ahead, we will be talking about the head of the largest milken summit in singapore.ket reaction from north korea, where we go from here. a new look at how technology might he reshaping your investment landscape in the decades to come with goldman sachs has set management. that is next. this is bloomberg. ♪ ♪ david: this is "bloomberg markets: asia." more on the market as we move into the fourth quarter. ofare joined by the managing fundamental equity at goldman sachs asset management. thank you for coming in. i thought it was going to be quiet. northe to talk about korea, but markets taking this one in stride, a measured reaction. you put out this latest report, will it last is the title. will it last? >> we were trying to help clients understand the growth environment and world capital markets. taking a step back, one of our in a is we would be synchronous growth environment and have all regions of the world going together come and that would be good for risk assets. that has happened. while there are challenging geopolitical headlines, underlying growth has been ro

julia: that was bloomberg talking to milken institute chairman michael milken in singapore. of the headlines with mark crumpton. mark: a search warrant has been granted for a florida nursing home, where a patient died days after hurricane irma. hollywood police say state and local authorities are conducting a criminal investigation to determine what led to the deaths at the rehabilitation center at hollywood hills. >> the initial investigation has determined the facility had some power, however, the buildings air conditioning system was not fully functional. portable a/c units were being used in an attempt to cool the facility. florida gov. rick scott directed the state agency for health care administration to issue an emergency moratorium at that facility. president trump is headed back to washington after he visited florida. he toured damage caused by hurricane irma. it is the third time in three weeks he has visited an area devastated by the national -- natural disaster. he was in naples and 4 -- four miles -- ft. myers. by vicep was joined president pence and first lady

mark: michael milken earlier on the bloomberg.orrow, an exclusive access to a, including interviews with their founder, ceo's -- ceo , global disruptor on friday, 5:30 in new york. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. ♪ live from london and new york, this is the european close . stocks finishing the thursday session higher, a mixed day today and yesterday but we rose today with auto the best performance, european car growth sales accelerated in august as an expanding economy encourage purchases. oil and gas and media among beginners today. the bank of england, further stimulus reduction in coming months. fully pricing in a rate hike in february before the meeting today. 80% priced in and last week, 40% priced i

joining us live out of the milken institute summit in singapore is the chief strategy officer of antinancial. a good morning to you from hong kong. just a quick back around of ant financial. you have such a large customer base, obviously given access to alibaba. talk to us about how you are changing financial services experiences for your customers there. tell us about the progress you have made. yes, what is special about ch is scalability. china has become a lifestyle. the financial services to do so many things. they can do online shopping. they can go to restaurants, book soels, transportation, etc., in this sense, we think it is a more advanced stage of fintech, a seamless combination of financial services powered by technology. in the past several years, in addition to alipay, we have more than 520 million active users, but in addition, we started in microloans toe more than 7 million small and medium enterprises and startups. in addition to that, we started to work with phone companies to provide reduced rates. david: we are looking at a lot of harvests in a lot of areas. you

we're live at the milken summit in singapore.he next hour of "daybreak asia ," michael milken joining the conversation at 9:10 sydney time, just after this commercial break. this is bloomberg. ♪ -- cioi: we will speak with a at 11:10. 9:10 if you are catching it from hong kong. this is bloomberg. ♪ ♪ betty: we are counting down to asia's first major market open. japanese futures are looking at steadily higher after the rally we saw in the u.s. this is "daybreak asia. " i am betty liu in new york. haidi: i am haidi lun in sydney. a flat open in sydney. let's get the singapore where the milken institute summit kicks off today. hows taking a look at changes over the past 20 years could shake the region's path to 2037. amin get to work haslinda -- to haslinda amin. there is uncertainty in the next 20 years. what that means for jobs, where will the jobs being? they will talk to us about the next 20 years. there is a growing divide between technology and banking. in my conversation yesterday, they talked about how they disrupted the ba

