(sydney pollack) when i grew up love stories were dependent upon obstacles. love stories were dependent upon non-overcomeable obstacles. inside of us we both know you belong with victor. if that plane leaves the ground and you're not with him you'll regret it. maybe not today, maybe not tomorrow, but soon and for the rest of your life. what about us? we'll always have paris. we ... we'd lost it until you came to casablanca. we got it back last night. i don't remember a great love story in which the two people got together. the love stories i always remember were always tragic love stories. here's looking at you, kid. (sydney pollack) most of the films i've done have been unhappy love stories of one form or another. (sydney pollack) there is satisfying sadness just as pleasurable to feel as the sort of humorous, giddy laughter of a comedy or a happy ending film. see ya, hubble. i can't make a comparison between old films and this film but in feeling, it was a film that was strongly influenced by those older love stories. i come out of the narrative tradition t

i am pollyanna in sydney alongside shery ahn.ake a look at the global tech stocks. -- i am paul allen in sydney. emily: a proposal set for a shareholder vote at the facebook annual meeting. like to eliminate special class of shares and give early investors 10 times the vote of ordinary shareholders, but mike zuckerberg -- mark zuckerberg controls shares. and considering an entire investment in georgia if a law restricting abortion takes show,, where its films and like "stranger things." the new law is set to be enacted in 2020, and if it acted, several filmmakers say they refused to work in georgia if it passes. these remarks are significant, given that other companies have remained silent. and apple has unveiled its first ipod touch in four years, costing $199, and it will support new services including apple arcade for games. the ipod was an instant hit when it came out in 2001, but in recent years, it has been overshadowed by the iphone. these are the global tech stories we are watching. shery? shery: emily, thank you, so the

i am paul allen in sydney. >> we are counting down to asia's market opens. paul: here are the top stories we are covering in the next hour. china threatens a strong response to president trump's huawei ban. america, tom inside o. nike and adidas called the trade war catastrophic. asx 100 sees its biggest decline in a week. effect. ripple how the trump administration chokehold is reverberating throughout the supply chain. that of course had an effect on u.s. stocks. semi conductors leading declines in today's session. the philadelphia semiconductor index plunging 4% for a third session. it did not help that president trump came out in an interview and said he was very happy with the trade war with china and that china would not become a superpower under his watch. we saw the nasdaq falling the most in a week. s&p futures at the moment are higher, .2%. >> we are bracing for a down day. it's looking more like a mixed session with nikkei futures looking higher. global supply chain woes over huawei, tech shares and chinese retaliation. the rally may be losing ste

and we've been hearing from voters in sydney who've been expressing their hopes that this election will give australia a different leadership. i'm praying for a change of government i'm crossing my fingers for change. i think for and i do expect i think the general mood is pretty similar. you know just hoping that we can have a salute have somebody come to. a government that is not going to be. people. shouldn't be looked after. more now from our correspondent andrew thomas sees him ban it burn in the state of victoria and that is one of the swing constituencies that could decide this election. there are 151 m.p.'s elected to australia's parliament so it takes a majority of 76 for one party to form government now the labor opposition party already has 72 seats so if they keep hold of those and win a further 4 nationwide they will take government it doesn't sound like a big ask but not that many sates are in play not many a marginal not many could swing either way this is one of them to the west of melbourne here in victoria this state there are perhaps 2 or 3 seats like this one there's

sydney time.omberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. anchor: welcome to "daybreak: asia." i am paul allen in sydney. shery: i am shery ahn. .ophie: and i sophie kamaruddin we are counting down to the major market opens.

sydney only on bloomberg.ch us live and see our has interviews on our .active tv function tv> you can dive into any of the securities and become part of the conversation by sending us instant messages. this is for bloomberg subscribers only. check us out. this is bloomberg. ♪ shery: i am shery ahn in new york. paul: i'm paul allen in sydney. you are watching daybreak australia. that get a quick check of the latest business flash headlines. uber suffered a second disappointing day with shares closing more than 17% below last week's ipo price. staffo sent in email to acknowledging another tough day in the markets and morning of difficult a few months ahead. he also says that facebook and amazon faced a rocky road, but shares have recovered. shery: were knowledge -- renault fell as emissions failed to use on cars. the systems designed to filter particulates in the capture did not kick in at several temperatures. renault recalled diesels amid criticism of a possible emissions device similar to the one found at

