rosalind: welcome back to "bloomberg best." i'm rosalind chin.let's revisit more of bloomberg television's conversations from the 2019 milken institute global conference, starting with jason kelly's interview with the blackstone chairman and ceo, steve schwarzman. jason: what is your one big takeaway from china right now? you have invested there and done a lot of philanthropy there, what is the thing people are missing about china? steve: china has stimulated its economy like they said they would when the tariffs when in. i was there three or four weeks ago. the people at the central tank were telling me that it works very nicely, and now you are seeing the result of that, which is surprise. certain commentators say china's economy looks pretty solid now, in the sixes, 6% growth. i think that would have surprised some other people. did not particularly surprise me. they had the ability in china to really force money into their system, to create growth. they are doing it, and it has been successful. jason: and are you putting more money into china

rosalind: this is bloomberg. ♪ rosalind: this is "bloomberg best." i'm rosalind chin.et's resume our roundup of the week's most interesting earnings reports. standard chartered was one of many european banks in the spotlight. the bank had good news to share with investors. >> standard chartered buying back ordinary shares for the first time in more than 20 years. the purchase plan comes weeks after settlement between the bank and u.s. regulators over violations of iran sanctions. how significant is this? >> i am not sure any business ever finishes a journey. we have made strides forward, foundations, the -- in restoring the foundations, getting the business back to growth. the financial returns not yet where we need them to be, but the last quarter was further evidence we are making progress down that route. >> santander, spain's biggest bank, compensated for a more challenging environment. net income came in a little lower. i have got italy coming out of recession, germany under pressure. how would you describe the spanish market to me? >> the banking environment in e

manus: rosalind, thank you.abia's first day as officially recognized emerging-market was not great. arabia todded saudi its main em index, but the bonanza died down after the markets hit a fresh wave of risk aversion. meanwhile, south african stocks have also suffered a record series of outflows after the international investors. joining us is jaap meijer. welcome to the show. we have seen this splendid moment in terms of volume. this is the moment of inclusion. this is passive money, absolutely personified. what happens next? back att's take a step what happened over the last few days. we saw the 7 billion inflows. there were a lot of guys who were active ahead of the index flows to the tune of about 3 billion. about half was observed by florin outflows -- foreign outflows, and the other half was supplied by high net worth individuals. what we saw yesterday was a correction of the increase. think going forward, we are not positive. we are becoming more negative, and we can't close our eyes to what is happening

rosalind: the bank of england meets as brexit talks continue, the u.s.hina hold another round of trade discussions, and investors digest the latest u.s. jobs rep

rosalind: the bank of england meets as brexit talks continue, the u.s.hina hold another round of trade

rosalind chin in hong kong, thank you.coming up, have investors finally had enough of outside government debt and ballooning deficit? the u.s. treasury holdings weakest option in a decade. we discuss why, next. this is bloomberg. ♪ nejra: this is "bloomberg daybreak: europe." i'm nejra cehic in london. manus: i'm manus cranny in dubai. equities are being roiled again forward. the asian equity sitting a two having month low. money flows into yen and a lovely chart hanjin- . -- yen-yuan. vol is spiking. nejra: the 10 year yield moves lower by two basis points, 2.47 handle. be concerned should we about the auction yesterday? the dollar gaining against. -- against peers. oil on the back foot. crude was pushed higher yesterday but we are lower today. let's get the first word news with rosalind chin. to price uber is due shares for its ipo today. still expected to be the largest listing this year, but unlikely as big as initially thought. the company is considering pricing chairs -- shares slightly below the midpoint of its rang

rosalind p. walter. barbara hope zuckerberg. corporate funding is provided by mutual of america-- designing customized individual and group retirement products. that's why we're your nt company. additional support has been provided by: and by the corporation for public broadcasting, and by contributions to youpbs station from viewers like you.o thank from the tisch wnet studios at lincoln center in new york, hari sreenivasan. >> sreenivasan: good evening and thanks for joining us. palestinian militants in ga launched hundreds of rockets into southern israel-- and israeli defense forces continued to retaliate with airstrikes on the hamas-controlled territory today. e were casualties on both sides in what is now one of thee liest flare ups since the 2014 war between hamas and israel in gaza. helen keenan of itv news has the latest. >> reporter: israel firing back after more than 400 palestinian airstrikes- in what they say were a provocative act that left an israeli man dead, when rockets hit his he this, the damage caused by thos

