tom: with our first word news, here is taylor riggs. the trade war between the world's economies, it has escalated. the trump administration imposed tariffs on another $200 billion of chinese products. beijing is poised to retaliate with duties on $60 billion of american goods. president trump has said that would lead to tariffs on another $267 billion of chinese imports. china says it will not hold trade talks until the u.s. quits making threats. brett kavanaugh's nomination to the supreme court is in danger of falling apart after a new claim of sexual misconduct. senate democrats are investigating an incident that is said to have taken place during college years. he is denying the allegation. on thursday, a woman who said kavanaugh assaulted her decades ago, will testify before the senate judiciary committee. it is a victory for comcast after a series of setbacks. the company overwhelmed 21st century fox with a bit first guy, -- bid for sky. is that but it sure comcast will win control and have a chance to build a global television gia

your first word news with taylor riggs. te republicans are pushing ahead with a plan to confirm supreme court nominee bret kavanaugh soon after that hearing with the sexual assault accuser tomorrow. a mutual likely been weekend session and a senate vote on the nomination early next week. republicans have asked a female prosecutor from arizona to question both kavanaugh and his accuser. president trump's handshake with justin trudeau at the united nations suggests the canadian leader is still in the u.s. doghouse. trudeau approached the president at the yuan luncheon, tapped him on the shoulder, and the two shook hands. the president did not stand off. the countries are divided on a number of issues although they are closing in on a new trade deal. at thena is pushing back trump administration days after the u.s. imposed sanctions on the chinese military. beijing has refused a request for the uss wasp to make a port call in hong kong. bwest penalize china for buying russian weapons. -- the u.s. penalize china for buying russi

here is taylor riggs. china taking steps to lower cost for consumers as the trade fight with the u.s. athletes. beijing plans to cut tariff rates on imports from the majority of its trading partners as soon as next month. china is raising duties on american goods to retaliate for new u.s. terrorists. iffs.s. tar european efforts are undercut to keep the 2015 nuclear deal alive. is then, shinzo abe longest-serving prime minister. term. won his third that will clear the way for him to continue with loose monetary policy that helped japan see its sinceest period of growth 1990. european and british leaders are warning each other that time is running out on an agreement on brexit. the british prime minister theresa may says the u.k. will not extend talks to give negotiators more time. jean-claude juncker says the deal is far away. remains stumbling block the irish border. global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analysts in more than 120 countries. i am taylo

let's get to bloomberg first word news with taylor riggs in new york city. or: an internal report shows 200 billion euros flow through its unit at the center of a money-laundering scandal. toy have failed to live up its responsibility in the case of possible money-laundering in estonia. china will not devalue its currency amid the trade fight with the u.s. that is the message from the premier just hours after his country retaliated against the latest increase in terrorist -- tariffs by the u.s. administration. beijing announced retaliatory on $60 billion of american goods was came in response to donald trump ordering his administration to billioniffs on $200 starting next week and to increase the rate in january 2 25% if beijing refuses to offer concessions. beijing plans to hit u.s. goods with 5% to 10% tariffs. >> where the piggy bank of the world. we have been ripped off by china and the european union. we have been ripped off by everybody. holdings of u.s. treasury fell. beijing's ownership of american fell to $1.7 trillion. is the largest foreign investo

taylor: i'm taylor riggs. this is "bloomberg markets."e: let's check in now on the bloomberg first word news. >> the pound is surging after the european union' chief brexit negotiators said a deal with the u.k. is realistic within eight weeks. he says there are still several issues to be dealt with. negotiations continue this week in brussels. president trump resumed his campaign against journalist bob woodward's new book. he called the book a joke. he said that he will write the real book about his administration. woodward's book describes a chaotic white house in which some former staffers actively deceive the president and undermine his orders. lawyers for maria butina have blasted the u.s. in a late-night court filing. they say prosecutors overstated a case by including false statements and earlier motions to give their client in jail before trial. to is accused of trying establish back channel connections between russia and conservative groups. there is a pretrial hearing in court today. billionaire jack ma's spent two decades turnin

