something qualcomm might have something to say as well.>s that right i am here this morning with something new. >> thank you for coming to qualcomm >> great to be here. irvin magic johnson and more first, i want to talk about some of the things happening in the markets. we've been talking out of the code conference about the china/u.s. decoupling. it seems to me the semiconductor industry has a lot at stake. what is your view of what needs to happen here >> our view remains the same i'd probably like to change the conversation a bit and talk about strategic coupling the united states semiconductor industry, qualcomm is an example of that is a very strong industry and participates in the global market. what we saw as things increased, our position in china improved looking at the qualcomm diversification for example, we are going from mobil and a large amount of partners in china. maintaining the effective position of leadership we have the conversation is more about the strategic elements of the economy and what does it look like and talki

how is it with qualcomm?ristiano: there is a new reality across the board that the percentage of digital component of the economy is higher. we all saw the pandemic accelerated digital transformation in many enterprises and the automotive industry was not immune to that. we are excited about the opportunity. this demand is here to stay. of course, we are short in all technology across our industry. the good news, we put our scale to work. we have been investing with our suppliers in more capacity and we expect supply improvements at the end of this calendar year. we will enter 2022 with a much more balanced supply-demand equation. matt: can i ask you about m&a, your competitor nvidia wants to buy for $40 billion. regulators are concerned nvidia is not going to allow everyone equal access to chip designs and why would they if they are paying $40 billion for it? what are your thoughts on the possibility of let's open on climate? cristiano: we have been very consistent in our position about this, as well as many

i still believe in qualcomm.nt that it has labored because people are worried about apple, i think that is missing the point on many levels. first off, they are not even two years in to a six year deal with apple. number two, it is the patent library that matters for qualcomm apple can go through all the trouble of designing its own chips and trying to work it way out of qualcomm, but you still have the intellectual property that you have to pay qualcomm for. it is taking too long to develop, but i'm not giving up on qualcomm. >> you did give up on intel a while back jenny though did not and intel gets resumed today at goic deutsche bank hold, we're meaningfully dubious that says it all >> i think in that note what says it all is that he says it is a very much wait and see. now, in this -- >> well, isn't he right? >> yeah, for sure. and i think that it is important to understand what wait and see actually means but in this reinstatement of coverage, his estimates are 10% below consensus. that is pretty aggressive

i feel like qualcomm is the forgotten giant.p pat tent liti litigation for a decade. they're out of it and yet they don't get the attention a lot of other companies do, why not and what is it about qualcomm you like right now >> we like they have a great franchise, they're the cuts of the communication part of all cell phones, expanding into automobiles, industrial products you're right they had a good run the last year but nowhere near as much as other semiconductor companies so there's potential to jump aboard 5g is going to be a huge trend you're getting it at about 16 times earnings >> craig i'm going to put you on t the spot because you're good like that. stephanie also recommended prudential as part of her picks. do you have a view kind of -- you referenced u.s. bank corp., do you have a view on prudential new management, kind of a reset for the company. any view on pru? >> pru looks productive as i've looked at the charts, brian and i'll tell you again i like the financial sector to me it looks like we'll see rates work t

cristiano amon, qualcomm's new ceo, wants to change that.ning the company 30 years ago as a young engineer, he was tasked to succeed the former ceo. >> if we were in a battle together, he'd be an incredible sniper shooter. shoot until you run out of ammunition. emily: he got his first

jonathan: that is the ceo of qualcomm.s the ip of qualcomm and we are fortunate to have a relationship with china. that is a pr response from the ceo this morning with matt miller. lisa: dancing delicately at a time, when it comes to both social as well as business interests with china. i understand that. jonathan: we will move on. we will get back to it in a minute. not to the equity markets, yields are higher by four or five basis points. this curve is steeper and it is not just a u.s. centric move pd can see it in europe and over in italy, and there will be a nurse conference -- news conference on thursday right here on bloomberg radio and on tv. this is where are stocks are headed today. steady gains on the s&p 500. what do the stories tell us? >> the data says we could be anywhere at the end of the year and it is specifically the first eight months for the s&p 500 being up more than 20% as it was this year. you have seen it happen 10 other times and it really is kind of a split, a substantial split in terms of gains a

