vonnie: u.s. equity index futures are trying to decide on a direction, pivoting between unchanged and little down. we had anemic volume in the u.s. yesterday but we had all the major indices up more than 1%. that snapped a seventh session streak of sub one-percent moves. it's not something we have been used to since the cpi data. waiting on the direction for the equity index futures but the s&p 500 finished the session above -- have a look at new york crude, up $.18. we look like we have the european union softening sanctions, so we will keep an eye on fossil fuels. bitcoin counting back from a session low as the judge ruled the identity of major ftx creditors can remain secret. a substantial amount of ftx assets are missing or stolen. a lot of investors have had their confidence encrypt though shaken already. what are they to do now? su: one of the more memorable quotes was that the former ceo is a case of the emperor has no clothes. that underscores the confidence. you did see a bounce across th

let's get to vonnie quinn in new york with the first word news. vonnie: the u.n.'s atomic agency says powerful blasts have shaken the area around the nuclear power plant. this includes more than one doesn't sunday morning. they say some buildings and systems were damaged but none critically. ukraine's nuclear regulator says russian forces struck the facility, but russia blames ukraine for the shelling. the imf says the rise of trade barriers against china and other countries could cause -- cost of the global economy $1.4 trillion. the potential loss for asia could be more than 3% of gdp because the region is more integrated into the global value chain. she wants asian countries to work together to on what --to overcome fragmentation. >> the war is going to lose 1.5% of gdp just because of divisions that may split into two trading blocs. this is $1.4 trillion. for asia, the loss is much more significant because asia is much more integrated in global value chains. it could be 3% or more. vonnie: the u.s. and china have resumed formal talks on climate change. the two

i'm vonnie quinn.his is bloomberg. >> malaysians go to the polls on saturday with uncertainty running high. foreign inflows may be at risk with -- appearing elusive. what is different about these elections? >> since the shock defeat of the party that won 13 out of 14 elections in 2018, malaysians have been trying to move away from identity politics. he wants stability, integrity, and like most people they are facing rising living costs. what is at stake is the economy. in terms of moving away from identity politics, we know the former prime minister is in jail serving 12 years for his part over 1mdb. then there is the reigning prime minister putting his hat in the ring. let's look at the main contenders. >> malaysians ruling party has one in election since independence except the last one. in 2018, tainted by the 1mdb scandal, the prime minister and his party was swept from power replaced by the longest-serving prime minister. he had campaigned and was pardoned from a jail sentence and promised the lea

vonnie: sources say the u.s.een working on a sweeping examination of crypto and was looking into ft ex-pence before it's collapsed. the law requires financial institutions to take steps to prevent money laundering and terrorism financing. china's financial regulators have asked banks to stabilize lending to property developers and construction firms. it's china's latest bid to bolster economic growth. it may signal a willingness to shift away from the government's previous tightening stance on the sector. seven european football teams have decided against wearing rainbow armbands at the world cup to show solidarity with lgbtq rights. the decision follows pressure from fifa which suggested referees would yellow card players for the show of support. the england captain wore a fifa approved armband saying no discrimination, homosexuality is not a crime. 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 vonnie quinn. this i

let's get the vonnie quinn with headlines. vonnie: u.s.e department to seek accountability from fds -- stx executives. elizabeth warren urged doj officials to focus on the harm done to customers and prosecute those responsible. lawmakers in the house and senate, including warren, have opened probes into ftx. malaysia remains in political gridlock five days after elections with a split in the former ruling coalition the king has called on to join a unity government. the chief is facing calls to resign for allegedly misrepresenting the block's chance to the monarch. lawmakers have asked for more time to decide whether to back the opposition leader or the former prime minister. talks between european union nations to cap the price of russian oil hit a snag. governments are divided over how to design the plan. the executive arm proposed a level of $65 a barrel, which some rejected as too generous. talks could reconvene later thursday if a deal is not reached. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than

