justin trudeau has a minority in parliament.upportns he has to get from the opposition parties to pass legislation. and there is a party to the left of the liberals, it is called the new democratic party. letters tohe has the to remain iners power and move ahead with a high spending agenda because he can rely on support on the social democrats. joe: great explanation. our thanks. with the drama in canada. coming up, we continue to dig into possible we points in the economy -- weak points in the economy and why you should watch the u.s. coin shortage. we will speak with joe debate. this is bloomberg. ♪ joe: welcome back. joe weisenthal -- romaine: joe weisenthal owes me 75 centss and refuses to pay it back because there is a coin shortage in the u.s. you can tell something about the pace of the economic recovery with those coins. we have looked at the data. there has been a significant drop in the number of available coins. why does that matter? what does it tell us about the pace of the economy right now? joe a.: so, one of the

trudeau has justified the 5 week suspension with the need to reassess the parliament's agenda severalof its committees had been investigating the government's actions and valving a student grant program canada's independent ethics wash ogg is also separately investigating the prime minister trudeau is being probed over alleged breaches of conflict of interest laws that's for awarding a $690000000.00 student grant program to be charity which has ties to the p.m.'s relatives trudeau has dismissed allegations of preferential treatment which charity and the government have since ended their partnership. the prime minister has been reprimanded by the country's ethics watchdog twice before last year he was probed for pressuring his former attorney general to help a major canadian company sell a corruption case out of court or less public says this latest scandal is unlikely to go away a number of high ranking liberals including the prime minister were connected with the charity his family members his mother and his brother received close over $300000.00 in paid speaking opportunities with t

he quit after a rift with justin trudeau route impossible to repair.and handled the negotiations of nafta between the u.s. and mexico and would be the first woman in the role of finance minister. joining us to discuss this and more is rufus yerxa, president of the national foreign trade council. your reaction to the possibility of chrystia freeland becoming the finance minister in canada? will this leave a gap or a good trade person should be? >> i don't know about that. she has been the trade minister, foreign minister for some time. i am sure that she will do a good job as finance minister. we will just see who canada has replacing her in that critical role. it could be an important role over the next several years, sorting out some of the problems with the u.s., the multilateral trading system. vonnie: exactly. what is next for canada in particular when it comes to trade? freeorth america trade agreement has been ratified, attention turning to china now. rufus: yes. lot going there is a on between the u.s. and china. i am sure there are concerns abo

s relatives trudeau has this mistah a geisha and self preferential treatment we the government have since ended their partnership. the prime minister has been reprimanded by big countries ethics watchdog twice before last year he was pro pressuring his former attorney general to help a major canadian company settle a corruption case of court journalists that. say this latest scandal is unlikely to go away. the number of high ranking liberals including the prime minister were connected with the charity his family members his mother and his brother received close over $300000.00 in paid speaking opportunities with that organization i do think that over the last couple of years his character has as being damaged by his own actions by his own words by his past and how that is present by the things he's seeing versus the things that he's doing and the recent use of the probation as well as the we scandal our things which are continuing amounts of that i do believe that when it went on like shannon does little in the near future that the liberal party could perhaps be looking at somebody else t

justin trudeau amputated his right hand to train safe himself when he forced his finance minister to resign now he's shutting down parliament and locking out the opposition m.p.'s to prevent us from holding him accountable and getting answers and he's w e scandal shutting down parliament in the middle of a pandemic and an economic crisis with a plan sitting next week in committees working hard to get answers and solutions for canadians is wrong the canadian parliament will be suspended for 5 weeks several of its committees have been investigating the government's actions involving a student grant program and there's independent ethics watchdog is separately investigating trudeau as well as his former finance minister both are being investigated over alleged breaches of conflict of interest laws and after the government awarded a $690000000.00 student grant program to w e charity which has ties to the p.m.'s relatives trudeau is said that he should have recused himself from that cabinet decision but has dismissed allegations of preferential treatment w.-e. charity and the government h

