i'm su keenan. this is bloomberg.nne: we had that china data earlier. retail sales, production surprisingly on the upside. i guess the markets are pretty subdued and sanguine, but we did see a bit of a paring back of losses at the start of the session. renminbi 638 right now for your onshore rates. let's bring in simon flint to talk us through what we just heard in the last hour or so. so it was a beat for the most part for some of the data we got out of china. does this justify the strength we are seeing in the currency? simon: not really. because these numbers really just eat -- beat a poor string of data. if you look at the past six months, the total shortfall in this monthly data has been much larger than the beat we saw in industrial production and retail sales. and also note that the property sector was worse than expectations and that has been the recent focal point of concern about chinese growth. haslinda: if that is the case, why is the yuan so strong? simon: most of what is due to the massive trade surplus

i'm su keenan. this is bloomberg. paul: coming up next, a financial ceo says the prospect of the fed raising rates sooner rather than later has been adjusting exposure to growth stocks. more on that just ahead. don't miss our first interview of the day from the bloomberg new economy forum. the china facebook ceo joins us later. this is bloomberg. ♪ >> we forecast this contraction multiple. >> this is going to sound ridiculous. >> definitely pockets of greed. >> don't take money off the table. >> maybe we are going to start tapering, please don't be scared. >> monetary policy is still extremely loose. >> stay invested. >> i look around and i don't think there is anything coming off right now. paul: a divide between bulls and bears. joining us now is the ceo of wealth wise financial. where you stand on the spectrum, are you a bull or bear when it comes to equities? or do you fall into that middle ground of there is no alternative at the moment? >> we do see the market continuing to rally, and there are many reasons for

i am su keenan. this is bloomberg. ♪ >> coming up next, we speak with our guest in here why he says every human being has a right to financial tools. this is bloomberg. ♪ >> commonwealth bank of australia is partnering with gemini trust to allow clients to trade digital assets. bloomberg spoke with the ceo, who says while cryptocurrencies are speculative from the bigger risk is to not participate. >> it is important to say that we don't have a view on the asset price itself. we see it as a volatile and speculative asset, but we don't think the sector and technology is going away soon, so we want to understand it and provide a competitive offering to customers with the right disclosure around risks, build capability in and around blockchain technology. i think there will be lots of different variations and forms, and we are seeing a lot of different interest from customers, but a lot of applicable the over the medium-term, and we want to be part of that. we see risks and participating enough in partic

i am su keenan and this is bloomberg.more ambitious and somewhat expected. last-minute objections from china and india. the details. >> after two weeks, some long nights, and long negotiations, the cop 26, the biggest climate conference in the world, has come to an end and we have a deal. there are a number of things to point out. it keeps the 1.5 degrees celsius temperature check alive, this was a top priority for the u.k. government. it also sees a breakthrough on call for the first time. explicit language that calls for the breakdown of coal and other inefficient fossil fuels. the reason i say water down is an earlier version called for much stronger language. nevertheless, the complement -- compromised version ended up. the establishment for an internationally recognized carbon market is something scientists have called on for years in order to eliminate carbon. you have to be able to measure it and it traded properly, particularly, when you look at carbon credit in the overall market. this is, of course, on paper. th

keenan. ms. keenan: we want to emphasize the importance of training and can't stress enough that raiders need to be trained on m.s.t. and companiers need to be trained on m.s.t. better oversight and governance and feedback can all improve this process and we're hopeful things will improve. ms. luria: thank you, mr. lierman? mr. lierman: we want the v.a. to get good at this and help the programs. for 25 years i've been representing veterans in this process for d.e.v. unfortunately time and time again we're seeing denials based on improper procedures and then the veteran has to go to the board of veterans appeals and sometimes spend years to get their case granted. while hopeful, the realistic in they says prove it, it's been some 20 years and i need to see it done and our veterans need a better process now. ms. luria: i'll now recognize ranking member nals for six minutes. i went over again. i thought it was important to hear from all four witnesses. >> madam chairwoman, thank you. you're doing a

