u.s. supplier is direct as they lose a customer. if the u.s. removed huawei from the entities list, that would be a solution. tom: what impact are you seeing on demand for your 5g equipment given the u.s. pressure campaign on some allies around the world to block access to huawei? mr. hua: although the u.s. has been launching a campaign among its allies, it is up to each country to decide its partners based on its own development demands, telecommunication demands, and carrier infrastructure construction demands. i think now there might be some impacts in places like australia, but there are others who are willing to work with huawei. tom: when it comes to components, you have said that you are still blocked from some of your key suppliers. can you give us some clarity on who those suppliers are, and tho fill those gaps? mr. hua: we might have some components that we can't buy from the u.s., but we will use our own components to supplement. smartphone operating systems like google's operating system and ecosystem haven't resumed business with u

u.s. supplier is direct as they lose a customer. if the u.s. huawei from the entity list, that would be a solution. >> what impact do you see more demand for your 5g equipment given the u.s. pressure campaign on some of its allies around the world to block access to huawei? >> although the u.s. has been launching a campaign among its allies, it is up to each country to decide his partners based on its own development demands, telecommunication demands, and carrier infrastructure construction demands. there may be some impacts in australia but there are others we are willing to work with -- others willing to work with huawei. of europe's largest banks reported earnings this week and their chief executive spoke with bloomberg about the larger economic picture and the challenges facing the european financial industry. let's start with credit suisse ceo who said dovish central banks have been a drag on the sector. >> they do not make life easy for us. particularly negative interest rates are a challenge. we have different interests, our revenue, we

u.s. suppliers? primarily, our ongoing communication with our u.s. t that, our continued partnership with these suppliers. i think the concern we have going forward is related to the impact this will have on the u.s. economy. we're talking about $11 billion annually spent by huawei on goods and services in the u.s. with u.s. companies. oft is a significant amount dollars in the u.s. economy, but it also translates into a large number of jobs. if you look at economic indicators, that is equating to somewhere between order thousand and 50,000 jobs. and these are not typical manufacturing. these are highly paid, highly skilled jobs in the american there are a time when questions about the stability of the american economy. emily: that was huawei's vice management and partner relations. this is bloomberg. ♪ . ♪ emily: two of the biggest names in the technology world sparred -- on issues ranging from ai to the future of education. jack ma took a shot at elon musk's mars dream. >> i think it's easy to go to mars when you go on the top of the hills of the bu

u.s. companies are now supposed to already be banned from doing business with chinese tech supplier while way but the u.s. is commerce department has again given wall weigh in 90 days take its 2nd one in a row to move about odds with the u.s. president donald trump's harsher messaging towards the company leaving many unsure of what to expect when the current reprieve and in november. when the u.s. spawn on one way it was announced 3 months ago it was a big deal for the likes of google as it meant it wouldn't be able to sell updates of its droid software to while away phones many other u.s. companies such as the chip makers qualcomm and broadcom would also be affected. but over the weekend speculation grew that the u.s. would postpone the ban on monday u.s. commerce secretary wilbur ross confirmed news of the 90 day reprieve saying it was to help u.s. companies prepare further for a time when there would not need while with some of the rural companies or dependent on more ways to agree moomaw turn to wean themselves off but there are no specific clothes and food is being granted through any

u.s. supplier is direct as they lose a customer. if the u.s.ed huawei from the entities list, that would be a solution. tom: what impact are you seeing on demand for your 5g equipment given the u.s. campaign to block access to huawei? mr. hua: although the u.s. has been launching a campaign among its allies, it is up to each country to decide its partners based on its own development demands, telecommunication demands and carrier infrastructure construction demands. i think there might be some impacts in places like australia, but there are others who are willing to work with huawei. tom: when it comes to components, you have said that you are still blocked from some of your key suppliers. can you give us clarity on who those suppliers are, and the success have had, or not, on finding alternative suppliers to fill those gaps? mr. hua: we might have some components we can't buy from the u.s., but we will use our own components to supplement. smartphone operating systems like google's operating system and ecosystem haven't resumed business with u

