i'm vonnie quinn. check on the markets. to some inflation data out of the u.s. today and some good employment and personal spending data. not too much movement in the indices themselves, whipping around for the s&p 500. up by 0.1%. the nasdaq are performing as we have come to expect in 2023. to your yield at 4.68%. it was at 5.10% just a few days ago. the euro having a bit difficult day. worse data out of europe then u.s. today. jon: let's stay on that team of tech outperformance today, a conscious overall trading session. first of all, you have salesforce, which soothed some concerns about its outlook with its latest financial guidance. the stock is up 3.5% today. we've also been watching shopify, one of the standout names. the e-commerce giant has struck a new deal with amazon to tap into its logistics network. the market responding with a 9% move higher on that stock. cybersecurity, even in an uncertain economy, gets attention with a name like crown strike. latest quarterly results with that company

paul: bloomberg's vonnie quinn there.t is happening on wall street with citigroup considering reshuffling its ranks. su keenan joins us with more on the stories. let's start with goldman. >> this is clearly a continuation of a move for goldman to distance itself from a that into consumer banking. this was the first big signature deal of david solomon so it is noteworthy. the deal to buy united capital, goldman now saying we are evaluating alternatives for that business as we determine where to invest our resources and where we see the greatest opportunity. it is symbolized the earlier effort to expand business lines. the purchase of united gave goldman an instant footprint into the mass affluent market. at the time of the deal united had 220 advisors. it is now at $29 billion which shows you did not grow that much. there has been a lot of internal discontent within goldman because of what is going on. a lot of moves to unwind these initial moves by david solomon to expand goldman. there are many who say goldman should sti

haidi: vonnie quinn there.e to come on daybreak asia, this is bloomberg. ♪ >> take a look at the set up here in asia. a horrid session when it comes to u.s. equities. the rally has hit the wall. that is passing through to more negativity coming through the set up in asia. if you recall, it started in asia with a number of these markets in this part of the world suffering their worst days out of all of this year when it comes to that wednesday session. we see losses being extended for a lot of these asian markets. for australia, the set up is pretty negative. we didn't get much good news when it comes to the pmi's either. falling further into contractionary territory. we are watching kiwi stocks off by .4%. one of the biggest laggards overnight. some strength in the yen, some strength in the dollar. a full week high. the irony of the safe havens a man when it comes to u.s. treasuries. dollar is playing out when it comes to these asian currency pairs as well. >> there is lots of earnings to digest this week as we

paul: bloomberg's vonnie quinn there, live in person at the office.ake a look at how we are doing in fx markets right now. the aussie dollar, not a great deal of change. the kiwi, also marooned below the $.60 u.s. level. we are waiting on retail sales data out of new zealand, due in about 20 minutes' time. the yen, still pretty weak. more to come on "daybre wow, you get to watch all your favorite stuff. it's to die for. and it's all right here. streaming was never this easy, you know. this is the way. you really went all out didn't you? um, it's called commitment. could you turn down the volume? here, you can try. get way more into what your into when you stream on the xfinity 10g network. >> we are making good progress on the discussions. we are engaging constructively, we are listening and trying to really understand the areas of concern that our workers have. and i think the meetings are going well. we will just continue to engage in a constructive an edge -- constructive image. shery: labor disrupts in austria that could disrupt natural gas suppli

vonnie quinn with the latest. inflationary pressures are not so easy to conquer.et? >> we see negative effects across the businesses through the last couple of quarters but this time around, we did see berkshire hathaway posting 10.04 billion dollar operating margin, $2 billion more than analysts were anticipating. that is quite a difference in opinion right there. as they say they had to deal with rising prices, a troubled market any dearth of deals. what saved them this quarter? strength in its insurance business. it saw a 74% increase in underwriting earnings to one and a quarter billion dollars. it benefited from the acquisition of allegheny which it did as an underwriter. and also geico performed way better than expected, the auto insurer. it had been unprofitable but it has been profitable for two straight quarters. more expense cuts, higher premiums and lower claims. there are things in the negative column including nsf, railroad earnings were down 25%. higher expenses, more headcount in fact, which is all part of the same bucket. and also rising costs eati