justin trudeau imputed his right hand to try and save himself with you for scuse finance minister to resign now he is shutting down parliament and looking out of position m.p.'s to prevent us from holding him accountable and getting answers on his we scandal shutting down parliament in the middle of a pandemic and an economic crisis with a plan sitting next week in committees working hard to get answers and solutions for canadians is wrong trudeau has justified the 5 week suspension with the need to reassess the parliamentary agenda several of its committees have been investigating the government's actions evolving a student grant program canada's independent ethics watchdog is also separately investigating the prime minister to doe is being probed over alleged breaches of conflict of interest laws for awarding a $690000000.00 student grant program to wheat charity which has ties to the p.m.'s relatives trudeau has dismissed allegations of preferential treatment we charity and the government have since ended their partnership the prime minister's been reprimanded by the country's eth

that leaves trudeau with a major hole in his cabinet in the midst of a recession. his were place and will not be former bank of england governor mark carney, who has been advising trudeau on his economic ever plan -- economic recovery plan. the world's largest retailer versus stronger-than-expected online sales. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i medicaid. this is -- i'm ritika gupta. this is bloomberg. ♪ >> i'm sure there are republicans and independents who can't imagine crossing over to sapore democrat. they feared -- to support a democrat. they fear joe will turn left. i don't believe that because i know the measure of the man. reasonable, faithful, respectful, and no one pushes joe around. tom: virtual political tension last night as the general one from ohio comes out for the gentleman from delaware, and support of vice president biden. i am sure we will see much more of that. david westin and kevin cirilli with our coverage. tonight, i believe that 10

in canada, bill morneau has resigned after a rift with justin trudeau proving impossible to repair. that leaves trudell with a major hole in his cabinet in the midst of a recession. ah that leaves trudell with major hole in his cabinet in the midst of a recession. mark carney has been inviting peter tchir to -- justin trudeau global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries, -- i'm ritika gupta. this is bloomberg. tom: thanks so much. equities, bonds, currencies, commodities. weak dollar is a major theme today. kit juckes of socgen with a smart morning note looking at where inflation rate-evens are, the dynamics that brings to the dollar market. what we've got all in all is just a up fractionally, turn there. yields have come in lower, three, even four days in a row. more than anything, i'm looking at that. 10-year tips negative. 0.99. that is a greater negative number, a much lower more negative real yield over the last -- i'm only courting that because i miss jon ferro. turkish lira not par

justinn prime minister trudeau is asking mark carney for help in revising the economy. after leaving the bank of england, he is now an informal advisor to trudeau. is also a u.n. special envoy on climate action and finance, and an advisor to the top 26 the now delayed climate change conference. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more i'm 120 countries, leigh-ann gerrans this is bloomberg. yousef? yousef: thank you very much. let's get to some stories in this part of the world. lebanon's government has toigned as anger continues grow over the explosion. more than 2000 people were killed, 500 were injured, and thousands have been displaced by the blast. protesters accuse lawmakers of negligence. from beirut is the managing director of fixed-income strategy at jefferies. let me get your initial reaction on this, and what you sense could become -- could be coming for the political administration over the next several weeks. >> thank you for having me. obviously we are in a very important junct

that leaves trudeau with a major hole in his cabinet in the midst of a recession. he confirmed that the position will not be filled by bank of england governor mark carney. in expanding a bet its physical offices in six u.s. cities. the company will be adding thousands of corporate jobs in those places. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> four years later, the state of this nation is very different. more than 150,000 people have died, and our economy is in shambles because of a virus that this president downplayed for too long. obama-- tom: michelle with quite a statement to end the first night of the virtual convention. joining us after virtual sleep, kevin cirilli, our chief washington correspondent. we could go for an hour over the political experiment last night. let's start with the theater of it. was it successful? kevin: i think former first lady michelle obama, from the details of the vote on her necklace to her

justin trudeau did not name a successor but it will not be mark carney. the u.k. forced into a u-turn over exam grades. they've agreed to let the results be determined to buy teacher assessments rather than through a controversial algorithms that downgraded results. it comes in the face of outrage from present -- from parents and students. gavin williamson admitted there was unfair and the system. israel says bahrain and sudan will likely be the next countries to make peace with israel following the lead of bit united arab emirates. israel's president has invited the uae leader to visit jerusalem. gulfip no other senior ful leader has made since the founding of israel. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. belarus. thousands of workers join mass protests against president metander lukashenko who was with calls to resign. the long time ruler insists he will not step down and instead proposed changes to the constitution. the opposition leader says she is ready