, a broadband chip qualcomm will be providing.s a relationship with globalstar, and the speculation is that globalstar will be a beneficiary of that. tom: look for mark gurman to give you the best coverage not only on apple news, but the apple rumors as well. he is truly on a global basis industry-leading. romaine bostick, "the close" this afternoon. jon wants to talk about callum pickering -- talk to kallum pickering. within the gloom that is out there, particularly the equity market blue, ica vector on jobless claims that is stunning. it is the chart that has the most inertial force in all of my charts. claims are getting better. what does that signal? kallum: the u.s. economy seems to be improving. we had an extremely battered recovery. this is a historic drop off by a historically fast recovery area but we are not falling there yet. the labor market has some way to go. supply issues will require increase in productive capacity, in investment. there's a question around u.s. fiscal policy. how much debt should bite and willin --

you're investing for the long-term and a name like qualcomm is one of the names topping your list. >> is a great technology company, they are in the guts of every cell phone, in terms of 5g, they're also going to be in automobiles and other areas of industrials over the next few years you're buying it 16 times earnings, very powerful franchise, great price. >> another one, you know, we've talked a little bit -- i don't want to call them mid major banks. we've had a lot of people on the show talking about the pnc and truist of the world. you like another game, bank corp., huge company but doesn't get the market attention like the big dogs. >> even the big dogs aren't getting respect these days right now u.s. bank corp. is a top 10 bank, generating great deal of money, diversified, buying at 11 points earnings banks have done well this year we think they have another 12 to 18 months of returns it's recently pulled back, but again, great entry point, good outlook, especially if the economy is improving we do believe interest rates are getting a little bit higher, that will give them tail

. >>> time for a gut check shares of veoneer shooting higher as qualcomm made a binding offer for theompany, which is involved in autonomous driving technology now, qualcomm first announced its bid for the company a month ago, but this latest development could set the stage for a bidding war as veoneer shareholders will meet over a merger agreement with magna international. they released the board would consider both offers to find the best available transaction for its shareholders >>> meantime, private share trading is going public. announcing plans to merge with motive capital in a deal valuing the company at $2 billion. the company boasts 400,000 users, $10.7 billion worth of transactions since the founding back in 2014 joining us this morning forge global ceo kelly rodriguez and motive capital ceo blithe masters. appreciate your time congratulations on this. kelly, for our viewers who may not be well versed in this particular universe of trading, talk about the market transparency, efficiency, costs and where growth is headed >> yeah, well, it is a huge market 800 global unicorns

shrinking in supply to because of energy prices, suppliers in china for apple, tesla intel, in video, qualcomm, an ex p infinity and a s e forced to halt production amid energy crack down. the everything shortage keeps promising to keep getting worse. amid china, as many crackdowns is a crack down on energy consumption, motivated by a slew of reasons, including most pressingly spiking prices for coal and natural gas. particularly liquefied natural gas. china is the 2nd largest importer of l. n. g behind japan, as europe and asia compete for the supply. the supply of l a. n g for november delivery to japan and korea has exploded to $27.45 per 1000000. british thermal units on the 9 backs up from a $6.00 range a year ago. and here's a chart from the c m e group. here's a year ago, and here is now. and that's part of what's driving, what's happening in europe as well, is because right now europe ian prices for l n g are about $1516.00, and it's probably more by the time this air is, you know, it goes up very hourly. so all the l n g, you know, it's going to asia and sad because they're paying ove

also there at the event were the ceos of intel and qualcomm.a's foreign minister says the country is wide open when it comes to normalizing patients with china following the release of two imprisoned canadians. they spent more than 1000 days in solitary confinement intranet accused of spying. it is in contrast to the hero's welcome given after an arrest. scott morrison says states cannot keep or disclose once targets are reached. the coronavirus cases are low, but western austria as been reluctant to up into other areas. morrison says this needs to change when 80% of people are fully inoculated. german exit polls show scholz of the social democrats edging ahead. he was the front runner over the final weeks of the campaign. it indicates the party will win 26% of the vote. the christian democrats are set for 24.5%. both men same -- say they aim to run the country's next scheduled event -- next government. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i a