let's see how the futures progress as the sun rises over sydney herbert. i am paul allen in sydney.ry: i am shery ahn. oil prices are likely to be a focal point in the week ahead on wall street. saudi arabia and other key opec producers signaled their intention to keep oil supply constraint for the rest of the year. russianot quite sure how views all of this but right now it seems oil is responding well. su: we have had a lot of opec plus nations meet in saudi arabia. saudi arabia's minister coming out supporting keeping the course or staying the course, russia indicating they need more time. check out how oil performed last week. new york westpac intermediate, a wild ride but it managed to post gains, very interesting to see if this would affect uncertainty or the support for the rollover of current policy. let's listen to what the nigerian minister said about what it takes to keep it in place. unfortunately we have technical difficulty but i believe what he was saying was what it takes to support the rollover will be a group decisions they want to keep prices where they are. very

in sydney for us, why has climate change become such a major issue?ust gone change become such a major issue? this summerjust gone was the hottest ever documented here in australia in 2018, it was the third warmest year on record as well for stops a re warmest year on record as well for stops are certainly australians are seeing some stops are certainly australians are seeing some very warm stops are certainly australians are seeing some very warm conditions and that really has focused the minds in many ways of not only voters that also the political parties too. authoritative surveys in this country have pointed to climate change being the number one concern for many, many voters. the lower institute an independent think tank in sydney says recently that two—thirds of australian voters thought climate change was the number one concern for the country ahead of national terrorism and north korea's nuclear programme. suddenly, climate change is very much a concern here but when you look at the campaign over the last five weeks, it has been clear that th

is awake and sydney is awake aev yone is here. >> it is an event that builds itself of three weeks of game changing ideas and seminars, aming music and light sculptures that transform the city and on opening night there was plenty of lit as art to be viewed. sydney's harbor bridge lit one fluorescent pinks, purplings, purples greens and blun terms of the bridge a ballerina came to life ilin white ts and on the outside of a customhouse a diving could be seenring life under the sea. >> it is a good thing. we have been through a lot in the last week. with different themes and different topics being brought up left and righut bhis one feels right this year. it is colorful, it is vibrant and it is fun >> organizers say as many as 2 million people will come to sydney to see the lights. >> >> sreenivasan: finally, tonight p.b.s. will broadcast and livestream the national memoriar day cotonight from the west lawn of the u.s. capitol at 8:00 p.m. eastern time. a this is the 30iversary of the program which honors all military service members, their families and those who lost their lives in ser

in sydney, futures pointing higher, .ooking reasonably healthy i am paul allen in sydney.ry ahn in new york. let's get to first word news with su keenan. su: we start with president trump who is warning china to be wise and act now on a trade deal, saying it will be far potential second term in office in 2020. feels it hasijing been beaten in the round of trade talks and the government may deal -- feel it is worth waiting for the next u.s. election. he said we are right where we want to be with china and repeated his claims that they broke the deal. at present the two countries have reached consensus in many aspects but frankly speaking differences still exist. i think all of the matters are crucial ones regarding our principal so every country has its principal and we will make no concessions on matters of principle. onboth sides will suffer this, chinese will suffer gdp losses and so forth with respect to diminishing export market. su: the government and iran has rebuffed president trump's suggestion that ministers call him to diffuse tensions. several lawmakers said the

garfield reynolds joins us here in sydney.ve on tuesday, as we know, but the statement of monetary policy really gave an opportunity to set out and stall . >> it will certainly give the opportunity to outline in greater detail some of the factors that were behind its thinking both in not cutting interest rates which a lot of people were expecting, and the market was set up for at the very least a strong dovish tilt. the key things here are employment and inflation. the question is -- is there an indicator that employment has to improve further here to stop them from cutting rates, which is how it has been read in some corners, and then with inflation, they seem to move the goalposts a little bit on which measures of inflation they are using to measure underlying inflation and did so in a way that made it easier for them to say inflation is not so bad, so some confirmation that those goalposts have been moved i think would be welcomed by the market because we give them a chance to work out where are we going from here, what is

this is the sydney morning herald newspaper. focusing on the fearless reformer and the australian also has it on the front pages today. hawke was extorted nearly popular. bill shorten has come out saying he was labor's proudest son. outpouring of an respect for him. some of the biggest figures in progressive politics around the world, including tony blair and bill clinton. -- hes achievements replaced the prime minister after challenging him in 1991. they are so long i have had to write them down. they are credited with retooling the us showing economy and providing that bedrock that has enabled such an extraordinary long run of growth. they abolished direct controls on interest rates, opened the banks to foreign competition, removed the currency exchange rate peg and removed and lowered tariffs and reshaped industrial relations. hugely popular and he really did have that common touch. the 1983ralia won bossca's cup, he said, any who sacks anyone for not turning up today is a bum. paul: classic hawke there. he was also famous fo

