this is more of an event play, toshiba. we have a buy on softbank and toshiba.o believe this company will be privatized, and a lot of restructuring that it needs can easily happen outside the public domain. now, if they were to go down this path, and as they say, this is one of their options, this would make it easier for them to keep businesses that have considered as national security, and others, separately. and once that separation is there, it will be a lot easier to privatize and sell assets to investors, whether they are fell learn -- foreign investors. that will be a lot easier. currently they have quite a few businesses can be categorized as national importance, and therefore it is difficult. previously it was good. but that having been said, that would benefit a majority of companies in japan. most of them seem to be doing a lot of things. if they were to do these kind of splits, this tends to work really well. to unlock corporate value. shery: will this be enough to really a peace activist shareholder's? we know they were getting a lot of pressure. at

they say breaking up is hard to do, but for toshiba and johnson & johnson, they will give it a try. conglomerates announcing they will break up, streamlining their operations. today, we look at the future of this business structure and if the recent moves signaled the start of a trend or if this is a passing moment. we will see who might be the next to break up when it comes to conglomerates. were they? people talk about tesla, alphabet and meta-platforms. first, let's hear from the ceos who announced the move last week. >> these this misses will be more focused, a higher level of accountability. we should have sharper allocation and strategic flexibility. i think we will end up with investor bases, investors that are probably underinvested in ge today. put all that together and it's clear this is the best path to unlock and create value. >> both businesses have the potential to grow at least single digits and above going forward and we think this will better position the consumer business in this evolving environment to be even more agile and flexible, even more innovative to reach

toshiba up 2.7%. that comes after increasing pressure from activist investors in the wake of toshiba's accounting scandal back in 2015. and leading the break-ups was general electric earlier this week which said it will split into three publicly-traded companies that will focus on aviation, health care and energy sector. ge up a third of a percent right now. let's get to our floor show traders. kennykenny polcari, j&j and ge e widely-held names. a lot of our viewers have them in their portfolios. are these spin-offs positive from where you sit? >> i think they are because, you know, in johnson & johnson's case, they're going to take that consumer brand away from the drug side. and i think that, you know, the consumer side is under that, under that threat of those continued court cases with the talcum powder, all that stuff. so i think the investor in johnson & johnson is going to do very well. i don't think they should bail yet, i think they should wait, and then when it splits, they're going to decid

ge, toshiba, and johnson & johnson announcing a breakup. we will discuss.lus, a disney plus stumble puts the damper on the birthday party, how less subscriber growth overshadow the celebration. carson block is back, talking about elon musk and retail investors. what he has to say about meme traders. markets climbing. inflationary pressures continued to reverberate through the markets. ed ludlow is fear. -- here. ed: no worries. we get past those concerns and technology leads the way. nasdaq 100 outperforming the s&p 500. also strengthen the m egacaps, google, facebook, tesla. inflation is the name of the game. the strongest print in october, the fastest pace of inflation growth since 1990. i wasn't around in 1990. you look at the categories in which prices are rising, there is concern. why? because the u.s. consumer has been driving economic recovery, supercharged spending, but with energy rising, goods like televisions, what happens if the american sumer cools off? if inflation is overshooting, could we see tighter monetary policy? the federal reserve coul

it beat coming from toshiba and mizuho.to the cop 26 climate conference entering its final hours with everything left to play for. fossil fuels, global carbon markets, and big polluters to cut emissions, remain unresolved. we go to maria tadeo live with a guest. >> yes, we are still here at cop. these are the final hours. it is crunch time for the conference. we are joined by our guest. when you look at the language in the communiquÉ, there is no reference to the 1.5 temperature check. would we say this is a failed cop? >> we would really like to keep the language around fossil fuels because we have been here in paris. it would be really good to keep that language in. we absolutely desperately need it to be a little bit more ambitious. either right now or we need a commitment over the next year to restate them. maria: you mentioned the targets. at the start of the conference, it was very clear that some countries would have to increase theirs. there are a number of them that have to increase their ambitions. we were hoping

could japanese conglomerate toshiba be close to a breakup after years of trouble? and, how do western companies get a part of china's massive singles day event? the ceo of british male grooming company tells us how they did it. friday sees the last day of cop26. the day when the final agreement between the nations is published — arguably the most important document that will emerge from the conference in glasgow — because unlike the last major climate conference in paris in 2015, what emerges here will not be a new treaty, but a series of decisions and resolutions that build on the paris accord. so what do we know already? the us and china say they'll work towards keeping global heating to 1.5 degrees, a goal set out in the 2015 paris agreement. and the cop26 draft agreement calls out fossil fuels as the main culprits of climate change for the first time. major financial institutions, with a combined net worth of around $130 trillion dollars, have also said they want to help bring global emissions down to zero. eliot whittington is the director of the uk and europe

