vonnie: i am vonnie quinn.-elect donald trump victory is roiling u.s. -- roiling the mexican market. getting more now from eric martin, the economic reporter joining us from the mexico city bureau. how containable is this? how economists? >> people are really concerned. bank has increased the interest rate by 1.5 points this year. there is a lot of question as to whether these moves can kiss -- given that the drop some economists are seeing it as low as 25 per dollar by year end. and otheren blackrock out with other groups heading just -- cutting the forecast for gdp 1-2% for 2017. a lot of speculation that the proposals that have been put forward will have a big effect on the trade environment for mexico. select-- vonnie: the other thing, i am looking at the bloomberg, both mexico stock index, the yield curve. this is last month. you can see the movie are when last snapshot was taken in blue. the mexican central bank will tomorrow. how much will it raise end is it of theause president-elect? >> it really is ou

quinn. mark: i am mark barton cash vonnie: i am vonnie quinn. -- i am vonnie quinn. i am mark barton. president-elect donald trump is prepared to settle lawsuits, according to a person to play with the matter. he will pay $20 million to $25 million to settle the lawsuit and case filed in 2013 by eric schneiderman. the case claims trump build the students and he may have personally made as much as $5 million. general said he would probably speak with donald trump very soon. he is predicting trump will be committed to the alliance during the campaign when he called me to obsolete and questioned whether european members are contributing enough. russian president vladimir putin is making sure he will remain a force to be reckoned with for the next tenant of the white house. putin is said never team to make sure he wins the fourth term in 2018. his approval rating is more than 80%. one survey says two thirds of russians want to see him continue after 2018. a fuel tanker exploded as thedents gathered around driver, killing at least 73 people. badly burnt people had tried t

vonnie: in new york, i'm vonnie quinn. european close on bloomberg markets. ♪ nejra: we will take you from washington to germany and cover stories out of london and wall street in the next hour. here's what we're watching. vonnie: european stocks selling off her and a today. investors are getting action before the u.s. election well we also await policy decisions from the fed and the bank of england. politics has new reporting on how the u.s. candidates are faring in early voting. this is donald trump and hillary clinton surrogates hit the campaign trail with just five days to go until election day. we look ahead to the federal reserve and bank of england's decisions. recent data has taken the pressure off the boe to ease further.

i am vonnie quinn in new york. mark: from london, i am mark barton. ie: the upcoming election has pushed aside the fed as the torn driver as inves anxiety. here is the senior analyst at bloomberg intelligence. we have been following currencies. we have been looking at the korean won and the chinese renminbi. investor flows, it is difficult to tell on first glance, what you?tf's telling you mentioned foreign currencies. they are happening. etf's are accessible to everyone. is the mexican etf. it is so beyond its norm that you rarely see something like this. $400 million a day. everything changed one week ago numbers beganoll to surge. they caught fire with volume and short interest here it short interest has doubled. you would short this etf if he wanted to bet on trump and long if you wanted to bet on clinton. it tracks mexican stocks and it has the peso. the peso is part of the return. it is down 5% this week. it is probably the most sensitive etf to the poll numbers. it is the proxy to the election. it is not unusual to see a single country etf becom

i am mark barton. >> in new york, i am vonnie quinn. this is the european close 30 me trading day today. i am mark barton. >> in new york, i am vonnie quinn. this is the european close on "bloomberg markets." ♪ mark: we will take you from stockholm to rio and we will cover stories out of amsterdam, germany, and washington hit. here's what we're watching today. trade has seen the odds of a fed rate hike in december moving to nearly 100%. prince speaksudi to bloomberg television. the billionaire says it's too early to judge what the effect of a trump presidency could be, but he thinks it could improve relations with saudi arabia. worste of the industry's a mission of offenders is trying to meet ever tightening rules. mark: let's look at where european equities are trading. 30 minutes until the end of the wednesday session. stocks are falling today. of swings and between gains and losses on the stoxx 600. conjugating, deliberating, thinking about what the double trump election victory means. bond yields are rising. today after a respect ye

vonnie: i am vonnie quinn and this is bloomberg markets.nnett is dropping it did for tronc, ending a pursuit that biggestt some of the u.s. newspapers under one roof and tronc shares are plunging 18% on the news. gannett shares are rising, up one half of 1%. may be in jeopardy. alex sherman joins us with some context and to tell us what happens to talk -- tronc. they announce their earnings later today and they have to convince shareholders they have a reasonable standalone plan that will be there short-term obstacle to commit shareholders. even though this deal did not go through, we do have a plan moving forward. i am sure tronc will juxtapose their earnings assuming they are better than what the net was -- gannett was in a few days because their shares fell after they announced earnings and fell further when we broke the news that banks were considering pulling out of this deal, which was the main reason the deal fell apart. both sides agreed to a price of $18.75 a share and gannett did not have the financing. vonnie: if it cannot afford

