haidi: haidi: paul allen -- haidi: paul allen with the latest.nd z has confirmed that wednesday's rate decision will go ahead as planned. as the lockdown prompted some to treat the expectations of a hike later, our next guest is sticking with that call and said the new zealand chief economist joins us now. great to have you with us. it was an extraordinary day when it comes to money markets for new zealand yesterday. we saw a 1% drop in the qe as a result of this one case. let me throw out this bloomberg chart, taking a look at what the november implied rate signals for what to expect for the rb and said going into the end of next year. it is pricing at least two rate hikes before the end of this year but we saw the expectations for this week's decision falling from 100% to 60%. bloomberg economics says it would be a mistake to go today. is there a case for prudence here? >> there is in the market pricing of 60% chance of a hike is fair. we are over the line because the reserve bank tend to respond to what they know. of course, it is changing on

paul allen joins us now with more. improved set of numbers but still no dividend. e recovery path -- what does the recovery path look like? paul: things have been troubled for amp but these numbers were ok given the context. underlying profit of 181 million aussie dollars. that was an improvement of 57% on the same period a year ago, a revenue of $1.71 billion, down 5% on year. there was no dividend back in february given the trouble they have been having. that is not surprising either. they were one of the hardest hit companies from the royal commission investigation into misconduct in the banking industry and there was an internal sexual harassment candlewick laid bare all sorts of cultural problem inside the company as well and that led to an exodus of management including the ceo. this is the first set of results under his replacement. a deal to unload the whole company fell through. making strong progress, allowing them to run as their own private business. a relisting in the first half of 2022, expected. shery: it is a busy day on earnings. how did the numbers

paul allen joins us now. i can almost see the collective sigh coming from our melbourne colleagues. will get to melbourne in a moment but i will start in sydney. 262 cases reported on thursday, the worst day since the pandemic began. five deaths and the premier pointing out that among the 21 dead from this outbreak, none of those were fully vaccinated, underscoring the importance of vaccines, but the virus now spreading in the state. there was a party attended by a teenager in sydney further up the coast so the virus has found its way into newcastle. getting back to victoria, lockdown number six and this is all because of two mystery cases . the premier looking at the experience of new south wales and how quickly things got out of control here, the setting to go hard and go early but that decision sparking protests on the streets of melbourne. police being called to break up hundreds of protesters late last night. interesting development today from spc, a fruit and vegetable company which announced it will be mandatory for all of its employees to get vaccinated. that created some bac

paul allen joins us now with more. what are we expecting? it could be one of those reads that looks ok on the surface but then when you look closer, it starts to get uglier and uglier. the expectation is for the headline rate to go up from 4.9% in june with 43,000 jobs lost. bloomberg's own economist, james mcintyre, has a different view. he sees the on employment rate improving through 4.5% but with 50,000 jobs lost so that this can out -- the disconnect is for the participation rate, which is declining, was expected to decline, and that would juice those numbers temporarily. the picture for august is likely to look worse still. sydney in its eighth week of lockdown. restrictions are slowly getting tighter. we have 600 33 cases of covid yesterday and the government today saying there up to 4000 unlinked cases in the community so that suggests cases will continue to rise while lockdowns will continue to remain in place, and that will put pressure on the jobs picture. shery: what is the rba saying about these lockdowns? paul: at the moment, st

paul allen is here with more. i'm starting to lose count of these lockdowns. hat there were some new people out in the community. paul: week ten for greater sydney and week 12 for the city of sydney. pretty clear that the lockdown certainly isn't bringing case numbers down. the best we can say is it obviously appears to stop the delta variant from spreading faster. other states are having better luck. we had 73 cases in melbourne yesterday but the state of victoria, where melbourne is look at it, looks to extend his lockdown conditions today. that will mean the much cherished grand final four football will go elsewhere for a second year in the row. a few bright sides from all of this. straley's carbon emissions dropped 5% -- australia's carbon emissions dropped 5%, the lowest from 1990's. but the spread of delta has really lit a fire under the vaccination rate. now i 36% in new southwest. 34% and the rest of the country, and that is going to be the path out of the lockdown. to answer the question the federal treasurer making it very clear yesterday that once va