u.s. suppliers. >>> san jose crash is backing up traffic in the city's willow glen labor hood. it happened at curtner and meridian avenue. police say it is causing major traffic issues. we got a look at the mess where traffic were a truck and two suvs appear to have mixed up in the middle of the street. another car was also involved. the driver side smashed in. thankfully police report there were no injuries and have asked the drivers to avoid the area. >>> changing hearts and changing minds. changing our approach to dealing with one another. >>> coming up but is start a national trend? the new rules on when california police can use deadly force. >>> direct the were your family on the defense. why a princess getting dragged into jeffrey epstein's scandal. the royal family. >>> a flying mattresses. >>> >>> the state of california adopted some of the nation's strictest use of force laws for police. governor newsom signed a bill limiting when police can open fire on suspects. the new law requires police to use deadly use of force only when necessary and only in the defense of a h

u.s. suppliers is being delayed while i will be allowed to continue buying components from the u.s. which are used in its current products the commerce secretary wilbur ross says it's to give american companies time to court we need themselves off what way. and the new york city police officer has been fired 5 years after the death of eric garner in a fatal chokehold you know police commissioner james o'neill made the announcement based on a recommendation of a department disciplinary judge officer daniel prince a lawyer was recorded wrestling gonna back in 24 take. those are your headlines and side story with muhammad. it may be special but the close relationship between trump and netanyahu is causing controversy the decision to bar to congresswoman from entering israel has since shock waves through both countries so what does that mean for the long term ties between the u.s. and israel this is inside story. hello and welcome to the program i'm homage and israel's recent decision to ban a visit by 2 u.s. democratic congresswoman has drawn a lot of controversy within the 2 allies th

u.s. suppliers, chipmakers, for example, who are really intent on making their product available to huaweiand we think some of these manufacturers have found ways around to the embargo. you remember last night bloomberg broke the news that the process of filling out applications to cellular components to huawei is on hold. those applications are sitting on someone's desk and no action has been taken on them while the trump administration continues ratcheting up pressure and china, in turn, retaliates. emily: we will talk more about the trade dispute and its evolution later in the show. thank you was always. coming up, we will discuss the fight to end online extremism with the chair of the house homeland security committee. this is bloomberg. ♪ emily: the white house close the week holding a summit with various tech associations and companies. the goal? trying to find ways to fight online extremism. the white house press secretary tweeted that the conversation focused on how technology could be leveraged to identify potential threats. he added, we urge social media companies to continue the

u.s. for our business. suppliersed supplying us, so we had to make adjustments to our supply chain, including our process of purchasing, manufacturing, and delivering products. we will do adjustments to our supply change and change to other suppliers and use our own chips for the core components. i think the damage to the u.s. suppliers is bigger. we will have to increase our workload and manage continuity. from theremoves huawei entity list, that would be a solution. >> what impact are you seeing for demand for your 5g equipment? u.s. has beene launching a campaign amongst its allies, it is up to each country to decide among its partners, if medication demands and construction demands. right now there may be some impact in places like australia, but there are others willing to work with huawei. tom: when it comes to components, you say you are blocked by some key suppliers. can you give us clarity on of who those suppliers are, and the success you have had, or not, of finding alternative suppliers? >> we might have

u.s. suppliers like intel and others to huawei for new products going into the future. they are still prohibited from doing that. this is a limited move. we need to be careful about over interpreting this. there is still a crackdown happening on huawei. the department of commerce added 46 new huawei subsidiaries to its blacklist today, but at least a temporary reprieve for some u.s. customers and a limited suite of suppliers. that is anid: important distinction. thank you so much. now let's go to carolyn in frankfurt. we had a report germany will move ahead, the finance ministers and 50 billion euros. what we know about what they are planning? carolyn: just a backup, we heard from the bundesbank earlier that they see the german economy potentially facing the risk of contracting in the third quarter. , that wouldarters mean we find ourselves in a technical recession. we're are also hearing from sources close to the government that the government is looking at stimulus measures that could target the domestic economy. in the past, what we have seen the government do in tho

