and saudi aramco releases earnings for the first time.e will hear from the cfo later this morning, don't miss it. ♪ matt: good morning from the german capital, let's take a look first at a couple of the market prices, you will see the influence trade. you might wonder why asian markets are gaining right now. thanuan fixing was weaker some may have expected and it does look like the chinese are indeed holding the yuan steady around seven. right now we see the offshore trade at about 7.1 you want to the dollar. that's why you're seeing futures up in europe and the u.s.. taking a look at your stocks futures. is $.93 and change. taking out the highs we saw in 2016, and the next move up would be the highs we saw in the financial crisis. euro-pound at a strong level. nejra: it's great you have the yuan up there. you have x central bankers from the pboc saying there could be a long currency war with china. this is driving a lot of traits at the moment day today. treasuries are closed. 175 on friday and we were lower on the s&p 500 by almost 7/10

saudi aramco is making headlines. ng a 20% stake in india's reliant industry and chemicals unit. aramco says net profits from the first half of the year phil 12% to 47 billion, this due to -- market conditions. our goal within the company is to maintain our position as the leading oil producers. -- we will we were diversify our operations and increase production. >> aramco is preparing to go public. possibly as soon as next year. global news, 24 hours a day, on air and on tic-toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. you so much. it has been an extraordinary weekend. of course, the early evening in hong kong. there have been any number of authority speaking. china's hong kong and mccall office spokesman. >> the hong kong protesters have been using dangerous tools. shown signs of terrorism. gentleman moving the headlines forward on terrorism. as we all know who have been to hong kong, the beautiful ride from the airport to the central district or th

dan has the full story. >> there's new reporting on saudi aramco's highly anticipated secondary listingwall street journal says tokyo is now a destination of choice with top saudi officials saying uncertainty in hong kong and brexit worries in the u.k. could take the exchanges off the table. the journal said it was still a preferred choice but officials cautioned him against it as critics expose aramco to u.s. litigation or disclosure hurdles. while tokyo doesn't have the liquidity of other international markets it's not necessarily a surprise front runner. japan is a major customer of aramco's crude and would offer the firm a stronger gateway to the asian markets. on the timing of a potential ipo, it's also reported that $50 billion worth of stock could be offered on the domestic saudi exchange as soon as this year with a follow on offering on an international exchange sometime in either 2020 or 2021 they have said no final decision has been made about where, when, or how any listing would take place and all options remain on the table. the timing is also of course highly dependent on

role in the anticipated largest initial public offering ever the financial times reports that saudi aramco was responding favorably to wooing efforts from the bank's chief executive and other top goldman officials the f.t. cited former trump and ministration official dina powell as a central player and goldman's efforts even as company officials hasten to emphasize the team aspect of the charm offensive the times points to ms pauwels fluency in arabic and birth in egypt leverage by diplomatic experience including her role in organizing u.s. president on. trump's visit in 2017 to saudi arabia as key factors in goldman's apparent progress before an initial attempt at a saudi aramco i.p.o. was postponed goldman had been notably laughed off of a list of banks nominated by the company for a lucrative role in the venture while rivals including j.p. morgan chase and stanley morgan were included since then goldman has built bridges with a role in issuing a ram co bonds. germany's sold 30 year bonds with a negative beeld for the 1st time in an auction on wednesday this means that investors will get

caroline: saudi aramco, no surprises after the earnings. aheading price of of a initial public offering. this is bloomberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. groupsmmigrant rights are criticizing the trump administration's new rules that cards tovide green immigrants if -- could deny green cards to immigrants if they use food stamps or medicaid. >> throughout our history, self-reliance has been a core principle in america. the virtues of hard work and d thesufficiency lai groundwork of our nation. mark: although outlined today, the new rules are not scheduled to take effect until october. the president has not decided

saudi aramco says there was only a small fire and no disruption to production. they produce around one million barrels per day, about 10% of saudi aramco's total capacity. 50 billion euros of extra spending, that's what the german finance minister says the country could muster in an economic crisis. is the first number berlin has put on a possible fiscal stimulus. while action isn't imminent, warning signs are increasing pressure on chancellor angela merkel's government. global news, 24 hours a day, on air and @tictoc on twitter. this is bloomberg. manus? manus: thank you. bloomberg, we speak exclusively to the boston fed president and voting member ahead of the jackson hole meeting. that conversation is at 6:30 p.m. london time. this is bloomberg. ♪ manus: it's "daybreak: europe." i'm manus cranny in dubai. protesters rally for an 11th straight weekend in hong kong. organizers claim 1.7 million people took to the streets and what was largely a peaceful rally -- in what was largely a peaceful rally. do you think there has been a reset by both sides? do you think