. -- i am vonnie quinn.executive asked in 2010 how big of a rival it would take to beat out a competitor in guinea according to the mining minister. c fire toy executives over the west african project. the executive is denying allegations. considering an ipo with the canadian business object by need to raise cash for the expansion of a mountain oil pipeline. ofinitial public offer canadian assets is being considered as well as others looking for joint venture partners. fiat chrysler recalling 89,000 dollars and suvs a cousin of a .ossible fuel leak it covers dodge during go and jeep grand chair be suvs -- jeep grand cherokee's worldwide. owners will be notified by mail starting on december 19. that is your bloomberg business flash for this hour. mark: staying with autos, cutting 30,000 jobs for a saving. the company struggling to claw back from the emissions cheating scandal. a look at whether or not it is , my favorite stat is volkswagen still has 300,000 employees, which is a lot relative to the number of

vonnie: i am vonnie quinn. the latest cabinet pick.romsentative tom price georgia will be the latest representative of health and human services. he could possibly oversee the overturn of the affordable care act. one of the top legislative record is for republicans. now the reporter for bloomberg news in washington. of obama been a critic care. does this mean we will see at least an effort to appeal the whole thing? will see anected we effort to repeal obama care. it is possible it will not be to repeal the whole thing. president-elect trump said there are aspects he would like to keep. at the same time, there is not a makeup in congress that might allow for a full repeal right now. there might be a need to refine that repeal. get rid of some of the biggest things that republicans dislike, including the mandate that all americans have health insurance. then do something else to replace obamacare and aspects they don't like. vonnie: the other aspects are medicare and medicaid. when trump was campaigning, he said he would not mess with t

i'm vonnie quinn. mark: i mark barton and this is your global business report. book is expanding in u.k., hiring more people in building a new headquarters. vonnie: workers at one of the busiest airports in the u.s. may go on strike. what that could mean for thanks giving travel. mark: and in today's bloomberg quick take, a look at the growing business of legalized hot for recreational use in the u.s. british prime mr. theresa may is offering and all of branch to businesses -- british prime minister theresa may is offering and all of branch to businesses. to missd executives not the opportunity presented by brexit. may: the decision gives us a once in a generation chance to shape a new future for buildtion, the chance to a stronger, fairer country. that's the kind of change people voted for, not just to leave the european union, but to change the way our country works and the people for whom it works forever. facebook is ramping up its presence in the u.k. they will hire 500 employees, increasing its british headcount by 50%. they are moving to a new london adqua

i am vonnie quinn. i am mark barton.is forecasting a slump in the pound following the brexit boat. it will weigh more on earnings next year. priceking for a higher for british american tobacco. option.n-dollar buyout look at the growth in china. >> easyjet will overhaul operations. the discount airline said the exchange rate will cost 200 $25 million in the current fiscal year. ordering a more proficient organization along with savings. >> we will remain headquartered in the u.k.. we can say that with confidence. eu operatingp an company. this means we will be able to operate our roots across europe that isfidence because what we have been working on for months and know that that is something we have do. >> rejecting a 47 billion-dollar takeover from british american tobacco according to people familiar with the matter. create theuld biggest publicly traded tobacco companies. home depot posed a quarter -- earnings that beat estimates. signaling confidence that americans will keep spending on renovation projects. the comp

we are one hour 30 minutes away from the end of the thursday session. ♪ from new york, i am vonnie quinnome to "bloomberg markets." ♪ vonnie: we take you from london to hong kong and cover stories at a paris, new york, and egypt over the next hour. bank of england governor mark carney says they can move either way on costs depending on how inflation develops. the federal reserve also leads rates changed. the pounder climbs the most sent august as they ruled the government must hold the vote in parliament before starting the two-year countdown to brexit post-up theresa may still saying she plans to pull the trigger in march. vonnie: the securities and exchange commission is launched an investigation into wells fargo. the same day, we have

vonnie: i'm vonnie quinn. this is bloomberg markets. a look at some of the biggest business stories in the news right now. trader accused of causing the flash crash will say to a. federal court in chicago. that's been delayed until tomorrow. navinder sarao lost the battle to both avoid being extradited from the u.k. accused of -- prosecutors blamed seraphic causing a trading frenzy that ofefly -- blamedsarao causing a trading frenzy. iran will partner with france's total and china national petroleum. the deal is valued at $4.8 billion. hotel has been working on the project shanks -- when sanctions forced it to stop in 2009. local governments across the u.s. are asking voters to approve about $70 billion of bond sales. largely by driven california which accounts for about 42 billion of the proposed deficit. officials seek to raise funds for schools poetry its rotation and affordable housing according to financial data. the voters have been asked to back large issue -- schools in denver and more in columbus, ohio. of marks &res spencer ar