joining us is the managing director or of research at the milken institute.iving the move here this year? think 2-3 key factors. three, least for the top it has a lot of government policy to guide the development in that part of the world. also, comes with some surprise ies with good fundamentals can still claim a good spot. on the contrary, some of the large cities that have in getting a lot of government support have fallen out of the top 10 positions for the first time in the last three years. it says two things come a good policy, good fundamentals, and a desire to tap into global markets would definitely help. moore and portend, good fundamentals is overshadowing policy directions as you noted. road.bout one belt, one how will this distinguish the cities in the years to come? it would come in a big and long lasting way. look at the number three ranked. for people who actually travel to that part of china, they would understand that it is one of the poorest provinces since ancient times, a high plateau. the capital city was one of the laggards in the last

michael milken speaking earlier on bloomberg.or the bloomberg business flash, a look at some of the biggest this next stories. reegle is being sued by th former female employees. there being accused of paying females less than men. two thirds of the workforce and 80% of technical staff are men. china is asking the u.s. for fair and transparent business environment. this is after president trump locked purchases -- lots purchases of a semiconductor because of security concerns. a spokesperson for china's ministry of commerce that the u.s. should be objective and check should not be used as a protectionist tool. had tors to toys "r" us scale back shipments as it struggles to refinance debt and avoid bankruptcy. according to people with knowledge of the matter, they have been in talks with lenders over a new loan that would allow the country -- the company to continue offering through bankruptcy proceeding. that is your business flash update. coming up, what you need to know to gear up ♪ for tomorrow's trading day. this is bloomberg

with michael milken a truck silver alum there and the spread she was available on everyone's desktop the new computer revolution and you could go down to mike milken's desk and he'd say i want to take over let's say r.c.a. was bought by general electric or with general electric buck r.c.a. and or you know michael milken you had all the corporators ron perlman you know carl icahn and they they borrow money against the assets of the company that they're going to acquire that's the collateral for a loan they say this company is worth ten billion i want to give me ten billion going to buy the company and i'm going to take that ten billion and i will start selling stuff off to pay back the loan right that's a leveraged buyout so they've been active ever since the what what the deal is that basically the private equity firm in the case of toys r us they acquired the company with a loan and then they pay themselves a multi-billion dollar dividend. essentially extract. cash and the bird in the come i'm going to go over the debt i'm going to go over the details but i just realized well you're

street bankers could have spreadsheets on their desktop and be leveraged buyouts take it down to mike milken and ducks a barn. bear and raise all the money they needed to take companies over during the hostile raiding era of the gogo nine hundred eighty s. that's when computers became a factor in the one nine hundred seven days the fears were not there but again so here we have a situation where you know it's a mystery people are confused they're a mystery they can't understand and relates i think to gold here's another headline about the mystery that is gold gold is shaken by a mysterious two million ounces trade so this happened last week but they important thing about this as not a headline from data it's not a headline from any of the gold bugs it's a headline from bloomberg news and this was the day that janet yellen was like twenty minutes away from speaking at jackson hole and she might have leaked something to one of the participants there because so much for a quiet friday and late august after weeks of relative slumber gold traders were rudely awoken to a surge in volume and volati

street bankers could have spreadsheets on their desktop and be leveraged buyouts take it down to mike milken and that's a barn. bear and raise all the money they needed to take companies over during the hostile raiding era of the gogo nine hundred eighty s. that's when to puter became a factor in the one nine hundred seven days the fears were not but again so here we have a situation where you know it's a mystery people are confused they're a mystery they can't understand it and relates i think to gold is another headline about the mystery that is gold gold is shaken by a mysterious two million ounces trade so this happened last week but they important thing about this as not a headline from data it's not a headline from any of the gold bugs it's a headline from bloomberg news and this was the day that janet yellen was like twenty minutes away from speaking at jackson hole and she obviously might have leaked something to one of the participants there because so much for a quiet friday and late august after weeks of relative slumber gold traders were rudely awoken to a surge in volume and vol