i'm taylor riggs.loomberg. francine: thank you so much, taylor. all week, we have been covering the collapse of lehman brothers 10 years along. lehman at the time and walks us through what he remembers from september 2008. i'm a macro strategist at bloomberg. 10 years ago, i was an em trader at lehman brothers in london. by late 2007, it became clear we were heading towards some sort of financial crisis. i was naive enough to think that lehman brothers was the safest bank. i think i was brainwashed a little bit, my first full-time job out of university, and i really enjoyed it. the atmosphere was really good. in the summer of 2008, they became this idea that the reality was different to a management or possibly presenting to us. the situation was much more dire. 12th, i was flying to budapest for a work conference. there were other junior salespeople and traders there from lehman brothers. i remember assuring them on saturday night, it is fine. the worst-case scenario is that we get taken over by bank

here's taylor riggs. t trump got some last-minute pressure not to impose tariffs on $200 billion of chinese products. some of america's most prominent tech companies and retailers are urging the president to hold up. members of the public had until yesterday to comment. the president could announce tariffs as soon as today and china has vowed to retaliate. it is unlikely there will be a deal on nafta this week. that is according to a canadian government official. canada's foreign minister has pushed back against questions of any deadline. the trump administration has warned it is willing to sign a trade deal that only includes mexico. in brazil, the leading candidate in the presidential race is in stable condition after a near fatal stabbing. right-wing lawmaker jair bolsonaro was attacked during a street rally. the attacker told them he has been sent by god. brazil's elections are next month. global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts in more t

taylor riggs. taylor: we thought the faang selloff was bad. relative to the chinese tech selloff we have had recently. i have normalized the faang going back a year. cap whilen in market the chinese tech stocks have lost about $7 million in market cap. aboutp hearing so much u.s. versus rest of the world and how the u.s. keeps doing so well and leaving everyone else behind. no better way to show this than here with the faang relative to the chinese tech stocks. you can find all of this on my terminal. vonnie: i really like that chart. cinderella, beat that. againstd time in a row the cohost. the odds are definitely stacked against me. this is a chart of china trade balance with the u.s. and china's export growth year over year. we wills points to, flip this into a currency story, is continued weakness for the offshore yuan. as china's trade balance continues to build against the united states we are more than likely to see a very aggressive trade response from the president. at the same time year-over-year exports are declining which also spel

here is taylor riggs. y north carolina has not seen a hurricane like this in 64 years. wins with up to 140 miles per hour. it should come to shore late thursday or early friday. the storm is expected to stall once it makes landfall. people fleeing the hurricane have left store shelves there. trade association is joining forces to oppose president trump's tariffs. the group represents farmers, retailers, and manufactures. it is called americans for free trade. the coalition plans to highlight stories of business, farm, and consumers who have been hurt by the trade war. --e conservative economists claim that a corporate tax cut has already paid for itself. house is trying to strengthen the president's claim that economic growth is due to his policy. and indeed asia, the finance minister once exporters to keep their earnings in the country. she spoke to bloomberg. >> the flow is not -- i just met the fund manager. the amendment is different. we adapt very quickly. taylor: global news, 24 hours a day, on air an

i am taylor riggs. this is bloomberg.hina's chances of escaping trade tariffs with the united states with only minor damage is looking less likely, after president trump -- on his threats to impose higher tariffs -- doubled down on his threats to impose higher tariffs. former people's bank of china governor has warned that these economic consequences may be larger than anticipated. >> how much does a trade actually hurt the chinese economy? war actually hurt the chinese economy? >> we need to have contemplative calculations. mathematics to capitalize the negative impacts of a trade war on the chinese economy. amount ishe aillion, buta 00 small impact. people may become nervous because nobody really knows there is a trade war. they may change their minds in terms of stock market investment. there could be different considerations for how to deal with the currency portfolio. this is much bigger than the impact in the community. we see currency depreciation making people nervous, such as in turkey and argentina. hopefully se

