ramy: i am ramy inocencio in new york. the u.s. and north korea move ever closer to that summit after high-level talks right here in new york. mike pompeo says they are making progress. ramy: all right, breaking eco-data crossing the terminal, south korean gdp as well as the cpi. gdp, quarter on quarter, kind of a miss. 1% is the actual against the consensus survey of 1.1%. in the year on year, it came 2.8%. i guess we would say this is just about meeting expectations for both of these, but we also have the cpi, which also dropped as well. yvonne: those numbers missing estimates, year on year rising 1.5% from a. analysts were expecting 1.7%. 1.3%, year on year. investment has slowed. you have trade tensions, that could limit investment decisions. also given inflation pressures, the bok is likely to stay on hold. speaking of imports, we will get those numbers, year on year in the next hour or so. with a gdp it seems that is fine, but the cpi, a miss. meantime, let's get a closer look at how the new trade tensions have roiled u.s. eq

ramy: i'm ramy inocencio in new york. it is just past 6:30 p.m.re watching daybreak australia. let's get the first word news with jessica summers. jessica: the dallas fed president robert kaplan has caution against beating up the pace of interest rate rises. he says the fed should not knowingly invert the yield curve. san francisco john williams says he is very positive about the economic outlook in the u.s. and abroad. he still sees three to four hikes this year as appropriate. >> the distribution has either three to four rate increases as appropriate for this year as a whole and a few more increases over the next few years. i personally view this to be the right direction. jessica: china's holdings of treasury's went to a five-month high, increasing to $11 billion to $1.2 trillion. despite trade tensions. china remains the largest foreign predator to the u.s. -- creditor to the u.s. it is followed by japan whose holdings dropped to $1.04 trillion, the lowest since october 2011. is set to be confirmed as cia director after the top democrat on the

ramy: i'm ramy inocencio in new york. to their highest in seven years off of the strong u.s. retail sales data. on top of that, risk aversion is spreading across asset classes as investors weigh the trade tensions, growth, as well is geopolitics. let's discuss that and more with michael temple, a pioneer in the and director of corporate credit research. thank you for coming on the show. crosswindslot of going back-and-forth. make heads or tails, especially since you are the bond that, with focus on what is happening with u.s. 10 year and other bonds and yields rising around the world. the 10 year is above 3%, for many investors it was the psychological line for the 10 year rising to greater heights. beginninghe markets to anticipate there will be an additional rate rise out of the fed. strong.ales were quite the thing that gives us comfort that this won't get out of control, some have argued we could see a 10 year at around 4%, having jamie dimon make that suggestion. we haven't seen dramatic increases of inflation. infla

ramy: let's take a closer look at the u.s.ebound in stocks as well as those bond yields as the u.s. dollar dropped, and oil prices climbed. su keenan joins us. there is this growing feud that seems the market selloff yesterday was overdone. the s&p 500 we go more than it lost yesterday. su: started just say this is a cycle, and the market senses a selloff and then a strategist says will see more of the same going forward. to giving at the market snapshot, we have the dollar lower. we have the s&p coming back 2000,, and the russell bright new record shows us we continue to see the smaller companies both larger gains in the multinationals. let's move in to the national stocks in focus. we see pretty good gains on the day and top the chart is this company that makes factory built homes, and that is a play on higher home prices and they beat the street prices in a big way. and bouncing back across the one of thesocean, many energy stocks rising with the underlying commodities. bloomberg,nto the gtv is where you can find the librar

ramy: 7:30 p.m.n new york, where markets closed 1.3% up, the s&p 500 recouping all of the losses we were reporting on a day ago. what a difference a day makes. you can see the cloudiness over the empire state building. yvonne: you are watching "daybreak asia." let's get the first word news. >> there are signs of more discord at the white house. peter navarro has criticized treasury secretary stephen mnuchin for saying the u.s.-china trade war is on hold. navarro said the comment was "an unfortunate soundbite" and says washington is involved in a trade dispute with china, plain and simple. he went on to say the u.s. lost a trade war long ago when china joined the wto. >> that was an unfortunate soundbite for two reasons. number one, what we are having with china is a trade dispute, plain and simple. a $370 billion trade surplus with us, which cost us over one million factory jobs a year. union expecting trade broadside from washington, after reports that trump administration is poised to impose tariff

ramy: the future in question, stephen engle, thank you very much. let's switch to financials. to leading banks are in the news today. and the other expect to face charges in australia over a share placement from three years ago. we have the very latest in sydney. details.y out the >> it is a fast-moving story. details are still stand. what we do know is that nz bank said these allegations on the proceedings that expects -- innospec's -- it inspects -- it in 2018.o face deutsche bank said they expect to face charges over displacement and we know the other two join managers on this sale where citigroup and jpmorgan. it is not clear what the allegations will be detailing.

