together they had a little girl, sydney. >> their view, sydney was their property. >> one day he went to pick up his little girl for a visit and was never seen alive again. >> he died right there. >> but who would kill a devoted dad? the unbelievable choice, his golden girl wife or the gracious family matriarch. they seemed so loving, but was there another side. >> it's a monster that comes out of a closet. it's very ugly. >> how dark is that side? >> murderous. >> but which one was the killer? >>> hello and welcome to "dateline." he was a man suddenly confronted with something monstrous, evil at the door. this story is a mystery about a father of two young daughters. one night he left to pick up one of them and never came back. the question for investigators wasn't what happened. it was who did it. >> in the home of a god-fearing family in one of the smallest of american towns, the worst of crimes. >> please come and help us. >> okay. i'll get a hold of the ambulance. all right? >> yes. >> the crime became a mystery, a whodunit? >> it's a puzzle. almost a game of three card monte. >>

you're looking on the iconic sydney opera house. i am haidi lun in sydney.am ramy inocencio york, where it is 6:30 p.m., and you're watching "daybreak australia." jessica summers. jessica: tesla shares and bonds soared after elon musk said he would consider taking the company private. the initial announcement came via twitter, saying "funding secured." that would value tesla at -- reachare price failed to $420,000. that would be the largest leveraged buyout in history. speculation is rising that turkey will need a bailout from the imf, despite the lira recovering from monday's plunge. the currency rose on the news that officials are heading to washington for talks about a jailed american pastor and the sanctions imposed in response. there has been nothing from the government and central bank. investors fear president erdogan is blocking a rate rise. big banks are the winners from last year's republican tax cuts, staff not so much. 23 firms saved on average $388 million each in the first half. the groups eliminated 3200 jobs. lending rose almost 1% in the per

i'm haidi stroud-watts in sydney.amy: and i'm ramy inocencio in new york and you're watching "bloomberg daybreak: australia." to tesla now and the tale turns yet another page with the s.e.c. now said to have sent a subpoena over c.e.o. elon musk's tweets about securing to go private. an s.e.c. investigation would ask what musk meant in his august 17 tweet that sent this saga in motion. ith naughton, what does this subpoena actually say about this investigation? >> it says the s.e.c. is knew taking this to the next level. it's mechanic a -- become a more serious investigation and they're going to look deeper, particularly at the part of musk's tweet that says funding secured because it appears funding was not secured. he said in his log post on monday he's he'd been talking to officials but it had not skired the funding. this is another example of elon putting the cart before the horse. he said two days ago that he had goldman sachs as an advice advisor but it was only today that goldman sachs confirmed that. he seems

haidi: i am sydney. you are watching "daybreak: australia." sydney home prices are sinking.ay amend its policy outlook, and the cash rate could remain on hold. the bank of australia chief economist is with us. we have the same conversation about being stuck between a rock and a hard place. low inflation, low wage growth, the property market is an issue. overlaying that is the trade war. making things difficult for policymakers. i think we will see the same outcome today, and that is doing nothing, leaving the cash rate at the current record low, 1.5 percent, signaling it will stay at that level for a long time. haidi: will we see any changes to the language of inflation and wage growth? our whatmbers we see we expected to see. higher oilanges prices, so what the margin you could see the headline cpi nudged up. i think forecasts will be unchanged. showing any moved to the middle of the target, that is a long way away. look: this chart takes a at expectations for the aussie dollar, the worst performer out of developed market currencies. hedge funds are betting that the aussie

haidi: i'm haidi stroud-watts in sydney.want to get back to the topic of turkey because the question is if it is in the us and credit -- if it is idiosyncratic pace, stop these,oved to stemming the bleeding for now. tensions with the u.s. show no signs of abating. they are escalating. joining us is a managing director. happy monday. here is a chart to start our conversation. this is looking at correlation risk between the euro and the lira. as volatility rises, we have seen greater correlation between asset classes. is this something you are watching given the euro is two thirds of the dollar basket? >> it is something you see, big markets selloff. -- sell off. if you look at turkey, the economy is not that big, it is $900 billion. the european is $17 trillion. it is not huge part of the pie, so certainly you want to watch it because [indiscernible] haidi: the problem is it could get quite bad. there is no circuit breaker insights. policymakers are not doing anything because whatever they do is likely to be more backward for

here in sydney. welcome to "bloomberg daybreak: asia." stocks fall and trade tensions are going higher. chatter is heading back at tariffs and the u.s. is sanctioning russia. currencies are under pressure. the kiwi is declining. the outlook for growth is also weakening. >> i'm kathleen hays in new york where it is just past 7 p.m.. u.s. and japan tackle trade in new talks in washington. any deal could be threatened for support for the cpp. earnings topped estimates and the results