rosalind p. walter. barbara hope zuckerberg. corporate funding is provided by mutual of america-- designing customized individual and group retirement products. that's why we're your retirement company. additional support has been provided by: and by the corporation for public broadcasting, and by contributions to your pbs rstation from vieike you. thank you. from the tisch wnet studios at lincoln center in new yorken hari sreivasan. >> sreenivasan: good evening and thanks for joining us.da it's the seconof president trump's state visit to japan, a day" called "productive but in a tweet about north korea early in the morning, he seemed tosee at odds with both japa prime minister shinzo abe and members of his own administration." north korea fired off some ndall weapons, which disturbed some of my people,thers, but not me." the president also seemed to embrace north korean chairmanm ng un's criticism of former vice president joe biden as being "a loi.q. individual." in an interview today, white house press secretary sarah sanders

rosalind p. walter. barbara hope zuckerberg. corporate funding is provided by mutual of america-- designing customized individual and group retirement products. that's why we're your retirement company. additional support has been provided by: and by the corporation for public broadcasting, and by contributions to your pbs station from viewers like you. thank you. ch from the tnet studios at lincoln center in new york, hari sreenivasan. >> sreenivasan: good evening, and thanks for joining us. athe united states and ir continuing their tense standoff nder the trump administration's economic sanctionsehran's threat of stepped up uranium enrichment. the u.s. isending the aircraft carrier "u.s.s. abraham lincoln" to the persian gulf and ditional b-52 bombers to counter what the trump administration calls "clear indications" of stilld unspecifreats from iran. sranian media quoted a senior commander of ira revolutionary guard today saying that the presence of u.src ft carriers in the persian gulf is not a threat but an opportunity and

rosalind p. walter. barbara hope zuckerbg. corporate funding is provided by mutual of america-- designing customizedndividual and group retirement products. that's why we're your retirement company. additional support has been provided by: and by the corporation for public broadcasting, and by contributions to your pbs station from viewers like you. thank you. t fr tisch wnet studios at lincoln center in new york, hari sreenivasan. >> sreenivasan: good evening, and thank you for joining us. president trump's planvert billions of dollars from the defense department to fund construction of barriers and walls on the u.s.-mexico border is partially stalled aurer a federal ruling in northern california last night. u.s. district jue haywood gilliam jr. granted a preliminary injunction halting the redirection of milary funds to two projects that would add 51 miles of barriers iniz yuma, a and el paso, texas. gilliam is overseeing two s lawsuits filrtly after the president declared a national emergency at theorder. that followed a two

rosalind p. lter. barbara hope zuckerberg. corporate funding is provided by mutual of america-- designing customized individual and group retirement products. that's why we're your retirement company. additional support has been proved by: and by the corporation for public broadcastin and by contributions to your pbs station from viewers like yo thank you. from the tisch wnet studios at lincoln center in new york, hari sreenivasan. >> sasan: good evening, and thank you for joining us. anting defense secretary patrick shanade his second trip to the u.s.-mexico border today,he promisinill accelerate plans to secure the border and arnd a way to return enforcement to the dent of homeland security. shanahan said that the military" t going to leave until the border is secure." but he also told reporters that active duty and national guard oops deployed to the border will not be staying indefinitely. more than 4,300 military troops are on the border, supporting customs and border protection agents. yesterday, shanahan announced that

rosalind p. walter. barbara hope zuckerberg. corporate funding is provided by mutual of america-- designing customized individual and group retirement products. that's why we're yourre rent company. additional support has been provided by: and by the corporation for public broadcasting, and by rcontributions to ys station from viewers like you. thank you. from the tisch wnet studios at lincoln center in new york, hari sreenivasan. >> sreenivasan: good evening, and thank you for joining us. in venezuela today, the majority of military and security forces continued to back president nicolas maduro. meanwhile, u.s.-backed opposition leader juan guaido called again for the military to join him. president maduro visited a military base to rally support r his regime against opposition leader juan guaido. >> ( translated ): we say to the traitors, to the coup-making oligarchy, to imperialism, the slogan that marks this historical time. let it be heard even in washington: "loyal forever." >> ( translated ): never traitors! >> sreenivasa

