let's get more with paul allen. what were the key takeaways?e key takeaways are so passing through right now. you covered some of the key ones. maybe could have hoped for better after the blowout first half when we got a huge return. the momentum continue for qantas, but no dividends. qantas planning a buyback of 500 million as well. qantas did purchase already 161 million worth of shares. the bipap expected to continue. revenue 19.8 billion. pretty much in line with estimates. if you take a look at shares over the past year, up 35% year to date. this will be the last set of numbers for the ceo who steps down in november. the cfo will take over. shery: contest profits seem to be gaining the attention of politicians. why? >> alan joyce will be busy next week. he heads to the senate where he will appear in front of the cost-of-living inquirer -- inquiry. he will be quizzed on things like high fares. and why they are so high. a few years ago, they were getting bailouts from the government. now they are doing extremely well and there are questions

paul allen joins us with more. start with fortescue. >> after three months on the job, the cfo is gone and she replace the longer serving cfo who left in january. on monday, the ceo departed very suddenly. they address that on wednesday of this week after getting no real explanation of why she had gone. he alluded to different directions and suggested the more upheaval may be coming in the c suite as well. fortescue spending a lot, but their turnover in the c suite, 11 executives over three years, talks to the lack of direction. shery: qantas airlines being sued for selling tickets on flights that were already canceled. >> there has been outrage and wall-to-wall media coverage. selling tickets on flights i have already been canceled, a thousand flights between may and june in 2022. qantas airlines cap selling them for an average of two weeks after they knew internally those flights would never leave the ground and delayed telling ticketholders about it. they put out a release same happen in 2022. they also cancel u

paul allen joins us for more.e movement for iron ore has been quite bizarre, if you take a look at the chinese slow down. >> the price holding up, still above $100 per ton, because that is important for fortescue, so more sensitive to this price movement than its main competitors, but we are anticipating a net income, $4.57 billion, dividend expected to take a big hit, off by 30%. not only is iron ore fortescue's biggest product, china is its weakest customer, so very exposed to the china story. fortescue shares up 10%, so still outperforming psx, still claiming to be satisfied for shareholders. shery: fortescue has added a new board member as it diversifies away from being a pure play iron ore producer. >> the new board member dr. larry marshall, this is quite a significant appointment. she is the former ceo of the government research party in australia. he has turned that organization around from just being a government research body to have a large scale venture capital fund now as well and is home to a number

paul allen is here with us. get us up to speed. ey were able to reach a deal last week, but at chevron, this was not completely unexpected. discussions between chevron and the unions have been going on a while now, but on monday night, 500 workers at chevron's facilities in western australia voted to strike. that does not mean it is going to happen. there could be a number of stop work arrangements from not performing certain tax all the way through a strike itself, and if any action does take place, it would be seven days' notice first, so the earliest notice for strike action would be september 7, but negotiations are ongoing. chevron for its part saying it is working through the banking process and as we did know, woodside reached a deal, so there is some optimism that chevron will also reach an accord with its programs. rishaad: australia is the biggest lng exporter by some measures, at least. so what happens there can affect what is happening with the global gas markets. what are people telling you about that? paul: definitely.

complex, it's guys who went tome the right private school at the right time and that's bill gates, paul allen in particular, that's how microsoft ended up coming they are not learning to use computers on government machines. they are not going into the military to know what is taking them except for the parent who happened to have the resources to put them into a school that had an unusual amount of access to computer time. that's how they get picked. you talk about the different kind off guy that gets selected and recognized we're talking about guys in the first place and the selection of guys know that this is meritocratic per se. the mode changes that we've seen further farcical position of that change. select steve jobs isrt not a particularly sophisticated technical guy that was lost react famously. it was a he was a guy wht yelling everybody to work faster which was very important job at the time. and continues to be. but the guys now if you look at someone like, i'm greasing names on tv or whatever, the technological elon musk, like no one pretends, knowing them to cast a written this