for more, ramy inocencio with the recap of the big movers.y: greet across the board, and taking a look where we ended, you can see where they issed up 1%, and the nasdaq up 1%, the highest in three weeks and for the nasdaq hi ghest in seven weeks. i want to show you the imac function and the health of the 11 sectors. you can see energy is up by 2% and the biggest jump for the energy sector in the past three months or so. financials not far behind, information-technology also up will put 4%. 1.4. the handle we're talking about is above the $71 and the and for brent crude, $77 and up more than 3% here, more than two dollars up in the past 24 hours. we are seeing this push in the energy sector, and hop into the bloomberg terminal, ice ball and energy goes so does the market. see the snp energy sector in the bars and is as close sector ise energy where it is at. with that we are seeing the highs we haven't seen in the past three weeks, especially with the nasdaq up in the past seven weeks. haidi: credit also has to go to .he financials help bring

ramy inocencio year has the details.e number for e-commerce as you wanted out, , and that is up from the 23-24% of that was in the fourth quarter last year. but it is not as good as what the company was hoping for for the full fiscal year. let us happen to the bloomberg terminal so we can show you this.we stand on 32% is where we are, but actually, we can really see it on here, it is a bit small -- 40%, is what the fiscal year is supposed to be for the guidance. so we are clearly still seven percentage points off that. with that said, looking back at the fest barts over the best year or so, we are coming off that did. because when -- coming off that dip. when the new ceo of jet.com came in, he pulled in e-commerce and it has been booming. also, the brand that they bought come up on bus was scooped up by the company. you can see the numbers that dropped, the earnings per share inusted by a couple of cents there, the estimate was 1.12. billion,as a most $123 and same-store sales were amiss, two .1%, versus an estimate of 2

ramy: that is right.ke a look at my first bloomberg terminal chart, you can see where we are right now. 1.55 5 million barrels is the venezuela inom this past month for april. looking back one year, that would be right here. that is almost 2 million barrels. we are seeing a cut of about 500,000 barrels. barclays is expecting this to fall even further than the next few months with those u.s. sanctions starting to take a little bit of a bigger bite. 1.5 million is where we are now. they are expecting us to hit maybe one million or so. adding to this is the words from the iaea executive director on bloomberg television. he was telling us that he is talking to other governments, other countries to try to find more supply out there. this is sort of a testament perhaps that he thinks this could be in it for the long haul. that is one thing. venezuela's will production. one other thing i will talk about is not venezuela. my next bloomberg terminal chart. this one is talking about the baker hughes rig count. risi

let's get you up to first word news with ramy inocencio. ramy: thank you and good morning.rump administration says it is putting the potential trade war on hold after making progress with china on reducing the deficit. treasury secretary steve mnuchin says tariffs against asian are pod.use -- beijing are on they talked about wide-ranging tariffs of up to $150 million, and beijing said it would return kind. trade warputting the on hold, so we have agreed to put the tariffs on hold while we try to execute the framework. the president has been very clear since the first meeting with president xi in their a lago. -- in mar-a-lago. we have an agreement with china that they will substantially agree to it. ramy: to new zealand, the kiwi dollar slipped after the country's retail sales posted their smallest gain in three years. first quarter sales excluding inflation expanded .1% from the previous three-month. that was against forecasting the 1% gain. fourth-quarter sales growth was 1.4%.d down from 1.7% to the former malaysian prime minister will be formally questioned about the 1m

ramy inocencio has more on deutsche bank. in total, that number is 7000, but according to people familiar, it can be as much as 10,000, representing about 10% of all the jobs currently existing at deutsche bank. there is a lot of investor wrath at the annual general meeting in germany as well as the share prices, down 4.8%, the lowest since september 2016. based on all of this, it could be too little, too late because there is a lot of frustration and anger, not just over this most recent aggressive attempt at cost cuts, but over the past four or so ceo's. but the new one, who just started in april, tried to dissuade those fears. take a listen. >> let me state quite clearly. we are committed to our corporate and investment bank and we are staying international. we are active in more than 60 countries. that's the way it's going to stay. cuts now, 25% of those job are actually coming from the equities trading visit and that got my first bloomberg terminal behind me. you can see the performance of the business. ever since 2013,