qualcomm has reported record revenue in the third quarter, and in an up beat forecast. warns the supply of semiconductors is still constrained. so much focus on the semiconductor supply issues. what is the latest? >> some stellar results, but that chip shortage continues and seems to be getting worse. this is the difference between when you order the chip and when you get the delivery. that is surging past 20 weeks according to latest research, a lot higher than 6-9 weeks. this could extend further into 2022. this will hit industries. they are forecasting there could be $100 million lost in automobile sales. big companies like apple unable to meet demand for their products. tom: what is happening with mna? -- m&a? >> i want to focus on the u.k. market. they were a leader with chip innovation in europe, but we are seeing them bought by foreign players. you have firms sold to a chinese manufacturing firm. and semiconductors sold to a japanese company. u.k. selling about $42 billion worth of its chip industry. we will talk about this and a lot more will me have the ceo at

emily: qualcomm's ceo speaking about the timeline for a chip supply turnaround.e was the only chipmaker at the event. intel's ceo also announced his company will dedicate production at its plant in iowa to making semiconductors for the car industry. >> today we are announcing the european founded services out of our island facility, and we believe this is an opportunity to expedite the end of the supply shortage and we are engaging with auto and other industries to help build on capabilities. emily: it was not just tips on everybody's mind -- it was not just chips. another key talking point -- italy, home to a number of key sports carmakers, has been exploring ways to shield those companies from those rules, but they say the exemption is not necessary. >> on our roadmap, 2022 will be the last year, and we are going to hybridize our lineup. there will be the new rules and the follow-up at the end of 2024, and this will allow us to cut emissions by 20% in comparison to today. we are engaged and taking this position. matt: i feel like i'm going to pass out. it's jus

qualcomm is posting 70% rates. this is actually deliberate.e trying to restrain sales now to avoid a glut in the future. they would rather sacrifice now and smooth things going forward. shares are up about 0.8% in the premarket. chinese adr is under pressure. vip, those are down. tom: what we see with dnd up, what's the institutional ownership in america with all of these names? romain it, it's much smaller. we are talking about 30%. obviously, a lot of this has to do with the state control. the miscible government in beijing is going to take a sizable chunk. some people seem to think this would become part of the regulatory issues. tom: thank you so much. it is always important on jobs day to speak to the chief economist with morgan stanley. it is ever more important on the american labor economy and our gdp call. ellen joins us now. let's do the labor economy first. we just had a very cautious call from td securities. what is your statistic? ellen: it's not that exciting. it is 725, which seems to be in line with consensus on bloomberg termi

haslinda: the latest episode of bloomberg studio 1.0 year, emily chang qualcomm's ceo about taking on job at the company and solving the global chip shortage. watch the interview. here is a preview. >> we are short on everything, like every single product across every industry we participate in. we are short. if semiconductor companies say we are not short, you should be worried about them. rishaad: we will bring you the hang seng. 2% decline taking place as it is brought down by some of these casino stocks and property stocks weighing heavily on the index. there we go. oil -- oil prices up 3% overnight so pretty much ready at the moment. that is the casino picture. macau down 5%. china is not on that list but down 5% as well last time we checked on it. a quick look at property as well. evergrande feeling it once more, down 9%. agile property. down 12.8% as well. that is it for bloomberg markets. you have daybreak middle east on its way, next. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where n

how is it can with qualcomm? >> let's talk about this.s a new reality across the board that the percentage of digital component of the economy is higher. i think we all saw the pandemic accelerated. the autmotive industry wasn't immune to that. we are excited about the opportunity. this demand is here to stay. of course we're short in all technology across our industry but the good news, we put our scales to work. we have been investing with our suppliers and we expect the material supply improvement we get at the end of this calendar year. we will enter 2022 with a much more balanced supply-demand equation. >> can i ask you about m.m.a., wants to buy arm for $40 billion. regulators are concerned they will not allow everyone equal access. why would they? if they are paying $40 billion for it. what are your thoughts on the possibility of a less open arm climate here? were we're being very consistent in our position with other companies. they are a leader, implementers of arm technologies. arm already won. arm won on mobile. mobile die with