paul: i'm paul allen in sydney.ntral banks to lower interest rates remains firmly open next week. having policy decisions in australia, malaysia, new zealand, thailand, and the philippines, as signs growth of new easing in the region. after fed chair jerome powell pushed back against pressure of 4 rate cuts. let's bring in a partner and asset manager at east capital. it focuses on emerging and frontier markets. she joins us from hong kong. i mentioned 5 asian central banks making policy decisions next week. probably 4 our lives. how closely are you watching those? >> we are watching this, but we don't spend a lot of time. forhink the trajectory global markets, in terms of monetary policy, is more important than what's happening in each and every company. markets we are focusing on like china, we have seen there is no specific surprise to expect. it is clear how things will be developing. we spend more time looking at earnings, reforms, what is going on, in terms of geopolitics and the central banks. paul: in terms o

sydney am paul allen in and you are watching daybreak australia.a quick check of the latest business flash headlines. missing fourth-quarter profit next after setting aside more money than anticipated. debt income of $140 million in march compared to $147 million a year earlier and less than half of the average of estimates compiled by bloomberg. acceleratingn since the new ceo. shery: china starbucks aims to raise more than half $1 billion in an ipo in new york. force to sell 30 million $16 a piece which would be the six largest share sale on u.s. exchanges so far this year. luckin's spending heavily to the starbucks at the top copy company in china. it has almost 2500 outlets across the mainland. paul: a chinese livestream are has put his ipo plans on hold following president trump's threats to raise tariffs. the company planned to launch on monday but sources say it may postpone by at least a week. ouyu is backed by tencent and aimed to raise $500 billion and start trading by may 16. shery: plenty more ahead. wells fargo asset management strateg

paul: welcome to "bloomberg daybreak: australia," i am paul allen in sydney. emily: -- ♪ ed: >>>> -- here the top stories. the treasury keeps rolling with yields at a 20 month low. the shares is the risk could justify a rate cut. beat sales estimates but suffers a loss, the largest of any public company. part of australia -- one of australia's biggest energy companies says it once to protect itself from the trade war. we bring you an exclusive interview. shery: let's get you started with a quick check of the markets here in the u.s. stocks rebounded after falling to the 12 week low. we saw the s&p 500 gain 2/10 of a percent. we had a series of data coming out that shows that the economy was on solid footing. 2/10 of ained percent. we saw technology stocks leading gains with the nasdaq of 3/10 of a percent. below that was still level. we have the energy sector weighing on the index. wti is falling 4% in this session. we saw a smaller than expected drop in u.s. stocks. we are continuing to see some tensions over trade, so not surprising that we continue to see t

l >> sydney: laura, thank you for having me on. it was definitely a mix and a lovely family units units with small children in effect one was breastfeeding her toddler there. an infant, really and a lot of men with children. then you have single adults, men and women. you even had an elderly womanf and we had to separate her and have her sit down on an ice chest because that's all there was, very, very weak, very dehydrated and extremely hot in the rio grande valley.he the agents are providing undocumented immigrants with water for some time traveling for days on end and suffering from dehydration definitely. >> laura: sydney i was shocked and the processing center in del rio pat -- illegal pass center. how many people at one time the border patrol agents train in enforcement and processing but not in these numbers? they are donating their own baby clothes when they are kids grow out of their clothes, border patrol agents are actually bringing in close for these and degenerate illegals who made it to the border. that in and of itse

i am paul allen in sydney. shery: i'm shery ahn new york.hie: i'm sophie kamaruddin in hong kong. we are counting down asia's major markets open. ♪ paul: here are the top stories we are covering. wall street recovers as investors welcomed an apparent truce in the trade war. chip stocks bounce back from a 4% plunge but the pressure is still on. huawei says it has a range of answers to president trump's been. china says it will win the tariff battle. theresa may rolls the brexit dies one last time and gambles on a possible referendum. shery: we have a big interview coming up. we will be joint exclusively by st. louis fed president in one hour. let's get a quick check of the markets close on tuesday session in the u.s. the s&p 500 gained. most sectors in the green. semiconductors rebounded for the first time in four days after that 4% selloff. we saw some relief coming from the u.s. of these temporary u.s. customers. they rely on business with huawei. we have some stocks in the red. ugly firstn some quarter department store earnings. kohl's and