david: paul allen in sydney there for us with the latest on the strikes. sachs dropping notes alongside these stories, which means -- saying that they could lift prices into 68-69 euros through the winter and summer of 2024. lots of moving parts as far as that is concerned. from that big story, we are now looking at latin america and in case you missed it, the ecuadorian presidential candidate fernando villavicencio has been killed, while leaving a political rally less than two weeks before the vote. let's bring in our correspondent to talk us through this. stephan, get us up to speed, what's happening? what did happen? >> fernando villavicencio was attending one of his campaign events, he was escorted by police and did have security, and a government got close and shot him point blank. there were several other injuries, we are running, including two police officers the candidate running for a national assembly position. the election is scheduled to go ahead in just 10 days. the current president has called in his security cabinet and other officials for a

complex, it's guys who went to the right private school at the right time and that's bill gates, paul allenparticular. that's how microsoft ends up coming. and they're not learning to use computers on government machines. they're not going into the military, no one's picking them except for their parents who happen to have the resources to put them into a school that had an unusual amount of access to computer time. and that's how they get picked. and so you talk about the different kind of guy that gets selected and recognize we're talking about guys in the first place and the selection of guys, right? so none of this is meritocratic per say. the mode changes and we've seen like further farcical of that change. so like steve jobs was not a particularly sophisticated technical guy that was wozniak famously. he was the the guy who was good at yelling at everybody to work faster, which a very important job at the time and continues to be but the guys now if you look at someone like uh i'm going to say names on tv, whatever i'm angered the techno lords. elon musk right. like no one pretend no

i am paul allen in sydney. >> we are counting down to asia's major market opens. >> good evening. i am shery ahn. shery: u.s. stocks fall for a third straight day as a global bond selloff crimps enthusiasm for big tech. sovereign yields extending declines to levels less than during the global financial crisis. >> beijing saying stepped up intervention, but the pboc chiming in to stop the yuan slide. shery: addressing regulatory concerns from authorities including the fed. u.s. futures under pressure early in the asian session as stocks led lower by tech giants like apple, microsoft, all down in global bond yields rising. the fomc minutes looks like tighter policy from here in jobless claims numbers showing a healthy labor market. the bloomberg dollar index took a breather today after five sessions of gains but stayed above the 200-day moving average on the only sector that gained ground today on the s&p 500 was energy with crude prices above $80 per barrel but now in the asian session pressure despite optimism over tighter supplies around the world. take a look at the bond space a

haidi: paul allen in sydney.at what gas futures are doing because we did see volatility in spiking with the woodside news in the deal being made, so it looks like our bracing for price action as we continue to really watch some of the other elements. european gas jumping, chevron receiving the australia strike notice. we saw natural gas prices in the european session surging as the notice was given. benchmark futures up 10%. were seeing gas futures up a tent of a percent in the asian session. watching oil as well. this was amplified by trading as we've seen end of the month pricing action. trading volumes have been waiting in the last days of summer. up attentive 1%, broader concern about deteriorating demand out of china as well. the world's biggest oil importer. watching the australian dollar as we have been rba governor speaking today. upside in the policy as retail sales are beating estimates the world cup effect is taking place as well, sales gain in july reversing the sharp drop from the previous month. on

i am paul allen in sydney. annabelle: i am annabelle droulers in hong kong.e are counting down to asia's major market opens. shery: good evening from bloomberg's world headquarters in new york, i am shery ahn. the top stories this hour. take's birthday in two weeks helps u.s. stocks again as treasury yields go higher and argentinian experts in freefall as a government deals with the political outsiders shaking up the election race. china's property prices affecting the listed industry. shery: we meet a man who could be taiwan's next president. he tells us exclusively how he plans to reassure voters and maintain peace. u.s. futures coming online slightly higher in the asian session. this, of course, after we saw u.s. major benchmarks gain ground, tech leading the gains. it was a low-volume session, not surprising given that august is a slow month, but a small tin can make a big difference. the russell 2000 of smaller stocks fall into a one-month low. also watching treasury yields. we have corporate bond sales weighing on prices. the 10-year yield at 4.2%, whic

