so we have to be very careful, even though i'm hyping this sydney thing, we don't want to use sydney as the model of what the actual resources are, we need to lean on things like battery storage instead of gas. finally i will say the fact the renewable energy market is tight is exactly the reason why we need to finally get started with what advocates have been pushing for for the last 12 years, which is that city-wide renewable energy and efficiency master plan to build it before the 2020 timeline staff has put forward because the sooner we have hundreds of megawatts of our own local generation and resources in efficiency, the less we will have to rely on those tight renewable energy markets and we've got a situation right now, community choice is going gang-busters in california and there are over 80 cities and counties, almost the entire west coast of california is switching to community choice. and most of them are not doing local buildout plans. so what that's going it create is a situation where there's so much dmrapbld for renewables that the renewables won't be there or they w

so we have to be very careful, even though i'm hyping this sydney thing, we don't want to use sydney as the model of what the actual resources are, we need to lean on things like battery storage instead of gas. finally i will say the fact the renewable energy market is tight is exactly the reason why we need to finally get started with what advocates have been pushing for for the last 12 years, which is that city-wide renewable energy and efficiency master plan to build it before the 2020 timeline staff has put forward because the sooner we have hundreds of megawatts of our own local generation and resources in efficiency, the less we will have to rely on those tight renewable energy markets and we've got a situation right now, community choice is going gang-busters in california and there are over 80 cities and counties, almost the entire west coast of california is switching to community choice. and most of them are not doing local buildout plans. so what that's going it create is a situation where there's so much dmrapbld for renewables that the renewables won't be there or they w

let's start with sydney.are getting closer to some sort of political certainty there as counting resumes for a second day. sydney is down by just about 1%, given that we do have this essentially down to two seats as to which government the country will end up with. energy declining across the region. orange and, one of the top decliners, down to close to 5%. not declining our precious metals. the top three winners are gold miners. evolution up by 7%. saint barbara resources. they have done very well. region,e around the this is coming through unsurprisingly from tokyo. the yen holding -- hovering around 100 to the dollar mark. what can the bank of japan do? analysts say they will try to job own the currency a little weaker, if not launch some kind of stimulus. that market is down by close to 3%. we have seen oscillation when it comes to japanese stocks. we are down 7% post brexit. we rebounded 4% and are back to losses. thele when it comes to crane markets. shanghai is protected. it is off by just 0.2%. we ha

the plane struck the bird shortly after takeoff from sydney on monday and the plane landed lack at sydney a short time later and no one on board was injured. >>> fireworks lit up the night's sky across america for the independence celebration. a smaller than usual crowd defied rain to watch last night's show in st. louis. here in new york city, the light show was atop the empire state building. it was decked out in red, white, and blue for the nation's 240th birthday. millions of american use the freedom of a three day weekend to get away. a record 1.2 million travelers passed through the los angeles airport. >>> america's troops received a unique tribute from major league baseball. for the first time, a big league game was played at a u.s. military base. miami scored 5-2 win over atlanta before a crowd of about 12,000 last night at ft. bragg in north carolina. service personnel and their families received free tickets. >>> some washington state firefighters have a new buddy. perhaps knowing that they protect his woodlands home, a friendly elk dropped by to say hello. they actually named

paul in sydney. stage later today, trying to unite the party. the indiana governor was chosen by donald trump for his conservative credentials. we will go to saw shot eisenberg who is joining us -- sasha eisenberg from cleveland who is joining us. >> one thing we have not heard this week is an established politician making the case for a donald trump presidency. we heard from his kids, some people outside of the conventional political sphere, so the job incenses to not -- intenses do not talk about hillary clinton, but to explain why donald cap is ready to be president and why he would be a champion of conservative values given his mixed record ideology. yvonne: and the statement on the speechwriter who is accused of plagiarism. what did they have to say? >> we got a letter released today on the donald trump letterhead, from a woman that was not part of the public conversation about the campaign. she identified herself as a junior writer who had taken responsibility for writing speechng -- melania's

joining us live from sydney.ut china's property prices, it will give us indication on the health of the economy, when they come out and a couple of hours. the latest data shows growth studying on the back of an epic borrowing binge. let's bring in the executive editor for economic data. this is not a good sign. us, else can the data tell or what can it tell us? reporter: we had a lot of data of china out of friday. we did not just get aggregate financing. we got industrial production, retail sales. retail sales were ok. overall gdp was a touch of better than forecast. there is this sense that while china's growth has held off, it has largely, not entirely, but largely been financed by borrowing. yvonne: that does not seem like it could stop anytime soon. as that he and she goes, is that good enough for china? -- as study as she goes for china -- steady as she goes? dan: let's go back to january and february when the dominant commentary was there is some sort of apocalyptic hard landing coming for china. whatever

