francine lacqua london, i'm tom keene in new york.verage on international economics with the finance minister of zimbabwe. his name is mthuli ncube and he begins -- and he brings economics from oxford and cambridge to us. you know statistics and volatility and you lived it with your currency. do you have a currency in control? moment, ncube: at the we have a currency regime dependent on the dollar. a domestice back to currency but that will require consolidation and manage policy a terms of holding pollux -- building blocks and engaging partners. tom: argentina is not zimbabwe. whopoke with johns hopkins have been critical of the regime and how your moving toward a quai-currency. argentina, the zimbabwe lesson? country ncube: every needs a stable currency, a currency investors can rely on. the experience has been building toward a stable currency to be issued in the future. argentina has been impacted by the oil and emerging-market volatility. south africa has been impacted. you have different factors impacting these global emerging m

tom keene has the day off.ng the groundwork for a future away from alibaba, the company which made him china's richest man. he outlined plans to educate more of his time and fortune to philanthropy with the creation of a foundation focused on education, following in the footsteps of bill gates. >> what are the most pressing issues that philanthropists should be focusing on now? >> i do a lot on education. i think education is critical for the future. education, environment, these are things i focus on. there is no one thing that is the most important. the most important is everybody do something. >> to what extent do you think your identity has been forged by your first job, which is as an english teacher? >> people do not like me to talk a lot because i speak in all the forums because i am a teacher. the only thing i can do is share. alibaba, so much from from the journey. it is my responsibility to share, whether people like it or not, agree or disagree, it is ok. you have to share because society give us, gi

tom keene joins me out of new york.r with our interview from the chief executive of ubs. we look at emerging markets. stocks are pretty much mixed. fearsare fears the traded could return to the markets. investors tried to figure out what the latest american threats to expand tariffs on chinese goods actually mean for their investment. dollar is falling after friday's gains. the other story we are watching out for is the storm damage of hong kong added to the gloomy outlook. this is as we continue figuring out exactly what the storm means. we're looking at the clinic of hurricane florence -- cleanup of hurricane florence in the typhoon over in the philippines and china. tens of thousands of people have evacuated their homes in the philippines. there was also a landslide in this part of the philippines. we will discuss that next. this is bloomberg. ♪ trade.e: taking on chinese it stocks drop as president trump is set to trigger fresh tariffs. is the worse over 4 a.m. currency selloff? -- em currency selloff? pressure, the

francine lacqua and tom keene. here is taylor riggs.fourth straight title. has been fined $17,000 for a rules violation during her controversial loss to naomi osaka. she was penalized for verbal abuse of the chair umpire being warned of coaching and breaking her racket. les moonves is being forced out of office after two decades of running the network. foras being investigated allegations of sexual harassment when new claims were reported. he will be replaced by chief operating officer, joseph e and yellow. -- joseph ianniello. cbs has ended a legal fight with its largest shareholder, redstone amusements. six board members will step down. an inconclusive election in sweden has left the country without a candidate to form a government. that could mean months of gridlock. stefan lofven has presided over an upswing that has led to a rise in unemployment. swedes are concerned about a record influx of immigrants. president trump is taking credit for what he called a positive statement from north korea. nearly half of the military parade was

in london.e lacqua tom keene with a day off.10 years since the collapse of lehman brothers. moec.get back to gilles when you look at lehman brothers, do we worry too much about the things that sparked the financial crisis which means we over regulate and we are stuck in what happened or have we forgotten too soon about the dangers? in a bankyone working right now still considers that things have changed and the way we have been operating has completely changed. i do not think it is going away. francine: that is a good thing or a bad thing? gilles: it is good. the regulatory pressure came up levelse worst and the had to be push, the behavior had to be change. this is positive developments. we have been concentrating on banks for the last 10 years and my guess is regulators are starting to look elsewhere because a lot has been done already. they regulate enough to prevent the next financial crisis? what was the financial crisis, swan?t a gray what does this tells us about the next financial crisis? gilles: it was classic. neglecte

