ramy: i am ramy inocencio.ling back from more markets, further drinking the banks global footprint. the ceo and the chairman are reviewing up to one quarter of the 67 countries hsbc has at present, and may quit bermuda, malta and oracle wide. -- uruguay. yvonne: the battle for australia's energy future continues, the prime minister theng agl to extend lifespan of a coal station by five years. they want to replace it with renewable gas. they say it is too risky for the national grid. rival companies have signaled interest in buying liddell. sands ceolas vegas can breathe easier. his salary has been more than doubled to $26 million. last yeara new deal that quintupled his salary to $5 million. perks.d some other world 20th richest person. yvonne: stocks recovered from trade war fears. the outlook for asia in about 10 minutes time. plus, we look at president xi's made in china 2025 at tech push. theresia gouw joining us in the next hour. this is bloomberg. ♪ ♪ >> 8:00 a.m. in hong kong. we are live in bloomberg's

ramy: this is bloomberg. ♪ ♪ ramy: this is "bloomberg best." i'm ramy inocencio.nue our global tour of the week's top business stories with a look to europe, where some of the world's biggest banks reported global earnings. -- quarterly earnings. that started monday with ubs. >> a strong report from ubs investment bank, offset by weaker gains. walk me through what went wrong and what went right? >> it is a tale of two halves, that is for sure. the investment bank has done fantastically, equities trading is up, the m&a advisory business has had a fantastic quarter. the unit head vindicated in his strategy in keeping it light and not using too much of the balance sheet. investment banking is a smaller part of ubs wealth managementt these days is a bigger bit. wealth management people have been scratching their head today, and wondering what has gone wrong. the earnings were a little under estimates, that has produced a big negative market reaction. >> and credit suisse is reaping its rewards from the pivot to wealth management. the swiss bank attracting in the first

this is bloomberg. ♪ ramy: i am ramy inocencio in new york.re watching "daybreak australia". let's get a check of business flash headlines. profits is operating forecasting profits through next march and will climb to billion dollars. the highest since 2010 when the wii was dominant player within the introduced a new president. ramy: and baidu grew strongly in new york and expectations, with revenues at 3.9 two $4.2 billion. pr at a dollart 60 and the improvement is due to surging at sales on its new talkingand subscribers to its netflix like operation. microsoft exceeded forecast lifted by a strong corporate demand for cloud computing services. rose $7.4 billion, or $.95 per share. sales rose 16% to $2.7 billion as marc a soft drop demand for its clout products. ramy: intel is offering better-than-expected second-quarter sales forecast and raising earnings outlook for is the wider computer industry continues to make money. od is in the current peri beating estimates raised on the strong start to this year, intel is also boosting its forecast

ramy: i am ramy inocencio in new york. you are watching "bloomberg daybreak: australia."p, the trump administration has indicated it is willing to negotiate with china as trade tensions escalate. beijing has announced reciprocal tariffs on u.s. products roughly in line with the duties ordered by president trump. china is targeting soybeans, automobiles, and aviation, and says the measures will take affect when the institute -- when it institutes its own tariffs. >> china will not back off from its 2025 program. they will work very hard. they developure their economy and future technologies. we will not be able to slow down that much. some of their practices in pursuing that 2025 are not fair. a lot of them are fair. -- has to start developing our technologies at a much better pace. >> fed officials morning the potential trade for ads uncertainty to a bright economic outlook. early to says too what it might mean for jobs, inflation, and policy, james bullard says there is downside risk. lyle brainard also things trade tensions at uncertainty to the outlook. on chinaares fe

ramy: let me pop in here.about currency effects and the yuan, appreciating 9% to 10% since its high. the pboc and beijing is comfortable with this. we are seeing manipulation accusations from donald trump in the white house. what gives here and what is the trajectory you are seeing? >> president trump has indicated he is comfortable with a weaker dollar, and we are seeing that in the dollar index relative to renminbi. you have a difference and fiscal position between the two economies. china is targeting a smaller deficit as percentage of gdp, where the u.s. is looking to head in the other direction. perspective, they have been willing to tolerate this so far, but the pboc probably does not want to see substantial appreciation from here given the negative impact to exports. it is something to watch. haidi: i did want to bring up the chart i had a before, this doubling when it comes to e-commerce sales. i think it is so impressive and points to the broader picture of that the government has been attempting to r

