according to steven mnuchin, sally, both sides are working the phones to get the little details doneroposed phase one text would include a quite broad tractor on protecting us intellectual property rights in china and partially touch on the issue of forced technology transfers to chinese companies. up until this point, sally, beijing has denied its laws requires such transfers and any that occur are the result of commercial transactions. other issues included in the phase i deal are the opening of the mainland financial services market, currencies and agricultural issues. in phase two, manu chin said some technology issues would be addressed, as with non—financial services. he said the trump administration objective was for the agreement to be signed at the apec summit in chile. earlier this week steven mnuchin said if there was no progress on the deal, the trump administration could still impose the planned 10% tariffs on $156 billion of chinese goods, taking effect on the 15th of december. the clock is ticking thank you so much, rico in singapore. now let's brief you on some other

. >> reporter: at the same time, treasury secretary steven mnuchin announcing new sanctions on turkey. >> the president hasn these sanctions are very, very strong. he is prepared to remove these sanctions if there is the necessary actions on turkey's point. >> reporter: but those moves came just hours after president trump seemed utterly dismissive of the kurds, long u.s. allies who feel betrayed he

later, treasury secretary steven mnuchin.e treasury secatory >> yep. >> joins us to talk about china trade. the escalatining tension with china. here is a look at friday's s&p 500 winners and losers ♪ through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from managing inventory... to detecting and preventing threats... to scaling up your production. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. you should be mad that this is your daily commute. you should be mad at people who forget they're in public. and you should be mad at simple things that are unnecessarily complicated. but you're not mad, because you're trading with e*trade, which isn't complicated. their app makes trading quick and simple so you can strike when the time is right. don't get mad, get e*trade and start trading today. what are you doing back there, junior? since we're obviously lost, i'm rescheduling my xfinity customer service appointment. ah

we haven't gotten much news today about steven mnuchin stepping outside.uld we read a lot into this, or is this someone just walking outside? >> probably just someone walking outside. a lot ofe did not get headlines out of these meetings or even presidential tweets has a good sign. it seems like negotiators are focused on what they should be focused on, going over the pieces of paper and legal texts of what can get done in the next 24 hours or so. it is probably a good sign. we know that the vice premier is supposed to see trump tomorrow. thee have any sense of what point of that meeting is supposed to be? >> we don't. cautiouste, let's be about the fact some of the progress was undone after the president was briefed or he found out something he didn't like and moved ahead with tariffs anyway. from himlong ways away sitting down tomorrow, but the fact we did not get explosive tweets is good. they will walk across lafayette .ark tonight we will see what comes out of that. they will recap how the day went. we are a long way away from announcing a partial dea

robert lighthizer and steven mnuchin released a statement saying the u.s. is closer to finishing phase one of the trade deal, giving investors a reason to bed up share prices. although they have stalled out, we are looking at gains in materials and technology. intel is the best performer in the dow industrials, giving an update profit and sales forecast, shrugging off of those trade war concerns. we will be talking with reporters later on to discuss the state of brexit. there is the chart that i want to highlight. because you are here, we are watching the loonie. amanda: hitting key levels last week. we are still waiting for the bank of canada. we also have an election with parliament. it is interesting to see the currency. we already saw weakness priced in. speaking of, amazon trading off the lows of the session, possibly because we had decent news on the trade file. here is a look at the profit declines we are seeing for amazon. company had coached investors that it will see a loss. it's been giving profit and growing it. now not only is it saying the 1.5

treasury secretary steven mnuchin is set to hold a briefing in just a minute or two here. we're being told it's not about china but that he will be taking questions. we'll follow that event live for you as it plays out, of course. markets are happening on to about a 427 point gain right now as they focus on reports of a china trade deal. that happens at 2:45 p.m. between the president and the advi vice premier of china. we've got positive signals from the uk, even from the eu that a brexit deal might be possible. will is here with more. are we talking about a deal by the end of the month, them leaving? >> possibly. the market move suggests there's hope of that. sterling has surged nearly 40% in 48 hours as hopes of that brexit deal have dramatically improved. the uk and european risk assets have loved that news, especially the domestic focus ftse 250 and the irish stock market to avoid the worst case scenario of a no brexit and the uncertainty that an election would bring. having seen hopes for the uk prime minister boris johnson's deal lowered on monday after reports of a

