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 countries. i am haslinda amin. this is bloomberg. haidi: president trump has defended his use of tariffs, saying playing hardball is my thing. this follows china's decision to outline an additional $60 billion with retaliatory tariffs. let's get now to beijing. trump is claiming to have the upper hand on china. we have a flurry of data coming out this week in terms of trade numbers. that should give an indication whether it is right or not. china data,eek for and as you say president trump coming out over the weekend with this rally in ohio but also a series of tweets to underscore his view tariffs and the actions

tictoc about a trend that is seeing techies shun silicon valley, opting for the japanese dream. news about the michael cohen and paul manafort double guilty decisions. you can follow those stories on the web, terminal, and bloomberg tv. 20 more to come. this is bloomberg. ♪ -- plenty more to come. this is bloomberg. ♪ haidi: this is "bloomberg markets: asia." -- i amhaad salamat haidi stroud-watts. the closeports after in hong kong its first result since going public last month. the beijing-based smartphone maker wants to evolve into an online service. however, some investors are starting to lose faith. the stock is down 20% below its peak. for a $4 billion consumer health unit in india. the luminary details sent to suitors. interestld there is an vicious from pepsi and others. maker,a colossal loss direct service between chicago and shanghai will end in october. american had planned to hold flights between chicago and beijing. now looking at the biggest intraday gains in two weeks. morgan stanley suspending coverage of tesla after goldman sachs said it was dropping his rating w

for breaking news make sure you are following tictoc on twitter.aidi stroud-watts in sydney. kathleen: you're watching a break australia. let's get a quick check of the business flash headlines. must is the latest carmaker to have take emissions and economy data. they conducted improper test and the ministry of transport will discuss the matter later. automakers were as to review compliance after nissan and subaru also fight data. yamaha and suzuki also conducted improper test. haidi: new york city council dealt a political blow to uber and other companies. a one-year industrywide cap on and given authorities ability to set minimum pay rates. the number of ride hailer's sword from 12,003 years ago to 80,000 today. uber managed to defeat a similar proposal in 2015. kathleen: investors pulled money from bill gross bond fund, reducing assets to the lowest since november 2014. the janice henderson global unders -- unconstrained fund suffered. has piled up year to date losses of 7% attributed in part to a misplaced that that treasuries and german bonds

breaking news wherever you are, we have teamed up with tictoc to lunch -- lunch tictoc bloomberg. make sure you follow tictoc. this is bloomberg. ♪ haidi: this is daybreak asia. kathleen: now for a quick check of the latest is this flash headlines. japanese automakers are falling on new claims about a data. the nikkei news says mazda is the latest to have falsified emissions and economy results. automakers were asked to review compliance after nissan and subaru falsified data. , and suzuki also conducted improper tests. the ministry of transport will discuss the matter later thursday. political dealing a blow to uber and other car for higher industries. it has given authorities permission to set minimum pay rates for drivers. the council acted after a number of ride hailers soared. uber managed to defeat a similar proposal in 2015. investors pulled money from bill gross is on fund, reducing assets to the lowest since 2014. the eye constrained fund suffered more than $200 million in reductions last month. the year to date losses are 7% attributed in part to a misplaced met, and [in

tictoc has tweeted a moment on women's rights in japan. medical university apologize for giving lower grades to female applicants, trying to keep women out. terminal scrubbers are reading about what is topping investor worries, thanks to over "vanishing liquidity." check out those stories, trending on bloomberg online or on the terminal. haidi: coming up, we talk to southeast asia's biggest developer, as they reported second-quarter earnings. the president and ceo joins us next. this is bloomberg. haidi: this is daybreak asia. i am haidi stroud-watts in sydney. ramy: i am ramy inocencio in new york. southeast asia's biggest developer, capitaland, just posted earnings for the second quarter. net income at 605 million singapore dollars after the city tightened property curbs. julia is standing by with the company ceo. takeaway. -- take it away. julia: that is the key question, the singapore property curbs and whether they have done enough. let's get it over to mr. lim. thank you for joining us. you have seen the property curbs start to have

twitter has launched tictoc.toter and talk by bloomberg -- tictoc by bloomberg. ♪ haidi: this is bloomberg markets: asia. going under the knife for the biggest makeover of the year, renewing its makeup line ina bid to attract consumers a pretty crowded marketplace. >> there is competition in any business. what is important is you have to really see what strengths you can leverage. in our case, if you talk to our consumers and our retail they have they say good quality products, good technology for skincare. our makeup products have been understated so far. huge attention was given to skincare and the technology is there for sure. we arere, this time, leveraging our fundamental concept. how can we apply our skincare idea for consumer to make up? by theea was generated team in new york. >> you are investing in a lot of research and development, and marketing, social media. at what might do you expect to start making money? >> it's been three years since restarted this transformation journey. we are growing double d

