and renault-nissan-mitsubishi alliance.uring his rise to the top, he earned some telling nicknames, after returning the company to profitability and rescuing nissan on the edge bankruptcy. now, ghosn faces the next challenge, the auto industry and the future with electric cars. today on "leaders with lacqua," we meet carlos ghosn. why do we have so many car companies? carlos: it is getting diversified. the car industry started very local. you have the europeans in europe, the americans in the u.s., and japanese and japan, -- the japanese in japan, and now we are becoming global. that is one of the reasons for which we had so many in the beginning and you will have much less in the future. francine: at the moment we have 20 global car companies, 20 chinese companies, 20 makers of batteries. how will that change? carlos: you will see a consolidation in china. there are lots of rumors that china would like to regroup --panies into a view global into a few global champions. also, a consolidation of the global level, and the fir

i consider renault is doing well because after the financial crisis, for the last 10 years, renault hasp in terms of growth and profit. i consider mitsubishi is doing will not only because the turnaround is quick, but because we are planting the seeds to make sure three years, four years down the road, the company will continue to grow. if you have this mentality that i don't go for the quick fix, the short-term commodity you have to solve the short-term them about at the same time you keep your sites on the longer-term and plant your seats on the longer-term them and no matter the cost of the seats on the shorter term. francine: have you ever had a bad day in the office question mark carlos: sure. francine: how did you get over it? carlos: i am used to it. when you are charge of many companies coming your happy when there is only one crisis. you usually have many of them. you get prepared. you learn how to detach. not being in different or passive, but active and detached because you know you cannot take everything apart. it is a kind of training. it is a training by doing. francine: i

i consider renault is doing well because after the financial crisis, for the last 10 years, renault hasn moving up in terms of growth and profit. i consider mitsubishi is doing will not only because the turnaround is quick, but because we are planting the seeds to make sure three years, four years down the road, the company will continue to grow. if you have this mentality that i don't go for the quick fix, the short-term commodity. obviously you have to solve the short-term, but at the same time you keep your sites on the longer-term and plant your seeds on the longer-term, and no matter the cost of the seeds on the shorter term. francine: have you ever had a bad day in the office? carlos: sure. francine: how did you get over it? carlos: i am used to it. when you are in charge of many companies, you arehappy when there is only one crisis. you usually have many of them. you get prepared. you learn how to detach. not being in different or passive, but active and detached because you know you cannot take everything apart. it is a kind of training. it is a training by doing. francine: if y

renault is down after disappointing earnings reports. is down 6%. 12% on concerns about its contract, the u.s. defense contract. you don't see that many gainers on the stoxx 600. i would prefer to look at the movie screen. -- move screen. there is a new move screen. an updated move screen on the bloomberg. we have 529 stocks down. only 32 are up. it is a very down day for european markets. u.k. supplies to the -- this trade contractor is higher upon its earnings report. markets are opening down the. this is following chinese shares snapping a two-day rally. that leads us to today's question of the day. down,sian equities still what will happen with china? .e have caroline with us let's talk briefly about what is going on in asia. maybe there is something different. it might be something more fundamental. today is different. can we find a flaw in china? what is needed? volatility is going to stay for a wild. in terms of the reaction the chinese stock market has had -- year to date, we think they'll -- there will be conflicts. we still hav

for a new renault car, regardless of what type of engine the new model has.g—haulflights from uk airports earlier this year, including sta nsted to the us, has collapsed. primera air ceased all operations at midnight on monday, uk time, after 1a years of operations. flights to washington and new york due to leave stansted on monday night were grounded and passengers have been told not to go to the airport on tuesday. adam mosseri has been named the new head of photo—sharing giant instagram. it comes a week after the firm's cofounders resigned, offering little explanation for their exit. mr mosseri began his career as a designer and joined facebook — which purchased instagram in 2012 — a decade ago. over to india, where the government has stepped in to rescue an infrastructure development and finance firm, which started to default on a $13 billion debt pile. it would seem it is too big to fail. 0ur india business reporter devina gupta joins us now from delhi. devina, can you describe how big a story this is in india, because it has been described as india's le

not so much nissan or renault. musk made aink elon mistake by these tweets?arlos: i'm not going to make an evaluation of somebody in the industry running his own company. -- carmakers are already under a lot of constraint. we try to make the best out of all the constraints for the benefit of our stakeholders. >> what do you think about the fact that the model 3 electric tesla quietly became number one in the u.s. over the summer? carlos: unfortunately, the u.s. is not the largest market for electric cars. today, most of the competition is taking place in china, in europe, and japan. there is a kind of lack of interest for electric cars in the u.s. not soecause there is much support for the development of electric cars. we don't see the support for electric cars that we are seeing from the chinese government or the european governments or the japanese government. but i'm sure it will come back. i'm sure it will come back. everybody is getting ready for the next phases. we are very bullish on electric cars worldwide. we made the forecast that for the 14 million

and renault-nissan-mitsubishi alliance.rise to the top, he earned some telling nicknames, after returning the company to profitability and rescuing nissan on the edge bankruptcy.