ramy: when i think of ireland i think of tax break.have a role in pushing you there? question, a very good ireland has a very attractive tech system, especially for manufacturing. is that compared to china labor costs are significantly higher, but the tech spec will help us get closer with the margin -- the tax break will help us get closer with the margin in china. yvonne: that is our exclusive interview with chris chen speaking to ramy there. a quick check of business flash headlines, profit rising income the senaterank for in the $2 million the lender says the credit so especially with costs on nonperforming to 12down 49 basis points points and the interest margin of 1.84%. jumping,aft shares exiting analyst estimates with revenues of $6.3 billion, early missing projections and sales in the u.s. where they generate 70% of revenue dropped 3.3% and chairs were hammered last year's sales. national australia bank notes is a selloff in asset management business, the lender says they are targeting a separation of the 50 two in fund manage

thank you very much, ramy inocencio in hong kong.ia, our cross asset analysis is here. the trade war is apparently on hold for now. that is pretty welcome news for much of asia. welcomingit is very for risk assets in general. we have seen, i think you mentioned the meetings that are higher at the open. it is not just be all goes that thatriving those -- algos are driving those are we have reaction to the aussie dollar which also jumped up and stowed -- so did the kiwi dollar. that is important because it signals part of what will go on is the u.s. dollar is going to go down. we have had such a problem with emerging markets recently and a big part of that has been the trade as well as the u.s. yield, so if you have the u.s. dollar declining, that signals risk assets are free to go up. pressure will come off emerging-market currencies across asia, and such an export dependent place as asia, everybody will be happy to see this cloud at least fullback, which is what is going on. what are the longer-term implications for markets when they

ramy inocencio explaining that.they are seeing theramy: first net loss ever since 2009, almost a decade . the number is $1.14 billion. i want to show you this on our bloomberg tv chart. you can see here what you are looking at, on the right-hand side of the screen, i am wakeling it around -- wiggling it around, the last time was 2009. you wondered what happened here, this big thing. that was thanks to the overhaul, that was a distortion. now we see this distortion as warren buffett put it, severely distorting net income figures, leading commentators as investors said back in february. we are talking about how he is he is likeof omaha, the wizard of oz. the wizard of omaha because he is basically saying pay no attention to the accounting changes behind the curtain. he is saying go ahead and look at the up rating profit. i will show you this year. go look at the bloomberg terminal. what we saw, we see this huge gain in terms of the first quarter 2018. this is 49% from the quarter billion.ear to $5.3 mr. buffett is say

ramy: i am ramy inocencio in new york. the u.s. korea move ever closer to that summit after high-level talks right here in new york.

rami ruhayem, bbc news.e environmental harm caused by plastics. in kenya they introduced strict laws eight months ago, penalising the production, use or sale of plastic bags. violators can face fines of almost $40,000 or be jailed for up to four years, and inspectors patrol the streets daily. virginia langeberg reports. on the streets of nairobi this is 110w on the streets of nairobi this is now a daily site. inspectors on the hunt against plastic. at one point they chased us away with knives. now they chased us away with knives. now they are good friends of ours, now we are friends. other than this, compliance is good. any grace period is now well and truly over. in recent months ten butchers from one meat market were arrested after piles of rustic were found, and the hardline approach is seeing results. we need to be out there to check what is happening. compliance is at almost 80%. but there is a lot to be done. we expect it will take two yea rs done. we expect it will take two years to be really plastic

rami ruhayem, bbc news. stay with us on bbc news. still to come: what to wear at eurovision.s the essence of the appalling news from rome this afternoon, that, as an italian television commentator put it, terrorism had come to the vatican. the man they call the butcher of lyon, klaus barbie, went on trial today in the french town where he was the gestapo chief in the second world war. winnie mandela never looked like a woman just sentenced to six years injail. the judge told mrs mandela there was no indication she felt even the slightest remorse. the chinese government has called for an all—out effort to help the victims of a powerful earthquake — the worst to hit the country for 30 years. the computer deep blue has tonight triumphed over the world chess champion garry kasparov. it's the first time a machine has defeated a reigning world champion in a classical chess match. america's first legal same—sex marriages have been taking place in massachusetts. god bless america! this is bbc news. the latest headlines: the us secretary of state, mike pompeo, has indicated north kore