i am vonnie quinn.i: cofounder jesse powell says his company does not have any exposure to ftx assets. in an interview powell discussed the impending collapse of the crypto exchange, and what it could mean for the broader crypto market. >> what might remain of ftx, which from the outside looks like a pretty big crater, and i think they took a look at it and decided this was a hole to big to fill with too much radioactive regulatory scrutiny around it, which looks like it might've been a pretty big headache to deal with. right now it looks like ftx might be headed into a bankruptcy process, the likes of which we have seen frequently recently, unfortunately, and for some like the clients of voyager you might be aware ftx was appointed manager to pay out the voyager process required those accounts, so it is history repeating itself. we saw another situation back in 2014 when another trustee and deposited funds into mount ga wks, which got hacked, and clients got a double penalty. still waiting 10 years lat

muskets vonnie quinn.e: they are stepping up pressure on the fed after recent fx losses, she has written to powell after two more incidents she calls agree just an embarrassing. atlanta fed president revealed he has revised his financial disclosures and jim bullard attended a citigroup event with no media present. brazil's president-elect lula will unveil a multibillion-dollar spending plan to pay for social aid, the first test before taking power as he needsb constitutional cap. lula promised to boost economy for poor families and exempt people from income tax and increase the minimum wage. new york prosecutors say they seized almost $3.4 billion in bitcoin for a property developer who scammed the dark web could place, silk road. investigators found more than 50,000 coin, he was arrested last week and pleaded guilty to wire fraud. it's the second largest crypto seizure for the u.s. justice department. elon musk is telling his twitter followers to vote republican. the twitter owner says he recommends a rep

let's get to vonnie quinn. vonnie: andrew bailey says the u.k.ond market is still not able to absorb a massive sale of assets. his remarks highlight the upheaval in financial markets in the u.k., following liz truss's you fed budget statement. he also said the central bank was not properly briefed on the extent of the fiscal statement. sources say argentina's central bank expects to keep its key interest rate unchanged at 75% until next year. we are told the central bank is preparing to hold if that forecast is confirmed. the estimate suggests monthly inflation could slow to 5.5% in november, down from 6.3% in october. blockfi will try to collect about $680 million owed by ftx's alameda. the company made its first appearance in bankruptcy court, seeking approval to keep operating, it's also developing a plan to repay creditors owed more than $1 billion, by re-organizing or finding a buyer. bloomberg learned that biden administration might label the russian mercenaries known as the wegner group, a foreign terrorist organization. the leader is a to

vonnie quinn has the first word headlines. vonnie: thank you.t have reset the relationship between rich and poor countries. a move without a single opposing voice the agreement rates of fund that helps evolving nations face the devastation of climate change. while it is a historic victory, negotiators failed to secure cuts on greenhouse gas emissions. the u.s. and china have resumed formal talks on climate change. china's climate envoy says the two countries have agreed to discuss losses and damaging developing nations are experiencing because of climate change. any new deal should mirror the paris agreement. turkey has carried out airstrikes against u.s. backed militant groups in iraq and northern syria. the defense ministry says the rates were to eliminate the terrorist threat and come after a deadly bombing that targeted civilians in istanbul. global news, 24 hours a day. on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm vonnie quinn. this is bloomberg. haidi: all right, let's get

on vonnie quinn.loomberg. >> coming up, as foreign trouble recovers, regional carriers are racing to meet runway demand. we speak to the association of asia pacific airlines next. this is bloomberg. ♪ >> taking a look at treating when it comes to equities as well as the bond markets here in australia. we are seeing the risk on approach continuing. we are seeing kiwi stocks extending the gains by over 2%. we are also watching the gains a process trillion bond markets as well. -- across australian bond markets as well. chicago nikkei futures also looking quite positive there as well. >> here is a quick check. ralph lauren's revenue in china rose 30% less quarter. despite a third of its stores being closed. the ceo says the brand is benefiting from popularity among younger shoppers. china only generates about 5% of total revenue. but it is a critical revenue for the market. because prices are higher. smic's third-quarter earnings missed expectations despite seeing the 47% jump in income. the chipmaker al

