tightening its grip on hong kong one has to wonder what such a deal between the hong kong stock exchange and the london stock exchange mean that the london stock exchange would eventually be dominated by communist china you know a couple of years ago when the frankfurt stock exchange try to merge with the london stock exchange this deal eventually failed because london refused to be dominated by the germans it's very very doubtful that the proud people in the city of london would prefer to be dominated by communist china. and of course this is this did also could affect the frankfurt stock exchange itself. yes of course it would affect frankfurt not only because a large a super large new player would emerge on the market a large competitor for frankfurt and for all of the market operators on the european continent but also because a deal which the frankfurt stock exchange might try to make recently and we failed would become a possibility again i'm talking about griffin it is which is a large data provider owned by thomson reuters a while ago frankfurt tried to take over parts of refuted but this deal

match than purchasing one of the main stock exchanges in europe at another main important financial hub? and in terms of timing, now is perfect because the londone will acquire affinity of and if that deal would have gone through, the resulting entity would have been too big for the hong kong stock exchange to be acquired. and the currency exchange, the pound being undervalued at the moment, but tell us about the regulatory hurdles stop you said earlier it's unlikely a chinese entity will be be able to buy into the london stock exchange but we've heard other regulatory hurdles in the past where courtiers have sought out the london stock exchange. giving up such an important financial entity in your country to a foreign entity is obviously extremely difficult. regulators will probably not want to be seen as giving the green light to such a deal, especially in an environment where uk politics is very probably a bit dizzy thinking about brexit, so nobody wants to ta ke about brexit, so nobody wants to take the headache on themselves and be seen to be giving the green light to this deal. in other business news: british airways has started e—mailing

next, the financial times takes a look at hong kong's £30 billion bid for the london stock exchange. ording to the paper, the london stock exchange is preparing to rebuff the takeover bid. buzzfeed has the details on president trump's plans to tackle the rise of e—cigarettes in the us, by removing non—tobacco vape flavors from the market. the daily mail focuses on the rates of cancer survival in the uk, which is lagging behind other high—income countries according to a study. and finally — people around the world are sharing their recollections of the 9/11 terrorist attacks, 18 years on. this article is the memories of a graphics designer who was working at the new york times. with me is david buik, market commentator at core spreads. that's get stuck in. we were discussing yellowhammer earlier, the papers can decide what to focus on. they're looking at oliver but what is the headline? is it going to be the highest court in scotland's decision which was astounding? i was going to be back yellowhammer. cerberus lied to the queen? let's deal with the yellowhammer then, we have project h

there is so much more to this than just what we see as a stock exchange of london and a hong kong stocke. the hong kong stock exchange owns the london metal exchange. this is about global power between five or six big entities. brokerages, big definitive, and bloomberg itself. this is about power across blocks of control, much more than one set of data. there is a bigger picture. vonnie: i am looking forward to your next opinion column on this because it sounds like there are tectonic shifts a foot. kong gives an attractive enough offer to the london stock exchange, will the board decide to go in that direction? vonnie: they obviously -- marcus: they obviously do not want to do that. they have planned out the perfect deal. how often does a bitter share price-- a bidder share rise when they get to take over the blackstone elements of what they were trying to combine? it is a perfect deal for them. , it is much higher than the stock price. you look back to it before the it was up 50%,, the bid. the question now is whether cme or someone else comes in. der comes in,id than the london stock

london and new york. the hong kong exchange currently briefing on their surprise bid for the london stock exchange. bit in history. his company has owned the london metal exchange since 2012 and is saying it is no stranger in operating in the u.k.. they were just asked if the fact that the u.k. is going through brexit and the pound is cheaper was a factor in the purchase in choosee said they don't the timing, you choose what is and they say the u.k. will remain a global financial center no matter what happens. tom: very good. we will come back to the london stock exchange as the briefing is going on. in 10 minutes we will have more on a global transaction. our chief content officer will want to comment on this. we have a morning must read right now on the use -- on the news yesterday of bolton out the door. we can pontificate about what it was. atlantic did a great feature five months ago on ambassador bolton. this is how you fire the pool boy. guy youhow you fire the overheard cracking wise in the break room about your haircut. we haven't a lobbyist, mark esper at defense and the secretary of state

