activist investors are really kind of pushing that. >> rio tinto.ansition that pat was just talking about here. yvonne: engine number one. so, we spoke with the ceo and she said she hopes the oil giant will change the business model overall. take a listen. >> what our hope is that exxon -- david: you guys were bringing up other companies. it brings to mind when a lot of these companies are refocusing their capex away from fossil fuels and all of them are doing it at the same time, it is in most like the call issue in china, you don't have enough capex going in anyway. periodically and perhaps more regularly, we will be coming up again shortages of whether that is coal or oil and i guess that goes into the goldman call of why they think oil prices might continue to move higher as the world shifts away from capex and capacity model. yvonne: in terms of the power crunch, there are signs of easing at this point, but they are still looking at potentially more pain to come with these winter months, as well. rishaad: electricity is the future, but it is ho

you've had rio tinto, one of the great companies here, come out and say they'll be 50% down.ead. they're starting to say, actually, we've got to do this. so, i'm... it could've happened fast. stephen, bloody oath — i'm a big believer in what ijust said. let's make it happen. just one quick question about scott morrison in glasgow, and then ijust want to move on to something else. but scott morrison has a choice to make. does he come to glasgow and say australia will go far beyond what it's already promised to do, which is to cut by 26—28% its emissions by 2030? the americans are now over 50% as a promise by 2030. has australia got to go much further? look, stephen, i can only say that we can. we absolutely can. iam big industry... you're a hugely influential voice in your country. you couldn't do more than say, "we can?" you can say, "we must, and if scott morrison doesn't, i will do all in my power to bring him down." yeah, well, stephen, i'm not going to play politics here, old mate. that's just not who i am, but i can say trust a bloke not so much by what he says, but what

it follows to demolition of sites by mining giant rio tinto. last year the excavation led to widespread anger and the resignation of senior executives. the report said that aboriginal leaders should be involved in decisions on development projects, police, and have him say that a well known gang is behind the abduction of foreign christian missionaries and their family members. they were taken as they left an orphanage to the capital porter, prince. it's the latest and a wave of kidnappings which have risen dramatically since the assassination of the president and july i was 0. mike, hannah reports heavy clouds loom over the christian age ministry's headquarters in the u. s. state of ohio. the mission regroup has been operating in haiti for decades with a 9 month break 2 years ago following a previous bait of gang violence, the organisation released the following statement. we are seeking god's direction for resolution, and authorities are seeking ways to help. it continues, the group of 16 us citizens and one canadian citizen includes 5 men, 7

take a look at rio tinto, up nearly 3%. copper, aluminum, all of the metals trading higher.ngly enough, even though bond markets are closed, there are no yields to judge by on the day, perhaps it is the gilt yield for the german 10 year helping out. maybe it is just ahead of earnings season kicking off this week with those big banks. guy: talking about the big banks, jamie dimon talking at the imf right now. take a look. the mf world bank annual meeting will be kicking off. we also have charlie evans speaking tomorrow. chicago fit. the big events tomorrow and later this week or the cpi number in the retail sales number. the week has started to build up. alix: we have more coming up. the bond market will be open in the u.s.. imf world economic outlook will come out. g20 trade ministers will meet in italy. my favorite is the eu green bond sale. interested what kind of demand we will see. i cannot imagine how oversubscribed it will end up being. guy: i imagine we'll see substantial numbers tomorrow. what do we have coming up next? you and i will go to radio. alix: this is bloom

rio tinto's new ceo is kickstarting the companies turnaround with a plan to decarbonizing its assets over the next decade. he's targeting a 59% reduction in the operations emissions by 2030. surging iron or prices boosting first-half profits to a record. but it has been dogged by operational setback in the fallout from destroying an aboriginal rock shelter. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm su keenan. this is bloomberg. haidi: still ahead, more analysis on global earnings. coming up next, we get the market outlook, will see if earnings are enough to counter the looming risk. this is bloomberg. ♪ >> what we see from the inflation front is that the situation is going to get worse, and then of course we are working on pricing to make up for most of that and also internal efficiencies. >> it is very hard to get rid of deflation. so you have to air on one side or the other, you air on allowing a certain amount of inflation to take place. >> we are seeing signs of inflation,