discuss all of these details with our chief north asia correspondent, steve engle and reporter su keenan in new york. steve, let's start with you and the china you go numbers. how strong where they? >> it is the trend we have been seeing all year as you laid out. already exports growing faster than all of 20/20. we were in the pandemic then but every month since, growth above pre-pandemic levels. we were expecting a consensus -- exports really keeping the chinese economy afloat because we have seen weakness in the chinese economy whether it is because of the property chaos happening with evergrande, the power shortages, coronavirus outbreaks have doomed consumer spending -- have dimmed consumer spending and the trade future with the u.s. but, pent-up demand is therefrom abroad, the u.s. and europe and that is where we are seeing a lot of the export growth which led to the big surplus. $84.5 billion surplus. >> when it comes to the infrastructure bill, what are the implications? what do we expect from here? >> the first thing that will happen is president biden is going to head out in the

i am su keenan.et's get you to the market in hong kong. >> we are seeing muted moves for asian markets. tepid, gains of a third of a percent for the asx 200. this after a two-day drop for the market. we do have energy, banks, and discretionary under pressure in sydney. in tokyo, losses continue for the nikkei 225 and the topix. the yen trading in the best zone in four months. let's look at kiwi stocks. the index is among the biggest laggards in asia, along with the kospi, set to open at the top of the hour. watching bond markets and south korea as the yield curve is signaling the cycle will end in 2022 as others begin lifting rates. at goldman sachs, they expect the tightening to broaden out to the rest of asia as the region grapples with inflation, fiscal overreach, and political instability. >> food prices are likely to stay elevated in 2022, as disruptions to the global food supply chain continue. one guest said inflation may not be transitory because of the labor crunch. let's discuss this with t

. >> let's get over to su keenan. >> we start with morgan stanley, economists are sticking with their prediction that the fed will not raise rates until 2023. raking ranks with the ceo, james gorman. in an outlook released on sunday, they say they do expect the fed to end asset purchases by the middle of next year. that stance contradicts with the ceo who called for the fed to start moving next quarter. janet yellen says controlling covid-19 is the key to easing inflation. speaking on face the nation, janet yellen said it is important to understand that the current because of inflation in her view is the pandemic. she also said she expects inflation to decline by the second half of 2022 with prices returning to normal and labor supply and demand handers -- patterns normalized. china's covid czar has defended the strict containment policy. according to the local news, the official called it the most efficient way to protect chinese people saying the measures have not hindered the chinese economy. the latest outbreak is in a city where tens of thousands of university students are in loc

'im su keenan -- i'm su keenan in new york.the global supply chain crunch, volvo sales plunged by more than 1/5 in october as they struggled with shipments to china and europe falling amid a lack of available cars. that is adding to signs 2021 could become another tough year for automakers. there is another sign the crisis is starting to ease. the world's largest smartphone chipmaker, qualcomm, gave a smaller than expected number expected for the corridor, and diversified suppliers to ensure access to materials. firms continue feeling the pinch of the chip crunch. nintendo reportedly planning to redo 20% fewer switch councils than originally planned. the nikkei organization reports the company is struggling to get semiconductors to make machines and meet demand. let's focus on the u.s., with the busiest ports showing massive increases in idle time. from the start of 2018 through october of this year, idle time per vehicle has increased by a half. according to data composed by a logistics tracker. there's more than a day's worth

su keenan joins us. we could see tesla stock done as much as 7% because we are seeing a cryptocurrency version of tesla shares down by that month. elon musk is often on twitter engaging with fans and investors, but, this was really unusual. he floated the idea of selling a 10% stake, asking his millions of followers should he sell and alluding to this fact that this was a tax related so. most of the respondents said yes. musk said in a follow-up tweet he is prepared to accept either outcome, not saying when. analysts say the stock could be down. the story is not negative because he has saying it is tax related. haidi: he has been saying for years he would be the last person to sell tesla stock. why the change? su: he wants more liquidity than what he is able to get through cash and borrowing against the tesla stake. there is increasing evidence that as the stock has stored, he has become the world's richest man and there has been a growing number of portrayals of him as a symbol of rising inequality. we