paul allen is here, joining us now with more. downs enough to bring the delta variant of covid under control given the lack of success we have seen in australia, for example? paul: there was a covid zero approach right here and the experience suggests it does not contain the delta variant and even the experience in the past few days in new zealand also suggests know. there was not global incredulity when the permanence or announced but country was going into lockdown with just one case. now, there's 107 with 35 new cases reported yesterday so it illustrates how quickly the delta variant spreads. the health minister was saying that all of our existing protections are looking less adequate and less robust and at some point in the future, the country will have to open up. just a few hours later, his own prime minister appeared to contradict him, saying elimination is still the right strategy for new zealand. >> cases may continue to get worse before they get better. i know we are all prepared for that. that does mean that the safest

i am paul allen in sydney. sophie: i am sophie kamaruddin in hong kong. down to asia's major market opens. shery: i am shery ahn. our top stories this hour. explosions outside kabul's international airport kills at leasfg

i want to bring in paul allen who will have more on this. we are just hearing a lot of people say that covid zero is no longer a reality we can get back to. >> that is right. delta has really changed the game. those days of zero cases seem to be long gone. getting this outbreak under control in sydney is a record. tougher restrictors -- restrictions are coming underway. masks are mandatory outside. people are getting very weary of this. police are trying to crackdown. they are issuing fines. there were huge protests in melbourne over the weekend. the silver lining to all of this is the vaccination rate is increasing extremely quickly. there were 45,000 shots give on sunday. that is about two jabs every second. here is what brett had to say about that. >> i want to think the residents of new south wales. i am advised that new south wales is now amongst the highest if not the highest in the world in terms of it -- in terms of evacuation rates. >> 30% of the population is fully vaccinated. the government is making it very clear that it is not s

paul allen joins us with more. ctations are growing they are looking to sell off those assets, so what are we looking at? paul: this is a report that spoke to people familiar with the matter. shares will be offered for that business and those shares will be passed to shareholders. the talks are ongoing, but there is nothing agreed and we haven't had official comment from either side at this stage. it's not a huge surprise. there have been rumors something like this would happen. they have been pressuring bhp for some time. bhp will have something to say when they release results to borrow and we might hear a little more than. shery: bhp's petroleum division is still profitable. why look to sell now? paul: it does make money. it has assets in australia, trinidad, to blago, -- trinidad, tobago, but some of those assets, particularly the australian ones are getting older now. when you combine that, they say they are looking to get out of this before becomes impossible to get out of it. this would make woodside the bigg

let's get the details from paul allen. what do we know? lues after pay at about $29 billion. currently trades are just over $96 per share. this deal would value the company around $126 per share, a pretty healthy premium. after pay seeing some staggering growth in 2021. sales up almost 102% in the past 12 months. shares up about 45% as well. the afterpay founders saying by combining with square we can further accelerate our growth in the u.s. and globally. also gives them a chance to expand into consumer lending, something they do not currently offer. shery: any idea on the timeline of this deal? what happens next? paul: it is expected to close in the first quarter of 2022. we are going to learn more in about 10 hours when square will hold a conference call to discuss not only this but also its second-quarter results. jack dorsey issued a few lines saying square and afterpay have a shared purpose and together we can deliver even more compelling products for merchants and customers. square plans to integrate afterpay into its existing units.

david: that was paul allen speaking with brian gu. comes to this earnings season in orders, yes, it is the numbers but it is also supply chains and inventory numbers not moving. this is a great cha chart of auto industry numbers. inventory levels are just building up and piling up and staying there and they are not being able to move that. it takes all the way back since records were kept in the 1960's. supply chain is what we're seeing here. rishaad: let's get our guest, toliver ma, securities co. analyst at guotai junan . welcome. toliver: electronics and pc's get more demand. last year with work from home and also the shutdown. a lot of cheap demand have moved to these telecommunications company. and hotels last year because factories shutdown so the demand has dropped down significantly. the supply cannot go back to them because it takes a long time for them -- for the customers to order. so last year until now, there is a huge supply gap. yvonne: are you expecting for the fallout from the chip crisis? toliver: the good news is i

paul allen joins us with a little bit more nuance. en it comes to after pay, not all investors are happy with this decision. paul: no, and the same could be said of square. broadly, this was welcomed by both the market and investors. we saw square up 10%. after pay, of 18% on the news broke on monday. there are some skeptics in the crowd. pepper sander was not enthusiastic about afterpay's valuation when you look at the guidance on revenues. other skeptics were surprised that squared and not just develop its own platform, considering its history of innovation, rather than splashing $29 million on afterpay. this was welcomed. we had rbc capital markets saying after pay's buy-now-pay-later platform will be a killer app for square. jack dorsey was certainly talking of the synergies between the two companies when he put out a statement yesterday. barclays is also saying this will help strengthen the seller and cash ecosystems. shery: does this mean this could be the start of some consolidation in the space? paul: but will definitely be som