global news 24 hours a day and on tictoc on twitter.s is bloomberg. >> president trump has contradicted his former fixer and denied using campaign funds as harsh money. he told foxnews he only learned of the payments later on. michael cohen says there is a strong case against the president. list every the evidence is strong that donald trump knew michael cohen would be advancing money on his behalf to hush up the relationships between these two, and it had a political purpose to it. >> let's bring out our political senior entity -- senior editor. the question is where this drama goes from here. >> we have the president saying he did not find out about this later on, and no campaign funds were used. that contradicts what michael cohen said in his plea agreement in court, that hush money was paid to the women in coordination and at the direction of the candidate, meaning then-candidate donald trump. so we have two different sides of the story. lonnie davis is saying his client, michael cohen, is happy to cooperate with the mueller investi

follow tictoc by bloomberg. this is bloomberg. ♪ rishaad: time for battle of the charts.e against one another. you can follow their charts on the bloomberg by using the features at the bottom of your screen. what have you got? >> got a very simple chart. it is a significant one of the chinese yuan. over the past week or so, we saw some stabilization. we saw the pboc say enough is enough after significant declines. that picture changed on friday. we had the turkish crisis take things to a new level. we are in an environment where the yuan started weakening quite rapidly along with its peers. ay that is important, we did survey last week where one out of 20 respondents said they yuan thed crack 7 against dollar. it is a significant level. we have seen key psychological markers in china. people think increased capital -- increased risk and capital outflows and maybe more erect is sponsoring the pboc. that is important for investors to watch. certainly in light of the disappointing rash of numbers we had today. we see more yuan weakness, maybe more stimulus as well. on my cha

on tictoc, china's ban of christopher robin. the cartoon character was used to mock prison at xi jinping. have a look at the stores trending online or on the terminal. ♪ he terminal. ♪ rishaad: this is "bloomberg markets: asia." having a look at the business flash headlines. tesla has had a roller coaster gains,ursday, erasing then recouping in late trade. shares rose on reports the board is to meet next week to discuss the possibility of going private. elon musk has offered no evidence to back up his tweet. we would not comment anyway. on,here is a deal going there is a chance we will be informed or part of the conversation. onhaad: china cracking down the company at the center of a vaccine scandal, freezing shares of the company following the arrest. local security officials have frozen the 18% stake. she and 17 other employees were detained after revelations the company has filed latest vaccine standards since 2014. chinese hospitality provider has confirmed that is buying 51% of radisson hotels. the conglomerate is selling t

on tictoc, how much did the 2008 financial crisis cost every american?stories online on the terminal. there is more on the way. this is bloomberg. ♪ this is bloomberg. ♪ haidi: this is "bloomberg markets: asia." .ishaad: i am rishaad salamat , one year lowser unit is making headway in pay talks. they will attempt to avoid a second strike in two years. copper is often seen as a barometer of economic growth. reportedruggling noble a loss of $128 million in the last quarter, having spent $100 million on restructuring in the first half. able has been in crisis after default, asset sales, and allegations of improper accounting. the rescue plan would hand control to senior creditors and existing shareholders would see their holdings/. rishaad: the singapore state investment firm has completed a sell down of u.s. banks. distancingntly -- itself. it says chinese banks remain a priority. orjuly, it said expense fiscal policy may threaten a recession. haidi: in new york, the first round of 13 filings, a sneak peek into the portfolios of top investors, warren buffe

jump on twitter and follow @tictoc by bloomberg. ♪ rishaad: it is the battle of the charts.nother. off inick things shanghai. what have you got? >> good morning. this chart really explains the renaissance in the global s teel industry. this chart produces half of the world's steel. chunk of green on the right from 2016 is the period in which chinese steel mills have cash, withlot of consequences for the rest of the global steel industry. outrts stopped going from china. that is really important. china is signaling more growth-focused policitees for te second half of the year. we have seen steel prices at five year highs. that chunk of green i pointed to is going to extend a bit. that will be important for the rest of the steel industry. interestings an one. dan? no doubt yours has something to do with energy. what have you got? dan: my chart is a little bit complicated. it tells that important story no one is talking about in the oil market. independent refiners three years ago -- the government gave them permission to go into the global market. they want gangbusters. they h

let's get to the headlines with global news 24 hours a day, on air and at tictoc on twitter, poweredhan 2700 journalists and analysts in more than 120 countries. let's get to headlines with "first word" news and mark crumpton. mark: turkish headlines have the country on a full-blown meltdown. president trump has vented his anger that turkey refuses to detainedt attained-- a anchor. u.s. trade ministry says that the duties break rules. president erdogan urged turks to buy the currency with gold and foreign exchange. declining toted by another record low. former female employees have suited 90 for sex discrimination. sued nike for sex discrimination. the suit claims they were passed over for promotions and pay less than their male counterparts. they're calling for unspecified monetary damages and a court order requiring nike to pay employees fairly without regard to gender. nike has not commented. in southern france, heavy rains have transformed rivers and streams into torrents. local officials say 1600 people were evacuated in the region, many of them from campsites. the french interi