i'm tom keene. let's get to taylor riggs.is on the verge of tearing into the carolina coast. florence is about to make landfall in wilmington, north carolina. top winds are at 90 miles per hour. it is the life-threatening storm surge which has authorities worried. they wall of water could reach 11 feet high. the wall of rain will cause flooding throughout the carolinas. coming up, we will discuss florence's impact on power companies. we will speak with duke energy president david fountain. that is that a: 10 new york time. -- at a: 10 new york time. a typhoon is that to make landfall in the philippines. this storm has a maximum wind of 173 miles per hour and it may hit hong kong sunday. mark carney has warned a no deal brexit would lead to a interest rate increase. he joined the cabinet meeting yesterday to outline the planning for a turbulent exit from the european union. leaving without an agreement would lead to a fall in the pound and higher tariffs. the richest person in the world says it is dangerous to vilify the news

tom keene joins us now. tom: it is always a special moment to speak to glenn hubbard of columbia business school. columbia has become far more visible. , wonderful to have you with us. i want to talk about your school, your criticism and acute comments on tariffs, but first any to talk to about the certitude of supply-side economics. you have always been a growth optimist. lawrence kudlow at the economic hub of new york made it very clear that we are on a path where growth will pay for these new $1 trillion deficits. do you agree or is there too much confidence within the trump administration over the efficacy of supplies economics -- supply-side economics? >> i think there are two parts to the question. i do think we are seeing a pickup in growth. we are seeing wage growth rebound. we will see the possibility of close to 3% growth over the medium run. tax cuts don't pay for themselves. growth helps. it is a big part of the story, but it will not be the whole story. tom: within that, there is a lower economic

tom: guy johnson in london and i'm tom keene in new york.with stephanie baker, bloomberg senior writer. we could go to hours on what's going on in washington with the back-and-forth. has nothington post" one but two columns on bob woodward on the front page with his new book. woodward ony of bob presidential gossip and conversation and the timeline. at the same time, we've got may mueller here and there. your expertise is on the process that gets the special counsel/ do you as. do you expect something from mueller soon? we had reports overnight that mueller is looking to get in written answers to questions on the whole issue of russian collusion , but he has not ruled out pushing ahead for a sit down interview with trump on the whole issue of obstruction of justice. i think this is his attempt to keep front talking and move the investigation on and avoid a lengthy battle that could drag on well into next year. for the moment come i doubt we will see anything huge until the midterms. tom: i thought of you as well. would you explain why a spec

be doing the first hour of surveillance and i will be doing the second hour with tom keene.e talking to this man, trade and other things. that's coming up. ♪ xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. on the go and want 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. matt: the rand hits its lowest point in two years as south africa's

francine lacqua and tom keene in new york. she misses london. ♪ tom: fifth avenue in manhattan is closed. it is united nations week. america and china are united, beginning a trade war. the president will speak tomorrow. 43 days until the election in washington. they're consumed by all things kavanaugh. this 2018 of golf ends with an emotional walk to the 18th hole. good morning. we are live from our world headquarters in london. francine lacqua is here for a week and one of the highlights, the bloomberg global forum. a visit from the prime minister. moreine: she is no beleaguered then she was last friday. u.k. an may give the easier time and then they said, no way, we do not like the proposal. do you remember the instagram we showed on air, that upset the u.k. where he was making a joke about cherry picking. those on radio, the tone of her voice. francine: she was firm, telling the e.u. not to mess with her. brexit probe exit -- pro politicians launching a counteroffensive. tom: this is lost in translation for americans. we try to analyze it an

i am francine lacqua here in new york with tom keene. g about jay powell and donald trump. italy is circling back. tom: with the interviews we have done, it is amazing how people circle back to italy. it is about europe and international stability. francine: it is sticking to the roles are not, reactions to that report, we will have all your market action shortly. let's get to the first word news. here is taylor riggs. >> on capitol 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 sp

i am tom keene. am focused ona, i your financial panel.g chief sachs,ve of goldman creditxecutive of suisse as well. maybe blockchain? the international aspect. what one guest has to say is timely. francine: reforms, europe, probably striking an optimistic tone. i am looking for to hearing from theresa may. she has become more defiant. the question is do you really want to cut taxes for corporations? tom: fÊte day, 2:00 p.m. this is a live meeting. some important perspective. a news update, taylor riggs. president trump at the 90 nations today, where he will chair a meeting on nuclear proliferation, giving him another opportunity to blast i ran, as he did in a speech to the general assembly. the battle over syria's future has shifted to the united nations. the u.s. and russia are both seeking u.n. approval. foreign ministers meet today. russia wants to help rebuild syria. the u.s. insists there should be a political transition away from president bashar al-assad. has a plan to make the u.k. a post-brexit economic powerhouse. corporate taxe

