shery: up next, we continue our conversation with the blackstone executive chairman, tony james. including opportunities in australia. this is bloomberg. ♪ paul: you're watching "daybreak australia." we do have futures pointing higher by a little more than .1% following reasonable gains in u.s. equity markets. blackstone group struck its biggest deal so far in australia back in june, agreeing to buy over $1 billion of offices in sydney. have been in you australia, have your investment decisions changed much over time? >> sure. we bought a bunch of retail. now we have the net sellers and have moved more into logistics as australia has become more and more of an internet shopping destination, i guess. office has been sporadic. as you point out, we did the big deal, but right now, we don't see a lot of opportunity in office. earlier on, we did some residential deals. then we had a bit of a hiatus on that. now we are looking into residential deals again. it evolves to where there are opportunities. away from the trends, and some of those are global. logistics is a big trend for us ev

plus, blackstone's tony james ways and in the fed's repo operations. an exclusive conversation with malaysia's prime minister and waiting. he said investors should not worry. he will take over as promised. >> there is clear definite decisions being made. juliette: up next, more of the top business headlines. the election leaves israel more unsettled than before. >> we could see a national unity government. there is even a chance we go to a third round of elections. juliette: this is bloomberg. ♪ ♪ juliette: this is "bloomberg best." i am juliette saly. let's continue our global tour of the week's top business stories. while the u.s. and china prepare for their next round of negotiations, the most recent data from beijing continues to show the trade dispute is taking its toll. >> the data from china shows more weakness in the economy. industrial output on the way up. 4.4% last month from a year ago, way below estimates of 5.2% gain. etail sales also missing, and expansion of 7.5%. >> it was quite a weak across the board. industrial output, the worst rea

they ahn: we had just blackstone executive vice chairman tony james and we asked him about the repo market moves. take a listen to what he has to say because he does not think it is a systematic issue. tony: the rate spike looks very scary but it is only overnight. the actual cost to the system is not high. it is more of a concern to -- very technical. it is a technical problem, very short-term the fed's addressing. the fed wants stability. i am not surprised they stepped in here. shery ahn: is that your take of what is happening in the repo markets as well? definitely ais short-term issue. it started yesterday and continued again today. we will see that fed come in again tomorrow morning or but anytime you see -- that ticking higher, like what we saw yesterday. that's going to worry the fed a little bit. our base case is for a 25 basis point cut, but the risks have increased so we could see a larger reduction in interest reserves. the press conference, following the fed decision, what would you anticipate will be questions on th emuch expected 25 basis point reduction or some more questio

panic, or is it tony james?ve seen from money markets is the fed has lost their control to maintain a stable money market system right now. they are in the process of fixing that, but they've overshot that in terms of the number of reserves they have put into the system, and that is why we are seeing this big term spike in interest rates. repo operation yesterday. they are doing another today to try to add reserves to the system. still, markets are telling them it may not be enough. repo is still around 2.8% at the moment. a loss of control and ascending steps to get a handle of it, so you shouldn't worry too much about the broader impacts of this, assuming the fed can get true whole -- can get control. like we cani feel extrapolate something more is that they are losing control now when everything is fine. what happens when there is a crisis, and what about a budget deficit? saira: we agree generally that this is not going to be a long-term problem. the markets in general, it's another headwind. another reason

hbo tweeted that question to its viewers, and the overwhelming favorite was tony soprano. jameswon three emmys for his role playing a mob boss. i'm not surprised with that one. >> yep, other characters making the list were daenerys targaryen from "game of thrones" and omar from "the wire." good list there. >>> well, next an effort to raise money to buy beer that's now turned into a massive fund-raising effort. >> carson king made a brief appearance during "college gameday" on espn. cameras spotted the iowa state fan holding a sign that read, busch light supply needs to be replenished, and he gave out his venmo account. >> all right, well, soon thousands of dollars started pouring into his account. >> i thought, you know what would be kind of a funny thing to do for a sign, you know, and then i was like, well, maybe some guys will give me a couple of bucks and i can buy a case of busch lattes. >> throw that cash up in there. once his account hit $6,000, king announced though that he'll donate the money to a children's hospital. >> then even more money came in eventually hitting $

there in washington let's to let's cross over now to kabul tony barely is there for so it has been swift reaction then from kabul to president james decision from both the afghan government and the taliban. yes firstly the afghan government i think officially saying they support the peace process but privately they're welcoming the decision by president trump to cancel this meeting they have always felt left out of this process because the taliban refused to negotiate with them and they will also be very concerned especially president danny the fact that the violence was continuing while the talks were continuing so they'd be very concerned about that the taliban for their part they've been they've released a statement at the same time that statement they're extremely surprised by the cancellation of this according to them they believe that the draft agreement was basically a done deal and their statement released on their website they say that these negotiations concluded on saturday. it that both sides agreed on all points the agreement was finalized regional i mean 2 national powers have agreed to those agreement that agreement

james a. baker the third. number three would be former british prime minister tony blair, and margaret thatcher.hose are the people who i -- >> eric, who is a most impressive person you met in congress or in public life? >> i will say some who were in here will remember this name. when i was first elected to the house of delegates, i was young, i was -- >> still young. >> just had a kid get married so no, i'm not so young anymore. but i was 28 years years old and my first term. there was a democratic legislator from roanoke county, and and i can see him shaking his head, dickey crane well. he would have this country lawyer regime, this aw shucks stuff but there is no one i've run into since. could've been just a stage in life that i was a kid in this process to see how we maneuvered at the time, at a police he was later at the time. and just had the ability to affect an outcome and intimidate but yet he could be kind. it was pretty impressive. so again, a very unlikely person to say was most impressive but i saw him wielded that progress. >> who was the most impressive person you met in public l