u.s. suppliers with huawei including qualcomm, google and intel. the department of commerce said it could not confirm the licensing news and declined comment. >>> take a look now at hong kong's airport right now. more on the growing crowd of protesters next. >> amazing pictures there. >>> and an entire airport comes to a halt to honor a vietnam pilot's remains. (client's voice) remember that degree you got in taxation? (danny) of course you don't because you didn't! your job isn't doing hard work... ...it's making them do hard work... ...and getting paid for it. (vo) snap and sort your expenses to save over $4,600 at tax time. quickbooks. backing you. [♪] check your credit scores for free and learn how to improve them at creditkarma. here's to progress. >>> a new wave of protest is underway in hong kong. this time pro democracy demonstrators are targeting the airport hoping to win over international support from passengers arriving in the city. this as the u.s. issues a travel warning due to hong kong's ongoing and sometimes violent protests. ben w

u.s. suppliers will heavily impact the u.s.>> we are talking about 11 million dollars spent on goods and services in the u.s.. with u.s. companies. that is a significant amount of dollars in the u.s. economy. it translates into a large number of jobs. >> joining us now, the managing director of portfolio strategy and asset allocation. your take on the trade war. would a trade truce be good enough for investors to pile back into the market? so. would say the key thing has been growth. manufacturing recession. growth being in the soft side. reason, trade is the trade relief would be a powerful catalyst. we know the market has been pricing growth pessimistically. the risk premium is high. in the credit market, you have it seems like if you get growth optimism because of trade, it could be powerful. whether a truce would be enough, why would that be enough? walked back on that. i am trying to figure out what the market is getting so excited about. not ae alone is significant thing. it feels like you had an escalation. there is a po

u.s. suppliers of huawei that included qualcomm, google and intel. the department of commerce would not confirm the news and declined to comment. >>> speaking of china, take a look at hong kong's airport right now. more on the growing crowd of protesters there next. >>> and an entire airport comes to a halt to honor a vietnam war pilot's remains. i'm finding it hard to stay on top of things. a faster laptop could help. plus, tech support to stay worry free. worry free. boom! ha.ha. boom! now save up to $200 on all lenovo products. save up to $200 at office depot officemax or officedepot.com. he borrowed billions donald trump failed as a businessman. and left a trail of bankruptcy and broken promises. he hasn't changed. i started a tiny investment business, and over 27 years, grew it successfully to 36 billion dollars. i'm tom steyer and i approve this message. i'm running for president because unlike other candidates, i can go head to head with donald trump on the economy, and expose him fo what he is: a fraud and a failure. we're going all in thion

u.s. suppliers. apple has been a strong opponent of tariffs on chinese imports, but that's one of the president's primary issues. apple has not commented on the president's tweet. >>> much more ahead for you on "today in the bay" this morning. coming up, not enough educators on campus. the reason the south bay is having a tough time keeping teachers including subs. >>> also it's time to clear the shelters. nbc and telemundo tea up to find pets a forever home. oh thaphenomenal!, that's unfair. that's so unfair. c'mon jay-bo. let's go. let's go. woahh! try my $4.99 bbq bacon double cheeseburger combo. only at jack in the box. to the wait did frowe just win-ners. prouders everyone uses their phone differently. that's why xfinity mobile created a different kind of wireless network. with a different way to do data. one designed to save you money. now you can share data between lines, mix with unlimited, and switch it up at anytime. design your own data with xfinity mobile. it's wireless reimagined. simple

u.s. suppliers on agricultural products like soybeans, cotton, sorghum.hey have applied for exclusion of increased tariffs on these products. reporter: technology sales to huawei not coming off the epty list. but there are applications, 50 to get -- charles, president not happy what he heard with the briefing. we're looking more tariffs going into place september 1st. charles: here to react to the president's comment, new tariffs on china, david dietze from point view wealth management, also jason rotman lido isle advisors. jason, let me start with you. out of left field. i thought wall street put this in the rear view mirror even when the delegation came back. no one now believes the deal will happen anytime soon, but this does change the dynamics. >> absolutely. we thought we were getting back together. robert lighthizer and mnuchin went back over there and things would be on a even keel. that is obviously not the case. a couple things to remember. one of course ultimately all the incentives in the world for both sides to come to a deal. that is what is