be medical battle if they don't come in with that city, dodie and someone with that get literally keenan kin kinnon obama cutting the medical. so for supplement. yes. we that is a fundamental you the alley, a labeling white shop. ah ah, ah, it says he, joe, this whole real with somebody's got to do it. where do you go to that by let's go there voice here. promoting clean, save sanitation for all. but with a 3rd of the world lacking basic facilities, can his unique style really help clean up the mess? sunny culture to pop culture is the fastest way those soft, the sanitation problem. mister toilets, a witness documentary on al jazeera and african narrative. mm. from african perspective, a new series of short documentaries, by african filmmakers from across the continent. this program really can commit to handle the african direct. coming soon on al jazeera, pick. oh, the land of the free. if you are black or a criminal, you are so who was supposed to shut up and accept would america give shoes? a new episode of democracy may be exposed racial conflict, ethnic politics and inequality in th

keenan for five minutes. >> chair luria chairwoman brownley ranking members nelson berman and membersf the committee on behalf of the men and women of the -- thank you for the opportunity to provide our views on the sexual trauma program. the department of defense continues to report increases in sexual assault here to your big military sexual trauma or mst affect the physical and mental well-being of servicemembers and the veteran community. health issues like post-traumatic stress anxiety depression and a host of physical conditions affects an individual's relationships, their appointment and their overall quality of life. it's imperative that department of veterans affairs provide support for mst survivors and deliver benefits and services with dignity and respect at the forefront. feedback on mst plans from via w.'s va recommended from across the country indicate there is several obstacles that veterans face throughout the claims process. a veteran's account of an mst incident is typically insufficient for va claim leaving veterans feeling frustrated that these stories are not bel

. >> former niner player and current team executive keenan turner said he is impressed with his contagiousou see him, and that energy that he brings, and you're, like, hey we've got to keep up with this, because den six ready to go! >> i think this is what i'm supposed to be doing, a life of service. >> reporter: this week's jefferson award in the bay area goes to dennis brown. now dennis has won the 49ers community alumni service award for eight years in a row so many times, that he said, hey, we should just call it the dennis brown award. [ laughter ] liz? >> they should. well deserved. thank you, sharon. >>> if you know a quiet hero who is doing exemplary community service, nominate them for the jefferson award. just go to kpix.com/hero and click on the nominations tab for the on-line form. >>> peoplele magazine has named the sexist man alive. >> it's not me. [ laughter ] >> taking the honor is actor paul rudd. >> paul, you're n >> i'm the sexist man alive! ? >> you're the sexiest man alive! >> i'm the sexiest man alive? ♪ >> oh, that's fantastic. now to the runner-up, paul heggen. >> m

haidi: su keenan late -- with the latest on the oil patch. we have more to come on daybreak asia.his is bloomberg. ♪ haidi: a quick check of the latest business flash headlines. tesla extending on mondays drop and cutting almost $200 billion from its valuation. the selloff came as it was revealed elon musk's brother sold shares. that was followed by a report saying they were selling stock to cover debt. tesla has held above the $1 trillion in market value. any the makers had to be expanding shares and will sell 100 53 million shares, up from 135 million shares. that company is guiding potential investors that it is likely to price above the range, between $72 and $74 apiece, making it the seventh biggest ipo on record and can value the company at $70 billion. sales for india's biggest ipo -- the contrast with strong demand from anchor investors. some analysts are raising concerns about their profitability. much more to come on daybreak asia. this is bloomberg. ♪ rg. ♪ >> consumer confidence recovery on foot here in australia. the consumer confidence is engaged coming in at .6 of 1