saudi aramco is making headlines today. the world's biggest oil producer is taking 81 to present stake in india's reliance industries. the company holds its first-ever earnings call today, preparing to go public as soon as next year. in the u.k., new prime minister boris johnson is accused of spending for votes, not fixing the economy. he says he will spend up to $3 billion on prisons and a crackdown on crime. he has also announced multibillion-dollar spending plans on brexit prep and the national housing service, all in speculation he's planning for an early election. in argentina, the peso plunged after a shocking primary election defeat for president mauricio macri. if the result stands in october's election, he could lose the presidency out white -- presidency out right. he's known as a business friendly president. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm kailey leinz. this is bloomberg. guy: thank you very much indeed

saudi aramco says there was only a small fire and no disruption to production. round one million barrels a day, just around 10% of saudi remco's capacity. for theis preparing possibility of a recession. calls for 50 billion euros of extra spending. the current owners aren't giving greenland up, even though president donald trump confirmed an interest in buying it. denmark says it has ruled out selling the sparsely populated island. the president calls the move "a large real estate deal." next month, president trump is set to meet with danish officials. goal ofwas a resolving the standoff after the ousting of the president of sudan. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. gupta.ika this is bloomberg. vonnie: thank you for that first word news. the commerce department announcing this morning the u.s. will renew the huawei waiver for 90 days. companies can continue to do business with huawei. this coming despite president trump calling the company "a national security

aramco attack. saudiergy minister says drones struck facilities in the southeast of the country but failed to disrupt production. yemen's rebel leader claims responsibility. gibraltar rejects the request of old and iranian oil tanker detained on suspicion of smuggling fuel to syria. washington says it's disappointed with griffin. after handling saudi aramco's bump up bond sale earlier this year, his law far in line for an ipo.

we dive into saudi aramco's earnings.is bloomberg. ♪ this is bloomberg. ♪ ♪ from the 5am wakers, to the 6am sleepers. everyone uses their phone differently and in different places. that's why xfinity mobile created a wireless network that auto connects you to millions of secure wifi hot spots. and the best lte everywhere else. xfinity mobile is a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an eligible phone. click, call or visit a store today. >> this is daybreak asia. i have the first word hair -- headlines. protests forced the cancellation of all flights monday in hong kong. hong kong is at a critical juncture and there are growing signs of terrorism. companiesate owned ordered staff at cathay pacific -- more than 200 flights canceled tuesday. days they have been using dangerous tools to impact police, serious violent crimes. they have shown signs of terrorism. formerident trump's communications director anthony scaramucci s

alix: let's talk about saudi aramco, the biggest ipo in history. everybody wants a how part of it. is the secondaries we have to be into? have lazard.ready if aramco does get what it wants, one hundred billion dollars in proceeds, potentially to trillion dollar valuation, it would be a big coup for a lot of these banks. there was a story that banks were not sure whether it was worth the pain. i love that this is so big that you have to have some banks to underwriting, and supervise the other banks. i love when you called it the hunger games. can you imagine if you are jp morgan or morgan stanley and you are not on this ipo? talk about the pain if they yank it away once again. got to try to get your name in there and get a piece of this. sonali: ever core was on before. really, jp morgan, morgan stanley working on the bond marketing for the last set of potential ipos that didn't happen yet. it is tough to not get it this time around. what are your views now? do you want to be on this kind of smaller retainer for a deal that is delayed for so long? i think there's a great hope now tha

natural gas plant several drones targeted the shave off oil field the state owned oil company saudi aramco describes the fire that was limited and says production hasn't been affected the saudi energy minister there was accused of trying to disrupt the world's oil supply top with more now from the yemeni capital sana'a. according to the hole the spokesperson says that the carried out the biggest operation deep inside saudi territories we have used 2 key draws that have crossed over 1100 kilometers to the east side of the kingdom and they have targeted this. oil field which is just. 10 kilometers from the borders of the. according to the whole of these later. he says that sends also a message to the united states to stop their attacks there on. the saudi war on yemen and also that the he says that. the saudi arabia's initiated its war in yemen order to secure itself that it should have done it with securing yemen's security 1st he also mentioned the all citizens so the stay away from the saudi. buy to strike as the promising of more vital and also. harmful after saudi arabia. now in mexico