till down 0.1% from the sydney futures. i'm haidi stroud-watts in sydney.y: i'm ramy inocencio in new york. you are watching "daybreak australia." on wall street stocks have halted the longest slide since march. investors are brushing off fears about turkey, at least for now, and the u.s. dollar has hit a 14-month high. treasuries are falling, but how long can this last? -- thanks for joining us. take us from the 30,000 foot level here. in your note, you say the u.s. ptor, when this disru in the past it has been a peacemaker, and it doesn't appear set to change anytime soon. todd: thank you for having me, ramy. the way i look at it right now, the world is starting to weigh in on this, but there has been a paradigm shift where we have gone from being the world peace maker to this world disruptor, and it seems trump should have two more red hats made, one for each, because we put them on, take them off whenever we want. this is creating some uncertainty and concern.turkey is feeling the brunt of it right now . argentina is getting a piece of it because of wha

haidi: hello from sydney where a.m. fast 8:00 we are two hours away from the opening of the first major markets. ramy: it is past 6:00 in new york on sunday. we will look ahead to this week's biggest biggest -- biggest business news to see how it could affect the week. , ifere talking about when beijing would retaliate in more than words. we got that. be careful what you wish for because beijing did poll out the tariffs -- pull out of the tariffs. we did not see that much in the markets, but we will be looking ahead to see how the asia-pacific reacts to the biggest news out of the trading tit-for-tat we have been seeing. backdrop ofst the all of this, central-bank week was, we got last a big week for central banks and it was. it has not come to an end. rnc, the rba, philippines and peru, a bunch of central-bank decisions as policymakers try to hedge against the risks being imposed by the escalating trade war. ramy: we'll see how the levers get hold or push. let's get a -- colder pushed. -- before the new tariffs headlin

here in sydney. markets open in 30 minutes time.e is a 10 year high where markets are sitting at here in sydney. a beautiful friday morning with the opera house just shy of 10 degrees. i am kathleen hays in new york where it is still very warm. you are watching daybreak, australia. tesla slumped erasing all the aboutfrom musk's tweet tesla going private. below thesed well $420 that musk said would be the price offered to stockholders. musk has offered no evidence to back up his tweak nor has anyone indicated they are behind the plans. >> but if something would happen with you on or not we wouldn't comment in any way. on there is a deal going there is a chance we will be informal and part of the conversation. plunging asis relations between turkey and the u.s. began to sour. thates in washington said turkey was refusing to release a detained american pastor. the trump administration has sanctioned two turkish ministers. suzuki and yamaha led -- after revelations about inadequate fuel economy and emissions test. vehicles emissions wer

hello, from sydney. this is "daybreak: australia."e are two hours away from asian's first major markets. ramy innocencio. we will be looking ahead to how wall street will impact your asia-pacific trading weekend. any indicator of what might be able to happen, the s&p 500 ended on a record. 28.74 is what the s&p 500 closed that. up to 6/10 of 1%. this is its seventh weekly rise in the past eight weeks. leaders included materials and information technology, and energy. possibly getting a boost from jay powell's speech at jackson hole. his comments were interpreted as a dovish. on track, it looks like for a september rate hike. on the order of the 60% hike. haidi: looking pretty mixed as we have japan and hong kong opening higher. we are looking at negativity closer to home. trading new zealand is underway. modest upside. the kuby dollar trading at 6695 to we had that move in the u.s. dollar index. wewas the biggest driver as have the pboc potentially coming in to provide more support for the yuan. that also led to more support for the a

haidi: hello from sydney.his is daybreak australia and we are two hours away from the open of asia's first major market. ramy: it is past 6:00 p.m. in new york. i am ramy inocencio. we will be looking at how the action on wall street will play into your asia-pacific trading day. i have to say today was confusion because based on reports from china as well as the united states doing tit-for-tat in terms of words, escalating what is happening in terms of global trade, it has been confusing and that brought investors to wonder where they should put their money. let's show you how stocks ended the day today. you can see confusion. the s&p close to the flatline. 2813. the nasdaq was up .5%. that is thanks to apple which did see a pop of 6% very not yet but gettingrillion, close. $973 trillion is where they stand. traffic -- trey definitely weighed. haidi: we are expecting that to play out with most asian futures in this part of the session pointing lower. let's look at how we are setting up for the asian open. trad

you know that in sydney kathy will come back to a bit later in the program if he can but let's cross over now to peter hartcher he's the political editor of the sydney morning herald he joins us on the phone from australia's capital. so scott morrison australia's new prime minister any surprises there peter. well what this constitutes is that nothing nothing has been settled within the liberal party this began this instability and this challenge to the prominent they are going for the former prime minister is not going to move again as an uprising by the conservative faction of the party to remove turnbull who was considered to be a moderate not a genuine part of the party and had to be expelled but in his place the liberal party has now elected by a reasonably now imagine. a man who is not considered to be part of the conservative core is a man who has been threatened with dire repercussions from the conservative faction and his followers who collected him have also been confronted with dire. threats of a tradition from the conservative group which as we saw today had forty. out of