i am paul allen in sydney. you are under one hour away from the market open. >> good evening from bloomberg's global headquarters in new york. i am kathleen hays. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this friday, president trump turns up the trade war heat. he says while he is dangerous and may have to be included in any talks with china. to fall ass are set investors seek safety. the yen strengthens. yields dropped to their lowest since 2017. india shifts further to the right as narendra modi celebrates a dramatic victory. he must fix the slowing economy and the looming jobs crisis. kathleen: after a quick reminder of how u.s. stocks ended the session, you can call it a couple where me. the trade war continues to escalate, affecting tech investors. preliminary members. small-cap stocks getting clobbered. you can see the damage that was done at the top of the board. dow jones industrials moving 1.1%. s&p a little bit worse. 1.2%. 20.22, the level there.

this is bloomberg. ♪ paul: i'm paul allen in sydney.he -- daybreak australia. u.s. stocks rebounded tuesday after president trump were to reinvest investors that a trade deal with china is still in the cards. >> we are in a very strong position. they want to make a deal. it could act -- absolutely happen. in the meantime, a lot of money is being made by the united states. a lot of strength is being shown. this has never happened to china before. our economy is fantastic. there's is not so good. shery: joining us now is the bloomberg congress editor. we take -- continue to get mixed signals out of the white house. president trump today being more optimistic on the u.s. economy and how trade negotiations are progressing with china. still he's asking for the fed to help out as well. >> this is another continuation of his criticism of the fed. he has urged them to cut interest rates and accelerate bond purchases. now he is tying that to the trade conflict with china. centralsts that china's bank would make similar moves in order to boost it

this is bloomberg. ♪ paul: i am paul allen in sydney. ahn: you are watching "bloomberg daybreak: australia." the latest business flash headlines. phone companies scrapping plans to sell huawei handsets. japan, taiwan, and the u.k. have stopped taking orders for new models or shelved plans for offering huawei devices. the carriers fear the blacklisting of huawei means it won't have access to the most popular version of the android operating system. paul: the french finance minister warns renault and nissan to strengthen their ties. after meeting to japanese economy ministers in paris. should consolidate their alliance. the partnership has been rocky since the arrest of carlos ghosn. he denies all charges and pretrial hearings start thursday. shery ahn: the world's leading world exporter has begun dealing east.l in the middle saudi aramco has started operating as it moves further into its trading business. its expansion plan would push it of globalop tier traders. it has a branch in singapore and is considering opening an office in europe.

i am paul allen in sydney. we are an hour away from the australian market open. shery: good evening. i am shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this wednesday, asian stocks look set to follow wall street lower. a protracted u.s.-china trade war. a risk-off rally in 10-year treasuries sees the yield curve fall deeper into inversion. apple's earnings could plunge by .25 if china retaliates by spanning the iphone. shery: let's get you started with a quick check of how markets closed in the tuesday session after coming back from a long holiday weekend. we saw the s&p 500 fall towards the 110 level with 10 of main groups falling. we are talking about utilities and consumer staples leading the declines. we continue to have concerns over the ongoing trade tensions between china and the u.s. sectors on the s&p 500 also reflect that. the nasdaq falling .4%. we saw theing treasury rally accelerating in the session as well. s&p futures at the moment are n

probably finessing to australian prime minister scott morrison victory address to supporters in sydney after clinching that victory in the country's national election well let's go live now to our andrew thomas his ass and labor party gathering and melbourne and you talk us through the well the atmosphere then now that labor leader bill shorten has conceded defeat. you mean. well the policy was supposed to be here the opinion polls had the labor party at hate consistently they were expecting a celebration. and they sort of clearly has not turned out that way the party is in sydney with the prime minister are you still that say how great still study how bright are australians full busy reelecting again still think besting olds and against all the opinion polls his government and him as prime minister bill shorten the labor party that was in this room about 20 minutes ago now not only conceding defeat in this election but resigning the leadership of his lofty this was not the way it was a post upon out the things of the environment of taxing the rich molds a pipe a better education bette

tom: i am paul allen in sydney -- paul: i am paul allen in sydney.he s&p 500 today gain was the biggest in more than a month. .ue in part to president trump su keenan joins us now. that news is coming after the bell. as good of news as we thought on deeper readings. su: the idea of kicking it down the road is something the markets seemed to embrace. thee were some realities in market that there would be changing headlines on the trade front. there was also some i speculate bad economic news -- unexpectedly bad economic is for the u.s. and china. the snapshot was we saw the media and entertainment sector of the most. .utures are mostly flat that is because we are seeing the tensions ease. as is the overarching headline. let's look at some of the big movers and what you see are various different stocks and different stories. different gainers and losers. this put pressure on the stock. hoover -- lyft and uber both rebounded. the drivers for these auto sharing services are contractors, not employees. that alleviates investor concerns about who would pay

