we are joined by juliette saly for the news from single. te: or the deadline has passed for public comment on turf on 200 billion. dollars on chinese imports some of the country's most prominent companies and retailers made a final push to convince president trump to reverse course. last night, trump told a rally in montana that he would strike a good deal with china for american farmers. >> we are cracking down on unfair trade practices emanating from china. america is tired of getting ripped off. we are going to get a great deal for our farmers and ranchers and factory workers. we are giving our workers and businesses a level playing field . juliette: emerging-market stocks have fallen into a bear market, saiz of the msci emerging market index, which has now dropped 20% high.its generally 2016 developing markets are under pressure from a stronger dollar and rising u.s. interest rates, as well as american protectionism. contagion concern has come to the fore as the most vulnerable developing economies like argentina and turkey, fell into cr

juliette saly.es president donald trump used his address to the united nations general assembly yesterday to reassert his america first worldview. he chastised the regime's of iran and venezuela and offered a rejection of the u.n.'s multilateral approach and prompted laughter as he lauded the success of his administration. pres. trump: in less than two years, my administration has accomplished more than almost any administration in the history of our country. so true. -- [laughter] did not expect that reaction, but that's ok. [laughter] [applause] the u.k.'s prime minister will today pledged to britain an to make economic powerhouse and the envy of europe. in hurt keynote address in new york, theresa may will say that britain will have "the lowest rate of corporation tax in the g20, making it one of the most business friendly economies in the world." as well as being a sales pitch to foreign investors, the comments will be aimed at eurosceptics in her own party. theresa may gives that speech at 1:30

let's get more from juliette saly. te: the founders of instagram are leaving facebook after growing tensions with ceo mark zuckerberg over the direction of the photo sharing up. the founders who have been at the company since instagram's acquisition by facebook in 2012 have been able to keep the brand and product independent from facebook but bloomberg has learned that lately, they were frustrated with an unusual uptick in day-to-day involvement by zuckerberg who is more reliant on instagram for facebook's feature -- future growth. rally may be short-lived, according to janet tradingheads bps business in asia. any spike on the loss of iranian supply due to u.s. sanctions probably will not be sustainable because the negative impact on demand from a trade war tween the world's two biggest economies has not been priced into crude yet. a death by 1000 cuts. isple are the market, it choosing not to price in that potential demand being much weaker than we thought in 2019. bps ceo bob dudley joins us for an exclusive interview

let's get to bloomberg first word news with juliette saly in singapore. liette: sweden may face weeks or months of political gridlock after an inconclusive election left scandinavia's it is economy without a clear candidate to form a government. orther the social democrat the opposition alliance won enough votes to form a majority government. this was democrats party, a fifth of the vote, looks to hold the balance of power. japan's economy grew at a faster pace in the second quarter than first estimated. the readings for gdp growth was a revised up to 3%, bidding forecast that a stronger business investment boosted momentum. welcome news for shinzo abe and the boj after a contraction in the first quarter. in the u.k., boris johnson has launched what many see as a bid for power,: the prime minister's brexit strategy a humiliation. he savaged theresa may's policy of keeping britain tied to trade rules after brexit. in an exclusive interview with bloomberg, the budget chief gave an update of those divorce talks. >> negotiations are ongoing. the new chief nego

let's get the bloomberg first word news with juliette saly in singapore. juliette: donald trump is standing by his supreme court nominee brett kavanaugh after a day of emotional testimony on capitol hill. the president tweeted that kavanaugh was powerful, honest, and riveting, accusing democrats of a total sham. the judiciary committee plans to vote on the nomination today. kavanaugh spoke after one of his accusers, christine blasey ford said she was 100% it was him who attacked her in high school. >> i do not have all the answers. i don't remember as much as i would like to. the details about that night that bring me here today are the ones i will never forget. they have been seared into my memory and have haunted me as an adult. >> this confirmation process has become a national disgrace. the constitution gives the senate the important role in the confirmation process. advise andplaced consent with search and destroy. juliette: japan's industrial production expanded for the first time in four months as retail sales accelerated. output jumped 0.7% from a m