let's get the bloomberg first word news with taylor riggs in new york. or: italian bond yields have surged and the euro is lower this morning after the government says next is budget deficit targeted at 2.4% of output. this comes as the populist party pressure finance minister johnny ria tovanni t provide work funds for their collection. retail sales accelerated as a faster that -- at a faster than expected pace and factory output jumped for the first time since april. retail sales grew 2.7%. the figures suggest japan's economy remains healthy despite a likely hit in the current car there -- quarter from extreme weather and an earthquake. the governor of the bank of canada is confident that each radio can be reached with the u.s. and mexico. addressing brazil's leaders in new brunswick, he said the -- business leaders in new brunswick, he said the u.s. is less -- to his country than it once was. >> canada's dependence has been trending down these last 15 years or so. that's of course because we are developing markets in other places, and no doubt the free

right now, here is taylor riggs. ce could turn into the strong hurricane to hit north and south carolina in 30 years. more than one million people in the region have been ordered to leave their home before hurricane florence comes ashore. landfall is expected thursday and friday. it is estimated that damages could reach $27 billion. president trump is open to another summit with north korea's kim jong-un despite stalled nuclear talks. the white house says the president received what he called a positive letter from kim. there is no evidence that the regime is taking meaningful steps towards eliminating the nuclear arsenal. china's president xi jinping and russia's vladimir putin are meeting in vladivostok. trading with china will raise about $87 billion to $100 billion in 2018. russia and china begin seven days of joint military exercises today. iran's nuclear chief says he hopes the atomic deal survives, but he warns they will be in a stronger position if it is not. president trump decision to withdraw the u.s. from

here is taylor riggs. l hill there will be high drama on the high court. a woman who is accusing brett kavanaugh of sexually assaulting her will testify before the senate judiciary committee. , shehristine blasey ford said she was too ashamed to tell anyone. , and thiswill testify week other accusers have come forward. kavanaugh has denied the allegations. international monetary fund has expanded its bailout for argentina. the countries credit line -- the imf will develop -- deliver more of that money up front. the idea is to pull the economy out of a recession. in italy, negotiations have been hit by last-minute demands for extra spending from the populist coalition deputy prime minister and luigi di maio. says there is no point being in government if you cannot deliver on your promises. president marcon will welcome back the u.k. if voters decide to stay in the eu. macron spoke to our editor at the bloomberg global business forum in new york. >> if the british vote to remain, would you have a spec? -- wou

let's get the first word news from taylor riggs. taylor: argentina showing the economic outlook has deteriorated amid a new currency crisis. he also forecasted a deepening recession. mademf said officials progress with argentine leaders. following a credit line agreed in june after a sharp selling off of the peso. >> we expect that the deal will be signed during the board meeting that will take place in the second half of september but we need a technical agreement before that. taylor: donald trump and his allies have attacked a soon to be published book by bob woodward titled "fear." it shows the president as mercurial and a liar and his staff disdainful of his boss. trump says it is already discredited and describes it as a con. over in italy, half of the populist coalition running the country, is discussing a 2019 budget deficit below the eu's 3% of gdp limit. this is an attempt to send a reassertion -- reasserting message about government spending. they have not yet released a final decision. they declined to say whether the targ

here is taylor riggs. come and gone with no nafta agreement between the u.s. and canada. foreign minister said she discussed top issues in a meeting with robert lighthizer. the sides are in continuous negotiation. american companies should not count on exemptions from the latest round of tariffs on chinese goods. the trump administration has not put an exemption process in place, unlike it did for earlier tariffs. the white house is giving companies more than three months to move supply chains away from china before it raises tariffs. president trump's former lawyer michael cohen is talking to attorneys for robert mueller. he has had multiple interviews. he is said to be talking about the president's business and dealings with russia. secretary of state mike pompeo hints that talks with north korea are making progress secretly. pompeo tells fox news that the u.s. is making progress on denuclearization. he says it does not get reported and he is glad. skeptics have questioned whether the u.s. has much to sho