. ♪ we're counting down to the sydney open.ointingcurrently lower by one half of 1% after another down day on u.s. equities markets. you are watching daybreak australia. guest says it's time to tune out the noise and focus on the long-term. she is the ceo of pepper international. an investment firm. great to have you with us. we have seen this huge bull market in the -- bull rally in the bond market. on temperament to be a safe haven. is it time to turn defensive for your clients? they clients are looking at long-term. i manage money for people with over 100 million to $1 billion in net worth. we are planning for five-year and 10 year periods. kind of market is a buying opportunity. you should always have enough liquidity so you can whether the ups and downs of the market. do that, ifou can you look at the s&p over 90 years, it is basically returning 9.8%. remainare willing to invested and you have conviction in your positions, you are better off to stay where you are and have enough defensive cash and bonds to make sure you ha

the seat of sydney.fe labour territory and as you can see behind me, lots of people turning up now and one of the features of the australian election, the sausage sizzle. this is the democracy sausage sizzle. this is the democracy sausage which is pretty popular at polling stations up and down the country. a bit of a festival atmosphere here in australia and you have to remember that voting in this country is compulsory so the authorities have to make it easy for people to vote. compulsory voting came in in1924 people to vote. compulsory voting came in in 192a so, when all is said and done, at six o'clock this evening county begins and by this time tomorrow australia should know who its next prime minister will be. on the issue of climate change, as you mention talked a lot about on the campaign, which party is thought to have the stronger offering? of the two major party, analysts would tell you the opposition labor party has a stronger suite of measures for addressing the climate. the central right pri

sydney time and friday 9:00 p.m. in new york .guest says huawei is troubled because their phones will not be able to recover from restrictions. joining us is alex. great to have you with us. saying huawei has they give ability to come up with their own solution, whether it is software for devising their own chips. do you believe it? alex: he can say whatever he wants. the problem is that for them to create their own ecosystem of third-party developers and something that could replace android, it is a gargantuan effort. microsoft has fat -- tried it and failed. amazon has tried it and failed. facebook kind of tried it and also failed. there is no way they can overcome the blow. shery: we know that china is such a state directed economy. if we are really headed for strategic technological rivalry against the u.s., wouldn't beijing just step in, save huawei? what is the potential of all of these efforts of the u.s. backfiring given this would enhance china's drive to be a key player in those strategic industries? alex: the problem wi

will know that a flyby gets elected astray is back in the fight against climate change in a city sydney that's popular my parents' generation fought for environmental issues and now so going backwards i'm praying for a change of government i'm crossing my fingers for a change and. it's possible the former prime minister tony abbott could lose his normally safe seat over the issue of an independent candidate campaigning on the environment is the narrow favorite to beat him and his part of sydney with a very tight election result independents could hold the balance of power the current prime minister's message is the higher taxes and more environmental regulation will cripple an already delicate economy at the selection of big mikey a simple point. i want to back you i want to back your aspirations the things that actually drive you to your goals your achievements to get a job to buy a house to save your time to live in your autonomy and the wider stoplight is high taxes on all of those things is to vote liberal and national stood up i was going to get morrison will be in sydney for the r

i'm paul allen in sydney.hery: president trump has turned up the pressure on china to finalize a trade deal during talks in washington this week. he is threatening to more than double tariff and import new taxes. says a trade deal is likely, but the key factor is how to ensure it will last. jp morgan global head of research joyce chang joins us from singapore. this chart on bloomberg showing exports to china, also u.s. imports from china. you can see you was imports from china, the bar in blue, is huge. yellow wood be tariff the -- would be the tariffs imposed so far. president trump is threatening to double these tariffs, and a 25%ential the 5% tariff -- tariff on more chinese imports. what would this do to the chinese economy? joyce: this is the height of brinksmanship politics and is making the outcomes more binary i of the friday deadline. there is not much leeway to go past that. economy has been recovering. what this will do is raise immediate questions on the confidence in the was equity market and chin