. >> some people are saying qualcomm might be laying off, there's issues at qualcomm all i can tell youd, you nose these companies. the competition to give you a phone is much more important than whether you went to the apple story. you know, david, that it's all about the phone companies. >> it is about the subsidies that they provide in terms of at least letting you trade in an exists iphone for a new one, perhaps a 13 at a very substantial discount. >> i'm getting one. >> are you >> my superstar is dying. >> you have a very specific opinion about at&t i would not say it's a particularly positive one, unless things have changed in the last ten seconds. >> they are not going to. >> but they are going to complete the spin-off of warner. they have conceivably going to be fighting a one-front war. spending enormously direct-to-consumers, and the wireless wars, with two well-funded competitors coming at you so the idea is at&t will be more aggressive now >> when lenin said they would fight a one-front war. how did that work? at&t going to 25 >> i think it's clear, then he still has a relat

emily: the qualcomm ceo speaking at the munich motor show about his timeline for a chip supply turnaroundwas not the only chipmaker at that event. the intel ceo also announced his company will dedicate production at its plant in ireland to making semi conductors for the car industry. >> today, we are announcing the european foundry services at intel 16 and other nodes out of our ireland facility and we believe this is an opportunity to help expedite the end to the supply shortage and we are engaging with auto and other industries to help build on those capabilities. emily: it wasn't just chips on everyone's mind at the munich motor show. a plan by the eu to phase out internal combustion engines by the year 2035 also a key talking point. italy, home to a number of high-powered sports carmakers, has been exploring ways to shield those companies from the new rules, but the lamborghini ceo told bloomberg that exemption isn't necessary. >> we have a clear roadmap. 2022 will be the last year of combustion engines only and then in 2023 and 2024, we will hybridize all of our lineup. then there wi

discussing it with a representative from the federation of automobile -- emily chang speaking to qualcomm'sut taking on the top job at the company in solving this global chip shortage. watch this interview later thursday. here's a bit of a preview. >> we are short on everything, like on every single product across every single industry that we participate in. we are short. if companies say we are not short, you should be worried about them. david: a brief look across the market that we are tracking closely here. i guarantee you, something will come up. here we go. energy plays on the back of oil. $75, one bright spot of the market. casinos, very bad yesterday. mixed today. some are not quite on offer. it's quite bifurcated as you can see on your screen. if you had to make a guess, it is locally owned. still a lot of uncertainty out there. property names here, listed in hong kong and up in china, seeing a lot of pressure, dragging down. the property index is very close to the 2020 low. beyond that, we basically fall back to the lowest level since 2016 and maybe a lot of it has to do with wha

qualcomm has made a formal bid of more than $4 billion for an automotive tech company, an offer of $37, beating a rival bid from magma international. it is interested in the company's software division, which helps the cars perceive and make driving decisions. staying with things automotive, toyota is objecting to proposed tax credits for electric vehicles in the u.s., claiming that the plan includes exorbitant tax breaks for the wealthy. the automaker complained. the tax break would let anyone who earns over $400,000 a year eligible for the tax credit. taylor says electric cars shouldn't be just for rich people -- toyota says electric cars shouldn't just be for rich people. yvonne: asian stocks are slightly higher on the back of what we were expecting around this day. u.s. inflation numbers. treasuries dipping. fx-wise, mixed when it comes to the dollar, looking softer and against some em currencies. the commodity space -- shanghai futures, of by 2.5%. we have seen these 13-year highs for metal, aluminum, copper has been seeing that reflation trade kick in. so a lot of questions about

taiwan semiconductor manufacturing company qualcomm, sky works, all down on the day, in line with thetrade and the risk off momentum. not as much as your alibaba's or jd's. less than half a percent across the suppliers. apple ending positive on the session. interesting to see that if you are a supply chain, or in any way associated with a big tech name, you are insulated from the broader move. something to watch for in the days ahead. emily: for over two decades, google has made it its mission to make information as accessible as possible to its users. they have been doing that by sorting through billions of webpages to find the most relevant information. now, google is taking a different way of doing things, using ai to better understand the nuances of human language. google fellow and vice president of search joins me now. thank you so much for joining us. google has been working on new technology using ai that can understand information across a wide range of formats. tech, images, other kinds of search results. how will this make our google searches different? pandu: thanks, emily

that's the whole ball game or look at qualcomm and its decision to become an arm licensee and do snapgon and sell chips and not just do ip. have you thought about what strategies within those technologies will be keys to success in the future? >> we're moving towards data whoever controls data will control the world essentially and will be able to develop more things there's a lot of different strategies you're so right that by moving a little bit to the left or the right you can miss the next big thing. if i could point out one strategy, the value chain of the data from the point of creation to the point of use, i think this is what everybody is aiming for right now. we usually used to say that, you know, if data was oil, probably the big tech companies or china u would be the next saudi arabia if you control data and you leverage it and you maintain it in-house, this is probably the next big thing going forward you can never give up your leverage on data >> it's 150 pages. anyone who gets ahold of it should read every page we could do a whole hour on some of these categories. apprec