it gives one of prime minister justin trudeau's top aides overseeing the economic recovery, one of his on some of the main issues, including renegotiating the north american free-trade pact. woman tos the first hold that position. in belarus, lukashenko has put alert.itary on it is an escalation of tension as he faces mass protests in the toughest challenge yet who is 26-year rule as there is a special summit to discuss the situation in belarus. european leaders may assign new sanctions. crisis hasal escalated in an area where the president was detained by the military. in a broadcast on state television, he said he had no choice but to comply after weeks of protests that alleged approach -- corruption. others have announced sanctions. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2,700 journalists and analysts in more than 120 countries. 10 minutes or so to go for the start of european equity trade, and the stocks we are watching next, including the german energy giant, rwe, raising a significant amount of capital to back it into renewables. more

the pan tele family farm is at the foot of the trudeau's mountains in western cyprus here they use only goats or sheep's milk for their home to me the way it's traditionally been made in cyprus for centuries. and the opposing view of the view of the milk is crucial to the whole louise good taste yes it was here in the region around the city of pa force the livestock find the most nutritious plants on the island. and his small dairy pantelis cantelli only makes cheese when he's got enough milk this time he only has goats milk 2. i take i spoonfuls of rennet a mixture of enzymes from the goat stomachs it curdles the milk i have the rennet to the milk at around 35 degrees celsius where it works best then the warm mixture is left to stand in the vats for about an hour. what remains is the liquid way and the kurds. pantelis pantelion his daughters press these into molds. once at a set it's heated once more in the way. finally they can serve the finish to lummi and brine until it's consumed. there's so many food ready how do you know me is in guster not make fun sure internationally and nowad

five months after leaving the bank of england, he is now an informal advisor to trudeau.y is also a u.n. special envoy on climate action and finance and an advisor to the u.k. on the now climate change conference. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. anna, matt? anna: next very much. laura wright here in london. u.k. employment has fallen by the most since the global financial crisis. 220,000 in the second quarter. coronavirus restrictions were at their most severe. that labor market crisis is expected to gather pace as government support is withdrawn. piya sachdeva is an economist at schroders and still with us. data,e had a swath of some better than anticipated in terms of the u.k. labor market story. maybe that is testament to the amount of protection the labor market is being protected from reality at this point. piya: exactly. we know that the labor market situation will become a lot clearer when it ends in october. to the extent we are looking through some of

rift with the a prime minister, justin trudeau over the response to the coronavirus and the ongoing scandalmberg sources say it will not be the former bank of england governor, mark carney. the u.k. government has been forced into a u-turn over downgrades. resultseed to let the be determined by future assessments. it downgraded thousands of results. it comes in the face of outrage from both parents and students. the education secretary admits there were problems with the system. carrie lam says she is having trouble using her credit cards. that is after the u.s. imposed sanctions on officials from the city. it was in retaliation for the new national security law. carrie lam says the restrictions are totally unjustified. says bahrain and sudan will likely be the next countries to make peace with israel. they are expected to follow the lead of the united arab emirates towards normalizing relations. the israeli president has invited the leaders to visit jerusalem. no other senior golf leader is known to have made since the finding of israel. global news, 24 hours a day, on air and on quicktake

pharmaceuticals so he says well we give up we can't do it i can't negotiate so i'm going to have justin trudeau do it for me. we are right if there was competition or free market competition in drugs in america the price would be low that's the beauty of free market capitalism the fact that you don't have free market capitalism for drug prices in america shows you have an entrenched oleg or monopoly and they gouge it's price gouging and he's right to try to dismantle that but without that kind of premium for these drugs for these companies to however i don't see how they're going to command the multiples they do on the stock market so he's he's got it that's the thing he's either going to take a 50 percent hit on the stock market or easy going to lose a lot of people that need the drug so it can it's arbitrage i think you figuring there are many millions more that would vote for him with lower drug prices than the people who will lose the vote of the stock market speculators on the pharmaceutical companies however he'll still get the pharmaceutical income because they he's not going after their

pharmaceuticals so he says well we give up we can't do it i can't negotiate so i'm going to have justin trudeau do it for me. we are right if there was competition or free market competition in drugs in america the price would be low that's the beauty of free market capitalism the fact that you don't have free market capitalism for drug prices in america shows you have an entrenched oleg or monopoly and they gouge it's price gouging and he's right these drugs for these companies to however i don't see how they're going to command the multiples they do on the stock market so he's he's got a tesla saying he's either going to take a 50 percent hit on the stock market henri's going to lose a lot of people that need the drug so it can it's arbitrage i think you figuring there are many millions more that would vote for him with lower drug prices than the people who will lose the vote of the stock market speculators the pharmaceutical companies however he'll still get the pharmaceutical income because they he's not going after their predatory practices he's just saying people you know medicare medicai