i caught up with her coach mike the track where sydney will be training. i asked him about sydney.t kind of personality as she was to mark. >> is sometimes a loner, sometimes really. pretty average kid in school. walk through the halls like anybody else, very humble, is nott asking for any fanfare. >> i asked if you knew that she was going to be bound for the elliptic's? >> her older brother is here and he's pretty good. and they said she's even better. and then after a few weeks of training i could tell that she was on like anybody i had ever coached. i asked what was the secret? how did you make it to the olympics was a secret ingredient? >> is there any special food sheets? or anything anything she does to make her extraordinary? that could make the rest of us extraordinary too? >> i don't think think i have an answer for you. she eats a lot of stuff. she likes cheeseburgers. so maybe more cheeseburgers and i can be headed to the olympics. this is also the first time the coach will be physically going to the olympics himself. he has just become an olympic coach i cannot even get

. ♪ we will be visiting singapore, sydney, and philadelphia.anese stocks on the way down, the yen strengthening, investors waiting for the boj. shinzo abe announced that massive spending plan. sales, samsung's buying back $1 billion in shares. do le us know what you think of our top sto. let's get into this next picture across the asian market. here is a look at what is behind sentiment. >> we do have singapore unemployment data to in an hour and a half. it is expected to rise from 1.9%. malaysia coming online. pressureeen downward on the kospi. it is down by 2/10 of 1%. samsung reported its earnings today, but weakness on japan's equity market as investors were given that surprised by shinzo abe prime minister. we have seen the yen strength and and the world in the boj's court, awaiting their decision tomorrow. australia, some upside there on the rally in gold. weakness in other mining players. some mixed movement on the base metals exchange in london. new zealand down by a 10th of 1%. a little downward pressure coming through once again. the

details from sydney coming up next.is bloomberg. ♪ ♪ yvonne: you are watching "daybreak asia." big movers to tell you about in japan. fujifilm has fallen after the first quarter profit to miss estimates. them up 7.7%eing and raise their operating forecast by 14%, the skin care line. searching for percent in tokyo after lifting -- 14% after lifting. is sharese to watch looking like this at in early trade in aussie up 4/10 of 1% after it revealed a charge after last year's collapse in brazil. let's bring our correspondent now in sydney. this is a share of the reparations deal, right? >> that is right. bhp soe half owned by this payment between $1.3 billion, they say that is approximately equivalent to half of the current estimate of their estimations and this is after the disaster in november where they first in 19 people were dead and extensive pollution created. they said in a statement this demonstrates our support for the long-term recovery of communities in environments affected by the tragedy. you will see this char

paul allen, like that of sydney. text for that. -- life out of sydney. thanks for that.urprised investors by leaving interest rates on hold. the monetary policy committee said more time was needed to express -- two look at brent its impact on the economy. impact on at brexit's the economy. the found -- the pound fell immediately following the decision. bankverseas arm of china's of communications is expected to have an ipo, which could raise up to $200 million. if the bank of communications does proceed with a plan, it would be the first of china's big five lenders to risk and investment banking unit. says incomecope interest and tax will rise to $436 million. asia, upve rallied in about 40% in china. is fivew in sydney, it and 1/4% higher. coming up, details on what is being done to achieve this goal in the region. this is bloomberg. ♪ angie: the french president has extended the state of emergency for three months and will the employee and next or 10,000 security forces after what is now being called a terror attack in nice. for the past hour, the french interior minis

in 2013, they took sydney incurred -- sydney securities and mercy that to create one of china's largestrokering firms. this will be a another step along the way that china wage and and the chinese central government are looking to make a, more sound financial companies. the $20you mentioned billion in assets between them. is this going to be a good fit? what do investors think? fromter: we were hearing lucas in hong kong saying it is a good deal for cic see -- cicc. they used to be the largest brokerage. it is tied to high net worth individuals and corporate clients, giving it the best banking background. china investment securities does more mass-market brokerage. those two could combine and create a broader client base, if you will. so far, that looks good. stock went up 1.5% yesterday. , you can see were the news broke coming out of the lunch break. it was up more than 2.5% at one point, closing out 1.53%. yvonne: a lot of these state linked investment companies are intertwined in some ways. what is the connection between these two? mentioned china international capital corp.. it has