francine: let's get the taylor riggs. ent trump calls it a matter of national security. he is demanding that the new york times revealed the identity of a senior official who wrote an anonymous op-ed article of -- arehat members working against him. says he is open to accepting stronger steps to get rid of nuclear weapons, but that is only if the u.s. technology is the measures he is already taken. meanwhile, the two country as hold another summit less than two weeks from now. they will discuss ways to establish peace and ease military tensions. japan, a powerful earthquake has killed two people and knocked out electricity to almost 3 million buildings. it measures 6.7 and struck the western part of the island. restoring power could take more than a week. the world's's second most populous country has legalized g ay sex. it partially struck down a 158-year-old law from the colonial era. global news, 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countrie

is -2.5.n yield here is taylor riggs.will be dominated by trade disputes with canada and china. he is trying to force chat -- candidate to sign a new nafta on his terms. there is, as -- opposition in congress. they will roll out new tariffs on chinese goods. that could happen after a public on thursday.ends the president is angry at jeff sessions. the president blamed the justice department indictment on to republican congressman for endangering their seats in the november election. he wrote good job, jeff. everything from mommies and dinosaurs were destroyed in a historical treasure. authorities in rio say the 20 million items in the museum were destroyed. hydrants ande fire extinguishers and not work properly. predict aters hurricane over the gulf of mexico, the city of new orleans has declared a state of emergency and some oil companies have started evacuating crews from offshore rigs. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries, this is bloomberg. i am taylo

for now, let's get to taylor riggs in new york. or: china has said it is completely up to the u.s. when trade talks resume. is fully said china capable of offsetting the effects of the dispute and will boost domestic demand investment and business sentiment. >> china does not want a trade war, but we're not afraid of one. we have the confidence and capability to deal with all challenges.ks and china has kept the door open to negotiations, but negotiations must be conducted on the conditions of mutual respect and credibility. taylor: donald trump said he is looking forward to meeting with broad rosenstein on thursday to discuss his future. -- rod rosenstein on thursday to discuss his future. his future status and intentions were mired in confusion yesterday in the aftermath of you suggested he would secretly record conversations with trump. brett kavanaugh has said he never sexually assaulted anyone. interview, he defended himself against allegations that threaten to unravel his confirmation. republicans are scrambling to save his no

taylor: i am taylor riggs. this is the european close.for your bloomberg business flash thomas some of the biggest stories in the news. the canadian marijuana company is soaring. the ceo touted their prospects in a tv interview. they rose 29% after announcing u.s. regulators had a plan to import regulated -- medical marijuana. they have risen more than 800% since their debut. the long battle for control of the uk's sky broadcaster may be settled. the bidders will be comcast and 21st century fox. disney has beaten out comcast by most of fox's entertainment aspects. ,f fox is the winning bidder disney would get control of sky. amazon's advertising business is rising faster than expected. they have raised an estimate from $2.9 billion to $4.6 billion. that is your bloomberg business flash. vonnie: let's take a look at where european markets are trading. less than four minutes to go, it is all good news for the ftse, the dax, and the cac. ♪ to rent a movie? showtime. or buy the hottest shows. even here? we've got you covered. now they are all

taylor riggs was on the ground in north carolina and experienced the power outages and the coal ash. or: we were down there, and there was flooding. duke energy said about a quarter of their 4 million customers lost power. that's 1.5 million customers. the numbers have been getting better as the weeks progressed. originally they restored power to about 800,000 customers, that's about 1.2 million on monday. now today, only 150,000 people are left without power. flooding has been the main concern. duke also dealing with the fallout caused by the flooding from the coal ash spill that contained coal ash and mercury and non-toxic material went into the area. that has been the latest follow. alix: what is the impact on some of the commodities with respect to the flooding that we have seen? taylor: a lot of it was fishing. some of the mercury has some of the environmentalists concerned. hogs. who knew there were 2100 hog farms in north carolina. they are the second-biggest producer state. 5500 are dead, 3.4 million chicken and turkeys are also dead. as we go on the list, they are also one of

