that is stephen engle in hong kong. it is time for our stock of the hour. at british retailer marks and spencer, shares rising despite the companies relegation from the ftse 100. despite the share rise today, that is nothing compared to how shares of formed over the past year, down 30% over the past year and the market cap of marks & spencer has shrunk to 3.7 billion pounds, below the threshold for inclusion in the u.k. blue-chip index. official announcement is not expected until later this evening, but it looks like marks spencer will fall out of the ftse 100 for the first time since the gauge was created in the 1980's. what went wrong? spencerthe clothing business, n here if we switch up the board, by its general merchandise numbers. responsible for a falling portion of its revenue and profits. it continued to struggle despite multiple attempts to try and turn it around. attempts to try and turn it around. it has also been slow when it comes to online and e-commerce offerings of other competitors, seen as more compelling. food business, once a brightplus

our correspondent stephen engle has more. s the epicenter of what were some of the more violent protests in the 17th consecutive weekend of unrest in central hong kong. police firing tear gas. they used a water cannon with blue dye to help identify some of the more hard-core protesters. they fired rubber bullets and beanbags against the advancing protesters who tried to storm the legislative council building and the government offices behind me. they were throwing molotov cocktails, as well as any projectiles they could find, including bricks. they also set up a barricade, several barricades, and let them on fire, including at the entrance to one of the subway stations in the next-door neighborhood. it was a violent evening. this morning it was more calm. the streets were clear. however, it could be described as a tense calm because october 1, tuesday, is a public holiday. it is the national day in china, the celebration of the 70th anniversary of the founding of the people's republic of china. protest organizers say they want

stephen engle, bloomberg news, hong kong.r thanks to stephen engle reporting there in hong kong. york, let's getw with sherys expected ahn. this is a big day for china. that think it's possible the protesters will still be disruptive? shery: definitely, as steve mentioned last time when the hong kong government did not the protests, they still showed up. right now there are planned allies for six different stickets of hong kong despite the fact that the hong kong government has banned them. a time when chief executive carey lam will be out hong kong. the ill be in beijing for celebrations. omaine: how big are the celebrations? shery: we're talking around in 000 people taking part some form or another according to state media. in e are expecting to see hong kong the annual flag raising ceremony which is a big year.very this time around they're taking it indoors, this could be nother flash point for protesters. we are going to see fireworks in kong.ng, not in hong they just cancelled those fireworks on the waterfront that year.

stephen engle in hong kong, summing up basically there. we will have more reaction later this morning. u.s. futures are down as the latest tit-for-tat tariffs kick in. let's get over to selina wang. >> 20 to a mixed open. they are still reeling from that volatile august. it looks like it could continue into september. all of the indexes were down in august. down about 4%. -- weakhat week data data showing contraction in the world's second-largest economy. taking a quick look at the yen. the tariffs, no sign of escalation abating. the u.s.hening against dollar with continued risks of a succession -- recession looming. biggie -- busy schedule for the first day of trading in september. we have markets that are closed. that data that we are expecting to show contraction for the fourth consecutive month in a row. to come, with new trade tariffs, china is beginning again. we will ask where investors go now. kathleen: the latest on the trade war. this is bloomberg. ♪ paul: we had counting down to the semiopen on this beautiful spring monday morni

chief stephen engle, our north asia correspondent.gress expects to hear from the whistleblower whose complaint prompted the impeachment inquiry into president trump. we will have the latest from washington. paul: it is a cautious start for asian stocks after that the u.s. may consider limiting investment in china. a portfolio manager gives us her outlook. this is bloomberg. ♪ paul: welcome back to daybreak asia. another round of trade talks after the people's republic celebrates its 70th anniversary. the fragile state of those talks could be threatened by reports that the u.s. white house is considering new curbs on investment in china. let's bring in june pay. .- junpei the u.s. treasury will not restrict people listing in chinese exchanges which looked quite serious but it could restrict access to u.s. finance. citigroup is calling this extreme. is it a good choice of words? >> i would have thought so. there are conspiracy theories talking to the ultimate decoupling of the two major economies. that will be probably the worst case sc