paul: i am paul allen in sydney.ust to get you breaking news we have had in the past few minutes, it seems that australia's prime minister scott morrison will be able to govern on his own without support of the australian broadcasting -- the australian broadcasting corporation reporting he will have 77 seats in a house. 76 is what is required. he will be able to appoint a speaker and still join majority government without needing to rely on the cross bench. we will head to the man himself, a miracle win. head of strategy at jupiter assets. let's just start in australia. scott morrison, we have already seen the morrison budget for the coming years. it looks like steady as she goes as far as fiscal policy is concerned. tomorrow we have a speech from the rba governor. do you think we will hear that australia is joining the rest of the asian straggle. >> australia has been on the path around central bank easier. being it looks to be continued. we know many of the problems is across the australian housing market. to do wi

by bringing them to ukfor in sydney of 2000.re in manchester this week shows just how much taekwondo has evolved in recent years. and some of tae kwon do‘s best fighters are in britain, but then, they are not an action later in the week. the day one was a chance for some of the rising stars to show what they are capable of. stockman‘s rebecca mcgowan is one of those, she co mforta bly mcgowan is one of those, she comfortably defeated columbia‘s fighter and an impressive victory in the 2017 world bronze medallist of the 2017 world bronze medallist of the netherlands. mcgowan needed just one more victory to secure a metal and was overpowered in the 73 kilograms quarterfinals by south korean opponent. in addition to her, braden have many metal prospects including bianca, who was one of the world title and the women passed by secular division and she is going for a british record third straight victory. i'm trying to make a little bit of history, i cannot ask for a better day as well. i am fighting on the 16th of may endows the day

just landed in sydney will probably be seeing him voting in his south in sydney electorate fairly shortly he'll be making a lot of what labor is not talking about that say is that tax royce's in the government's eyes the fact that they have promised to take away tax breaks for richer australia so the government says that will really cripple an already delicate economy where house prices pulling and that's concerned that could spill into the wider economy the government also warns that the environmental policies of the left of center like the policy will have a crippling economic impact you still bill shorten talking loudly and proudly about environmental ambitions but the concern that the government says it has is that that will hurt the economy those 2 issues taxes paint and they have are never to be front and center of this election campaign and there are some minor policies as well when many seats in the lower house but in a very very thoughts election they could hold the balance of power andrew thank you very much for that for now that is andrew thomas with the latest live and vatican

well tolerance always an option or china but our recommendation sydney australia out. of office that a lost. cause of our media sure don't want to hear from me. new even. as in zyban families are there any of those you know stricken from here on. crabby does the both of us keep on. going short of long it when a whole. but the finish and the bench going through a mommy to me. is made me this is. the system laura bush and those running from years when you fall as one when if our stock.

i am paul allen in sydney. shery: i am shery ahn. .ophie: and i sophie kamaruddin we are counting down to the major market opens. paul: our top stories this wednesday. asia civic stocks are set for heavy declines after president pushes terror threat items down. china confirms talks in washington, but officials also say retaliatory measures are being prepared against u.s. goods, and lyft sees a brighter future as performance beats expectations, but there is worry about ballooning losses. shery: we have breaking news out of south korea, the current account balance, the surplus at surpluslion, the larger 4han previous months, also $8. million much higher than the previous month in february. of course, we had seen exports take a hit in south korea despite the fact that exports fell for five consecutive sessions or five consecutive months. we are now seeing the surplus in the trade, in the current account balance coming in higher than the previous month of march billion. let's get you a quick check of markets closin

in sydney. u.s. subscribers can watch through tv on your two oral or on coming up on -- on bloomberg.com. we will look at the market impact and which sectors may fare better than others. paul: later in the show, softbank's big bet pays off. this is bloomberg. ♪ >> they broker-deal. they cannot do that. so -- they broke the deal. they cannot do that. >> president trump appears to be crazily. i will call him rationally crazy. >> it is almost existential between the united states and china. >> say to president trump, you're going to get a good deal. you have got to be patient, patient, patient, >> passive, persistent, stick with it. >>it makes a time, but we should do the proper trade deal. i would rather not do the deal then do a bad deal. shery: president trump and other key policy and market players weighing in on a trade battle between china and the u.s. one of them calling the president rationally crazy. that is an interesting one. the s&p 500 on pace for its worst week of the year. goldman sa