ramy: that's right. and we did see a little bit of that in some of the treasuries as well as gold, inching up just a little bit. a quick recap in terms of the s&p 500, up by about 1% area yvonne: -- up by 1%. yvonne: in asia, we are seeing some green as well. in china, we saw a triple are cut to help the beleaguered banks. look at the index. we are up 1/5 of 1%. the kiwi is holding at 7344. the aussie futures, we could be seeing a decent bounceback today. we are counting down the opening of japan and korea. we could be seeing decent rallies today as well as the summit in mar-a-lago is underway. what could the prime minister of , domestically he is facing a danger zone. the dollar is pretty steady. let's check in with jessica for the first word news. jessica: the internet shery -- the international monetary fund expects expansion for two years. leaving the cap unchanged at 3.9% but projects global growth. china's gradual slowdown continues. china is adopting a carrot and stick approach to trade tensions w

ramy: i am ramy inocencio in new york.t to expect in the summit between the leaders of north and south korea. our guest at the university of california san diego, stephan haggard writes extensively about north korea for the peterson institute and the council on foreign relations. thank you for joining us. ls how sincere you think the north koreans are when it comes to denuclearization, or will this be contingent on a peace treaty? >> that is exactly the right question. the question of a peace treaty, which is of great interest to the south koreans, has been laid to progress on the denuclearization front. we think that is an issue that would be discussed solely between washington and the north. but in this case, it looks like it will come up in the north-south summit as well. yvonne: it seemed it has changed, the tone, people are optimistic this time around. why do you think that is? is it because kim jong-un reached a point in developing his nuclear weapons, he no longer needs -- he can accept some type of cap, or is he se

ramy: sophie, thank you.king at the bloomberg commodities index it is now up the most since august of last year because of this whole rally we're seeing across the metals. meantime, let's get back to the earnings carousel. morgan stanley has reported record first-quarter profit as well as revenue, but the ceo says he does not want people getting ahead of themselves. our finance editor joins us now from san francisco. walk us through these earnings. what is the top headline we need to know? dan: the earnings were a record across the board in all the divisions. morgan stanley seemed to really hit their marks, if not exceed them. they passed $11 billion in revenue for the first time. that was a record, obviously. they exceeded expectations in fixed income. they exceeded expectations in investment banking. in investment banking, they were the best on wall street. they were up 7%. so far this year on the league tables with m&a advisory, morgan stanley is leading the charge. ramy: morgan stanley leading the charge,

i am ramy inocencio.ng the many major financial institutions in europe that reported results this week in a quarter that saw volatility come back to global markets, the perspective from these top executives was particularly interesting. >> the threat with geopolitical tensions rising, the concerns over trade globally, how much of a threat is that? >> the world is really mixed. if you look at the economic dynamics, they are very constructive across the board. there is still sign of synchronized growth and momentum. but on the other end, when you look at the geopolitical picture, the picture gets a little bit more foggy. clients are feeling that. you look at the behaviors in the first quarter of client exuberantwe have an beyond the normal, seasonal january, factors. followed by much more muted client activity levels in february and march which was similar to what we saw in 2017 during the year. so, it is very difficult to say anything other than we are prepared from a business standpoint. we've a good mome

let's get first word news now with ramy inocencio. ramy: good morning.he trump administration says they will extend relief on steel and aluminum tariffs to some of the allies but not all. temporary exemptions expire this tuesday and congress secretary wilbur ross said the announcement will be made before the deadline. declined to say who would be spared. nations have been asked to accept import quotas for terrorists -- tariff access. designed in the claims she misled parliament over targets for removing illegal immigrants. critics have been asking for her to step down and prime minister theresa may has accepted her resignation. she was pro-european in the government and was a counterpoint to the former secretary boris johnson. twitter sold information to the same academic who obtained facebook users' data and passed it on to cameras analytica. -- cambridge analytica. hogan was given one day access to random public tweets, covering a five-month timeframe from december 2014 to april 2015. twitter has removed cambridge analytica and affiliated entities as a