on the brief today, stephen engle from hong kong on chief executive carrie lam's move to ease tension. onm london, emma chandra another day of high drama in parliament. and from boston, brian sullivan on hurricane dorian's move. stephen, we had the chief executive say we would withdraw the legislation. are the protesters satisfied? stephen: not at all. you could see it in the stock market. when news came that carrie lam would withdraw the extradition bill, the market shot up. the msci hong kong index had the biggest gain since 2011. after those comments were made and the activist started hitting the social media platforms saying they rejected these overtures from carrie lam, the futures started dipping down. they are worried carrie lam is not going far enough. one opposition lawmaker, says ."oo little, too late another says the protests will continue because there are still four more demands. she had already suspended the extradition bill two and a half months ago. she stated steadfast in her demand of not officially withdrawing it. why withdraw it now? we are getting much closer to t

our chief north asia correspondent stephen engle joins us now. the keyword -- what is the latest? ephen: interesting terminology because it could be invoking this emergency ordinance, emergency regulations ordinance which would give the hong kong government and police a bit more power for sweeping arrests, as well as searching of properties. also, clapping that on the internet as well as publications. we have not gotten to that point yet, but officials have not ruled out. it was first brought up last week by carrie lam not ruling it out. the chief secretary and other secretaries of the hong kong government also would not rule it out. actually saying we are reviewing comprehensively with an open attitude of what could be used. any actions, he cautioned, would need to be reasonable. basically, they are saying radical protesters showed signs of terror. this is a similar comment that was used by mainland officials at the hong kong-macau affairs office back in august 12 during the sit in protest and the disruptions at the airport. china, at least translated from interim, -- mandarin, th

our correspondent stephen engle is in the city. describe the events of this latest day of unrest for us. stephen: the weekend was another weekend of violence. unrests in a row now of here in hong kong with no sign of it fading. granted, some of these more violent elements of the protest movement have gotten smaller. it is not a broad movement of violence. but they have been becoming more violent. more tear gases being fired, more water cannon and shots from the government. rubber bullets as well. more injuries. we saw one person who laid unconscious on the ground here in central hong kong during the unrest yesterday, which of course was banned by the police but protesters still tried to march towards the legislative council off here to the left. however they were met with stiff resistance by the police here. again, there is no end in sight. late last week,, we had carrie lam the chief executive hong localmeet the 150 citizens to try and engage in dialogue. still, 26 out of the 30 questions that were posed to her were urging her to m

stephen engle is at the airport express terminal here in hong kong.issing. >> yes, carrie lam, the chief executive. we don't know where she is but we know there will be another press conference tomorrow. . going to beis another one and it will be interesting to hear what they have to say but run me through those headlines you just recapped, coming from the chief secretary, the number two and also the transport secretary is speaking -- excuse me, frank chan. this security secretary is frankly. one point that stands out to a question michael chung answered about whether the hong kong government would evoke this colonial era emergency powers ordinance, emergency regulations ordinance, which would give the hong kong government more control over the media, the internet, and intentionally give police more sweeping powers to crack down on what they have classified as writing, -- as rioting, like the burning of the barricade, the live rounds fired by police, the teargas, the water cannons, the mayhem. it is interesting to see whether that is another statement

matt: stephen engle, thank you. we will keep you updated. speaking of developments, boris johnson has moved to a snap after suffering a humiliating defeat for his brexit strategy with 21 lawmakers from his own party, well, they were, voting to take control of parliamentary agenda in an effort to block a no deal brexit. he threw them out after that. jeremy corbyn says that his party would only vote for an election after a no deal has been blocked. i don't want an election, the public does not want an election. i don't believe the honorable gentleman once an election. if the house votes this bill tomorrow, the public will have to choose who goes to brussels to talk this out. and so he wants to table a motion for a general election. fine. get the bill through first in -- in order tot take no deal off the table. matt: i have to wonder what boris johnson was mouthing their. -- there. he certainly smart, maybe because he does not really care. --he certainly smart smirked, maybe because he does not care. corbyn said to pass the bill before election