ramy inocencio has the details.nto the dating game, the online dating game. we saw the plunge about 22% worldbecause match is the 's biggest online dating site. facebook's how business would actually play y, yout is opt in onl can't send photos, it is only text. in regards to who you can reach out to, if you are not a friend, you can talk to them. if you are a friend, you don't want to be paired up with one of your friends. on interesting thing is the privacy issue comes up, the security issue comes up in light of what has been happening. mark zuckerberg did have this to say at his conference. >> it will be in the facebook app, but it is optional. you can make a dating profile. i know a lot of you will have questions. we have designed this with privacy and safety in mind. your friends are not going to see your profile. you are only going to be suggesting people -- suggested people who are not your friends, who have opted into dating. ramy: did you notice he smiled a lot? that is a really good face to put in front of

ramy: definitely giving some support. bloomberg terminal chart you can see where production stands for venezuela in the most recent month of april. that is that 1.55 million barrels. compare that to a year ago. that is almost 2 million barrels. we see that coming off by almost 500,000 barrels. a possiblerecasted decrease further from 1.5 billion barrels to one million barrels. at the same time increasing the price forecast to $73 from its current 70 -- $70. aea director says he is talking to other oil producing countries, looking to increase production to stave off what is happening here. a little idea he thinks that this will last longer than some people might like. this is one factor supporting the price of oil. another factor, we have to look to the united states and my next bloomberg terminal. look in terms of the baker hughes oil rig count. this has been rising over the past year or so, trying to take advantage of what is happening with the oil price, locking in profits. we have seen over the past two weeks the rig c

rob rami may remember one one well by. early. on honor. is not known. when the one that's right. eight and he was awarded a. prize. each made many two thousand and eleven. so we hope will change the last. downtown ten rock rough looks like on on change as a. finally the brain is not is not that was workers quickld to your nine times i did i just i could with what i what i had. the final cut on the used to do. swings who's using tex texas has has taken. she said anything. she was killed seven seven. two teachers just. on sunday. transaction president when when i stay senior politician join join hundreds of journalists on the on the same subsidies team is being held on the. kcet they say that the death penalty. that's good because it is so you know you know coming. in the city entirely catalan. when central bank has something in. to up the line like our currency the technology centraral banks leasing a hy rosary footfall. after number emerging. and for that i think. one of the top honduran rate right by the percentage points in hotel it would help her killed. right prices. over the

ramy: and beijing trade blows with washington,

at hopefuls f from rami churches the this as a. and even then i see that this is as a liberal lolo to ppc their their old of. sort of the the say say at the. rim we pretty close off at the result of a lot of people with the same size as something that is a little bit of a. as a. hello to that he sees in the middle east. anyone. blaming the at the end. thursday and not enough local such a trying time. and of course we should should be to be illegal educational tax time with which it's to to to her hard lines in israel israel palestine is not executive our narratives as a to two diversions. all all of the key if you like you like many many media. here is a hope hopefuls mike right richard issues you not and i'd i'd like also radio. at three and so this was a political reason times threats were on by at t to e markrk. let's s explore what are we gonnnna thousand. years in e nba. sosome say. is impossible so when was of this is the british publication. drinks long larger and in a little tree things very. old according to los trump trum

betty: you are watching daybreak asia, let's get the first world news with ramy inocencio.c adviser plans to visit washington for follow-up for talks that the truck decision officials return empty-handed from beijing. willpremier deal you travel to the rest next week and each side has issued a long list of demands and the other is refusing to meet. thatberg has been told jack must financial is among companies that could soon face tougher regulation. sources say the rules would force companies and to financial industries to obtain pboc licenses and meet minimum capital requirements for the first time. in has 500 million customers lending and the government is worried it is now too big to fail. italy appears headed for new elections with rival populous parties unable to agree on forming a government. the five-star movement says it is now in campaign mode while the anti-immigrant leak call for a new vote on july 8 if there is no last ditch agreement. the president is considering a final attempt to break the two-month deadlock with a technocratic government. accusingrs for jc a