right now, for listeners on sirius xm we are cycling through ab in charts, amd, semiskuktor, micron, qualcomm, intel. what is interesting stacey is all of those companies dabble in different types of chip markets. >> yeah. >> is there a specific part of the semiconductor industry that you think leads the way out? is it memory chips it is going to be wireless or cellular-related chips it is going to be gaming chips or graphics chips? what companies do the best here in the coming six months >> your first point is interesting. we have seen shortages and supply chain issues -- we have never seen something impacting the entire industry broadly across every sector. this is new. we have never had a global catastrophe kick something off like we did this time. s that uncharted i am going to the automotive and pcs. you can actually do the work, i can get decent data on auto or pc semis and data on end market shipments and i know how to subtract you can demonstrate it pretty well you are seeing overshipments there. other end markets like in industrial and things are more opaque industrial is not an end

. >>> and a strong buy saying qualcomm is the only company that people play important iphone parts, more the top calls on the street on cnbc.com/pro we're back after this. age before beauty? why not both? visibly diminish wrinkled skin in... crepe corrector lotion... only from gold bond. another day, another chance. make the most of it with the network that can deliver gig speeds to the most businesses. and get the advanced cybersecurity solutions you need with comcast business securityedge. ask how to get comcast business securityedge to help protect all your connected devices. and get started with a great offer on fast and reliable internet and voice for just $64.99 a month. plus, ask how to get a prepaid card up to $500. call or go online today to learn more. comcast business. powering possibilities. >>> a new report exposing a massive propaganda campaign on chinese social media eamon javers has details eamon? >> carl a new report from a threat intelligence unit, cybersecurity company analyzing things going on, on the web. they say this existing chinese propaganda network people knew

inch screen and 16 hours of battery life and the one that flips open triple lenses on the camera, qualcommessor which is pretty standard you can edit on one screen and view the photo that you're shooting on the other screen slim pen stylus and all sorts of goodies here, guys all of this comes as we're looking ahead to a holiday season where there are chip constraints for devices. so, companies trying to figure out how they're going to manage those and i think there is a question on how much of consumer taste is going to shift towards the high end microsoft had had this interesting strategy with the surface. they argue they're not competing with their oems, but they're trying to inspire them by keeping focus on the high end. microsoft up, i believe, let's see, almost 1.5% this morning as that news happens, carl. >> yep microsoft definitely broke 300 on monday when it fell as low as 289 but recovering well above levels from monday and monday's high even. much of the market is. interesting, guys, as we keep our eye on some of these photos rolling in at the surface but, julia, we talk about ha

fig has everything from qualcomm, verizon all the names that put together the 5g. on the 5g opportunities for its brand new iphones and the brand new ipads. do you as you speck tech in a way is the safest place to be in the second half i guess? >> i do. i think part of that is if you look at the situation now you have the flexible work at home situation that will continue. hybrid education and things like that. so you're going to use tech as you know it. [closing bell rings] tech is changing. it is morphing into cloud, cybersecurity and i think -- liz: there are those bells. nothing technical about those bells. we thank you, sylvia jablonski, "kudlow" is -- ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. so there's lots of breaking news tonight, folks. up on capitol hill secretary of state blinken went into day two of the catastrophic afghanistan hearings. this time in front of the senate foreign relations committee and he continues to blame donald trump. continues maintain nato and our allies were behind the budge bungled that it was smashing

. >> amd ceo at code hoping to get insight from qualcomm and product announcements from the likes ofzon and microsoft rolling out. just get a sense of how confident they are and what their plans are for these products into the coming year. what would you ask the chip designers, chip makers, right now about what they're seeing q4 wise in their plans for the beginning of '22 >> yeah. so you need to remember most semiconductor companies their actually visibility into what doing is precisely zero. i'm not knocking them it is what it is. what they see are the orders in front of their face. right now those orders are incredibly strong. i don't expect that to change, you know, over the next week or two. we actually just went through a bunch of conferences over the last several weeks by and large the tone coming out of i think your earlier guest called constructive, that's a good word. it's been very constructive. order patterns are strong. i don't expect that to change the next week or two >> but stacy, as you look at this strong demand, aren't there signs of deceleration saying the pc mark