paul allen joins us now with more. this fits broadly into the australian and pacific direction. nd? paul: the purpose of this review is to pursue and protect new zealand's interest in the pacific and wants to have a combat-capable defense force. hang on, shouldn't your defense force be combat-capable? in the case of new zealand there has been a slow erosion. 20 years ago the combat air wing was disbanded. the surveillance p3 orions were retired. three navy ships are currently idle because of not enough staff. the two frigates new zealand has, i went on a sea trial of one of them 26 years ago, so they are getting pretty old now. the military is not in a fit state to respond to challenges. cyberattacks, this information, confirmation -- competition in the region. kathleen: how does this strike a balance between -- paul: the review is not shy about calling out china by name. t very diplomatic language usually but not in this case. notes the significance of the relationship with china, that cooperation is essential, but the chinese government's assertive pursuit of objectives is a ma

paul allen joins us from sydney with more.prime minister doing to rally support for the indigenous voice to parliament? >> the prime minister spent the weekend in the northern territory, he got a warm welcome and he said this is not going to be delayed or deferred. the government will not kick the can down the road, his words, when it comes to the indigenous voice to parliament. what is it? it would embed an aboriginal voice in australia's constitution and create an advisory body which would give feedback on policies that affect the indigenous population. i think you will find few people in australia that would disagree that something needs to be done on this. aboriginal australians have shorter life expectancy, worse health outcomes. a young aboriginal is more likely to go to prison that attend university. there is strong support for the idea of a voice to parliament in the early days but it has been steadily ebbing away over the past few weeks. in february it was 56% support, now in july or last july there was 41%. the trend

we are joined by su keenan and paul allen. i want to start with you.ongoing concern but it has heated up at a time when oil prices are important in many ways including to inflation and all the rest of it. >> heating up because of what's going on in ukraine. you drop it in the bloomberg and what we see is west texas jumping to the highest in nine months before trading just a bit in asian trading. a lot of this has to do about concerned that the possible escalation of the conflict could choke off more supplies in an already tightening market. what we saw was west texas rising above 84 before pulling back just a bit and that increases bites the latest u.s. inventory data which showed an increase in inventories which would normally be bearish but investors chose instead to focus on the decrease, the following crude products which fell the most in three months. analysts say it's the market tightness narrative. conditions and the black sea are adding to that. the latest threat to supplies is the risk to russia flows from the black sea from various attacks. w

i am paul allen in sydney. annabelle: i am annabelle dollars in hong kong. shery: the top stories this hour. a risk of open ahead as blake's u.s. signals complicate the picture of the next fed move. goldman sachs selling in a rate cut for the second quarter 2024. >> china's economy showing few signs of a rebound. suspending trading monday on almost a dozen onshore bonds. shery: in winners erased the bulls closing in argentina's national elections. u.s. futures coming on higher in the asian session after a very volatile friday session closed at a one-month low for the s&p 500. it was a really choppy trading session. really close to the 50 day moving average that could signal more losses. we are seeing more upside in the asian open for u.s. futures after the nasdaq 100 notched its longest weekly losing streak this year already. of course investors are really trying to digest the mixed economic picture with easing inflation worries and consumer in flood -- expectation falling and producer prices growing last month. we had that really pressuring the treasury spa

paul allen, bloomberg, sydney.well, for more on spain's win, we are joined by bloomberg's maria tadeo. i promised we would bring you back. you are here to rub salt in my english wounds. you must be over the moon. maria: look, i said it on the friday, i would be here on the monday because i was sure -- beyond the fact that you support your country and that is natural, when you look at football, you have to look at the stats, and i do. i look at shots on target, passes, possession, and overall, spain looks like a stronger team. i said i would be here on the monday and here i am. it is a win, a great moment. it is a great moment for female sport. even diplomatically, i would say spain won on that front because the queen of spain decided she would fly all the way out to australia. yesterday, she was celebrating on the stadium that win. the u.k. royals obviously did not go so make of that what you will. the only negative spot has to do with the head of the spanish football federation who is in trouble this morning becau