year-old sydney joins herfather in grow old. 13-year-old sydney joins her father in the cathedral. growallj grow old. 13-year-old sydney joins her father in the cathedral. i think it is important that we understand the sacrifice they made. there is a saying that four hour today they gave their tomorrow. that is important because it is truthful. and stories from those who were there will reinforce that message. we travelled at night and stayed in the woods at daytime. it was supposed to be a surprise. canadians captured 27,000 prisoners and the whole thing of 45,000 prisoners, besides those were killed. the german high command called it a black day for the german army. we called it the beginning of the last 100 days. we'll be bringing you more on the commemorations here on bbc world tv but you can also head along to our website where you'll find more on the battle and the history surrounding world war one — just type in bbc.com/news you can also download the news app. now it's time to get all the latest from the bbc sports centre. hello, i'm tulsen tollett. coming up in your wednesday sp

i'm haidi stroud-watts in sydney.athleen: i'm kathleen hays in new york here it the turkish lira fell another 5%, extending a record low concerning soured relations with the u.s. joining us now on the line from ridgewood, new jersey is capital management chief investment officer charles lieberman. away from a look train wreck like the turkish lira. , love one of the headlines turkey gets roasted as literate drops. as an investor who has to watch money in the u.s. but around the world, what is driving this? do we have to watch closely? charles: it's being driven by the death by turkey. to the total control that he appointed a relative headed of the hang. like king canute who ordered the tide not to roll in, he is saying the interest rates should not go up to defend the lira to weaken the economy and he is reaping what he is selling. kathleen: i have a chart from our bloomberg library. sanctioning threats, rising slightly. it's not just turkey. geopolitics in one form or another are affecting so many markets right now.

our sydney bureau chief. our bloomberg terminal, you can touch up on key analysis and see charts and save them for your future reference. this is bloomberg. ♪ this is "daybreak: this morning, and coming up, "daybreak: asia." yvonne? haidi, we have a guess, the samsung ceo just months into his new job after the short seller had a report with questions about the resume, the dealings with the family businesses, and overall the question of corporate governance within this company. where does it go from here? we will be asking the new ceo, where to go from here, and on the flipside, the fundamentals of this company, record results for earnings this year, so we will see. tariffse tensions with and tumi. and then the weathering of potential further hikes when it comes to tariffs. the next hourr in after, we are going to take a look at what is happening with the asia markets. what is your first read there, with standard chartered bank and eric robertson. of course, here in the united states, we saw the s&p and nasdaq

. >> hello from sydney. is daybreak australia.e are two hours away from the opening of asia's markets. rainy: good morning. ramy innocencio. it was another green board today. let's take a look at the close and how we ended this monday session. the s&p 500 up about .25%. 25%, led, broadly, by materials and an genji -- and energy. this is a look at what is chinaing between u.s. and trade tensions. we are also looking at what is happening between the fed and jackson hole. today, donald trump saying he thought jay powell would ea -- would be a cheap money chair. we are not seeing that now. he has raised rates five times in the past couple of years. president trump continuing to criticize him for raising rates and saying that europe and china are currency manipulators. findings against the of his own treasury department. let's take a look at how things are setting up in asia. trading in new zealand just getting underway. bit of a benefit when it comes to the aussie and the kiwi overnight. flat atooking pretty this point. at this point,

haidi: i am haidi stroud-watts in sydney. the u.s.will impose tariffs on another dickstein billion dollars of billion ofds -- $16 chinese goods, delivering on a previous thread. tom mackenzie is watching this from shanghai. as markets shrug it off, it continues to incrementally escalate. tom: like tennis, the ball now is in china's court. they are likely to hit back and detail their own extreme billion dollars of tariffs -- $16 billion of tariffs. then you look at washington, the ball goes back to their side. reviewing $200 billion of tariffs that could be imposed early september. china said it would respond with its own list of goods. you are looking at middle of september, likely you have $250 billion of chinese goods targeted by the u.s., versus $110 billion of u.s. goods targeted by the chinese. if you look at an aggregate of tariffs in china, around 15% to 16% of u.s. goods if we get to pre-wtont, about standards. no signs of talks yet. we get a sense that the chinese are digging in for a long fight. ramy: looking at the yuan, at

has more from sydney. he was known in boxing circles as the dingo dexter dunn worth was once a one of the oldest professional boxers in the world but retired a decade ago the sixty two year old says he's received that many knocks to the head that he feels compelled to donate his brain to big search if your job is getting hit in the head for a living that trip breakout be a good thing and i'm surprised the pressure box for that sort of basically. it our brain can cost probably at least half a dozen times. yes but you are saying to recover pretty pretty quickly but. who knows long term the fix dexter hopes his pledge will hope research is better understand the impact of head knocks like this the impact of such hits to the head have been linked to diseases like chronic traumatic encephalopathy or c.t.e. a degenerative brain condition internationally the disease has been found in boxes american football players and was recently diagnosed for the first time in a strain rugby union player. but a straight in rese