because what you see i live in cooper yes see one of my brothers lives in rami another lives in haifa and another jaffa i know absorbed by my happy are they happy living on their own no the best thing is when we're all together everyone has a country you don't think of war anything how to. live in the same home land where your father and grandfather did but you were born here and you want to die here torn. descendants of people who were expelled from their homes in eaker it and then told by these radio thornton's where to live the land was confiscated in nine hundred fifty three and now belongs to the state. meaning. good friday former residents remember relatives who've been buried at the cemetery any crits since nine hundred seventy one they also grieve for the village that they lost. the marriage was. the. issue of was. the messiest move should be in the authorities gave no clear reasons for expelling us and then we found out later that they just wanted to take the land. it's that simple ladies. no nor me we are peaceful people. we don't hurt anyone civilians or soldiers many other

north of israel lies got on home to the kibbutz contemporary dance company and its artistic director rami baer his parents were part of the group of holocaust survivors that founded this kibbutz in one thousand nine hundred eighty eight. they all wore the idealistic stay of old socialistic. group actually. even. believe in communities and and they decided to build a life and a new future in and to create a unique. society that's called keyboards that everybody shared everything and work together and share. everything and. there was born in the kibbutz his father who was an architect built the dining hall which now serves as a rehearsal space. in the early years the only ones who danced here were members of the kibbutz they danced once a week and spent the other days working in the fields or in factories. these days the kibbutzniks that got tom no longer share everything and the dancers with the kibbutz contemporary dance company are professionals who rehearse every day and the company is known around the world. done for me it's not only. pure movement and not only pure it's a static and n

naturally hardly anyone here this concert tour is all about getting to experience rami and his game of thrones music live in berlin around ten thousand people came to see the show the composer and his ensemble will tour europe until need june. and finally we wrap up the show with the fruits of spring after a long and cold winter flowers are finally in full bloom across europe and one place where the flora is truly celebrated is in zero nine in northern spain in may of every year this town turns into a paradise of flowers all courtyards private houses and churches service showrooms for floral decorations of every kind while this temporary burst of color draws and tourists from all over which is quite welcome in this sleepy little town. temp to floor the annual flower festival in the spanish city of your own oh sure is in spring time the preacher's two hundred floral artworks that graced the gardens monuments and court yards of your own as hold down. the displays are designed by catalonian florists and artists such as. these decorated the steps of the cathedral and to him that's a specia

earlier i spoke with rami khouri a professor at the american university of beirut.s, he has said similar things once or twice in the past. —— as terrible as they are. they are a function of this difficult situation he has put himself in over the last ten — 15 years in which he has shown no resolve all. he has almost all control over the palestinian leadership. he is nor with the americans. —— no longer dealing with the americans. this is all context which explains partly why he did it which explains partly why he did it which does not justify which explains partly why he did it which does notjustify it. but this is why he blurted out at these turbo things. —— terrible things. he thought maybe this was something that might get him some support. and it should not because it is com pletely it should not because it is completely unacceptable. other people around the world say this is a sign of poor ethicaljudgement and also poor political leadership. his apology was a sign that he probably realised after the fact and it was not a strong apology. it was not convincing. t

the bbc‘s rami ruhayem assess how they have reshaped the country's political, and electoral landscapeisis fighters took over mosul, iraq's second—largest city. as they advanced across much of northern and central iraq, the iraqi army fled without a fight. the prime minister, nouri al—maliki, came under intense external and internal pressure to step aside. in his place came haider al—abadi, a little known politician from the same party, the islamic dawa party. today, each of the two men heads a separate coalition and the party that's held the position of prime minister since 2005 is split for the first time. after the invasion, the world's most influential shia authority based here in najaf in southern iraq called on iraqis to volunteer to fend off the isis attack, which was threatening baghdad and even the south. a new paramilitary force took shape, known as the popular mobilisation units, or pmus. it was formed partly of pre—existing shia factions as well as large number of volunteers who were influenced by the call of arms. form the pa ramilitaries, a new political force came to be

