i'm juliette saly. this is "bloomberg best," your weekly review of the most important business news, analysis, and interviews from bloomberg television around the world. let's start with a day by day look at the top headlines. on monday, optimism grows on signals the u.s. and china might be preparing to restart trade talks. >> face-to-face negotiations between top chinese and u.s. trade negotiators could be restarting soon after a number of goodwill gestures by beijing over the weekend. that is according to chinese state media. >> what we are seeing with the chinese moves on agricultural purchases, what we are seeing from our reporting out of beijing, it looks like they are about to start buying again, soybeans and possibly some pork and other agriculture commodities. that is all about goodwill measures, if you will. we should not take that to mean a deal is suddenly at hand. >> ceos of major tech companies paid a visit to the white house to discuss the economy and huaweiof the u.s. ban on equipment sal

let's get to juliette saly in singapore with your markets. a little bit more of a subdued session in asia. pretty much for those reasons you were alluding to. we are not going to see u.s. trade thursday. we can is coming through in china's market -- weakness coming through in china's market. money going into india stocks ahead of the budget tomorrow. australia closed higher as well, a fourth session of gains. you have seen a little bit of money going into korea and japan as well. the nikkei up by about 0.3% on the close. there was a big bond auction in japan. let's have a look at some of the other assets we are watching. in the last half-hour in singapore, there has been a big tumble in iron ore futures prices. that is one to watch for the european session in terms of potential moves coming through in those metals players. urge come through in the -- coming through in the hong kong dollar. more signs perhaps of some strong, or some strengthening in terms of support for those assets from the hong kong monetary authority. the offshore yuan a li

nejra: juliette saly in singapore, thank you.umbers from rundstedt. 5.9 reported revenue of billion euros. we are joined by the ceo. great to have you on the show. tank you for joining. one thing that analyst and investors are focusing on are your margins. do you see the third-quarter growth margin slightly lower, sequentially area and i want to ask about margin management in a slow growth world. you have the latitude to keep lowering costs and protecting margins? henry: the -- thanks for having me. set of numbers and more challenging markets. we have been able to improve our growth margin by 20 basis points year-over-year to 20%. that is mainly driven using our value-based pricing. we are using more data, more insight into labor markets to price the profile. manus: i want you to make the economic world, live for me, i look at your geography, north america, netherlands, france, germany. we are talking about slowdown in the netherlands, give me your take on the state of the global economy. henry: i am happy to do that. the slowing

let's check in on the markets in asia, with juliette saly, in singapore. juliette: a bit of a risk off session in asia, ahead of the u.s. gdp later. we got industrial production numbers here in singapore, a beat, rising 1.2% in june, first is estimated 0.8% drop. about 0.6%, yen steady at 108. indian stocks fluctuating on earnings coming through, but elsewhere it is very risk-off, and australian stocks off near all-time highs. the kospi down a third session in a row. i want to focus on stocks in japan. we heard softbank will launch a second division fund, with -- vision fund, with $108 billion in funding, including with partners, the likes of apple. this investment, daiwa securities, is likely to boost earnings. bloomberg opinion says masayoshi son has a lot to do with the second fund, because there aren't many didis, grabs, ubers to find with this new investment round. tokyo, on the close in with a 99% plunge in first quarter profit, doubling the jobs it will cut to 12,500. no surprise, investors don't like that. the stock off 3% in the session today. matt

let's check on the markets in asia with juliette saly in singapore. happy friday. juliette: happy friday. not so happy for markets. denuded session because we didn't have the leading from wall street. we are awaiting the u.s. jobs report. fairly flat on the nikkei. we are seeing weakness in chinese stocks, though most analysts come through with forecast saying third-quarter numbers should be good in china. and outlier is australia, rising and holding and november 2007 highs. we are watching the indian market. pretty flat ahead of the budget speech coming down, but we have seen this in sex and nifty -- and asian stocks having a pretty good week. the fifth weekly gain. all eyes on samsung today. let's look at what happened with second-quarter numbers because they came through, excluding a one-off gain. the june profit more than halved. globally.lowdown korea's largest company reporting a 56% fall in operating income to around $5.6 billion, but when you take out the one-off gain, which we haven't been given a lot of info about, that could be attributed to $800 million.