this is bloomberg. ♪ ♪ shery: that is one of our highlights from tictoc streaming on twitter.this is "bloomberg markets." shery: earnings season almost at an end. let's break it down because i know today we are feeling the pressure at the moment. what are analysts saying? romaine: we are basically at about record eps growth than we have ever seen on the s&p 500 and what is so interesting, there has been talk about peak earnings and peak growth. analysts are raising their forecast for the rest of 2014 -- 2018 and into 2019. there is this sense, this enthusiasm and optimism this corporate earnings machine still has a little bit more growth left. shery: and the fact remains that there haven't been many markets that have been the performance -- beaten the performance in the u.s. romaine: when you look at the stoxx 600 in europe, they are at .bout 6% growth it is nothing compared to what you are seeing in the u.s. and it has been sort of this premium we see being put on u.s. stocks primarily because what has been happening this earnings season. people are paying about a 25% more pr

global news 24 hours a day on air and on tictoc i twitter. tictoc on twitter. line. -- i'm kailey leinz. is --: joining us thank you for joining us. i am sure it will be a very bittersweet week for you. >> well, it is. -- youw, these things know these things are coming. we knew this day was inevitable, but you know, there is some finality when it happens. and you know, that is the negative side. the positive side is, personally for john, it was time. you know? he is a real warrior and a restless warrior. this is tough. this battle was a tough one. he fought it hard, but when he got to the end, i think it was time. and then on the other positive side, this worldwide outpouring of support and recognition of what a phenomenal like john mccain led. it is really gratifying. vonnie: you were with him at the very beginning early on in his career in politics. after all of this time, what do you think the senator one of most for the u.s. political process after his process, given how everything has evolved over the last administrations. >> i think he made clear in the l

that was the tictoc on twitter. we will have more on the legal challenges at the moment. turn a mark crumpton. trump escalated his feud with jeff sessions today in a tweet. the justice department will not be improperly influenced by politics. the president tweeted, "jeff, this is great so look into the corruption on the other side." israel is criticizing the european union over its financial support package to iran. side balticng leaders, benjamin netanyahu called it a big mistake and a poison pill to the iranian people. the eu announced it was getting aid.21 million in hurricane lane is getting weaker. the storm has been downgraded to a category 2 as it approaches hawaii. officials say to still unclear exactly how close the storm will come to the hawaiian islands. lane has been lashing the big island with strong winds and heavy rains. and wisconsin, this week's flooding has cost more than $100 million in damage. lorraine -- more rain is in the forecast this weekend. more than 11 inches fell on monday and tuesday. the severe weather washed out roads and cost at least one

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 countries. -- >> 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 countries. this is bloomberg. the attorney for president trump's former lawyer trump's organization that initiated the idea of hush money for two women. >> strong evidence. i think it is conclusive. that michaelknew cohen would be advancing money on his behalf to hush up the relationships with these two women. it had a political purpose to it. yvonne: in an interview, the president said he only learned of this after the payments were made. trump: later on i knew. they were not taken out of campaign finance. that is a much bigger thing. did they come out of the campaign? no, they did not come out of the campaign. let's get to our editor from washington. it is difficult to figure out who to believe here. out, the lawyer pointed there is some suggestion that federal prosecutors have additional evidence besides coheel c

jump on twitter and follow tictoc.>> the singapore is trading at the policy banf even though the central bank tightened monetary policy earlier this year. it was very a -- very gradual the tightening. people do not think that this is sufficient because inflation continue to reach for your highs. a good chance that the central bank will need to tighten again. what you have? -- what do you have? exuberance is back in a big way. big spending going on. early microsoft employees brought in a rally just under 50 million u.s. dollars. that is more than 25% above the previous record. that is from four years ago. it is not bad for the previous year considering it was better than the past decade. more than tripling in price compared to about 150% rise of the s&p 500. in saying that, there was a bit -- valuation in markets. anp capital. one should be a bit cautious. given a backdrop that you are enduring at the moment, it is understandable. the economy is in a trade war and they are -- there is this economy and they are in the tr

get on twitter and follow tictoc there.♪ rishaad: it is the battle of the charts. our asia tech reporter and fx rates reporter giving their best shot against one another. you can access what they do show to us on the bloomberg terminal by running the function on the bottom of your screen. first up. >> basically, i wanted to show a chart that highlights the key concerns for investors in jd.com and alibaba. a startup that came from nowhere has seen its annual active buyers skyrocket. it has already take -- overtaken jd.com and on track catch up to alibaba. there are plenty of fake goods on the site and the amount of 'sney being paid per customer pennies compared to j.d. and alibaba. but as you can see from the chart and stat, at the end of the day, chinese consumers are really willing to try something new and different. that is potentially very bad news for both jd.com and alibaba, and other established e-commerce providers. haidi: very strong. let's get to the sydney contender. dollar-turkisha lira chart going back to the st