so we have to be very careful, even though i'm hyping this sydney thing, we don't want to use sydney as the model of what the actual resources are, we need to lean on things like battery storage instead of gas. finally i will say the fact the renewable energy market is tight is exactly the reason why we need to finally get started with what advocates have been pushing for for the last 12 years, which is that city-wide renewable energy and efficiency master plan to build it before the 2020 timeline staff has put forward because the sooner we have hundreds of megawatts of our own local generation and resources in efficiency, the less we will have to rely on those tight renewable energy markets and we've got a situation right now, community choice is going gang-busters in california and there are over 80 cities and counties, almost the entire west coast of california is switching to community choice. and most of them are not doing local buildout plans. so what that's going it create is a situation where there's so much dmrapbld for renewables that the renewables won't be there or they w

live in sydney, with the latest.k at some of the big events we will be following for you this week. tuesday will bring arbitration on disputed waters in the south china sea. an international court in the hague is to rule on philippines claims to the islands also claimed by china. also, leaders for the eu and china me for the 18th bilateral summit. the two-day talks will focus on political and economic relations, and fallout from the brexit decision. the bank of korea announces the latest rate decision on thursday, and the five -- economist expected to hold at the record low, and that is after a surprise cut last month with the central bank governor signaling the chance of further easing to come. angie on friday, latest economic data chinese growth slowing even further. economists expect gdp to have risen 6.6% last quarter compared with 6.7% in the previous three months. the wait is over for australia, after a tight election with malcolm turnbull to be officially sworn in as prime minister next week. he claimed victor

sydney stocks up by 0.5%.er but it soon turned to positive territory suggesting that whatever negativity that this uncertainty from the vote, the short-term market movers that sentiment is holding up pretty well. the australian dollar recovering . the latest of the credit raging -- credit rating agencies say they may be moving on the aaa rating that australia appraises so highly if the parliamentary deadlock remains and that is the concern going into a home parliament or a minority government unable to pass through structural reforms. gains in southeast asia, as well, led by singapore. it has been a very interesting session. yields in japan which record lows anna: thank you. in japan, breaking news from the mobile messaging business. they are trying to price their ipo. now it seems they are increasing the price on the ipo saying they are changing the ipo price range to ¥3300 per share. they are increasing that, citing demand and market conditions. the brexit france overead with the claim london businesses. the

she joins us live from sydney, australia.gest thing we are looking at may be the last thing we are looking at, which is the boj meeting. what are we expecting? everything short of helicopter money from the boj? >> that's right. going tonk that we are get another round of easing friday. essentially, j.p. morgan expects the size of it to be increased to $100 trillion in terms of asset purchases. we are also expecting a cut in the and it will be trillion -- interesting for the markets. fiscal stimulus is obviously what everyone has been talking about. we only expect a package of about ¥10 trillion. i think expectations generally and the market were around ¥20 trillion, so probably on the low side, therefore a strong risk of disappointment this friday. also, going forward over the next few months, we think dollar-yen will be on the decline back towards 100. betty: what does that tell you then? the immediate reaction, what is priced and exactly in the yen right now? >> that's it. i would say market expectations are around that 20

let's go to paul allen in sydney.is surveyed by bloomberg unanimous, no cut today but it could be a different story for august. muche position is pretty reversed by the time august isls around and the reason the cpi. notwithstanding all the political turmoil going on, the reserve bank still expected to keep that cash rate unchanged but later this month, consumer prices. into it was very weak in consumer prices in the first quarter that caused the reserve bank to cut the cash rate back. -- take a look at those trade figures we had a minute ago. much worse than expected, a $2.2 billion deficit. the aussie dollar pulled back about 1%. that helped propel some hefty revenues. imports cost more. these deficits keep getting wider. economic reform is looking bleak. look county resumes today in australia's nailbiting election. any indication of who might be holding power soon? but,would love to say yes no. votes to beposted counted. they all have to be sorted into the correct electorate before the counting can get underway. th

we will take you to sydney to try and find out. bloomberg. ♪ withad: you are back "trending business". i am rishaad salamat. mh 370.ing search for they found no trace of the flight the disappeared in 2014. we have been following this story from the get-go. a piece whether they are looking in the right place. >> that's right. i guess that is the next question, isn't it? we have almost finished the a nont search, which is mas in its expanse of southern indian ocean. present -- they are 90% through that. they are now saying that we might be looking in the wrong place all along. this of course has huge implications for the search zone. rishaad: now the thing is, what are people telling you about where else this aircraft could actually be? yeah, of course you know there are many conspiracy theories about where this aircraft is, but the science of the search all indicated that the aircraft did fly south towards the southern indian ocean. the big question is, and the real black spot in this investigation for the last few flight.of that fi