steven mnuchin just wrapped up a news conference where he said turkey could face powerful sanctions.e comes as president his decision to pull back some american forces in northern syria which clears the way for turkey to send its forces into the country and attack american allies. there has been a breakthrough in u.s.-china trade talks. bloomberg has learned the nations have reached a partial agreement that will broker a truce in the trade war and lay the groundwork for a broader deal later this year. as part of the agreement, china would agree to some agricultural concessions and the u.s. would provide some tariff relief. it is tentative and subject to change as president trump prepares to sit down with china's top negotiator today. a powerful typhoon could drop as much as 30 inches of rain on tokyo this weekend. damaging winds are in the forecast as well. the government is warning residents to stockpile necessities

joining us now treasury secretary steven mnuchin. secretary, you announced friday that you now have the authority to impose sanctions on turkey for what we're seeing unfold. given that we've seen 100,000 people displaced, these isis prisoners out, execution of some of america's kurdish allies, what's the hold-up? why don't you impose the sanctions? >> this is a complicated lopingtion. you have a nato ally on one hand fighting against the kurds who were helping us with the fight against isis. we're in daily communication with turkey, both at the defense department, the state department on very specific issues. we are ready to go on a moment's noticed to put on sanctions. as i said, these sanctions could be starting small. they could be maximum pressure which would destroy the turkish economy. the president is very focussed on this. he's offered to mediate the situation. it's a developing situation. >> what are you waiting for? look at what we saw on the ground. this is a rapidly deteriorating situation. >> you are correct. it is movin

hearing that news from steven mnuchin, we're stunned by that.t speaks loudly from being on the ground in turkey, what's making the most noise are the facts of the sound, the turkish are ti-- artillery pounding all day, the helicopters overhead, seeing tank after tank heading to the syrian border. that is what is having an impact, not a statement from steven mnuchin or tweets from the president saying turkey will never stop this step no matter what anyone says, it will continue this fight until we go further south and push 20 miles from the border. so the genie is out of the bottle here, turkey is doing this and we've been watching them do this now for the last three days. there are thousands of civilians fleeing, people are dying. from seeing those tanks on the way to the border, i suggest the bloodshed will get higher now and this plan by erdogan is coming off the rails and he has to pull back but we're a long way from that at the moment. certainly washington is flailing around, frankly, is the way it looks from here and has no ability to contr

we take you live to the white house for a briefing with treasury secretary steven mnuchin. >> a new executive order gives the treasury department in consultation with themselves and secretary pompeo very significant new sanctions authorities that can be targeted at any person associated with the government of turkey, any portion of the government, this will be both primary sanctions and secondary sanctions that will be applicable. the resident is concerned about the ongoing military offensive and potential targeting of civilians, civilian infrastructure, ethnic and religious minorities, and the president also wants to make very clear it is imperative that turkey not allow even a single isis fighter to escape. again, i want to emphasize at this point we are not activating the sanctions but as the president has said, he will provide very significant authorities based upon the continuing efforts. so he will be signing this and they will be active and we will be working in consultation the department of defense and department of state to monitoring this very quickly. we are putting financial inst

treasury secretary steven mnuchin. >> it was a tremendous achievement. >> steven mnuchin pledged to increaseions against iran. chilean president fired eight members of his cabinet following 10 days of riots and protests. the ministers were all dismissed. he named a younger and more centrist team to replace them. they heard the message from protesters that they want a more fair and inclusive society. a top pentagon adviser argues that u.s. restrictions on recruitment in information sharing is counterproductive. he spoke at stanford university causing -- calling for access to china's top scientists. ban on individual travel could see the number of visitors fall for the first time since 2003. the number traveling to the septembernged 46% in according to data from taiwan's tourism bureau. global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. david: thank you. equity markets are losing some momentum as we go into the later part of the session. about hong kong, seeing some weakness there. be as farconti

trade representative, steven mnuchin, the representative. >> another thing, were in a real battle, it'seen a long drawn out battle but the president in the and will get what he needs for this country and he does not need snipe from the side. >> within his own administrati administration. >> i have to tell you, the party that this president is working with, what a hand to draw too, these rinos in establishment -- like mitt romney where they chirp and candidates from the sidelines as if their observers with great gravitas and knowledge. it is laughable except for the fact that it seriously undermined this president. >> the problem with romney, the end of the day he begged the president to endorse him and he wanted to be secretary of state and he did not get it. now he thinks he's going to be the leader of the opposition in the republican party. and i promise you the voters of utah will support this president 100%. and romney better get to know that very quickly. lou: i think romney -- he is pathetic at this point. and if the president has not paid him neither would be. let's turn the rino