that is at the moment toshiba.price has gone up to 2%, and that was before we went out to lunch there in tokyo. haslinda: we will continue to track development. for now, let's get first word news with vonnie quinn in new york. vonnie: the u.s. is rush -- is warning europe that russia may plan to invade ukraine. sources tell bloomberg washington has been monitoring a buildup of russian forces near the ukrainian border. moscow says military development on its territory are an internal matter. and it accuses the united states of provocation as well as denying aggressive intentions. u.s. officials do not believe fed chair jay powell's sale of stocks last year disqualify him from a second term. our sources say some within the administration still have concerns about that trade. chinese developer kaisa has reportedly told developers it may miss interest payment deadlines. the company had a coupon due thursday and another friday. both have 30-day grace periods. i warning that -- a warning that kaisa is still sorting throu

the remaining business will hold its stakes in toshiba tech.more of the investors, plus the interview of the hour, the woman at the head of an asian property empire. that is it for daybreak australia, daybreak asia is next. this is bloomberg. ♪ and there you have it. woah. wireless on the most reliable network nationwide. wow. big deal. we get unlimited for just 30 bucks. sweet. but mine has 5g included. relaaax people. my wireless is crushing it! that's because you all have xfinity mobile with your internet. it's wireless so good, it keeps one-upping itself. switch to xfinity mobile and get $200 back when you bring your own phone. or get a samsung galaxy a42 on us. call, click or visit a store today. >> the power that small investors can have. i'm curious but how people can look at what you did and use that as a template or some sort of guide as how they can approach their relationship with other companies. >> we thudded the company on the idea that we take the data, not ratings and rankings. we take the environmental, climate, the worker data

the remaining toshiba business will hold stakes in pioneer key osha holdings and toshiba tech.di: we have a big outlook -- interview on the outlook for m&a. apollo global caching in. mark rowen joins us later. plus, we preview china's monthly activity data due out later today. the chief economist andrew stilton will be sharing his views. this is bloomberg. shery: welcome today daybreak asia i am shery ahn in singapore for the bloomberg u.s. economy form. haidi: i am haidi said what's in sydney. our top stories are asian stocks said for a steady start. economic data from china with an eye on volatility in the bond market. the stakes are high as president biden is set for talks designed to ease tension. the call 26 climate deal. let's get to use that you to the start of trading in tokyo and seoul. sophie: we are seeing the nikkei 225 adding that edging higher -- edging higher. we are seeing steele and jay holdings under pressure so far. we have the 114 handle this morning. we do have a jgb under pressure. we are keeping an eye on names like lg chem. renewables undid him nine -- u

toshiba is considering splitting up the company as it looks for ways to strengthen shareholder value. japanese conglomerate is reportedly going to divide itself into three companies to focus on infrastructure, devices and semiconductor memory as early as 2023. toshiba has been in turmoil with shareholders over the direction of the company and whether it should pursue going private. coming up come first facebook, than microsoft bet on the meta-verse. we will be with the former head of amazon studios. his vision for how big the meta-verse will be and who will own it. that is next. this is bloomberg. ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. emily: welcome back. let's head over to the markets where ed lu

both ge and toshiba announcing break dwlups week.e upon a time johnson & johnson was constructed and built such that the consumer business provided cash flow to the riskier side of the business now all of a sudden we are undoing that >> it is all cyclical. what i don't like about it is it steps up for good stock, bad stock. companies, when they are going for a splittup, they are going for a higher valuation, but that also means the lower valuation is left alone. i am not a big fan of this to your point there are so many things we can look about to the obvious much which is facebook potentially being forced to spin out or break-up. there are so many things you can do but those companies probably wouldn't do it on their own because they want to keep the higher multiple. i understand why there would be a knee-jerk reaction to buy it, but i don't think it makes sense longer term. >> those are brands that face enormous competition i am thinking of amazon, first, they have a generic or in-house version of everything under the sun at this p

ge, toshiba, and johnson & johnson announcing

toshiba is considering splitting up the company as it looks for ways to strengthen shareholder value.apanese conglomerate is reportedly going to divide itself into three companies to focus on infrastructure, devices , and semiconductor memory as early as 2023. toshiba has been in turmoil with its shareholders over the best direction for the company and whether it should pursue going private. coming up, first facebook, then microsoft making big bets on the meta-verse. we will be with the former head of amazon studios. matthew ball. his vision for how big the meta-verse will be and who will own it. that is next. this is bloomberg. ♪ emily: welcome back. i'm emily chang in san francisco. let's head over to the markets where ed ludlow has news of the mcafee deal and what it means. take it away. >> a blast from the past. it is like something we rely on each day, antivirus software security software. , i remember my parents putting mcafee on my desktop when i was a kid. big deal. a buyout from a consortium of private equity names, paul ewing the company at -- valuing the company at $14 bill