on tictoc we have a feature on generous and -- generation z.ries trending on bloomberg online. the biotech company reported a 61% jump in revenue for the first half of $153 million. it is a dominant force in the outsourcing market with almost six times the market share on its next closest competitor. joining us is the ceo chris chen. always great to have you. this company has been able to deliver. you're talking about 70% revenue growth. how sustainable is this? >> it is great to be here. it is my first time in hong kong. biotech is an incredibly fast-growing industry. yvonne: is there a topline growth that is reasonable to you in the next three or five years? we have seen incredible results. we have been saying that we wanted to grow 50% and continue to grow 50% in the next coming years. yvonne: venture capital falling into the space as well. allowing for these biotech companies on the exchange. how much has that benefited wuxi overall? >> when company is risks money, they go with us. they work with us. it is better than what they are doing in

jump on twitter and make sure you are following tictoc.loomberg. ♪ his is bloomberg. ♪ haidi: time for our battle of the charts segment. our southeast asia economics reporter joins us, competing against the asia metals and mining reporter martin ritchie, pitting their best against each other. you can play along at home on the bloomberg. let's kick things off. what i charted here are two sub indexes of producer surveys out of the u.s. and china. on the u.s. side, the isn new exports gauge, and on its counterpart from china. these are the monthly surveys of producers and how they feel about the export picture. we see that over the longer-term that they tracked decently, but over the past two years chinese and the u.s. down gradual recovery caused it to divert. in 2018, i amar watching how they have both turned down, and especially last month as each country applied tariffs on $34 billion worth of ingoods, and they saw a sharp decline. next week we have august figures for both of the index figures. i will be watching whether we see some of th

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. you can find more stories on the bloomberg at top . we are seeing mixed movement coming through in these asian markets. you are seeing an upside coming through in hong kong's hang seng index, rising up .7%. weakness coming through in the nikkei. yuan has studied. negotiations set to resume in focus. gdp numbers for the second quarter came in slightly better than expected. let's have a look at some of the stocks we have been watching. isaustralia, woolworths seeing its shares up one point. it blamed the single use plastic bag ban on some of its four-year earnings, which missed the estimate. japan coming under pressure, but they closed significantly higher on friday following a tender offer to take majority control of the company. upgrades ahead of the result tomorrow. .ay bank upgrading the stock it's expected to come through with pretty good numbers considering we are starting to see this love affair for premium beer coming through in china. an

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 countries. this is bloomberg. look at ae talks breakthrough. they have reached an agreement. let's go to the bloomberg editor ros. does this look like a real breakthrough? >> there has certainly been a lot of to and fro. it sounds like they can be real progress. continue at the office in washington. almost to the point where the two sides are measuring the podium, dusting off the podium and ready to come out to make an announcement. we do not know when that will happen. as agreement could be signed soon as tomorrow or monday. just what kind of announcement will be made, this is a bilateral deal between u.s. and mexico that paves the way to finalize the trilateral deal. a few things that we do not really know that could become clear over the next 24 hours, there was a telling tweet from donald trump that praised the way to size of the mexican government, incoming and outgoing, have been working together. anything that happens with the u.s. with trade deals and

check us out, and follow our breaking news on twitter at tictoc. this is bloomberg. ♪ retail.e like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi hotspots. and it can be included with your internet. which could save you hundreds of dollars a year. plus, get $150 dollars when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. ♪ nejra: the lx desk outlooks for bracing forin reg. brexit. what fin

this is bloomberg. ♪ scarlet: that is some of our reporting from tictoc.world headquarters in new york, this is "bloomberg markets." caroline: here is mark crumpton. mark: a watchdog says the trump administration needs to step up management for the sign-up. periods under the health care law. the government accountability office found problems with consumer counseling and advertising, and recommend a basic things such as setting and roman targets. it did credit and meditation actions that did help the people in role, such as a more reliable website and reduced call-center wait times. and a former governor contractor who pleaded guilty to mailing a classified u.s. report to a news organization was sentenced to more than five years in prison today. reality winner, who worked at the national security agency's office, admitted printing the report and leaving the building with it in her clothing. it is the longest sentence ever imposed for a federal crime involving leaks to the media. and education secretary betsy devos is considering allowing states to use fede

global news, 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm kailey leinz. this is bloomberg. ♪ shery ahn: live from bloomberg world headquarters. >> i'm in for amanda lang could welcome to bloomberg markets to where joined by bloomberg audiences. shery: here are the top stories we are following from around the world. escalating trade tensions, president trump compares europe to china when it comes to trade practices and says the eu offer on auto was not good enough. running out of time. prime minister trudeau says no nafta deal is better than a bad one. stubborn differences remain between the u.s. and canada. ugly august for emerging markets. developing economies get punished this month. will september be better? with breaking news. we are now hearing paul manafort former associate sam patten is announcing -- is now saying foreign money was paid to the inaugural committee. mr. patton also admitting to charges in a plea agreement filed in court. this relates to the investigation into mr. manafort's conviction