for first word news, we go to taylor riggs. taylor: the u.k. union -- that you union -- according to eu diplomats, officials are starting to -- startinghe iraq border.ft on the irish the eu team indicated it is ready to do so once the conservative party conference is out of the way. toricane florence is set park itself off the coast of the carolinas, threatening a huge swath of the coastline before making landfall. the u.s. national hurricane center says the category 3 storm is forecasted to deliver three inches of rain and trigger catastrophic flooding. a stormpected to drive surge to resort tyrone's -- resort has a have been evacuated. the typhoon is expected to make landfall in the philippines saturday. 17 areas are on alert. it is forecast to lose sans power in the coming days before heading to hong kong and south china. has showntest iphone how even the world's largest company has to surrender to the dictates of a crucial chinese market. the new model supports two cellular services and easier switching between carriers. but that technology

alix: thank you to bloomberg's taylor riggs. let's get into the ring, it is the big headline, oil.eports indicate saudi arabia is comfortable with brent over $80. president trump, not so much. we protectthis, " the countries of the middle east , and yet --. the opec monopoly must get prices down now." ashley peterson, lead oil is here. >> oil definitely has upside price risk for the next six months. we could see it hitting as high as $85 after the november sanctions come into effect. alix: are we in a threat of more tweets coming in? what is the downside? >> there is one spr release planned, and it will not be enough to make a dent. we are going to hit 100 million barrels a day of demand in the next few weeks. we have venezuela collapsing. how much can saudi and russia really bring to market quickly? that's the problem, so tweets or not, prices are rising. alix: that's the problem going into this joint member meeting sunday between opec and non-members. we take a look at a run in production and exports, you see how much has come up. you can argue the worst is yet to come. what do y

let's go for a look outside the business world with taylor riggs. ident trump indicates a trade fight with china will not be a short one. the president told foxnews it is time to take a stand on china. the next round of tariffs take effect on monday. beijing retaliated by slapping duties on more american products. the woman who accused brett kavanaugh of sexual assault is willing to testify, but not until next thursday. bloomberg has learned that she appear on monday as the judiciary committee requested. a response yet from the committee. leaders warn the u.k. that time is running out to make a deal on brexit. theresa may announces to come up with new plans after the eu rejected her current blueprint in austria. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. david: thank you. european pmi indicated continuing softening in european growth comes in manufacturing. we welcome portugal's economy minister, manuel caldeira cabral.

i am taylor riggs. this is bloomberg.nks so much and we have a very special guest, kewsong lee, carlyle group co-ceo. >> thanks so much. we love talking to private equity guys because they just sit right in his address everything. kewsong lee, co-ceo of carlisle, great to be with you. your fresh off your first annual meeting with your investors in your new role. what was the main message to your customers as they gathered in washington? >> a couple to results happening. first, investors are pleased with the return. the industry has been doing great. it is fair to say the u.s. economy is doing great. the issues of the day are, how long can this continue? how long can the global economy keep going? we are starting to see interesting signs. in the deal environment, how is all the money going to be deployed that investors have raced, and what will happen to returns? >> roughly $1 trillion, give or take, and so-called dry powder. >> roughly speaking. it is a lot of money. >> how worried are you, given what you oversee across a

i am taylor riggs.his is bloomberg markets. vonnie: now to a departure danske, one of the largest money laundering scandals ever. and it cost the ceo his job. we are joined from copenhagen. take us through what danske reports found? >> besides the ceo stepping down, we know about the funds klein from the estonia unit, mostly from russia, into western europe. one thing missing was the chunk that were the illicit funds, the dirty money, and many criminal complaints suggest that is about 9 million -- 9 billion u.s. dollars. the report did not say how much that would be, but they did say 200 billion u.s. dollars was the total flow of funds. chairman, hehe said the majority of the funds may need to be treated as suspicious transactions. when i spoke to him, we spoke about when they first acquired the bank and he said how they were red flags then. take a listen. >> when we acquired the bank, not acted some alarms upon, but there were already alarms. that have been some alarms are more serious than others, and