saudi aramco posted a 12% decline in its first-half profit.hat is the world's biggest oil had semi annual results for the third time. that income was $46.9 billion in the six months, down from 53 billion a year earlier. there was a decline in the price of crude and an increase in cost. company officials say they could sell shares in 2020 or 2021. that's your bloomberg business flash. matt: thank you very much. olivia in london. protests in hong kong continue for the 10th straight week as cost is -- clashes became violent. hong kong police fired tear gas and rubber bullets to clear the streets. stephen engle is at police headquarters. what's the latest? hen: i was at police headquarters most of the morning where we are expecting another protest later this evening. it's hard to tell exactly because the protesters have taken on a flash mob approach to the road tests with a don't necessarily announce where they will be. they pop up where they feel they will get the most impact and keep police on the chase as they try to crack down more swiftly. th

saudi aramco shows it is still the world's most profitable company despite the dwindling price of oilome of $46.9 billion easily outstrips the likes of apple and amazon. the yield on 30-year treasuries drops below 2% for the first time ever. the q10 curve inverts. what does this mean for global and regional investors? as middle east markets return from the break, qatari stocks sink to a one-year low. ♪

goldman sachs is conducting preparatory work for saudi aramco's blockbuster ipo.rk is ahead of any formal pitching progress to secure a role in the offering. have charged lower fees or even worked for free on specific projects. spiderman's place in the marvel universe looks to be facing a bigger threat than thanos . we learned a dispute is threatening to end production of the superheroes films. website, disney wants a 50% share profits going forward. disney gets 5% of box office revenue. that is your bloomberg business flash, manus. manus: thank you very much. are the banks worst-performing stock sector and the stoxx 600 so far. negative rates underpin a lot of the pain they have suffered. banks are now being forced to pit it from a dependable income from lending to more volatile sources like commissions. worse, some say, they are compensating for the lost revenue by increasing volumes of low yielding loans. this is what eats into shareholder returns. who better to make sense of it all then our opinion columnist who covers finance, jonathan working for bloomberg i

saudi aramco says there was only a small fire.ion barrels a aramco'snd 10% of total capacity. china is revamping its system of interest rates. the move is aimed at pushing down borrowing costs as the economy slows. for august 20, 's must be priced with reference it must bet -- priced with reference to a new benchmark. the rate is linked to the price of the pboc charge of lenders for cash over one year. global news 24 hours a day on air and tic-toc on twitter, and powered by more than 2700 journalists and analysts in 120 countries. this is bloomberg. matt? matt: thanks very much. annabelle droulers in hong kong. president trump's advisors spend the weekend talking down threats to the u.s. economy. they did the rounds on american talk shows, saying economists and bankers were marking up their forecast for the remainder of the year. think of america boss brian moynihan stuck to the script. the president held a conference call with him, jamie dimon, and michael corbat. two days later, the bank of america ceo is painting an optimistic

the question is will they do more you tie in the issue of aramco, we have reports that the saudi leadership to do an ipo of aramco in late 2020 or early 2021 they are going to need prices higher in order to pull that off. i think a lot of pressure is going to be on saudi arabia in terms of how they respond to the softening demand picture. >> there is a long way to go to 2020 or 2021 at the asame time can we read into this and say, you know, maybe saudi aramco wants to try to get this out the door as soon as possible before things get even worse >> i mean, i got that sense at the opec meeting that just took place in june that they were moving to try to speed up the ipo process. i think crown prince mohammed bin salman this is one of his signature initiatives. he has been very clear he wants to float 5% of aramco, put that money in his public investment fund and make more investments in the tech sector he is looking to build a sovereign fund on the same lines as audi. i think they look at the bond issuance in april, it was very successful, oversubscribed, and i think they have confidence they

a host of the largest global exchanges are stepping up their calling for saudi aramco. senior officials have been pitching the saudi oil giant in recent weeks. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. bloomberg. nejra: thank you so much. franceeaders gather in this weekend for the g20 summit -- the g7 summit against the backdrop of growing uncertainty, the meeting will provide a chance to address worries. these include tensions between the u.s. and iran and risks of a global recession. joining us now is bloomberg's maria tadeo. looks like a contentious g7. what is at the top of the agenda? a lot of issues. >> good morning. there is a very tight security operation here. this has been a very difficult year for emmanuel macron. the french are taking no chances in what could be an unpredictable g7. officials will tell you we are going to focus on climate change, we want to focus on any quality. what they really -- on any ty.lity -- inequali what they really care about is the economy. trump brings an element of