this is bloomberg. >> juliette saly, thank you. take a look at what you should be watching this week. france unveils its 2019 budget in paris and the president leaves donald trump in new york. we also have a trade delegation going to the u.s., and tomorrow the u.s. leader addresses the un's general assembly for the second time. on wednesday the fed is expected to raise rates and release updated projections. we will get to those. >> it's all about -- it depends on which bank you read. we see turkey's presidents begin a visit to germany where he will meet angela merkel just outside paris. fed, and thethe reserve is set to announce its latest policy decision on wednesday. the market expects a rate hike. ,he latest quarterly review they are warning that central banks are overburdened and unprepared for the next downturn. the chief investment officer at in termsty tough lines of what central banks are up against. conference this news is going to be the last independent moment before trump turns on the fed. would you agree? >> i would fi

first word news with juliette saly in singapore. juliette. state media has warned the nation should not expect a quick resolution of its trade dispute with the united states. no sign that president donald trump has changed his thinking. an editorial in the global times said that while it is good to talk, china should be aware there may not be ideal anytime soon. the newspaper said washington is still taking a tough attitude. bank of england governor mark carney has told senior government ministers that a no deal brexit would probably see interest rates rise rather than fall. bloomberg has learned that carney told them that crashing out without an agreement would lead to the fall in the pound and higher tariffs, pushing inflation higher. he suggested that would make it harder to cut borrowing costs to support the economy as the boe did in the aftermath of the brexit vote in 2016. in the united states, a new book claimed that gary cohn backed dealings with the scandal hits malaysian state while executives questioned -- who questioned the transa

here's a bloomberg update with juliette saly. juliette: the deadline has passed for public comment on tariffs on chinese imports. prominent technology companies made a last-minute push to convince donald trump to reverse course. het night trump told a rally would strike a good deal with china for american farmers. pres. trump: cracking down on unfair trade practices emanating from china. america is tired of getting ripped off. we are going to get a great deal for our farmers and ranchers and factory workers. we are giving our workers and businesses a level playing field. juliette: emerging-market stocks have fallen into a bear market. the msci asia-pacific index has dropped. developing economy assets are under pressure from a stronger dollar and rising u.s. interest rates as well as american protectionism. contagion concern has come to the fore as the most vulnerable economies fell into crises. brazil's presidential election campaign has been jolted after the leading candidate was stabbed during a street rally. the attack on the f

from the charts you should be perusing, let's go to juliette saly. she has your first word news. ette: u.s. president donald trump has slammed what he calls decades of abuse by canada and threatened to cut ottawa out of any north american trade deal. he says there is no political necessity to keep canada in the accord and warned congress not to interfere. president's tweet was sent shortly after he left the white house bound for his golf course. donald trump will skip two major summits in asia, a move that could so concerns about america's reliability as a counterweight to china. the vice president -- the white house rather said mike pence would travel to singapore for an 18 nation summit hosted by as he and before heading to an aipac summit, usually attended by 21 liters, including xi jinping and vladimir putin. italy's yield spread will their out as budget details are -- narrow as budget details are unveiled. a prediction comes in the wake of widening spreads and a decision to lower its outlook on the country. italy's bond yields have pushed higher over the summer in response to

this year from juliette saly with the business flash.tter ceo has been grow by congress on what republicans call the shadow banning of conservative voices. jack dorsey says it is dangerous to ask the platform to regulate opinions or be the arbiter of truth, adding he would rather be judged by impartiality then be criticized -- and the criticized. other conservatives have complained that social media is biased against right-wing opinions. >> i will survey making something very clear. we do not consider political forpoints, perspectives, party affiliation in any of our policies or decisions. period. impartiality is our getting risible. juliette: americans -- american express well after the fbi began investigating practices at the organization. the wall street journal says the inquiry began last month looking at whether consumers were misled thought to gain more businesses as amex . bloomberg has learned that his job is now at risk because company directives are presenting elliott management were impatient with his lack of progress in turni