u.s. suppliers pushing back saying we're not taking that price or maybe absorb half and pass half along or because the economy is so strong, we don't notice does it continue to hurt business investment more so than actually have a real impact on the u.s. economy >> absolutely to the extent you can get that accomplish ed and either find another source for that good or push back and try to split that. it's still affecting your margins and it affects to a larger extent the lack of confidence that businesses have right now. so much larger part of what's going on in the u.s. china trade war is is not the math the economics of what 25% is on 250 billion. it's the confidence factor that's just not there. you stop making decisions. you put off decisions until there's an end game to this. this feels like this just move ed that out. this is a much more elongated u.s. china trade war the market was able to conpartmentalize this and say as long as we don't escalate, we can deal with what we're doing and now the market's been thrown out. >> there's lots of speculation in the market right now, i'll ask

u.s. suppliers is being delayed while we will be allowed to continue buying components from the u.s. which are used in its current products the commerce secretary wilbur ross says it's to give american companies time to wean themselves off what way washington accuses the telecom and phone manufacturer of building a backdoor for chinese intelligence services into its new 5 g. networks more from our white house correspondent kimberly how could. the announcement by the u.s. government has been given another 90 day reprieve now the day that those sanctions will take effect is november 19th is coming as a bit of a surprise given the fact that u.s. president donald trump said one day earlier he did not expect another reprieve to be granted now in the midst of all of this there are a number of factors that may have come into play with this decision to delay putting in place the penalties on wall way that prevent u.s. companies from doing business with the chinese telecom giant sensually it is a bargaining chip in the ongoing trade war turned currency war between the united states and china

u.s. suppliers is being delayed while way will be allowed to continue buying components from the u.s. use in its existing products the commerce secretary wilbur ross says is to give american companies time to wean themselves off way washington accuses the telecom. ahman phone maker building a back door for chinese intelligence services into its 5 g. mobile network live to washington correspondents following the story for us can really help at kimberly is this mr ross being nice to while away or being nice to american coot consumers the people who use their services. yeah this is all about the domestic audience in terms of this announcement it's not the 1st time as soon as huawei was added to the so-called entity list essentially banning or putting in place the sanctions that prevented u.s. companies from working with wall way it was immediately put into sort of a reprieve and now we have the 2nd one another 90 days and so essentially by november 19th now u.s. companies have time to in the words of the u.s. commerce secretary we off from doing business with while way it shows that esse

u.s. suppliers needed to look for a new supply chain that really sent the market tumbling the day started flat and then tis a patient with the lingering knowledge that the announcement was coming from powell in the day and now it's gone down more than $400.00 points. on this news more than one and a half percent and that's because the united states does so much trade with china obviously it imports some $558000000000.00 in chinese goods earlier in the week we had reports that corporate earnings were not so strong ironically retail was one bright spot retailers like target and wal-mart doing well now with news that this trade war with china is intensifying retailers exactly like that are also going to see problems in their profit and their bottom line so when the president says it's time to look for alternatives in terms of trade you see what happens with investor confidence it's just been shattered in plummeting since that since those tweets earlier in the day. the stock exchange a new york finest person. brazil's president says he may send in the army to battle fars burning through the f

u.s. suppliers needed to look for a new supply chain that really sent the market tumbling brazil's president says he may send in the army to battle fires that are burning through the amazon forest the number of fires is nearly doubled compared to last year more leaders are calling it an international crisis and they're demanding action french president emanuel not told what's urgent talks at this weekend's g. summit iran's foreign minister has hailed positive talks with the french president on solving the 2015 nuclear deal judd said he says both countries have made suggestions in how to move forward after the u.s. pulled out of the deal last year michael has previously said he will try to soften the impact of sanctions or compensate the rainy and people the syrian army is advancing deeper into rebel held territory the military says it's taken towns and villages in hama and southern italy government forces and meters away from turkish troops in malta dozens of palestinians in gaza are rallying after a tense week at the border with israel it follows at least 3 incidents of rocket fire and air

u.s. is slowing down. we are the largest supplier of aluminum to the u.s.. third of we are below supplier of copper in the u.s. the fuel responsible. we could see the softness in the market, and we could see the softness in the construction market for some period of time. we could see the economy slowing down. we were not surprised by the fed's response. in terms of quantum, i don't know if it will be sufficient or not. guy: it looks like the trade story is going to drag on, possibly until after the 2020 election. how does that change your view of the markets that you are exposed to? you already talked about china and the united states. how does that change the trajectory of that drugs on? jean-sebastien: we look at the mattress, the blame of normal credit -- when you look at the metrics, the value of normal credit. let me step back. [indiscernible] we are looking at trade in a very careful manner. trade is high this year. i am not concerned today about my about trade today? no i am not. all of our models are showing it would take a long situation to have a