su keenan joins us. su: this has been very much front and center this week.said he would abide by whatever the majority of these multimillion twitter followers said. 58% said go ahead. you can see a little bit of an uptick in tesla stock in the u.s. session. after hours, it was another bump higher as this disclosure was made public. most of them had framed the possible sale as a tax related sale that had to do with the debate over how to tax the rich. he exercised just over 2 million options and subsequently sold 934 thousand shares. what is important to note is the option to buy shares at six dollars back in 2012. he was able to fill those and that was between 1100 and $1200. not a bad day's pay. these were solely to -- these sales do get some attention in various companies. but really the kind of attention this one did. >> not surprising, least one other lien air has waited on the matter. >> a major hedge fund. he expressed a bit of shock in the way this whole thing went down. he said i had never thought we would let our ownership stakes be dictated by a po

paul: kathleen hays, su keenan, and jodi schneider. let's take a look at asian markets shaping up for the final trading day. mostly a positive lead from u.s. equities. new zealand currently the only market open. higher at the moment. let's see how the day pans out. here in australia, futures poised for arise. we have the reserve bank of australia statement of monetary policy due out in a couple of hours. nikkei futures weaker. we are looking forward to earnings from mitsubishi, honda, and olympus to name a few. japan household spending for the month of september will be out later on. get over to vonnie quinn. vonnie: good morning. the by the administration has mandated covid vaccines for all staff at u.s. companies with 100 or more employees. workers must be fully vaccinated by january 4 or submit to weekly testing. employers that don't enforce the rule or deliberately ignore it say fine. a london court has allowed malaysia to continue its pursuit against abu dhabi's fund. malaysia's government challenges the arbitration settlement. th

. ♪ >> you are watching bloomberg markets: asia, i am su keenan with the follow from the global supplyrunch. some of the top stories today, sources say airbus deliveries start in october with the european playmakers to have only delivered -- plain makers -- plane makers only delivering a fraction of what they said they would. meanwhile, peloton is facing a double whammy from the end of its pandemic sales boom with supply chain constraints and soaring costs of commodities weighing on its outlook. they have slashed their guidance for next year by up to a billion dollars. the white house is pressing congress to quickly pass the semiconductor act which provides 52 billion for manufacturers and eases the shortage of trips -- chips. this is a big issue for some of japan's biggest firms from carmakers to game console manufacturers. the shortage prompted them to slash profit forecast for the year. yamaha and -- these are some of the worst performers on th25 after lowering their outlooks due to chip issues. you can read about these stories on our newsletter supply line. david: a lot of exciting

rishaad: su keenan.ave to sell the shares anyway because in august we have the massive tax bill coming out. there's a conversation about 2012 if he's going to take the salary as soon as mentioned. that tax bill could be as much as $15 billion. yvonne: but way to take it to twitter to ask his followers whether he should sell the $21 billion stake that he has. david: it's a good problem to have. i'd rather have that problem. $15 billion tax bill. rishaad: i actually have that in a different dollar. david: a different currency. yvonne: coming up, singapore and malaysia are reopening, we discuss what's next there, this is bloomberg. ♪ >> as you know, it's one of our main markets, we needed to have positive and the air. so i think that it's a day where we are going to see the future in some way, we can fly all the aircraft back with us, and i think it's important day for us. >> should be at full capacity in terms of the number of sectors and number of seats in 2019, by april 2022. rishaad: virgin atlantic ceo

su keenan there with the laded's. -- the latest.aves plans to raise up to 1.5 billion dollars in new capital to keep flying as thailand reopens its borders. it is seeking about half of that from existing creditors and financial institutions, and have from the government. thai air is under a mandated restructuring program to pay down met -- in -- after record losses. indonesian flag carrier -- needs $1 billion of additional funds to cut debt and keep flying. the government says it is opening to -- open to giving up majority control to raise funds. according to a senior administrator, they are in talks with creditors to restructure about $6 billion worth of debt, and expects to reach an agreement in the second quarter of 2022. haidi: a double whammy of events to look out for, not just the rba decision expecting potentially a policy tweak when it comes to bond markets and inflation coming back into range, and so much could change. this is one of the richest races in the world, usually a huge amount of interest and fashion and glamour a