the latest production forecast by sydney.he world's biggest mining company is expecting productions to be flat this fiscal year and cut spending by 44% after petroleum outputs slumped last quarter. microsoft gained in extending trade after profit failed estimates. fourth-quarter revenue was $22.6 billion after adjustments. the ceo has been changing to cloud and productivity services as sales shrink. donald trump has told supporters he is going all the way after securing the republican presidential nomination. his son made the announcement as the home state of new york pushed him over the line. the nomination was almost guaranteed. global news 24 hours a day powered by more than 2600 journalists and analysts. i'm rosalind chin. this is bloomberg. yousef: turkey's central bank cut its overnight lending rate, slowing the pace of borrowing production after the weekend'd failed coup. we are keeping a close eye on the turkish lira as it flirts with record lows against the u.s. dollar. we pulled it up on the bloomberg. why did the c

they are all in sydney this morning.this big crunch coming through from a celia care, down 31% after the first impact at 29 million australian dollars, down from a year ago, and it cut the for your guidance. be search, this is likely to ample supply when the u.s. summer season finishes, so that is coming off. oil search leading losses in australia, but there has been a flight to safety, gold, so new crest money looking good. looking at the trade, a little. it felt like 0.5%, $44.54. from energyakness players in the region today. yvonne: donald trump is expected to deliver the most important speech of his life in a few hours. he officially accepts the republican national nomination. he pictures this nation on disaster. he presents himself as the only one who can fix it. toss a eisenberg joins us from the gop convention in cleveland. tell us more about the focus today. ha: we have been hearing for several weeks, from talking about the law and order candidacy. what we have seen of his speech, suggesting from violence, crime

yvonne: joining us live from sydney. thank you. coming up, the next guest says he is not worried about brexit. in fact, he remains optimistic that it may lead to your changes. the chief economist joins us in a moment. this is bloomberg. ♪ ♪ yvonne: breaking news from nintendo. looks like stocks headed south, falling a .6%. this is the most since june 24, but what a rally we have seen in the last couple of days or so, and somehow ubs including, saying nintendo rapid market afterion hard to explain it has beaten up companies such as sony so we will continue to watch that one. nintendo stock down today. a check on the latest headlines. equip our aoup said national gas trading in europe by the end of the year. the commodities trader is said to be downsizing capital intensive units which traders and support staff meeting the company. they have had a turbulent 18 months with a rally in commodity prices and the company's stock falling 45% this year after a 65% drop in 2015. the mobilephone carriers could prove a rare bright spot in this c

. >> reporter: sydney. >> sydney was the people. there was a family that i got to know, and then seeing the opening ceremonies. >> reporter: eight years ago he thought it was time to bring his two daughters, morgan and charlotte, on the adventure. charlotte was just 13 at the time. >> beijing was parkling. sparkling. we went to a food market. they had fried score pe mescorp on a stick. and you know, i said, i'm going to try that. >> reporter: it will be her father's ninth. >> this time i've got my wife, two daughters and a son-in-law now who is coming along. we start off with team handball. we see fencing, badminton, table tennis. we've got diving tickets. >> reporter: it's not all sports and sightseeing. it's also a way to make family memories. their home in menlo park is teeming with olympic mementos, including 5,000 pins chuck selected over the years. obsessive collectist meets the kentucky derby. some classic ones. >> this pin has been there since the dawn of time. >> reporter: much to his daughter's distress, they make it onto

for more, i want to get over to paul allen in sydney.ts are still being counted, but the result, they look pretty clear now. >> it does. this strain of electoral commission will not declare a final tally until july 15. as we stand, the government has been returned with a slim majority. if we look at the ruling coalition, 76 seats leading. the opposition labor party on 69. it is possible the government may get to 77 seats. held a pressull conference to celebrate a victory. here is what he had to say. earlier today, bill shorten called me and congratulated me on the reelection as prime minister. i think bill for that call. as you mentioned, it took more than one week to get here. malcolm turnbull said he discussed the possibility of having electronic voting in the future. >> malcolm turnbull has gotten the victory, but in for a tough three years, right? >> he is. , so is not a big majority he has been talking to independence and cross benches, among them one mp who looks after a huge electorate about the size of texas in the far north of t