if a coming referendum is rejected. ♪ mark: by from london, and new york, i am mark orton with vonnie quinnitaly faces a referendum vote on the prime minister's constitutional overhaul to speed up lawmaking. he pledged to resign in the case of a no vote. a former prime minister of italy was on bloomberg surveillance, explaining why he supports the no vote. mistake byit was a , becauseister renzi -- hes a referendum on a has decided to overcharge the vote with so much of it has ancient, but that is something that he now, himself believes was wrong. nofor example, i would vote because i believe that the new constitution might make the process more cumbersome, complicated and uncertain, and also because i do not like the new senate, which will bring to national prominence, a political personality which has been highly corrupt. , for one, the prime minister should continue. >> there was a realization when brexit happened that a vote against what has been proposed by the government means it is very unlikely that the government will stay. promised her renzi will have to step down? >> this is his

i am vonnie quinn. this is the "european close" on "bloomberg markets." ♪ mark: we will take you from new york to london to dublin and hong kong. here is what we are watching today. one day to go until the u.s. presidential elections as the candidates make the final push for the voters. we will discuss if the results mirror what happened with the brexit vote. surprisesbc reported a jump in profits. the ceos showed progress in his efforts to combat a low growth environment. a recordir reported number of passengers. we hear from the ceo on its latest earnings. how about a look at european equities and trading. something quite unusual happened. european stocks are rising after falling for nine out of the last 11 days. two of the other days, the stoxx few we haveanged not risen 11 days. look at these currencies falling against the dollar. there is a second column. corn yields rising in europe. periphery yields falling. gold the ultimate safe haven is falling today. day after hillary clinton was absolved a s

vonnie: i am vonnie quinn. this is bloomberg markets. president obama is set to meet his successor, president-elect donald trump. they will discuss transition planning. and his vice president elect will meet with house speaker paul ryan for lunch. more of the transition, let's go to the white house correspondent mike warning. -- mike dorning. >> what do we know about what they will speak up today? >> it is a very short meeting about a half an hour or so. in at theinvite us end, those of us in the white house press corps but the trump team says it will be a follow-up, a get to -- a photo op. suggestedteam emphasis on the cost of breaking treaties. this tells you about a peaceful transition of power. vonnie: so what exactly are we looking for when it comes to position naming? donald trump says he will have names by next week, right? >> one of the first things that we will look for is the chief of often the first name that comes out. that is very important for setting the tone of the administration. likewise, ther

from bloomberg world headquarters, i am vonnie quinn.s time now for the bloomberg business flash. making alectronics is big move into the automotive technology business, agreeing to buy harman international technologies for $8.5 billion in cash, representing a 28% premium to harman's closing price on friday. they make automotive audio technology. the firm says it is acquiring -- so we can expand its expertise in energy deals. terms of the deal were not disclosed. subsidiary of a weinberg. that is your bloomberg business flash. mark: the u.s. election of donald trump served as a wake-up call for europe as it looks at its own economic challenges. deutsche bank's chief economist spoke -- describe the current climate. >> my worry is that as we come closer to the referendum day, and as donald trump's changes make themselves felt, you will see investors pull back ,ompletely and we will go to 4% then you will have an impact on the banking system in italy and the rest of europe. for me, italy is the country that i would worry about as a flashpoi

vonnie: and i am vonnie quinn. bond selloff which is not easing following donald trump's victory. is the bond market sending the presidential elect a simple and unambiguous warning to be careful or could cost you? joining us now is the editor for bond and fx and bloomberg news. is this a postelection nightmare for the bond market that it is going to wake up from, or is this the new regime? if we can know describe it as a nightmare, just yet, but the moves have certainly been surprising. very large, sizable backup in yield. inflation hasr any additional stimulus from the government coming into the markets. how are you going to fund that? what does it mean for the federal reserve? are we going to have more government spending, does that mean they will hike quicker? these are things weighing on investors minds since the election. they were trying to factor in some of the proposals that donald trump has been putting forward. saying about $250 billion worth of government infrastructure spending. is that how the federal

vonnie: i am vonnie quinn.s is "bloomberg markets keybank -- markets." the fed is set for a rate hike in december. one of the main focus is on speculation of the ecb pots future, grabbing headlines. joining us is michael pond, head of global research as barclays. let's jump in a talk about inflation and what the market is looking for. we will get to donald trump and the fed saw that in a moment. not every metric is telling us the same story. michael: that is right. inflation is still fairly low at around 195 on the 10 year rate. higher than where it was and the summer. it is still well below a normal level around 230, 240 which is where it was from 2010 and 2014. vonnie: how quickly can market expectations become inflation? have risen 20hey basis points over the past couple of weeks. that couple of upward pressure on inflation. we have seen inflation go up. 2%e inflation has been below and now it is above 2% and it has been for most of this year. we think it celebrates forward of continued wage gains as the lab