been seen five years earlier, negotiating with kidnappers who were holding hostages including brian keenanrity correspondent frank gardner. freedom, at last. terry waite released after nearly five years, held as a hostage underground in beirut. now, 30 years on since that release, does he have any regrets? it doesn't seem like 30 years. they have gone remarkably quickly. i still remember those days. but strangely enough, you know, i don't look back and deeply regret them. beirut in 1987 was an especially dangerous place. racked by civil war, a city teeming with heavily armed militias who had already seized western hostages. terry waite arrived hoping to get them released but he was tricked into a meeting with jihadists that saw him kidnapped and held for years in solitary confinement. there were dark times. i was beaten on the soles of the feet with cable. and ifaced a mock and i faced a mock execution. i was blindfolded and taken into another room. my throat went dry because of fear. i'd never experienced that before. i wasn't afraid of death so much as to how would i die. 0ther hostages

been seen five years earlier, negotiating with kidnappers who were holding hostages, including brian keenan frank gardner. freedom, at last. terry waite released after nearly five years, held as a hostage underground in beirut. now, 30 years on since that release, does he have any regrets? it doesn't seem like 30 years. they have gone remarkably quickly. i still remember those days. but strangely enough, you know, i don't look back and deeply regret them. beirut in 1987 was an especially dangerous place. racked by civil war, a city teeming with heavily armed militias who had already seized western hostages. terry waite arrived hoping to get them released but he was tricked into a meeting with jihadists that saw him kidnapped and held for years in solitary confinement. there were dark times. i was beaten on the soles of the feet with cable. and i faced a mock execution. i was blindfolded and taken into another room. my throat went dry because of fear. i'd never experienced that before. i wasn't afraid of death so much as to how would i die. other hostages at the time included the british and

also unraveling the mystery, su keenan is here. let's start with elon musk and pursed -- hearst.is sending a tweet to allay concerns for the owners, what about me? perhaps hearst getting in front of him, they made very big news last week. the rental car company recently emerged from than group c and placed an initial order of 100,000 teslas. 4.2 billion planned to electrify the rental fleet. that announcement sent shares of both tesla and hertz on a big rally. apparently in response to a cap dutch tesla fan account pinking must for stock gains, musk tweeted in a tuesday u.s. session, you are welcome and went on to emphasize specifics that no contract has yet been signed. he also emphasized there is more demand than production, no special deal was given to hertz and he has tweeted that it has zero effect on our economics. that bottom line is why the stock took a dive in the latest session. are looking at a three-day run but it is down about 3% in the tuesday session. hertz did not spun directly but they said they are already receiving some of the cards it ordered. it made the addi

su keenan is here. a lot of factors at play.petitive pressure and that is preying on the share price. su: 199 billion. let's talk about this world that brought this dog down in that -- of the stock down to you mentioned michael burry. there was a business insider report the investor made famous by the movie the big short. tweeted that he may want to sell stocks to cover his personal debts. we are seeing tesla bounce back but the shares tumbled 12% after closing down 5% in the u.s. monday session. musk's weekend pole on twitter asking whether he should sell a 10% stake in his stock extensively for tax purposes resulted in a thumbs up from the many millions that follow him. michael burry saying it may be because he wants to cover debts. layer on the fact has brother sold stock before that and now there is a lot of competitive pressure including a very and focus ipo by the ev maker. priced above the highest range and they expanded the offering. yvonne: let's put things into perspective. when it comes to his wealth, despite the past

rishaad: su keenan, thank you. coming up, we are having a look at binance.ncy founder binance and ceo, we will be talking to him at 930 a.m. london time, five 30 p.m. in hong kong and singapore. this is bloomberg. ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers - [announcer] imagine having fuller, thicker, at xfinity.com/moving. more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five minutes and when you buy 500 strands, yo

i'm su keenan and these are the top stories today.ll and medium enterprises around the world are facing existentialist threats as logistical challenges squeeze businesses, as shipping costs rise and labor shortages continue, experts see more financial trouble had for the sector. volkswagen is expecting chip shortages to persist beyond 2021 but says it is hard to predict because the situation changes every day. meanwhile, volvo will suspend production at its factory due to the lack of semi conductors. in california, the number of days containers are waiting to be picked up by trucks reached a record in october. the so-called dwell time was at 7.6 days on average at the nation's largest ports and that data came ahead of the white house plan to improve penalties for containers left sitting on docs. now some anecdotal evidence and hard data both suggesting supply chain pressures are easing. the mliv question of the day, whether this is indeed the case, and if so, what is behind it? send your questions to marketslive@berg.net -- bloomberg.