for more, let's get to paul allen in sydney. paul, the economists were pretty much unanimous on no cut, but it's a different story for august, right? paul: that's right. it is 100% in favor of the rba staying today, but fast to august and those positions reversed. reason for this, aside from the political turmoil, it's all about the cpi in australia. it was back in may that we had our first deflationary fall in seven years, quarterly data due out on july 27. the rba meets again a week after that. they're going to do it then. he did have interesting piece of data, the trade balance blowing up. $2.2 billion deficit, up 2%. the aussie dollar was down. this is all part of a trend in australia of ever widening structural deficits, and it looks like we are set for a hung parliament, so don't expect policymakers to do anything about it. the onus will be firmly on the reserve bank to continue doing what they can to stimulate growth. yvonne: talk about that hung parliament, paul. the counting resumes today in australia, and this really c

sydney lowe, a local guy. i remember watching him shoot 3s at nc state. good to see him. i have known we were teammates back in the 1900s, and that's forever ago, and he's one of the finest, great person, and i'm excited he is joining our staff, and he loves it, and we all will, and we are excited. >> to baseball, dusty called out his teem after a black luster loss. >>> it was a get away day for the series in new york. scoreless in the 1st. harper changed that in a hurry. he's an all star starter. his 18th homer of the season. fast forward to the 5th, and the nats are up. that's a moon shot to center, and the nats win it, and they avoid the sweep. a reminder, the tsna this friday night, coverage at 7:00 right here on wusa 9. big series for the nationals, and all the all star playing in san diego, and look at the all star uniforms. >> are you kidding me? san diego colors. >> those are interesting. >> interesting. >> that was nice and diplomatic. >> not very attractive wow. these are awesome! this is my dream car. yeah, i like this. i've been waiting to get in this. real pe

. >>> in sydney, australia, hundreds lit candles and sang the french national anthem to remember theictims. the flags were hoisted above the sydney harbor bridge. >>> and in california, the santa monica pier paid tributes to the massacre. their famous ferris wheel illuminated in red, white, and blue. the same colors as their national flag. >>> still ahead tonight on wusa9, the presidential ticket is official just in time for the party's national convention here in cleveland, ohio. i'm weijia jiang with the latest coming up. >> for many kids with special needs, a day spent water skiing or tubing may just be a dream. but look at the people making that dream come true. >> governor mike pence returned to indiana hours after donald trump announced him as his vice president. weijia jiang has reaction from cleveland, ohio tonight. >> reporter: supporters packed in airport hanger to welcome governor mike pence back to indiana. just hours after donald trump officially introduced him as his running mate. >> today, in new york city, i accepted donald trump's invitation to run and serve as vice

taught at harvard law school at the harvard kennedy school of government, at the college of law in sydney, australia, and the university of rome. in 1980, president carter appointed justice breyer to the united states court of appeals for the first circuit, and he was the chief judge there from 1990-1994. president clinton nominated him as an associate justice of the supreme court to succeed justice blackmun. he took his seat on august 3, 1994. he has also been a prolific writer, not just of judicial opinions. many books, wonderful articles, on a very wide range of important legal subjects, both domestic and international. published last september. in a nutshell, in my view, and i am sure you will agree with me, justice breyer's career is powerful evidence of the enduring contributions that a single individual can make to society when he or she is just -- blessed with a keen intellect and an innate sense of decency, justice breyer: that was a pretty long introduction. i will give you a short introduction. i am very happy to be here and introduce you, and i am glad you are all here. i do w

one of them returned fire and struck 21-year-old sydney washington junior of southeast washington. he died at the hospital. >>> the fbi believes the robbery of a bank church was not a first for the suspect. surveillance pictures captured the heist at the td bank. here is the suspect described as man 50 to 60 years old with gray hair. yesterday's incident shut down traffic in the area over concerns the ecsuspt left behind an explosive device. investigators believe he may have robbed a bb&t bank on arlington last month. the fbi is offering a $5,000 reward for information leading to the suspect's arrest. >>> we are just getting started on wusa9 news at 5:00. president northern virginia man charged with trying to help isis bought a gun before he was arrested. we are live with new details from the gun store. >> a powerful senator taking himself out of the donald trump veep stakes. >> president obama announces that thousands of u.s. troops will stay in afghanistan for longer than expected. >> and right after the break, police keeping up the pressure as they hunt for the suspect that shot

let's get over to paul allen in sydney. what will we see? say. it is very hard to it could be a minimum of 13 days before we know any result. it could be longer if there are recounts. we are in a state of flux. with 67 seatsling and the labour party 71. a lot of things have to fall his way. the reason for his confidence, pulling votes often go to the liberal party. leaders of both parties have been speaking to the independents. -- thosess bridges cross benches have yet to declare one side or the other. we are in a complete state of flux. voters have opted for a total policy paralysis. this is the worst possible outcome for them. it could mean widening deficits first rally a and a risk -- for australia and the risk for the trading -- for the credit rating as well. yvonne: if that does not happen, is the job on the line? deliver -- inot the 48 hours, there has been a lot of discussion that malcolm turnbull could face an internal revolt. there are some examples in recent history that he may not. the former prime minister very nearly lost his seat af