next, the financial times takes a look at hong kong's £30 billion bid for the london stock exchange. eparing to rebuff the takeover bid. buzzfeed has the details on president trump's plans to tackle the rise of e—cigarettes in the us, by removing non—tobacco vape flavors from the market. the daily mail focuses on the rates

your business asia jones and glenn good to have you with us and starting with this is the london stock exchange has rejected a 39000000000 dollar takeover bid from the hong kong exchange calling it a fundamentally flawed a surprise offer made on wednesday was turned down in a letter saying that a swift and certain implementation was simply not credible the elizee says it's sticking with its plans to buy data and analytics group within it to. now at the same time the 2nd biggest i.p.o. this year could soon come hong kong's way bloomberg news reports that hasa bush in bed has revived plans to raise $5000000000.00 through an i.p.o. in hong kong the brewing giant behind brands such as stella artois and u.s. provisos said it's asia pacific subsidiary has resumed its application for the listing of a minority stake of its shares on the hong kong stock exchange the move could be a boost for hong kong bourse which has recently been battling to win listings by international companies due to political tensions with beijing. now china meanwhile has called on its biggest state firms to take a more active ro

it is a great deal for the london stock exchange. a great deal for the ceo of the london stock exchange. it's also just as important to hong kong exchanges to prevent them from buying this. this is classic m&a. if you want to keep them from getting stronger, by them. or keep them from doing something transformative. paul: is that how this fits in with the broader consolidation of exchanges? matthew: it is interesting you say that. you have to look at this and the broader consolidation of exchanges. the exchanges have come together for the last 10 to 15 years. there is not a lot else you can do out there. now is the time for the hong kong exchange two pounds. it was one of the last group sitting out there to be had. if lse does this transaction, they are out of reach. if hong kong exchanges is not able to consummate the deal, there are not a lot of other things for them to do. we are in the last innings of the consolidation wave that has gone on for 10 years now. paul: matthew monks, thank you for joining us. a reminder, bloomberg lp,

there's news this week, the hong kong stock exchange trying to acquire the london stock exchange. lot of consolidation on your watch. you've done deals in terms of this sector. what's your reaction to hong kong wanting to acquire london? >> it's a logical move that there be fewer but larger, call it transaction managers. we call them stock exchanges. hong kong, i think strategically positioned with london creates the opportunity for a 24 hour a day, 5 day a week or more marketplace. i think it's a very interesting price level. i think it's high -- maria: it's rich. >> it is high, and, you know, i wouldn't be surprised if the bid gets changed higher. because i don't think london is going to accept the first bid it gets. nor do i discount the possibility that london turns around and bids for hong kong. maria: there are fewer companies today public than there ever have been, by the way. and the private market is also heating up. give me your reaction to what's going on in the public -- >> i think what we've experienced in the last call it ten years is that companies stay private long

we saw the shanghai stock exchange going straight to london and listing chinese companies. ese stock exchange that if they do not become bigger, they will be bypassed by their big story which has always been the china gateway. that story is getting more eroded as time goes on. francine: thank you both for joining us. up next, signs that greece is returning to normal after a decade of financial crisis. at an year bond yield is all-time low. this is bloomberg. ♪ ♪ surveillance."is in"surveillance." let's zone on the fundamentals of the european economy with janet henry and el beltre gallo -- alberto gallo. there is lack of inflation which mario draghi is trying to spur. you have a difficult and patchy -- growth patches because all countries are so difficult -- different. janet: that is true. they will probably say growth has been in line with expectations but the outlook deteriorated. the forward story in europe is extreme weakness in the industrial sector. germany has been in an industrial recession for over a year because of the auto story. the industrial recession has been