jarrah thank you all for joining me on up front rami let me start with you it's been more than seven years since the arab spring failed in syria the war broke out but given that bashar al assad with the russian and the iranian support seems to regain control of the majority of his country is it coming to a close how does the syrian regime one. i think. we have to focus on the fact that if we were saying that winning the going was me in the aspirations of the people of syria not would be the case but if we're talking about this political game and training not stronghold in syria maintaining power for the near future the that's different in the case alexei clinical of hundreds of thousands dead millions displaced from their homes is this really a victory for should i say for assad and putin well so if we all agree that the russians major goal was to. back up existing syrian institutions and regime to significantly to eliminate the ability for terrorists in syria then of course that was a successful and successful story but if you look at this as a political solution that the ultimate g

ramy: and a warning about borrowinge global tops $160 trillion.ydney, thisfrom is "daybreak australia". past 6:00 p.m.t here in new york and over the next hour will look at the action on wall street and elsewhere in the united states, especially mar-a-lago, and how it will plate in the asia-pacific trading day. we are counting down to the seconds forpossibly the joint appearance by donald trump and shinzo abe. garlic at life pictures from mar-a-lago. --ot of issues are at stake you are looking at live pictures from mar-a-lago. and of course, nuclear missiles. coming to the cohesive strategy as we get seemingly closer to that key summit between the u.s. and north korean leaders, in light of the confirmation of mike pompeo. over thed north korea easter weekend to work out where the summit will take place. securitieseopolitics and trade, and other side, yet the president flirting with the idea of returning to the tpp, it was then turned to its head said he a tweet that he doesn't like the tpp and prefers a bilateral field. it will be interesting to s

battlefield perhaps on a much more diplomatic level but it's going to hurt the syrians as a people rami khouri i'll give you the last words coming back to this action that we seen from the u.s. france and the u.k. the last two major western interventions in the middle east. didn't go very well there were disastrous and i'm thinking here of libya and iraq of course where is syria headed right now look it's been clear since trading them. creation and roman days that you cannot use military power in the middle east if you're a foreign imperial power and expect things to go your way you can dominate the local situation for a few years maybe a few decades but in the end the foreign power leaves and this is what we're going to start seeing happening here in syria we have the problem that one hundred years ago and today we have a repetition of the situation where foreign powers european powers one hundred years ago today with russia and iran and turkey involved are shaping the future of syria and trying to to to hand-craft it in a way even writing constitutions for the syrians so this struggle

first word news with ramy inocencio. ramy: thank you and good morning.cause a potential visit by the u.s. treasury secretary steve mnuchin who is cautiously optimistic the five can reach agreement on trade. the mystery of commerce that it has been told mnuchin is planning to travel to beijing but no dates have been determined yet. the u.s. and china have both been warned a full-blown trade dispute could derail the global economy. donald trump is tempering the optimism about north korea now as lawmakers sounded skeptical about promises to halt its nuclear testing program. the president had hailed what he called big progress and said he looks forward to meeting kim jong-un at some point. now he has told his twitter followers things are a long way from a conclusion and things will or will not work out. tech and cybersecurity firms fire i says chinese hackers have targeted japanese defense companies, possibly seeking information on tokyo's policy towards resolving the north korean nuclear issue. the subject is the ap 10, china-based espionage group. they tar

here is ramy inocencio. ramy: thank you.he ecb policymakers are said to be waiting until the july meeting to announce how they will wind up the bank's stimulus program. the members of the governing council wants sufficient time to judge if the euro area economy is overcoming at first quarter slowdown. sources say no formal discussions have been held on a rate strategy. the euro briefly dropped to its lowest level in two weeks on that news. bloomberg has been told theresa may is fighting to avert a rebellion inside her own conservative party with eurosceptics concerned she may break a promise to take the u.k. out of the european union trading block. the prime and asked her's in a circle thinks -- inner circle's thinks she may stay in the union because of parliaments plan to reject. its says it will restart nuclear program if the u.s. breaks the deal struck with the six powers. president trump campaigned on opposition to this and has threatened to drop it unless what he called serious flaws are fixed. the iranian born minister