. >> hello from sydney, i am haidi stroud-watts.his is daybreak australia, two hours away from the opening of asian major markets. ramy: i am ramy inocencio, and we will be looking at how the action on wall street will play into your asia-pacific trading day. haidi, there was some buoyancy and optimism in the markets today, in large part because of what happened between the u.s. and mexico, that breakthrough deal. with that said, the peso fell because they are lacking some clarity, and also some questions on whether it could get through congress. meantime, canada is said to be encouraged. what does that mean for china? donald trump saying it is not the right time yet to talk with beijing. a a lot of stuff going on, but at least one breakthrough. haidi: it is really interesting. you have to wonder what kind of a rally we could potentially see in u.s. stocks, if there was a sign of a breakthrough when it came to trade tensions with china, given the exuberant rally we saw in response to this, look s like nafta but isn't. [laughter] as

minister in a decade panel still use had enough of the revolving door at the top we'll find out from sydney also coming up. pope francis bears the flight to ireland the first papal visit in four decades there but revelations of child sex abuse by priests and its cover up are rocking the church will francis respond to the growing pressures to cooperate with investigators. plus bonus league football is back tonight the new season kicks off with byron taking on hoffenheim but german football has a lot to prove after a disastrous world cup look at the challenges ahead. i'm brian thomas a very warm welcome australia has a new prime minister after his former leader malcolm turnbull was ousted by a majority in his own party the former finance minister stopped morrison has just been sworn in as the country's new prime minister morrison want to party ballot the feeding his closest rival by forty five votes to forty you will have to get to grips with an increasingly divided party that's desperate to stay in power and is grappling with poor results of the polls. a short while ago australia's new prime

on watch for us in sydney.low scott morrison's away theline and take news on the leadership change on tliv . let's look at what you should be watching today. applications close for the next head of the ecb's single supervisory mechanism. anna: the annual jackson hole gathering of central bankers continues in wyoming. nejra: saturday marks nafta talks between the u.s. and mexico. sticking with that theme, the closely watched trade talks between the u.s. and china have wrapped up with no major progress. furthers the stage for escalation of the trade war between the largest economies. china this morning removed limits on foreign holdings in domestic banks and asset management companies, one more step toward opening its $40 trillion financial sector. joining us now, silvia: --silvia dall'angelo, senior at -- senior hermes. are you confident in china's ability to withstand what develops from here? silvia: first of all, it is not a big surprise that this round of talks failed. expectations were quite low on both

out his era sydney. looking for more lighter. andy thank you very much indeed now beaches in the caribbean and the u.s. state of florida being swamped with masses of seaweed and toxic algae blooms the so-called red tide is the worst seen in every decade and it's killing sea life affecting tourism and hurting people's health as it was and the gallica reports. for weeks foul smelling saw gas in seaweed has been washed ashore across the caribbean in florida's atlantic coast these blooms are naturally occurring but weren't seen in this region before two thousand and eleven since then the problems grow worse while scientists are unsure what's behind it many belief human activity is a factor to largest rivers feeding into the control of the land of the amazon and the congo and of course there's been huge about deforestation in those two watershed and of course again you cut down the forests that's released a lot more the this nutrient pollution in florida toxic algae is adding to the state's environmental woes this year's red tide is t

at the system brain bank of this one in sydney that sparked a billion dollar class action lawsuit and already similar legal cases are being launched here straight in sporting bodies say their inaction tougher guidelines for treating concussions including employing head impact spotters during matches and funding research so far forty is trained in sportsmen have pledged their brain to the sports brain bank it's calling for more donations in the hope its research can help better protect present and future athletes yarbrough him out a zero sydney serina williams has admitted she's at the beginning of a very long comeback after another early tournament except this time williams was knocked out by patrick of it's of in the second round of the cincinnati open williams latest loss comes off the back of the heaviest defeats of her career when she was beaten a six one six love barge on a concert at the start of the month this a much closer concert with getting his means three sets sick of it of a former world number one but opted out of last week's rogers cup citing personal reasons. it was gr

let's get the very latest from sydney and our correspondent, phil mercer.been a dramatic week, phil. just tell us more about scott morrison, the new prime minister. well, once upon a time, scott morrison was an immigration minister, more recently he has held the very important treasurer portfolio in the centre—right government of the outgoing prime minister malcolm turnbull. scott morrison has been a keen and loyal supporter of the outgoing pm, so what we expect is this victory of scott morrison will be seen as a victory for the more moderate part of the centre—right coalition, given that his challenger, peter dutton, was the candidate that the conservatives wanted to challenge for the leadership. sorry to interrupt you. we want to come back to you in a moment. first, malcolm turnbull is addressing the press. you know the foundation of everything you do in government is a strong economy and we have delivered, as we promised, jobs and growth — you may have heard that before. we've got record jobs growth in australia last year, we have strong economic growth,