renault had a disappointing earnings report out this morning. that's a wrap of the sectors, back to you. >> the tech sector down 3.5% but we've also been focused on the developments in italy. here it could be a decision day for the european commission when it come tois to italy's budget. let's get out to willem. can you walk us through what happened in the last 24 hours and what is the likely response from the european commission today? >> a bit more context. the italian government last monday submitted what is called a draft budget plan to the european commission. that's something that all eurozone countries have to do b draft budget plan, the european commission, the executive branch of the european union has a week or so to give an informal opinion on what they see we got that last week from the two men for financial affairs inside the european commission they said they had serious concerns about some numbers they saw in that draft budget plan. some concerns about the growth estimates. we then heard conciliatory language over the last four, f

from renault to the first word news. juliette saly standing by. juliette: u.k.ister theresa may has set the brexit deal is 95% complete and has appealed to lawmakers to support her after a weekend of speculation about a leadership challenge. she told the house of commons that the majority of issues have been settled. on the brexit transition period, she said an extension might be needed, but insisted she has not committed to it. the european commission is likely to decide today whether to formally demand that italy take back, revise, and resubmit its budget, a step it's never taken before. senior eu commissioners have already stated that italy's budget is in serious breach of eu rules. italy's populist government has told the eu is willing to reduce its budget deficit next year, but says it needs to spend more now to help its citizens. later today, bloomberg television have an exclusive interview with the prime minister of italy, giuseppe conte. theident donald trump said u.s. will cut off ornate to guatemala, honduras, and el salvador as thousands of migrants c

emily: that was the renault ceo speaking with bloomberg at the paris motor show. it for this edition of "bloomberg technology." tomorrow, we will be back at the geek wire summit in seattle. do not miss our conversations. i'm emily chang. this is bloomberg. ♪

tests fox five and sales in europe fell almost fifty percent compared to last september chrysler and renault saw declines of closer to thirty percent the new worldwide harmonized light vehicle test became mandatory on september the first forcing some manufacturers to put the brakes on the livery while awaiting certification or let's talk about those new rules with all the bots out frank man so how much of the slump is down to the new emissions test so they. i think pretty well most of it up until september that they did which you could only sell these certified cars the car sales in the european union were up by about two and a half percent almost twelve million vehicles sold so it was humming along some countries in the red like italy and some countries doing very well like spain or germany of the car markets growing there but now of course the car companies are struggling with the time and effort involved to certify these cars and you can't just sort of find one model like for example the gulf of volkswagen or the may gone adreno you have to certify each type of that model with a different

ceoy: that was the renault speaking with bloomberg at the paris motor show. it for this edition of "bloomberg technology." tomorrow we will be back at the geek wire summit in seattle. do not miss our conversations. i'm emily chang. this is bloomberg. ♪ >> welcome to "bloomberg daybreak: australia." celtic: i'm in hong kong. recounting down to asia's major market opens. haidi: here are other top stories recovering in the next hour. small caps slumped to a two-month low. september was a bumpy ride for four.

you can't just sort of find one model like for example the gulf of volkswagen or the may gone at renault have to certify each type of that model with a different engine with a different transmission with different options air conditioning or not to navigation or not the different weights and this over different driving conditions different speeds so it's an immensely complicated and time consuming issue and that just means that cars don't move a lot while the certification for each of these probably thousands of different types of vehicles is still out there will it's no wonder then that b.w. says it will continue to see effects this month this month but it predicts stronger months to follow is that over to mystic. we don't really know i suspect that is because at some time the testing will be over and then customers will be able to take delivery of cars they order dealers will be able to start selling again and the market was in a good shape before this we see this by the nine months figures january to september and it's not just folks wagon saying that there's an expert and analyst fro