fire to a natural gas plant several armed drones targeted the shape of oil field the oil company saudi aramco describes the fire as limited though and since production hasn't been affected all the saudi energy minister is accused of trying to disrupt the world's oil supply more from. yemen's capital sana. according to the whole of these spokes person he says that the have carried out the biggest operation deep inside saudi territories we have used 2 key draws that have crossed over 1100 kilometers to the east side of the kingdom and they have targeted this. field which is just. 10 kilometers from the borders of the. also according to the whole of these later. he says that sends also a message to the united arab emirates to stop their attacks there on. the saudi war on yemen and also that the he says that. the saudi arabia's initiated its war in yemen order to secure itself that it should have done it with securing yemen's security 1st he also mentioned that the all citizens so the stay away from the saudi. bite will strike as the promising of more vital and also. harmful of tax on saudi arabi

saudi aramco has just named some rd and as some of their advisors for the world's biggest ipo. saw it from aramco. it fueled a lot of market chatter that they were indeed serious about this ipo. we understand that aramco is moelis select lazard and for the world's biggest ipo. no timeline on that. we will have plenty more on brexit and treasury yields on "bloomberg surveillance." this is bloomberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. ♪ francine: no need for a hike. convinced a rate cut is not necessary. u.k.'s prime minister makes his first attempt to negotiate a brexit deal. discussing facebook fake accounts backed by the chinese government meant to undermin

saudi aramco, the world's top oil producer, says revenues came in at nearly $161; billion in the first $168 billion in the same period last year. the company has blamed lower oil prices and a cut in production. profits were down i2%. rumours this weekend suggest the long—anticipated stock market floation of the company could be back on the cards, after plans to list the firm were pulled last year. south korea has said that as of september it plans to drop japan from its list of countries with fast—track trade status. the ministry of trade and energy said in a statement that tighter trade regulations will apply to south korean exports to japan. the move is seen as a retaliation afterjapan removed south korea's fast—track trade privileges earlier this month. and the somewhat complicated political situation in asia is proving a headache for one fashion house. luxury brand versace has apologised after an image on one of its t—shirts appeared to imply hong kong and macau were independent territories. let's go to our asia business hub where sarah toms is following the story. tell us more abo

discussions in london about how listing particulars may need to be relaxed in order to ensure that saudi aramcognificant opportunity for companies that would achieve reve nu es companies that would achieve revenues associated with the float. the assumption it is going to tokyo will be a glum piece of news for operators in london. lets keep this in perspective, us gdp revised down by o.1%, in perspective, us gdp revised down by 0.1%, should we be worried? absolutely not, the trend rate of growth in the us has been around 2%. ido growth in the us has been around 2%. i do worry that the first half of the year, growth was massaged up by the year, growth was massaged up by the building of infantry is. in other words, stuff was produced, and instead of ending up with consumers and went onto shelves. i think the second half of the year will be quieter. full year growth of 2% would be a country mile better than many other economies. very briefly, we don't have much time, business investment is falling for the first time in three years. manufacturing appears to be in decline. those are not forward—looki

looking on the blockbuster saudi aramco sale, in pole position on the oil giant's second attempt.is planning a listing as early as 2020 and is expected to use advisors that have a relationship with the firm. the company has helped make northern virginia the most expensive housing market in the u.s.. it is harder for buyers in alexandria and arlington. , the blame the company for -- locals blame the company. target is launching a new label. they will appear on store shelves. target will be trimming its market -- that is your business flash update. romaine: softbank said it is going to lend employees up to $20 million for this new investment fund. this is according to reports from the wall street journal. it has been making the rounds all day. fund two.vision romaine: the presumption was that this money was owing to be coming from outside investors and now it appears that a good chunk will be generated internally. taylor: i wonder if this is a way to retain employees. come in, put your money where your mouth is, employees now have a way to participate in some of the fundraising. car