my observation of the process, when you go back to issues like qualcomm and others, it is a process that can be very cumbersome, so if we are going to send a bunch more traffic through it, then i think we have to look at the reform of how it works. but it exists and it addresses some of these issues and it is looking at some of the very questions the eo raised but it may be a requirement to go forward under the process right now. that is a great recommendation from the biden administration, which is how much of this are you going to try to do through eo's, and how much are you going to look at the review? that has been discussed for years, there needs to be improvements to this process. jennifer: i agree that taking a review of the process is an important -- one reason why i like the eo is i think it fills a gap that the process does not cover at the moment where it is looking at applications that are solely owned by a foreign government or by an adversary as opposed to the adversary purchasing a u.s. company. so i think, in my mind, between the ceo and the process, sometime in the futur

qualcomm also joined that list this past summer as well so, while progress has been made in making corporateesentative of the broader population, still a ways to go especially in the leadership ranks. scott, back over to you guys >> dom, appreciate that report very much. we have final trades coming up next wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. wealth is watching your business grow. worth is watching your employees grow with it. principal. for all it's worth. (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility

also tomorrow i'm in san diego a couple of hours south with qualcomm ceo and along with magic. show, carl >> i can't wait for that all three things >> julia >> yeah. carl, you and i will be on set there at the hilton for coffee we have jim an early facebook investor and david marcus from facebook he oversees all their pin tech moves. >> what a lineup also time for one more thing today that's a crypto currency trading hamster that's outperforming warren buffett meet mr. gots a hamster that exclusively trades crypto. he picks between dozens of crypto currencies by cycling through them on his wheel and then executes buys and sells orders by going through different tubes. his life streams are broadcast over twitch. he can be uncertain in his decision-making but tends to work some late hours here he is executing a buy order and then immediately selling before buying again. we can't argue with the results quite yet, guys. he's up about 20% since opening the account back in june that is better than the s&p so far. jon, traders they get younger all the time >> they do julia, i would li

automotive sector which we know is dying for chips and will pay anything for chips then there is qualcomm my favorite within the telecommunications sector. but i want to make a broader compensate about the semiconductors i think we're all going to agree that this is kind of like what steel was in the last century or railroads two centuries ago. you have to have them in your portfolio. and if you're wondering how do i buy them now because they have had a pretty torrid run my dwiz is if you don't have the position in semis, take a toehold now. average into the over the next three four months. don't wait you have to have a toehold if you're uncomfortable at the levels build it gradually over the next three to four months. niece are companies you're going to hold for years, years, plural >> years wow. all right. let's move on. i guess we'll call it tech it's got tech in the name. biotech, breaking out. if you're not paying attention maybe you should as this everything rally is tom lee liked to call it seems to be happening. the s&p biotech index on track for a second positive week it's close

susan: qualcomm is bidding $37 a share, this is taken into four and half billion dollars, qualcomm isto offer price there might be risk and this potential offer i want to show you coinbase by issuing a potential m&a activity, they say when you raise an issue debt the stock goes down in pfizer's vaccine could be authorized for kids ages 5 - 11 next month and report to the fda to get pfizer in its vaccine partner by a wind tech the green light later on this month, to show you performances as well, airlines like united, delta, american and even boeing are outperforming today, these are travel value plays, the uk said they will not implement a vaccine passport but travel has underperformed over the summer months compared to the rally in the performance that we seen in tech there may be bargain rotation back into these type of travel names. stuart: maybe i don't really understand why the airlines are moving up today pretty much across the board, the heavily in debt only 1.9 million people passed through the tsa checkpoint on sunday, there is a lot of negatives in business travel is not bac

the world's second-largest -- they gave -- say qualcomm has made updated of $4 billion for a tech companyhare beating out a rival. it is said to be interested which helps cars make driving decisions, and later divest. toyota is objecting to tax credits for other vehicles, saying it includes exorbitant tax breaks for the wealthy. they complained about a proposal which makes any individuals eligible. toyota says america's limited resources should not be used to give tax breaks to the wealthy. plenty more to come. this is bloomberg. ♪ >> this is daybreak: asia. a global scientific panel says covid-19 vaccines work so well that most people do not need a booster. a report published says governments should focus on immunizing the unvaccinated and wait for more data. the assessment is based on a wide range of real-world observations. the front runner to be japan's next prime minister has been given a new boost. a newspaper quotes that he plans to back them in the party election. lawmakers will vote for their new leader on september 29. china evergrande is engaging joint financial advisors to try