no rami.he way, on the streets, the other child refugees selling tissues and gum for their families. sidra is 12 from aleppo. >> you're home was destroyed? do you want to go home one day? >> yes. >> reporter: she asks us as many questions as we ask her. >> i love you. >> thank you. >> reporter: then as the sun goes down, the message, the boy we were looking for is home from soccer. >> there you are. came up right from behind me. do you remember us coming four years ago? >> yes. >> reporter: we show him the photos i still carry on my phone from that garage four years ago. he takes us into the courtyard, the building where so many refugees now live. and he tells me he now dreams of new zealand. before we leave a new photo four years later and a hug. >> thank you. >> the boy still dreaming of a new life. thank you for watching. i'm david muir in beirut. have a good evening. good night. this deadly tesla crash, elon musk speaks out. >>> a family on vacation who never made it to the bay area last w

we ask about rami, but he's not here.oach sends us elsewhere. >> thank you, good luck. >> reporter: they wish us good luck as we pull out. and then a batch of fields. we look through the fences. no rami. along the way, on the streets, the other child refugees. selling tissues and gum for their families. sidra is 12 from aleppo. >> you're home was destroyed? do you want to go home one day? >> yes. >> reporter: she asks us as many questions as we ask her. >> i love you. thank you. >> reporter: then as the sun goes down, the message, the boy we were looking for is home from soccer. >> oh, how did you come up behind me? do you remember us coming four years ago? >> yes. >> reporter: we show him the photos i still carry on my phone from that garage four years ago. he takes us into the courtyard, the building where so many refugees now live. and he tells he now dreams of new zealand. before we leave a new photo four years later and a hug. >> thank you. >> the boy still dreaming of a new life. thank you for watching. >> announcer

let's get you the first word news with ramy inocencio. ramy: good morning.irst to china and factory output rebounded in march,'s showing its first gain since november. that as manufacturing shrugged off fears of a trade war. pmi at 51.5, compared to median 50.6 in february. non-manufacturing pmi also improved. the results bode well for gdp in the first quarter which is expected to be higher than the official target of 6.5%. macau casino revenue beat estimates in march, underlining the city's recovery from the crackdown on luxury. this game at $3.2 billion last month, rising 22% and topping forecasts of 17% increase. to the middle east, israel is threatening to use greater force to suppress protests in gaza, rejecting accusations of firefighter -- firepower that left people dead. the protests were meant to traumatize their plight as refugees, but israel said they were covered to set bombs. a muslim leader described the killings as a massacre. china's first space lab will crash back to earth later monday but scientists say it is unlikely to break up completely

i'm ramy inocencio, this is bloomberg. into the open of the markets in asia. let's take a look at how we are faring. we are getting a mixed start to the session. we take a look at what's happening in japanese markets. the nikkei is adding one third of a percent. technology and telco stocks. drag,g looks to be the which is losing about 6/10 of a percent. very much in the spotlight after its first-quarter numbers. we have a focus of what's going on, the safe haven plays. this might spook foreign funds. ofy turned to net buyers japanese equities for the first time in 12 weeks, toward the end of march. we are seeing the s&p 600 open flat, let's take a look at what's happening with samsung. chipse rallying memory helping them. an antidoteovided to the stock decline since hitting a record high in december. about $39 says a lot million hitting the peak in november. an outlet things to the tight supply-demand condition. i want to take a big picture view on samsung. the trade ministry announced its new trade policy to soft and the

ramy: there is good trading revenue on this.ntelligence is thinking this will translate into positivity for those banks. bank of america on monday, before the open. back into the terminal, i will show you this final charge. we are going to be watching this. i am calling is up the course of this week. the major bank revenue and comparisons here, i mentioned bank of america here in blue. we might be expecting that to rise. this is the revenue. tuesday we expect goldman sachs to come in. there will be focus their and wednesday morgan stanley. target, butt high bloomberg intelligence will be looking through the lens in terms of what they were seeing in january in terms of the numbers they were going to hit. betty: thank you so much. big week in financials. the latest rounds of earnings likely to influence the direction of stocks, investors are focusing on fresh economic data and also the meeting between japan and president trump kicking off tuesday. su keenan joining us with more. let's take earnings and retail sales su:. it is a br