let's go to sydney.icant legal hurdles in the way of any potential deal, right? guest: you could say that. that is not actually legal for britain to engage in any deals outside the eu but that is about to change did if theresa may had a conversation on the phone on saturday, the australian prime minister calling that discussion constructive while theresa may is it saying that she has already said that britain want to make a success out of the brexit and striking trade deals across the globe is part of that bitterness of the two leaders with an opportunity to meet in september when they get together for the g-20 summit in china to discuss is a little more, angie. seen thishaway before? and trade deal between britain and australia would be winding back the clock? guest: yes, you might remember the days when britain joined the common market and what a disaster that was for australia and new zealand, losing one of its main trading partners. 90% of australian exports collapsed overnight and it was a similar s

in sydney australia. trading session is coming to a close there. there is a look at the sydney opera house. ♪ the top stories on bloomberg markets middle east. bernie sanders has told the democratic convention that it is no contest. hillary clinton must become the next u.s. president. the democratsr are seeking to present a united front following the resignation of party chair debbie wasserman schultz. a sony come delon wright has struck a deal to try to seal off the middle east's biggest default. they signed an agreement with creditors to and the seven-year impasse. they are restructuring around $6 billion of debt. around 90% of creditors have agreed to that plan. remaining claimants are expected to sign within the next few weeks. angie: the forward impulse to has become the first aircraft to fly around the world powered only by the sun. the airplane touchdown in apple dobby this morning. abu dahbi this morning. it made 16 stops in its 16 month circumnavigation of the globe. it is 12:30 p.m. here in hong kong. it is 8:30 a.m. in i dubai. we are so

. ♪ angie: we will be live in seoul, korea, sydney, but first, here is what we are watching.kening.eps on happened thisit fast, investors fled. samsung is enjoying a recovery with profit beating estimates thanks to the demand for the galaxy smartphone. position foring ipo's and southeast asia, raising more than $1 billion in the first half. thailand was the third. you can let us know what you think by following me on twitter. don't forget to include the #♪ ♪ #trendingbusiness. singapore and taiwan have just come online. david: malaysia is closed today. singapore opening to a mixed basket. we are up a fifth of 1%. still weighed down by valor-yen. i think that is the story. we have been moving sideways since brexit. dollar-yen is the most important to keep in mind. we went about that ever so slightly. the dollar is weak or by a third of 1%. modest.keeping gains look at that. a few minutes before we get that fixing. i wonder what w they know that we don't. ,ave a look at 10 year yields the opposite of what we saw this week, yields coming back a little bit. still all-time lows he

paul allen is falling all of this in sydney. what is the state of play?l: malcolm turnbull had some , the seatlast night of gray had fallen to the coalition, taking them to 70 seats, the magic number being 76 to form a majority government. have improved. the prime minister was also in television offering a mea culpa for a disappointing campaign. a lot of his colleagues are unhappy, but he did get support from john howard coble who said nobody should be "lifting their throats at the results." -- slitting their throats of the results." australia's aaa credit rating could be at risk. australia's if deficits get wider, and that is guerin teed to happen with a minority government because we will be in a situation of policy paralysis. there won't be policy reform, deficit grows bigger, and that's when aaa is at risk. angie: thank you for that. plan top, samsung's spend its way back to success. we will ask if it can revive the brand smartphone business. anxietyre on the slide, over global growth intensifying, so is the brexit effect far from over? we will be dis

caroline: michael heath in sydney, thank you very much.eanwhile, the yield in australian bonds pushing ever lower. thank you very much. guy, we will be discussing bond markets in the next. guy: we certainly are. what i found fun was the aussie statement, selling off as they got to the last point. joining us now in london is john dalton, global head of j.p. morgan asset management. good morning. >> good morning. central bankers are looking at the political chaos they see in front of them. in the u.k., the eurozone, australia. the markets are pricing this, and you can see it quite clearly. there's a long-term chart of 10 year yields, continuing to grind ever lower, particularly down toward the zero line. the moment is at that without anything else changing, that story is not going to really alter, that we will continue to see the flight to safety, piling into treasuries. >> yeah. and i think that is very reasonable. certainly what we have seen is that the central banks have moved from necessarily looking at the fine details of their own econ