global news 24 hours a day on air and on tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. rishaad: ok come we can get over to the hong kong exchange. we have our correspondent on the ground, sophie kamaruddin. a bitmpanies, beigene later on. coming on,na tower proving to be the least popular among retail investors in hong kong. it is a state own wireless raisingucture company, $6.9 billion in the share sale but starts in 20 minutes from now. individual investors placing orders for 1.36 times the retail portion, the lowest subscription ratio for any hong kong ipo about $3 billion. that is all data going back to 1999. beigene coming on the market as stock offering. the company already trades in new york. it has raised $903 million. at the moment toasting before they banged the gong to mark their debut on the hong kong stock exchange. company,s a biotech selling 65 .5 million shares at 108 hong kong dollars apiece, the final price representing a 1.6% discount to the last close in new york. there we go. those two coming on. we should be the

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 countries. this is bloomberg. yvonne: president trump is warning of far bigger than ever military joint exercises with korea and japan if the talk stalls. suggesting that china is getting in the way of progress. i do not -- >> i do not like to call it a trade war. i think china makes it more difficult in terms of our relationship with north korea. let's bring in greg sullivan with the latest. we usually hear these kinds of comments from the president when trade tensions are high with china. what is the significance of linking china and south korea this time around? has linked china and south korea with north korea issue. the u.s. has failed to show progress. what is interesting is that instead of placing the blame on frustrated, they are by influence. trying to bring north korea to the table. some of that frustration could be coming into play. either way, it is clear he is frustrated with the pace of progress. president trump suspended these efforts since jun

on tictoc, hong kong has a talent wishlist. expert in waste treatment, the city once you. on the terminal, users are reading all about the oracle of omaha. warren buffett already adding to his stake in apple. that is number three. he says the iphone is enormously underpriced for all the things it offers. you can check out those stories trending on bloomberg online or on the terminal. laptops and gear maker razer expects revenue growth to accelerate as it invest in phones and online payments. joining us for an exclusive interview is the cofounder and ceo, min-liang tan. thank you for joining us. it seems like revenues certainly outperformed here given that you've been spending so heavily in launching this new phone, as well as a virtual currency. your net losses as well are rising. how should we take away from the first half? min-liang: we've had some really strong growth year on year. over and above, what is more important is that prophet has been rising quite a bit. corresponding margins have been rising at the same time. that

day onal news 24 hours a air and at tictoc on twitter. this is bloomberg. a big dayit could be for tencent for better or for worse. the chinese tech giant reports earnings and we could see the biggest stock move since 2015. a first half where the company has lost more than 150 -- one fd -- $150 million in value. is bloomberg's asian text editor. tencent another companies in trouble? >> it happened earlier this week taketencent was forced to a game called monster hunter office download list which sparked a selloff. -- called monster hunter off its download list which sparked a selloff. this coincides with a by thedation of power president. there's been a reluctance to allow games to go out that have graphic violence and other sensitive topics. that has put the brakes on approvals and once we discovered the cat was out of the bag and we are going to see that reflected in some of the numbers possibly coming out although really the full impact is going to become clearer when we get subsequent earnings results. francine: will we see any financial impact? have we

let's see what is trending on tictoc.fering from buyers .morse be trying too regain star wars tv rights. u.s. commerce secretary wilbur ross signals there's more tariff pain ahead. china has just lost its ranking as the number two stock market. stephanie cohen has been named to goldman's elite management. inflation quickening less than expected in the turkish lira. so, definitely keeping pressure on the central bank to tighten policy. the lira hitting fresh record lows as investors remain on it over washington's decision to sanction two turkish moller-maersk best turkish ministers. -- turkish ministers. still with us, alberto gallo of iotakis ofand themos f ubs. >> i think the market will always speculate about these things quite intensely. i had to say the first line of defense to the clintons to be the central bank communication. we have seen that in -- defense tends to be the central bank communication. we have seen that help a number of currencies to stabilize. obviously the risks in turkey are high and very volatile.