i am vonnie quinn. bartonb.m mark this isa your global business report. d reason to sell the radiologist business. they are focusing on prescription drug business. vonnie: luxury pole maker match rivals that reported better-than-expected results. mark: raising the 2016 organic operating project in eastern europe. the expectation. bayer's pharmaceutical chief said there is no reason to sell the radiology business. is exploring the potential sale of the unit, which could be worth more than $4 billion. first prophet that met expectations. the luxury goods maker was heard by weaker demand in asia and burberry says they are on track to meet the financial goals for the year. 7%.t time revenue rose benefiting from orders and international markets. the man's weekend at home but the french government has agreed to order 15 high-speed trains that it will not need for several years. carlsberg is raising earnings forecast for the year. they say sales in eastern europe beat expectations thanks to a rebound in russia. the company forecast profits to rise about 5%. vonni

this is bloomberg. ♪ vonnie: this is bloomberg markets, i am vonnie quinn in new york. rk: live from london, i am mark barton. with two trading days left or polls open in the u.s. election investors are having flashbacks to the brexit vote. this chart shows the upheaval that happened after the u.k. decided to leave the e.u., the referendum sparking price swings in commodities, stocks, and isds, and still with us hamed el-erian. wins the trump election on tuesday, do we see a similar or more extreme market reaction to the one we witnessed after brexit in june? mohamed: if donald trump wins the election, and if in his acceptance speech he reiterates his anti-trade rhetoric, two ifs, then markets, risk markets will sell off significantly. mark: give us a sense, i'm going to put you on the spot, how much does the s&p 500 fall in a day or two? how much does the 10 year yield to go up? what happens to the dollar? mohamed: if the two it's materialize i would expect a 5% to 10% decline in the s&p with the balance of risk towards even a greater decline. why, because of liquidity

i am vonnie quinn in new york. mark: i am mark barton. ie: it's time for the biggest business stories in the news right now. pfizer missed estimates for the first time in three years. they reported disappointing third-quarter sales from drugs such as pain medication. the company ended four years of speculation. jobsrs is eliminating worldwide. they will take a charge of $250 million to keep reducing expenses. third quarter profits beat estimates. subscription businesses improved. we compete with them in providing news and information. usa today will not continue discussions to buy tronc. they have been trying to buy tronc so they can compete online. bloomberg reported that the banks set to finance had asked out. u.s. builders cut their spending on construction projects in september. this is the second straight monthly decline. total construction fell 7/10 of 1%. latest.our ahead, young china ceo ricky pant is next. a separatetrading as company. these are the shares you can check out from my bloomberg terminal. we were just talking to the c

this is bloomberg. ♪ barton withark vonnie quinn.s finishing and until the last hour or so, they were trending higher down by 1/5 of 1%. the four-day gain earlier with the longest stress -- stretch. we have seen a big move in european bond yields and equities have risen as well. resources could benefit from spending on infrastructure. the president-elect could implement many things. look at the ubs credit suisse. we have seen big moves. the bank index, highest and eight years. credit suisse up as much as 10% since 2011.ill materially outperform european banks especially with trump off his promise of stimulus and tough expectations. it says it would help credit suisse and ubs, both have exposure. revenues, you translate them back. percent of revenues come from the nine states. , improved cash flow and levels. it says it sees a more favorable regulatory environment for the sector. brokers, asset managers are the big winners from a trump residency pier 1 of the big movers in europe today, shares of by 3.2%. they increased the profit for

vonnie: i'm vonnie quinn.e now for our bloomberg business flash, a look at the stories in these right now. shares of tyson foods fell after the company posted lower than expected earnings for 2017. tyson has been hurt by a glut of meat on the markets. they announced their ceo is stepping down after seven years. he will be replaced by tyson's president, tom hayes. apple is taking a step to sharpen its focus on consumer products. people familiar with the matter say apple has disbanded the division that works on wireless routers. they have not updated their routers since 2013. for the second month in a row, japan has hosted a surplus driven by 16% climb in the value of imports. exports fell to two drops in autos, seats -- steel and equipment. ups is developing apps to help customers track packages with voice command. programs use artificial intelligence to interact with customers. a check on the european markets ahead -- the close five minutes ahead. stocks rising, the stoxx 600 up by point 25%. earlier today, th

. ♪ ♪ >> from new york i am vonnie quinn.: cap to get down to the european close we're five minutes away from the close of equity trading. but stick a look where european markets are right now. weeks of gains ending today. the stoxx 600 down 9/10 of a percent, we're seeing losses across the board. the is largely wearing on index over concerns of italian banks in particular. this is bloomberg. ♪ are you on medicare? do you have the coverage you need? open enrollment ends december 7th. so now's the time to get on a path that could be right for you... with plans including aarp medicarecomplete insured through unitedhealthcare. call today or go online to enroll. these medicare advantage plans can combine your hospital and doctor coverage with prescription drug coverage, and extra benefits all in one complete plan for a low monthly premium, or in some areas no plan premium at all. other benefits can include: $0 co-pays for an annual physical and most immunizations, routine vision and hearing coverage, and you'll pay the plan's low

quinn. i'm vonnie this is the european close on bloomberg.ing to cover stories out of new york, london and france in the next hour. here's what we are watching today. a vote int hold parliament before starting the two-year countdown to brexit. some of the biggest voices are saying this will only calls -- only cause uncertainty. e: mark carney to laying investors today that the wake of inflation must be watched very closely. shares surged on better than estimated revenues.