. ♪ ramy: coming up on "bloomberg best," the stories that shaped the week in business around the worlds rates that as inflation creeps toward its target. >> i think the statement is loud and clear. mission accomplished. the big mystery out there is what is going on with wages. hurdles still remain. >> is not a takeover. it is a merger. nejra: apple's results stand up in a crowded earnings report. much removing -- much maneuvering. >>

the bbc‘s rami ruhayem assess how these major events have reshaped the country's political, and electoral4, isis fighters took over mosul, iraq's second—largest city. as they advanced to quash much of northern and central rock, the iraqi army fled without a fight. the prime minister came under intense external and internal pressure to step aside. in his place came haider al-abadi. step aside. in his place came haider al—abadi. today, each of the two men isa al—abadi. today, each of the two men is a separate coalition. it is now split first time. after the invasion, the world's most of fish —— influential shia authority based here in najaf vended off the attack, threatening the south. but force took shape. known as the popular mobilisation units, or pmus, it was formed of shia factions and large number of volunteers who are influenced by the call of arms. call to arms. it falls came to be and is 110w to arms. it falls came to be and is now one of the main alliances contesting the elections. the religious authorities in najaf however maintain their distance from all coalitions contracting —

ramy inocencio is with me for more. >> clearly we see investors are not happy when looking at the sharele, too late? we will see. it fell 2.8%. with regard to the job cuts come the number is 7000. there could be even higher job reportedly deutsche bank is trying to get themselves a little wiggle room here. with regards to keeping damage control, the new ceo who started on april 8 -- rishaad: he has hit the ground running, hasn't he? >> he has. he's trying to keep everyone happy. >> let me stay quite clearly, ladies and gentlemen, we are committed to our corporate and investment and we are staying international. we are active in more than 60 countries. that is the way it is going to stay. sayingt of analysts are this is not enough. who advises institutional banks says they need to know more strategy, need more clarity on this before moving forward. job losses,these adjusted costs a deutsche bank sill fall to 22 billion euro next year. creating longer-term value and growth is a bigger challenge, right? long running challenge, at least from 2006. hop into the bloomberg terminal. revenue, o

after is militants threatened to carry out attacks against politicians and voters. 0ur correspondent ramihayem is in baghdad, where the threat from terrorism during the election is still a major concern. you can't of course expect complete securityjust months after the end of a war like that in which so much destruction was wrought on several large cities and several areas of the country, and so many people were displaced, six million at the peak displaced, many of them have returned now, so it is about expectations, think. the iraqi authorities believe that the country's secure enough for people to head to the polls today and they have been saying that. it is of course much more secure than it was at any time for example last year, or during the fighting against so—called islamic state but, as you say, it doesn't just transform overnight. the so—called islamic state group has threatened to target these elections. the government says these threats are empty and they will not be able to do it. we will see as the day progresses. just to give us an indication of the security issues affecting

ramy: we can look at the bloomberg terminal for this.at the curbs, we can see in the blue line in your library, amazon really does blow walmart out of the water. is flipped for both ofpanies but the efficiency and -- amazon is higher. i want to put this into perspective with regards to a couple other indices. you can see in blue, amazon does blow everything out of the water. the white line is the u.s. retail index. the purple near the bottom is walmart. guess what? least of all is the s&p 500. if you were with walmart -- with amazon, you would be quite happy. if you were in walmart, i would suppose you were still pretty happy. ramy, thank you so much. we will talk about the latest inflation data in japan. this is bloomberg. ♪ betty: this is "daybreak asia." i am betty liu in new york. david: i am david ingles in hong kong. we got inflation data from japan. upluding fresh food, going on year.r still pretty far from the 2% inflation target. our guest joins us out of tokyo to discuss this. help put everything into context for us. we had gdp

ramy: this is twice as bad as expected. i want to show you this against the backdrop of history.s, here we are in the bottom right-hand side of your screen. while $.1 billion for a net loss. the first quarter of 2009 on the left, you're probably wondering with his income a white bar is. this is the fourth quarter last year. this is thanks to the tax overhaul. this is something that i am at.ing mr. buffett is trying to say, while you are looking at this, what i really want you to look at is the actual net operating income, the adjusted net income here. because this is what he said is the most important. this actually does not change according to new regulations. i want to show you what this is all about. we are actually seeing in the gtb library there is a plus 49% rise from the first quarter of of7 to the fourth quarter 2018. this is in part thanks to a huge insurance is this swing up in profit after a tough 2017. let me break this down for you in terms of some of the biggest divisions. for example, the railroad, the archer city, the energy and utilities units all of them came in