i'm vonnie quinn. this is bloomberg. ♪ haidi.aidi: still ahead, market reaction to the fed's latest hike. we will be discussing with icapital's anastasia amoroso later. this is bloomberg. ♪ >> today the fomc raise our policy interest rate by 75 basis points. my colleagues and i are strongly committed to bringing inflation back down to our 2% goal. if we don't get inflation under control, because we don't tighten enough, now we are in a situation where inflation will become entrenched. we have both the tools we need and resolve it will take to restore price stability on behalf of american families. it is very premature to be thinking about pausing. when people hear lags, they think about pausing. we still have some ways to go. incoming data since our last meeting suggests the ultimate level of interest rates will be higher than previously expected. we have some ground left a cover here, and cover it, we will. kathleen: that's jerome powell opening a new phase, gaining control of inflation. a hard-fought battle. for analysis, let's

this is bloomberg. ♪ vonnie: i am vonnie quinn with the first word headlines.dent biden and xi jinping have agreed to a series of goodwill gestures after a three hour meeting on the sidelines of the g20 summit in indonesia. they agreed to resume cooperation on issues including climate change and food security, and to warn russia against using nuclear weapons in ukraine. but differences remain on key issues like human rights and taiwan. >> i absolutely believe there need not be a new cold war. i do not think there is any imminent attempt on the part of china to invade taiwan. and i made it clear that our policy in taiwan has not changed at all. vonnie: fed vice chair lael brainard says the central bank should soon slow the pace of its rate hikes. she said it would take time for the fed's hikes so far to flow through. the comments suggest she is in favor of switching to half-point hikes as soon as december. u.s. federal prosecutors are said to be investigating the collapse of cryptos change ftx. the u.s. attorney for the southern district of new york is handling

vonnie quinn. this is bloomberg. juliette: still ahead, morgan stanley's head of india research and equity strategy joins us to discuss his latest research paper and some of his sector picks. rishaad: coming up first, chairman and chief executive brett mcgonagle saying the federal reserve will be forced to cut interest rates in march. let's get into his thinking. that is just ahead. this is bloomberg. ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. rishaad: 11 hours and 25 minutes -- i should say 50 minutes away from the inflation print. seeing prices expected to have cooled off in october that will be enough of the federal reserve to back away from steep interest rate hikes? kathleen hays joins us. give us an overview here about an improvement if at all? kathleen: that is it. a little bit of improvement but it is like saying if i were 50 poun

let's go to new york and vonnie quinn. vonnie: thank you.ce for women. the bank settled two years ago in a deal they kept secret. a senior executive making pogrund dismissive comments about women. goldman says anyone who works with ceo david sullivan knows he respects women. global news 24 hours a day, on air, at bloomberg @quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am vonnie quinn. this is bloomberg. shery? shery: coming up, what is next after that landmark meeting between presidents joe biden and xi jinping? we will discuss with susan of the 21st china-centric center. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪ ter. this is bloomberg. ♪

over to vonnie quinn. vonnie: malaysian political leaders have until 2:00 p.m. on monday to inform the king of their choice of prime minister after the vote produced the first ever hung parliament. the opposition leader says he has the numbers to form a government despite falling short of a simple majority. the former prime minister also says his coalition could take power with the sport of two regional parties. the imf says the rise of trade barriers against china and other countries could cost the global economy $1.4 trillion. christina your give up says the potential loss to asia could be more than 3% of gdp. she wants asian countries to work together to overcome fragmentation. the world is going to lose 1.5% of gdp just because of divisions that may split the region into two different blocks. for asia the loss is more significant because asia is so integrated and global value chains. they could be 3% or more. vonnie: the world's biggest single sporting event, the world cup has begun in qatar with a lavish opening ceremony. qatar has been under scrutiny. ther

