that is the takeaway on the outlook for novo nordisk. economic, national council director larry kudlow joins us live following the release of the latest jobs report. do not miss that at 1:30 p.m. u.k. time. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe." i am nejra cehic in london. bloomberg intelligence estimates it will take 7 million vehicle sales for the market cap a $47 billion. fiat has increased in value since the deal was announced on tuesday. smaller firms involved estimated to split as much as $90 million in fees. ,oining us is stephen reitman european automotive analyst, societe generale. let's talk about the merger first. how much of a likelihood is there that it goes through? stephen: a good chance that it will go through. previous talks stalled, but in this case there is a more clear path to success. the share reaction in prices yesterday, the divergence sense ofiat give you a the acquirer. is this a better deal? stephen: there was an arbitrage opportunity for investors, they could see they would get more.

hearing the results now it's been very quiet tonight and not that many people as far as i can tell novo people trying to be optimistic try to stay optimistic with the exit polls coming up looks like they're really not that happy about what they're seeing here on the strains and indeed it will be a lot more complicated for prime minister interim prime minister pederast son just form a government he was banking on getting the highest share of the vote to be able to have a more stable basis to form a government but it will be very complicated for him now to come together in a coalition is something with which the spanish in any case don't seem to be very good at all and there you mentioned i mean progress in the performance of this far right of vox party following their search last time tell us more about verma why people are turning to them. vox is a far right party running on and the immigrant and the film and his platform there peeling to this this feeling of national pride national spanish pride going back to the franco era so to say and reviving old spirits and saying you know we shou

. >>> a usted dijeron que si novo larn.do 48 siempre responde. tambiÉn. >>> muchas gracias. consumidores del Área de la bahÍa por confiar en nosotros. >>> pasamos con flabio lacayo. y un adelanto del noticiero de las 6. >>> quÉ tal, buenas tardes. >>> miles de personas transporte pÚblico, sobre todo en la ciudad de san francisco. parsonas se mostraron prda por la seda hablaremos del tema y sobre lo que las autoridades hacen al respecto. a las 6 con el reporte completo. regreso con ustedes. >>> regresamos con la informaciÓn en 2 minutos. >>> noticiero telemundo 48. >>> este su noticiero telemundo 48 a las 6. >>> les saluda lorena domÍnguez. >>> gracias por sintonizarnos. >>> adolescentes estÁn tras las rejas luego de robar una tienda target de freemond. percuciÓn policial a altass y horas de la noche. >>> lo inesperado ocurriÓ en freemond. al intentar huir dispararon con un arma de fuego. >>> contra la ley, no deben hacerlo. >>> habÍa algo similar. >>> no, no. >>> ocurriÓ casi a la medianoche del jueves la policÍa recibiÓ un

this is a de novo hearing, so if the board finds the five findings have been met, that would be up to the discretion of the board, but the planning department, even after reviewing the materials was not supportive of the application. we also used this as an opportunity to review the plans that kind of led us to this place, and i confirmed from the plans that there was no -- you know, no plans had been approved that this included this unit in the ground floor. there were multiple plans from this structural -- their instructal engineer, rodrigo santo, but they had plans submitted with the architectural variance, but there were no plans consistent with mantthat that had not bee approved. we did not have any other issues with the plans that were approved, but we -- you know, we wanted to review that thoroughly, so available for any questions that the board may have, but we would respectfully request that you uphold the zoning administrator's reasons for denial as eloquently stated in that letter. >> commissioner tanner: i have two questions. with this space, so the options would be to --

the suspension. >>. >> commissioner santacana: the merits of the change of use can be reviewed de novo by this board. i think we received 150 pieces of public comment in both directions, so we can consider all of those now rather than in 18 months when this comes back after discretionary review. >> you will consider all the public comment. i know you will do a thorough review and public comment. we think there is a distinction difference between a process that goes to the planning commission and having a hearing here. while the recipients may be the same, it's a different scope of work. so there are some differences. >> commissioner santacana: i understand, but i think process is the topic of the night, so it's a little difficult, i think, to be -- i don't think that planning should be giving lessons on process right now. so what are the policies at planning right now based on permits based on planning's interpretation of the planning code? are there any policies and procedures in place? >> no, that the zoning administrator enforces and interprets the planning code, and when a permit w