goldman sachs reportedly is now back in the running for a role in saudi aramco ipo.s, goldman carried out a month-long charm offensive. john rogers of ariel started his firm when he was just 24 years old. >> what is the best single deal we can talk about. that stock has gone up close to 15 times. you can watch all of that interview with john rogers on the david rubenstein show tonight at 9:00 new york time right here on bloomberg tv. the cinematic future of one of marvel comics most beloved characters is up in the air. the feud between disney and sony threatens to end the production of spider-man movies. disney wants a much bigger share of the profit. alix: i would be so sad if that happened. the new spider-man movies are awesome. they are so good. david: with the marvel characters, is that what the deal is? alix: yes. it was in a different studio versus what it was before when it was not very good. david: they made a deal when the spider-man movies were good. alix: it is because of good actors. there are good actors, that is the point. david: time for follow the lea

could it be saudi aramco?e need crude, and we need exploration, because we need to have some supply to thailand and the indian and asian markets. : how soon do you expect to announce the partnership? >> one or two years. haslinda: in terms of tpp oil and retail, a lot of talk and a lot of numbers out there. can you shed some light that is more definitive? to expand tong mainland china and asia. in thailand we have [indiscernible] we tried to expand this one to asian countries, like we have in malaysia and singapore, we have expanded in china, japan, oman, --an countries, that is why [indiscernible] step.have passed one big we have separated the company already. we have a financial statement already and we will move in the in theep to the filing stock market, because we need time to do it because of regulations. and i can't tell you now. [laughter] the next how soon, three months, the next six months? year.hink by the next new haslinda: in the next 12 months? >> i think in the next year, 12 months. haslinda: th

saudi aramco will buy a stake in what is estimated to be a $15 million deal.he company is ready for ipo. the timing of the ipo will be determined by our shareholders or the owner of the company. in thethink of investing ipo, do you worry about the fact it is not diversified enough? or do you wait to see how they price the ipo? of the the perspective ability to generate cash, it throws off a huge amount of cash from oil production. the bigger question for the equity investors is how much can it produce in terms of a dividend for equity investors. we saw and the financial this is a $20 billion special dividend paid to the government. it still bell paying out that money to investors? or is this a one-off that has gone into the budget to help prop up the economy when they have been trying to boost spending? miss.y's big thelowest we have seen shares since 2010. >> what is worrying is that 10% tariffs that have been delayed, they are not in the your forecast of macy's that they already downgraded. factis is based on the they were struggling to sell clothes in the s

. ♪ >> bloomberg has learned saudi aramco is taking advice on the oil giant for the biggest ipo, slammingar. where do you think they are on the path? >> this is the world's biggest anticipated, and aramco has listed them to advise it on this ipo. they will be playing key roles in the process, including helping with underwriters, listing venues, and managing expectations. i do want to point out one of the most interesting parts of this is that they did not make the cut in 2016 when aramco was initially planning to list. it did not choose them as one of their advisors to be part of the process but now it has. they're in a pretty good situation. ♪ >> the animal health company that spun out of eli lilly last year announced today a $7.6 billion share back, creating the world's second-largest animal health company. they say it was created in the first full year -- how does that work? >> it doubles our pet business, balances our livestock and pet business more globally, growth for both markets. that helps. it is very much strengthening and accelerating the current strategy we have, and i think i

at some countries, -- >> because of saudi aramco? [laughter] some of it looks like that.be we need it in some countries in the middle east, because we need to have the asian markets. >> how soon do you expect to announce the possible partnership? >> i think in the next one or two years. in terms of the ipo of retail, and a lot of talk and numbers out there. can you shed some light that is more definitive? we want to expand it in china and asia. we have more than 1800 stations. we have more than 280. than 2000.e that to asiaxpand rehab,es, like the new and singapore, and china, japan, asia countries. that is why [indiscernible] we have one step, we have shaken up everything around it already. the next step will be filing in the market. we need time to do that. [laughter] >> and then that -- within the next three months? six months? >> i think next year. >> next 12 months? >> in the next few months. yvonne: that was our interview with the ptt president and ceo speaking to haslinda amin. let's look at the markets. earnings in motion. the likes of petro china, as well as sai.