i'm rosalind chin. this is bloomberg.about that miracle. for more on the market impacts of the elections in australia and india, we are joined by our mliv strategist, mark cranfield. for the aussie, is it the same going forward? the problems facing morrison are the same as the other prime minister's. quick whenbe pretty people look past the australian election. we see that this could stop the revolving door. >> maybe, but we have heard that before in australia. there are much more significant things going on in australia, just because the government is coming back isn't to say they can do a great deal about the short-term impact on the economy. it's a lot to do with the global economy and china and factors in the property market, still trying to find a bottom in australia. there's a lot of other things going on which will not be solved immediately. the big thing is what happens with china. >> there is pressure for the rba to cut rates -- when and how much? >> we should get clarity soon afterwards the rba government will m

. ♪ ♪ this is "bloomberg best," i'm rosalind chin.al tour of the week's top business headlines. in spain, the incumbent prime minister survived a snap election. ♪ is set to return as prime minister, this after the third election in four years. the socialist leader has closed the majority, but could still rely on capitalists and separatists. >> in a comeback for him, we have seen this time and time again, he has to two kind of paths he can take. this would be seen to the market as something very stable, and investors would certainly want to cheer for this, but the problem is that he says he campaigned on the fact that he would not do a deal with sanchez. likely, is more teaming up with the antiestablishment put amo party and they would have to have a hodgepodge of other regional parties which would mean reaching out to catalonian nationalists. you know we have those european elections at the end of may, so we will not see a government take place for at least a month. ♪ >> china's official manufacturing pmi slipped in april, barely maki

rosalind: it can weaken both of those parties., some on the left, joe biden more to the center. we will see some really strong campaigning within that field and against each other. that, how much to those candidates focus on what is going on in washington and donald trump, and how do they use that as a platform to put policies forward? francine: if there is one thing, the iran thing tom was asking about, they were expecting europeans to apply, but is it -- but does it almost give victory prove -- to president trump? notlind: rouhani says he is walking into a trap. the u.s. provoked him into a response. does that give him the opportunity to escalate their actions? it puts europe in a difficult spot, rouhani saying unless you make it possible for me to sell my oil i will act in 60 days. what is the patient's on that and does that put rouhani further in a corner? francine: let's get straight to the bloomberg first word news. kailey: u.s. attorney general william barr is raising the stakes in his battle with congressional democrats, t

rosalind p. walter.

rosalind p. walter. barbara hope zuckerberg. corporate funding is provided by mutual of america--

rosalind: there is a sympathetic relationship that goes back for a long period of time.regime to the types of administrations we have seen in cuba, and the allegation is that cuba has up to 25,000 troops in venezuela supporting maduro. ,hat is something cuba denies saying they have humanitarian workers there and that is it. donald trump is training his attention on cuba, threatening a trade embargo unless they pull those troops out. the relationship between cuba and venezuela runs deep and goes back many years prior to the trump administration. francine: what do you make of the claims from mr. pompeo that nicolas maduro tried to escape to cuba but that was denied from venezuela? do we know anything about russia involvement? rosalind: the russians have come saying itnied that, is ludicrous that they convinced nicolas maduro to not get on a plane. that is not true at all. russia has long-standing commitments to the ventura regime financially and other -- maduro regime financially and otherwise, and have supported him for many years. signals are coming at is not just about

know with a piggy bank that everybody steals from including china let's go now to our correspondent rosalind jordan she's joining us live from washington d.c. so what are the talks now although an employment runs with another hike and tower of snow coming. well the talks were supposed to have gotten underway at twenty one g.m.t. or five pm local time and as far as the know that there is a working dinner underway between the u.s. trade representative robert light hisor and his chinese counterpart new this supposed to be a working dinner not one filled with formalities because they have a lot of work to do it's not just trying to a see if they can conclude a trade deal it's really now according to most observers and some people within the white house an effort to try to keep these negotiations on track to not let them actually collapse but that said elizabeth unless the president changes his mind in the next four hours some new tariffs will be taking effect at twelve o one am local time or zero for a one g.m.t. and that would impose a twenty five percent tariff on some two hundred billion doll