james a baker iii. number three would be former british prime minister tony blair. and margaret thatcher.se are the people. >> eric, who is the most impressive person you have met in congress or public life? >> some in here will remember his name. when i was first elected to the house of delegates, i was young. >> still young. >> i just had a kid get married. i'm not so young anymore. i was 28 years old. in my first term. there was a democratic legislator from roanoke county, dickie kramer. he would have this country lawyer regime. there is no one i run into since. it could have been my stage in life that i was a kid in this process to see how he maneuvered at the time. i believe he was leader at the time. just had the ability to affect an outcome and intimidate. he could be kind. it was pretty impressive. a very unlikely person. i saw him wheeled that progress. >> who is the most impressive person you met in public life. >> in the state senate, i worked with doug wilder and hunter andrews. if you're talking about skulduggery, it is those two. in the house of representatives, nancy pelosi

james a. baker the third. the formere with british minister -- british prime minister tony blair and margaret thatcher. -- who is the most impressive person you have met in congress or in public life? erik: when i was first elected to the house of delegates, i was young. david: still young. i just had a kid get married so i am not young anymore. i was 28 years old in my first term. there was a democratic legislator from roanoke county. -- dickie cran well -- dickie crane well. he had this country lawyer shucks.- aw it could have been because i was seed in this process -- to how he maneuvered at the time and i think he was leader at the time. ability to the affect an outcome and intimidate but yet he could be kind and it was pretty impressive. a very unlikely person to say that was was impressive. david: congressman, who is the most impressive person you met? >> in the state senate i worked with doug andrews and if you talk about doing skulduggery behind the scenes -- in the house of representatives, nancy pelosi because she can spot 218 votes from a mile away. and she can keep this motley group of demo

james a baker the third. number three would be former british prime minister tony blair, and margaret thatcher.se of the people who i had the greatest speed is eric, was a most person he met and cogs or in public life? >> you know, i will say this, some who were in you will remember this name. when i was first elected to the house of delegates, i with young. i was -- >> still young. >> just had a kid get married, so no, i'm not so young anymore. i was 28 in my first term, and there was a democratic legislature, legislator -- i can see -- dickey. he would have this country lawyer regime, this all shocks. but there was no one i've run into sense. and it could've been just a stage in life that i was a kid in this process to see how he maneuvered at the time. i believe he was leader at the time. just had the ability to affect an outcome, and intimidate but yet he could be kind. it was pretty impressive. so again, a very unlikely person to say with most impressive but i saw him wielded that progress. >> who was the most impressive person you met in public life? >> in the state since i work with doug

schoolgirl director tony burke scolding the international community those world leaders in the room and she said the way they were dealing with this issue fayre were the ones who were a mature jamesraze of the series diplomats had said thank you very much indeed well speaking of historic moves the united nations and eyes that gamma will become the 1st african nation to receive ensor national funds to preserve its forests norway and gabbled signed the accord on sunday on the deal the central african nation will receive a maximum of $150000000.00 over 10 years to fight steve forestation evelyn's forestry minister says the rain forest is critical to protecting by diversity and containing carbon emissions. flooding is threatening to cause food shortages in north western nigeria where crops have been destroyed dozens of people have been killed and thousands of homes washed away amid aegis reports now from. this lush green rice paddy has provided a livelihood for generations of farmers but recently they've watched helplessly as floods transformed their farm lines into new fishing grounds. those who cannot cope are forced to leave. one might only course trying to salvage what he can of

james baldwin died. clearly it's tanehisi coates, the person who said that is tony morrison. >> wow. amazing.hatever do you mean, with at his new role as a single dad in "the without the letters a, b and o, there's no mom. no dad. there's no brittany. because as, bs and os determine your blood type. and we're missing all of them. that's why the american red cross needs people like you to help fill the gaps. schedule your donation at redcrossblood.org [pants] [thunk] [panting] [tap tap] meet one today. visit theshelterpetproject.org. adopt. the only thing better than playing a hero in the movies, is being a hero in real life. like the 50,000 veterans who returned from iraq and afghanistan with devastating injuries. they are true heroes. and they're why i'm proud to support paralyzed veterans of america. they make sure veterans with spinal cord injuries get the care and support they need at no cost to them. to learn more, visit pva.org. that's p-v-a dot org. staying through graduation's even harder. so at communities in schools, we do just what our name says. our staff brings a community of res

toni i'm judy woodruff. for all of us at the pbs newshour, thank you, a 'll see you soon. >> major funding for the pbs rovided by:ilbeen p >> bnsf ray. >> consumer cellular. >> financial services fi raymond jamehe ford foundation. n working with visionariese frontlines of social change worldwide. >> carnegie corporation of n york. supporting innovations in education, demratic engagement, and the advancement of international peace and security. at carnegie.org. >> and with the ongoing support of these institutions and individuals. >> this program was made possible by the rporation for public broadcasting. pbsfr contributions to yo statio viewers like you. thank you. captioning sponsored by newshour productions, llc captioned by media access group at wgbh access.wgbh.org >> you're watching pbs. >> pati narrates: los cabos, m mexico. down at th tsouthern tip baja peninsula, one of mexico's most popular tourist destinations is also one of its newest cities. but there's a unique history here that dates back centuries. >> the pirates used to come and hide right there in the bay of cabo san lucas. >> i'm following this chef and food historian off the beaten path to find traces of that european pirat