summers, thank you for that, the latest on saudi aramco's ipo.nd data science experts are topping employers wish list for new hires, but is it creating or killing jobs? this is bloomberg. ♪ amanda: this is "bloomberg markets." i'm amanda lang in toronto. shery: i'm shery ahn in new york. time to look at the biggest business stories in a news right now. more problems for the largest operator of pizza hut restaurants in the world. nbc international's debt fell further into distress. they felt closer to breaching the terms of its bank credit lines. fortnite appears to have hit a speed bump. the game is actually slowing down. revenue fell 30% in may. the publisher, epic games in the to have a solution. the company is sponsoring more competitions after the success of last month's world cup. that tournament attracted more than 40 million players. strong works about the wework ipo filing. they call them a masterpiece of obfuscation. they say we work must have put in a great effort to unseal -- concealed the economics of the company. work label some comp

received orders that peaked at more than $75 billion, the biggest demand for a debt sale since saudi aramcoeived more in april. investors are willing to take a risk again despite volatility in global markets. still to come, brent crude slid into bear market territory as the trade war threatened to eclipse -- in the middle east. this is bloomberg. ♪ ♪ from the 5am wakers, to the 6am sleepers. everyone uses their phone differently and in different places. that's why xfinity mobile created a wireless network that auto connects you to millions of secure wifi hot spots. and the best lte everywhere else. xfinity mobile is a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy an eligible phone. click, call or visit a store today. ritika: this is "daybreak asia." i am ready corrupt or what the first word headlines. james bullard says policymakers have already taken steps to account for trade war uncertainty. he is only expecting one more rate cut this year. he told the national economists club in washington tha

james: first on the docket will be saudi aramco's first ever earnings. ia's behemoth will be interesting as to how they are performing, and it should get some insight there. one of the world's most profitable companies. alsong that aside, we will be looking at the u.s. inventories data. the last week showed crude supplies rising for the first time in quite some time. there will be keen to focus on whether that trend continues. another thing investors will be keenly focused on is the trade war, of course. we have some chinese factory data that should give interesting insight into how the chinese economy is performing amid those trade tensions. shery: what are we expecting to see in these indicators, and how much has the trade war weight on commodities -- weighed on commodities? james: it is having a huge impact on commodities markets. you just have to look at the gold prices surging to see that investors are racing safe havens and shoveling the speculative and. imf came out with a big report friday warning of the downside risk the economy if these tensions

goldman sachs is reportedly in the race for the role in saudi aramco's next attempt at an ipo.is a contention after months of lobbying by washington. is alsostment bank working on the offering. they had begun work on the share sale and are to play key roles in a succession of underwriters and venues for the listing. facebook's digital currency project is being probed by antitrust regulators in the eu. the european commission is investigating whether the payment system would shut how rivals and create issues of the use of consumer data. facebook has promised to appease all regulators before launching the cryptocurrency. rishaad: youtube is finalizing plans to end targeted ads on to attracted after regulators asked if they breached the online privacy act. the fcc has reached a settlement. it is unclear if the move is a result of the deal. maintains that kids should use the kids app which does not use targeted advertising. david: the plant in a cars in china is on track with work on a new factory in shanghai going well. building work on the plant in shanghai's free trade zone is a

saudi aramco has revived a much -- aftered share shelving plans to buy a 70% stake in one company.mpete for a role in the offering that could come as early as next year. still to come on daybreak australia, tensions between protesters and police intensify in hong kong. china signals it may intervene. the latest coming up. this is bloomberg. ♪ a.m. here in sydney, gloomy monday morning. the market open 90 minutes away and futures looking weaker by 1.3% after a heavy slowdown in the u.s. friday. i am paul allen. ahn.: i am shery let's get to first word news with tom mackenzie. tom: president trump has further slowed trade tensions when his -- saying he regrets not putting higher tariffs on china. said the mediaam misinterpreted the president's initial merit -- remarks about having second thoughts. she says he does not regret starting a trade war but thinks he should have hit china party from the start. the u.s. and japan agreed in principle to a trade deal that will include higher purchases of american arm products. president trump and shinzo abe announced a this in biarritz, saying

saudi remco is making headlines today -- saudi aramco's meeting headlines today, taking a 20% stake in reliance industries' oil and chemicals unit. net profits fell to about $47 billion to two lower oil prices. the company held its first ever earnings call today, preparing to go public as soon as next year. the boards at cbs and viacom worked through the night to try and determine a price for their long-awaited merger. determine chairman would be sherry redstone, whose family investment vehicle controls both companies. viacom's ceo would lead the new company. shares of germany's commerzbank fell to a record today. that cap they roller coaster ride that saw the stock more than double after -- that capped a roller coaster ride that saw the stock more than double after unannounced turnaround plan, although stocks have fallen over the last year and a half. we are seeing some earnings reportsd analyst waiting on retail data this week, specifically from china. guy: european stocks initially climbing this morning, but fading as the day has progressed. we are trading very close to session lows