stephen engle is reporting now from hong kong. this was a dramatic announcement. was it unexpected? long coming for sure, according to protesters demanding this from day one, when she said she would not formally withdraw this controversial extradition bill. ,nstead, she would suspend it but protesters were concerned because if she just suspended it, it could be revived in a future legislative session, which lasts until july of next year. they thought, once things calm down, perhaps it can be resurrected. today, and her words, was to fully allay public concerns. but she addressed the other four main demands of the protesters, but pretty much did not acquiesce to any of those demands, including the setting up of an independent inquiry -- intot protesters say what protesters have said was aggressiveness by police. a pro-democracy lawmaker saying, "too little, too late." joshua wong, the umbrella movement five years ago, says the protests will continue. chan,r activist, andy says this is nothing but a ploy from carrie lam, and if protests continue, they can turn it around and say the pro

joining us now is bloomberg stephen engle who will add context. tell us what we know so far. aring from the "south china morning post," reporting she has called a meeting with pro-establishment legislative the in the next couple of hours and it is being learned she will formally withdraw the extradition bill that was the spark that led to this now-13 on thef a role of unrest streets of hong kong that has boiled to the point of dividing the city, and there were five main demands and this was top of the list. refusedcarrie lam has to meet any of those demands. bill, after it was first seen that one million people plus would hit the streets of hong kong, she said the bill was suspended but was not formally withdrawn. that meant to the protesters that it could be revived at some point in the current legislative session, which expires in july of next year. plenty of time for the government if things died down to bring back that bill. now it looks as if she is finally acquiescing to the top demand of the protest group. she will officially scrap this legislation. she had previously s

in the stephen engle is city center for us now. what will happen tomorrow?row is the big day because yesterday of course was more violence. towas a band rally trying march towards the government house behind me. it was met with stiff resistance from police. we have seen footage of the pepper spray being shown. weekend of ther last 17 weekends in a row, it truly is rally, rinse, repeat. this whole place has been cleaned up. earlier this morning there were remnants everywhere. gogglesand helmets and and broken pieces of the public infrastructure. it has all been cleaned up and the cities back to work for this one day. but tomorrow is a public holiday and the weather is good. even the police have rejected the application for the planned demonstration on october 1, the expectation is more people will be coming out. it will not just be the violent extremists. babies be families with and strollers, grandparents like what we saw in june. will it get to those numbers? no one can predict. but there is still resistance group ofom a large society against the government

a one hourfriday special, stephen engle investigates the cause of the unrest and looks for a way outent players from all sides. debuting this friday. this is bloomberg. ♪ beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because 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. ♪ taylor: i am taylor riggs in san francisco. this is "bloomberg technology." coming up, pressure rises as some board members of wework consider ousting the ceo after the delayed ipo. plus, snap to attention. the giant seems to be helping the federal trade commission. plus, vimeo to become a publicly traded com

stephen engle has been covering it since the beginning. how did carrie lam's first dialogue go? hen: she is meeting with what many in the audience were -- some were even wearing their masks. there were 150 people in the audience in this town hall session last night so she did meet them face-to-face and that has been one of the biggest criticisms of carrie lam over the several months situation, if you want to call it that, which has devolved into violence on the streets. steadfast inetty her insistence that the other four main demands of the protesters are not realistic to meet, however, she did say the entire unrest is caused by the governments work in amending the extradition model. she took that upon herself. the extradition bill was -- the government tried to fast-track it through the legislative council earlier this year. that was met with stiff resistance within the legislative chamber itself and it morphed onto the streets and then the several months she did not withdraw it officially, that led to more anger on the streets. to went on to say we want make it clear there is a

our chief north asia correspondent stephen engle has the latest.ing tension keeps ratcheting up? this is the 13th consecutive weekend of demonstrations. i keep saying that every monday morning here recapping the weekend. frustrateders are that the local government is not meeting any of their demands. the local government, i'm guessing is frustrated because the violence is escalating and they say they are not going to have sears dialogue i'm paraphrasing, and -- i'm paraphrasing, serious dialogue until the balance as out. and are they talking to the right people. on friday we heard they rounded up a number of the figurehead leaders of the protest movement. that angered a lot of people who turned up on saturday afternoon for that band demonstration. march.banned that had a barricade set aflame on hennessey road. ofleast two live rounds sidearms fired by place. they felt their officers were in serious danger. devolve and chaos on the mtr. that is the subway line. several tastes -- several stations had their subway turnstiles damaged. the link to the a