steven mnuchin is speaking to lawmakers.has said he's had meetings with counterparts at the g7 and level. he's also talked about it with other international counterparts, and has told facebook the libra launch plans are premature. the share is down about 1.5%. let's get a check on the bloomberg first word news. courtney donohoe has more. courtney: softbank's taking control of wework. founder adam neumann will leave the board of the struggling startup. sell $1is expected to billion of stock to softbank. he can also assign two board seats and will get a $185 million consulting fee. sales of previously owned homes in the u.s. fell to the slowest pace in three-months. contract closings were down to an annual rate of just under 5.4 million homes. meanwhile, median price jumped almost 6% to 272 thousand dollars, the biggest annual sales gain since january 2018. in canada, voters gave prime minister justin trudeau a second term. trudeau overcame a number of scandals, and claims what he calls a clear mandate. still, his liberal part

trade representative robert lighthizer and treasury secretary steven mnuchin and.held a phone call with the chinese fight premier and said discussions will continue at the deputy level. peter navarro tells fox news, phase one could be signed as soon as next month. california's biggest utility admitted its electrical equipment may have ignited a wildfire burning in one country today. that is despite lack of being imposed across the region to prevent such blazes. pg&e had a power line failure in sonoma county moment before a wild fire broke out. it burned at least 25 square miles and prompted evacuation orders or about 2000 people. a federal judge has held education secretary betsy devos in contempt of court because she violated in order to stop collecting federal loans from thousands of former students who attended corinthian colleges, a for-profit school change shutdown in 2015 as it faced allegations of fraud. macronpresident emmanuel has blocked the european union's attempt to delay brexit for three more months. that means it's possible u.k. may not know if it wi

after last week's positive signals in the us—china trade war, us treasury secretary steven mnuchin has the tone again. let's go to our asia business hub, where rico hizon is following the story. rico, what did he say? really sharp turns, threats, warning china that if a deal isn't struck by the middle of december, new tariffs on $156 billion worth of chinese goods will be imposed. but president trump seems to be more optimistic, describing the talks on friday as a love fest, and he said the preliminary deal would take about five weeks to complete. and, you know, it might be signed with chinese president xijinping know, it might be signed with chinese president xi jinping at the apec summit in chile. but listening to the chinese officials, they have been more cautious, more conservative in their approach about the outcome of those talks, simply claiming there had been progress between the two countries. earlier i spoke with a former white house international economics adviser to president trump, and he said a deal is still on track, despite mnuchin's comments. he doesn't expect, though,

this was an idea steven mnuchin floated in february.the details, but presumably it would have something to do with china and the weight controls its currency. i'm wondering if that is a part of the deal and there is a mechanism to enforce it, do you think that is something that would actually be positive? kyle: when you understand the depth of the chinese negotiating position, especially as it , theys to their currency have told the state department that the worst position, the worst deal japan has ever made in their economic history was to sign onto the plaza accord from the 1980's. he said japan was willing to give up their economic superiority for the united states. my guess is the chinese are never going to sign onto any kind of plaza accord-like agreement, which is what i am hearing. the funny thing is the u.s. is in the best position it has ever been in. china's trade deficit is running double digits on a combined basis. their fiscal balance, and now their current account is headed to zero is lower from a secular perspective. chin

treasury secretary steven mnuchin says there are plans for more negotiations.om mackenzie is watching all of this in beijing. we were cautioning yesterday against to much euphoria in the markets for this day one mini deal. it seems like beijing is pouring cold water on these developments as well. tom: absolutely. our sources telling us negotiators want to return to washington, potentially led by the chief negotiator of the chinese aside, the vice premier, to iron out some of these details before they plan to sign this potentially at the apec summit in november. they want to get more of these details locked down before they put it in front of president xi jinping to sign. there is reason for that caution. may 2018 was one example when the chinese came back from negotiations with the u.s., thought they had some kind of deal. it looked very much like the phase one deal we have now. then, trump did a u-turn and they were left looking rather humiliated. you are seeing that in the language being displayed here, as well as the fake media is reporting. they are talking