i am vonnie quinn in new york. mark: from london, i am mark barton. : a look at some of the biggest business stories in the news. to highshares of uber net worth clients. deutsche bank turned down the opportunity. tor turndown the opportunity release financial details about their business. shares thisother year. earthlink is a deal valued at $1.1 billion, including debt. they have over 1000 miles of fiber-optic cable across the u.s. more problems for volkswagen. germanbeen added to a investigation over and emissions scandal. vwmay face more trouble in the u.s. a german newspaper reporting that american testers have found software to cheat air-quality tests in audi cars. that is your business flash. julie hyman is looking at early movers. -- oracle is rising along with technology broadly. it is gaining more access to cloud-based software services. the acquisition had been in doubt as executives were in a bidding war. they did when that approval with a $9 billion acquisition. netsuite has been acquired. oracle shares are up by 1.8%. had plungedchairs ear

vonnie: i'm vonnie quinn.members failed to agree on the role of iran and iraq in a supply deal just one week before the cartel's official comments. premised areraq's called on opec to cut production by 100,000 barrels a day. the citigroup head of commodities research and more says he thinks an output deal is possible. >> the saudis put themselves in a bind by being so aggressively in favor of the cut, and i think they should have been playing it more coy. when the heart of opec once to do something, they need to get the periphery behind them and this time a little bit of bad diplomacy failed to get them there. i think in the end, the iraqis will be peeled away from alliance with iran. iran is very unlikely to want to stick to that alone. sentiment isame goodbye the cavs extend president earlier today. markets bloomberg cannot afford to be squandered, especially from the saudi perspective. >> an agreement will be reached. i was in saudi arabia this year. i know the situation. they have lost a lot. everyone is i

i'm vonnie quinn.id: every monday week zoom in on the m&a business with analysis from the players behind the deals. we look at a record-breaking month for m&a, the highest volume in dollar value ever. jeff mccracken, executive editor from global out -- global m&a at , whoberg, and scott bok worked on the save a lot deal and metal nine. jeff, take it away. jeff: yes, we have scott here. it's been an interesting month. people,iewed a lot of the month leading up to the election might slow down. people might be concerned that this is a volatile situation, but obviously they were wrong. turned out to be a record-breaking month. do people just assume they already know the outcome? why did we have such a crazy there's the: element of various deals coming together at once. about a month ago business people got a general sense of how the election was going to come out. clinton in the white house and the republicans in at least one house. i think that part of the flurry of deals that we saw with our firm as well

vonnie: i am vonnie quinn.for the latest bloomberg business flash with the biggest business stories in the news. sales of previously owned homes in the u.s. unexpectedly rose last month to its highest level since early 2007, existing home sales up to present an annual rate of $5.6 million. the real estate market could be in line for a slowdown from a mortgage rates have risen under speculation donald trump's policies will lead to inflation. sell some of his best-known drugs for the concert is on generics and other products. ritalin, a schizophrenia drug and an alzheimer's treatment. they could offense more than $300 million. a strike by pilots is threatening to ground flights for amazon and d jill during the holiday shopping season, the 250 they offer quite -- 80 fights of daily -- they say they have to flight too much because the carrier does not have enough pilots. no comment from the airline. that is your bloomberg business flash for this hour. day, the european trading the equity day, how many times can i s

vonnie: and i'm vonnie quinn. g markets." ♪ vonnie: from bloomberg world headquarters in new york, we are covering stories from san francisco to toronto and indiana. two days to go before opec managers try to finalize. the foundations for a dealer looking shaky. the go live to vienna for an update. we go live to vienna for an update. starting a new initiative. to the bank of canada for an interview. halfway into the trading day in u.s. abigail doolittle is here with a synopsis. abigail: looking at modest declines in the u.s. have all indexes lower. the focus has been the idea that the string of record highs for the dow and s&p 500 has been snapped. the focus should be we are still on record watch. the dow was down 26 points a a 10th of 1%. as for the russell 2000, this small cap index is being hit the worst. up 15friday, it had been days in a row, the longest winning streak since 1996. pretty amazing, but looks like it is coming to an end. interestingly, we are not looking at a strong risk on or risk off seen. oil,

i'm vonnie quinn. nejra: i'm nejra cehic in for mark barton. bloomberg markets. ♪ vonnie: we will take you from washington to johannesburg and cover stories out of new york and the united kingdom in the next hour. tech earnings in focus. alibaba's quarterly sales beat expectations. now we look to facebook with a focus on mobile advertising. nejra: for once the pound is benefiting from increased political risk. rising to a three-week high. oil markets are turning skeptical about opec's ability to deliver on cost. the chart telling the story right ahead. 90 minutes into the trading day.