j&j following the likes of ge, toshiba's doing it, they're all splitting up. up for a company -- breaking up for a company is apparently the profitable thing to do. we're on it after this. ♪ ♪ ♪ ♪ there are beautiful ideas that remain in the dark. but with our new multi-cloud experience, you have the flexibility you need to unveil them to the world. ♪ [gaming sounds] [gaming sounds] [gaming sounds] just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist, including automatic emergency braking. find new peace of mind. find new roads. chevrolet. as i observe investors balance risk and reward, find new roads. i see one element securing portfolios, time after time. gold. your strategic advantage. there's a different way to treat hiv. it's once-monthly injectable cabenuva. cabenuva is the only once-a-month, complete hiv treatment for adults who are undetectable. cabenuva helps keep me undetectable. it's two injections, given by a healthcare provider once a month. hiv pills aren't on my mind. i love being able to pi

we are also expecting a little bit more detail when it comes to the fiscal spending package from toshiba who just confirmed a record of fiscal spending again. we will see korean trading in a few moments. after we saw that retreat last week against the u.s. dollar, given the factory prices last month, growth at the fact is based 2008, we will see a hike on what we expect in the trade fund. in a few minutes we are also getting the 20 day as part number. that will give us a pulse check of the state of global commerce. we could have seen a little pressure given base effect. at the same time, higher prices given supply chain disruption. there is not much change on the aussie dollar but a little pressure on the kiwi now. up next, protest are growing in europe against restrictions. questions are raisedshery: we ae fallout of the global supply chain crimes. japan's government is reportedly earmarking $6.8 billion for domestic chipmaking. tsmc factory. samsung will announce a location of its new chip land in the u.s. at this week. caps on reportedly met with u.s. officials to discuss ways to reso

and meanwhile, japan's toshiba is looking at splitting its business into 3 focusing on semiconductors, devices, and infrastructure. with this stock price dropping about 4 half percent this week on that news, moving to india to send faxes more than 1.5 percent for the week. on friday, the real estate and energy sectors were all up. a report from the finance ministry said the country's economy is on the way to becoming the fastest growing economy in the world, admitted dr. kobe vaccination. now there are concerns, of course, the rising prices could hold that progress. moving to australia, the s x is down for the week, but by less than a quarter of a percent, the nation's economy lot 46000 jobs in october, as the unemployment rate picked up to 5.2 percent. due to coven induced locked down the index did break a ford, a losing streak on friday. as metal prices continue to rise, pushing the mining sector up. and in south africa, we have a green arrow for the all share on thursday, south africa finance minister. so the country is expected to grow 5 point one percent in 2021. again, rising co

the plan is to separate infrastructure services and toshiba's stake in a memory chip maker. alibaba shopping festival posted record sales, offering china's e-commerce giant a boost after a year of heightened regulatory scrutiny. investors are grappling with a 30% plunge in the firm's shares this year. alibaba was hit with a $2.8 billion antitrust fine in april. a disappointing sales projection for the fourth quarter sparks concern the company's growth is tapering off. it is the second time in the past month that the company has issued earnings guidance. it failed to meet wall street's expectations. dani: thank you so much, laura wright. let's get more on the markets with our markets editor kristine aquino. thank you for joining us. what a precarious time to be trading in these bond markets. what do you make in the jumping yields today? kristine: it is emblematic of a momentous occasion in bond markets. it is essentially the beginning of the end of the era of easy monetary policy. you can see that in the way bond markets are trading, volatility is up, and some measures of liq

the remaining business will hold stakes in memory chips and toshiba tech.with a consortium. the agreement is just under $2.9 billion and gives shareholders to options. an all cash offer or an offer of $2.40 a share comprising a mix of units and cash. yvonne: taking a look at markets before we go, we are seeing markets off some of the highs we have seen but we are marginally higher after the data dump out of china which did look better than expected, perhaps signs of stabilization. in terms of equity movers, take a look at biotech. they are surging. up 17.3%. there is news and local media that china may approve an antibody-based covid drug by the end of this year which would be their first locally produced covid drug. on the other end of the trade, property and focus. soon xserve is is down 14%, falling on the back of the share placement. plenty more to come, this is bloomberg. ♪ it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business'

could japanese conglomerate toshiba be close to a breakup after years of trouble?tish male grooming company tells us how they did it. friday sees the last day of cop26.