taylor riggs is in raleigh at the command center of duke energy, one of the largest utilities in the ive us an update. taylor: it is interesting to wear in raleigh, even though we are not necessarily flooded because we are at the duke in the stormarters operations. they provide most of the power to the neighboring regions and the carolinas. we just got an update last night when we spoke with the north carolina president of duke energy. he said one quarter of their customers had lost power, 1.4 million customers. they have restore power to one money people. that leaves over 300,000 customers without power. the floodwaters are still expected to peak, even two weeks from now. they are having a hard time getting to some of the toughest because of floodwater. company estimates and estimates -- experts say it could reach $22 billion for recovery . this is due to the massive flooding that we are seeing. ande rivers are converging presenting the problem. is it still raining there? i know some of the rivers have not yet crested. are we starting to see businesses reopen, or are people waiting f

shery: thank you taylor riggs.oming up, the last day of hearings and judge brett kavanaugh is cruising through on the likely path to confirmation. we learn -- did we learn about his judicial opinions? we will talk to ilya shapiro next. this is bloomberg. ♪ shery: president trump announcing that there could be another $267 billion of tariffs on chinese imports ready to go. $200would be an additional billion worth of tariffs. yesterday, -- those could come at any time. the president saying another $267 billion of chinese tariffs are ready to go. they could be ready on very short notice. that would be an additional to the $200 billion tariffs we have seen. we have not seen an announcement of the tariffs yet. if you look at this chart, you is see that president trump set to be backing those $200 billion of chinese tariffs. a $50 billiony tariffs on chinese imports and there could be another $267 billion, and this could mean that the total volume of chinese imports from last year. david: he may be saying that he wants t

our thanks to taylor riggs with our stock of the hour. speak with a ceo as a company starts trading. from new york, this is bloomberg. ♪ to rent a movie? showtime. or buy the hottest shows. even here? we've got you covered. now they are all yours. to take on the go. on any screen. bingo! alright! and watch whatever you buy. wherever you are. head to xfinity.com/stream to start watching. simple to rent, easy to buy, awesome to go. david: from new york, i am david westin and welcome to balance of power, where the world of business meets politics. theresa may putting it to europe. kevin cirilli on capitol hill on the confirmation of brett kavanaugh and president trump calls the question on china. first, london. we had a dramatic announcement from theresa may as she said she is sticking to her core, is this where we need to get to where brexit? >> it has been humiliating week for theresa may as she woke up to gruesome headlines in the newspapers after a terrible summit in salzburg, austria where she went hoping to have warm words from her fel

taylor riggs is with us now from the duke energy center in raleigh. ll us the latest from the epa please. taylor: it was really interesting because we just had crossing -- headline that the epa said a second breach had occurred at the north carolina coal ash site. fortunately we are here at the command centers and i ran over to the spokeswoman and she gave a statement to clarify some of the headlines that we are getting here. she did say they are burned to the same of that, so this is not failure. they were seeing some small water and asked that had washed off into in and did -- adjacent industrial site. they noticed in a visual inspection, a 100 foot area where material has settled. reiterating that this is not a second failure of the same erosion event we saw on sunday. fountain, theavid north carolina president of duke energy. i asked him about that first erosion we started to see. here is what he told me. >> it is not hazardous. we believe most of the material was obtained -- maintained on site. there is noidence impact to the environment or public

. ♪ taylor: i am taylor riggs. this is "bloomberg etf iq." ♪ taylor: some bright spots appear. causes some investors to take a pause. you will hear our interview with jim rogers. he expands his exchange product family. assets skyrocket for one cannabis etf. we dig in.

. ♪ ♪ taylor: i am taylor riggs and for scarlet fu. iq." tf ♪ emerging markets stress, some bright spots appear. turkey and argentina caused some investors to take a pause. taylor: you will hear our interview with jim rogers. his --nds

there is taylor riggs. taylor: a little bit of a comeback after the jobs report appeared not sure it market loving the numbers with the s&p 500 turning positive. the nasdaq up about .4%. chipmakers leading the rally. report in relation to the 10 year yield. wage growth coming in much better than expected leaving some to show that they will have to hike faster and better. see what the 10 year yield is putting pressure on some of the homebuilders. you see rates rise. you see pressure come in on the homebuilders. overbuilding, rent falling, renters pulling back on that. companies,tech broadcom doing better than expected. they did not need the bid for qualcomm. up about 8% on earnings and say an increase in revenue. marv l up 5%. marvell up 5%. apple has an iphone later this month and speculation are they forecast better-than-expected earnings. my terminal is about tech and something we are watching. the weight of the text in the s&p 500 now up 26%. the computer chip we were talking about in the nasdaq, up 43%.