course this is the man that particularly democrats in congress have been very keen to hear from rosalind essentially reiterating what was in the report that trump is not being cleared of obstruction charges what was the purpose of this statement today. well basically mario meant was a well known although not quite expected that at some point robert mueller would be closing the special counsel's office resigning his position at the justice department and returning to private life well that sensibly is why he had this a press announcement it really wasn't a press conference on wednesday that said it job basically has created shock waves across what we call official washington for more than 2 years robert mueller has not spoken about his investigation into charges russia interfered in the 2016 u.s. presidential election a wednesday moeller told reporters this will be the 1st and last time they and congress will hear from him any testimony from this office would not go beyond our report it contains our findings and analysis and the reasons for the decisions we made we chose those words caref

rosalind p. lter.acorporate funding is provided by mutual of america-- designing customized individual and group retirent products. that's why we're your retirement company. additional support has been provided by: and by the corporation for public broadcasting, and by contributis to your pbs station from viewers like you. thank you. be more. pbs. narrator: on this episode of "earth focus," climate change is forcing people to migrate in search of food and shelter, altering traditional lifestyles across the globe. in tijuana, mexico, haitians fleeingva ation are building a neighborhood as their dreams of entering t united states dwindle. while in mongolia, the traditional herding festyle is threatened as drought forces a new generation to the capital in search of opportunities.

so rosalind a standard talks are on the way any news of what might be coming out from them. so far nothing to report from those talks which are taking place at the offices of the u.s. trade representative robert light ties are those talks to get under way in the past hour barbara but certainly there is this growing sense here not just in washington but in new york as well where investors do their trading on wall street that the new tariffs a twenty five percent tariff on some two hundred billion dollars worth of goods will be coming into effect at twelve o one am eastern time here in the united states and the chinese government has already said barbara that it plans to respond in kind if this increase in tariffs does go through. and just tell us a little bit about the way that it's perceived really the way that donald trump has been very publicly criticizing china accusing them of backtracking they of course denying but what's being made of in washington and new york all of that strategy of his of dealing with the chinese. well there's a real sense that certainly among those

survived by his wife and biographer blanche d'alpuget and his three children, susan, stephen and rosalindrants to america's shores. her torch became a symbol of hope and a new life for millions. now a new museum has opened in lady liberty's shadow, telling her story. the bbc‘s nada tawfik paid a visit. towering over new york's harbour, first lady tea is a iconic symbol of freedom with her torch of enlightenment and tablet ofjustice. this view is similar to the one seen by many thousands of immigrants... millions travel every year to liberty island to visit the national monument and now they can experience it like never before with the opening of the new statue of liberty museum. politicians and dignitaries celebrated its grand unveiling, a moment they've waited three years for. this museum, like the statue of liberty itself, is a beacon of hope, of unity and of understanding. every ship coming and going well past the statue in the harbour... guests will start their tour by watching three videos on the statue of liberty's history and significance. she was a gift from france to celebrate th

rosalind p. wa barbara hope zuckerberg. corporate funding vided by mutual of america-- delgning customized individ and group retirement products. that's why we're your retirement company. additional support has been provided by: and by the corporation for public broadcasting, and by contributions to your pbs station from viewers like you. thank you. be more. be more. pbs. ed: okinawan soba, not to be confused with japanese soba, is a perfect blend of soup, noodles, and pork spare ribs that embodies the spirit of this island people. join me, ed kenney; and my friend hisae uki as we journey to her omeland of okinawa. join me, ed kenney; ere are so many reasonswhy . every dish has a story. food brings people together and has the power to conjure up cherished memories. i was born and raised in the hawaiian islands, onmmof the most diverse ities in the world. in this show, we'll meet a guest from hawaii, learn about their favorite dish, trace it back to its origins, and have some fun along the way. announcer: major funding for "

ieson.s rosalind math alix: is that how it is going to be for everybody now? that's unfortunate.al headlines also bubbled up in headlines over the weekend, from argentina to india's never intro modi -- india's narendra modi. >> we've been very selective in emerging markets. >> emerging markets is not homogenous. this is an evolving story, so it is careful to not overreact. >> there are a lot of emerging market economies that are domestic demand driven. a few places are brazil and south africa. >> the biggest beneficiary is going to be taiwan, and then southeast asia. >> we don't expect a big impact for them. >> we are interested in places like brazil. a lot of reform going on there. and india. those are two countries where you will not be very much affected by what is happening in china and the trade disputes. alix: joining us now is sean taylor, dws chief investment officer for asia-pacific equities. dws is part of deutsche bank. thank you for joining us. we will start off with india. do you want to buy on this election happiness? guest: we've already been position for the elect