juliette saly has it from singapore.as picked frankfurt as its european union hub and is made preparations for the worst-case scenario of written crashing out of the bloc without a trade deal. was bank will also have multi locations in the region with offices in madrid, paris, and milan. speaking to bloomberg, sergio ermotti said the decision was made weeks ago. jpmorgan ceo says he is done with politics and blames which is for his claims that he is smarter than president trump. he told abc he has no intention of making a run for the white house, saying the current administration is handling the economy well. last week he boasted he could be the president in an election before rapidly backing away from the claim. it andouldn't have said more out of frustration and my own which is no, but i shouldn't have said it. it also proves they wouldn't be a good politician. >> and that is your bloomberg business flash. much.nks very juliette saly in singapore with your business flash. asian stocks are dropping by the most in a week

juliette saly in singapore.e yuan extended gains after a leaders said beijing has no intention of using the currency as a weapon in the trade war with the u.s.. will never go down the path of stimulating exports by devaluing its currency. meanwhile, nafta talks said to resume today in washington. page, aus now is david senior economist. welcome, thank you so much for joining us. good to see you as always. seeing this trade war escalation but markets seem to be shopping it off. we talked about -- you think it could get worse than this. >> in the near term, the rhetoric is going to ratchet up. we have seen the implementation -- china's retaliation has been less. in to the ratchet up january, itnto picks up to 25%. you are going to see the u.s. talking about the next phase, phase three because of the chinese retaliation. that will worry markets. , hopefully, around the time of christmas, you might to see negotiations starting solid. from a market perspective, we will get more headwind from the rhetoric. the differe

for that we get to juliette saly. liette: goldman sachs group investment bankers are completing a takeover of their own firm. three of the most important roles will now be held by executives who rose through the dealmaking unit, overhauling the company that has been a wall street powerhouse for years. john waldron will be the first next president and chief operating officer, the second-most powerful position in the bank. has said the company will spend more than $150 million in canada to support driverless car research. speaking to bloomberg, he said the company has to demonstrate its have to prop -- profitability in a multibillion dollar industry -- multi-trillion dollar industry. >> we think we can build our host of services that essentially replace all of these use cases of the car. this is ultimately a $6 trillion industry. that is your bloomberg business flash. anna: thank you very much. banks had money managers have placed orders for the biggest leveraged loan this year. $9.3 billion and 3.6 billion in euros as i

juliette saly, thank you. be speaking to the jpmorgan asia-pacific chairman and ceo. be sure to catch that conversation. more on president trump's trade war with china. conversation with a former u.s. trade representative. this is bloomberg. ♪ s bloomberg. ♪ is daybreak: asia. president trump is following through on his threats on $200new tariffs billion worth of chinese imports. they are going to be going into it effects next week. i asked an obama era trade representative what he thinks. >> for those of us that are hopeful, that we can avoid a we will keepwar, thisingers crossed that routine might bring china back to the table. been surprised at the wavy the nafta trade talks have unfolded, with a bilateral agreement on the table? i don't know that i can say im surprised by what this administration does anymore. this is not the only administration that made a commitment to modernizing nafta. a u.s. tradeed commitmentive with a to modernize nafta and we did so through the tpp. administrations, we have shied a

let's check on the markets and asia with juliette saly. m sure you have been talking about the 10 year yield. juliette: absolutely, we have been talking about that and more in asian equity markets. we are seeing some gains coming through, asian stocks up for a third session. the nikkei slightly higher by about .25%. it has been fluctuating and technicals are starting show that the nikkei could be overbought. those rallies we have been , but broadly it's a good session for asian stocks. certainly one of the front runners in the region. let's look at some of the stocks we been watching, an interesting ipo in hong kong, a hot market for companies to debut that it's been hit in miss so far this year. but the food delivery company is rising on its debut, it had a $69,ng price of hong kong up about 5% there. also watching the airlines in hong kong, after jeffrey said perhaps the worst is over for that sector new look at the headwinds from the oil crisis. and brick works coming a little bit under pressure, off by about 5%. market fundamentals rema