global news on air, 24 hours a day and at tictoc on twitter, powered by more than 2700 journalists andnalysts in over 120 countries. you can find more stories on the bloomberg @tocgo. manus: thank you. alternative structures are expected to be offered to investors from a swiss fund manager. make its expects to first payment in early september. 74-80% toeturn luxembourg. 60%-66% of to return payments. they have been in the headlines over the past couple of weeks. of relief on the mexico-u.s. steel. -- deal. what does this mean for markets? david, good morning. david: it is another reason to be embracing risk trade. gains across the asia-pacific are nowhere near the levels of yesterday. seven out of the last eight sessions we have seen gains. we are coming off our highs of the day. we are very close to session lows. two-year yields coming within two basis points of the tender high. -- ten-year high. to dollarading strength and reversing currencies across the asia-pacific. seven out of the 10 industry groups in this group are on their way up. 70%-80% ofate to blue chips heading higher. ma

global news, 24 hours a day, on air and@tictoc on twitter -- and act tictoc on twitter.jessica summers. this is bloomberg. ramy: we have breaking news across the bloomberg terminal. carl icahn says he no longer tends to vote against the cigna deal. this relates to sigmas $54 $54 billion.gna's an advisory firm urged shareholders to support that deal. a quote here. he says in light of the recommendations, we have informed the fcc that we no longer intends to solicit proxies to vote against that transaction. breaking, carl icahn says he is no longer intending to vote against the cigna deal. let's move along to one of our other top stories today, and that is focusing in on tesla. investors remaining divided on the companies privatization push after elon musk confirmed a bloomberg report that his claim of funding secured was based on discussions with the saudi sovereign must fund -- sovereign fund. no question that a deal with the pi have could be closed. this go to bloomberg news executive editor for technology, tom giles, in san francisco. this change anything with the fcc

global news on air, 24 hours a day and at tictoc on twitter, powered by more than 2700 journalists andin over 120 countries. this is bloomberg. thank you. argentina took emergency steps, raising rates by 5%. they have the highest rates in the world. the market is focused on turkey. the ceo of a capital company, joining us on the phone from vermont. scale of we in the concern for you? how would you describe the turkish situation at the moment? i think mobius put a finger on the problem. turkey has been mismanaging their economy for a while. has spent more time consolidating political control than thinking about the economic welfare of the population. there has been these distortions. have this standoff between the united states and turkey -- we could have a very ifrp u-turn in the markets awayan decides to give politically in this crisis. solve the real problems underneath and that will take a bit more work. it is difficult to predict where we are. we could be at the beginning of a long erosion in turkey. journal" called for ousting turkey from nato. or this could be something where erd

if you on twitter, he sure to follow tictoc. >> this is daybreak asia.latest business flash headlines. -- they are targeting 20% sales to around $11 billion. shares have soared, but the ceo says it is vital to attract new customers. how we are going to approach is project innovation. we should be having a younger generation of users. >> the digital tennant company square they'll after falling short of expectations. $.46.ts were expecting square has almost doubled this year increasing competition from pay paul -- paypal to others. they raisedys output by selling one of the models. look at how quick the markets are trading. it seems to be a done deal, possibly from traders. china is certainly the one to the tradeding 2% on concerns. president trump considering 25% tariffs. at asia futures, we see it is mixed, up nearly half a percent. >> 12 basis points for japan, that is it for us on daybreak asia. 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

check us out, and follow our global breaking news network on twitter @tictoc.loomberg. ♪ ♪ taylor: welcome to "bloomberg businessweek." julie: and i am julie hyman. taylor: this week, we are focused on that hospitality merger and the fight over loyalty points. julie: yes, a very loyal customers on both sides. we are also looking at the issue of key men risks. taylor: that is when one company is reliant on one ceo. julie: sometimes to the company's detriment.

on tictoc, why they say taking a plane is easier than stealing a car.ead stories trending on the terminal. this is bloomberg. ♪ mberg. ♪ yvonne: we are counting down to the market open in japan, south korea and australia. the big focus is going to be on turkey once again going into the full-blown crisis. we will look at potential fallout. seems like for now asia, the meltdown, relatively contained. we heard from regulators they will be stepping in and imposing [indiscernible] we saw the lira pare back losses. we are set up for a choppy session. s&p futures, the nikkei down. s&p futures also on the low. the fx has taken the brunt of this. see more pain to come or some relief when it comes to p.m.. we have -- to em. we have a reporter to join us on that. also talking about last week. what was achieved with [indiscernible] did not say sga, but where do negotiations go from here? the market open coming up. this is bloomberg. ♪ ♪ 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

golan's 24 hours a day on air and at tictoc on twitter. by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. is the longest bull market on record and it continues to roll. with the s&p 500, the nasdaq -- during his speech and jackson hole wyoming, the fed chairman says there is good reason to expect the best rock performance will continue. room to run from the small caps to the big cuts they are all hitting high. >> this is very much reflective of what we are seeing in the u.s. economy. we got the strong gdp number of 40 -- four point 1%. we are seeing strong retail sales and strong consumer confidence. small business optimism near all-time highs. unemployment near all-time lows. while we are creeping up, it is not yet run away from us in any way. these markets reflect that strength and the decoupling of the u.s. globally. >> i want to pick up on that last like. when you look at the decoupling of the u.s. from the rest of the world, we have a chart that looks at that. together, but since f