check in sydney.rt of past trade, despite to the upside while the aussie dollar is rising ever so slightly. we are seeing bonds on the retreat. markets make room for this largest supply of the tenure sector. in new zealand, stocks extend friday's decline while the kiwi dollar is holding onto a two-day shery: advance. shery:thank you for that. let's get to the first word headlines. president trump will talk trade with japan's prime minister shinzo abe on monday after a weekend of golf and sumo wrestling, the two leaders attended a sumo championship with trump presenting a trophy. he will meet japan's emperor on monday. the president says no trade deal will be signed with any agreement to be finalized after japanese elections in july. pres. trump: with this a deal, we hope to address the trade imbalance, remove barriers to, the united states exports, and ensure fairness and reciprocity in our relationship. we are getting close. top financial regulators as escalating trade tensions will create volatility

i am paul allen in sydney.ry: let's discuss those renewed trade tensions that look set to weigh on wall street with the week ahead also kicking off with a new round of earnings. su keenan joins us with more. tariffs man is back and the markets are not liking it. su: the greatest of these at the onset is the tariffs news and that will set the tone monday. look at how we ended the week, a small -- strong week for the nasdaq, closing at a record. the s&p 500 groups fired well strong jobs number. let's go into it. the bloomberg gtv is where you can find our library of charts. the economy added 63,000 nonfarm hijabs and the jobless rate was the lowest in 49 years. that appears to be a strong piece of data. weekit translate into this is the question because earnings and now shery mentioned, the latest trade news will likely [indiscernible] -- will likely dominate. disney, aig, the insurance company, barrett gold in the headlines these days and softbank among the big reports out with their outlook. that will weigh. we

i am paul allen in sydney.r away from the market open. >> good evening from bloomberg's global headquarters in new york. i am kathleen hays. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this friday, president trump turns up the trade war heat. he says while he is dangerous and may have to be included in any talks with china. asian stocks are set

were expecting a celebration and they sort of clearly has not turned out that way the party is in sydney with a prime minister who you saw all that say how great so stylee how bright are australians full busy reelecting again still betting alton against all the opinion polls his government and him as prime minister bill shorten the labor party it was in this room about 20 minutes ago now not only conceding defeat in this election but resigning the leadership of his posse this was not the way it was supposed to kind out the things of the environments of taxing the rich molds a pipe a better education better health but it infrastructure those were supposed to tight labor over the line for the government said those sorts of commitments would cost the average australian money that increased environmental standards for example would get people to people in their pockets and that all those extra taxes well they would mount up to a really dental strategy its economy and that was a message that clearly got through in the swing seats that might at the marginals just 20 or so around the country th

this is a professor from sydney. through, whatran is the most standout news of the end of the evening? >> we expect brexit to do well. i think we are concerned of the far right in france and italy, anti-e.u. forces. it is not a uniform picture. where the far right did well in the national election have fallen away to something like 6%. in holland it has fallen away. in germany no advance by the far right. very much an election where national concerns dominate. there is an overarching european story here. the president is very fragmented and difficult to do business with. paul: the greens turned in a good result but look at the turnout, 51%, it is the highest in 20 years. >> citizens are agitated about things, could be the climate or immigration. it is striking. we are used to elections being a .ow end some constituencies in the u.k. went under 10%. it is anxiety and also they want change. they don't want the same old center left and center they are willing to shop for new kinds of parties. u.k. let's focus on the y's

and this is the australia street polling station in the seat of sydney.ery safe labor territory and opinion polls are suggesting a victory for the opposition, labor party. 16 million australians will have their say in this election. the two major parties are presenting a very different vision for the future of this country. the governing centre—right liberal national coalition says that the opposition can't be trusted with money and can't be trusted to manage the economy. on the other side of the ledger, we have the labor opposition led by bill shorten, a former trade unionist and he is saying that he will spend billions on health and education. we've been speaking to voters here and this is what they've had to say. i am a nurse by trade, and so on the front line we see a lot of change, especially a constant change of the government policies. we have to enact them, it's important to me that we have a government that supports the healthcare system and our educational institutions. and that they do well for the community they're supposed to serve. for me, c

will know that if i begin selected a strike is back in the fight against climate change in a city sydney that's popular my parents' generation fought for environmental issues and now so going backwards i'm praying for a change of government i'm crossing my fingers for a change because. it's possible a former prime minister tony abbott could lose his normally safe seats over the issue of an independent candidate campaigning on the environment is the narrow favorite to beat him and his part of sydney with a very tight election result independents could hold the balance of power. the current prime minister's message is the highest taxes and more environmental regulation will cripple an already delicate economy at the selection i'll be making a simple point. i want to back you i would have backed you respirations the things that actually drive you to your goals you were to get a child to buy a house decide if you're a charmer to live in your autonomy and the why do you stop life is high taxes on all of those things is to vote liberal and nationals today. was going to get morrison will be in