let's get the first word news with juliette saly in singapore.ublicans have joined democrats and amending further investigation of a woman's allegations that supreme court now many brett kavanaugh i folded her decades ago in high school before a crucial judiciary committee vote to move it forward. one republican, jeff flake, said the accuser "must be heard" before the panel votes on the nomination. a white house official said yesterday that donald trump won't withdraw the nomination. in hong kong in southern china, the cleanup from the typhoon is underway after the storm left at least two dead, damaged buildings, and ruptured sites throughout the region. the cheat tv says it caused more than $29 million usd in damage and killed more than 15 people when it hit the philippines. in the u.s., companies, regulators, and environmental groups are waiting for record slumps to reseed to make a comprehensive assessment of hurricane florence. the national weather service has warned rivers through north and south carolina are still days from cresting as the

juliette saly has the from singapore. juliette: u.s. president donald use his address to the united nations to reassert his america first worldview. he chastised the world -- the regimes of iran and venezuela and offered a rejection of the un's multilateral approach. he prompted laughter as he lot of the success of his administration. -- as he lauded the success of his administration. pres. trump: we have accomplished more than any other administration in the history of our country. so true. [laughter] did not expect that, but that is ok. the u.k.'s prime minister will use low tax to make post-brexit britain an economic powerhouse. in her address to the bloomberg global business forum, theresa may will say britain will have the lowest rate of corporation tax in the g20, making it one of the most business friendly economies in the world, as well tobeing a sales pitch foreign investors, the comments will be aimed at eurosceptics in her party. she gives that speech at 1:30 p.m. london time. merkel has been dealt an unprecedented blow by re

juliette saly with your world and national news. will europe's banks ever recover from the global financial crisis? we will ask the ceo of the institute of international finance, tim adams. that is next. ♪ matt: welcome back to "bloomberg markets." this is "the european open." we want to go to juliette saly for a bloomberg business flash. has warnedayer earnings will be lower than it projected earlier this year. that is as the company issued its first forecast since completing the purchase of monsanto. it said core earnings per share will reach about five euros to 5.9 euros, missing estimates. the ceo joins us after 8:00 a.m. u.k. time. general motors sales fell by 13% in august since the automaker pulled back on sales incentives, especially for pickups. that is according to bloomberg sources. the sales results trailed estimates for a 7.7% drop. that may have been dragged lower by a pullback in fleet sales or discounts as retail demand deteriorates. a spokesman declined to comment on the sales figures. ryanair's chairman is facing i

juliette saly joining us with an update.ton yesterday with the s&p 500 and the dow jones industrial average both hitting record highs. our next guest says emerging-market assets are likely to remain vulnerable. bonzon.us now is yves great to have you with us. mark,ke yesterday to famous for his views on emerging markets. you are less keen on e.m. right now? yves: indeed. primary driver is in washington. -- ourst there's ours investors are seeing a new paradigm with things much more focused on u.s. fundamentals in a less cooperative mode with other central banks. they will proceed with further tightening policy. we speak, there is no reason to expect any slowdown in u.s. growth. matt: we do see emerging markets, the selloff started when u.s. yields stabilized and now we are hovering around the 3% level. to godo you expect yields now and does that mean you expect emerging markets to stay down? further expect normalization on the short end of the curve. the most important thing has been the rapid rise in the 10 year yields in j

juliette saly in singapore. tesla plunged in extended trading after the securities and exchange commission accused elon musk of misleading investors with his go private tweet. the sec is asking a federal court to bar musk from serving as an officer or director of a public company, saying he committed securities fraud. musk said he is disappointed by what he calls the unjustified action. teslas board released a statement saying it is confident in its ceo. , good tos from tokyo have you on this story. we have seen a stunning decline in teslas shares. how much further could they fall ? it depends where this sec probe ends up. >> it certainly does. , if wen the suit itself want to make a case for further declines when the market opens, we can start with where the price has been. earlier this month the shares $263.s low as today's decline is just below $270. believe they would not go at least that low. that would be their lowest since april. you go back to april they were all the way down to $250. it would not be har