i am vonnie quinn.is bloomberg. >> ordering striking truck drivers back to work after negotiations broke down. let's bring in our correspondent. can the president do this? with the workers comply? >> when it comes to the special order that you are asking, issues such as special orders, they will definitely follow the order. if they don't, physically it will be the first time for the government to force a union to return to work. particularly under the law, they will definitely follow. >> what is the impact of the striking industries in the supply chain russian mark >> the impacts are becoming really serious across the industry. we are seeing local media reports saying that we think they are going to deliver their products. we all know we are accelerating the country but -- >> just getting some breaking news across the bloomberg at the moment. it is retail sales out of japan for the month of october. they are coming in weaker than expected following the slightly hotter than expected jobless rates. the ma

now, let's get to vonnie quinn with first word headlines. vonnie: kathleen, thank you.acebook's parent meta is planning to begin layoffs that will affect thousands of workers this week. job cuts could be announced as soon as wednesday with employees told to cancel non-essential travel. meta struggles with growing offers while investing in the metaverse. after laying off about 50% of the company friday twitter is asking dozens of workers to come back. some were laid off by mistake. others were let go then realized they were needed to achieve targets set by elon musk. the new york times is holding off on page verification check for users. a fresh round of job cuts at credit suisse starting next week. the lender will notify affected personnel, mostly support staff in the asia-pacific. egypt has begun a deal to discuss how rich countries can help pay for the damage caused by global warning elsewhere. the breakthrough would allow diplomats to officially debate loss and damage during the two week cop 27 meetings for the first time. industrialized nations repeatedly blocked ef

let's get to vonnie quinn.ying china has issued sweeping relaxation measures on property and covid controls pair the strongest signal yet president xi is turning his attention to rescuing the economy. russia and the u.s. have failed to agree on language for a joint statement at the east asia summit in cambodia. the russian foreign minister says the u.s. and partners insisted on using what because unacceptable language about ukraine which moscow refuses to describe as a war. cast further doubt on any consensus being reached in indonesia. >> this is the economic forum shared there are a lot of very tangible and concrete deliverable. on the paragraph related to war maybe there will be no agreement but we are still trying. vonnie: g20 nations have raised $1.4 billion for a global pandemic health fund to avoid a repeat of the covid outbreak. the world bank will manage the fund. the fund has commitments for more than 20 countries as well as the bill and melinda gates foundation and others. sri lanka's government reve

for now, vonnie quinn with headlines vonnie: thank you.ussia and the united states are expected to meet to talk about resuming inspections of atomic weapons sites. a small step towards reviving arms control talks suspended since moscow invaded ukraine. respa warned putin that any use -- president biden warned putin that any use of nuclear weapons would be a mistake. the u.k. and european union's month-long dispute over trading rules in northern ireland. the eu has begun testing the u.k.'s live trade database that tracks goods moving from britain. if satisfied, it could pave the way for a deal on customs checks in the irish sea. china has expanded a key financing support program designed for private firms including real estate companies. the move promises to help developers sell more bonds and boost liquidity. the national association of investors widened the program to support $35 billion in debt sales. the additional aid comes after pboc called for more support. the number of visas granted to overseas workers in hong kong fell about two t

i'm vonnie quinn. this is bloomberg.ahead, a closer look at taiwan following big local election losses for the president party. he thinks the ballot has nothing to do with china. plus the latest from anti-covid protests -- anti-covid lockdown protests. the most significant public unrest since tiananmen square is how the protests are being characterized. this is bloomberg. ♪ shery: taking a look at a live picture of beijing as we got the latest covid cases for november 27. more than 3800. we've seen the protests spreading in the capital, but not just there. protests against covid restrictions spreading in china on sunday. citizens taking to the street, venting anger and frustration. let's ring in the greater china senior editor. these protests not only in the capital, but also in shanghai and wuhan. tell us how we got here and how much worse it could get. >> underlying everything is the uptick in covid cases over the last month or so has resulted in lots of people being locked down in their apartments, having movement res