canadian prime minister justin trudeau is turning towards his most trusted aide to guide the economicecovery. financeneau as minister, having overseen canada's interests. she is seen as having enough authority to maintain fiscal discipline in a demonstration. days. has had a busy few almost $2 billion in new funding. it is valued at $46 billion. spacex is one of the most valuable venture backed companies in the u.s. fundraising comes in a period for tech, tesla soaring along with elon musk's personal fortune. global news, 24 hours a day on air and at could take by bloomberg, powered by more than 2700 analysts. i'm karina mitchell, this is bloomberg. haidi: with the dollar down to its lowest level since may 2018, erasing most of the gains built on the back of the u.s.-china trade tensions. let's see how the dollar weakness goes into the emerging-market debt. it could benefit some countries to recover faster, according to our next guest, denise simon. great to have you with us. let's start with the dollar weakness. given that you look at broader positioning across the market, it is not

we heard he had been in disagreements with justin trudeau over ballooning deficits.has disagreed over the huge amounts that canada was spending to combat the coronavirus, not to mention about some multi-did billion dollar greek -- multibillion-dollar green initiatives. he is now resigning from his post. let's get a quick check of the latest business flash headlines. tesla's rally has driven the valuation above that of procter & gamble as investors bet elon musk will be able to dominate the auto market of the future. the stock closed up 11% on a record despite reports of a fall in registration last month. tesla is up more than 300% this year with a market value of more than $340 billion. hasos chinese order reported a fall in profit as the coronavirus shutters plans and hammers demand. net income through june -- cutting annual sales targets to 1.3 million vehicles from 1.4 million vehicles. the pandemic has exacerbated an auto industry slump that has been threatening on for two years. bhp reported full-year net profit just shy of eight billion u.s. dollars, a 4% fall

babies man you got 2 young girls tell me about your wife marie she guys have really i let me show trudeau in yeah we have a reality show on on usa network ms and mrs new episodes are coming in the fall it's basically about my entire family which is myself my wife marie's who is a former or still a w e superstar and as well as she's a former. women's champion and then we have 2 daughters a 2 year old and a 10 month old and he think that household is a no no we have more we have 2 dogs you 2 cats we have 2 moms in the house yes i have my mother and my mother in law living with us right now as we speak it is absolutely pandemonium all the time in this household. it's like the waltons meets noah's ark you got a paring of everything rather if the rains come you can float away and have your entire life in the household so yeah there i would i want to ask you missed seeing as you start i guess you gravitated towards the real world you must i went to it from ohio i don't think they were out there scanning for paypal so you had to go solicit that thing after how do you know did you say you're in y

canadian prime minister justin trudeau is turning to his most trusted aide to drive the economic recovery and reset his government's agenda. she succeeds the other finance minister, having overseen canada's interests in the north american trade deal. she has enough political authority to maintain fiscal discipline in the administration. global news, 24 hours a day, on air and a bloombergquint take, powered by more than 2700 journalists and analysts in 127 countries. i'm karina mitchell, this is bloomberg. haidi: still ahead, jessica meir takes us through earnings coming out of australia. but we will speak to jeffrey back to and the strength of the chinese market. and global uncertainty. this is bloomberg. ♪ haidi: a 33 percent jump in revenue in results. it was driven by an infant nutrition sales in china and via a bigger distribution footprint. let's get some results, and whether they are sustainable, we are joined by geoffrey babidge. great to have you again. when we last spoke, this was back in february, you said there was a great deal of uncertainty of how the pandemic plays out. he w

it gives prime minister trudeau's top aide the job of overseeing economic recovery.involved in issues like negotiating the north american free trade pact. she is the first woman to hold the post. that is your bloomberg first word news. joe biden is officially the democratic nominee, taking on president trump this november. it was confirmed at the party's virtual convention overnight. traditional rollcall was restyled in the times of covid-19 as a video tour across the u.s. >> a president who defines the jobs as spending hours a day watching tv and -- people on social media is your man. if you are trying to entertain. but in a real crisis, it collapses like a house of cards. >> donald trump inherited a growing economy and a more peaceful world, and like everything else he inherited, he bankrupted it. when this president goes overseas, it isn't a goodwill mission, it is a blooper reel. he breaks up with our love lives and writes love letters to dictators. america deserves a president who is looked up to, not left at. >> joe biden will be a president are all proud to sa

