snb meeting for a while. to say something, don't they? michele: they probably will. it is a little like bank of england. there is a lot of talk about things. they will not actually do anything, that is my guess. , chiefichele gesualdi investment officer at kairos investment management will stick around with us. if you're traveling to work you can tune in to bloomberg radio, where the central bank's conversation continues. they will be joined by michele napolitano. you can get bloomberg with the bloomberg plus at. .ou can also type in radio -alibaba rivalry is heating up with the u.s. company hiring hundreds of staff in china as it tries to regain market shares in the world largest online shopping arena. our correspondent stephen engle spoke exclusively to alibaba's vice chairman and founder joe tsai. he started by asking how open the chinese e-commerce is to american competitors. i know the people have talked about china being somewhat of a closed market from an internet link to view. -- point of view. b

snb westbound lanes still shut down eight hours later. this is a live that i can interest from sky chp hopefully reopening the stretch of roadway very soon. >> this situation is only part of the commute. the other is a chain reaction crash involving two buses. it has been really rough out there. >> an armed suspect dead after the police shooting which shut down interstate 80. right now it is on the verge of reopening. >> live in emeryville with the very latest. >> reporter: we're getting the high sign from chp that this reopening could be happening. lots of activity in the last few minutes. take a look. the suspect suv h actually just been towed away. it was on a flatbed. it has now left the scene. we could see westbound interstate 80 reopening any minute. now freeway has been shut down for the better part of eight hours. area's busiest freeways looked like a parking lot. interstate 80 shut down. commuters were stuck. >> we've been here since >> motorists took cover when a gun battle began between police and an armed suspect. >> i was in

the snb limited the weakness.be a level at which the snb says, we have got all these -- guy: a huge balance sheet. >> how do they reduce the balance sheet? when the rest of the world wants to sell swiss assets. think because there was a flow, there will now be a feeling. guy: where? >> good question. we're not quite sure. we're kind of going for like 1.2 0 against the euro, parity against basically the big one. that needs to weaken quite a bit still. guy: so, where does that leave the boj's balance sheet? -- guy: in our lifetime, will the boj be able to deal with its balance sheet? >> it is enormous. and will think the fed, the ecb, the bank of england or any of those in your lifetime will bring the balance sheets back to the precrisis levels. it will take absurd years to do these things. in fact, you could argue japan has led us and shown us the way, like a golfer when you putt. japan had done qe in much smaller amounts and that had not worked. don't forget the 97% of the bond market is owned by themselves, and t

snb westbound lanes still shut down eight hours later.y chp hopefully reopening the stretch of roadway very soon. >> this situation is only part of the commute. the other is a chain reaction crash involving two buses. it has been really rough out there. >> an armed suspect dead after the police shooting which shut down interstate 80. right now it is on the verge of reopening. >> live in emeryville with the very latest. >> reporter: we're getting the high sign from chp that this reopening could be happening. lots of activity in the last few minutes. take

dollar brushing that off today on the back of better than expected labor data i want to tell you the snb, that's the aussie dollar there, up by 0.25% on the back of jobs data we have pound sterling against u.s. data unchanged. 1.32 is the level close to a one-year high. euro/dollar, 1.1898. the dollar is still strong on the back of the big rise in the u.s. treasury yields this week and the absence of risk aversion when it comes to u.s. futures, we're expecting a slight movetrn the dow jones seen off by 5 points after rising 39 points in yesterday's session. >>> russia's biggest war games since 2013 are set to officially start today. moscow says the exercises conducted across belarus, the baltic sea, and western russia will involve 13,000 troops and 250 tanks. but nato believes the scale could be much large wr with up o 100,000 troops and nuclear capel ballistic missiles being deployed steve sat down and asked why the war games have become more dangerous. >> this is part of a pattern which we have seen develop over several years with a more assertive russia, russia which tripled defense s

it is the snb rate decision out of bern. a 30 a.m. out of london.e will get an analysis aware that frank is headed -- of where the franc is headed. this is bloomberg. ♪ guy: 14 minutes to the start of cash trading in europe on at goodies. we will cut you down to the open and bring you the details. let's get a bloomberg is this flash. -- business flash. will wipesaid storms out third-quarter profits and threatened the company's ability to meet its full-year earnings target. the world's largest reinsurer has given guidance of my 17 profit of 2 billion euros. the storms and north america at two challenges for the new ceo who is [inaudible] lowcompany was pressured by interest rates and competition. apple is playing the role of kingmaker. according to people familiar with the matter, the iphone maker is in talks to provide $3 bidion in capital to bain's for the unit. it may exceed apples are just deal ever. -- largest deal ever. a former trader at ubs has been charged with conspiracy and fraud over his suspected role of manipulating the price of preciou

have you rn aun any numbers as o how many might walk awhich aay d what the implications would snb. >>is too soon to tell. it is difficult for homeowners to leave their home and up root their families and move somewhere else only time will tell at this point how the whole process will work with submitting insurances and getting your costs covered and what you have to pay out of pocket versus what help you can get when it comes to fixing up your home again. we do know specifically in florida given that a lot of the damage was wind-related, not flooding related, although there was some flooding, hopefully, damages there aren't quite as extensive as they were in houston. people won't have to dig quite as deep to fix up their homes. we do know that waterfront properties specifically are very much in demand so we do think that the land will keep its value and thir is going to be a lot of demand for these homes. hopefully, a lot of people will not have to walk away from their properties and find it more advantageous to fix them up and keep them as their property values will once again bounce

this is significant because it marks an end to the snb referring to the franc as significantlyovervalue. >>> the august consumer price index comes at 8:30 a.m. eastern time that hits with weekly jobless claims and the bank of england has a policy decision due around 7:00 a.m. eastern time. >>> tesla announcing plans to unveil its highly anticipated truck. that will happen on october 26th the tesla semiis wh is what thee calling it that date a setback. elon musk expressing his excitement saying the battery-powered beast is worth seeing in person shares of tesla, down marginally on that news >>> a bit of deal news shares of tenet healthcare are jumping on reports that the company hired advisers to explore options including a possible sale. last month they said they would replace the ceo and some board members after concerns from glenn view capital then net h that stock up 14% in the premarket. >>> equifax says a web server flaw in its open source software led to the breach that compromised all that data for up to 143 million u.s. customers. the ceo is expected to testify before a house pa