ramy: that is a smile that i am seeing from you.lity moving ahead under the trump administration. kendrick, thank you very much. betty, back to you. betty: thank you so much. ramy inocencio in san francisco. we are getting some headlines from japan's finance ministry. aso speakingtaro in tokyo, saying it was a mistake to ask a school official to lie. that is at the center of this increasingly complex and widening lansdale scandal. aso saying it was a mistake and also is going to work to restore trust in the finance ministry after the ministry admitted to document tampering in relation to this land sale. we will keep watching for the headlines and how they might the markets for japan and the yen. this is bloomberg. ♪ yvonne: monsanto shares surging after the wall street journal reported the u.s. will approve b ayer's takeover. that will remove the last major regulatory obstacle for the biggest deal on the season industry. last month, officials were not satisfied with bayer's plan because of concerns that it could hurt competition. pl

ramy: thank you and good morning.ea says it will invite international observers to witness of the decommissioning of the nuclear test site. the statement comes after friday's historic summit and the head of an anticipated meeting between kim jong-un and president donald trump, but north korea watchers say the site probably collapse after the latest test and is not workable anymore. >> this industry has advised that have its eyes wide open. we will be very different and negotiate in a different way that has been done before. we will require those steps. the word irreversible. we will require those steps to demonstrate the denuclearization will be achieved. ramy: the trump administration will extend relief on steel and aluminum tariffs to some of its allies but not all. temporary exemptions expire this tuesday, and commerce secretary wilbur ross said an announcement will be made before the deadline but declined to say who would be spared. nations have been asked to accept import quotas for the tariff free access of meta

betty: ramy inocencio with the latest on tesla. not my thing.t guest says tesla could go bankrupt perhaps in the next three months to six months. joining us from chicago is john thompson, who was quoted in a bloomberg story talking about this. months to six month after seeing some of the more data coming through, are you in the three-month or six month cap now? -- camp now? >> probably six months. a highly cyclical business. finance almost entirely with debt, which is coming due. i think their suppliers are going to start to worry that tesla will not be able to pay them, and if you look at the suppliers like goodyear tire, they had a 2% profit margin. good yourself tesla $100 million of tires. the upside is to make $2 million of profit and the downside is they may lose $100 million as tesla goes broke. what you see happening in these types of scenarios is the suppliers like to say what are we doing here? what only get cash up front? that cash demand could not be met by tesla today. if the suppliers acted that way, and i think they will eventuall

ramy: u.s. treasury yields hit milestone marks. the ecb stays in a holding pattern.

i am ramy. continue our global tour of the week's top business stories with a look to europe, where some of the world's biggest banks reported global earnings. that started monday with ubs. >> ups's investment bank, what went wrong and what went right? >> the investment bank has done fantastically, equities trading is up, and the mma advisory business is not a -- has had a fantastic quarter. 's feels vindicated in strategy and not using too much of the balance sheet. a smaller banking is parts and wealth management is a bigger bit. wealth management people have been scratching their head today wondering what went wrong. earnings were a sliver underestimates but that created a negative market reaction. >> the pivotal wealth management. attracting in the first quarter, why do credit suisse investors have a smile on their face today? >> it is not just the investors, it is the president himself. down onosts, he scaled the volatile trading units, and he is been saying to focus on wealth management an

i am ramy inocencio and this is bloomberg.vonne: the trump in this vision is imposing new sanctions on russia related to syria's alleged use of chemical weapons. this is after friday's airstrikes carried out by the u.s., france and the u.k.. let's go to our bloomberg editor , she is following all from d.c. for us. so of course, the president's: this airstrike a success over the weekend. have we learned anything more on the next step? that is sanctions against russia. >> the only thing we know is what nikki haley told us today in one of her son that show interviews. she said that they would announce sanctions on monday, sanctions religious russian firms that have some involvement in the chemical weapons program there would be no more details forthcoming from the treasury and state department. can look for those in the morning but there seems to be some sense that it may not happen on monday. i think we will have to wait and see. as you know, president donald declared that the u.s. was done in syria, mission accomplished his sai