street bankers could have spreadsheets on their desktop and be leveraged buyouts take it down to mike milken and that's a barn. bear and raise all the money they needed to take companies over during the hostile raiding era of the gogo nine hundred eighty s. that's when to puter became a factor in the one nine hundred seven days the fears were not but again so here we have a situation where you know it's a mystery people are confused they're a mystery they can't understand and relates i think to gold here's another headline about the mystery that is gold gold is shaken by a mysterious two million ounces trade so this happened last week but they important thing about this as not a headline from data it's not a headline from any of the gold bugs it's a headline from bloomberg news and this was the day that janet yellen was like twenty minutes away from speaking at jackson hole and she obviously might have leaked something to one of the participants there because so much for a quiet friday and late august after weeks of relative slumber gold traders were rudely awoken to a surge in volume and vo

milken of milken institute. this is in singapore. this is bloomberg. ♪ >> three separate devices.e calling it iphone. today, today apple is going to reinvent the phone. francine: three separate devices, and now we wonder why our iphones don't make coffee for us. latewas, of course, the steve jobs introducing the first apple iphone at macworld back in 2007.fast-forward to 2017 and iphone has unveiled the iphone x, one decade after it first launched the iconic device. joining us now is adam satariano and still with us is jean boivin. how many people are going to buy it? >> um, a lot. the price range here is interesting. apple also lower the price of the device on the lower end. so, they actually have a very big spectrum. the top of the line model look at the most press and people will have to think about how badly they want the visual recognition technology to unlock their phone and the augmented reality, but just love that is the iphone 8, which which is a step up from the one that came out before. francine: the share price is actually a significant because i am looking at an apple

today, we will talk to a chief economist at the milken institute about his reaction to today's jobs reportcan catch all of our interviews on the bloomberg at tv . to check that out. this is bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. i'm julie chatterley. lisa: i'm lisa abramowicz. welcome to "bloomberg markets." julia: we are live and bloomberg world headquarters in new york. here are the top stories we are covering on the bloomberg, and around the world. , saying we love dreamers, we love everybody. we will have more on pressure from republicans and business leaders not to scrap an obama era immigrant program. and, i jobs report. s gary cohnouse' says wages will rise. one of the most important petrochemicals on the planet is is suddenlys short in shorts of tha

i mean, your pedigree or a guy who worked with milken back in the drexel days and with canyon capital, the hedge fund. what is this exactly that you've doing now? >> let's is that right by acknowledging as a country we face some daunting challenges in the areas of education, in health care and in housing and the environment and that our reliance upon the government to tackle these issues over the last decade or centuries has handicapped our outcome. social impact investing which is a strategy i adhere to harnesses market forces to attain profitable solutions >> so in other words, making money and doing good at the same time is sort of the overarching theme that you now run your professional life by. >> that's right. there's a symbiotic relationship for the vast majority of my career i was a philanthropy and capitalist and struggled as both i struggled from the moral discomfort of making money off of other people's misfortunes. as a philanthropist i struggled with an emotional discomfort with making money by throwing money at other people's misfortunes. i evolved many years ago and can

milken overichael said thisfew days ago is their golden age for private equities. we setting ourselves up for so much money in the market with no assets to the value it? wes: i think there's too much capital and few opportunities, if you take companies over, it brings in a lot of good processes, right sizes them, grows them. the performance of the asset class over the last 20 years has been terrific and i see no reason why it shouldn't continue to be terrific, but there's definitely too much money on too few deals. thed: we've got to talk of bubble for you guys get out of here. you bought milwaukee of few years ago. there's a deal that went down for the rockets which was a little bit more than $550 million. i will because -- marc, start with you. is that a change in the nba or a difference in the markets? it is a mixture of both. i don't think ours is worth 2.2. i think is probably 2.1. [laughter] marc: it's all positive news regarding the nba. you got more people who want to watch it. every year they are setting records. you've got a great tv deal and i think that