yvonne: thank you, ramy inocencio on the markets. it is a beat for softbank as sprint posts the first annual profit in more than a decade. we will have the numbers later this hour. coming up, more on the fallout from the malaysian election results. this is bloomberg. ♪ ♪ yvonne: this is "daybreak asia." i am yvonne man in hong kong. betty: i am betty liu in new york. mahathir mohamad's surprise of victory, ending the 60 year role of najib razak's coalition. haslinda amin has a guest with her. what is the mood in the streets right now? >> it is hard to say what the mood is, but prior to this we saw lots of people still in the streets. mind you, it was 5:00 in the morning. some anticipation what the change could mean. our guest joins us this morning. good to have you with us. obviously, malaysia voted for change in this is just the beginning. guest: overwhelming, a swing in vote in the constituency, at least 20%. even though voter turnout was down, many traditional did not come out to vote. they could not stomach voting for najib as th

rami, it seemed like good news to the production target?s of a lost than expected, but if you asked me that question 30 minutes ago, i would have given you a different answer. is on musk is in a office, and refusing to answer questions, which is a first for him, and investors are not likely that. the past half hour shares are down there percent, and now down closer to 6% at this is clearly a price that is extracted from elon musk and what he is saying. these questions are so dry, you are killing me, and elon musk makes jokes on twitter, saying bankrupt, and investors not happy about this. yesterday earlier, i would have for thet the visibility second quarter production and third-quarter production is not as clear as investors would actually like, because they are saying 5000 units a week. they're also saying this is exponential growth so they can't give an exact number. have paraphrased is we are going so fast we don't know, but investors don't like that. look at the top lines here. they are bees across the board, adjusted eps less of a los

ramy inocencio in hong kong. known as they be land of camel milk and honey. we will find up next. bloomberg. ♪ ♪ betty: good morning. i am betty liu in new york. haidi: i am haidi lun in sydney. you are watching "bloomberg daybreak: australia." got milk? that is.k, look no further than australia. farms are tapping into a burgeoning global market. our agricultural editor has the milk of a market in camel in australia. growing, but africa is still far and away the biggest market for camel milk. somalia just dominates. it is growing in popularity because of health claims about it, and it is higher in vitamin c and iron. haidi: the hipsters would be all over it. where is the demand coming from? >> africa, singapore, but the reason why there is such an opportunity and australia is australia has the biggest wild camel herd. camels are pretty wild anyway there aree time, but israel e-make camel milking machines, believe it or not. it is almost wild camels that make it. our street potentially the saudi arabia of camel milk. it seem like you had a bloomberg reporter try camel milk. what do

rami malek stars as lead singer freddie mercury... who died in 1991 of aids-related complications. celebration of queen... their music and their extraordinary lead singer." "bohemian rhapsody" hits theaters november 2nd. ( darya ) coming up in the next hour... breaking news out of the east bay... where the c-h-p is investigating a crash that killed 3 people and injured 5 more. ( darya ) plus... a fairfield father accused of hitting and shooting his 10 children with b-b guns is speaking out from jail... as his wife gets ready to go to court. ( darya ) and... people in oakland are sending a strong message to law enforcement... after a woman calls 911 on a family barbequeing at lake merritt. ( james ) breaking news out of the east bay... 3 people are dead and 5 others injured in a multi-car crash in fremont.( darya ) that crash happened near the stevenson boulevard exit. a section of northbound 880 is closed. kron 4's will tran is live at the scene.. will. three people are dead after a multi-car crash in fremont. it happened last night on northbound i-880 at stevenson boulevard. 5 add

actor rami malek will play lead singer mercury, who died in 19-91 of aids-related complications.the film, quote, "foot-stomping celebration of queen.... their music and their extraordinary lead singer."it is scheduled to be released november second. a very special moment for one oakland a's player tonight in boston... first they had to wait though a 1- hour and 42-though a 1-had to wait though a 1-hour and 42- minute rain delay at fenway park... but in the top of the 2nd... a's already up 2- 0... steven piscotty... his first at bat since returning from berevement after his mom passed away.... hits a solo home run... over the green monster and out of fenway... piscotty... tapping his heart as he reaches home plate... all high-fives from his teammates in the dugout... 3-0 a's top 8th... 3-2 a's...mark canha... slaps one into the left-field corner... khris davis and matt chapman score on the 2-run double... 5-2 a's final score... 5-3 a's... they go for the sweep of the red sox tomorrow night the giants snapped cincinnati's 6-game win streak last night... and going for two straight against t