global news 24 hours a day and at tictoc on twitter.owered by journalists and analysts in more than 120 countries. i'm juliette saly. back to ourt's get top story, donald trump's terrible tuesday. he suffered perhaps his worst day in office as his former personal lawyer implicated him in a crime and his acts campaign chairman became a convicted felon. michael cohen pleaded guilty to charges related to hush payments that violated campaign loss. he says the orders came from an unnamed candidate. later, paul manafort was found guilty on eight counts of tax and banking fraud. pumped spoke to reporters after manafort's conviction. spoke to- trump reporters after manafort's conviction. do withhas nothing to russian collusion, it's a witchhunt at a disgrace. they started out looking for -- russians in our campaign and there were none. what does this mean for trump's remaining time in office? kathleen hunter joins us. alan katz is in paris and on the phone, peter trubowitz, a professor at london school of economics & political science. how bad

global news, 24 hours a day, on air and at tictoc on twitter powered by more than 2700 journalists andsts in more than 120 countries. i'm jenna dagenhart. this is bloomberg. so very: thank you much. we have breaking news on the taiwanese carrier china airlines missing by a mile. second quarter net income coming in at $63.4 million, estimated at 878 million operating in million -- 772.2, one point 2 billion. coming in a little better than the billion -- than the estimate. something not so good for them in the latest quarter. haidi: and this is a carrier in addition to battling -- the standard issues like oil prices as well as these trade tariffs and how it will impact tourism given that we have crossed tensions. it hasn't moved very much. we can take a look at it on the one year basis. we are counting down to trading across the asia-pacific this friday. continuing to be the case in this right trading day here in asia. >> going into the friday session we have the turkish era. currenciessure for and that could lead into stocks as well. we may see more pain and volatility for emerging stoc

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 countries. this is bloomberg. ramy: still ahead, we will be heading back where christian for joins our lineup. forbes joins our lineup. yvonne: we will look at how the trade tensions are affecting india where the former governor -- with the former governor. ♪ yvonne: this is "daybreak: asia." let's head back again. global economics editor is there for us along with former r.b.i. governor. he was the governor of the reserve bank of india from 2013 to 2016. athas long been a professor the school of business in chicago. he was the director of research for the monetary fund and he is another part -- that trend -- veteran. he presented one of the lead in. he argued that they are buildup to such a degree that there could be some kind of breakdown. there will be big problems in the u.s. financial market. he was dismissed. they said it was a misguided idea, yet three beers later -- three years later, we were in the middle of one of the worst economic crisis. we did a

on tictoc, the beverage giant behind corona is making a $3.8 billion bet on cannabis.rand is increasing its stake on the canadian grower to 38%. in business week, southwest england voted in favor of leaving the eu, but now the town, home to 4000 strong a jpmorgan back offices is starting to dreaded brexit. and our most read stories right here. in third place, tesla is set to receive a subpoena on mosques tweets -- musk's tweets. top, commodities have recovered some poise after wednesday's lunch -- plunge. let's get straight to first word news in new york city. high, francine. italy's prime minister says they will start the procedure to revoke the license of highway operators in the wake of a fatal bridge class in genoa. he said they cannot wait for the outcome of a probe and subsequent trial. that is after the death toll has risen to 39, amidst fears the number of fatalities could rise further. news, 24 hours a day, powered by more than 2700 journalists and analysts in 120 countries. this is bloomberg. francine: thank you so much. commodities are recovering some losses

global news, 24 hours a day, and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . looking pretty positive. yet the nikkei high. as anna was alluding to it as the rally of seeing chinese and hong kong markets particularly large cap stocks by 1%. the earnings season has been quite positive for chinese equities. having a look at the asx 200 down by about --no surprise. but stick a look at some of the stocks we are watching in detail in the asian session. tokyo, has jumped the most since november. now that this report could flow about a third of its company worth around $30 billion in an ipo that would be the world's largest ever ipo. also seeing some upside coming through in chinese development sucks today on the back of very strong earnings listed in hong kong. thatownside is a company leases in australia pulling down by 45%, the most on record, target was cut. quite a big fault but it is small. manus: thank you. commerzbank, they delivered their numbers. in the lusty minutes, read he

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 countries. i am jessica summers. this is bloomberg. yvonne: thank you. we are waiting to hear more comments from president trump in west virginia. we are going to focus a little bit more on earnings as well. a closer look at paying on when we read -- pang on. who seesnext, a bull no reason for wall street to hit those breaks. we watched jason thomas where he sees market movers. this is bloomberg. ♪ yvonne: this is "daybreak asia." i am yvonne man in hong kong. ramy: i am ramy inocencio in new york. you are watching live pictures of donald trump in west virginia, talking about right now about steel tariffs making the industry when of "the hottest." we are looking for lying to see if he will be talking about what's happening over the past few hours with two men from his inner circle, michael: and paul as michael cohen as well paul manafort. you can watch it on your bloomberg terminal, mliv . we will get you headlines as they come from donald trump campaign