london exchange. this is bloomberg. ♪ david: the hong kong exchange has made an unexpected offer for the london stock is marty schenker, bloomberg' chief content officers. if this moves forward, it would be the largest exchange in the world. is, whatd the question does that really get you in an environment of shrinking margins and less volatility in the market? trading is increasingly being driven by robots. scale is important, but profits are shrinking in that world, so this is obviously a chance for hong kong to kind of get scale in order to make that business at least have some semblance of growth. david: is a question of what this means for markets in this new world. it also raises geopolitical questions. i wonder what this would have looked like before the extradition bill and all of the protests in hong kong. marty: i think that is one of obstaclesmportant to this deal ever happening. there are questions about but hong kong will be going forward. there are treaties and rules, but it is kind of amorphous who is going to really control them. i think it is a huge issue. david: it seems like beijin

with us so the hong kong stock exchange has made a bid for one of its biggest european rivals the organization says it has offered more than 36 $1000000000.00 for the london stock exchange group the proposal envisions a single exchange joining europe with asia the chief executive of the hong kong exchange chance lease says the deal would quote redefine global capital markets for decades to come. now our financial correspondent bruce in a standing by at a nother eggs change out of the frankfurt stock exchange conrad's interesting bit but given the current political tensions between hong kong and beijing and of course the brics of chaos here in europe what does all that mean. that means there are still a lot of question marks about whether or not this deal is really going to happen or not with beijing tightening its grip on hong kong more and more one really has to ask wouldn't such a deal mean that in the long run at least europe's most important market operator in london and one of the u.k.'s the united kingdom's most important strategic assets would be dominated at least indirectly by beijing the communist government there remember a few years ago frankf

business asia like a johns and glenn good to have you with us and starting with this is the london stock exchange has rejected a 39000000000 dollar takeover bid from the hong kong exchange calling it a fundamentally flawed a surprise offer made on wednesday was turned down in a letter saying that a swift and certain implementation was simply not credible the us east as its sticking with its plans to buy data and analytics group within it it. now at the same time the 2nd biggest i.p.o. this year could soon come hong kong's way bloomberg news reports that m has a bush embed has revived plans to raise $5000000000.00 through an i.p.o. in hong kong the brewing giant behind brands such as stella artois and u.s. but visors says it's asia pacific subsidiary has resumed its application for the listing of a minority stake of its shares on the hong kong stock exchange the move could be a boost for.

as we remember 911 and the new york stock exchange the hong kong stock exchange has made an offer to acquire the lung london stock exchange. they're putting at $36.6 billion. and of course we have seen consolidation in the exchange space. this would be a big deal. we will have them coming up to react to this. in my experience of the stock exchange i started at the exchange in 1989 but at that time there were 5,000 people on the floor of the exchange. today there is one room and in about 500 people. some people refer to it as a museum now. you take it to her rather than observe somebody trading. so much consolidation. those trading jobs are actually gone. and we've automated so much. it also shows how powerful hong kong and and how much assets are there. and the power of some of those countries looking to diversify across the world. we will see more consolidation. we will see what london says. didn't the lse just make a bid not long ago for $27 billion. that raises the spread of questions about that deal that the lse was trying to prevent. >> you might want to diversify at this point if you are in hong kong

the london stock exchange -- there we go. nge set to reject $36 billion offer from the hong kong exchange comes amid doubt of structure and risk ab inbev with plans of a hong kong ipo a few months ago, the company scrapped those plans that ipo to take place before the end of the month and/or call's ceo mark hurd to take a medical leave finally smile direct club pricing inside $23 a share above the expected range valued the company at about $9 billion. shares will trade on today changing gears opec and allies are meeting on the sidelines in abu dhabi opec combined with russia have risen this week. bringing in helima croft from that meeting cnbc contributor i'm just going to say the smart, amazing, talented helima croft how does that sound? >> fantastic we didn't get signs of deeper cuts they essentially punted that they've all pledged greater confirmity with the agreement. iraq has pledged to significant reduce their production. nigerians said they'll basically make adjustments as well russia has said they'll come into confirmi