rounding out the top three, the ceo of renault. according to the firm that conducted the survey, many of the high salaries are unjustified. >> bosses will see their salaries increase even while the company's performance is very bad. technicolor is having problems and yet the pay of the ceo is increasing about 36%. >> over the past three years, digital media company technicolor has seen net profits slide, racking up losses of 170 million euros. it's employees are angry about the ceo's continued pay hike. >> i know that our salaries were frozen because there was no money. >> it is not normal. in the end, that is how the business world works. >> while french ceos have enjoyed pay hikes, french workers have only seen their salaries rise by an average of 4%. >> let's take a look at more of today's business headlines. the brbrish departrtment store dedevon has has -- devon numbs s reported a massive loss. the company is closing some 50 of its u.k. stores. benham's poor performance comes after -- the owner of mercedes-benz is warning of a

he holds one of the most powerful positions in the car industry, serving as chief ofcutive renault-nissan-mitsubishig his rise to the top, earned nicknames after returning the company to profitability and rescuing

brown, carden, casey, koons, donnelly, duckworth, durban, weinstein, julie brand, harris, hasan, renaulthaheen, smith, tester, you‘d all, van holland, warner, warren, white house, waiting. mr murphy. no. you‘re watching a live scenes of the us senate as this confirmation vote has taken place, we have heard a list of those in the affirmative, those who are voting forjudge kavanaugh to be the next us supreme court judge, kavanaugh to be the next us supreme courtjudge, and kavanaugh to be the next us supreme court judge, and then kavanaugh to be the next us supreme courtjudge, and then we have heard a list in the negative, we are hearing on reuters that the majority have voted in the support of the supreme court nominee, but we will get confirmation of that as soon as we can. barbara, can you explain the process here? what have we been hearing and what might happen next? the vote has finished, it is 50—48. so, judge kavanaugh has been confirmed. the reason it is 48 is because the senator from montana was not able to be present as he had to attend his daughter‘s wedding. the one republican s

renault is giving the cut jar a subtle facelift for early twenty nineteen it's the french maker's response to the growing competition in the compact crossover s.u.v. segment. has been on the market since two thousand and fifteen it's getting a more contemporary look new engines and improved equipment and it will be powered by a choice of two nice and two gasoline engines all of which meet the way this european emission standards are no as in the end said the starting price for the new cars. spanish carmaker shiite is going all out to convert a former boat fighting ring and tara going to spain for a special premier say that is rolling out its very latest s.u.v. it's the fourteenth model the car maker is named after a place in spain but see i didn't hire p.r. experts to come up with a name over one hundred forty six thousand people and one hundred thirty four countries voted on it over the internet their choice the city had to rocco aragon know what's known as to rocco back in roman times and gary comes seance freshly launched as you leave flagship was conceived and developed and is a month

last friday the german magazine der spiegel reported that american catherine mayorga is accusing renault of raping her in a los angeles hotel in two thousand and nine the thirty three year old also missed a portugal's matches last month with coach fernando santos saying he was being rested while settling into his new home in italy and one of the journalists who first reported that the right product in the games christiane who is christophe vent about this force that is to for desh beagle magazine he joins us from hamburg a welcome to the w how did you find this story. well we're a team at. team of journalists who are digging through a lot of material of the football league staff of the case it's millions of documents and this database is actually the biggest leak in sports history and we're trying to find stories that are of public interest and that we can publish about and in the beginning of two thousand and seventeen we found the first traces of this incident in june two thousand and nine between christiana ronaldo and catherine my dog and we set down and all work together and gathere

you won't get ten thousand for a small sized car that will only be for premium cars french carmaker renault has already said this morning that they will offer these kind of premium so that shows how how easy this is and it's already been tried before in twenty seventeen pretty much the same offer was made to diesel owners and it only got about two hundred thousand people to switch and trade in their cars so that wasn't that successful because most people won't be able to afford a new car despite these premiums they're going to have to look at retrofitting at getting their their car fixed and they won't be willing to pay that believing that car makers are really the ones who are responsible for making our era dirty and the other options on the table. long term all of this isn't going to be enough we're going to have to think rethink that mobility and tiredly the problem is if we have less diesel we're likely to have more fuel cars and that will mean more rise in c o two once again which the e.u. is also trying to put its thumb down on so that doesn't take care of the problem we're going to h