interests in the middle east but without providing details let's get more on this our correspondent rosalind jordan is joining us live from washington d.c. the u.s. sending more patriot missiles to the region roles just moments after the pentagon actually removed several patriot missile batteries from the middle east. well this is not an instant deployment as it were or the vessel in question was already in the region as part of the us is a continuous military presence in and around the middle east and so basically what has happened is that the white house has basically given this vessel which is now part of the u.s.s. abraham lincoln aircraft carrier group and it's an additional assignment and in fact it has given the u.s.s. abraham lincoln new carrier group an additional assignment which is to was be on guard for any sort of provocative behavior from the military in iran and to be prepared to respond if that is the judgment of the white house the u.s. always has an aircraft carrier strike group in and around the middle east the abraham lincoln was already scheduled to be going through the

or made in china and then say perhaps they're not going to open their wallets after all and rosalind as we mentioned earlier at the trade talks between china and the u.s. are actually meant to be receiving were pretty much now what do you think the strategy was from the president to i guess you know make such a public issue of this when actually you could just of course head off over the talks as opposed to in a news conference. well it appears barbara that there's the public posturing in order to try to build public support for the administration's position on know what the ultimate trade agreement between washington and beijing ought to be and then there's the actual ludden go c.-h. and that takes place behind closed doors at the office of the u.s. trade representative robert like flies or what is actually discussed between government emissaries on what can be achieved in an ultimate trade deal and what can be achieved certainly there is the thought that if these higher tariffs go into effect that it might hearten beijing's position and that beijing might not be willing to up perha

rosalind chin has the first word news. >> president trump has issued an executive order banning the purchasef iranian iron, steel, aluminum, and copper. this ratchets up tensions with the islamic republic. he says it is aimed at preventing them from developing nuclear weapons. meet allbia plans to oil orders from customers who used to buy from iran. reduction is expected to remain below the kingdoms ceiling. corporate debt market will suffer massive losses of the world's largest economy falls into recession. it is according to steve eisman. he predicted the collapse of subprime mortgages before the financial crisis. >> the system of the u.s. is safe. that doesn't mean we won't have a recession. a recession, i think it will be massive losses in the bond markets. that will be the problem of the people who invest in the bond market. africa has started counting the votes from yesterday's elections. opinion polls point to an outright victory for the african national congress. could emboldeny critics. the final results are expected this weekend. day.l news, 24 hours a powered by more than 2700 jou

mississippi and ohio all of them facing legal challenges let's get more on what's happening correspondent rosalind jordan is live for us and washington d.c. talk us through why these little wasn't being implemented being pasta now draws well elizabeth ever since the u.s. supreme court decided in 1973 in the case roe v wade that abortion was illegal in the united states there have been efforts to curb the availability of abortion and to restrict when people could actually go to a physician and obtain the procedure this particular idea of making abortions illegal once a fetal heartbeat has been detected well this high this legal idea has been in the works for about years and it's only this year that you're starting to see state legislatures actually try to introduce the legislation and then get it signed into law so this is been an ongoing process for more than 40 years but of course the whole purpose of trying to pass these sorts of laws with all of these restrictions is to try to get one of these laws to be reviewed through the u.s. court system and ultimately before the u.s. supreme court which t

whether it's in terms of tax returns or other financial records that they are seeking they've also as rosalind jordan reported been trying to get testimony from robert mueller but he has made it very clear that he does not wish to testify that his testimony would not add anything to his 400 page report and that in his words his works for itself what i think is also interesting as we listen to robert muller in the last few moments this is the fact that he also defended his work in its integrity we've long heard particularly from republicans accusations that perhaps this was a partisan investigation by the special counsel that in some way during the 2016 presidential election that the justice department the f.b.i. had been weaponized against the trunk campaign he didn't elaborate except to say that he felt that his investigators had acted with the highest of integrity so it's very clear that this is a man defending not only their efforts and the conclusions but also desiring to not continue to be in the public spotlight now in terms of white house reaction it's still too early we've not had any