sydney stocks down by 1% amid political uncertainty. conclusion to get a from the weakened election. election.e weekend we had a little bit of a spike here, but it has come down now, 7509 at the moment. manus: the australian central bank cap interest rates on ho.d. -- rates on hold. the cash rate was left at 7.5% britain'sighs decision to leave the european union and the election. anna: what were the reasons for keeping rates unchanged? there are many uncertainties to deal with. >> there were and some of them got a mention, and some of them did not. the reserve bank of australia said it was "prudent to hold at this time." it did note volatility in the markets. but most markets have been continuing to function effectively. as for australia, overall growth is continuing, despite what it calls a very large decline in business investments. but no direct mention on the rather chaotic political scene we had here over the weekend, anna. manus: and 26 out of the 27 economists we surveyed at bloomberg expect a cut in august. why is that? there i

sydney stocks, down by .9%. we can see a number of the big losers in the mining space. crudeas the price of continues to slide in this risk off situation. a number of winners, though. not surprisingly, precious metals have been the top winners over the past few sessions. this is gold hitting that two year high. here in hong kong, some of these big energy names as well, saying this steep selloff. interestingly, shanghai and the main the market, well it's relatively well protected there. .8%, and that is not really too bad at all. let's get a quick look at the currencies because this selloff across emerging-market currencies continues. the aussi dollars still has continuing weakness. we see another 0.5% being lopped off the aussi. and quickly, we spoke about the yen, that we can see downside for the chinese currency. the pboc is really trying to manage. they want to weaken as we have this trade weighted basket. they actually set the daily fixing at the weakest since november of 2010. anna: thank you very much, haidi. three of britain's property funds have frozen 9.3 billi

paul allen, bloomberg, sydney. anna: we go live to paul allen in sydney.olls, i'm hesitant to read this question -- bookmakers or convinced the current administration will win. we have learned a few things about listening to bookmakers. give us your thoughts on the australian story. >> i understand your hesitation, but here are the reasons the bookmakers say that. there are 150 seats in the lower house in australia, and the coalition government holds 90 of those. the opposition labor party holds 55. you can see the scale of the challenge for the labour party. they need to win 21 seats to regain the treasury benches. many analysts think that is a bridge too far. they are likely to do very well as the polls indicate, but can they claim 21 seats? it seems unlikely. as you say, voters have been making fools of the bookies and pollsters on your side of the world. anna: we will see if they fare any better. what has the prime minister been saying in his final appeals to voters? we heard him ridiculing the opposition. he has been using the brexit conversation as a

let's get right over to paul allen in sydney.yment figures have come in line with estimates, which is always reassuring when it comes to all strays and implement figures, 5.8% for june, 7900 jobs created. encouragingly, 38,400 full-time jobs created, which is a reversal of what we saw last month, 30,600 part-time jobs lost, so possibly a lot of the part time jobs created in may way become full-time, one of explaining these statistics. the participation rate is 64.9%, so more people in or looking for work in june than may, so a solid set of numbers for the month of june. , a% unemployment as expected lot of full-time jobs created. angie: all right, adding close to 8000 jobs in june. thank you so much for that. let's see how the markets are responding. the aussie dollar had paired those gains, seven-week rally ahead of that report, but what is it doing now? juliette: a big spike from the aussie, up a third of 1%. it had been down 2/10 of 1%. a big jump in the aussie when those numbers were released, better expected -- than expected

addressing the media in sydney. he says he takes full sponsibility for the election campaign.is also updating 24 million australians about the latest results showing that voters are discontent with major parties. the two major parties getting the lowest support since 1943. turnbull saying that the election votes have been counted and 3 million votes will be counted over the next few days. really marking that we will not likely get an answer until the next couple of days. he reaffirmed his promise of a coalition free of rancor or division. he does remain confident that he can put together a majority in parliament, but of course reforming the government still left to be counted with 70% of votes counted so far. still 30% to go. it is all politics, disenfranchisement was key in this election, as well as it was with brexit. let's continue our discussion with cosi i'll of truth market capital. distant -- aa disenfranchisement but also anger that globalization. these are things that the average voter is feeling very angry about. .obias: absolutely he said thing is if you vote for br

this is bloomberg. 830 tuesday morning in sydney and i will hand it back to bloomberg's paul allen to the market. : trading about 1/5 of 1% following declines in the u.s.. futures indicating a modest three point gain on the local market. shareholders and other creditors will collectively take a $260 million hit on that. this media reports in japan that the government is going to double its fiscal stimulus package to ¥6 trillion. >> just a final word on south korea gdp. a slight rise expected to 2.9%. bloomberg tv and sydney australia. ♪ is investigating a massive hack attack on the democratic national committee. leaked e-mails shows committee members favored hillary clinton and undermined bernie sanders. the revelations have been distracting day one of the convention with attendees chanting and booting from the floor. the hack has been traced to -- joining me now my cohost for the hour, david kirkpatrick. here with me in san francisco, a former white house director of finance security policy legislation. where does the fbi begin here? what are they going to be looking into? they are g