stephen engle says the new strategy is sobering late realistic. soberinglyg late -- realistic.ing to be speaking to the president of the african development bank. he is going to be in new york city and he will join us. a look at u.s. markets now -- the s&p 500 up just more than 0.1%. the dow up zero point 3%. the nasdaq down three points. ♪ ♪ >> we have 30 minutes left in the european trading day. the europeanis close on bloomberg markets. guy: let's see where we are. volume isn't a great. we continue to see these volume days. the story out of europe is the pound on the move, but not for breakfast -- for brexit reasons. wen if we get a brexit deal may need a rate cut. miners are well bid today. brent crude down .7%. basically, there was a headline earlier on suggesting that maybe we are going to get a partial peace deal in yemen. that sent prices lower and we closed the gap between the spike higher that we saw off that the saudi attacks to where we are now. vonnie: in the u.s

stephen engle has been covering the unrest from the get-go. do we have that dialogue?ot of people attended. there are a lot of raised voices and difficult questions. how did ago? -- did it go? stephen: it was a lottery system. hundred 50 people got that privilege and most of the questions to carrie lam were urging her to meet their five demands. 26 of the 30 members of the public who got in questions to carrie lam urged that. withdraw the bill was number one. that has been met. the other four, perceived intransigence on the part of the government, not willing to set up a commission for inquiry into alleged police brutality. they will not give amnesty for those arrested and charged already. they want declassification of certain classes not to be downgraded from writing. and the overarching goal is universal suffrage, which is harder to achieve. it's a basic law, but it's written purposely vague. this is what she had to say about meeting those demands. many of those questions hammered her. she took a beating. she says we want to make it clear, there is a bottom line. you

stephen engle investigates the causes and looks for a solution with prominent players from all sides.s friday, at midday hong kong time, 2:00 p.m. in sydney. give your preview of what to watch in markets. sophie? sophie: going into the tuesday session, we have a string of pmi data from developed economies. the pmi data from japan came in its lowest since 2019. -- january 2019. for readings from germany and france. we'll get a pulse check from china. when hong kong opens, we will get the latest reactions from ab inbev as china ipo. they are said to price a listing at the bottom of its market rage again. -- range again. this will make a big dent in the $100 million debt burden. that's it for daybreak asia. stick around. this is bloomberg. ♪ here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop,

you stephen engle joining us from hong kong. let's turn now to a bloomberg exclusive.eviewingirlines is fleet requirements. the demise of the airbus 380, the president says the current economic slowdown is already affecting the business. i spoke to him earlier today ahead of the aviation festival tomorrow. ofwe are seeing signs diminishing demand, rate of growth falling off. not going negative, but slowing. it is beneficial for of -- for us if the price comes down and remains down. it will take advantage of that going forward. certainly, not just emirates, but most of the international long-haul carriers are facing problems in regard to what is happening in the global economy. this is driven by not just the potential trade wars between the major parties today, but also all sorts of other things whether it be the geopolitics of the region, the socio-economic clinical regions. we are not in a good place at the moment. we will deal with it. guy: you expect things to improve or do you expect things to remain as they are, or do you think things are going to get worse? what

stephen engle has been covering the unrest since the beginning. ie lam's first dialogue go? stephen: well, it was an interesting session. let's put it that way. it was a town hall meeting with about 150 residents that were chosen by lottery, but if you look at the demographics and the types of questions she got peppered with, 30 questions in all, 26 of those members of the public out of the 30 asked questions, urging her to meet the protesters' five demands, which carrie lam has acquiesced to the first one, withdraw the bill, but the other ones, committee of inquiry, amnesty, declassify the riots and universal suffrage -- all of them have not been met and some of them are even much longer term in scope, but she did say the entire unrest is caused by the government's work in amending the extradition law, so taking full blame. she says her government is shouldering the biggest response ability to find a way out. shery: is there any indication will give into any of the other demands? >> she said, "we want to make it clear, there is a bottom line. you