also participating remotely in the event are the ceos of intel and qualcomm.ancy pelosi has pledged to pass a $550 billion infrastructure bill this thursday. she will put the measure forward on monday. the senate has already passed the bill, however democrats are divided on a separate, bigger package. pelosi says the headline amount of the bill will be lowered. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. rishaad: 9% gains, a chairman issues reforms. ever grand making headlines. yvonne: still watching -- it seems like at this point, the pressure was mostly on the stock. down close to 7%. ever grand -p talking about policy support. plenty more ahead. this is bloomberg. ♪ rishaad: look at the hang seng. bit of a relief rally. yvonne: the pboc had $100 billion injected, seeing some signs to support markets as they try to deal with the crisis. still no clarity. we are seeing the likes of property. rishaad: going to the lunch break,

qualcomm gave a bullish forecast saying thanks to strong demand.ays revenue in the fourth quarter will be about $7.35 billion which is higher than average analyst estimates. they say their latest results reflect strength in markets including the cloud, 5g infrastructure and broadband. a weasker than predicted forecast for the current corporate -- current corporate -- current quarter. they say profit will be between $.52 a share in the three men's -- kathleen: we have to share with everybody this story of our colleague in tokyo covers the boj because they are coming out with a new ¥10,000 note. the equivalent of a u.s. $100 bill. it is so cute. they said ta-da. they got over 190,000 likes on a tweet. it may not be much for -- naomi osaka has millions every time she tweets something, but for the central bank -- of course i love all these essential banks. it has to be kind of fun that they got so much attention with something like this. haidi: according to even the boj's own survey, the majority of japanese households find their communications difficu

for more, let's bring in our next guest mark fields is a former ceo of ford and qualcomm member this neck challenges that have been facing this industry whm do you expect this to normalize? >> well, from the information i'm looking at and folks i'm talking to, you're not going to see a normalization until next year the bottom line is the auto industry is firmly in the grip of this ongoing semiconductor chip shortage because it's been exacerbated by the covid shutdowns in asia, where a lot of the chips are obviously manufactured and, as you go forward -- there's always things that are going on that are interrupting production, whether it's weather wise, labor wise but in the past, the supply chains have been able to weather that because there's been enough supply in the sigsm. now, the supply chain is so tight, kbtd there's an issue, whether it's labor or weather or whatever, you're going to see an immediate impact and that's why you see those plants going down. so, the bottom line is the next six to 12 months volatility and production is the new norm in the industry >> right you brin

along with qualcomm ceo who was the latest to join that list in june of this past year so it is a relativeh at least one latin x director buttocks the list is technology which we know has faced calls in recent years to increase diversity accord together latest reports leading fewer than 10% of tech positions as giants like facebook, apple, amazon and microsoft. progress being made but still a lot of work to be done the tech stands out as well >> getting attacked on a number of fronts. it is about trying to make its way more accessible out there that is not part of the centric silicon valley community >> talking more about hispanic reputation in the board room joining us with more is founder and ceo of the her rarery-christina group special eyes in marketing, communication, corporate diversity and research former ceo of hispanic chamber of commerce in the united states good morning >> happy to be with you. >> you are a member of several boards you've been tracking this closely. why do you think there is so little reputation in the board room representative to the population of consumers out

we have collaborated with companies like intel, qualcomm, and cisco to create this open network ecosystem. when i joined rakuten, i was optimistic that they would give me the opportunity to do something for the wireless industry that is well overdue. to reimagine the network end to end, from radio to transport to the core and support systems. leveraging the internet and cloud principles. when we started this journey, rakuten had indeed had a choice, to select a traditional vendor or bring the ethos of the technology developer. we did consider going with chinese equipment supplier. one of my first jobs at rakuten was to cancel the ongoing rfp process and reimagine how future networks should be built and the possibility that networks could become more secure. and we knew that for this network concept to become credible, an ecosystem needed to be created. historically, wireless networks relied on a small number of vendors to provide complete vertical solutions from radio to the core and other parts of the network. it has always been about replacing proprietary hardware with new proprietary h