haidi: when it comes to friday markets, juliette saly is with us in singapore.n asia. you are seeing strength coming through in the south korean won, which many say looks like a safe haven to the japanese yen, which is rising in the cm uncertainty. south korean won is up against all caps asian peers so far, accept the hong kong dollar. we are seeing the thai baht stronger. they say it's starting to look like an alternate safe haven. the rupee are, which we are watching closely, had strength yesterday on speculation the bank of indonesia might try to support the currency and the overall market there. to the downside, a lot of weakness in the peso. we had a strong inflation figure yesterday in the philippines. the malaysian ringgit on track for its 12 weekly drop on the selloff you are seeing. how is that playing into equities? a little positivity in chinese markets today, when you look at the csi 300 up 1%. that's the first gain in three sessions ahead of the potential new tariffs from the u.s., slight gain on the hang seng index, up .1%. still seeing a selloff i

let's get first two juliette saly for the bloomberg business flash. liette: twitter's ceo has been grilled by congress on what republicans call be shadow banning of conservative voices. jack dorsey insisted it is dangerous to ask his platform to regulate opinions or be the arbiter of truth, arguing he would rather be judged by impartiality and be chris sized if the company fails on that. president trump and other conservatives have complained social media is biased against right-wing opinions. >> let me start by making something clear. we do not consider political , orpoints, perspectives party affiliation in policy or enforcement decisions. period. impartiality is our guiding principle. citigroup will announce a restructuring of its investment banking operations today according to business insider, it will combine corporate and investment banking with its capital markets origination business. the website says the new unit will be headed by the global head of capital market origination and its head of investment bank. citi declined to comment. american

he spoke exclusively with juliette saly in singapore. ♪ >> there's a lot of unknowns in this environmentyou placed in how are you making business decisions amongst all this escalation? >> yes, good morning. over the last two days, i was in beijing, and i talked to a lot of people. i'm less concerned about the than the recent announcement a few hours ago. it is more an impact on sentiment, investor confidence, derivative will be what we have to track a bit more closely. right now, this event where we have over 100 treasurers trying to gauge what's happening, it is important. there are clear paths we have to do in terms of going through this discussion. i don't think it will be resolved in the short-term. is we needto happen to make sure we have a roadmap, certain, specific milestones to be achieved, that both parties are clear in terms of what they are trying to achieve, how they want to do it. and if those milestones are not hit, what are the consequences? ♪ >> what does this do to risk appetite and financial stability in the world? >> well, if we look at the global economic outlook, ove

we go to juliette saly. juliette: china has said it is completely up to the u.s. when trade talks between the world biggest economies resume. in a news conference, officials said china is capable of offsetting the effects of the dispute and will boost domestic demand, investment, and business sentiment. >> china does not want a trade war, but we are not afraid of one. we have the confidence and capability to deal with risks and challenges. china has kept the door open to negotiations. but negotiations must be conducted on the conditions of mutual respect and should not, china's right to development. u.s. president has said he is looking forward to meeting with ron rosenstein on thursday to discuss his future. that comes after bloomberg has learned rosenstein told john kelly he was resigning. createdus and future confusion after reports he suggested last year to coworkers he would record conversations with trump. argentina's president has said there is no chance his country will default and a revised imf agreement will shore up investor confidence. macri made the c

juliette saly is there with us. what do we have?ric rosenbach from the harvard kennedy school, former pentagon chief of staff. this is one area where he works for the u.s. defense department and he says north korea was the country he was most concerned about. thanks for joining us. we have these talks happening in pyongyang. how confident are you that they will be fruitful, three months on from the singapore summit between kim jong-un and president trump, where it seems not much has happened? >> i'm not very confident that they will be fruitful, but that doesn't mean they are not important. here's why. kim jong on always needs a little bit of attention, so the personal diplomacy the president is willing to give by going to pyongyang's important for keeping progress billing. there will be a long-term things that require a lot of effort and if you don't give him attention he becomes unpredictable. >> you say when you were working for the u.s. defense department north korea was a country you are very concerned about as a potential cybe