"bloomberg: surveillance continues in the next hour and tom keene will join me.is bloomberg. ♪ francine: treasuries take flight, 10 year yields surge above the watch 3%. two year yields hit a decade high. the brexit blame game, u.k. leaders warn their is no sign the deadlock will be broken. norway's central bank raises rates for the first time in seven years. we will speak to the norges bank governor this hour. this is "bloomberg: surveillance ," i am francine lacqua and tom keene is in new york. amazon with a possible 3000 u.s. stores with years. that will give us a glimpse into the retail sector, and we look at china, set to plan broad import tax cuts in october. tom: china many putting trade numbers as well. the norwegian central bank move, that will be good to speed to them. they are they are right now discussing it. week, in six this days, it is a big deal. francine: it is a big deal and we will talk about normalization in norway among other things. that is norway's central bank governor who will join us shortly. this get to the first word news. here is tayl

tom keene having the day off. we are focusing on emerging markets.o the midterm election. what we are seeing underpinning that is not only brexit, but the italian budget law and the populace of italy. closer to the midterm elections and voices pushback against the president, we will see if the president does or says something expected regarding trade, north korea, and the u.s.. we are all prepared for anything at this point. francine: we are. let's get straight to bloomberg news. >> president trump calls it a matter of national security. he is demanding the new york times revealed the identity of a senior official that road an anonymous op-ed article that claimed the administration is working against him. the writer indicates he or she is a political appointee. johnson own isim open to accepting stronger steps to get rid of nuclear weapons, but only if the u.s. acknowledged is measures he has taken. the two koreas will hold a summit in pyongyang. willnd president moon discuss ways to establish peace and ease military tensions. in northern japan, a po

tom keene in new york. francine lacqua in milan. listen in to bloomberg surveillance. 10 years out from lehman. let's do that with an article from nouriel roubini. esther kudlow did not want to talk about that yesterday. in 2008 -- mr. kudlow did not want to talk about that yesterday. policymakers must confront the next downturn. they will have their hands tied while overall debt levels are higher than during the previous crisis. this is a surprising essay. why will the policymakers have their hands tied? is that were doing a great job. prof. roubini: on fiscal policy, we are running a $2 trillion debt. when the next recession comes, the fed will not have much headroom before the next recession. -- it will not be enough. it is going to be difficult. backlash. populist and all thetell out tools will be much more constrained with an overall debt level higher. tom: the one that is immediate is yesterday mr. kudlow made clear he believes you can grow your way out of the deficit and he cited not once but twice in his conversation, that they already have modeled out new trupi

i am tom keene in new york. anna edwards in for francine in london.ook at the camera, i am sure there are new ones solving the fx base rent issue. i really like the one i put out a minute and a half ago. tough times necessitate tough decisions. see tough we decisions being made by the central bank in turkey later today? could we see more than 300 basis points added to interest rates? will that be enough to stem the rock we have seen in the turkish lira? tom: quiet in the last couple of days. adam pozen will join us in our next hour. here is taylor riggs. taylor: the governor of north carolina warns disaster is at the doorstep. hurricane florence is set to park itself off the coast of the carolinas and donald to feed of wo feet ofre -- dump t rainfall before making landfall. it is estimated that up to 3 million residents will lose power. damage could approach $20 billion. a powerful super typhoon is also taking aim at the philippines. this storm has topped winds of 140 miles an hour. it is expected to come ashore on saturday. it is likely to lose power

tom keene joins me. we will look at the effects of the financial collapse in 2008.n-claude trichet. the pound and it euro are both climbing on the hopes that the u.k. and eu will achieve a more amicable deal than previously thought. there is an anticipated fed interest rate hike later this month. will have plenty more on emerging markets and all of your politics stories. this is bloomberg. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. francine: emerging markets it a 14 month low. russia and china demonstrate their unity with the joint military exercise. our life after lehman brothers continues. we'll be joined by jean-claude trichet shortly. this is bloomberg s

i'm francine lacqua in london, tom keene in new york.n, we look at china and how much they hold onto that. i'm also very focused on brexit and whether today in salzburg, michel barnier will sit down with theresa may. almost on the edge of new territory. danskn skipping story -- e bank a story is extraordinary. it almost borders on shakespearean theater. francine: it is something quite significant. the chief executive stepping down amid allegations his bank is at the center of a major european money-laundering as $240with as much billion flowing through. get straight to the bloomberg first word news in new york city.here is taylor riggs . president trump has praised north korea's leader for agreeing to further steps to giving up nuclear weapons. kim and south korean president moon jae-in discussed their summit at a press conference. meanwhile, moon will meet with president trump on monday. china will not devalue its currency to make its exports cheaper in the midst of a trade fight with the u.s. the premier said that one way devaluation w