stephen engle investigates the cause of the and rest and looks for possible solution.ong kong on edge this friday at midday, 2:00 p.m. in sydney. ♪ paul: let's get a quick check of the latest business flash headlines. setting up a $4 billion operation to develop autonomous vehicles with a u.k. based company. the project will be split 50-50 and aims to have a production driving platform by 2022. plans to invest more than $12 million in autonomous or electric cars. shares rose 12% this year while aptiv has surged more than 40%. kathleen: the aviation authority and lion air are pushing back at a local investigation into last year's fatal boeing 737 max c rash, saying too much blame is being put on the indonesian side. directed toward the carriers. the faa in the u.s. is preparing to send regulators around the report. update on their paul: airlines operating in hong kong are calling for government help to offset the business impact on the street protests. a ministry board representing 70 carriers is urging the government to implement temporary policies, including a waiver

stephen engle investigates the cause of the unrest and looks for possible solutions with prominent playerssides. hong kong on edge this friday at midday, 2:00 p.m. in sydney. ♪ kathleen: i am kathleen hays in new york. paul: i am paul allen in sydney and you are watching daybreak australia. a quick check of the latest business flash headlines. shares in china's tesla rival nio plunged after a less than excited quarterly loss, thousands of job cuts and concerns that a bubble may be bursting. problems include ballooning costs and major recalls and have prompted them to raise $200 million of extra funding. that made some analysts analysts speculate as to whether the company can actually survive. kathleen: knocking on the other hand had all-time high in late trading after earnings beat estimates and signaled a previous period's rare miss was a blip. sales share rise, while grew 7% to nearly $11 billion. nike is relatively insulated from the trade war because while a quarter of its products are made in china, some of that is sold there rather than exported. paul: new management at hong kong air

stephen engle will provide leadership on hong kong on edge.ng experience in the buttressing of china against hong kong, and we are thrilled to bring this to you tonight at 8:00 p.m. in new york. i am sure it will be held digitally as well. joining us for a weekend usefing, karen lee joins from our bloomberg news bureau. what we expect this weekend in hong kong? karen: this will be a big weekend. we have seen the protest taper off in turnout over the next couple of dust last couple of weeks. -- last couple of weeks. outle are expected to come in accordance with the significance of the date. the main protest organizer, the civil rights front that has organized some of the biggest mass protests over the summer, they are preparing a gathering this weekend for tomorrow. we are expecting this to can you -- continue into the anniversary of october 1. francine: anything short of carrie lam stepping down won't satisfy the protesters, or do they want something else? karen: they have five major demands and say they will not go home until carrie lam meets

tom: really looking forward to stephen engle's friday. the 9:00forward to a.m. discussion of mr. of weaker sterling and weaker euro as well. this is bloomberg. ♪ beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because 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. ♪ pres. trump: it's a joke. impeachment for that? alix: investors stick with defense. impeachment consumes d.c. investors burrow into the dollar and treasuries, even with stocks near record highs. wins for farmers and wineries. president trump declares victory and says a deal with china could come sooner than you think. peloton, the latest unicorn, prices at the top of its range. welcome to "bloomberg daybreak" on this thursday, september 26. i'm alix steel. in the markets, we are still 0.1%, equity futures rise a stones throw away f

joining us from hong kong, stephen engle. juliette saly is also with us. let's come to you first.en following the story for a long time. this would be a real game changer in terms of hong kong authorities and, by extension, the chinese authorities bowing to the demands of protesters. >> yeah, this is big news. to,again, as we just spoken the pro-democracy legislator, he says it may be too little too late, but it is a little step forward. obviously, the markets are responding quite jubilantly to this news, they are up sharply. news came out of the carrie lam, within this hour, is meeting with her cabinet as well as pro-beijing lawmakers which control the legislative council. plans tos her reportedly withdraw this extradition bill. led to the spark that the crisis we've had over the last three plus months she said the bill was suspended, it was dead, but she was steadfast in her refusal to withdraw. , pro-democracy protesters said wait a minute, if you're not officially withdrawing, that means it could be resurrected anytime during the current session which does not end until july o