sport now has peter as in thank you very much the champions league is back this week and christina renault the returns to his former club manchester united forward is currently fighting rape allegations being made by a woman in the united states claims which he fully denies he trained with events are seen to rain on monday ahead of a trip to england spent six years at united and won one champions league and three premier league titles on saturday he became the first play in europe's top five leagues to score four hundred goals although the one one draw with jenner ended you venters was one hundred percent stocks of the season so as a marine you're an majesty united will be hurting from that weekend too they conceded a ninety six minute equaliser to be denied a victory at chelsea in the premier league united are second in group h. behind you ventures but they will go top if they win on tuesday the real year has just been speaking about ronaldo who he managed at real madrid. christian always on the level. he doesn't need these questions and these answers is one of the best players of all tim

friday the german magazine der spiegel reported that american catherine know mayorga is accusing renault of raping her in a las vegas hotel in two thousand and nine the thirty three year old also missed a portugal's of matches last month with coach of finance or santos a race being rested was settling into his new home in italy. one of the journalists who first reported back to write publication against christianity christophe vent about this force that is to for desh beagle magazine he joins us from hamburg a welcome to the w how did you find this story. well we're a team at dish beagle team of journalists who are digging through a lot of material off the football league staff of the a's it's millions of documents and this database is actually into the biggest leak in sports history and we're trying to find stories that are of public interest and that we can publish about and in the beginning of two thousand and seventy we found the first traces of this incident in june two thousand and nine percent of all knowledge on catherine my dog and we set down and all work together and gathered

leader and renault as has been speaking this morning she was asked directly that question and first of all she said. she wasn't going to comment on it she was going to leave it for c.t.v. politicians to comment on their internal wranglings but it looks rather like been taken aback as the rest of us have somewhat been as well by this clearly. these sort of tectonic movements within the c.d.u. will have consequences for the coalition because we know that in particular after those bad results for both the government parties last night in the state of half of that you've mentioned you know everyone is looking closely at how much life is left in this so-called grand coalition center left center right and you know whether it can really continue in a lot in the s.p.d. is saying well it may be time to pull the plug and because the s.p.d. itself is under huge pressure and the fleta and the analysis in a particular because in this election which took place in the state of has yesterday the s.p.d. it was a hemorrhage support they had the last election result in a sense a second wild war we're als

out --peugeoutsh and renault cars might be returning to the u.s. market.t in these to know before making the final decision. our bloomberg correspondent spoke with the carmakers ceo. >> this is a very timely decision because we are now preparing for our u.s. come back and of coarse, this is part of the framework that we need to know before we make the final decision, which we intend to do within the next few months. so, we are eager to listen to president trump on this matter. of course, we are darwinian at the psa group, we add depth to the conditions in which we operate and of course, we will adapt our plans and strategy to the conditions set by the u.s. administration. of course, we are eager to listen to the president. you said that psa would come back to the north america with the next few years. could this accelerate your plans? willdon't think it accelerate them because we want to do things properly. first of all, we want to learn about u.s. consumer expectations and we are already operating in the united states in terms of mobility services, in ord

and you can't just sort of find one model like for example the golf folks wagon or the big on that renault have to certify each type of that model with a different engine with a different transmission with different options air conditioning or not to navigation or not the different weights and this over different driving conditions different speeds so it's an immensely complicated and time consuming issue and that just means that cars don't move a lot while the certification for each of these probably thousands of different types of vehicles is still out there well it's no wonder then that v.w. says it will continue to see effects this month month but it predicts stronger months to follow is that. the mystic. we don't really know as i suspect that is because at some time the testing will be over and then customers will be able to take delivery of cars they order dealers will be able to start selling again and the market was in a good shape before this we see this by the nine months figures january to september and it's not just folks wagon saying that there's an expert an analyst from eve

well and thank you very much we start with the champions league and christina renault the enjoyed a winning return to his former club manchester united he set up the only goal of the game as you've been to speed united one mil let's go straight to manchester we leave a willingness to watch the game for us at old trafford lee read all the triumphant back at his old ground once again. when the spotlight was firmly on christianne over now and our guy into this guy in far off the field reasons of course he had a very good spell manchester united on the pitch and came back here won five years ago with journey's managed to do that again when you find just but the story football wise that came out of this a name was that you find to suddenly on a one month say in politics all of that goes gold i have one of the best players in europe and of course quality to all the same starting from not defense it's so solid event to something in twelve going because that dominating in italy and they took a grip on this much and will be serious contenders in the champions league this. menu still don't look convi