that will be anchored by tom keene and scarlet fu.ahead, an exclusive interview with french president emmanuel macron, who will talk climate change. this is bloomberg. ♪ ♪ scarlett: i'm scarlet fu, this ," where werg etf iq offer information on the risks and rewards of exchange traded funds. scarlett: u.s. stocks holding highs, what can etf investors use to future eyes there for the leo's? we put that question to take three global advisors. everyone and their mother betting on a marijuana boom. we speak with a company that saw its

announcer: the bipartisan policy center honored former governor tom keene and former congressman lee hamilton for their work as cochairs of the 9/11 commission. the director of national intelligence, dan coats, spoke about his experience on september 11, and how his position was created as a result of recommendations from the commission. mr. hamilton was unable to attend the event, but delivered remarks in a prerecorded video message. this is an hour and 10 minutes. minute. [applause] >> good evening, everybody. thank you. it's really wonderful to be out to cohost this evening and partnership bipartisan policy center. i'm invited to welcome so many distinguished guests. many partners and special friends for a program this evening with a special welcome to our keynote speaker, director of national intelligence, daniel cÔte. as jason has outlined, we are gathering for the anniversary of the worst terror attack in our nation's history and we are reminded of the urgency of our mission to build peace and resolve conflict around the world. usip was in fact founded in 1984 by war veterans w

we have the former chairman of 9/11 commission, tom keen is with us, fox news strategic analyst four star general jack keane, verizon wireless ceo along with kansas city royals hall of famer george brett big show coming up. a lot of conversation and reaction as we look back and as we remember 9/11. ♪ maria: has been 17 years since the tragedy shift the united states, commemorating that day which no american will ever forget and president trump to depart at 8:00 a.m. this morning from joint base andrews to pennsylvania while vice president pence will be making remarks at the pentagon, mitch, your remembrance of that day? >> we moved out of the city i guess two days later, i was up the whole night night packing and my wife said to me, a helicopter hit the world trade center, i then watched the second, i'm getting chills now, i watched the second plane hit, we had a project downtown so i literally ran to the office to see if everybody was okay, when i came back in to the house i have the image of my kids, the picture of my two boys watching tv and we had to put something on tv to finish

announcer: the bipartisan policy center honored former governor tom keene and former congressman lee hamilton for their work as cochairs of the 9/11 commission. the director of national intelligence, dan coats, spoke about his experience on september 11, and how his position was created as a result of recommendations from the commission. mr. hamilton was unable to attend the event, but delivered remarks in a prerecorded video message. this is an hour and 10 minutes. minute. [applause]

tom keene and francine lacqua are together in new york. bloomberg. ♪ francine: china sticks to his guns. chinese of stocks drop. here exclusively from brazil's president. instagram founders are leaving facebook with growing tensions with mark zuckerberg. francine: we are still on speaking terms. we focus on theresa may and the global business forums that are very unlike lubricant putting together. tom: before that, president trump at the united nations. francine: a lot of things are happening in new york which is why we are covering this event. theresa may is now more in trouble than 48 hours ago coming we have people out saying they want to see the final time before giving any votes to parliament. she negotiates a deal, but then it has to go through parliament and any to approve it. tom: one is a conservative meeting? francine: it is a pretty busy day for the prime minister. she will give a speech right here tomorrow in new york at the global business forum, and a little bit later, bank executives this cuss global finance during one of ou

with us, diane swonk chief, scott meyer, global cio of guggenheim and jack rosenberg, my partner tom keenewe have a great number of minutes. i want to jump into what i saw which went from craig torres of bloomberg news to our michael mckee and then over to apple obama the new york times. i want to go to diane. let's bring up the wall street journal put in. everyone is talking about this. the former governor in a scathing op-ed agreeing with chairman powell that maybe we are getting a little too method. if you can bring that up, i would it appreciate it -- i would appreciate it. the idea of where we are in a continuing. our start has been pushed beyond practical utility. mired at thescott top of our hour. the neutral rate is endogenous to the economic policy and yet it is always the outside, the exogenous that gets in the way. i thought his response there, almost like a goldilocks response. an attempt for perfect economy. this is a fed that reacts, doesn't it? diane: absolutely cannot only is at a fed that reacts, this was the most politically savvy commentary i saw after a press conference