steven mnuchin has confirmed there are plans for more negotiations. is watching this in beijing. whatindow at this point, is the deal both sides are trying to iron out? >> it looks like china wants to hold more talks before xi agrees to anything. also told usre that china is looking for trump to remove the plan to tariffs in december. it looks like the two are not on the same page on what is going on in this handshake agreement. on the one hand you have trump saying that is one is almost signed away. they can move on to phase two. one is almost signed away. they can move on to phase two. china is becoming increasingly wary of trump. trust has broke down over the past two years. the two sides have been close to a deal only for talks to break down. there is also a view in beijing that for xi, it is politically unfeasible for him to agree to any deal. let's not forget that the billions of dollars of existing tariffs still remain in place. >> if you're looking for signs as to how the next round of talks could progress, what would be something to look at?

treasury secretary steven mnuchin says ankara could face powerful sanctions for the military incursion. seeing the u.s. will shut down the turkish economy if ankara goes too far. >> president trump has authorized and will be signing a new executive order, giving the treasury department in consultation with himself and secretary pompeo very significant new sanctions, authorities that can be targeted and any person associated with the government of turkey and a portion of the government. >> that was the u.s. treasury secretary. let's take the story to washington. good evening to you. we've got president trump and his cabinet threatening sanctions against turkey. what does that mean? >> it means the administration is say and see. a lot of politicians across the political expert -- political spectrum say the administration has tried to peddle back or make a situation which is really bad for them better. this is damage control area this is the only opportunity or impossibility for the trump administration to do anything to put jeannie back in the bottle. those sanctions are authorized. it d

steven mnuchin talking china tr mnuchin talking about the phase one agreement the white house reachedhina. those discussions set to happen shortly. new reporting from my colleague at cnbc says china wants another round of talks before china signed that contract for phase 1. rallying more than 1% friday, investors are optimistic about this idea. kristen welker spoke to the treasury secretary moments ago. >>> when you buy a building, you've reached an agreement to buy a building and negotiate the contracts. >> there will be more talks? >> again, there's execution work to be done on the document but this document is substantially done. we've made a lot of progress. >> the secretary also cautions this a mid-december tariff deadline could still go into effect if both sides aren't able to reach a deal. we'll be right back. aetna takes a total approach to your health and wellness with medicare advantage plans designed for the whole you. and monthly premiums starting at $0. plus hospital, medical and prescription drug coverage in one simple plan. and health coaching and fitness memberships to

it could be steven mnuchin or kellyanne conway. coming up, the u.k.ament is set to kick off a brexit vote. we will have the latest right here. from toronto in new york, this is bloomberg -- and new york, this is bluebird. ♪ -- this is bloomberg. ♪ marco: i am mark crumpton with bloomberg's first word news. in the u.k., lawmakers are set to vote minutes from now one prime minister boris johnson's brexit deal.even if he gets enough support in the house of commons, it may not be enough to get the agreement through parliament by his october 31 deadline. johnson says of parliament defeats is proposal and votes for another delay, he will scrap the deal and call for another election. stay with lumber for live coverage of the vote. u.s. secretary of state mike pompeo says the 120 hour cease-fire along the syria-turkey border is due to come to an end today. theeo was making remarks at conservative heritage foundation today in washington. secretary pompeo accompanied vice president pence last week on a mission from president trump to pursue a cease-fire with tu

he walks back the optimism we heard from steven mnuchin.e said, nothing is agreed to until everything is agree to. we are still haggling over enforcement of any deal. if we do not have enforcement, we do not have any enforce meant currency commitment. we do not know anything that comes out of this week is any binding enforcement mechanism. we are going into this with some cautious optimism. a lot of confusion. a lot of troubling signs hanging over these talks. it seems everyone is looking at the here and now and what can be achieved and getting to a more realistic point that it can maybe be a big deal. amanda: we do have the countdown to a new round of tariffs. it is hard not to picture that there are multiple strands of talks going on including negotiating existing tariffs. there must be some industries lobbying hard about taking things off the table. how much of that goes on in parallel? >> those back level lobbying calls have been going on for a long time now. it appears reporting we had a couple weeks ago on this interim partial many de

one trillion agreement, according to a statement from robert lighthizer and treasury secretary steven mnuchin held a phone call with the chinese vice premier and said discussions will continue at the deputy level. trade official peter navarro tells fox news that phase one could be signed as soon as next month. meantime, mexican officials believe the usmca trade deal could be approved in weeks and implemented within three months. the under secretary of foreign relations for mexico made the comments today alongside the mexican president. what goasar