let's get to first word news with ramy. ramy: the u.s.a list of chinese product worth $50 billion that now face new 25% tariffs. this covers around 1300 proposed tariff lines including aerospace, i.t., communications technology, robotics, and machinery. it will face further public review before any final determination. china says it firmly opposes the measures and will retaliate in kind. the worlds biggest ad agency said it is appointing an independent counsel to investigate allegations of cooonal misconduct against martin sorrell. reporting a possible misuse of assets by wpp says the allegations do not involve anything material to the agency. he rejects the allegations "unreservedly." thanook has removed more 130 accounts on the social network and instagram that were controlled by the russia-based internet research agency. the pages that had content were targeting people in russia itself or a neighboring country. a facebook says the investigation into pages linked to russia has been running for months. japan's new guidelines on casinos a

killed in the bombing right the bombing of the jihadi headquarters there so if you can't even get rami up. to play around with your hoax basically doing about it you would think that with the exception of this instance here i always think the opposite when i read what he writes ok. let's talk about something really important here again that gets no coverage in the mainstream russia hasn't reacted. little very literally military why not well i think the reason why the russian missiles did not strike down these missiles and that was confirmed by the ministry of defense is because we didn't want to make it very clear or so for an attack against russia remember russia is the weaker we could cite in this future conflict here russia's defense spending is twenty seven percent of what nato is european allies spend on their defense so if we show all of our trumps now if we kind of you know demonstrate all of that all russia's defense capability that will simply encourage that kind of leverage and i think i like whatever you have whenever you have a stronger they can cite a stronger aggressor an

what did you make of the stock as ramy just mentioned,?does that tell you about the financial sector? >> with all of the banks, we have seen these massive upward revisions for both eps and revenue. obviously, this quarter, it seems like they are going to get the one-time boost to the equity trading. fixed income across the board. technology continues to cut away at that business, so i think, when you look at the reaction to wells fargo, bank of america, j.p. morgan, stock opened higher, and they all closed a lot lower. this is what we call an outside reversal. it's usually not good for the next couple weeks to months of the stock. i think high expectations were baked in. there was not a lot that people were surprised about, in a sense, so they sold the socks off. betty: they will have to continue to beat higher and higher estimates. >> i think what they need to in a market the vol that produced the equities trading revenue, which allowed them to put up these good numbers where you saw the upward revision, that cannot be a one-time thing. y

job showcasing their welfare although the syrian observatory for human rights this make it sure is rami on the rodman this f.s.a. propagandist in coventry u.k. right this one guy who has been quoted in numerable times by the western press to put it inflate casualty numbers and everything like this he disagrees with the u.s. assessment. he says that over sixty five of the missile u.s. . were shut down not only that but he did not agree that chemical weapons were used in duma and all he said the people that were killed were killed in the bombing right the bombing of the jihadi headquarters there so if you can't even get rami up . to play around with with your hoax basically what about you if you can with the exception of this instance here i always think the opposite when i read what he writes ok. the cycles of is really important here again that gets no coverage in the mainstream russia hasn't reacted. very literally really why the russian missiles did not strike down these missiles and that was confirmed by the ministry of defense is because we didn't want to make it very clear so for a

ramy innocencio has more.oming out and saying, really reporting great numbers. ramy: basically here we are, we are here to stay, forget about your concerns with apple, with the screens. it really is the tip. that is what investors are hoping. we are seeing the share price rise about .8% right now. let me walk you through the top flight numbers, then go from there. for consolidated sales, 60.5 trillion won. that is really one of its best so far, just a tad off what they were expecting around 61.5 trillion won. consolidated operating profit, 16.6 trillion. that now we know is a record. we were expecting that when samsung came out with its numbers about three weeks ago. samsung electronics, the first quarter net -- once you dive into the bloomberg, i'm going to show you where we stand. this came in at 11.6 trillion , roughly $10.5 trillion u.s. going gangbusters as we move along. since we got those top lines out of the way, what we really have been waiting for was what was happening in terms of the chips, the scr