the offer is 20 pounds and 69 pence for every london stock exchange share held.he deal would be financed through cash and new facilities. the lse would need to drop the take over had refin tiff an announcement will be made in due course and adding it remains committed to the refinative deal if this deal does go through it will be the biggest take over and provide an expanded 18 hours of trading viewed as a politically sensitive one. hong kong acquiring uk and italy markets. the lse has a history of rejecting foreign suitors. >> our colleague jewulianna is live from the london stock exchange a report that the lse is leaning towards rejecting the deal but for board members, isn't it a choice of taking the refinative deal or the hong kong proposition. >> reporter: we heard yesterday that they do remain committed. as emily mentioned there, this is a highly politically sensitive deal the hong kong side has proposed. there is really two problems one, this would effectively be a chinese company taking hold of a british firm all of the questions that would come with that

but a former head of the london stock exchange says the trend of stock exchange consolidation will continueitable that that consolidation will continue. and it really concerns a very, very small number of globally-positioned exchange or financial infrastructure companies. none of them today have the e of globalit products. ourne: let's bring in bloomberg intelligence senior industry and asleep. we've heard reports the hong kong exchange might tweak up the cash offer a little bit, but tell us the value proposition of this potential deal. >> i think it is a great daily if they get it. for the hong kong exchange, and makes a lot of sense. the strategy over the past decade has been about connecting china with the world, and lsd is the biggest odc clearinghouse, and with the start of the london and shanghai connect, i think the threat to hong kong will be reduced as well. its a great deal for the london stock exchange, a game changer as far as the industry goes, and the optics perhaps don't look good, with many suggesting the beijing influence would come to bear on the hong kong exchange. at the

stock market world. hong kong exchanges and clearing has made an unsolicited bid for the london stock exchange.he deal would kill the tie up with a data provider -- and that is the question. will the deal go through? the u.s. business sector -- u.k. business secretary says it would come in for scrutiny. keen to seeways foreign invest investment, collaboration with different international interests, but we would have to look very carefully at anything that actually had security implications for the united kingdom, which is exactly standard. we would always do that. is a former hedge fund manager and now a professor of finance. great to have you with us. you are skeptical that this will go through. tell us why. fabio: if you look at it from the standard mechanical hedge fund perspective, one of the things he would look at is how long will this deal take to close? the other is the probability of a closing on the volatility along the way. when we look at all three of those, since 2000, there has in seven bids to take over the london stock exchange from relatively from the people. nasdaq.germany, ev

bloomberg news meant to provide financial news, data, and information. >> the the board of the london stock exchangeas unanimously rejected that bid by hong kong exchanges and clearing in rejecting the bid. the london stock exchange board said it had fundamental flaws it rejected claims that it can be completed swiftly and with certainty. they also rate regulatory concerns and some concerns about the uncertain political environment of hong kong and how that would impact the share portion of the bid. nevertheless, it may not be the end of the story. a number of market watchers say they expect hong kong to bed once again for the lse. >> concerns of a stored ipo are -- stalled wework ipo are continuing to flare. the rental company, apparently pushing the company to post its offering amid concerns about evaluation. -- a drop in valuation. >> the problem is that once other investors got a look at the details behind wework and its perspective, they didn't like what they saw. they saw huge losses, $690 million in the first six months of this year alone. they saw very competent and -- complicated corporate

breaking news this morning a takeover bid for the london stock exchange. stock exchange. we have the very latest. the china trade oil this morning. china suspending tiffs on some tariffs. what could it mean for the face-to-face talks that take place in just a few weeks. markets as morning are higher. take a look at the fractional gains we are looking at. nasdaq is lower it's down three half points. the streaming wars deepen apple is announcing the streaming service that will be just a for 99 a month. and they will be able to get their first year for freight for some people. all that coming up "mornings with maria" begins right now. [music] i will gladly stand up and defend her still today because there ain't no doubt i love this land, god bless the usa. [music] with a big story this