toshiba has been in turmoil with investors over its strategic direction. it is the time of the day, morning calls. sophie kamaruddin. we have covid cases in china now topping 1000, a new outbreak that began in october. what has been the potential, or what is being seen as a potential impact on economic growth by the investment community? sophie:, over at ubs, they are accounting for those uncertainties. with authorities in the mainland pursuing their zero covid policy, that will dampen the recovery for consumption. so the bank says they see that that's a drag on investment from the property sector weighing on the outlook. ubs is forecasting 5.4% growth next year, softer than initially anticipated in their baseline scenario. and as we see the global recovery slowing, spending shifting more towards services, ubs calculates china's growth in 2023 will weaken further term 5% as export, man weakens. haslinda: what about the outlook for china's growth question mark what is the expectation for policy support? sophie: citi says more policy support is needed, but w

. >> you bet >>> coming up, breakup nation, attor toshiba and ge and all of the names on your radar.s you head to the break, take a look at 52-week highs including best buy in business, setbacks change everything. so get comcast business internet and add securityedge. it helps keep your network safe by scanning for threats every 10 minutes. and unlike some cybersecurity options, this helps protect every connected device. yours, your employees' and even your customers'. so you can stay ahead. get started with a great offer and ask how you can add comcast business securityedge. plus for a limited time, ask how to get a $500 prepaid card when you upgrade. call today. >>> welcome back, everybody. the saying with the song there it goes, breaking up is hard to do but it's a different story these days on wall street. some big names announcing breakups, unceremoniously, i suppose, this week, general electric splitting three ways in aviation, health care and energy johnson & johnson separating its consumer drug and products segments another handful breaking up in front of you 2015, ebay broke

even mentioning what pfizer has done or what merck has done or raytheon, and more reports about what toshiba may do >> that's interesting. that's under pressure. how by glaxosmithkline under pressure right know -- these guys are tough. >> that's elliott, right >> yeah. >> they're tough one of the things that i -- one of the things that i think is interesting is they have split that company -- i don't know if you can see that the performance has been pretty good versus how if you take a longer-term view they think there's more there they thinks the convergen business could be worth a lot more >> they have a big team there on the activist front what's your point? why do you bring up glaxo, though >> they were saying people do not see the great growth in our farmo. the only was to draw attention to is the. >> this one is not clear >> you have some excitement in every division. >> true. just like ge, this is going to take time. >> why do you think -- >> similar to ge it will be two years before -- >> medical devices have been bad because of covid that can snap back let's not forget the talc liti

just have a look at other stocks reporting today, toshiba, yamaha. into the lunch break, the return of the carry is in focus when you look at where moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. david: welcome back to the show. we are one hour into the chinese session. just a couple of stocks we are tracking. you might have already seen the pronouncement from this company, haidilao, that has come under tremendous pressure. hotpot is not something up next weiss worry -- opticswise, where you want to be during the pandemic. 300 stores might go. as far as headcount, they will be ok. we are looking at other stocks to watch here. rishaad: travel stocks in particular. pfizer medi

then have you the non-u.s., toshiba's three-way split.wagon spinning off a trust. the point is when the board rooms of america look at this, when they look at what's going on, you have contagion they're starting to think if we've got a business growing at 2%, one growing at 10. the market is paying only 4 or 5% of a growth rate, why not reexamine how we do it from a tax point of view and what's fair to the shareholders so that's what's going on. there is a whole bunch of companies i like i think the stock at universal music. that is interesting. group hotel interesting, holland, these are the companies going through this financial engineering. some like the ibm-kb splitoff. have you to be patient, joe. the mechanics of an etf owning ibm where they want it in a certain size portfolio, they're going to basically sell the stock and so you got to figure out when are they finished selling it and then do you want to own it? >> well, not every conglomerate in the past that you were talking about, there weren't synergies. a lot of times there wer

split focusing on healthcare for one company, energy for another company, aviation for the third and toshibap of the iceberg, that we're going to have a whole host of splits coming up in corporate america. what do you think? is it a good idea to invest in a split company after the split? >> well, look, maria, if you look at the backdrop now in markets, there's abundant liquid at this, equities -- liquidity, ebbing -- equities are close to record valuations. when you have underperformance for years, it makes complete sense to split those up and have more focused businesses, particularly when they're higher margin like johnson & johnson's drug business or when we're continuing to have a turnaround like they're doing at ge with the aviation business in particular. maria: are there any of these companies that you would invest in today? when you look at separate aing j&j, the drug business, the business that created the covid vaccine versus johnson & johnson baby powder, where do you see the growth in the split? >> well, at fs investments, i'm the chief market strategist, no longer at sky bridge,