saudi aramco is to be reevaluating plans for an ipo.ones says considering a plan to split would be expected to be the biggest ever share sale in two listings. following up with an international offering next year or the year after. aramco sources say management is inclined toward tokyo for the second listing, edging ahead of new york, london, in hong kong. ford: facing the retrial bribery, putting more pressure on his company as it navigates the turmoil of the trade war. the supreme court overruled an --lier decision to spend suspended a prison sentence and is sending the case to the lower courts. lee was arrested in early 2017 and spent a year behind bars. the ruling means he may eventually returned to prison. audi in volkswagen talks to add warren buffett backed company as a battery supplier but no guarantee a deal would be struck. 22 million fully electric cars by 2028 with more than half built in china. to raise forlift expansion. yvonne: take this, thor. surprise movie hit is really snatching box office. it is china's second-bigges

paul: saudi aramco is reported to be reevaluating plans for an ipo.ow jones says it is considering a plan to split what is expected to be the biggest ever share sale in two. following up with an international offering next year or the year after. aramco appears to be looking at tokyo for the listing. kathleen: more pressure on korea's largest company as it navigates the turmoil of a trade war. the supreme court overruled the decision to suspend a prison sentence and is sending the case back to a lower judge. he was arrested in 2017 and spent a year behind bars. the new ruling means he may eventually returned to prison. paul: the reserve bank of india raised its gold holdings by more than 9% of the ending in june, its biggest bridges and newly a the r.b.i. fought despot more than 50 tons of gold less year, raising total holdings to 618 tons. 's burning season rolls on. we will break down results from the world's largest lender as well as the nation's top energy producer. this is bloomberg. ♪ ♪ from the 5am wakers, to the 6am sleepers. everyone uses the

saudi aramco will buy a stake in what is estimated to be a $15 billion deal. >> i can attest the companyy for an ipo. the timing of the ipo will be determined by our shareholders or the owner of the company. earnings look at the and you think of investing in the ipo, do you worry about the fact it is not diversified enough or some of the where reserves, or you just wait to see how they price the ipo? >> clearly from the perspective of the company's ability to generate cash, obviously it throws off a huge amount of cash from oil production. i suppose the bigger question for the equity investors is how much can it produce in terms of a dividend for equity investors. we saw in the financial statements they just put out for the first time, there is this $20 billion special dividend they just paid paid to the government. willpost-ipo environment, it still be paying out that money to investors, or is this just a one-off that has gone into the budget to help prop up economy at a time when they are trying to boost spending? >> macy's big miss. it is the worst performer on the s&p 500, in fact, t

only will they cut production to customers next month, they're getting ready to lawn of ipo of saudi aramco. they will fast forward next year. oil traders know what that means. that means saudi arabia can't allow oil prices to fall too much further. they're taking steps to reduce inventory. that is going to be very bullish for oil. at the same time we got a private forecaster, gemscape, reported that supplies at cush, oklahoma, a key distribution point, fell 2.3 million barrels. the talk of oil enjoin terries low. it continued to hold in there today. traded higher, traded lower. with the possibility of donald trump talking about you know, more interest rate cuts, uncertainty about what can happen overseas over the weekend, that is giving gold bulls a bright future into next week. a very exciting day down at cme. back to you. melissa: i don't know if i believe the saudis about the ipo. they have been saying that a long time. let's bring in today's market panel. gary b. smith, fox news contributor. carol roth, future file planning legacy system. thanks to you both for joining us. gary, i will

after occidental received orders of more than 75 billion, the biggest demand for a debt sale since saudi aramco100 million in orders in april. a sign investors are willing to take a risk again this by the trade war and volatility in markets. year profit of commonwealth of australia feell and net interest margins shrink. australia's biggest lender is suffering the cost of a series of scandals from charging people for services they did not receive an selling junk insurance. the compensation bill climbs to almost $1.5 billion. shery: plenty more still ahead in the next hour. we are speaking to nico asset management chief global to breakt john vale, down a massive week in the markets. paul: that is almost it for daybreak australia this morning. we have trading underway in new zealand. we've currently got the -- l ooking like this. hang on a moment. it is higher than 1% after a couple of days of declines inspired by the escalation we saw in the trade war. sydni futures pointing higher by three quarters of 1%. 1/10 offutures of by 1%. it looks as though we might see something of a rally from what app