ramy: good morning.a and president trump's response to metal tariffs goes into effect later. of u.s.t 100 types imports like pork and fruit. the ministry of finance said the decision has been taken with the full approval of the state council. china has said it since this plans to seek confrontation -- compensation. trump spent this easter sunday on social media posting a series of tweets calling for the end of the dreamer policy that protects the children of illegal migrants . in three messages he said quarter agents could not work patrol properly because of liberal laws passed by democrats. he blamed mexico for not stopping people entering america illegally and threatened to jump nafta. k pop later role in the forward relations between north and south korea as kim jong-un attended a rear conference -- rare conference. they gave two performances over the weekend as the country's work towards the summit later this month. wife reports said kim's and sister were at that concert. south korea last ascent a po

let's get to ramy inocencio to see what elon musk is doing about these production numbers.'s asia suppliers getting slammed by expectations the carmaker will miss estimates for the first quarter. we could get those as soon as tuesday in the united states, but bloomberg has its own model three tracker. forecast, a standard weekly production of -- you can see that that is only about half as much. ifh that said, he did say things go as planned, we will comfortably exceed that number over a seven-day period. a tesla spokesperson had no comments off of those remarks. looking at teslas quarter legal of 10,000 units, bloomberg's model three tracker estimates and thousand 285 will be delivered in the first quarter. these expected mrs. of course -- misses raise a bigger question about cash flow for tesla. dive into the bloomberg terminal. the first quarter could be tesla's third biggest cash burn at $1.17 billion. slower production means a slower rate of investment, which means a need for cash. jeffries as well as moody's has said that tesla could raise two billion dollars more. we

ramy:korea summit moves closer and that president confirms the cia director was in pyongyang. sweden and switzerland to play host. haidi: a mixed bag of earnings, and all prices boosting producers. ramy:

germany's top film prize has gone to a film about celebrity actress rami schneider the film three days and keep off picked up a total of seven mon la trophies at the award ceremony in berlin including the prizes for best film best actress and best director and a biopic focuses on a candid interview schneider game to a magazine reporter undergoing we have shortly before her. back in one nine hundred eighty two. this is news live from berlin my colleague humphrey will be here at the top of the hour with more news about equal boston thanks for watching. earth the home or saving googling to those tell stories of creative people and innovative projects around the world ideas to protect the climate and boost green energy solutions by global ideas deemed by the series of global three thousand on d w and online. time for an upgrade. under church grows all by.

the final minutes of the previous show, ramy inocencio talked about the outlook for texas instrumentsving higher after hours. the rosy sales forecast provided them to move up, the largest provider of chips. the forecast beat all the estimates. that is diffusing concern about orders trimming off. the wednesday session as a positive in terms of text strength. betty: in the terminal and the metals market, that continues. aluminum, the biggest in decades after that run-up. su: it says a lot about the speculative trading taking place in aluminum, which had run up to multiyear highs. biggest drop as you mentioned in three decades, biggest two-day drop has a lot to do with the easing of tensions on the sanctions that would be placed on russo. let's look at how the adequacy -- equity stocks are moving. nationaling a hit, aluminum taking a very big hit. aluminum came off the three-year highs. oil on wall street believe could go to 80, but there is a view here there will be a of bearishterms forecast for the supply data that comes out on wednesday. that is one of the reasons we see oil moving s

ramy:

rami, thank you for being with us. we were just talking to somebody in damascus, in talking to a syrian journalist, we were tacking about the russian involvement there. i think it's time as we close up the hour to pull back to about 5,000 feet and discuss what has changed in 24 hours in the most unstable region in the world? >> what has changed is that yet one more american and european strike militarily against an arab target has taken place and that has almost changed no serious conditions on the ground or in diplomatic relationships. and the jubilation that was described in damascus is the sense that we have seen here many, many times over the years where a foreign power or regional power attacks you and you survive. kind of a defiance. the lesson is there's a limit to what military power can do. that's the real lesson. in syria, many people doesn't want the assad regime to stay in power, some do. from the days of rome until now, you can hit a target, you can kill people but you can't change the geo politics on the