. >> that was renault eo speaking to bloomberg at the paris motor show.rattles european markets. investors concerned about a proposal to increase budget deficits. we will take a look at the impact on italian assets and the euro next. this is bloomberg. ♪ shery: this is "daybreak: asia." i'm shery ahn in new york. haidi: we're told italian assets are under pressure amid concerns of the populist government. the dollar pushed hires while emerging markets slid. we looking at italy as becoming something of a proxy threat, particularly for emerging markets this point? >> italy's main problem for emerging markets is its impact on the europe. it is emerging-market currencies versus the dollar tend to follow the direction the euro moves in versus the dollar. italy has hurt the euro, pushing it down to this mid-115 type of level. that has moved the dollar stronger versus emerging-market currencies. if italy has an issue and this italian war on the eu continues, and it suppresses the euro-dollar further, it will put upward pressure on the dollar versus other emergin

francine: that was the renault chief executive.sure to catch all episodes of "leaders with lacqua." the last couple of seconds we had some breaking news. , one ofan indian bank the biggest in the country, and it has accepted tundra -- a retirement request from the chief executive. we spoke to her many times on the program. you can see the share price is gaining in touch. i imagine this is on the back of hope that others will change maybe some of the lending practices they have -- practices. they have named a new chief executive. let's get back to james bevan from ccla investment management. . this is breaking news how would you view banking and the emerging markets -- breaking news. how would you view banking in the emerging markets? is it a good investment if they get stuff right? james: i think if they get stuff right is the natural transmission mechanism for economic growth and therefore a key driver for keep -- future prosperity. if banks are well-positioned and controlled the risk. of problem i would observe in a number of asi

tenemos noticias de michelle renault. quÉ pasÓ con ella? adis: ella apareciÓ en un evento.pÁ a su hijo marcelo. michelle: yo sÉ que él querrÍa ser como su papÁ. serÍa una persona muy tontas y tiro piedras al papÁ. serÍa como tirarle piedras a mi hijo. si alguna vezamaste a esa persona, nada mÁs respetable y al niÑo siempre hÁblale bien. el respeto genera puras cosas positivas. >> ella asistiÓ a una exposiciÓn para evitar el cÁncer de mama, lo que causÓ la marca de su madre. >> mi madre se muriÓ de cÁncer de mama. sÉ lo que es no auto explorarse. mi madre tenÍa unas horitas y se las dejÓ un aÑo. cuando fue, ese era demasiado avanzado. tenÍa metÁstasis y mi mamÁ muriÓ. pero si mi madre hubiese ido antes, estarÍa en esta galerÍa. ademÁs, amaba a dani. carlos: ahora aÚn estÉ mejor divorciado que casado. adis: la cara de michelle, hablando tanto -- de algo tan doloroso como la muerte de su madre y de divorcio. ella enfrentÓ la vida de la mejor manera. alan: yo estuve con ella desde hace poco y -- hace poco y habla asÍ. le entiendes . se ve relajada y tranquila pero por quÉ se di

i heard he mentioned mary renault.rted reading her in the mid 60s but she never clicked for me. i started with her book, the mask of apollo. >> i admire the mask of apollo too. i think you see her talents more fully on display in the persian -- if he wants to give it another go, james is very influential novelist. i read -- and i love the way the book was structured. as the archaeologist go down into the dig, each artifact takes you back in time and i think that inspired the way that i structured people of the book. ultimately. because in people of the book, there are artifacts that conservatives find either in the binding, like a white hair or an insect wing and they take you back to that moment in time where that thing got into the book and at the coast channeling him a little bit and i'm grateful to him for showing me how he structured the history of the jewish people, essentially through the divisive, the archaeologist working. >> speaking of structure, you start off each of your books with kind of a -- again, i wi

think the one that set me on the track to doing what i do the way i do it is the british writer mary renault who wrote about the ancient greeks. and my favorite book, i think the first covers that i read and remains my favorite, even though she has written many, many wonderful books about the ancient world is called the trojan boy. and it tells the story of alexander the great use of conquest but it tells them through the eyes of a minor player, the persian unit that was given to alexander as a gift after he conquered persia. and what she does i found some remarkable. she writes in first person so you you in the head of this young boy as he is taken from his family home and enslaved and made the unit. he suffered all that pain with him and you in a very different place. his view of what is right and wrong in many cases, culturally, huge gap stands between that character and the reader and get she connects you to them because because the human emotions are so smart and so recognizable. i think, i never got to meet her. she passed away some years ago but i think that she must have believed, as