but no problems so far northbound are looking good southbound it's at the limit its only 18 minutes novo to the toll plaza we're checkingraffic tracker we're looking at more drive times and were on time for 6.80 south. rowling from pacheco out tdanville the dow martin bridge trouble free and you're loong good on 5.81 on one. it was back in the bay area. it w his birthday, yeah, he turned 32 and guess what he did spent his birthday in oakland, giving back to the community how cool is that. so he hired full to track to help feed the people in need and distribut it bactax and other supplies to loca homeless folks. now most of kaepernick's charity work is done through his foundation know your rights camp. he has not played for the nfl sin the 2016 season of course after kneing during the national anthem in protest of police brutality and of course racism he has come activists since then that's always nice to see him out there in the community still working. >>good job. on the kron 4 ws, a bart worker is being praised for fell on the tracks and open he jumped right in. wel have that story com

the chief executive officer of novo nordisk. it is jobs day.is of the slowing american job economy. we do that on "surveillance." jeffrey rosenberg, we loved him on fed day and we brought him back from blackrock. this is bloomberg. ♪ ♪ this is bloomberg "surveillance." we will have plenty more on the markets and equities and some of the earnings. let's get to the bloomberg first word news. viviana: donald trump has become the fourth president in u.s. history subject to a formal impeachment effort, the house making beneficial with its vote. formove clears the way televised hearings and the release of depositions, and ensures the president's right to participate in proceedings. wildfires still raging in california, but deliberate blackouts are coming to an end for now. the two largest utilities plan to restore power to virtually everyone. down, wind is dying meaning less chance of wildfire will start fires. saudi arabia gradually plans to cut government spending. the finance minister expects private sector growth to pick up. that will not keep th

if this was a de novo type of -- >> if this was the first rather than the 11th, we'd be better off? there's more to be discussed in the context of what we've heard and what it means temperature it may not be comfortable for all of, but the idea of where this goes for now, even though you've checked the most boxes of wrong doing today than to date -- the president says he was cleared today. we'll test that next. it's easy to move forward of, but the idea of where this at fidelity, we make sure you have a clear plan of, but the idea of where this to cover the essentials in retirement, as well as all the things you want to do. and on the way, you'll get timely investment help to keep you on the right track, without the unnecessary fees you might expect of, but the idea of where this . because when you have a partner who gives you clarity at every step, there's nothing to stop you from moving forward. well you remember what happened last year. you can't bring a backup thanksgiving to my sister's house. it's not like we're going to walk in with it. we'll bring it in as we need it. ...pha

we would be deciding this appeal de novo. in light of the supervisors' comments to us, we would be approving this project, but a year would have gone by. so i'm not sure in this situation, there's really any purpose in pursuing 311 even if they thought that 311 was required. so for all of those reasons, i would vote to grant the appeal on the grounds that the zoning administrator acted arbitrarily. >> commissioner honda: wow. similar but different. i think that's what before us, as the public has mentioned, and being very aware of what's in the sunset, i believe the only business that was -- was denied recently was ace pharmacy on 20-something and noriega, which katy used her silver bullet for and brought down. and then, right after, another cannabis dispensary came on and now is open as of last week on irving street and i believe 22nd. as my colleague has mentioned, i also feel that the -- the -- the planning code is arbitrary and confusing. at the same time, as he mentioned, if it comes back to us next year in the same form

the standard review as stated by the attorney is not d e novo for the review. it is improper application of the planning code so that is a slight nuance there. in regards to off-street loading the section does not require off-street loading. this is less than 100,000 square feet of use. there is no requirement of the planning code for that. and although this project has been around since 2014 and the first application actually looking at the history i think more than a decade ago in the mid-2000s, there was another application i think for more, even 80 dwelling units. this was before the eastern neighborhoods rezoning. and actually part of the site is the rear portion which is being maintained as parking is a pdr zoning district which doesn't allow housing but back 15 years ago when that previous project was sought and i don't have any details of what happened to that. obviously didn't move forward. but the whole site would have been allowed to be developed as residential but less can be developed under the eastern neighborhoods plan. although it has been aroun