i'm vonnie quinn. david: i'm david gura.o bloomberg markets. ♪ david: from bloomberg's world headquarters in new york, we are covering washington and new york. opec quenches the deal to cut , rising over 8%. the next u.s. treasury secretary, we will did -- dig into the latest. ♪ hyman joins us now with the latest. markets are moving a little bit on the oil news. julie: definitely. especially looking at oil stocks. energy shares are helping. we'll talk more.

vonnie: from new york, i am vonnie quinn..r the business home depot posted third-quarter earnings that the estimates, the largest home improvement chain signal companies that americans would keep spending on renovation project. they raised profit forecast for the year, their same-store sales up better than expected 5.5%. retail sales in the u.s. rose more than expected last month, sales increased 8/10 of 1% in october and september's figure was revised upwards to 1%, the biggest back-to-back increase since 2014. apparel chains have the best month since february. also i can is close to -- vw has recently with regulars to 40 for my back about 80,000 -- porsche and audi's. ♪ that is your bloomberg business flash. buy: siemens agreed to us-based mentor graphics corporation four point $.5 billion, it is an extension of its software capabilities. siemens chief executive talk to erik schatzker and said why it is a good fit. those types of software companies, they do not have the channels and are not able to transfer that no amount -

vonnie: i am vonnie quinn. bloomberg markets." ♪ vonnie: from bloomberg world headquarters in new york, we are covering stories out of san francisco, new york, london, and mosul. rising to record highs with the s&p 500 surpassing its august closing high and oil extending its rally today. plus, we go inside renaissance technologies with medallion funds. and is president-elect donald trump too much for california? why some in sacramento and silicon valley want to go their own way. we are halfway into the trading day now and julie hyman is here with all the records. julie: there are a lot of them to go through. all three are at major records and on an intraday basis. at 2196.58.now asis up two thirds of 1% this postelection rally has resumed after some fits and starts. definitely energy is a big part of the equation. energy stocks are leading gains in the s&p 500. the not only have oil prices higher, but the barrel is on new hopes that opec will come to a production agreement. we are seeing natural gas rise as we d

i am vonnie quinn. mark: i am mark barton.al business report. -- chairman of kingdom holdings said that he is not rushing to judgment how the election of donald trump will affect the market. he tells bloomberg he is taking a long-term approach to investing. vonnie: lower crude prices. falling demand of oil is affecting vessels. mark: we take a closer look at how many u.s. corporations are lowering their tax goals i shifting profits overseas. billionaire and saudi prince says that the u.s. economy is in good shape after president obama's stewardship. he spoke earlier with limericks khapter -- with bloomberg's eri tasker. >> it was almost in a bankruptcy situation. trump takes the station right now with united states being in good shape somehow. david: -- vonnie: he is a long-term investor in twitter. he says his investment is at great even doubles. close thes-royce will bulk of its sites of its marine engine and ship design locations. what beat estimates that same store -- same store sales fell. the target bouncing back from a

i am vonnie quinn. long race for the white house with campaigns by hillary clinton and donald trump that they did two visions of america that were very different. here is austan goolsbee, an economist at the university of chicago who served under barack obama and is supporting mrs. clinton. he joins us from chicago. pass this campaign been any more bitter -- that typical campaigns. austan: it has been horrible, the most bitter campaign of our lifetimes. we have seen bitter campaigns in our lifetimes and hopefully we can get past it. vonnie: what will be the outcome? apart from the result, is this country still very much divided? austan: on some things, for sure. i just hope that with the election over, we will come in with a new administration, usually when things happen in , when they reach compromises and do deals at the beginning of an administration and in the last six years or whatever, they spend, people are doing and handwringing about the destruction. i am hopeful -- about the dysfunction. , iop

i am vonnie quinn. nejra: i am nejra cehic. lans, including a million-dollar hotel in macau. vonnie: the bank of england is out with results of its latest stress tests and a like the royal bank of scotland has a lot of work to do. nejra: and a closer look at the controversial u.s. electoral college that picks the president. china has cracked down on high rollers and the general slowdown in business has done little to curb the ambitions of a casino operator. the chairman is launching a new billion-dollar hotel in macau called morpheus. he told bloomberg it is the beginning of a global plan. >> we're looking for the next place to build something special. operators,ny global would be interested in a big jurisdiction like japan or other parts of asia, where you could spend this type of money. cuta: opec has agreed to output, according to a delegate at its ministerial meeting in vienna. the oil cartel will cut output by 1.2 million barrels a day to slightly less than 33 million barrels. we got word that russia may join in. a person f