. >> treasury secretary steven mnuchin and housing secretary ben carson were and capitol hill to testifyut access to affordable housing and finance reform options. lawmakers also heard testimony from the head of the federal housing finance agency. -- we willto order come to order. the chair can order recess at any time. this hearing is entitled "the end of affordable housing? a review of the trump administration's plans to change housing finance in america." before i recognita

treasury secretary steven mnuchin says the next round effect in december if no deal is reached. >>> production of harley davidson's first electric motorcycle has been halted. the company says the live wire has issues with its charging equipment. harley davidson has been hoping the $30,000 electric bike will help rejuvenate sales and bring in new customers. the company hasn't said when production and sales will resume resume. >>> ester duflo and banerjee -- experimental approach to alleviating global poverty. the third winner of their team, michael kremer says an urgent message from a swedish colleague looked like a scam until it dawned on him wo anth report. for more head to cbs moneywatch.com. at the new york stock exchange, i'm diane king hall. >>> time now is 4:42. >> coming up next, the loma prieta quake then and now. a special look back at the disaster and how the bay area has recovered 30 years later. >>> taking a live look outside the van gogh. to harrison, the wine collection. to mateo, my favorite chair. grace, you get the beach house... just don't leave the lights on, okay? to craig,

treasury secretary steven mnuchin and says he is encouraged by china's verbal commitment to open markets and remove certain investment restrictions as part of a trade deal with the united states. secretary mnuchin tells reuters china is also pledging to remove forced technology transfers as part of the phase one agreement, but he is not at the point to make recommendations to president trump on the status of the tariffs scheduled to take effect december 15. the justice department is close to a sweeping deal in fugitive financier jolo to recoup almost anillion dollars looted from indonesian investment fund. sources say could be the biggest recovery and an anticorruption crackdown by the u.s. government. as settlement could be filed soon as this week in a california court. global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. >> live in toronto, i am amber kanwar. welcome to "bloomberg markets." here

ticking for the trade clock is negotiators and from what treasury sec tary steven mnuchin said, there's a l of work to do by nid november. for "nightly business report," i'm eunice yoon in betg. >>> taution surrounding the partial trade deal put pressure on oil prices. the energy department is watching oil prices in the middle east after the u.s. said it was deploying me troops in saudi arabia. domestic crude settled 2% lower. >>> one of the companies that has the most to win or lose in the u.s.-china trade war is caterpillar, in part because of the amount of business it does in that country. that's why it's followed so outlook is becoming more why its difficult to predict. seema mody has more. analysts see caterpillar as a of trade proxy for the market given it global footprint tied to china's growth story as well as its reach into the u.s. mark. >> caterpill isrobably the single most leaf verieder namer the u.s. china tradens relat you could find from both ends. simply because it has to get ath benefit fro farmer's side, u.s. side, and just generally from the chine demand that they se

. >>> treasury secretary steven mnuchin says that the united states is getting closer to a new trade with china.>> we have a lot of work to do but i am confident that both sides will work hard and anticipate that we will be closing this. and includes very substantial issues. i think of people originally thought this would be about agriculture purchases. there are multiple chapters. slacken what is being called phase one of the new trade deal, the united states is calling off another set of increased tariffs on chinese goods and china has reportedly agreed to by almost $50 million in american agricultural products. >>> president trump has ordered all u.s. troops to be withdrawn from northern syria as a situation becomes more dangerous. without the protection of said the kurdish fighters are s now cutting a deal with the russian backed syrian government forces to help them fight back against attacks by turkish troops. president trump has been criticized by democratic and republican lawmakers the for abandoning the kurdish fighters but defense secretary mike mark esper defends the presi

easury secretary steven mnuchin called on lawmakerso help the administration cut spending. >>> consumertiment dipped slightly in october. according tthe latest university of michiganerurvey. ans are more worried about the economy now than a year ago but they did remain fairly optimistic when it comes to their job situation and financial health. econom ts watts watch sentiment inditors coastly because in theory the more optimistic the more consumers spend. and spending makes up a large portion of economic activity. >>> dow component verizon topped analt profits and revenue estimates. the largest wireless carrier in the u.s. attracted more customers with less expensive unlimited data plans, and expanded the s 5gvices to four new cities now totalling 15 in alet despite ther thanxpected results though the stock fell a fraction in today's trading session. >>> it'sime to lookt some of toy's upgrades and downgrades. dick's sporting goods upgraded to buy from neutral. goldman sachs. the analyst cites management's effort to increase traffic. the price target is $45. the stock is up 1% to 40.36.