su keenan joins us more with more. what are we expecting?the potential for real political showdown. president biden has been pushing the cartel to boost more quickly the output, and has all but blamed the high prices on the cartel, but opec is unlikely to move away from its plans for gradual monthly increases just because the u.s. is uncomfortable with gas prices politically. the latest trade on oil is lower. asia trading extending the big drop in the regular session. brent also falling in the latest session, right as we count down to this meeting, and the last couple of days of west texas intermediate in new york, there were some other factors, an uptick in the inventories, adding pressure, also word that iran talks are about to begin. that is also weighing on prices. they hope to end the standoff. let's get back to opec. if they rebuff the request in the latest meeting, thursday, virtually, we know he has the support of india and japan. he has been working behind the scenes. there could be a bare knuckles fight with the white house, which

keenan ivory wayans. >> "in living color" was the first show created by, written by, directed by, starringerica to come inside. >> yo, yo, yo, all you bad bargain hunters out there, welcome to the homeboys shopping network. >> a lot of what they did on "in living color" was trying to take the stereotypes or the misperceptions about what black men are and turn them upside down. >> not only will you get all the cable stations out there, but you'll be able to talk directly to the astronauts. >> it brought this smart, very controversial comedy that black folks had never seen before that centered around their life experiences. >> who are you? >> i am the minister louis farrakhan. >> african-americans composed 25% of fox's market. >> i always get trapped in the corner with somebody named bob. hey, listen, martin, i just saw "boys in the hood," all right? i didn't know, martin, i didn't know. >> they knew that they needed to capture this audience to grow. >> i guess you think you smart and cool. but if you think you get a job here, you're a damn fool. >> so they basically gave the black creators

controversial new memoir he's got >>> and later on the fourth hour, we'll share some laughs with snl's star keenanetty firs >>> cooking up a storm with al roker. >>> travel restrictions have been lifted. anyone wanting to visit the u.s. has to show proof of vaccination, children under the age of 18 will be exempt. everyone must test negative within three days of arrival. >>> happening now, cierra johnson is following the story, has a full report in the midday news. >>> meteorologist kari hall tracks the arrival of another atmospheric river. this one may not have the impact of the last storm. she will tell you the timeline. >>> an atmospheric river will dump rain on the area. >> and the danger of power outages. how to prepare. join us tomorrow, 4:30 to 7:00. >>> live from studio 1a in rockefeller plaza, this is the third hour of "today." >> oh, and a good monday morning. welcome to the third hour of "today." it is monday. it is november 8th. jill martin is back at the table. >> i'm looking at the monitor. you guys make me happy. we'rebout to have a thanksgiving meal. we have fall vibes going. >> ro

keenan, who's a constituent of mine, he's a young father in my district, and he wrote to me that tax cut that we provided, $300, you know what he is use thank money for? to buy healthy food for his daughter. and he said, it may be only $300 but in the end, it helps that we are most grateful for. that is what this is about. when the republicans said the tax cuts for the wealthy and they got more for themselves and gave their c.e.o.'s and didn't pay their workers more in wages and didn't expand health care or child care and didn't make their workers feel value. and because of that, many workers today are having a hard time. but yet, democrats through the congressional black caucus are standing up and and that is what the build back better act and i yield. ms. moore: it's going to be great. i don't know how much time we have. i don't know how much we have. i want to say i'm enthusiastic for voting for both these bills and i do think it will create a brand new environment and environment and new technologies and battery storage and i'm proud of the african american-americans who have bee