. >> let's get you to vonnie quinn. vonnie: the ecb president says there is still a ways to go on raising interest rates to counter record inflation. she says the ecb will use everything to bring back to the 2% target. the u.s. and south korea have warned north korea that using a nuclear weapon will result in the end of the kim regime. the u.s. and south korea defense ministries told a joint reaping they would extend the military drills that pyongyang calls a provocation. >> we have decided to extend vigilant storm. that is our long scheduled contrarian -- training exercise to further bolster our readiness and interoperability. vonnie: sources say the eu is studying the feasibility of using russian central bank assets to help ukraine's reconstruction efforts. legal experts are looking into possible options. they are focusing on how to seize russia's reserves that were frozen by the eu and other allies. the former prime minister a pakistan is in stable condition after surgery to remove bullet fragments. his party says he

i am vonnie quinn.this is bloomberg. shery: a chinese startup is said to unveil its first production ev car in the first quarter of next year fitted with sensors and cameras that can monitor at the driver's vital signs. the founder told bloomberg there is huge potential in china. >> beyonca is an idea that was formed a couple of years back when i first engaged into the thought of electric vehicles. it was quick that it came to my mind that electric vehicles is not a vehicle versus a combustion car. it contains the infrastructure to work with ecosystems. >> in terms of use cases, you mentioned at the beginning health. what do you mean by that? what role do you envision a play in people's health? >> if you own a car for about six months or one year and you were driving at a speed of 120 kilometers per hour in the winter, and you have a symptom of cardio topics, it would kick in and speak to you, and if you do not respond, we would be able to detect you via cameras and sensors, and autonomous driving will

haidi: let's get the first word news with vonnie quinn.e: china says it will unswervingly stick with covid zero, dashing hopes for ending restrictions soon. health officials said in a weekend briefing that the measures are completely correct and needed to fight outbreaks. officials will also ask local governments to correct excessive control measures. online speculation over a move away from covid zero last week helped boost stocks. support for an investigation into unspecified violations by a deafening -- a deputy governor. fang's name was no longer on the pboc website of top executives yesterday. the ruling communist party's determination to fight corruption is unswerving as well. you and -- you and in egypt a deal how rich countries can pay for damage caused by local warming elsewhere. industrialized nations repeatedly blocked efforts to add this to the agenda despite demand from developing countries. credit suisse is planning fresh job cuts starting next week, adding to dismissals that have already started. the lender is expected to no

on vonnie quinn. -- i am vonnie quinn.to watch the uncertainties around the world. geopolitical issues, recession, inflation. alliance is joining us via their ceo. good to have you with us. good to see you in person. you have -- why is so conservative? are the current macro conditions a concern? >> we tend to be conservative and we had a really good run this year but the last quarter is not over. things can happen last minute. overall we are very comfort -- confident to reach in the outlook. markets have been good. we have been resilient. very few things are resilient in this environment so it is good to be where we are. shery: they share buyback was big. >> german stocks have been hit by american investors pulling back in light of the war in ukraine on potential energy crisis in europe. german stocks have been oversold and our shares have traded down like many premium companies in germany so investing in our stock at this point was the most profitable for our shareholders but over time we would love to invest more in asia

im vonnie quinn -- i'm vonnie quinn. this is bloomberg. ♪ haidi.: single port's central bank chief says they can support record and close. they spoke exclusively to us. we asked him where the money is coming from. >> i think -- >> more notes asia -- north asia, perhaps? >> north asia, i would think. if i recall correctly. >> the party congress in china seems to be a bit of a disappointment with policies announced or lack thereof. is there a sense the flow of capital from china in particular could accelerate given the disappointment and concerns about policies? >> there's already some happening. some of it has come to singapore. i'm not sure we are looking at any march pickup and outflow. >> any concerns about hot money perhaps that could fuel property prices in singapore? >> that, we've got under control. we have measures in place to address that. we have not seen a pickup and prices. every time there's an incipient and flow , we put in place measures. that sends a clear signal. we want to make sure the property market grows in line with fundamenta