shery: paul allen joining us from sydney.we are following in australia is wesfarmers. they reported a full year of net income just under 1.6 billion u.s. dollars, that's an almost 5% increase from one year ago, there are interested in retail, e-commerce, mining and insurance. the company says it expects elevated inflation and higher interest rates to continue impacting demand in australia. we have more to come on daybreak. this is bloomberg. ♪ ♪ (upbeat music) ♪ ( ♪♪ ) woah. ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. haidi: leaders have top oil exporters of saudi arabia and five other countries to join their block is part of efforts to expand their global influence. bloomberg's jennifer reports from their summer -- summit in johannesburg. jennifer: the 15 bricks summit culminated in an official announcement by the leaders about expansion. six countries were invited to become members. they inclu

i'm paul allen in sydney. i'm annabel ruelas in hong kong. we're counting down to asia's major market opens. good evening from bloomberg's world headquarters in new york. i'm ryan. the top stories this hour, us stocks slide into the close on bets an improving economy will keep rates higher for longer. dollar strength sinking apac currencies to this year's lows. china said to mull cutting stamp duty on stock trades as defensive reaction to a surprise rate cut shows president xi facing more tough choices. plus, decision day for the reserve bank of new zealand with cooler inflation and higher unemployment supporting another hold. us futures coming online in the asian session, we're seeing a little bit of a muted picture after stocks fell in new york. we have the drop deepening in the final hour of trading. investors really trying to digest those stronger than expected retail sales and also more hawkish fed speak. we had financials being weighed down. a warning from fitch that they might be downgrading larger lenders, also weighing on sentiment,

. >> governor powell allen in sydney, -- it is paul allen in sydney, i'm not inviting you to talk about but it is weak at the moment. mostly due to forces beyond your control, of course. do you see and inflation risk coming from weak currency? >> yes. so all currencies are weak, the u.s. was strong is the story, i think the challenge here is not just what the exchange rate is, but why isn't there what does it reflect? on the view of the view of weekend global commodity prices and a narrow interest-rate margin we can comfortably explain why the exchange rate is at the moment. it's not unusual, given the economic drivers that are there. whether it is inflation or not really depends on what is the weaker exchange rate reflected. does it reflect weaker global earnings because of commodity prices for some kind of portfolio shift? it's not as simple as just looking at the label and is that inflationary or not, it's about what are the drivers underneath. for our projections we deliberately provide a straight line with the extreme rate -- exchange rate, and we look at monetary policy, asking ca

paul allen joins us with more. paul: this is it.ast set of earnings we will hear from alan joyce before he rides off into the sunset in november to be replaced by cfo vanessa hudson, but what a way to go out. qantas is back after the pandemic. revenue has pretty much doubled. that's the first full year profit since the pandemic as well. still no dividend, though. the last dividend we saw was december 2019 just before the outbreak of covid-19, but the buyback was extended another 500,000 aussie dollars. qantas biting planes as well, 24 wide bodies, 12 boeing 787's, 12 airbus a350's. >> is not one of the reasons why it is gaining the attention of politicians right now? >> yeah, qantas is in a weird position. they got some bailouts during the pandemic, but now may be doing a little too well. alan joyce being summoned to sit in front of the senate to explain why airfares are so high, among other questions as well. were the bonuses paid to alan joyce and others at the expense of passengers? competitors are also accusing qantas of anticom

haidi: bloomberg's paul allen.d with corporate news, after announcing record profits, ubs outlined as cutting targets. speaking to bloomberg, the ceo said that steps included 3000 job cuts in switzerland over the next few years. >> our industry is very difficult to restructure and the deep restructuring is necessary at credit suisse without going through people in that count. having said that, there was a big element of the cost, driven by real estate planning, legal entities, and by i.t. platform shutdowns. on the account front, first of all, we are counting on natural attrition and on retirements, at a long-term ability, and shifting to our permanent external account ratio. and of course, we will have to take some actions in redundancies in the years to come. >> dalian switzerland? >> no, -- mainly in switzerland? >> no, i think it will affect our entire workforce. in switzerland, we expect a proactive round, and around 3000 jobs will be made redundant over the next years. 1000 are part of our decision to integra