. >> thank you very much, stephen engle. let's ask a question of our guest host this morning. the hong kong impact -- there is a global perception. impact one global markets? impacts the hong kong the global outlook? max. bring that to -- >> people take this as an excuse to just sort of mask the underlying fundamentals have deteriorated and have for a year and a half already. taken geopolitical risk, political risk as the excuse to say if we hadn't had fine.we would have been the old world order would have been with us still. if all that is nejra: this is "bloomberg daybreak: europe." check out your first word headlines. the markets. juliette saly never does first word headlines in this show. what's wrong with me? good morning. >> i use to. but i'm covering the markets today. we are seeing the yen with a handle of 106. the impact tariffs kicking in. 0.4%.great start to septedown t in australia, energy stocks are under pressure today. the rba coming through with its decision tomorrow. weakness in both the kiwi and aussie today as the tariff impacts come into play. just concerne

stephen engle joins us. what is the latest? secretary,e chief the deputy to carry laying -- carrie lam use the term terror and it is reminiscent of what the chinese officials in hong kong affairs office said august 12 and 13th when we had the sit in and disruptions at the airport. they said demonstrations resembled acts of terrorism. this has remicade -- ramifications if they are appearing -- upping rhetoric calling this a terrorist activity. then you start justifying emergency power acts or options the government has come above hong kong and chinese. lam did notarrie rule out invoking emergency regulations. it was enacted by the british in 1922 but last used in 1967 to quell riots. it gives police sweeping powers to arrest and the ability to rigorously search property. they can censor publications and shut down the internet. grant such ability. wordu start using the terrorism, you could start talking about article 18 of the if a law, which states state of emergency is declared by hong kong, chinese authorities could implement

cfo stephen engle saying the bank strategy is soberly realistic.la climbing the most since june after ceo elon musk says things are looking up. in an email to employees, musk says the electric carmaker has a chance to top the vehicle delivery record it set in second q, on track to reach about 110,000. for the second quarter, tesla reported more than 9000 deliveries. the lower margin model three sedan revving up demand. i'm viviana hurtado. that is your bloomberg business flash. alix: thank you so much. but did they get that approved by the person that is supposed to approve those tweets i elon musk? weekly we turn to our "business week" feature. ' ceo is making it update to keep up with rival tactics. and a wealthy businessman writhing a wave of discontent to the land's highest office. and aviation shame hurting airlines, increasingly under pressure as passengers become more climate contests -- more climate conscious. joining ms. joel weber. mcdonald's is investing -- joining me is joel weber. mcdonald's is investing in big tech. reporter: the ceo

north asia correspondent stephen engle has been listening in on this news conference. news conference. centered around this reuters report and this audio that has surfaced where she is heard saying, if i have a choice, the first thing to do is to quit, having made a deep apology. she went on to say that few options are available, as issues have now been elevated to a sort of sovereignty and security level. she also told those business leaders in the closed door meeting last week that she had caused unforgivable havoc. she was not so forthright today in the press conference when she was asked directly about these comments. she was actually quite angered that these comments were leaked and what she thought were private, closed door conversations. she says, i have never tendered my resignation with beijing. i have not even contemplated to discuss my resignation. the choice of not resigning is my own choice. again, that has always been a question as well, with the resignation as well as the potential to withdraw the extradition bill. she now is saying it is her choice if s

stephen engle's of commerzbank goes to danske bank.his is bloomberg. ♪ francine: this is "bloomberg surveillance." now let's talk about banks. dots bank is still reeling from the fallout of europe's biggest money-laundering scandal and has a new cfo. it is a name familiar to those who follow european banks. stephan engle has served as cfo of commerzbank since 2012. he will leave at denmark's biggest bank. let's get more from philip richards in our london office. to the latest reshuffles suggest more difficulties? >> i don't think so. i think it is the case of a new ceo and getting his own people on board. these are people he knows from the market, and as you mentioned , the former ceo has been there for seven years, so he has got experience. i think it's more of a case of chris to me and credit dots danske taking control going forward. francine: do you expect any change in strategy at nordion -- at nordea? >> i think it is positive for them. when the former ceo says it will retire, that takes away a lot of power so anybody co