i'm paul allen for bloomberg tv in sydney, australia. emily: this is "bloomberg west."mily chang. time for our weekly roundtable where we explore themes in tech investing. we hear a lot about moon shots but what do we know about them? often veiled in secrecy and development three years -- think flying cars and solar planes and the hyperloop. what does it take to fund them and which ones will breakthrough in our lifetime mark joining us is a futurist and nana biologist, partner on the next human genome project that aims to build a human genome in the lab. kurzweil whothan made early investments in companies including switch and para scope. thank you for joining us on such an exciting subject. i want to start with a broad weston -- why invest in moon shots? guest: they can change the world and make the world better place. they can change people's behaviors and make people's lives better. intractableve the problems of humanity. why wouldn't you want that? something i was thinking about on the way here -- we had a rough week in this country in terms of race relations, getti

i'm paul allen in sydney, australia.: this is "bloomberg west" and i'm emily chang. -- terms of the deal were not disclosed, but according to sources, it is worth a billion dollars. model isave's consumer eating into the share of razor brand and is on track to close in on 200,000 -- $200 million in sales this year. i guessed from new york, a -- an early investor in dollar shave and one of the first board members. you got 10 times return on this investment and this is a company not a lot of traditional investors wanted to back, yet they prove they can compete with gillette. what do you think it is that made dollar shave successful in a market where there were very established incumbents? guest: it's a very special company. low turn rates and extremely high loyalty, which is important. they were disruptive going after the razor category because they had a great al you play, one third the price of gillette razors. all of that couple together produced and incumbent killer that has eaten a lot of market share and is growing s

paul: a rather gloomy sydney harbor may set the tone.and running for 30 minutes and up -- often about a fifth of a percent. a similar story in australia with a modest rise of just a single point. one of the stocks in focus today is woodside, due to report second-quarter sales any moment now. it's not expected to be great. it is due to weaker oil prices and brent averaging $47 as opposed to $63 for the same time last year. on the watchc after slumping the most in three years on tuesday. i'm paul allen in sydney, australia. emily: this is "bloomberg west" i'm emily chang. the republican national convention is underway and recent surveys show hillary clinton and donald trump again that. company hasurvey filled the gap as many turn away from traditional polls. john cohen andh asked about many people in the tech industry speaking out against donald trump. guest: the immigration thing -- the letter was about trump and needing to be more open to immigration. immigration is an issue that divides both parties and it divides it in interesting way.

cpi numbers crossing the terminal, over to sydney.rint of -.2% in may. on year, the figure slightly worse than expected, 1% inflation on year, 1.1% had been the consensus. stripping out the volatile items , .5% gain, where a .4% had been expected. take a look at the aussie dollar. it began gaining sharply a few seconds before the data dropped, which is interesting. it is gaining nonetheless. now 75.6. among highus frequency trading algorithms is the reserve bank of australia may resist the cut when it meets on tuesday. inflation is still very weak. that is despite these better than expected figures, .4% gain for the second quarter, trimmed mean, .5% increase. thank you very much indeed, breaking news out of china. 5.1% showing there is more stability in the chinese economy as an improvement from the main number when we saw 3.7%. profits in china on the way up, 5.1%. we have reaction to that cpi print out of australia. yes, absolutely. we saw that big spike in the aussie dollar. juliette: have a look at that big jump. data,o react to t

. >> reporter: it's a long way since the sydney games. >> doesn't this boy have a future. >> reporterjust 15 years old. in athens he racked up six golds. in beijing j he became the official golden michael phelps. >> reporter: among the record 18 golds are other numbers. two duis and suspensions. one after he admitted to smoking marijuana. he went to rehab, transforming his attitude and his life. the best feeling, not holding the metals, but his newborn soon, boomer. cheering on his dad with those american flag ear muffs. >> that does remind me -- ryan rot can i, who is hotter? phelps or lokte? >> i can't get over his persona, a little too much me, me. but i'm excited to see phelps performance. he's in a different place. >> he's grounded. >> i wonder what it's like to come in having left the last olympics on such a high note. >> exactly. now you come like i've ever dropped the mike and picked it up five times. our bacteria family's been oni like to watch them clean,ns. but they'll never get me on the mattress! new lysol max cover with 2x wider coverage kills bacteria