i'm vonnie quinn. this is bloomberg. ♪ kathleen: still ahead -- the institute of international finance's tim adams joins us to dissect any rate hike path and what it means for economic growth in asia. up next, the baron joy ceo joins us -- barrenjoey ceo joins us to discuss their business and macro outlook. this is bloomberg. ♪ haidi: top leaders in business and finance are gathering today for the annual barclays asia forum in singapore. joining them is haslinda amin, with us now with the first guest from this event. has? haslinda: no shock edge from issues to discuss, the likes of a hawkish fed, geopolitics, let's get to our guest today, barrenjoey ceo brian benari. what a surprise, 75, four in a row for the fed, you have to wonder if the rba is behind the curve, it pivoted perhaps we too soon. >> it was interesting, we were predicting it would be a 50 basis point move, it is a 25 move for december. the rba's the hurdle pretty high. in not taking it 50 basis points. the rate is now 2.5%. our productio

let's get the first word news with vonnie quinn in new york. vonnie: thank you.ays policymakers should raise interest rates to 5.4%. investors recalibrate bets on how high fed officials will go on rates. chair jerome powell said earlier this month that rates will need to rise higher than expected due to disappointing inflation data. australia emergency services are warning that severe flooding in inland regions could last into the new year. three seasons of abnormally high rainfall have left soil so saturated that even small amounts of rain are triggering flash floods. the flooding is also hitting crops and elevating food prices. a dutch court has convicted two russians and a ukrainian of carrying out the 2014 tack -- attack that brought down an mh17 airline. the court sentenced all three men to life in prison but none are in custody. 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 am vonnie quinn. this is bloomberg. haslinda. haslinda: still to come, we will check in

vonnie quinn is in new york. vonnie: the u.k.arket is suffering shocks and not able to absorb assets. highlighting the upheaval in markets following the ill -- bailey told the committee they were not briefed on the statement. sources say argentina's central bank will keep its key interest rate unchanged at 75%. the central bank board is seeing slower gains in october and is preparing to hold. monthly inflation could slow to 5.5%. the biden administration may label russian mercenaries the wegner group 8 -- wagner group a terror group. alibaba's founder jack ma has been living in tokyo with his family for six months. ma has been keeping public activities to a minimum while pursuing business interest. he has kept a low profile since his criticism of chinese authorities in 2020. the usa has advanced to the knockout stages of football's world cup with a hard-fought 1-0 victory over iran. one player was sent to the hospital after being injured while scoring the winning goal. england also advanced, defeating wales 3-0, and setting up a

i am vonnie quinn. this is bloomberg. shery? shery: still ahead, what is next for cryptocurrencies amid the fallout from the collapse of ftx. caroline boler writes us next. haidi: up next, we are talking about strategy with the ubs. find out what they think about how the u.k. and the euro soon is doing and ask the euro zone is doing and if they are heading for a recession. this is bloomberg. ♪ shery: let's take a look at the week ahead. we will be getting inflation prints across asia and europe. the u.k.'s on wednesday before the budget release and japan's number on friday. on tuesday we get the monthly data dump. we are also waiting on key figures from the u.s. with producer price index coming out on tuesday followed by the initial jobless on thursday. also on thursday rate decisions from indonesia and the philippines and the philippine central bank already flagging a 75 basis point hike to match the fed. haidi: and we are covering the big events and plenty of them. president biden meeting with china's xi jinping in bali on mon

i'm vonnie quinn, this is bloomberg. still ahead this hour, we will have early-stage venture capital firm elevar equity to talk about some of their investments, including a unicorn. rishaad: we're going to be speaking exclusively to ayala's new chief executive. this is bloomberg. ♪ haslinda: welcome back. the philippines government says it is on track to meet its gdp growth target, and make reach the top end of its 6.5-7 .5% goal. let's get the business perspective with the ceo of ayala, the oldest and largest conglomerate in the philippines, he joins us as close of late for his first interview since taking charge two months ago. you were pulled out of retirement to lead ayala, was a surprise? cezar: from the golf course on a sunday to work at 7:00 the next morning, i was absolutely surprised. haslinda: a banker by profession, how is it like leading a conglomerate? cezar: the skill sets are very similar. between banking and private equity, the skill sets are quite useful for leading a conglomerate. so, it's been an easy