despite optimism from president trump about progress in talks, us treasury secretary steven mnuchin is deal. monica miller is in our asia business hub. it's one step forward and one step back? where are we? high level trade talks expected to take place next week, however, before investors get too excited about any progress, steve mnuchin is sending a message to the chinese ahead of these meetings. in an interview with cnbc, steve mnuchin said a new round of talks set for december 16 could kick into gear if the chinese do not sign the tentative deal they reached in washington last week. —— new round of tariffs. president donald trump says in contrast it was a lovefest with beijing officials, that they had during that two—day session. now, he did say a preliminary deal would take about five to complete, they may be able to sign something when the chinese president, they all meet at apec in the summer in chilly. chinese officials were not so chilly. chinese officials were not so lovey—dovey about the whole thing, they said it was a cautious and conservative meeting. —— chile. they simply

treasury secretary steven mnuchin continues to oversell this. >> i think that's right.>> how much of this is china's long-term strategy, trying to string this out to the election to see what the results of that might be? >> there's an abs expect of that. -- aspect of that. i think more broadly, china doesn't want to make concessions on these tough issues. to be honest, there have been so many reversals in the trade negotiations and some of them have come from the administration. so beijing right now is skeptical. they don't know if any deal would stand up. in other words, if they were to go ahead and make concessions, would it actually keep the u.s. from imposing more tariffs down the line. so there's mutual distrust on both sides. which makes it really difficult to tackle the tough issues. maria: all right. we'll leave it there. michael, great to get your insights. thank you very much for being here. coming up this morning chuck robins is here, steve scalise is here along with ehud barack. we have a big show coming up. bailing on libra, company's backing out of faceboo

then, treasury secretary steven mnuchin said this. >> when you buy a building, you have to look at the contract. there's execution work on this document. but the document is substantially is done. >> it's not a deal. it's a talk to have a deal. it's an agreement to not make things worse but to continue talking. some key issues will be unresolved as the possibility of another flare-up looms. >>> an enormous search and rescue operation going on in japan. a storm hit over the weekend, bringing widespread flooding and mudslides. more than 80,000 households in the country were still without power as of last night. >>> should california's largest utility company pay for the problems? these folks, they don't have time to go to the post office they have businesses to grow customers to care for lives to get home to they use stamps.com print discounted postage for any letter any package any time right from your computer all the amazing services of the post office only cheaper get our special tv offer a 4-week trial plus postage and a digital scale go to stamps.com/tv and never go to the post off

but leaving the talks today treasury secretary steven mnuchin seemed pleased.resident trump had high praise portray gowd -- praise portray y gowdy. lou: turkish forces surrounded two cities inside the syrian border. forcing more than 60,000 people to flee the area. erdogan is threatening to send 3.6 million syrian refugees into europe if the european union continues to call turkey's incursion into syria an invasion. they have had a deal to prevent refugees from entering european nations in exchange for financial assistance to help care for this to refugees. joining us, robert o'brien. as the saying goes, you are hitting the ground running and everything is moving quickly around you. let's start with syria. the turkish government obviously has insisted on a major military operation and are carrying it out. what do you see and what is the view from the white house. >> it's great to be here with you and talk with you again. look, we made this clear to president erdogan early on that the invasion of syria was a bad idea. we did not endorse the military operation. w

treasury secretary steven mnuchin and robert lighthizer will be talking by telephone friday with the vice premere of china. part one doesn't address human rights, the con strarn d the cot stream of black listed chinese companies and the appropriation of u.s. intellectual property and technology by various means. joining us, dr. michael pillsbury, it's good to see you. it's highly irregular, is it not, for there not to be paper? to have this deal in its current form on paper to proceed? it is -- this is to me an extremely unusual situation. >> yes, because president trump is a bold negotiator and there is no precedent for these kind of talks. the chinese deny any intellectual property theft and deny forcible technology transfer. even the basis for the talks is in digs piewt. what the president has done is first get that 150 pages we heard about in may, and now the chinese are wriggling out. so the effort to get paper is important. we don't have any precedent for what president trump is doing. obama, presidents before, they didn't try these tough negotiations to pin the chinese down, a