has more from sydney. he was known in boxing circles as the dingo dexter don worth was once a one of the oldest professional boxers in the world but retired a decade ago the sixty two year old says he's received that many knocks to the head that he feels compelled to donate his brain to big search if your job is getting hit in the head for a living that break out to be a good thing and a professional boxer that sort of basically. it our brain can cost probably at least half a dozen times. yes but you are saying to recover pretty pretty quickly but. who knows a long term effect dexter hopes his pledge will hope research is better understand the impact of head knocks like this the impact of such hits to the head have been linked to diseases like chronic traumatic encephalopathy or c.t.e. a degenerative brain condition internationally the disease has been found in boxes american football players and was recently diagnosed for the first time in a strain rugby union player. but a strain researches say it needs

out a zero sydney. in the football nothing of year ago i have not sold their medicare out of the copper so the american are a big crowd watching the second round second leg match in month after a scoreless first leg in paraguay heart breaking away for the visitors to be knocked out of this competition the parents being charged down by my theory sunni know and ricocheting back into the car one nil the final four. two time caucus with the medal count so that many kind of champions barca juniors are in spain to take on a boss alone or the one outside his club will be up against the greatest player of this argentina generation in bath of lino messy messy international future is in doubt following a disappointing wild cup campaign his former national team mate. i think we should all leave him to make up his own mind and make the decision that will make him happy it was the best decision for both him and his family surely if he feels happy and decides to rejoin the national team it's because he has the suppor

sydney futures looking exactly flat.se as we go into the open of trading here in sydney. the reserve bank of australia decision expected to see no change. a record rate of 1.5% lower. the lead, we will talk currencies and bonds. interestingly, he sees the u.s. dollar as being a bear outlook in the long-term. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. haidi: 10:00 a.m. in sydney, live from a bloomberg's australian headquarters. welcome to "daybreak: asia," your top stories today. modest gains after wall street rises for a third day. berkshire hathaway earnings lifting. the

. >>> here in sydney. you're watching day break australia. he dollar slumped on the nooing political turmoil and change. kevin i want to jump first to kick this off. taking a look at volumes here, interesting to see that we're down here. days of k this is dog summer. yes. yes. do a check now. buying a ocusing on sabik.gic stake in amco is tell bloomberg ar asking them to suspend work for being.me >> heart phone maker results of sting last m ce li showing a net income just over $2 billion for june. to a loss of $1.7 billion a year earlier. showme said it made great strides this year. samsung supplier aac technologies slumped the kong in 18 months in hong perfect closing the day in the green. nd now, it's fall came on news of profit far lower than anticipated and component make sures struggle in a plateauing market for high end devices. came in at $95 million, lagging lowest 14.5%.te, revenue fell meeting expectations had it comes to that profit number, 1.6ss billion aussie dollars 1.6ss estimate of billion and that is slightly and r than 10 ex

heidi in sydney. you're watching "daybreak always." ensions, despite spreads at relatively high levels u.s. high to shrug off the noise. mary, great to have you on. a ant to start off by taking look at this chart, looking at espite these tight ranges in terms of u.s. high yield trading to investment-grade you're also seeing a sense of resilience. my question is, i suppose, is it better due to the economic picture, the default rate or is it a factor of what supply, second quarter issuance, lowest since 2010. junk bond, lowest since 2008 and e've been below the five-year average since february. is this an effect of supply or demand actually? has been a head win for high yield this year and that was largely the first uarter problem, where we saw the 10-year, you know, move pretty quickly towards 3%, and fast rought a lot of money, in particular, out of the market. as you mentioned, supply has a positive technical for the market. but despite all of that, the fundamentals are still healthy and high yield. second quarter earnings did come in

being deposed by educated panicky backbenchers and so we watch and wait mark roth joining us from sydney thank you so much for that do appreciate it. so other news in a saudi led coalition air strike in yemen has had a the provinces killed at least twenty six civilians including women and children who at the media says they were killed while escaping an internally displaced camp which the u.a.e. claims was where rebels were actually launching the self from culture dodginess more. civilians once again have been the targets of saudi led coalition jets in yemen. iranian backed rebels say at least thirty one people including women and children were killed in an attack on their convoy in the western province of what data dead children and women disgusting crime. the victims were trying to escape a camp in al couey which the coalition says was being used to launch missiles. they hit us while we were on the road this little boy was spared unlike the forty four children killed two weeks ago in another strike that aerial bombing on august ninth targeted a bus full of kids returning from a summer

here in sydney. welcome to "bloomberg daybreak: asia." are set toc stocks fall and trade tensions are going higher. chatter is heading back at tariffs and the u.s. is sanctioning russia. currencies are under pressure. the kiwi is declining. the outlook for growth is also weakening. >> i'm kathleen hays in new york where it is just past 7 p.m.. u.s. and japan tackle trade in new talks in washington. any deal could be threatened for support for the cpp. earnings topped estimates and the results validated disney's decision to buy the business. tit-for-tat and comes home to bite where it matters so much to investors in the markets. china was hit hard. its currency, stock market, and the u.s. by comparison has barely felt it. seemsin u.s. trading, it the uncertainty over what is next will get worse and worse. they kept stocks in a narrow range. haidi: what you do see with the volatility and selloff is oil down i almost 4% in the session. a little bit of a rebound. backing directly on the back of the details of the 25% on tariffs of $60 million

