sme's needed to find new ways to survive. badly. -- to doay to bo business is e-commerce. sme's in china sold worth ofbillion goods worldwide. provide alternative ways to do business. i think cross border is the answer. stephen: the trade war will be escalated in january. it is taking a lot of products made in small factories throughout southern china. are they getting enough support from the government? the government talks about needing to support the private enterprise. is there going to be paying? -- pain? diane: i think there is a lot of concerns around sme's. in china, in the past two years there have been a lot of to encourage businesses to upgrade. believegly micro-enterprises need cross border platforms to go global. it brings buyers and the sellers together and reduces costs for perform global trade. stephen: digitization is a big thing. you are one of the pioneers of the internet economy, along with jack and tony ma and others. you have seen this go from low regulation and explosive growth to the point bridge you h

haslinda: they say it does not reflect the interest of the sme's, just the mncs. their labor. so it has been pushed back. more time to maturity becomes a more meaningful agreement. so we're looking at a deadline of the second half of next year, rishaad. international correspondent for southeast asia haslinda amin therefore bloomberg. let us look at what is becoming a rather crude story, the details from sydney and the first word news with paul allen. paul: thanks, rishaad. oil slumped the most in 10 years. demand fort sees it crude falling even faster than expected next year. the monthly report highlights of the slowing global economy and surging supplies from independent producers. they announced that opec's next meeting in vienna will be next month. the australian prime minister is reported to be preparing a fund worth $2 billion for 1.5 -- or 1.5 billion u.s. dollars to boost funding for small and medium-size enterprises. the government will weigh packages of secured and unsecured sme loans which will provide lower borrowing costs. the official announcement is

. >> what are sme of the kind of programs that you have at the association for families?e youalking about a young man. you're still a millennial, sort of, but care giving, many more people are having to do it now and even at younger ages. >> absolutely and we're actually -- because we're the washington metro area, we have a younger population so we do geta calls fr lot of folks who are much younger who areg look to get connected to resources because once that die gnosis ag made, that is life changing. they start losing se of their friends and so you're having to make decisions, some need to be made madly. others can wait and if they don't provide the right care, you don' know where to start. so first place to start is the 800 mber. we offer assistance in over 120 languages, 24 hour as day. we're there to answer any questions. the educationalrograms, the professional training, they are lifelines for famili. upport is everything. >> absolutely. >> we're going to take a break and we'll continue our talk right after this. >>> we are talking about care giving f patients with a

fact: some of your favorite foods stain teeth. r a sme that's 4whitening tovisibly whiter!s colgate optic white. whitening that works. c >>> our top stories this morning. the thanksgiving travel rush is under way. more than 54 million americans are expected to travel more than 50 miles from home, most over 48 million, will travel by car. most of the country will see favorable holiday weather, but there is snow in parts of new england, and the northeast will see some of the coldest thanksgiving weather in decades. >>> and the food and drug administration is warning people to immediately stop eating romaine lettuce because of an e. coli outbreak. they're telling people to throw out any romaine and that contaminated lettuce may still be on store shelves.it sickened states and 18 people in canada. >>> in massachusetts, there where are huge lines at shops as they began selling legal marijuana for the first time on tuesday. tony dokoupil has more. >> reporter: the land of the puritans went to pot on tuesday. all to get legal kana bass here in more than a century. >> how do does i

reporter: along highway 99 red and blue flashing emergency lights disappear into a glowing haze orge flaan sme. miles outside of the town of paradise the wind-driven camp fire is going unchecked through miles of bone-dry tall grass what firefighters would call fleshy fuels. >> reporter: in under 5 minutes our vantage point of flames from this barbed wire fence line became unsafe. at one point the flames and smoke on 99 became unpassable. headed east on durham road strike teams from berkeley and fremont fire were lighting backfires to precharred grass while trying to contain embers and high winds. nearly impossible task. >> this will go on for several days. again, it is weather driven as we are seeing right now. hopefully that wind will slow down early morning hours it will be a big benefit to us. >> reporter: the wind is the concern here overnight in butte county right now. where i am standing that video you shot earlier was not taken far away from where we are right now. we, in fact, could not get up to the town of paradise to see the destruction and devastation there. i was speaking to a fam

the australian for minister is reported to be preparing a fund with $1.5 billion to boost lending to smesrnment will five packages of secured and unsecured sme loans that will provide a source of funding and lower borrowing costs. an official announcement is expected wednesday. the retail route that swept the u.s. has cost manhattan its ground. the upper part of 5th avenue is no longer the world's most expensive street. the title passes to causeway bay in hong kong. andon's bond street, paris, ilan round out the top five. global news 24 hours a day on air and on tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. i am paul allen. this is bloomberg. rishaad: a chinese car startup is gearing up to take on tesla. alibaba and is expected to launch its first commercial model next month, the g3. they hired a former j.p. morgan record ipo to take charge of mobile strategy and fundraising. he is here with me now. he is the vice chairman and president. he is with me at the j.p. morgan global tnt conference. to jump ship to this electric carmaker? >> i s