treasury secretary steven mnuchin.d israel that if it didn't take aggressive steps to check for an investment, it could jeopardize intelligence sharing agreements with washington. number sources say the board of french carmakers have approved a merger with chrysler. it would create one of the world's largest auto manufacturers. the entity would be split equally between shareholders of each company. investors would get a $6 billion dividend. the u.s. just -- justice department has struck a record deal with jho low to recoup almost $1 billion looted. he orchestrated the theft of more than $4 billion. the settlement filed in california would be the biggest recovery yet from the malaysian investment fund. global news 24 hours a day on air and on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is labor. shery: thank you. the federal reserve has at the policy's button, cutting its key rate for the first time this .ear -- third time this year saying it won't do so

that is the alexander hamilton concept, our first steven mnuchin. these are low-level tariffs.oreresident can cover sectors and raise tariffs to a higher level, but has other options to l -- escalate as well. , how dochael pillsbury you define yourself specifically with your relationship with the president on china? guest: i am like a friend or guest to answer questions. host: here to talk about u.s.-china relations, if you want to ask questions, (202) 748-8001, republicans. (202) 748-8000, democrats. . independent, (202) 748-8001 if you want to text us, (202) 748-8003. you can post on facebook. our guest has written a book. i want you to respond to a story on the daily beast website. i will redo the headline, you are quoted as an advisor handed information about hunter biden from the chinese. i said last night on the blue dobbs program. to beijing.nt visit i said the chinese are unwilling to say anything about hunter biden. i had never seen them so secretive about an issue. the story says reportedly, you were given information about a trip there last week. were you in china la

she sent a letter to treasury secretary steven mnuchin basically warning about the fed sort of tryinglance that as an opportunity to loosen regulations. joe: it is a really interesting question. the question that emerged when repo rates spiked, why did the big banks like jp morgan and so on, who are sitting on excess warren, -- elizabeth what she is legitimately curious about, using it as the pretext for loosening liquidity requirements imposed after the financial crisis so they could be orderly wound down. should theytion of loosen the requirements or add more reserves? caroline: it sort of sets her up with further fights with wall street. romaine: it comes the day after jamie dimon made those comments. joe: it is very on brent for her to be the one to dive into these -- on brand for her to dive into this. this is bloomberg. ♪ caroline: shakeup at nike. the footwear giant says board donohdonna you will -- oe will succeed mark parker as ceo. nike?w for >> i think nike has been in controversy this year for some time and may be part of it is, if you look at who they are as chiefonahoe e

treasury secretary steven mnuchin giving investors reason to worry after the president's highly touted one of the china trade deal on the verge of a deal reportedly closing in on a deal

treasury secretary steven mnuchin and robert lighthizer. prospects already looked dim since the weekend since there were reports out that chinese were thinking about dropping all together one of the very important demands of the u.s that is the long-standing concern about state subsidies. still now, president trump said overnight. he's hoping for a big deal but a lot think things don't look good and maybe at best, we'll see an agreement to talk again between the two leaders. >> when you are black listing firms before you sit down to have talks with the company. don't go away, i want to talk about something else that is the growing battle between china and the national basketball association. new developments this morning, apparently china state broadcasters saying it is not going to show any nba preseason broadcasts country wide? >> reporter: yes not only that. tencent, the private company said they are also going to halt all of their nba broadcasts. again, this is continued fall out because of a tweet the general manager of the houston roc

treasury secretary steven mnuchin giving investors reason to worry after the president's highly touted phase one of the china trade deal on the verge of a deal reportedly closing in on a deal but head winds remain. black and big blue ibm with another disappointing earnings report. and don't be a fool. president trump's unconventional message to turkey leader it is thursday, october 17 "worldwide exchange" begins right now. ♪ >> good morning. welcome to the show, we'll hear from brian in california this morning. netflix set to miss based on one key issue. >> shares up just about over 8% but the stats were not all positive subscriber additions below estimates. warning that subscriber growth would all fall short citing finance changes and more competition. their ceo saying the streaming wars are noisy >> fundamentally, there is not a big change here. it is interesting that we see apple and disney launching basically in the same week after 12 years of not being in the market i was being a little playful with whole new world and the drama coming disney will be a great competitor apple is ju