. >>> ♪ this is a live picture from sydney australia the iconic sydney opera house.t is about 10:00 on monday night there in australia. i always associate this song with australia. sydney australia is this live picture we are bringing you of the city at 10:00 at night. they are wrapping up their winter. they are opposite seasons in the southern hemisphere. >> isn't that the group of men at work? >> yes. okay. land down under. >> i always like that line about the vegemite sandwich expect is a beautiful shot. >> a beautiful city. >>> good morning. it is monday, august 13. >> good morning. we are talking about your monday weather. the great steve paulson is back.

here in sydney. haidi: it is a: 30 a.m.ney, through hours away from another potential leadership vote. supporters have been circulating signatures, we could end up today with a new prime minister australia. so there is a lot of uncertainty, bus terminal, equities are looking pretty relaxed at the moment. ramy: i am ramy innoncencio in in new york, 6:30:00 p.m., and we are watching daybreak australia. let us get the first word news and analysts in over 120 countries. this is bloomberg. deck and heart. >> secretary of state mike sureo is wanting to make kim jong-un sticks to his promise to shut down the nuclear program. enlisted the help of executives to lead negotiations with pyongyang. he wants sanctions to remain in force, but says that there are signs that china has resumed cross-border links. bloomberg has told the bank is elon musk,ectly with to evaluate the idea of going private. morgan stanley suspended its coverage of the stock early this week without any explanation. the bank is among tech/top 20 shareholders -- tes

sydney futures weaker going into the open. our top stories. federal jury convicting president trump's former campaign chairman paul manafort at his fraud trial, and his longtime lawyer michael cohen also pleaded guilty to federal charges stemming from hush payments to women who claimed affairs with the president. >> mr. cohen disregarded that training, disregarded that tradition, and decided that he was above the law, and for that he's going to pay a very, very serious price. haidi:1 let's get straight to our chief washington correspondent, kevin cirilli. how serious is this? kevin: very serious. michael cohen pleading guilty to charges that he was instructed by, according to court documents, "a candidate," to make payments to women who alleged extramarital affairs. the timing of this came shortly before election day, according to court documents. michael cohen, the president's longtime personal attorney and fixer at the trump organization, saying he was instructed to do so in order to impact the election. now, the court documents do not say s

sydney futures, the aussie dollar at 72, 73. a flurry of chinese data coming out, which will be the key calendar event for asia. looking at china, and what's going on in turkey kind of makes what's going on with the u.n. looks under control. 6.88 at 12 is where onshore is trading at the moment. yesterday we had that six, about the strong nest a month. continuing to watch that and employment numbers out today from china. let's get thank you first word news with jessica summers. jess? >> thanks, haidi. the indian rupee hit a new low as the crisis in turkey ripples through currencies. it fell the most since swept role as theuing its worst performer in asia. the chances of the reserve bank keeping rates on a hold after back-to-back hikes. bad loans of chinese banks rising more than $26 billion to almost $285 billion. that's the biggest quarrel jump ever recorded in data going back a decade. loans represent 1.8% of total advances. china's crackdown on shadow banking has made it harder for weaker borrowers to refinance. the forecast f

al-jazeera sydney. a leader of a party advocating independence for hong kong has accused china of suppressing freedom of speech both the chinese and hong kong governments wanted to stop and channel from giving a speech at the foreign correspondents club officials are also deliberating an unprecedented proposal to ban chen's party due to national security problems bright has more. protests by pro beijing supporters outside hong kong's foreign correspondents part of it is how do you have their anger aimed at the man speaking inside. andy chan leads a small political party advocating independence from china leading to accusations that he's threatening national security due to the nature of how the chinese propaganda machine works the national party was instantly demonized as some sort of

our correspondent, phil mercer, sent this report from gunnedah, about 260 miles north of sydney.t's been two years since decent rains fell here, but this farming family is determined to beat the drought. keeping its beef herd alive is exhausting and expensive. crops have failed and the monthly food bill is £25,000. a daily grind

bloomberg's us join sydney.xt, staying bullish, relax, why some investors remain optimistic on tencent despite all the problems piling up. this is bloomberg. ♪ ramy: now for a look at some of the stories trending across the bloomberg universe. profit drops, its first in at least a decade, over at erg.com, constellation brands betting 10 million dollars on cannabis, setting the stage for a global weed empire. the hopeful story of a refugee who could become the first somalia american ever elected to the u.s. congress. check out those stories trending online or on the terminal. yvonne. as you just saw, tencent earnings attracting attention and interest from terminal subscribers. take a look at my terminal here for a moment. we are seeing when it comes to protecting themselves, investors are looking ahead to the earning reaction when hong kong markets open. option traders are paying more to hedge against the tencent drop. the cost of bearish options now the highest since june 2016 compared to the bullish contrast. g