individual corporate news, saudi aramco, a 2 trillion-dollar oil company from saudi arabia, making 15 billion-dollar, investment in india's reliant industries. that is india's biggest oil company. ahead of what people will say renewed effort to ipo hopefully in new york markets. if you look at valuations, 2 trillion, 5% of the company, that is 100 billion-dollar ipo. that would be easily the largest the world has ever seen. let's end on positive news. what about disany? we saw "the lion king" is the most watched, biggest seller animated film of all time, costing 1.3 trillion, billion, i'm sorry. 1.3 billion in global office receipts. they have now beaten "frozen" which took a few years, from 2013. back to you. melissa: seems like trillion. we all have kids going to it. i saw it. it was fan tis i -- fantastic ol falling to a five-month low. phil flynn as details on that one. good news for drivers. >> it is good news. we're seeing silver lining in gasoline prices at five-week low. it is six cents lower than last week. 14-cent lower than a week ago. 20-cents lower than a year ago. all ba

. >> the story keeps going saudi aramco is considering a plan to split what would be the world's largestparate stages. that's according to the wall street journal it offers some shares on the saudi exchange and then an international offering in tokyo or hong kong, 2020 or 2021 now let's help you make some money and find some new ideas on a friday by now, you know that interest rates have collapsed but as rates go down it means other things like bond prices have gop up and a lot of what they call boring investments have been sexy lately. these are just for august. the pro shares ultra 20 plus year treasury. the ticker ubt is up 25% this month. it's acting like a penny stock 25 plus year zero coupon u.s., zeros is the ticker. up 20% van guard, the tlt, and the spider long-term treasury etf, tlo, all up more than 10% and if you're one of the few people out there that saw this coming even though all of you will say that you didn't, and you have the confidence and the mojo to triple down on this movement of rates, the direction, three times bond-bull etf is at 38% this month these are bond fu

. >> bloomberg has learned saudi aramco is taking advice on the oil giant for the biggest ipo, aramcoa listing as early as next year. where do you think they are on the path? this is the second run. >> this is the world's biggest ipo, very much anticipated eagerly anticipated, and aramco ,, as you pointed out has listed , them to advise it on this ipo. they will be playing key roles in the advising process, including helping enlist underwriters, listing venues, as well as to sort of managing expectations around aramco's valuation. and i do want to point out one of the most interesting parts of this, is that lazard did not make the cut in 2016 when aramco initially was planning to list. it did not choose lazard as one of their advisors to be part of the process but now it has. so lazard in a pretty good situation. david: the animal health company that spun out of eli lilly last year announced today a $7.6 ayer's animaly b health unit, creating the world's second-largest animal health company. they say it is going to be created in the first full year. how does that work? jeff: it double

aramco -- manal: compound? brian: compound and living in the rest of saudi arabia? manal: so when i joined aramco in 2002, unfortunately, as a saudi woman, not as a -- women can live in the compound, but as a saudi woman, i was not allowed to live in the compound and i was not allowed to live in a -- i was not allowed even to rent an apartment outside the compound because the government wouldn't allow me to rent an apartment as a woman. i was not even allowed to stay in a hotel room because the government also wouldn't allow me to rent a hotel room without a man. it was 2007. out of policy, the company allowed women to live in the compound. that's when i got my divorce out. when i found a place to stay, i left my marriage and that's when i think saudi arabia really changing starting 2007 and 2008 in the company. brian: by the way, where is this -- your son from the first marriage? manal: he is in saudi arabia with his grandmother. brian: not with his father? manal: no, not with father. he took him from me after i got married again and he is living with his grandmothe

a host of global exchanges are stepping up the courting of saudi aramco.tively pitching the giant in recent weeks. hasbro is setting its sights on becoming a media giant. the toymaker is spending $4 billion to buy entertainment one , a studio that makes movies, tv shows, and animation. it is getting big children plans -- brands including have a big -- peppa pig. news -- global news, 24 hours a day on air, on tictoc, and on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. matt? matt: thanks very much. investors wait for fed chair jay powell's speech today at the jackson hole symposium. will be closely watched for any clues on whether or not the central bank chief still sees july as a midcycle adjustment or possibly the start of something bigger. the chief executive advisor at allianz says and easing cycle may not be what the economy needs. >> for markets, it is really important. markets are looking for a cycle that goes at least 75 basis points. some argue even further. but the reality is it won't do