i'm rishaad salamat. >> in singapore, i'm juliette saly.nes. deutsche bank may cut or than a fifth of its global growth forecasted its biggest shakeup in years. the ceo may have proved the loss of 20,000 jobs when he presents his latest restructuring plan, although the ultimate total has not been finalized. has beenhareholders he working on harsh cut that after dropping merger talks of commerzbank. >> apple is said to make its new mac pro desktop when china moves devices,n of its major using quantum computers to make the $6,000 machine, down in a factory outside shanghai. this comes as the united states threatens new tariffs on goods imported from china. president trump had been slamming apple in the past for making devices in china. >> singapore develop the capital and had completed acquisition, creating one of the biggest real estate groups with more than $90 million usd of assets under management. having agreed to by two property units from state investment funds in january. >> protesters gathering in hong kong, working the anniversary o

a look at your first word news, juliette saly joins us from singapore. tte: boris johnson has told a campaign meeting that i split from brussels is key to keeping the u.k. together. he said failure to deliver brexit could split the nation apart. toldgov poll last month tory members would favor brexit even if it meant breaking up european union. sending syria despite violation of sanctions. iran responded by summoning the british ambassador to explain. the incident comes as european powers struggle to save the he run nuclear deal after president trump walked away from it last year. a $240,000 to the stepson of a former prime minister. aziz was charged with money laundering. film companys reached a settlement with the justice department over claims they financed the wolf wall street movie with 1mdb money. testimony, a person told a judge that a payment was in exchange for a promise that at least six members of the international olympic committee would vote for rio. global news on air and at to back on twitter. i am juliette saly. this is bloomberg. the num

nejra: juliette saly in singapore.markets got a tailwind yesterday on dovish comments from federal reserve vice-chairman richard clarida. williams said it is better to take preventative measures than wait for disaster. his comments boosted expectations toward 50 basis point cut, but speaking with fox , we, richard clarida said do not have to wait for things to get so bad to have rate cut. this added more fuel. 41 basis points of easing priced in for july. this was dial back to 35 basis points. the spokeswoman clarified the anarks saying they were from academic speech on 20 years of research, not potential policy action at the upcoming fmoc meeting. will the fed take a small step or a giant leap this july? join the debate. we judge to the mliv team on your bloomberg. joining us now, viraj patel, fx & global macro strategist, arkera inc. as we celebrate 50 years of the moon landing, small step or giant leap for the fed? viraj: i think there are two twice five basis point cut coming. when i look at the rationale for the c

juliette saly in asia has more.a.te: a quiet day in the new zealand story just about the only thing of interest, with numbers bang in line with forecast the nikkei is leading losses here. we saw japan closed yesterday for a public holiday, so some selling in japanese equities. the nikkei down 0.7%. also selling in china, amid very low volumes. a little take -- tick up in hong kong, india and south korea. we heard from the rba, the july minutes meeting, saying it is watching closely and will adjust rates as needed. and watching moves in the philippines talk, entering -- philippines stocks, entering bull market territory. some stocks in detail, interesting to see south korean samson suppliers doing well today, on a trade spat not between the u.s. and china, but with japan. analysts coming through saying people might come more tow ards domestic buying if japan ups the rhetoric on the suppliers. upsung, a samson supplier, -- samsung supplier, up over 70% in seoul. strengths in the financial sector, analysts saying it re