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 countries. you can find more stories on the bloomberg at top . mark kieran asia, seeing a little bit of turnaround coming through in the chinese markets. it seems like a strong signal sent from china with these trade albeit at a lower level. and the yuan higher against the dollar. the nikkei still under little pressure in late trade but up from lows of the day. this check in on tencent because it is the big stop -- big stock after came through with its first loss in decades. , cloudingd 3% uncertainty but still 55 on the stock. before your profit drop, down by 9%, but better than what the market was looking for. and we been closely as closely watching the strike action in chile. bhpmain copper mine -- trading to that backward trend of what you saw in the contract yesterday. you very much, juliette saly with the latest round up on the markets. and the trade standout between china and the u.s., could finally be coming to a close? low-level talks are set to

global news on-air and on tictoc on twitter powered by 2700 journalists and analysts in 100 20 countries. i'm mark crumpton. this is bloomberg. scarlet: live in new york, i'm scarlet. joe: i'm joe weisenthal scarlet: . 30 minutes from the close of trading. you are looking at gains for the u.s. market, heading for the sixth straight week of gains. scarlet: what you miss? lisa: the rebound not lasting. president trump lashing out at an appeals court refusing to release american pastor. the tug-of-war between transparent and the regulation. president trump looking into reporting requirements for publicly traded companies. the sec says it is continuing to consider the requirements. an elon musk's tweets saga takes another turn. he says no one reviewed his on hisnd got candid views of sleep medication. we have some breaking news on trade. the u.s. said to be dropping its demands on mexico farm exports. the u.s. and mexico have narrow differences on nafta farm trade as well. you look at the mexican peso it is strengthening to session highs. the u.s. dollar falling in value. per dollar. this la

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 countries. this is bloomberg. ramy: to another of our top stories, that is turkey. the country facing the threat of additional sanctions with steve mnuchin warning of more punishment unless the american -- is released. now?else are they planning it looks like we will correct that audio and get him back to you. let's go to break right now. looking ahead, we will ask in energy portfolio manager why he sees oil prices volatile for the rest of the year. how investors can cash in. ofnext, the diverging paths u.s. and chinese tech. where investors should put their money. this is bloomberg. ♪ tec: it is the tale of two hs. the forward price valuations of chinese tech versus u.s. tech in the blue. valuations slipped to a six-year low versus the u.s.. it rattled investors from hong kong all the way to wall street. let's bring in all over -- all over. we just -- oliver. >> still elevated. it is a stock pickers market. people have been saying that for the past the best

this is bloomberg. ♪ lisa: some of her reporting by tictoc streaming live on twitter.nnabis these days. this is "bloomberg markets." caroline: in the latest episode of studio 1.0, emily chang cut up with the ceo of the popular messaging app, slap. they covered a range of topics, including growth potential. >> the market is way bigger than we thought. china, maybe 2 million people in the world who will be using this or something like it. we do not necessarily win, that the advantages are so big that everybody will eventually switch and we have at 100,000 plus using it every day. dentist'sare also offices and a small tax preparers, police departments using it, the norwegian department of labor and welfare uses it, almost every academic lab here in san francisco uses it. the federal government uses it. like, the range of utility is way greater than we thought when we first got started. >> you have raised hundreds of millions of dollars, and in the past you said it was easy money and you did not need it. is it that easy to raise now, or have economic conditions changed? >>

global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists andnalysts in more than 120 countries. i am jenna dagenhart. this is bloomberg. haidi: thanks for that. mark carney will not rule out raising interest rates before he leaves the bank of england next june though he and i both -- he acknowledges brexit could change everything. kathleen hays here with more on the boe rate hike. what about brexit? the brexit torpedoes, full speed ahead. this rate hike was expected. one thing unexpected, unanimous vote, the whole monetary policy committee on board with this. in the face of all the uncertainty, why is mark carney, why is his team determined to move rates higher? let's go to the library and look at one of our charts. you will see the bank of england's key rate on the bottom. it has been moved it has been moved down to 0.75%. the goal line is headline inflation. look how much it has come down, 2.4%. the core rate is below 2% but for the bank of england, this is too much inflation, too much chance. if they let it stay high, it will create inflatio

day, onews, 24 hours a air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. you can find more stories on the bloomberg at top . a great start to the trading week in asia. we have those fresh highs from wall street and jay powell reiterating at jackson hole that the pace of tightening in the u.s. will be slow and gradual. you have hong kong's hang seng leading gains up by 2%. very strong moves coming through in large-cap stocks in china. we have been watching that move in the yuan. the nikkei looking very strong in late trade, up by 1%. let's have a look at stocks we are watching. throughoil giant coming with its first-half numbers, a record. interestingly, the dividend boost has caught analyst attention. it lifted its dividend by 60% amid gains in refining earnings. after the lunch break, up by almost 5%. good gains from the airlines as well. china's airlines mainly earn their revenue in you on terms. to the downside, we just mentioned mike pompeo's trip to north korea being canceled. you are seeing the so-called peace talks in