let's get the first word news with vonnie quinn in new york. vonnie: the u.s.ications equipment created by huawei and cte. the order also limits surveillance products. it is the latest in the recent escalation of u.s. restrictions against chinese tech. european union diplomats will resume talks on monday uncapping oil prices. -- on capping oil prices. a senior diplomat says that poland is demanding a price below market level. positions remain entrenched. the biden administration is planning -- demanding a renewal of chevron's license to resume venezuelan oil output. while no new drilling is authorized, chevron will be able to repair its activities on current oil fields. the bbc says it is extremely concerned after shanghai police arrested one of its reporters covering the protest. in a statement, it says that ed lawrence was kicked and eaten during his arrest. the broadcaster says that the authorities say he was arrested for his own good. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more t

i am vonnie quinn. this is bloomberg. haslinda: breaking news on toshiba, a consortium is considering lowering its offer for toshiba from $16 billion, according to people familiar with the matter, discussions on going, no final decisions made, and some members of the consortium have become hesitant about the proposed valuation of the company, according to people familiar with the matter, a consortium is considering lowering its offer for toshiba from $16 billion. we will bring you details as they come along. still ahead, as china hits an unwanted record in daily virus cases, standard chartered tells us why the market has reacted to early signs of easing and may have been premature. rishaad: plus, indian markets. we would do that with our guest, looking at white they are expecting strong domestic demand being fueled by monsoons in the upcoming wedding season. all that and more on the way. this is bloomberg. ♪ haslinda: we have the dollar weakening. that is supporting asian currencies. look at the yen, trading at 138. 7.14.

first word news with vonnie quinn.musk tells us or than 100 million twitter followers to vote republican. he recommends a republican congress to balance a democratic policy -- presidency. most ceos stay away from political endorsements. musk says he is politically independent. imf's managing directors as global inflation may be a -- close to a high point but may be stubborn. she said u.s. inflation for october is likely to show another outcome close to a percent and officials will struggle to bring consumer rights gains to a palatable level. >> it is possible, we see central banks very united on fighting inflation as a top priority and lightly -- rightly so. the foundation for growth, which is price stability. >> south africa spearheading a plan to shift from coal to green energy. the transition plan is a potential blueprint for idle -- other middle income nations. they would use 90% of funds to close coal-fired plants and develop renewable energy. the plan is backed by several countries. they eu is said to propose a n

vonnie: good morning. i want ruling democratic progressive party has suffered its worst ever showing in local elections. the opposition held onto with 13 seeds while gaining power in taipei setting the stage for a more content has presidential race in 2024 forcing on rising tensions with china. the president quit as head to take responsibility for those historic losses. china's central bank has cut the amount of cash lenders must hold in reserve for the second time. it ramps up reserves for the economy. the people's bank of china reduced the reserve requirement to bite me five basis points. the adjustment taking effect on december 5 will inject $70 million of liquidity. the u.s. is banning the sale of communications equipment. citing an unacceptable risk to national security. the order also affects surveillance products made by companies such as dowa. it is the latest impact of restrictions. the biden administration has granted chevron a license to resume oil production in venezuela. the reprieve follows t

let's get the vonnie quinn.l news conference, turning say it will stick with covid zero. it dashed hopes for a lifting of restrictions. official said they are correct and needed to find outbreaks. officials will ask for correction of excessive control measures. china reported its highest local covid count on monday. former u.s. president donald trump has suggested an announcement is imminent that he plans to make another white house run. it is tentatively planning to confirm is 2024 campaign after the midterm elections. trump used a rally attack florida governor ron desantis who is considered his top opponent in the republican primary field. un climate talks in egypt have begun with a deal to discuss out which countries can pay for the cost of global warming as well. it will allow diplomats to debate loss and damage during the two weeks cap 27 meetings. -- cop 27 meetings. credit suisse is planning a fresh round of job cuts starting next week, adding to dismissals that have already started. the lender is prepari