u.s. chip companies and other suppliers will be able to sell products to huawei. ss, sarah mcgregor who leads economic coverage, coverage of u.s. economic policy for bloomberg joins us now. we are talking about rural mobile networks. how much does this reprieve actually helped huawei? sarah: according to huawei itself who a statement today, this really does not help their business a lot. they still see the blacklisting of the company as an unjust move, as they put it. the trump administration gave this 90 day extension which really was an olive branch to u.s. companies that do business with huawei and the consumers who use those networks or smart folks where that reprieve will be necessary to keep those things going. in addition, the trump administration and 46 more affiliates of huawei towards the blacklist from all over the world. it offered this small reprieve but it piles the pressure on huawei more too by adding those affiliates to the blacklist. emily: now, continuing mixed messages from the president and the administration, the president saying he was not so

u.s. independence from unreliable foreign suppliers. our concern is the ability of domestic manufacturing capability to adjust to that risk come alternate sources if any, and how long it will take to produce results. have existed for some time and they are growing as the opening statements said. there is not a single solution to these challenges. it requires a sophisticated approach that entails national security, economic, health, and diplomatic considerations. we are working closely with colleagues in dod and across the federal government toward this end. thank you again for inviting me tospeak with you today, and demonstrate how we currently integrate our efforts with dod and other agencies to better support health and readiness for those we are proud to serve. i look forward to answering your questions. healthide and ensure delivery across a number of partners who are responsible for management and administration of our military treatment facilities. as you may know, we have transitioned that to the defense health agency. tri-careai

u.s. customers and limited suppliers. matt germany could spend 50 : billion euros in an economic crisis.hat is according to the finance minister all off schultz, -- olaf schultz who has put a , number on the stimulus. fears of a recession pushing berlin to consider suspending its balanced budget policy. >> that is what germany spent in the last crisis. we now have the firepower to use that money. we have been lowering our debt to below 60%. >> we heard from the bundesbank today that a recession is entirely feasible with a contraction in the third quarter is possible. we heard -- the government does have the money. it is running a surplus. to 6%ebt burden is down gdp and declining. if it does decide to spending is needed, the cash can be found. >> in italy, the prime minister announced he is going to resign. salviniattacking matteo who was sitting next to him. salvini calling the decision to spark a political crisis irresponsible motivated by , personal ambition. >> he is going to resign in a couple of hours. he is going to hand his resignation to the president. tomorrow, likely tomorrow

u.s. to give suppliers in the u.s., give companies in the u.s.ed, or maybe are ort of huawei's lines, whatever, a chance to break out there. it also gives u.s. and chinese negotiators an additional period of time before some big/no go bid. huawei has been a giant sticking point for the china side. it has been something that president donald trump and the u.s. has said that they will not deal with until the end of the trade negotiations. i don't need to tell you and i probably don't need to tell most of your viewers that those trade talks have not been particularly fruitful over the last couple of weeks. ist you are looking at here an extension. you are looking at taking it down the road a little bit, putting this into november, and dealing with it later. pretty much. are we going to be an a different situation in november than we are now? i don't know. it's too early to say. right now there has not been a ton of progress. this is not as bad as it possibly could have been for huawei, considering some of the presidents more bellicose rhetoric over

u.s. borders, china is no longer the supplier, the demand that it was, and that has brought the eurozone down. it looks like economies have gotten considerably weaker or absent the u.s. consumer. when they start losing their jobs, and there is early evidence that is about to start happening, then that is when his start to feed off of itself in a negative fashion. for me, the data is what is most important, and that has justified a treasury rally. gregory: i don't think we see the data. we have seen it in manufacturing but look at retail sales this week. we are at 50 year lows for unemployment. i would rather the fed hold onto its ammunition, ca payroll spread that is doubled it is rather than triple digits and then react. right now they are hearing footsteps. jonathan: we have seen the bull flattening come through in august. what has also been interesting is what is happening in credit. a flight to quality, investment-grade having a fantastic august. bb's outperforming ccc's. is that something we should get behind? priya: i think we should. it is different from the fourth quarter of last year