morrison will be in sydney for the result will be in melbourne but neither will be confident. austria's far right deputy leader has resigned over a controversial video vice chancellor heinz christian. parent lee offering government contracts to an unknown russian woman in exchange for political support the secretly film video was published by 2 german newspapers chancellor sebastian kurtz as conservative people's party. gratian freedom party joined forces in 2017 to govern the country. covering the story joining us from london so huge political fallout in austria and an interesting turn of events this is come as a surprise. well i guess certainly for struck it was most certainly a surprise considering that even during that video which was made in july 27th t. he even suspected at one point that he may have been being settled but clearly those worries were laid and he continued speaking about the business in hand as it were which revolves around gaining russian support financial and political in a bid to try and win over contracts not just with austrian businesses but with the

he joins us from sydney.when for the conservatives come down to canonic issues or was it simply who ran the best campaign? well, i guess it is hard to diagnose that definitively right now but clearly a lot of people are praising the campaign that scott morrison ran, this very personality focused effort that was all about him and his appeal. he presents himself as an ordinary guy, and it ordinary dad and the message he was delivering was a heavily economy focused one about keeping the economy growing and stable and going negative, he said that the labour party was a threat to that with their tax reform agenda. . both of those factors were in there in that he is now, as a personality, propelled into hero status with his party and he is basically untouchable for them even though they were expecting a loss. and yes, there will also now be discussion about how people approach, well, how voters approach economic reform because labour had set out a fairly courageous reform agenda. a lot of people were watching austr

another 2 just north of sydney there's a couple in western australia about a 4 hour flight from hereand there are 2 more in the island state of tasmania just off the southern coast of australia those hunt full of states really will decide this election and it's going to be very bright spot the opinion polls suggest that labor has had a consistently for months but it's an elite that has been narrowing so i don't expect any landslide in this election as you say bill shorten there putting the environment front and center he's also put the state of work his way just right and center you heard him talking there about penalty rights these are the extra amounts that workers get paid for working on weekends or public holidays they've been largely scratched by the government party wants to bring them back in he's been boosted in the last 24 hours plus the right price used by the death of a very popular former prime minister bob hawke he was prime minister in the eighty's into the ninety's he was a labor prime minister so he was a great reforming leader only issues like workers' rights but als

this is bloomberg. ♪ ♪ i'm paul allen in sydney.one hour away from the australian market open. >> good evening from bloomberg's global headquarters in new york, i'm taylor riggs. sophie: and i'm sophie kamaruddin in hong kong. welcome to "daybreak: asia." ♪ paul: our top stories is thursday, japan and china remain closed. the rest of asia has a tough trading day as the fed pushes capitulation. it is being held back

in the a—league, sydney fc are through to the grand final, where they will face perth glory in western accounted for current champions melbourne victory 6—1, which was sydney fc‘s biggest finals win and victory‘s biggest loss. novak djokovic won another title, to draw level with rafael nadal‘s record number of 33 victories in masters events. the world number one beat stefanos tsitsipas in the madrid open final, where he never dropped a set all week. richard mcelvanney reports. he hasjust he has just celebrated 250 weeks as well number one, and know shock of it looks like he has many more at the top in him. twice a champion in madrid already, he was quickly into his stride against the kings layer. stefa nos his stride against the kings layer. stefanos tsitsipas had taken rafi on the dial out in their semi—final, and at times looked like he might add another big scalp to his growing collection. the 20—year—old greek already has wins against the big three to his name, but a repeat wasn't going to happen here. jock vic took control and took the first set 6—3. tsitsipas wasn't going to give

i am paul allen in sydney. we are one hour away from the australian market open. shery: i am shery ahn, welcome to "daybreak asia." paul: our top stories this tuesday, the t ariff-driven selloff. investors seek safety. gold gained the most since february while the yen has strengthened in early trading. oil goes the other way, dropping for a third day and erasing earlier gains sparked by tensions in the middle east. shery: that's get you started -- with aet you started quick check on how markets closed. stock markets losing more than in the hall of last week. without losing more than 600 points. trade sensitive stocks like caterpillar and apple losing 5%. the s&p 500 fell in this session. with all the nasdaq also losing the most this year. 10 year treasury yields falling to the lowest levels since march. the three-month tenure part of curve 10 year part of the falling. u.s. futures not doing much and holding above the 2800 level. let's see how we are setting up for the asia open. paul. paul: thanks. as you might