it had also insisted that the london stock exchange drop its plans to buy the data firm refinitiv.ard unanimously rejected the takeover proposal. the pound has extended gains and jumped to a seven—week high against the dollar as investors cut their bets on sterling falling, as they think the risks of a no—deal brexit could be receding. sterling rose 0.6% to $1.2418, the highest since 26july. dollar weakness has allowed currencies to strengthen this morning. nearly a third of all energy companies fitting smart meters are still installing old technology. government guidance says that since the middle of march 2019 customers should only have been given second generation smart meters. however, eight companies still installing first generation smart meters say the network is not reliable enough to switch customers onto. a quick look at the markets. britain's main index is flat, edging down slightly. losses in stocks of global companies causing downward pressure because of the rise in the pound. and also the ftse feeling downward pressure from a rise in the shares of diageo. that is all

with us so the hong kong stock exchange has made a bid for one of its biggest european rivals the organization says it has offered more than 36 $1000000000.00 for the london stock exchange group the proposal envisions a single exchange joining europe with asia the chief executive of the hong kong exchange shots lease says the deal would quote redefine global capital markets for decades to come. now our financial correspondent susan a standing by at a nother eggs change out of the frankfurt stock exchange conrad's interesting bit but given the current politico.

stocks in asia slightly mixed. more breaking deal news. hong kong exchanges and clearing is proposing a 36.6 billion cash and stock offer for the london stock exchange it approached the lse with that bid. last month, they agreed to by the financial information provider in a $7 billion deal. those shares up about 9% right now. investors bracing for the first in series of banking decisions due in the next coming days. nor global manager, louise, how much will they play into the central thesis in the next coming days as opposed to other macroevents? >> we've seen some quite muted movements because of this kind of waiting to see what this decision will be on thursday >> louise, with that in mind, is there a central bank in particular we know the central fed has been driving much of the action will they set the tone given the negative environment we've been speaking about over the past few months >> certainly, because the u.s. market is a little more dependent than the rest of the world. the support we have within europe is going to be more indicative of perhaps whether there is going to be ongoing support and we haven't seen much strength out o

stocks breaking a week long winning streak on the beijing exchange. hong kong a stock exchange is more than $36000000000.00 for the london stock exchange the proposal envisions a single bourse joining the europe with asia that it said would redefine global capital markets for decades to come. i wanted to own a car that is a growing question in big cities where public transportation unrighteous ops often widespread sent where young people typically are more concerned about their carbon footprint we sent one such cost skeptic our own mother over to the frankfurt most a show to see if he could be convinced to get behind the wheel. of almost 30 and i've never owned a car and why would i. living in berlin means i can get anywhere pretty much any time by bus or train. and if i do need a car i can just rent one through car sharing service i'm perfectly fine without my own car. i'm going along with this only one 3rd of young german city dwellers say a car is important to them and i'm wondering what is the car industry going to do about that. well what better place to find out than at a boat a show at the i.a.e.a. in frankfurt a major car companies from all over the

kong stock exchange shares have fallen sharply after an unsolicited bid for its counterpart in londonering the equivalent 36 point $6 billion for the london stock exchange. bft reports it is set to reject the bed amid doubts about political risk and deal structure. says it ceo is taking a leave of absence for health-related reasons. willounder and co-ceo assume his response abilities. the company didn't give more details or say how long the absence of b. oracle shares fell in after-hours trading as adjusted first-quarter revenue missed the lowest estimate. blackstone has raised more than $20 million for its largest real estate fund ever. the final close on the blackstone real estate partners worked the $15.8 billion raised in 2015. institutions are putting more money into the property market to protect against inflation and diversify their holdings. electric car sales fell in china in august for a second straight month. in the latest sign that one of the most durable dealers is crumbling. deliveries of new energy vehicles declined 16% from a year earlier to 85,000 units. this comes as