i am vonnie quinn.he initial market turmoil that followed donald trump's victory has eased but what can we expect in the weeks and months ahead? joining us is edmund shing at bnp paribas. how much do the overnight gyrations have to do with liquidity and how much were positioning of traders trying to wee a quick buck given that had 5-1 odds? i am sorry, we have to go straight to live speaker paul ryan. i spoke with presidential elect donald trump and congratulated him on his great victory. we talked about the work ahead of us and bringing this great country together. let me just say, this is the most incredible political feet i have seen in my lifetime. this is something you have heard me say time and again. seven out of 10 americans do not like the direction our country is going. many of our fellow citizens feel alienated and have lost faith in our core institutions. they do not feel hurt and they do not feel -- kurd and they do not feel represent -- heard and they do not feel represented but donald tru

i'm vonnie quinn.t is time for the latest .loomberg business flash european settlement talks are happening with currency markets. it is part of an investigation that has already led to multibillion-dollar fines in the u.s. and the u.k. revisitednd hsbc has said their currency trading was being reviewed by the eu. put out a new offer on the table in an attempt to end the three-day strike by pilots. the airline is offering them a raise tied to reforms the companies pension system. the strike has forced them to cancel 2600 flights and is expected to continue through tomorrow. trump'st-elect donald campaign is offering black friday discounts on its online merchandise store. they are offering 30% discounts in honor of the day. hillary clinton's merchandise store is still operating but is taking a much more low-key approach. the year and shopping rush is in full swing today is black friday. one of the busiest shopping days of the year. but as online shopping grows, black friday may be losing some of its lust

i vonnie quinn vonnie quinn.lder value, coming up to elliott investor management column for a split from the company last month. cory johnson joins us with more. sounds a elliott said, you have been messing around for a few years, here is the solution. for many decades, the weight samsung rends itself has been a family-run business that the giant conglomerate and decided to do whatever it wanted to do, as long as the leader of the company wanted it, but the new generation said, you can clean up the ship and do things the right way. it looks like this will fall short of some goals. we still see more clarity to work samsung's business is, more clarity into what we will see from the reporting unit and every investor likes the dividend and likes them outside the boardroom. be -- is thatill a bad and good company? corey: they are all good. high-growth technology business and you have other industrial businesses, as well. separating them is the main culprit furthermore, -- separating them is the main goal. furthermore,

vonnie: i am vonnie quinn. rkets." ♪ vonnie: from bloomberg world headquarters in new york, covering stories out of san francisco to london and rome. december asease by the market implies from reactions to the idea of an interest rate hike, giving it 100% odds. reportspackard quarterly earnings after the bill today and we dig into hp enterprise and numbers cannot line. mario monti speaks to bloomberg and says the current prime minister should stay in power, even if the coming referendum is rejected. more highlights from the interview. we are halfway through the trading day in the u.s. not huge volume but julie hyman has been looking at the move. julie: moves were record-breaking at one stage, although, it now, a little bit of needed movement in major averages after the dow touched 19,000 and all three touched record highs. we have seen a little bit of moderation, particularly for the s&p 500, which is little changed, somewhat of a mixed picture. we have been talking about health care, one of the major weights on

vonnie: i am vonnie quinn. bloomberg markets." ♪ vonnie: from bloomberg world headquarters in new york, covering stories at a san francisco, washington, vienna, and rome this hour. member andition team a scare which he joins us on how he is advising the president-elect. president elect trump calls "the new york times" a failing business. but we talked him into think the new administration will be good for the newspaper. first quarter profit disappointed. suggestions of a slump. halfway into the u.s. trading session and julie hyman is here with the latest. julie: a sideways to mixed session. the dow is at a record want to again. -- once again. the nasdaq and the s&p fall and backed by a little bit. one of the things that we have been watching has to do with some disappointing earnings, particularly in the health care industry. that is putting some pressure on the s&p and the nasdaq, particular bio techs and health care. is spurred by eli lilly coming out with drug results for its experimental alzheimer's treatmen

i am vonnie quinn.id: it is time for the bloomberg business flash. a lawyer from a dozen british retailers accused these up of forcing them to pay hundreds of millions of dollars in what he calls market skewing fees. this comes on the day of a trial in london. top shop says it's these have been set lawfully. luke tons of workers are threatening to strike. says the pilots have been without raises for five years. they say the threat of a strike is incomprehensible. turns out, millennials love cars after all. and 2004n between 1980 would rather own a car than rely on right hailing service is like uber. lift are replacing cabs, not cars. their favorite are the jeep wrangler, the subaru cross track, and that is your bloomberg business flash. trump seems a little less rash as he prepares to take over as president. inamed reince priebus as chief of staff. he talked to lesley stahl about how big a job he is taking on. >> it is enormous. i have never done anything like this. it is so big. i realized that this is