u.s. companies are increasingly viewed as unreliable suppliers. while this issue is top of mind, the more pernicious long-term concern for u.s. companies in the market is that china's playing field is increasingly unlevel. what we hear from companies, the chinese government policies and practices frequently offer competitive advantages to domestic companies, not offered to foreign ones. so the key point that we see from our survey data is that optimism that u.s. companies can participate in china's future economic growth and development is moderating. while the most significant concern is the u.s. china trade - frictions, the reality is china's domestic policy environment, particularly the policies that favor domestic companies over foreign ones is the trend most likely to negatively impact u.s. companies outlooks on their ability to compete in the china market in the years ahead. so looking specifically at some of the data points, let's begin with a positive note. the overwhelming majority of u.s. companies are profitable with 97% of companies rep

u.s. chip companies and other suppliers will be able to sell parts to china. mark: the u.s.t for any technology player that wants to be relevant. you cannot just be situated in one area. apple goes beyond the united states and huawei's ambitions are to go beyond asia. at proves the point of how vital the networking giant business is across the world and for the company and other u.s. companies. this issue like some others is pointing to, there is a point at starts hurting the u.s. emily: it is almost impossible to separate huawei from the trade war and china has said they will prevent certain u.s. companies or foreign companies from doing business in the u.s. this has been happening for a long time, cue facebook and twitter which have not been able to operate in china for almost a decade or more. pieces fit together in the broader narrative as the u.s. and china try to hammer out a deal? sam: the answer is that these pieces don't fit together. there are competing end games for what this administration is actually trying to accomplish. you have a growing number that want to k

u.s. customers and limited suppliers. matt: germany could spend 50 billion euros in an economic crisis. that is according to the finance minister olaf schultz, who has put a number and on a possible fiscal stimulus for the first time. fears of a recession pushing berlin to consider suspending its balanced budget policy. >> that is what germany spent in the last crisis. we now have the firepower to use that money. because we have been lowering our debt to below 60%. >> we heard from the bundesbank today that a recession is entirely feasible with a contraction in the third quarter a possibility. we also hear from people familiar that the government is looking at potential measures for a stimulus package. so we are focused, and the government does have the money. it is running a surplus. its debt burden is down to 6% gdp and declining. that is a lot better than its peers. so if it does decide to spending is needed, the cash can be found. afternoon, this prime minister giuseppe conte announced he is going to resign. sharply attacking matteo salvini, who was sitting next to him. salvini, of

suppliers. and staying in the tech sector u.s. prosecutors charged a former google employee with stealing company secrets and selling them to the former high ranking robotics engineer is accused of downloading thousands of files from way more servers before joining over 2015 charges stem from a trade secrets lawsuit between google spin of way more and over which the right hand in firm 7 last year for about $250000000.00 the work was just beginning itself driving unit at the time. now with so many economists predicting a downturn in britain's economy after it leaves the european union it is easy to forget that a growing number of many britons are already living in heartbreaking poverty many municipalities are struggling to go after the needs of the poor so church groups such as the hope house in nottingham are mobilizing to provide really. lunch is served. pigs in blankets pasties english specialties jokes nigel adams the founder of hope house which provides food for people in need in nottingham. called across the u.k. the 5th rich

u.s. chip company and other suppliers will be allowed to sell parts china. fkin. ♪ >> the u.s. is an important market for any technology player who wants to be relevant. in order to be relevant, you can't just be situated in one area. apple goes far beyond the united states and will always ambitions are to go far beyond china and india in the asia-pacific. this is definitely hurtful for huawei and proves its point about how vital the networking giant business is across the world and for the company and for other u.s. companies. this issue like some of the others is pointing to and weighing -- there's a point where it starts hurting the u.s. >> it has become almost impossible to separate huawei from the trade war, and in the meantime china has said they are going to prevent certain u.s. companies or foreign companies from doing business in china. in the bigger picture, this has been happening for a long time. q facebook and twitter, which we were just talking about earlier, which were able to operate in china for almost a decade or more. pieces fitof these tog