. >> paul allen there and sydney. lots more to come on "daybreak: asia."oomberg. ♪ fabulous surroundings... but everyone's looking at their phones for financial insights from merrill. is he hailing a ride to the concert hall? no. he's making sure his portfolio and retirement plans work in harmony. they want to adopt a child and build a new home. so they're talking numbers with their merrill adviser. she's not researching her next role. she's learning how to handle market ups and downs without the drama. personalized advice so impressive your money never stops working for you with merrill. a bank of america company. >> the first active exchange traded fund will be launched in september by nomura, but the boj unlikely to participate as they reduce etf purchases. we now have the latest. rebecca, what is this about? rebecca: japan launched the first ever actively managed etf fund the seventh so there will be six new etf's across three issuers. and so, in terms of actively managing them, this is the first time japan has had an actively managed etf. japan ranks

haidi: paul allen there with the latest and we are still waiting for those numbers from fortescue intime let's take a look at these markets. a lot in terms of what is happening in the last few days for asian investors to be white -- waking up to and digesting. annabelle: and really the weakened announcements that came through, for instance cutting the stamp duty on stock trades and lowering things like margin requirements, regulators as well saying they are planning to slow the process of ipos in china. these are some of the announcements that came through from two different regulators in china over the weekend. you can add to that the evergrande earnings as well, the company applying to resume trading monday. there is a lot today for china stocks. when you take a look at the underperformers that we have seen for mainland equities it points to why there is so much pessimism and concern from regulators because if you take a look at that other chart, this one as well, just showing the msci china versus the s&p 500 index. that underperformance we see there is now the widest cap since 20

allen. thank you so much. >> thank you charles. >> joining me now is former federal prosecutor, my friend and colleague, msnbc legal analyst, paul butler. he is a professor at georgetown school of law. and the author of the book chokehold, policing blackmon. also with us is danny so fall, is another one of my treasured colleagues. he's a criminal defense attorney, cofounder of snowfall is -- also an msnbc legal analyst. super excited to talk to two of my favorite lawyers. let's get right into it. paul. the defense invoked this first amendment argument as part of its strategy yesterday. but that is not with this case is actually about. tell our viewers how the protective order actually is going to help ensure a fair trial going forward? >> so you're right charles. this case isn't about what donald trump said, it's about what he did. the judge is a former federal, actually state prosecutor. a state public defender. she was very fair to donald trump, like she is to every defendant. but she made it clear that she is not going to put up with this typical stuff. so she went along with this protective order, and at the defense request

paul, bazzle, thank you so much for being part of our coverage today. another break for us. we'll be right back. don't go anywhere. we'll be right back. don't go anywhere. ay ticket. (josh allenplan from verizon. (vo) for a limited time get nfl sunday ticket from youtubetv on us. a $449 value. plus, get a free samsung galaxy z flip5. only on verizon. i want my daughter riley to know about her ancestors and how important it is to know who you are and to know where you came from. we're discovering together... it's been an amazing gift. ♪ shelves. shelves that know what taste buds want. shelves smart enough to see, sense, react, restock. ♪ so caramel swirl is always there for the taking. when i first learned about my dupuytren's contracture, my physician referred me to a hand specialist. and i'm glad he did, because when i took the tabletop test, i couldn't lay my hand flat anymore. the first hand specialist i saw only offered surgery. so, i went to a second hand specialist who also offered nonsurgical options - which felt more right for me. so, what i'd say to other people with dupuytren's contracture is this: don't wait —find a hand specialist trained in nonsurgical options, t

like apparently lots of people like that's paul from plymouth and i was email was not expecting this email from viewers. steve from one of our viewers. steve allen, i feel sad. >> i would find angela >> oh, i would find angela rayner a very attractive woman. i do find her if you're looking at me with interest, i mean i would speak to her personally a number of times. our guest here to the left hand side is probably shivering at this because conservative because matthews, a conservative councillor. talking councillor. but we'll be talking to very shortly. but to him very, very shortly. but she's tremendous personality she's got tremendous personality , a tremendous as well, you know. >> sure, that's what draws lots of people to her. anyway, we are talking about the cast being revealed for a new television dramatisation of partygate . it's dramatisation of partygate. it's going to tell the story again of those notorious gatherings inside number 10 during the covid lockdowns. you watch covid lockdowns. would you watch it? not sure it's for me. it? i'm not sure it's for me. >> yeah, would it. >> yeah, i would watch it. >> yeah, i would watch it. >>