we have angela merkel coming on friday ramy:. how do our -- on friday. do our trading partners perceive the u.s. right now? >> that the u.s. is a somewhat unreliable and untrustworthy traded partner because agreements are being reconsidered, and that could lead to uncertainty that affects businesses. these are relationships that are very important in standing together against countries like china when there are common interests among the european union, the u.s., and so on. having conflicts with one's traditional allies certainly makes that fraud as well. see with our allies some sympathy the basic argument that they were formed a long time ago with the u.s. was much more dominant. that is the irony of this. there are so many common interests at you would think these relationships are getting stronger other than being threatened right now. if you think about the common interests against china, the logical approach would have been perhaps to take china to the woodshed because there are many .ssues it was difficult to bring disputes against china when thos

betty: ramy inocencio there.t with those charts you just saw using g tv . charts featured on bloomberg television and catch up on key analysis. save charts for your future reference, you can also use them. yvonne: our next guest says political risk is becoming too much. he may consider selling all of his u.s. assets. p capitals is the a& investors head of dynamic markets. they are worth more than $445 billion. you are so frustrated by the u.s. china tit for tat, you may dump all of your u.s. holdings. from what you heard today, you may need to step that back? >> first and foremost, our responsibility as fund managers is to protect client money. you look at the cycle, that u.s. assets, valuations are not cheap. u.s. markets are relatively expensive. fundamentals have been good. if the normal cycles play out, usually what happens is inflation, it pressures the fed to hike too much and causes the next recession. typically that is two years away. ande day today tweets volatility can short-circuit the cycle and le

shape the broad outlines of strategic directions in this region good to get your perspective as always rami who in new york thank you. oh plenty more ahead on the news hour a facebook data scandal is much bigger than first thought we'll look at what the chief executives doing about. the latest from brazil as the supreme court decides whether former president lula should go to jail. or take charge of their champions league quarter final but what cost details later in sports. all those stories ahead but first sierra leone has a new president opposition leader julius a modern bio they have been jubilant scenes in the capital freetown as news to emerge of the election runoff result not a bio of the sierra leone people's party won nearly fifty two percent of the votes he defeated the ruling or people's congress candidate some more of who received just over forty eight percent. now supreme court judges in brazil are deciding whether former president luis in asio lula da silva should be allowed to remain free while he continues to appeal a corruption conviction live now to our latin america editor

john ramis, kpix5. >> two separate shootings on east bay freeways were both cases of road rage took the first happened around 9:45 on northbound 680 in walnut creek near the boulevard exit. things got heated between two drivers. >> bottles were thrown, the victims were rear window shattered out and he initially thought his window was struck by a bottle. 11:00 he realized there was a bullet casing, i'm sorry, a bullet fragment in his vehicle. >> no one was hurt in that incident. one hour later more shots were fired near the willow pass exit. you could see where one bullet entered the side of this red suv but the driver is all right. officers later stopped traffic to search for shell casings. the chp says they've got strong leads in the shootings but no arrests. >>> details in the search for the family of four missing in mendocino county. officials now confirm that they have found personal items that the family took on vacation. the sheriff's office would not say what these items were but say that this confirms that the suv went into the eel river. the family was on the way back from port

. >> joining us, senior fellow and professor at the american university of beirut, rami khouri. what has been the reaction from normal people in the middle east? saturday, president trump said, mission accomplished. we all know, this is a seven-year civil war. >> i would say the ordinary reaction is mixed, obviously, across the middle east, like it is on political issues in the united states. we're polarized, as you are over there. i would say it is important to keep in mind that seven years ago, there was a massive, multi-million person uprising all over the arab countries, including in syria, to peacefully overthrow the prevailing autocratic governments. there's a lot ofjority of peopln the region, who would like governments like assad's to leave. egyptians and others to leave. there are minority numbers across the region, including a lot of our governments that want them to stay. they don't want to change the political order and the political elite doesn't want to change its benefits. but the single problem that caused the last 50 years of problems in our region has been the