a joint venture of multinational mining corporations bhp and rio tinto. the supreme court on friday refused once again to block texas' near-total abortion ban. the court did agree to expedite their review of appeals to the nation's most restrictive anti-choice law, with arguments scheduled for november 1. justices will focus on whether the federal government is able to challenge the enforcement mechanism of the law, which deputizes private entities to sue anyone who either performs or "aids and abets" an abortion. neera tanden has been appointed as white house staff secretary, where she will oversee which documents make it to president biden's desk. tanden was forced to withdraw her nomination to head the office of management and budget in march over lack of congressional support after coming under fire from both the right and progressives. and more information has emerged about last week's deadly shooting of cinematographer halyna hutchins on the new mexico set of the western "rust." crew members say they made multiple complaints about safety on set, wit

and rio tinto after western australia made covid vaccines mandatory from december for many workers. we do have lots more ahead. this is bloomberg. sophie: you're watching "daybreak: australia." ahead of the asia trading day the r.b.a. stick to its guns when it came to the start of the policy liftoff in 2024 but over at capital economics they say we could see early rate hikes by 2023. given that sustained higher inflation is anticipated. they predict that the surge in energy and food prices will keep inflation above the mid point of the r.b.a.'s target. next summer instead of falling back to 1.5 period as the central bank predicts. capital economics also sees second round effects emerging next year, haidi, that will lift wage growth in australia. haidi. haidi: well, even with that covid outbreak that's spread beyond oakland, new zealand central bank is expected to begin a series of interest rate increases to tame inflation and reign in soaring house prices. our next guest sees that process beginning in a few hours' time with the 25 basis point hike and we are joined by sharon zollner

cleveland cliffs i do only own the options on cleveland cliffs, and the reason that bhp and freeport and rio tinto and valle are stocks they own versus cleveland cliffs is that, you know, there's been a lot of pressure, obviously on the iron ore sector in particular and that a lot of it came from china itself again, i'm going plblame them because they did do that, scott, as well as evergrande because if you take a look at whenever evergrande was about to or thought that they would defought on either their loans to banks or payments, that's when you saw iron ore, in particular, the iron ore futures that they trade over in china, that's when you saw that bottom went from 200 to about 94 if memory serves. it has bounced back up to about 118 now, so is that a dead-cat bounce or is that a bounce that's sustainable i think now that we have a little more insight into how china will deal with evergrande and that these houses will likely or dwellings will likely still be completed, scott, but the debtors and the folks who lent that money, the lenders, i guess i should say are not going to be taken care of.

rio tinto with a gain, but we are seeing interesting ground so far in sydney.e flattening for a second day wally aussie dollar is under pressure after boosting commodity and currency. this after a four day drop trading near a three day low and momentum for the dollar is anticipated to pick up ahead of the u.s. inflation report. shery: relevant inflation continuing to be a top concern for economist like. the asian development bank a warning that accurate in developing jet art peck erectile picnic care. bespoke managing director. -- >> there's going to be upward pressure for inflation. next year is going to be 2.7%, which is well below the average for the last decade. you do need to monitor and see if it really is a transitory situation. shery: do you buy into the stagflation debate? >> that is a difficult one to call. our colleagues in the previous session have much more insight on that issue. shery: but economic growth, how could it be impacted as we continue to see reopening and more variance of the disease? >> that is a big deal for our region in asia. we pre

rio tinto's new ceo is kickstarting the company's turnaround plan with a 7.5 billion plan to decarbonizingde. he is targeting a 50% reduction in the miningrs -- the mining operational costs. the fallout from destroying a rock shelter. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm su keenan. this is bloomberg. haidi: china has promoted an official sanctioned by the u.s. in its biggest personnel reshuffle in years. it comes as president xi jinping propose to kick off a year of politicking in the communist party. this is the start of a crucial year of maneuvering. what do we know when it comes to these high level reshuffle's and approach -- and appointments? >> as you stated, it is a defiant appointment, moving the head of tibet after his stint as the head of the production and construction corp.'s. it has been cited by the u.s. and others as playing a key role in allegations of forced labor in sheehan young involving the region's weaker -- region's uighur muslim minority. moving him up as a sim