congratulations, juliette saly. it is 2-0 right now i think between you two.see the charts featured on bloomberg television, catch up with key analysis, and safe charts on the bloomberg. this is bloomberg. just kidding. [laughter] david: we are watching out of the boj as well. exclusive.o this we were speaking with the mexican president here about schroeder.thomas he said his country actually need to lower rates, but he adds that he does respect the independence of the central bank in mexico. he spoke with our editor in chief in mexico city. have a listen. one thing is what's to be desired, and a different thing, what is possible. i would like the central bank not only to work on controlling inflation, but for it to be thinking about growth as well. we are talking about what the central bank is doing. they are more cautious about inflation. this is not a bad thing. no, this is not the wrong thing to do. i'm not saying that. but it is important to lower the rate to encourage growth. that i'mn issue leaving for the central bank to decide, because we trust. looki

in mumbai, i'm juliette saly. >> i'm rishaad salamat.ning session in hong kong, here's a look at our top stories. markets anticipating the first fed rate cut in a decade, a busy week bringing policy decisions from tokyo and london. is the latest in the weekend of protests in hong kong, stocks are down sharply in the city, volumes are spiking. >> animal spirits are in short supply as india struggles with its own economy, services and exports both slumping. this is "woburn markets." ♪ >> the stocks in hong kong certainly the forefront on investors minds following those weekend protests. the hang seng is at levels we haven't seen since mid-june's with volumes spiking as consumer stocks hit hard following the weekend protests. we will hear from amgen as to what members are saying about the protests and whether businesses are looking at an escape route. aboutners are selling 72,000,000,001 in coffee futures and analysts are saying they could expect to see the index come under further pressure in august has we start to see concerns about valua

juliette saly has more. liette: certainly risk off on the back of that trump tweet about more tariffs. if you want to see how much the trade war has affected other economies in asia, look no further than singapore where we saw nonoil domestic e-sports fall 17.3% in june from a year earlier. electronic exports down by 31%. singapore's market holding up well. you are seeing weakness in the nikkei today. similar weakness in hong kong today. a bit of a turnaround in the chinese markets in late trade. australia's asx 200 held up well by bht. --saw that surgeon iron ore surge in iron or prices. it could ratchet further due to output supply. india's market looking quite good amongst the earnings season. at some ofave a look the hong kong stocks we're watching, particularly in the retail space. this is on the back of those protests we've seen over the past month or so. bloomberg intelligence suggesting that hong kong retail sales are likely to fall due to the protests keeping the tourists away. we had giordano yester

matt: juliette saly in singapore. the u.s.nd china had back to the tray table this week for the first time since may. with little expectation on either side of a breakthrough, looming over the talks are the new geopolitical issues and there's no signs that beijing or washington even want to budge on demands. what do you think about the possibility of any forward progress here? are think the chances andtively low for any big substantive u.s.-china trade deal. the way i would describe the trump administration's strategy or goal with china is for a big, really good trade deal, or no deal at all. i do not believe that the president is interested in a sort of slapped together deal at the last minute. do a deal even though it might not be as far-reaching as necessary. it is either going to be a great deal which material worries -- which materially shrinks the trade deficit with china and addresses the intellectual property theft issues and other ways china has been using the wto, or there is going to be no deal at all. if there is n

nejra: juliette saly in singapore. thank you so much.ordea bank, second quarter operating income missing estimates. by iggest nordic bank assets, the group says results are not satisfactory and they need to review capital and dividend targets. the president and ceo of nordea bank joins us on the phone from helsinki. kasper, thank you for joining us. should investors prepare for a dividend cut? kasper: i'm not going to comment on that right now. when we look at where we are, in recent years we have de-risk ed the bank, invested heavily in digital and compliance platforms, and concentrated the business into the nordic markets. we really have entered a new phase of customer focus. what has also changed,t he financial environment. you made comments on that earlier in your program. most importantly, we expect to have better clarity on our capital requirements from the banking union. really this, in combination, has said we need to review our overall business targets, which of course includes also capital policy and dividend policy. we'll comm