sme big developments today in the killing of "washington post" journalist jamal khashoggi at a saudi arabian consulate in jorkey. the u.s. slapped economic sanctions on 17 saudis accused of taking part. aid, a saudi prosecutor said he yill seek the death penalty against five suspects. holly williams is in riyadh. >> sometimes, things, mistakes happen. sometimes people abuse their authority. >> reporter: that's the saudi miabian foreign minister's explanation as to how it was that jamal khashoggi was killed: "mistakes happen." earlier, a spokesman for saudi's top prosecutor claimed for the first time that khashoggi was allled by a lethal injection. a team was sent to istanbul to bring khashoggi to saudi arabia, by force if necessary, it's now m aimed, but a team leader thcided instead to kill the outspoken critic of the saudi government. t 's the latest version of events from saudi arabia, which initially denied it knew anything about jamal khashoggi's n sappearance, and then claimed he died in a fist-fight. what is your opinion when it comes to how damaging this has been for saudi ar

billowing sme, leaping flames and montgomery county firefighters work iing to knock down a fast-moving tire. heck tim hick moments captured on a cell phone this morning. >> when i came out, it was just coming out. >> reporter: but just more than one hour before, bobby says he spoke with one of his nghbors who lived next door that now burned out western avenue home. >> he sees through my window that i'm open and he called me. we were chatting. >> reporter: the subject recurring topic for the two. an older man who lived with his rly mother. >> there's nothing to say. i have known him forever. >> reporter: close to 1:00 a.m. calls began coming to fire dispatches in the district and monlt gom ri county. both departments arrive object on the scene with fire crews standing by as montgomery county firefighters went in. >> crews were operating from the front and from the rear in. such a coordinated fason that th rapidly found one victim remove. that person was found shortly after. >> fire and embers burned off two. stopped from sprayingearby houses. two neighbors lost and plans to come togethe

. >> smes, stocks are whacked. >> terribly. point now where, you know, fairly soon, within the next couple of months you'll see a revenue start to slow down. that will probably be a sign to get back in. >> do you think in a year the u.s. economy will be entering recession? >> no way. i don't think so. >> there's a lot more calls out there for 2020 recession 2020 it's hard to believe is only a little over a year away. >> depends where you think we are in the cycle i would argue that we were very slow coming out of the financial crisis, so slow that we're only getting into a normalized recovery in the past 24 months depends where you think we are by normal standards those would say we're longer in the cycle. i would argue we're more mid cycle. >> i know we're not, i feel like politics has turned into the british soccer season. it's like the day it ends, the next day it begins we're not even done with some of these gubernatorial races we just told you about and you believe that the president will have to soon go into re-election m

. >> retailers are already offering sme deep discounts.nbc's kristen dahlgren has tips to save big. >> reporter: the first ads are already out. in boxes are flood with exclusive offers and some of the deep discounts usually saved for the day after thanksgiving available right now. >> the deals are incredible. incredible. >> i love it. it's the best time for me. i loveg. shoppin i love all the offersyou have. >> those deals include big ticket items. home depo is already running their black friday sale with 40% off of appliances and amazon has thousands of disc already posted. >> the retailers want us to start thinking about going out there, getting our product, savin money. >> reporter: major chains are targ eting parents' biggest concerns, where to buy holiday toys now that toys "r" us have closed their doors. dollar store, party city and best buy getting in the game on.s se walmart and target are offering extra incentives awell, unrolling technology that lets you skip lines and check out from anywhere in the store. >> as much as we hate t

so, therefore, you know, credit losses and from the corporate, sme and retail were the key contributor to the british lenders. >> let me ask you about the scenarios that they're testing for. the macro scenarios are a lot worse than 2016. they're doing more than an 8% shot to the economy. crucially the sovereign spread widening test is not as adverse as it was back in 2016 that seems a little bit counter intuitive especially given the scrutiny on italy, italian banks and on the periphery spread widening we've had in the last couple of months >> this is a valid point so we can definitely say that perhaps the sovereign spreads were -- the assumption of the sovereign spreads were softer given, you know, the performance that we have seen especially with regards to italy it's true that the sovereign spreads were significantly below the level that some countries have experienced in 2011 and 2012, but it's also important to say that european structure has completely changed and today we have some instrument that talks about financial stability that we didn't have at that time. >> do you think