you, juliette saly with the latest news. some corporate news breaking.orris -- philip citing argentinian accounting for the change. and currency for the revision and the narrowing of the view so the radars -- fx is on of see's weights around the world and philip morris is cutting guidance. next, emmanuel macron said he will push ahead with his plans to reform eu policy. we will bring you that interview coming next. this is bloomberg. ♪ omberg. ♪ anna: this is bloomberg markets, the european open, 15 minutes to go till the start of equity trading. let's get a bloomberg business flash. the ceo of ubs says he will miss his former investment bank had but added he is proud to see him because such a prestigious role at santander. he made the comments in an exclusive interview with bloomberg. >> we are sorry to see him crucial he was a very in helping us execute our strategy and execute this tragedy but we are also glad that and proud that one of our team is, got asked to take on such a big an important role. ceo has joineds the growing chorus that sees $100 oi

juliette saly in singapore.il prices are higher this morning after donald trump demanded -- amended opec take rapid action to lower oil prices. the group said it would boost output only of customers requested it. we spoke to alexander novak about his country's output capacity. let's see how september ends because the month is not yet over. if we are looking at all these ofbers, we have $47,000 out 300,000. that means are still within the october cut level. we have always been within those levels. i would like to once again underscore the fact that this is with all the agreements that were made in june 2018. i would like to remind that we should increase output by about one million barrels. so far, we only managed to do five or thousand barrels. why they once again recommended achieving 100% conformity. much extra oil production can you put into the market by december? terms of: in short-term potential, it's what a couple hundred thousand barrels. prospects, a lot depends on what we will ready to be -- what we wi

let's get the bloomberg first word news with juliette saly. the u.k. is promising fresh plans to break the brexit stalemate after eu leaders bluntly rejected theresa may's blueprint and warned that time is running out. two days of talks broke up without progress as leaders piled more pressure on the british prime minister to shift her stance. they say a special november summit to sign a deal will only go ahead if the u.k. makes more concessions next month. may reiterated she is ready to crash out of the bloc. have always said, we are preparing for no deal. if we get to the position where it is not possible to reach a deal, the british people can be confident we will have done what is necessary to ensure we make a success of leaving the european union. juliette: u.s. president donald trump has continued to hit out at china after announcing another round of tariffs, signaling the trade war will not end anytime soon. he made the comments to fox news in las vegas. >> the youngstown framework, context of administrative law, questioning unilateral executive

juliette saly in singapore with your headlines. up next, swedish stalemate. elections a macron scandinavia's largest economy failed to produce a clear winner. we will speak to anders borg live from stockholm. this is bloomberg. ♪ >> we thought at the last minute, the u.s. government will come in. i was trying to get a phone call from our u.s. had -- head. that was the worst-case outcome. we had not expected that. it was clear confidence in the banking system was waxing and waning. only a serious recapitalization of the banking system in the united kingdom and the united states would resolve the problem. >> when i request how much debt trillion, market, $90 that is what started to worry me. >> you realize things were much more interconnected than you thought they were. and what seemed to be small markets can have much bigger effect than you thought. >> our members into a good friend of mine, i am down on paper 100 million quit today. >> as human beings we tend to say this time is different. history tells us that is not the case. >> as you look at the banking s

let's get the bloomberg first word news with juliette saly in singapore.uropean union has started exploring what emergency measures it may need to take in the case of a no deal brexit. bloomberg has learned that during a closed-door meeting yesterday in brussels, methodist discussed the steps to block make a should negotiations collapse. french president emmanuel macron said he would welcome the u.k. back to the eu. he spoke exclusively to john micklethwait at the bloomberg global business forum in new york. >> if the british were to remain, what you have us back? >> sure. >> even though you are trying to re all these bankers, your take us back. >> it is about history, not about having domestic interests. juliette: south africa's president said his administration will pursue plans to redistribute land to the country's black majority. interview, hee also said that he is still considering whether constitutional amendments are necessary to make it easier to expropriate property without compensation. iswe are seeking to do now to balance that equation and make