half of the 70 major cities monitored by the government are accelerated. it is a sign that interest rate cuts and other stimulus measures are finally taking hold? we are joined by beijing bureau chief. this data seems to be the first time since may we have seen more than half of the home prices rise across the city. change in the outlook for the chinese economy? guest: it is such a rare bit of good news for the chinese economy after so many months of bad data. it does change the outlook a little bit because the property sector accounts for about 15% of gdp. in a lot of ways it really is the beating heart of china's economy. very encouraging may have targeted the property sector in some of their simulation efforts, including cuts to mortgage requirements. yes, a posit

jon ferro, what is on deck? jonathan face another ridiculous trading session for glencore. up as much as 72% in hong kong trading on very little news. back to friday, we were trading in london when the news broke that there were buyers in the agricultural business. up 4% in london on friday. 72% in hong kong? there was a report that they may be open to take offers. with the statement that they are unaware of the reason for the share price movement, i would take that as an effective denial that that is happening. a ridiculous swing in sentiment for the stock. ridiculous move in sentiment for markets and for the fed in general. friday, we come into a payrolls number. probably the least anticipated payrolls number in months. the october fed rate hike probability, 8%. guy: 8%. fascinating. i don't know how we deal with these numbers. thank you very much indeed. jon ferro coming up with that one. glencore, k+s, the fed all in the mix. we looking like a very positive open for european equities. 1.8% to the upside. 1.5% for the

i'm jonathan ferro, alongside caroline hyde. in new york is tom keene.u excited about today? tom: we continue with wonderful guests on "surveillance." jon, we will do a lot of international relations, that is front and center in on the cover of every people, the escalation of russian activity in syria. of course front and center is the economics you love -- ben bernanke will be on bloomberg television later this morning. he will join us on "surveillance" in two or three hours. i attended his book party last night. great attendance i financial and economic leaders. jonathan: tom keene always giving the best advice. international politics and focus. here in europe, soft focus on germany. weakness for a fourth day in a row. deutsche bank is bracing for its biggest quarterly lost in a decade. in the headwinds for vw continue. let's bring in the german team from berlin. hans nichols joins us, and in frankfurt, nick comfort. but the numbers in perspective -- we go back and forth on factory orders, on industrial production, on the exports. what is the headline

ferro is up next -- what do you got? jonathan: a lot of discussions about china.eflation extending a record stretch of declines. the prospect of more easing. what we should be talking about is lifting the lid on the data. it speaks to a service sector that is doing ok, canada manufacturing sector that is obviously in recession. we will discuss what that means for the commodities market. dan, jpmorgan -- a miss for wall street. the bank warning that the pain isn't over, because the pain comes from the volatility, or from washington. we will talk about the politics around wall street later in the show. anna: jon ferro and the team for "on the move," back in a couple minutes. this is how we think european equities will open, their value down by 6/10 of 1%. the dax will open a little bit softer than most, but near 1%. deflation -- those chinese numbers of a talking point this morning and no doubt that will continue. we will see you tomorrow. ♪ jonathan: good morning and welcome to "on the move." i am jonathan ferro at bloombergs european headquarters. let's get to you

i am jonathan ferro, with manus cranny, tom keene is in boston. here are the top headlines.vestors will be looking for evidence that the world's largest economy is ready for higher interest rates. the bloomberg survey berdych said increase in the payroll number. last month, policy makers they held off raising rates for the first time since 2006 citing inflation and risks in the global economy and of an aiding -- global a -- global economy emanating from china. personal information stolen. t-mobile says hackers gained access to the database. addresses, and social security numbers were taken. experience says that payment and banking information has not been breached. amazon will ban the sale of media streaming devices from apple and google by the end of the month. they say the products are not ownatible with its streaming service, prime video. less than 20% of amazon customers are prime members. minutes into the trading session in europe, let's get the session with mark barton. mark: the u.s. jobs report is jobs. to to gain the jobless rate should come down to 5.1 percent, mat

am jonathan ferro moments away from the start of european trading.t to your morning brief. luxury warning. burberry purse at retail sales coming below analyst asked him it's desk analyst estimates. trouble on main street. retail hits a speed bump. the dollar declines for a third day. fencing in the city. the bank of england is to unveil financial industry performance today. topics we will be talking about. this is what future markets is doing. 7.1%.tures up by caroline hyde has your market open. caroline: to what -- before we get to what could be a lunch for burberry stocks. remember 100 billion euros -- 180 billion in the past three days. we are likely to follow asia higher. cac just owning to warm up. pushing our bets on any sort of federal rate hike. those alarm bells coming from data. the retail sales week. -- the retail sales from the united states weak. .c 40 up

jonathan ferro. stay with bloomberg for more on that market open. but we will have much more through the day on the imf and world bank meeting in lima. francine lacqua is speaking to christine lagarde. stay tuned. ♪ jonathan: good morning and welcome to "on the move." just moments away from the start of european trading. it's a bank races ceo john cryan confirms the firms biggest loss in decades. china bites. german exports -- europe's biggest economy shows further signs of weakness. decision time. mark carney is in the hot seat as we await the latest decision. investors are searching. ahead of the open, 20 seconds away. futures dead flat. is data in germany that telling one side of the story. everyone wants to know how does deutsche bank open. caroline: perfect storm brewing in germany. the data is lower. the corporate stories are becoming gloomy. week, it waslding up. the mainland was closed. a little bit of risk aversion. equities trade lower here it cap trading flat this morning. we did see slight higher points yesterday. maybe a little bit of k

i am jonathan ferro and bloomberg's -- at bloomberg's european headquarters.tter-than-expected 6.9%. that is the slowest expansion since 2009. crude reality. saudi arabia is saying -- is said to be delaying payment to government contracts. deutsche bank shakeup. sends out the biggest management reorganization at the bank and more than a decade. 20 seconds away. the other three stories we will because of trading on. ftse 100 futures down around 10 points. dax futures up by 21 points. caroline hyde kicks off the weeks trading. caroline: we are set for a red day. happeningofit taking across europe. concerned about quantitative easing boost. down any immediate gains . anymore bond buying. an effect on euros and stocks as well. 600 and the s&p 500 are in mud pies at the moment. here is the effect we see in the euro. the euro rallying up .2%. meanwhile, we

anna: jonathan ferro is limbering up to that later on. that we will have exclusive interview with the chair of the ecb supervisory council, around 10:00 u.k. time. guy: daimler has reported a profit rise. we got a whole rack of new cars out. let's find out what we need to know about this business with hans nichols. hans: guys, the profitability is impressive and very strong. their sales year on year, quarter on quarter are up 13%. sales came in line with estimates, but it was a clear beat. 150 million better than expected. we also have a snapshot of how will they did in september -- received daimler continues to roll off the assembly line, can here's a more interesting number. year on year sales are up through september in china. guy, they are up 31% for daimler. bmw, up 2%. audi, flat. something is going on with daimler in china. they are somehow able to weather the storm, coming through stronger. they say they will continue profitability, overall, strong members throughout. now have to wait for the other auto companies to report next we