it could be within the health care space, like novo nordisk. as a business which can deliver high single digit earnings with a relatively low degree of risk, a strong balance sheet, and strong social trends. the global economy is operating at subpar rates where we are concerned about the cycle, political risks, and it seems like a decent out turn to us. if we can deliver a high single digit, double-digit return, we think that looks pretty good. nejra: for a global investor concerned about relative value, how much do you expect europe to over perform next year? guest: europe always has to be a stoxx specific story. in as that, europe is good company as any market. you just have to be selective. i don't see any reason why a well picked portfolio could not do as well from stocks in any other market. nejra: really great to have you with us on the show today. that's it for bloomberg daybreak: europe. the european open is next. we saw a down day in european equities esther day -- yesterday. futures on the back foot. this is bloomberg. ♪ anna: good mo

longtime struggling novo recorded a net loss in the third quarter. of raw materials it handled.ough september. a restructuring caught federal asset class -- were all sparked by a former employees accusations of improper trading. rishaad: starting the rally overnight. this after boris johnson earned a boost to his chances for winning the election. partyer of the brexit said he would not be challenging conservatives. nigel forion by rajeev to help boris johnson could have quite an impact on brexit. >> mr. for us is saying he has esther -- nigel for us is saying contestecided not to the conservative party. this was a worry for boris johnson that the brexit party could take away votes. that could give labor and others a leg up. at this point, that worry appears to be off the table. liker brexit, this seems it would allow them to pursue the goal of leaving for the next deadline of january 31. as we have been through so many of the deadlines over the past three plus years, it has -- it is tough to know if that is going to happen. it does clear way one hurdle that the conservatives wer

agreeing to the -- on agreeing to the speaker's approval of the journal which the chair will put de novo. the question is on agreeing to the speaker's approval of the journal. those in favor say aye. those opposed, no. in the opinion of the chair, the ayes have it. the journal stands approved. the speaker pro tempore: the ouse will be in order. the chair will now entertain requests for one-minute speeches. for what purpose does the gentleman from new jersey seek recognition? >> i ask unanimous consent to address the house for one minute, revise and extend my remarks. the speaker pro tempore: without objection, the gentleman is recognized for one inute. mr. payne: mr. speaker, i rise today to praise my colleagues in this chamber for their support of the low drug cost act -- now act. the bill would make it easier for elderly and disabled citizens to get the life-saving and life-preserving medications they need at prices they can afford. it would finally give medicare the power to negotiate directly with the drug companies to get these prices lower. once they agree on a new price, this bill

business is the question on agreeing to the speaker's approval of the journal which the chair will put de novo. the question is on agreeing to the speaker's approval of the journal. so many as are in favor say aye. those opposed, no. in the opinion of the chair, the ayes have it. the journal stands approved. pursuant to house resolution 695, house resolution 661, and the house resolution 693 are considered as adopted. for what purpose does the gentlewoman from massachusetts seek recognition? >> mr. speaker, i ask unanimous consent that i may hearafter be considered as the first co-sponsor of h.r. 1915, a bill originally introduced by representative cummings of maryland for the purpose of of adding co-sponsors and requesting reprintings pursuant to clause 7 of rule 12. the speaker pro tempore: without objection. the house will come to order. the chair lays before the house a communication. the clerk: the honorable the speaker, house of representatives. madam, pursuant to the permission granted in clause 2-h of rule 2 of the rules of the u.s. house of representatives, the clerk received the foll

business is the question on agreeing to the speaker's approval of the journal which the chair will put de novo. the question is on agreeing to the speaker's approval of the journal. those in favor say aye. those opposed, no. in the opinion of the chair, the ayes have it. the journal stands approved. for what purpose does the gentlewoman from new york seek recognition? >> madam speaker,cy send to the desk a concurrent resolution and ask unanimous consent for its immediate consideration. the speaker pro tempore: the clerk will report the title of the concurrent resolution. the clerk: house concurrent resolution 75, concurrent resolution directing the clerk of the house of representatives to make a correction in the enrollment of h.r. 3055. the speaker pro tempore: is there objection to the consideration of the concurrent resolution. without objection, the concurrent resolution is agreed to and the motion to reconsider s laid on the table. for what purpose does the gentleman from new york seek recognition? >> by direction of the democratic caucus i offer a privilege red lees -- resolution and ask