there is taylor riggs. taylor: a little bit of a comeback after the jobs report appeared not sure

carol: taylor riggs, what a ride. taylor: come into my terminal.his is just one of the basic market stories i love. i am going back to 1924. we have a regression line. already up on the s&p 500. and caroline jason, it's really interesting heading into the fourth quarter already revising up their price target. goalseady met those earlier in the year. jason: with so much behind us in this bull market already. this sets the chart up nicely for the cover story in "bloomberg businessweek." "the most boring bull market ever." carol: even a boom can feel kind of blah. chris: i think it is probably safe to say we are looking at the boring quality of the stock markets over the last 10 years. the story is one of these retrospectives. when i say boring, some people get a little bit upset. boring was exactly what people were hoping for this time 10 years ago and they would have gladly have taken it. the story looks at a kind of disaffection that has gone on in the stock market. this is changing nature. one of the editors used the word bloodless to describe the

let's bring in taylor riggs with an interesting chart. ylor: i like the top line, because it shows a clear picture of what they are doing. going down, things can look muddled. we are looking at top line revenue growth. normally, a company of the side that pulls in $200 billion of revenue, you'd expect a minute or high single-digit growth, but this company continues to blow it out of the water. another reason why even at $1 trillion in market cap, economists are still bullish. jason: i kept looking at that chart and thinking "am i reading that right?" and that brings us to a highlight, an interview with jeff bezos thanks to our colleague david rubenstein. carol: we have a rare conversation with jeff business at the economic club in washington. a must watch in a week filled with stories about amazon. filled with speculation about a new alexa devices, cars, and more. jason: there is always a lots to talk about when it comes to building a trillion dollar company and leadership. so here is a clip from the david rubenstein show. david starts by

taylor riggs will tell us more. taylor: joining me now is robert dimella.reat to have you here when we are talking a lot about cap bonds. robert: if there is a short-term dip, we would be a buyer of them. a lot of fear and greed affects the municipal markets. that is in the insurance marketplace and the corporate marketplace. they exist in the mean to civil space where commercial insurance is not large enough to meet the demand, in states like florida and louisiana. you don't really have them in the carolinas where hurricane florence is most likely going to make -- hit land. if somebody is going to be floridag and sell citizens catastrophe bonds at wider spreads today, we would look to take advantage of that and by the matt attractive spreads. taylor: talk about the economic activity that often happens after a hurricane. does that change are fundamental analysis of some of the local municipalities there? robert: it does not change the analysis but it is built in from day one. diversification is important. you don't want to overweight certain critical areas.

i am taylor riggs. this is bloomberg.: thank you. , a sunday,o today when hank paulson when in front of the press to announce the government was taking over fannie mae and freddie mac. >> fannie mae and freddie mac are so large and so interwoven in our financial system that a failure of either would cause great turmoil in the financial markets at home and around the globe. we have determined it is necessary to take action. the action should accelerate stabilization of the housing market and ultimately benefit financial institutions. they will no longer be managed with a strategy to maximize common shareholder returns, a strategy which encourages risk-taking. we will make an error if we do not use this time to permanently address the structural issues presented by the gse's. david: someone who was at the center of the financial crisis, neil barofsky, and still with us is constance hunter from kpmg. let's start with fannie mae and freddie mac. we will put up a chart of what went on, they were responsible for $5 trillion in