i am vonnie quinn. this is bloomberg. shery: let's get back to the top story.firming a rocket hit -- the reaction globally has been swift. reporter: it certainly has. we may even hear from president biden, that will be in the morning bali time. we have heard from a number of countries, quite concerned about what this could mean, what we know is only partial. but we don't know is significant. we know the rocket had struck into poland killing two people. it was also under that border with ukraine four miles away. we also know russia is saying it did not aim the missiles near the border, it's not say more than that. we know there is concern, geopolitical tensions are already high and this comes as the g20 is meeting. vladimir putin is not there. there israel questions as to what this could mean, and of course the u.s. said that if the nato member was attacked, they would have to react. we're waiting to hear more, whether it was intentional or a mistake. in any case, a rocket did enter: and that does change things geopolitically. shery: the question of culpability

i am vonnie quinn. this is bloomberg. rishaad: thanks.up, regulation continues to haunt tencent's gaming business. this is bloomberg. ♪ haslinda: welcome back. the war in ukraine is dominating headlines here. let's get more from our correspondent. it is a tough day hearing all of this news. the big question for nato is whether that attack was deliberate. >> that is really the answer that nato was looking for right now. there has been a sobering shift in tone after the optimism we saw yesterday coming out of that president biden and president xi meeting. there is one geopolitical risk here. if we have had a missile attack on a nato ally, that would be a turning point in the conflict. the other is an issue over food security, which has been another big topic at this conference. haslinda: what is important is that we heard from president biden that it is unlikely that the missile came from russia. >> i think we need to take up deep breath and step back. even if the missile is russian made, we do not know who launched it. we have to establish

i am vonnie quinn. this is bloomberg. haslinda?till ahead at this hour, we will speak to the indonesian tourism minister, about the revival in post endemic travel, and how big a boost the sector expects from hosting the g20. rishaad: but first, hear why our next guest things there could be a risk off move in markets. we will talk to philip bartschi , aca oh, coming up. this is bloomberg. ♪ rishaad: that is the b20 summit taking place, before it gives way to the g20. elon musk saying he has too much work on his plate, that is the, coming out from him at the moment. no doubt of course after having all of these companies under his belt, and the latest acquisition of twitter perhaps ticking up his time. we have indonesian equities moving to the upside, it taylor wind coming from china's policy shift on covid curbs, and also particularly with what is going on with real estate equities, heading to the highest level in more than two months. led by increases in hong kong, as well as china. we have the chief investment officer and head of i

let's have a look at what is going on with first word news as we join vonnie quinn. dani: leaders of nato and poland saying there is no indication the missile that struck polish territory was an intentional attack. the blast killed two people in village near the border with ukraine. it was says the explosion was likely caused by a ukrainian air defense missile but still places the blame on moscow. >> this is not ukraine's fall. russia bears ultimate responsibility as it continues it's a legal war against ukraine. >> republicans have won back control of the u.s. house of representatives but by a far back narrow remarriage and then predicted. the party gained the term 18 seats needed to control the chamber with republican mike garcia winning reelection for california's 27th district. the gop has spent the past week brooding over its poor showing in the midterms with some blaming 2024 presidential contender donald trump for losses in key races. ftx and some of that celebrity backers are being sued by an investor who is asking to represent a class action. that includes a

let's get more on that story as -- with vonnie quinn in new york.nfections in china claimed the 27,000 cases reported monday. it has left officials facing confusion on whether to face snap lockdowns or mass testing. health authorities have authorized plans to boost hospital capacity, in assignment they are expecting even higher case numbers. the pentagon says it is seeking a meeting between defense secretary lloyd austin and his chinese counterpart during an asean summit this weekend. it will be their first toxins beijing suspended dialogue over house speaker nancy pelosi's visits to taiwan in august. . the u.s. has said it will welcome a meeting, but it has nothing formal to announce yet. sources say the u.s. had been working on an examination of crypto, that forms and had started looking into ftx's operations months before its collapse. we are told the focus of the investigation was on compliance with the bank's secrecy act that requires national institutions to take steps to avoid money laundering. digital asset brokerage genesis is said to be st

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