tom keene in new york. look at currencies falling and emerging market space, i'm also looking at italy and the spread between spanish yields. tom: wonderful to have george saravelos with us. this screen is wonderful coming up. some 664sh lira, just out 26 71. that is maybe in the last half hour. francine: it certainly is. this is what i am looking out. it is a little bit of a risk off mood. let's get to straight bloomberg first word news. president trump faces new hurdles in his fight for canada to sign onto a new nafta agreement. the president has threatened to leave canada out of a new trade to with mexico, but without congressional support, he lacks leverage to force canada to make concessions. talks resume tomorrow. warningt trump is the syrian president. the president tweeted that assad's russian and ukraine allies would be making a great mistake. he says hundreds of thousands of people could be killed. it is another blow to deutsche bank after years of losses. the lender is being dropped from the euro

tom keene joins me out of new york.eaking to a professor of economics at harvard university. we will hear what he has to say about global banking 10 years after the lehman collapse. european stocks advancing on wednesday. asian shares are extending a losing streak. changing amidrs lingering worries of global trade. yields edging lower after climbing a day early. this is bloomberg. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. francine: save the day. the u.k. and a you are planning a meeting in november to sign a brexit deal. prime minister may faces a new threat from brexit hard-liners in her party. downward dollar

francine lacqua and tom keene are in new york. to the confederation of british industry's chief economist, ray newton smith -- rain smith -- newton smith. this is bloomberg. ♪ xfinity mobile is a new wireless network designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that has the most wifi hotspots where you need them and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's

listening to that, we are keen to talk while we can to the conservative mp, tom tugendhat, he is the with that session in new york, thank you for your time. time and again, we have been hearing support in new york for the british position. 0n we have been hearing support in new york for the british position. on a practical level, however, what sort of difference does all this international support make? it makes a very clear statement that the united... i apologise immediately, apparently, the russian delegation has just started speaking. translation: british colleagues promised to provide new information on the investigation of the so—called skripal affair, we carefully examined the statement of their prime minister in british parliament on this topic. to be frank, we very much hoped today we would hear something convincing that sheds light on this mysterious incident but unfortunately, expectations were not met once again. in today's statement we heard the same repeated lies. 0n the so—called double agents, as a reason, as a legitimate murdered by russian special services, intellig

from his advert i know tom is in his 60ers and has a one bed flat on the outskirts of bristol. he has already sent me more than 50 e—mails including a photo, keennd goes straight in for a kiss. how how are you? i know part of the deal is sharing his bed but i want to find out what else he is going to expect. when you say like i arranged to meet the next landlord ata pub i arranged to meet the next landlord at a pub in win don. from his advert mike claims to be in his 40s with a designer pad on offer. this time i would get my own room. we exchanged a dozen message, nothing dodgy but he tells me he has done this before and he has clearly got away with it. no kiss this time but when i ask for a small glass of wine he generously returns with a large win. can i give you the money for it? are you sure? after small talk we cut to chase. turns out i've got competition. if you had like, if you had a lot of the minute industry ofjustice says just placing an advert is illegal but we have checked with the police who aren't aware of any prosecution, so who aren't aware of any prosecution, so it hasn't been tested in court, and a solicitor with expertise in

from his advert, i already know tom is in his 60s and has a one bed flat on the outskirts of bristol. he has already sent me more than 50 e—mails including a photo, keende me feel so uncomfortable. it wasn‘t a very nice experience. it wasn‘t very nice at all. and all i keep thinking about is how these people doing this for real must feel. one of those is 22—year—old laura from bristol. after a family breakdown left her homeless, she entered into a sex for rent arrangement as a 19—year—old. laura is not her real name and she asked for us not to show her face. you were living with friends, sort of sofa surfing. yeah. and then you ended up getting into this sex for rent arrangement. how did that come about? i sort of stumbled upon craigslist. i went to london and he said he had a little, almost like a little cabin outside. it was like a bedroom/living room. we had a kind of arrangement that was like, written down. so a couple of times a week he would sort of give me alcohol, drugs, take me out, whatever. and then we‘d have to sleep together. and that was sort of like the arrangement instead of money. how did that make you feel? looking back, it‘s kind of