taylor riggs has a report from north carolina at did power. re at the center of operations for duke energy in raleigh. we spoke with the north carolina president of duke energy and he just gave us an update. more than a quarter of customers lost power at one point, 1.4 million people, but they have restored power not to one million customers, but over 300,000 remain without power. the may concern has not just been flooding. as you know, they have three rivers here. flooding may not even peak for another two weeks. the flooding has been a may concern for them, even though it was just a category one instead of a category five, that is the may concern going ahead for the next few weeks. david: thank you. alix: joining us with more right now on the set is gina and chuck. chuck watson from savanna. walk us through the damage overall. tell us individually by state. chuck: it is tough to get estimates, that is why we use computer modeling and satellite reports at this stage. florence was another strange hurricane, if it had just been a traditional sto

let's get an update from taylor riggs with first word news. >> china won't devalue its currency to make exports cheaper in the midst of a trade fight with the u.s.. the chinese premier said it would do more harm than good. he spoke hours after china retaliated against the latest tariffs by the trump administration. president trump has praised kim jong-un for agreeing to further steps for giving up nuclear weapons. --kim and lou jm -- fujian -- moon jae-in met. moon will meet with president trump on monday. a potential blockbuster showdown over brett kavanaugh could be in jeopardy. lawyers for the woman who has accused brett kavanaugh of sexually assaulting her set a public senate hearing should be put on hold until the fbi investigates the matter. chuck grassley says there is no need for fbi involvement. day onnews 24 hours a air and on tictoc on twitter our by 2700 journalists and analysts in more than 120 countries. david: thank you so much. let's listen to it. china overnight saying we will not weaponize are currency. thehina will never go down path of stimulating exports by evaluati

thank you so much for that, taylor riggs, in north carolina covering the aftermath of florence. on the dollars future driving the future of editable trade. this is bloomberg. ♪ ♪ shery: welcome back. i am shery ahn. haidi: i am haidi stroud-watts. you are watching daybreak australia. according the u.s. dollar across all currency trade, because it is getting too hard to predict. the california-based munging it -- money manager is [indiscernible] the dollar direction, although it looks like a one-way bet at the moment. >> they are basically neutral on the dollar. they underscored a lot of divided views out there. what they are choosing to do is example short the philippine peso against the dollar. we know it has been one of the worst-performing asian emerging-market currencies, has been caught up in the selloff. what they are also doing is playing the australian dollar against the new zealand dollar. the australian dollar has been under pressure because of domestic factors. there is no chance of an rba interest rate cut anytime soon. franklin templeton believes the new zealand dol

posting a loss of 34% and taylor riggs book tell us what you -- will tell us why. >> it started downe beginning of the quarter and never recovered. report, twitter saw a drop of one million monthly active users and that put pressure on the shares and they said those losses were not going to turn around anytime soon as they continue to fight fake accounts and malicious rhetoric. an analyst talked about smoke and mirrors when it came to their expense reporting. it has been a tough quarter for them but not all bad news because the ipo, since then, shares of 10% from 2013. they need to work on cost-cutting to maintain profitability and daily engagement, live videos, world cup, something they're working on to increase audience engagement. it seems to be working for now. guy: it did not work for tesla. quarter.h a bad how does it compare? >> tesla has been bad since august 6. down 19%. i think off 20% this quarter. other shares that are lower, winn and western digital. facing sometal issues because of demand of the memory chip, a lot of supply putting pressure on prices. doinghough the s&p

taylor riggs, checking in on some of the stocks to pay attention to.at some of the markets we should be paying attention to. 34 minutes roughly until we close out the european markets. it has been a tough day for they, but you haven't seen kind of contagion effect rippling through the rest of europe today. the dow is down a little more than most, but it has been an italian story in europe. ♪ >> 30 minutes left in the trading day in europe. >> this is the close of the european markets. ♪ >> top stories we are covering from the bloomberg and around the world, italian assets tumbled, allowing for a larger budget deficit next year. that decision ripping through global markets today. south african trade balance unexpectedly swinging to a surplus. we will take a closer look at the plan to revitalize the economy. after a day of emotional testimony, the senate judiciary committee moves towards a vote once the court nominee brett kavanaugh, a key republican saying he will vote to confirm the nominee. let's talk about the european markets. get the details for yo