juliette saly has more on the rba rate decision and a lot more. great to have you with us. juliette: they were saying that yesterday's global rally could be a one hit wonder but a lot of asian stocks still well supported today. .17%.ikkei up 0 you want to take a look at hong kong. the hong kong hang seng playing catch-up, being led by tech players, by 1.3%. the hong kong dollar has been searching, reaching its midpoint level for the first time since september. a little bit of flat moves on the main chinese index. yesterday, it was up 2.9%. selling coming through in the likes of korean and taiwan chipmakers. they rallied today. only a small pullback. the rba decision, interesting to hear what governor philip lowe has been saying. they have been on these record expansions, cutting interest rate today to 1%. this is the first back-to-back cut we have seen in seven years. the economic growth trend is expected in his cut was really to spur this economic growth, saying the potential samaria -- potential scenario remains reasonable. we have seen the s&p 500 hit its highs on the clo

. ♪ >> i am juliette saly. yvonne: we are entering the last hour session in hong kong.t. .ll 25 take off one surgeon close to 5500 -- close to 500%. listing a super majority. his plans for the constitution may be yvonne: derailed. signs of stress -- may be derailed. after: signs of stress the collapse of a formal lender last year. this is "bloomberg markets: asia.". >> a bit of a negative start to the trading week after we were still trying to get clarity over what the fed is going to do. look at gold and there could be a 50 basis point cut. japan's market coming under pressure today, but a little bit of strength coming through in the chipmakers up by about 1.5%. we have been watching what has been happening with the japanese elections and little bit of money coming out. saying the fact that there is a reality of a higher sales tax could create moves. we have seen money going into oil as well with u.k. calling for a diffusion. by 1.4%. it is all about what is happening in shanghai. as we mentioned, very solid debuts. we are hearing that there will be an official index a

juliette saly in singapore with a look at your asian markets. is expectedreserve to cut interest rates by 25 basis points at today's meeting. that would be the first cut since 2008. robert burgess says expectations aren't for a one and then move. the markets are expecting the fed to signal lower rates in the months ahead. adding to this, president trump has started attacks on the fed calling for a larger cut. today on mliv, willie rate cut drive-up volatility -- will a rate cut drive-up volatility? that is ib + tv . max, great to have you with us. notuld argue that necessarily the cuts drive volatility but if we get messaging from jay powell that disappoints markets at all. >> that would have been my answer. look, i think the problem is it is not going to be about the cut. they will be about the language and the problem i see is if we have a 25 basis point cut and then the fed says look, it we are going to continue to watch reference to data dependence, let's call it the normal fed policy of the last decade or so, that would would be read ha

i'm juliette saly. this is bloomberg. ♪ ♪ >> this is bloomberg technology. future of 5g, the justice department gives the thumbs up on t-mobile's acquisition of sprint. apple will not be exempt from china tariffs. president trump pushes the company to move production to the u.s. france moved to tax with the biggest tech company -- tax the biggest tech companies. the s

juliette saly has your asian rap in singapore -- wrap in singapore. monday afternoon here. .5 percent.ff by it has been a bit of a cautious day's trade. a lack of clear direction while they are in that quiet period, having investors stay on the sidelines. weaker asn closing well. in thailand, some inflation numbers and export numbers. we saw those dropped by 2.15% year on year in june. earnings season weighing on indian stocks. we have been watching the debut of the star board in saying high that shanghai. have a look at this stock, up 400%. there is no index tracking this. it started 11 days after the 30th company is listed on this board. but cap bloomberg data, it looks like the index alone is up 75% on gave you. i want to show you the chart on inflation in indiana as well. it is below what the r.b.i. is that before. have been three rate cuts from the r.b.i. this year, but when they turned to that accommodative stance, that was another 25 basis points. you have to wait for all of that to play catch-up. there has been an improving monsoon rains. lower