the former first lady is explaining why sme will never forgive him. and now he has something to say about it. good morning america coanchor eva pilgrim has the details. >> our motto is when they go low we go high. >> michelle obama opening up in her new book becoming, talking about the toll elections took on her personally saying she will never forgive president trump for his birther comments about her husband. >> why doesn't he show his birth certificate. >> the so-called birther movement accuseding then president obama of lying about his united states citizenship becoming a ke part of trump's early forra in politics but the former first lady confessing she worried the campaign trail comments could endanger her family. >> what if someone with an unstable mind loaded a gun and drove to washington? what if that person went looking for our girls? donald trump with his loud and reckless innuendo was putting my family's safety at risk. and for in i'd never forgive him. >> the president firing back, first suggesting the former first lady's words were finan

part because of presiden way to attack some people inside the justice department by namo as well as sme senior officials. remember, starting last year with theiring of f.b.i. director james comey, conditing continhis year with the firing of.b. deputy director. there has been a lot of controversy and turmoil surrounding the d.o.j. and f.b.i. these folks inside the justice department are trying to do their job day to day. this can be difficult with the constant assault and barrage and attacks from the president on twitter and elsewhere. >> woodruff: to john carlin now. hn, we heard kellyanne conway say she does not expect what the president is asking, matthew whitaker, who will be actingey attoeneral now-- to end or in any way limit the mueller investigation. but knowing the department as you do, how do you think this affects the chain of command, the relationships inside thepa ment of justice, that could affect the oversight ofti that investi? >> well, look, there's no one who does his mission and ke his head down and follows the facts like bob mue er. thaten his career from when he was

a lot of smes large-cap are paying millions to prepare for this worst-case scenario.t an ideal situation. we need to move forward. i hope by the end of november and next week, we will have clarity. anna: it will be interesting if we do get a deal, less money going to consultants, but more time and bandwidth across europe to think about investing elsewhere. i've got a chart that shows key currencies since the brexit vote. this goes back to 2016, of course. in the yellow, we've got euro pounds, one of the big winners of the night at the brexit vote as we wait for brexit to become a reality. just how much up or downside do we have here? morgan stanley is talking about selling euro against the pound. as we start to see the pound gaining a little bit of ground, expectations a deal could be coming through. how strong could the pound get? vincent: hard to forecast such a fixed movement. by christmas in london, it will be much more than today. anna: is that close enough to the deadline? christmas? that's three months below the deadline. vincent: if we believe the news next we

but again, i think congress has to take sme ownership of u.s. foreig policy. especi as it relates to our interv war. our unconstitutional fighting of a civil warin yemen that has never been declared by the u.s. congre is a problem. and that's o us. >> final question. i'm curious your reaction to the climat report. this is from the fede govern congress, you guys ordere the federal government to do this. let me give you one of the conclu with continued growth and emissi at historic rates, annual losses and economic sector pojected to reach hundre billions of dollars by the end of the century. more t current gross domestic produc product of manufacture thestates. this is not painting a picture environmental catastrophe coming but an economic cata what are you going to do about it in congress, senato >>ell, first of all, i look forwar to digging into the report and listening t what other experts on the outside have to say about it. i think it's important any time we take a repor like that to examin what public policies they might have in mind. what public policies

what will you do to smes and the technology sector do its bit for the future of prosperity in the uk?hnology but we need to create that environments which is part of what the industrial strategy is about, working with sectors like the technology sector to see what can be put together in terms of a package to ensure the support is there, notjust for larger businesses but also for those smes. there are some amazing features about the number of small companies that are set up in the uk on, in the area of technology, one in particular has seen enormous amount of development. it is about creating the right environment and ensuring young people have the right skills to take that on and it is a great advertisement for your company, then it is up to you. applause. i will take yellow one. prime minister, on sunday you propose to sign a withdrawal agreement and that agreement is going to lockers into eu regulations ona going to lockers into eu regulations on a permanent basis unless the eu agrees otherwise. now, this is to ensure we have frictionless trade with the eu, which is about 43% of our

we want to show you the west.yo can see the progression of sme between november 7 and ( james ) and thisage. take a look at this drone video over paradise. you can see the neighborhood just leveld by the fire... nothing left but the smoldering remains. now lets turn now to the weather center with a report on the back here in the bay area. ( darya ) im here with john shrable to talk about the smoke ... and the possibility of upcoming rain in the forecast. today as compared to rtye cloudy conditions but will remain smoky for most areas. with air quality issues continues despite comfortable temperatures back up into the 60's and low 70's it will be an afternoon to limit outdoor exposure yet again. expect remainder of the week. ( darya ) week. ( darya ) in southern california a flare-up of the woolsey fire prompted a massive reponse from fire fighters. the fire has grown to more than 97-thousand acres this morning. even with the flare-up firefighters have gained ground on the fire as it is now 40-percent contained. over 430 structures have been destroyed but another 57- threatened. fir are c