stock exchange operations on two continents. ♪ stock exchange has made a surprise $36.6 billion offer for the london stock exchange group. they say they remain committed to the deal but that they will consider the unsolicited proposal. but this deal into context -- it would be a massive deal on the part of an exchange operator in business. >> took holiday politically sensitive situation be an understatement, given what's going on in hong kong. the hong kong exchange has interestingly positioned itself as a more global player rather than a hong kong or chinese one,. that is something that they really need to consider. but it could really stop her the deal, this deal with hong kong would be contingent on the deal not going through. >> -- to provide financial news, data, and information. >> the board of the london stock exchange group has unanimously rejected the takeover bid with hong kong exchanges, and in rejecting the bid the exchange says they have fundamental flaws in rejected claims it could be rejected swiftly. they also waived regulatory concerns and concerns about the uncertain political environment and hong kong

stock exchange and they have some news that . that's right the deutscher bill is a you know it's come through a failure of a merger with the london stock exchange in the year 2017 but since then it's gone from strength to strength the stock has gone up not least because of the volatility as the professionals say in the markets that is when nervous investors russian rush out of the market each time the do. which of those are profits not just by the share prices the fees generated there but also the in between services that the doj or bills offers as well and it's spec that because of that success that it will be upgraded become a member of the eurostar 50 so the church bells of if you will a success story in light of all this catastrophic illness only bands reporting live from the frankfurt stock exchange thank you. and our coming to the other global business stories making the news today the government in argentina has restricted currency trading in an attempt to battle a deepening crisis in its state finances companies will now need to get permission from the central bank to buy foreign currency to rating agencies have downgrade

stock exchange operators on two confidence. hong kong stock exchange has made a surprise 36 and six billion dollar offer for the london stock exchangeould upend. it remains committed to the deal, but it will consider the unsolicited proposal. but this deal into context, it would be a massive deal on the part of an exchange operator in business for decades. >> two: a politically sensitive situation would be an understatement given what is going on in hong kong and the protests at the moment. the hong kong exchange has tried to position itself as a more global player rather than a hong one, and thatese is something that they really need to consider. suffer the deal as the steel with hong kong would be contingent on the deal with -- the parent of bloomberg intelligence and bloomberg news meant to provide financial news, data, and information. >> of the board of the london stock exchange group has unanimously rejected that bid by hong kong exchanges and clearing in rejecting the bid. the stock exchange board said it had fundamental flaws it rejected, claims that it can be completed swiftly and with certainty. they also rate regulatory c

london stock exchange by hong kong london stock exchange rejected it but would the london stock exchangenist chinese. >> the london stock exchange wants to become more of a data provider, but it's interesting and it's the last chance to buy the lse and break the definitive deal and consolidate exchanges >> you see their strategy of farm -- let's say foreign aid, you see there's signs everywhere belton road in english, right in our faces. but i think you have to recognize that they -- the chinese are so close to europe versus us, we are not part of the equation when it comes to europe because we are not pro europe >> the reaction to draghi at least was brief. i think the entire german curve is back into negative territory. let's get to steve and talk more about what he said >> he said negative rates are a he necessity and he went more into the necessity range there they cut their benchmark rate by another 10 basis points to negative 0.5 they add 20 billion euros of quantitative easing on top of that he said the easing is in response to a lower inflation, weaker economy he said we see pers

the london stock exchange initially jumped around 15% week, the london stock exchange initiallyjumpedrkets are trading. can we go to the second page? no. yes. you only have to ask. it takes time for them to travel across the atlantic. the tech heavy nasdaq not quite doing as well. the pound strengthening against the dollar, a level not seen since mid—july. that‘s all the business news. use tommy gesticulating, i was wondering what was coming next. ben brown is here shortly with the news at five — but first it‘s time for a look at the weather with darren bett most areas continuing dry and sunny through the day, still some cloud through the day, still some cloud through the day, still some cloud through the channel islands and a few scattered showers for northern and western scotland but sunny skies, temperatures 17 in the central belt, 22 in southern england, winds lighter than yesterday and with the light winds and clear skies it is going to get cold very quickly except for scotla nd cold very quickly except for scotland and northern ireland as a cloud increases, the breeze picks up b