juliette saly from singapore has more on the asian markets. broadly positive, but awaiting more headlines on the u.s.-china trade talks in shanghai. the nikkei up, no change the boj policy, but they did cut the gdp and inflation forecast. we have seen movement into the yen. the hong kong hang seng index up after yesterday, falling the most in six weeks. insurance stocks today, and good buying in a lot of chipmakers as well. was looking at the australian market, it is getting close to a record high. level wet the highest have seen since the index was created in 1992. just try to work out on the close if it will be a record, it is looking like it. this is my chart showing we are starting to see a little bit of resilience in terms of the protests in hong kong. this yellow line back in april is only saw record highs on the hang seng. that red dip is when you saw the bulk of the protests in june that got national attention and we saw a quite a bit of selling. yesterday there was quite a bit of selling in hong kong markets as well. investors are not

juliette saly has more for us. how is it looking today? on here asery risk well.hat money coming out of safe havens like the yen helping to push out japanese equities. you see a huge rally coming through on chinese stocks as well, as you would expect. .5% -- going up by two a by 2.5%. let's play catch up to the rally tomorrow. you are seeing broad-based buying despite disappointing data out of the region. we had the survey in japan with estimates, we had south korea's experts falling for seven months in june, and we had the pmi data out of china over the weekend. and the number coming in at its lowest reading since january. all of these are due to the concerns over the trade dispute. but certainly the trade truce giving a boost to stocks. in this tech space, we see the most momentum. it was a bit of a surprise reprieve, and easing in terms of the huawei restrictions. we have seen rare earth players coming under pressure because that was one sector where it looks like china could use ass could use as momentum. much. thank you very iraniantures of the envoy for the

juliette saly in singapore has more. good to see you. has it looking -- house it looking?> asian stocks higher for a second session amid the trade talk optimism. a lot of money going into chinese stocks today. holding onto gains coming out of the lunch break. the nikkei looking pretty good. australia is asx 200 is headed towards all-time highs. --t level since news that november 2007. fall.uing to we heard from ubs today. he things iron ore could drop below $100 in the fourth quarter as valley moves to boost output. i want to show you what's been happening with the all he does or -- aussie dollar. bill evans coming through. he's known us -- as the doyenne. you could see a rate cut from the r.b.i. as early as october to point -- 0.75%. look at how the aussie dollar has really tried to break out of this resistance. it has failed four times. we are continuing to see weakness in this aussie doar. you could see a catalyst when we hear from the rba governor philip lowe on thursday. bulls watching to see if we could break out of that resistance level. more weakness coming through

juliette saly in singapore has more. how is it looking? rtainly a little bit more risk off today after we start to see that g20 optimism over the trade truth wayne somewhat. wane somewhat. hong kong coming off strong gains. the hang seng down by .3%. you mentioned the strength in the yen. we have been watching moves in korea, too, which the south korean government is cutting its growth forecast, 2.5%, down from previous estimates. australia's market closing higher for a third session in a row. we had a pretty strong trade andlus thanks to the search iron ore prices and i want to show you some of those assets we have been looking at, particularly the yen and japanese bond yields. prime minister abe says this unprecedented monetary easing is not a failure. is employmentt and what is important is to improve the real economy. earlier, we had the boj really trying to support the monetary byicy part that they are on the interest in the yield curve. down by one basis point. worth noting the mood coming into the korean won, down by .5%. i mentioned

much get a check on the markets in asia with juliette saly and ignore -- in singapore.ood to see you. we do havelthough most of the key indices tracking higher, the msci asian index up for a third session of gangs. -- gains. the nikkei up by one third of 1%. positive news in terms of the trade talks between the u.s. and china. the cost be is underperforming. second-quarter gdp was a beat. corn is are selling futures. people aren't willing to buy on the dip on the cost be. 4/10 of 1%.y weird from the rba governor saying, if there's back to back rate cut in australia, they are willing to act again. fa aussie has fall and -- llen. i want to focus on the tech sector. we have been looking closely at high decks in seoul. it came through with numbers that were amiss. it's going to rein in its chip output amid the trade concerns. that seems to have impressed investors. shares tracking higher in seoul. we heard from apple supplier saying they see demand for new iphones starting to stabilize. you have one of the biggest apple suppliers in taipei off by 3%. samsung coming through,