whenwell, steven mnuchin, he talked about this in february, said it was one of the strongest agreements ever, but bloomberg intelligence, our own in-house team, suggests that maybe it will not have as great an implication for china's fx policy as may be steven mnuchin had suggested and it may be more of a face-saving effort for the two sides to reach what they are describing as some of the deals. where you get the core issues around intellectual property in tech transfer, ironed out at a later stage. in terms of what it might look like, it will probably mirror the kind of agreement the u.s. came to with mexico and canada, which involves some of the previous g20 agreements on things like transparency, so maybe not as much in occasion as china's fx policy regime some have suggested that it seems to move things forward. potentially a mini deal. shery: on top of those tariffs, the u.s. has implemented some other measures against china, including blacklisting tech firms, not to mention sanctioning some of their shipping companies. do we know if beijing has any more demands towards the u.s. a

trade representative office, bob lighthizer, steven mnuchin got on the phone this morning with vice premiercontinued their discussions about the phase one deal president trump to sign down at the apec summit in chile. interesting

. >> we have gotten word from a trade representative's office, bob lighthizer, steven mnuchin got onhe phone this morning inh vice premier liu he beijing, saying they made headway in areas and are close to finalizing sections of this deal. -- inpositive and that that to lift hangover over global markets and the economy, but the big question is, what comes next after? ritika: still ahead, as we review the week on "bloomberg best," more on the earnings front with earnings from boeing, caterpillar and tesla. plus highlights from the week's most interesting interviews. and more of the top business headlines. sweden's central bank works the global trend and sticks with its plan to exit negative rates. >> the right thing is going slowly. ritika: this is bloomberg. ♪ ritika: this is "bloomberg best ." the week's top business stories. in canada, will the prime minister -- the prime minister keeps his seat, but loses parliamentary majority. a justin trudeau has won second term among scandals. >> thank you for putting your trust in our team. think you for having faith in us to move this countr

treasury secretary steven mnuchin, and how he is prepared to sell an abstract painting 15 years after work for a fraction of the price, a de xxii,", "untitled estimated to be 25 millions or $35 million in worth. and technology to transition. payingers have consumers twice, a first member to have all caps work on multiple devices by 2021. -- to have all apps work on multiple devices by 2021. and raising venture capital, with few having women on their team, more evidence that diversity can improve financial results, a female founder making more money than others. all of these stories on our bloomberg terminal and @tictoc. romaine: u.s. fed chairman jerome powell said an effort to avoid a repeat of what we have seen in money markets is underway, and we heard from powell today. we have heard from the fed. they will extend these short term purchases for a while. some questions about whether this is key -- whether this is q.e. or not, but at the end of the day, this is support that clearly seems to be needed based on what we have had. >> yes, and i think it was surprising to markets that we

. >>> treasury secretary steven mnuchin and rick perry are both in saudi arabia.y're taking part in the country's annual future investment. this is nicknamed davos in the desert. the murder of the journalist caused them to jump in. cnn's john defterios is live, a show for support in salei leadership here. >> clearly, christine. nice to see you. this is a very clarified position and strategy by saudi arabia to revive investment and even the brand as you suggested. last year in the same venue. the no-shows are here from the trump administration. mnuchin was on stage, get this, just five, six minutes, but it was long enough to usher in support for saudi arabia to say they have the right approach to reforms and offers the right investment opportunities for the united states. that was ditto for the bankers. i i ha i have approached some in person. known wanted to talk. the idea is be present in riyadh, but don't go public with the support internationally right now. do it quietly. i think saudi arabia is quite happy with that. they're letting the money do the talking. t

will come as a delegation arrives in washington to resume trade talks with robert lighthizer and steven mnuchin. we are asking the question on mliv, what is the best way to trade negotiations? reach out to us and the team on your bloomberg. joining us is sarah hewin. great to have you with us. if we get any sort of partial deal, whether it does include a currency agreement or not, would that be enough to halt the slowdown in global growth? a partial deal? question. a very good if we reach this stage, maybe three months ago, it is possible. it could have been significant. business isw is operating according to uncertainty and any accord is not necessarily going to deliver the predictability and certainty they require. unfortunately, through this whole dispute, we have seen steps forward, steps back, reconciliation, then new tariffs being imposed. i think we are at the stage where businesses are extremely cautious. the agreement is probably factored into a certain extent. that pricked ability is just not there. creditability is the issue. i breaking news story from ecb, set to buy ra pharmaceutic