behind canon or the confessional seal to escape reporting crimes like this yarber mohammed al jazeera sydney to the court as a campaigner and lawyer representing the victims of institutionalized child abuse she joins us via skype from melbourne we appreciate it very much so as we reported just a moment ago one of the reasons that wilson's resignation even happened was because of public pressures from leaders why do those leaders not used to employ it's that they have to actually affect the laws. ok so. in many ways the same to the maximum sentence under the laws of new south wales would have been two years imprisonment that's and we've got to understand and this is not right we've got to understand that when dave laws were made they were not made with the with concealing trial six curran's in mind they

that was eleanorjoining us from sydney.ng a vast market for all manner of goods and services. over recent years, online payments have the way chinese resident hire bikes, shop and go about their day—to—day activities. now a new front has been opened up in the country which invented tea. stephen o'donnell sent us this report from beijing. —— mcdonald. this store one year ago had zero outlets, now they have got, wait for it, over 800 and the plan is to have 2000 by the end of 2018. welcome to modern high—speed capitalism, chinese style. this is one of the chill, alleyway cafes in the old heart of beijing. here it is perfectly normal to hang out for as long as you like chatting, reading 01’ long as you like chatting, reading or doing some work. that's not the business model here, the idea here is you get them in, you give them their take wagering quickly and outlaid to make out they go. —— their takeaway drink quickly. —— and out they go. translation: our business model is suitable for the chinese economy. against mobile techn

phil mercer is in sydney and joins us how. phil mercer is in sydney and joins us now.p is akin to a sort of client— lawyer relationship? that's right. the church says it has no intention of changing the rules of secrecy surrounding the confessional. the catholic bishops conference here in australia says it is one of the main tenets of their faith and that to change it would go against everything they believe in. you have to say there could well be a collision looming between the catholic authorities. this is the biggest religious faith here in australia, and the state and federal authorities, given that two australian states have made it a crime for priests who failed to report child abuse that they hear on the confessional is. on the one hand you have the authorities who say that priests must give up this information, and on the other hand you have the catholic church saying, no, these secrecy rules are the fundamentals of our fate. what is the church's argument? that this would undermine the confidence and faith people have in terms of their confession? 0r faith peop

at the system brain bank of this one here in sydney that sparked a billion dollar cost action lawsuit and already similar legal cases are being launched here a strain in sporting bodies say their inaction tougher guidelines for treating concussions including employing head impact spotters during matches and funding research. so far forty is trade in sports men have pledged their brain to the sports brain bank it's calling for more donations in the hope its research can help better protect present and future athletes yarber mel him out a zero sidney around madrid camps in surgery ramos says the club can still win trophies even without fight some world player of the year christiane eldar now the results are it's how unseemly vent sister in the close season the champions league winners are getting ready to take on the europa league title holes outlets got a majority in the super cup wednesday's game in a star in your. first competitive game in charge of around. the world of course to lose the player that was the important it was always going to be a negative thing but this doesn't mean t

phil mercer is in sydney. this is beginning to sound costly? day for the commonwealth bank of australia and this particular legal requirement it didn't fulfil meant 15,000 customers we re didn't fulfil meant 15,000 customers were affected, they were supposed to have been put onto a low—cost comment, as the law determines. in their defence, staff at the bank said there were problems with the computer system. the bank is well and truly under the spotlight as a result. the shares in commonwealth bank have fallen. in previous hearings, the bank has been found to have misappropriated funds from customers and also charging clients who were dead fees, and that provoked one barbed comment from one observer saying the bank should open branches at cemeteries. that gives you an indication of the sort of pressure australia's financial pressure australia's financial pressure is under as a result of this royal commission. phil, thank you very much indeed. phil, thank you very much indeed. phil mercer in sydney there. now let's brief you on some other busines

all right, and that was phil mercerjoining us from sydney.w and we start with the markets now and we start with the us, record—breaking day for the s&p 500, but it closed lower at the end at 2861. thank you so much for investing your time with us. i'm rico hizon. sport today is coming up next. this is bbc news. the top stories this hour: he did nothing wrong. there are no charges against him. the white house remains defiant as donald trump rides out one of the most turbulent days of his presidency. the world's two biggest economies talk, but can officials find a solution to the growing trade war? a suspected illegal gun factory has been uncovered on an industrial estate in east sussex. if more doctors are not trained as radiologists the experts who treat diseases within the body then the whole service could collapse according to the royal college of radiologists which says a sort each of staff has led to growing delays with patients across the uk. —— shortage of staff. it says there could be delayed scan results for some patients. our health