i am paul allen in sydney. >> i am sophie kamaruddin in hong kong and we are counting down to asia'sopen. beau: the top stories this hour, explosions in kabul killed 12 u.s. service members and at least 60 africans. es

i am paul allen in sydney. sophie: i am sophie kamaruddin in hong kong. we are counting down to asia's major market opens. shery: i am shery ahn. our top stories this hour. explosions outside kabul's international airport kills at least 60 afghans. president biden says the u.s. will retaliate. investors eyeing cues from the jackson hole symposium. three policy hogs urged the central bank to move quickly on tapering bond purchases. asian stocks eye a cautious start on the geopolitical tension following the afghan blast. it was about fed officials talking today including robert kaplan and jim bullard, talking about fed tapering and how we should be starting to move more quick lee. esther george saying the risks from delta do not alter the taper urgency and it is important to get darted while scaling back bond buying but when it came to the market moves for today, it was really interesting that it was the afghanistan headlines that have not moved the market that much in the past that really made an impact on asset prices. paul: the situation in afghanistan d

said at the university of washington, working on stem cells and neurological disorders, to the paul allen institute to define at the human brains'aging at the cellular level. this week i read an npr article highlighting some similarities between long covid symptoms and those of early alzheimer's and raising the question about whether there could be a common pathway, for example, genetic studies are seeing that some of the same genes that increase a person's risk for getting severe covid are also associated with a risk of developing alzheimer's. this is scary, particularly as long covid affects young people, including children. we are already seeing this explosion of alzheimer's cases in the baby boomer generation. so, i was wondering if you could tell me if we know anything more about this? enlighten us with anymore research in this space and whether we see these kind of manifestations in children with long covid? dr. hodes: that is an important question and we hope to get data in from a study which congress has funded. we will be studying tens of thousands of people who had covid and to

ok, i want to paul ok and come back to how we get policy change in a minute. i'd like to come back to you, mister allen. the report says that humans are unequivocally to blame for what we're seeing, but does, encouraging people to get engaged in climate change on an individual level. will that make enough of a difference or does it need to be stopping those big misses at the top? does it need to be only policy down if you know what i'm saying? well yeah, so you get to the point. so in terms of individuals, sure, people can see what's going on in terms of the climate change and see the science. and they can take various actions themselves, but if everyone does a little bit unfortunately, will achieve only a little bit. so everyone needs to do a lot in the only way that can happen is for governance for cities, the companies to take leadership and cause large sco and rapid reduction in carbon dioxide emissions. mr. burke, we should talk about opportunities to address climate change. what are some of the most obvious opportunities that are out there right now in terms of building for a better future? i'm t

mary allen davis, miss kirchbaum, i have paul oh, who took my place at kirkland. you know, i -- the employees that i worked with, operators are very important, mechanics are very important, and the cable car shop, i just commend them for this because this is very unexpected, and this is a great treasure, so thank you, all, and, you know, once again, i'm very appreciative of this. [applause] >> and on behalf of the board, thank you so much for your service and thank you for all you've done for us. >> you're welcome. you're welcome. >> thank you, director kirchbaum, along with mr. kibble and mr. stanbury. we now return to our regularly scheduled director's report, where we've got a lot to update you all on. first of all, our full vision zero report. on july 29, we did have a hit and run fatality involved a motorist and pedestrian on treasure island, on treasure island and mckella roads. we have been conducting six motorcycle practical skills training courses in june and july in partnership with the san francisco police department. just a reminder that motorcycle rid

mary allen davis, miss kirchbaum, i have paul oh, who took my place at kirkland.now, i -- the employees that i worked with, operators are very important, mechanics are very important, and the cable car shop, i just commend them for this because this is very unexpected, and this is a great treasure, so thank you, all, and, you know, once again, i'm very appreciative of this. [applause] >> and on behalf of the board, thank you so much for your service and thank you for all you've done for us. >> you're welcome. you're welcome. >> thank you, director kirchbaum, along with mr. kibble and mr. stanbury. we now return to our regularly scheduled director's report, where we've got a lot to update you all on. first of all, our full vision zero report. on july 29, we did have a hit and run fatality involved a motorist and pedestrian on treasure island, on treasure island and mckella roads. we have been conducting six motorcycle practical skills training courses in june and july in partnership with the san francisco police department. just a reminder that motorcycle riders ac