a 35% market share in those italian smes.ensitivity for capital, we are very resilient. we can absorb significant shots -- shocks of the italian spread. 100 basis points or more of italian spread are worth 12 points of sovereignty ratio. we can take short-term problems if they come. thehat do you think discount on your share price is because you are italian? because the company is italian? >> everyone understands you are diversified. we are building a new pillar of our business which is the asset management. earnings will be growing at a significant pace. it will be very sustainable. less risky business model. donnetk you so much, mr. . .he share price is gaining 2% let's get to the first word news. >> italian bonds have rallied after reports the company is open to revising the budget proposal. the italian government could for income andts beneficiaries of the low retirement age. the european commission report says the current budget is in breach of eu fiscal rules raising the threat on the country. the u.s. has accused china

the key point is, 75% of jobs in europe are in sme's and can only borrow from banks.ow from the bond market. if they want to help the jobs economy, they need to help banks make money. tom: we're talking about goldman sachs, prelude to the importance of europe. as said repeatedly this absolute fiction of negative rates structure. this is deutsche bank right now rolling over, not through the lows of october. continue. what do they need to do to get this fixed? there are three different issues. in germany, 70% of the banking market is public. that means they don't care about the returns they make. as a result, it is very hard for them to make any money in germany. secondly there are, negative rates. third, over the years, they have been basically not integrating and the backend. they end up something -- having something like a $30 billion revenue. goldman sachs has the same, but 20% of the workforce. basically, the same revenue base, four times as many people. moreb, the issues are existential. ecb rates matter for the core of the banking system. db has other specific ch

on through privacy by design and privacy by default and just really a [ inaudible ] for the small smes and start-ups if they just take into account from the beginning through the gdpr if they start when inventing or a new processing or things like that, they can rely on the robust model like the gdpr when they want to do business in europe and they can do it through the same rules in all europe. they don't have to be compliant to 28 different laws, just compliant to one, the gdpr. also for small businesses. >> is it move forward there are real advantage to incumbency here, though, because, you know, if yours business model is to maximize profits through the sale of advertisement you already have tens of millions of users out there and are enjoying all the revenue advantages of having that existing -- those existing users and the network affect associated with them and a new regulatory regime like gdpr or perhaps the california model, aren't you disadvantaging new entrants into the space? i'm not saying that your approach is the incorrect approach, but i just would like to know how you'

. >> jon: sme is someone that republicans hope wins because they like to run against her. that say to you? >> you know, i said that each district is different. and that there is -- that the members of congress that are running are running as themselves. they are running on their agenda and what they will deliver. and we have to help every member deliver to the people of their district and not just the people of their district but deliver for the american people. >> jon: congresswoman democrat debbie dingell. thank you for being with us. >> sandra: secretary mattis visiting troops near the southern border in texas. the troops offering support to border patrol right now. but what is the long-term military mission there? plus president trump firing off a series of tweets today on the mueller probe. what he is saying now about the russia investigation. a snowy morning in washington i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is m

and, you know, that sort of on chain wallets haven't collapsed as much as sme speculator side which iswe need to have sort of both interacting with each other. >> but take on this thesis i look at all these tech companies and their stocks are coming down. the people most inclined to buy bitcoin are those in the technology sector who have -- i don't know what they've been doing. but they're now looking at their own net worth falling. you also have the chip makers falling and you can say that's a chicken and egg situation. then you have the fight over bitcoin and the split. that's a whole separate thing. i don't want to confuse the audience but if you have a whole world of people who are going to start hurting. and the investors in this, how does this rebound any time soon? >> i think that's a great point. i think the down turn in faang is hurting those who are owning bitcoin might need to raise cash but the next wave of adoption is institutional. they're not necessarily getting hurt here. there is a crossover happening this is an awkward transition. >> when does that happen >> i think y

give your administration the tools it needs to respond to this crisis and that any needed temporary smes implemented. even democrats in 2014 acknowledgessed there's a presidential progress ty to defending our board ires. >borders.>> i built when i was . director i built 3,000 detention beds under the obama administration. people want to say you're putting people in cages. those were built under obama. bill clinton is calling out illegal immigration. we've had a lot of democrats support the wall a few years ago. this is political. they're putting their political am pigambitions and hatred for s president ahead of public safety. >> there's a mcyou're delivering loud and clear. appreciate you coming in today. >>> moments ago french president emanuel macron with a message against nationalism in his address with word leaders. well the former cia station chief to react live. >> rerenounceed his french citizenship to join the american military, became a war hero and a recipient of the medal of honor. he shares his incredible store g with us straight ahead. it was like that feeling when you're m