haidi: and i am haidi stroud-watts in sydney. they are aussie may fall to a two-year low as political turmoil threatens paralysis. this is "bloomberg markets: asia." ♪ rishaad: out of the gate, singapore on a tear. the nikkei 225 showing modest gains. , but thats resurgence makes resources cheaper for the japanese. there you have it. the straight times down .4%. a lot going on in australia. about theare talking u.s. and china keeping communication open. talking will continue. talkslot of constructive over the past few days. it is headed to some resolution in an hour or so. that petition does have the requisite number of signatures and we may be looking at a change in the prime minister ship in about an hour. we are watching the impact, the aussie dollar taking it on the chin. investors looking ahead to jerome powell's speech at jackson hole. china says trade talks were constructive and they will keep communication open, despite meetings with no major progress we know of. hitlatest round of tariffs thursday, taking the total value

just eleven years haven't australians had enough of this revolving political door we'll go live to sydney also coming up pope francis prepares to fly to ireland it's the first papal visit in four decades the crowds will be out to greet him but revelations of child sexual abuse by priests have rocked the church will francis respond to the growing pressure to cooperate with investigators. in the bundesliga is back the new season kicks off tonight german soccer has a lot to prove after a disastrous world cup look at the challenges ahead. and gorky park the title of a thriller but also moscow's location for love will join the fun as a solid race ninety years as one of the russian capitals most famous landmarks. i brought in thomas thanks so much for being with us australia's beleaguered prime minister malcolm turnbull has been ousted after a majority in his own party supported calls for new leadership treasurer a start no more since he won the party ballot that followed defeating former home affairs minister peter dutton by forty five votes to forty it marks a bittersweet day for malcolm turn

prime minister in just eleven years have australians had enough of this revolving door we'll go to sydney for the latest also coming up. pope francis prepares to fly to ireland the first papal visit in four decades but revelations of child sex abuse by priests and its cover have rocked the church will francis respond to the growing pressure to cooperate with investigators. plus bonus league football is back tonight the new season kicks off with bahrain taking off and i'm a german football has a lot to prove after a disastrous world cup look at the challenges ahead. i'm brian thomas thanks so much for being with us australia's beleaguered prime minister malcolm turnbull has been ousted after a majority in his own party supported calls for a new leadership treasurer scott morrison won the party's ballot that followed defeating former home affairs minister peter dutton by forty five votes to forty this marks a bittersweet day for turnbull although he's been forced out he'll be replaced by one of his closest backers that might surprise you want to die like this. well after the leadership chan

let's go to our correspondent in sydney. blimey, australia getting ready for the seventh prime minister in11 ready for the seventh prime minister in 11 years. yes, they will have to start oiling the revolving door in parliament. in relation to the deputy's position this was one in an overwhelming sense, it was an absolute majority by josh frydenberg. what was said at head of the vote? we followed the due president of the liberal party and that's how the ballot in the process was conducted. —— due process. malcolm turnbull called a spill for the position, and as that was successfully carried the spill motion occurred, which is the due process. thank you very much for yourtime. process. thank you very much for your time. well, phil, we havejust dipped into the press conference, extraordinary, isn't it, seven prime ministers in ii extraordinary, isn't it, seven prime ministers in 11 years, what does it do to the country politically in terms of direction? well, i think thatis terms of direction? well, i think that is the questio

or sydney to new york. too sure if this was infeasible. i spoke with the chief executive who said, yes, boeing and airbus have convinced me we have the planes to do this, and that is go further than any direct services has gone before, carrying 300 passengers with their bags, with fuel to spare for emergencies. that is really the tough bit. how do you configure the aircraft to fly that far in comfort? this is what they are scratching their heads about now. presumably, it is because the rise in efficiency that we have been seeing with airplanes. also, who would theoretically be flying this? what is the economy passengers? would it be all business? >> what we have seen with previous ultra long-range qantas does, they have taken a few seats out of the aircraft in economy. premiumared more toward passengers, that's a business and premium economy that your average long-range flight that we have seen in recent years. it will be a premium service, fewer passengers. but you still have to survive it. thanill be able

. >> hello from sydney. this is daybreak australia. we're two hours away from the opening of asia's first major market. >> just past 6 p.m. in new york. i'happy friday. the action on wall street will stocksto your asia friday. the s&p 500 down by nearly half a percent after hitting two new records in two consecutive days. today was a pretty broad fall, rather. materials falling, the most. financials, also, as well as industrials. the dow falling by a half a percent, the nasdaq seeing a hit down by a 1/3. this was all because of donald saying regarding china he is ready to move ahead with tariffs on $200 billion of goods by next week. those a bit of a win for strategist who were cautious and extrapolating the optimism over with mexicoa daeal and the potentially canadian deal with any progress for china. take a look at the set up in asia. a pretty bearish session. is the end of the week, we have secondmi as well as the quarter for india. we are seeing negativity for kiwi stocks, a market that is trading close to a record high. 67, aftero