. ♪ vonnie: this is "bloomberg markets," i'm vonnie quinn in new york.ra: the oil minister in opec told he had optimism about an oil deal this week. >> we will deal with the price. [indiscernible] an agreement that is acceptable to all. >> let's go to vienna ahead of the wednesday meeting for more reaction. take it away. saw trading in the oil market until we heard from the iraqi oil minister, optimistic we would get a deal on wednesday. answer if we will cut answer if we will cut or not much. i'm joined by the energy aspects chief oil market analyst. >> thanks for having me. >> would you put the probability of a deal? >> it is too early for call something. nobody would rule out a deal. it differs -- it is what everybody wants. and ask for the details, nobody wants to give an answer. this is not going to be an easy one. >> he is taking a hard-line now. do you think they are trying to prepare the market for potentially not having a deal or do you think they don't want to look desperate or independent on a deal. a bit ofk it is backtracking. i think expect

vonnie: i'm vonnie quinn.s of swiss drugmaker lion after johnson & johnson approach the company for a possible takeover. joining us is one of the reporters who broke this story. many well, give us the latest -- manuel, give us the latest. manuel: they confirmed this just moments ago. we did a story yesterday evening, it's really fantastic. one of the most successful biotech companies in europe, the biggest one. they just received another approach. ofs been a long story back-and-forth with potential suitors and activist investor years ago tried to force the company into a sale process but it didn't ask -- didn't succeed. let's see if johnson & johnson makes it happen. nejra: what's different this time? manuel: the company has grown especially. the ceo and founder all -- founder is very attached to the company. sell,ery reluctant to he's a scientist and he really believes in the growth of the biotech industry. question, whyt would they be willing to sell now? if you look at the pipeline of drugs for the company,

i am vonnie quinn. mark: i am mark barton with global business report. hing european energy producers reporting third-quarter results, a stark contrast between shell and bp. you will give a full breakdown, ahead. vonnie: u.s. prosecutors are building a case against valeant. how top executives could face charges. polluting in the u.s. and a major campaign with the presidential election. the bloomberg team explains what can be done to bring down the debt. vonnie: bps third-quarter earnings plunged 49% but beat estimates. there were hurt by falling oil prices and shrinking refining margins. third-quarter profits rose 17% at royal dutch shell. the record boosted oil production and that helped offset that slumping prices. securities director futures puts the results into perspective. >> the story today with show is is a story of their acquisition of bp. i think production came on quicker than expected and they were able to turn it into profit quicker than expected in the united states. chevron was with the same lines. they were able to turn some spots around q

vonnie: i am vonnie quinn.loomberg markets. >> president-elect donald trump says he's leaving his business to fully focus on the white house. he will hold a conference with his children. people say trump should put his business in a blind trust to avoid conflict of interest. according to a person familiar with a transition. he may also be considered for chairmanship of the federal reserve. house speaker paul ryan is promising a long-delayed aid pact -- package address the water system to pass by the end of the year. he said $229 aid package will be addressed one way or the other and he said he hopes it will pass as part of a popular water projects still. castro's's ashes have begun a journey across the country to their final resting place in the city of san diego. the route traces in reverse. the captured took after seizing power in 1959. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. get a quickill check on u.s. stocks and where they

jonathan: mark barton, vonnie quinn. the european close., said vice chair stanley fischer, and later this week, janet yellen. we are about 18 minutes into the session. equities in the united states opened lower on the dow. of 2.5 500 a gain points. this is bloomberg. ♪ david: trump tower here in new york city about 20 minutes ago, got a cup of coffee, talked to reporters. he said they are working on an economic plan with the transition and they want to make sure they have the biggest tax changes since reagan. a lot of exciting things in the first 100 days. it's interesting, first thing out of his mouth is taxes. it's hard. we are reading t lussier -- tea leaves here. jonathan: we are trying to put it together and what does it mean for the bond market. i find it interesting that he talked about the policy. wall inust a fly on the the trump palace. now we will turn to fed. testifyingn will be before the congressional joint economic committee. we have been hearing from fed presidents about what they see as the major drivers of economic growth.

vonnie: i'm vonnie quinn. welcome to bloomberg markets.york, we are covering stories from san toronto, london and seoul. stocks rising for a second straight day after donald trump pasta tree, the dow trading era to all-time high. how long can we run it up? facebook shares falling for a second day. we will look at how the end of the election cycle is weighing on the social media giant. donald trump's energy policy calls for lifting restrictions on oil and rolling back restrictions on powerplant emissions. we are halfway into the trading session. julie hyman is here with the latest. another rally depending on where you look. dows&p 500 and dow, the trading at an intraday enclosing record, but the nasdaq is lagging and the s&p has been bouncing between gains and losses as investors and traders continue to try to ascertain what are going to be the ripple effects of a trump presidency. i want to focus on technology specifically because here is where we have seen the rollover. the nasdaq 100 down by 1.6%, really seeing a lag there. a real lag in

in hong kong, i am vonnie quinn. marco paying -- mark: i am mark barton. shington to london and stories out of new york and vienna this hour. breaking economic data in the u.s. and julie hyman is with us. -- in new home sales at the month of october, month over month the decline of 1.9%. this on the heels of better than estimated data on existing home sales yesterday as they rose to their highest level in about nine years. and a final rate on the university of michigan consumer above 91.6%.93.8%, a little bit better on estimated. data hast economic ba