ministeradian prime justin trudeau will make critical decisions in the coming weeks on the next steps to support candida's economic recovery. that will include whether to keep the only finance minister he has ever had. there's been speculation that the relationship between the evite -- between the prime minister and bill morneau has been tense for some time. bloomberg has learned the two men will meet face-to-face today. global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more i'm markcountries, crumpton. this is bloomberg. david? david: the coronavirus has scribbled the united states and really driven a wedge even further between republicans and democrats in washington. let's be honest, it's also divided democrats during the primaries, raising questions about a biden administration would mean for health care in the united states. we welcome kathleen sebelius, former health and human services secretary. thank you so much for joining us. you were involved in the primaries in the sense of advising kamala harris. we came up

justin trudeau will name her to replace bill morneau, who quit after a rift withdrew to proved impossiblepair. she will be the first woman to hold a position. u.k. and european union officials have the next seven weeks to hammer out an agreement over their future relationship. after a brief summer hiatus, discussions will resume in brussels today. the two biggest sticking points remain what access eu vessels will have two u.k. fishing waters and how closely britain will have to follow the blocks rules to ensure a level playing field. global news 24 hours a day, on-air, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. david: thank you so much. perhaps the most telling show of unity in the convention last vermont senator and former presidential candidate bernie sanders spoke. who supported other candidates in the primary, and to those who may have voted for donald trump in the last election, the future of our democracy is at stake. the future of our economy is at stake. the future of our planet is

canada's finance minister resigned on monday amid friction with prime minister justin trudeau over spendingown after it was revealed he did not repay travel costs of us$31,000 covered by the charity while on an overseas trips to see its work. he says he has since written a cheque. and 0racle has held preliminary talks with tiktok‘s chinese owner, bytedance, and is seriously considering buying the apps operations in the united states, canada, australia and new zealand, the financial times newspaper reports. oracle is working with some us investors that already have a stake in bytedance, including general atlantic and sequoia capital, the newspaper reported. stay with us on bbc news. we will continue our series on how education has been impacted by the global pandemic. we will be taking you to the us for more on that. first, though. some of the uk stories making news today. kent county council has said it can no longer safely care for unaccompanied minors who arrive across the english channel to seek asylum, after 23 children were taken into care on a single day last week. the government says

countries, that's necessary because i've said from the outset on the first g20 call and prime minister trudeauas kind enough to sort of acknowledge this as well, that we can't just say this is a health crisis. of course it is, it's the worst pandemic seen in a hundred years, but it's also the worst economic recession, possibly a lot worse, that the world has seen since the great depression and these two things are happening at once and these things are happening at the same time, at a time of quite considerable strategic competition, so you have the overlying strategic instability factor. particularly in our part of the world, which indeed makes these regrettably interesting times. >> and while we have the same debate here, it's strategically different decisions made. and i am curious as to, you know, as a conservative, how you made those decisions to do things like expansion of unemployment benefits and child care aid in particular. i mean, it's painful to have to spend like that, but you're saying in the midst of the crisis, you can't cut back on spending, fundamentally that's your convictio

this but he established a trading relationship and at the end of the 1960s, our new prime minister trudeauiewed the policies anthe policy thinka conclusion, and i think he was right, that is absurd not to recognize the people's republic of china in 1970 actually, we establish a diplomatic liaison office in beijing and the chinese established one in ottawa and we move towards full recognition. c-span: bring us up to date in your own career. i see on the jacket of the book you are moving to oxford. >> guest: very happily ensconced at the university of toronto and head of a college. i wasn't thinking that that i d do in my term ended, which is ending in june. i got a phone call about a year and a half ago from a place at oxford saying that i'd be interested in being there for them which isn't quite what it sounds like. it doesn't mean running it like a prison. i did my graduate work there so i know it. c-span: how big a college visit? >> guest: about 250 all graduate students and 50 fellows and adidas international relations. so it's sort of write up my street and i thought it would be too go