vonnie quinn back with more details. posted $10 billion, $2 billion more than the estimate and there was strengthened the insurance market thanks to the buying of allegheny. it was a 74 percent increase in insurance underwriting earnings to 1.25 begin dollars, also geico perform better than expected. this is the second straight quarter it has become profitable thanks to expense cuts, higher premiums too and lower claims and a reduction in advertising spending. we have seen inflation hit some of the other divisions in the last quarter. this time it was evident at the railroad unit, which posted a 24% drop in profits thanks to more hiring and more wages that you might anticipate in an economy like this one. the fed's rate hikes which are designed to battle inflation helping berkshire hathaway in the quarter, because it has a huge cash word and warren buffett is a fan of u.s. treasuries. he will buy another $10 billion this weekend. the yield is much higher than when defense to the raising interest rates. the equity portfoli

shery: bloomberg's vonnie quinn with the latest on charles schwab.tories we are following -- gaining after it announced an all stock deal to buy earthstone energy for $2 billion. earth stone stock will rally on the deal. the 2 -- the shale older -- the shale drilling rigs -- permian says it will keep them running for now talking an industry trend to cut rigs after buying rivals. hedge fund sculptor capital says it has received multiple takeover bids higher than it excepted from rhythm capital. some of the offers valued sculptor at more than $700 million. it is said that they offer the company $12 a share topping rhythms 12 -- $11.15. more capital reportedly required to purchase subway. the sale could be finalized as soon as this week. subway is one of the world's largest restaurant chains with around 37,000 stores in over 100 countries. we have more to come on "daybreak: asia." this is asia -- this is bloomberg. ♪ now hejust a future st ate. health happens now. ate. start your dna-powered health journey today with personalized insights from 23andme.

paul: vonnie quinn there.'s get some numbers from santos, this is one of australia's natural gas producers. first half net profit $790 million, down 32% on the year. we did have a warning that sales could fall on weaker asian demand for gas due to things not being ideal in china in terms of the growth picture. first half revenue for santos, $2.97 billion, down 21% on the year. the dividend percent toast, 8.7 sent, underlying profit $801 million. up about 9%, strongly outperforming the asx. but those numbers are painting a rather difficult picture, cento still seeing for your production of up to 93 billion barrels of oil. those numbers just crossing now. a big day for the lng space. we're waiting to hear news from negotiations with woodside by close of business today. as for whether that will be a strike, and that could affect up to 11% of lng demand. and one ceo says markets are in for a rough road ahead. saying he believes the u.s. economy will experience a hard landing and that the fed has already gone too f

the market looks to be bearing out in the set of results. >> vonnie quinn there.have much more to come here on "daybreak: asia." this is bloomberg. ♪ so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a wide door for easier mobility. kohler® walk-in baths include two hydrotherapies— whirlpool jets and our patented bubblemassage™ to help soothe sore muscles in your feet, legs, and back. a kohler-certified installer will install everything quickly and conveniently in as little as a day. they made us feel completely comfortable in our home. and, yes, it's affordable. i wish we would have looked into it sooner. think i might look into one myself. stay in the home and life you've buil

let's see if they can. >> vonnie quinn there.ories we are following. tsmc has agreed to build an $11 billion plant in eastern germany, in partnership with several semiconductor investors. this is the first step in establishing a major european present to -- presence to counter jew political tenths -- tensions. they will own 70% of the plant fabrication. nvidia and other parties -- partners will hold a 10% equity stake subject to approval. heavy losses expected to continue for rivian as they work to reestablish themselves as an ev player. it is projecting an adjusted loss of $4.2 billion, above prior guidance. but narrowly short of analyst estimates. the company will build 52,000 vehicles this year, up from the prior goal of 50,000. cathay pacific has set high expectations for strong momentum to last well into the next year, after their biggest profits since 2010. for more on what to expect, let's bring in our asia transport reporter danny. great to see you in person. for cathay, these ticket prices will be key. >> absolutely, on

let's make sense of the signals with vonnie quinn. we are talking about categories of price pressures chair powell talked about. vonnie: enter the first time he talked about that, as you said, and he was quite a bit about the fact that inflation is coming down. however, there is still the threat of more interest rate hikes. not a promise, but definitely at the red. the light getting quoted most as we are navigating by the stars under cloudy skies. in other words, the fed does not quite know long and variable legs what they mean right now, whether that has shifted and how long is long? yields of the two year treasury kind of 5%. he stays restrictive until inflation is more near 2%. he talked about real interest rates being positive and well above mainstream estimates of the neutral policy. let's listen to him in his own words for more on that, because this is a significant line. >> we see the current stance of policy as restrictive, putting downward pressure on economic activity, hiring, and inflation, but we cannot identify it with cer

haidi: vonnie quinn. that is it for "bloomberg daybreak: asia."d to the start of trading in hong kong, shanghai and shenzhen. the china opener is next. ♪ an do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com did you know you can get someone to shop for you? with stitch fix, it couldn't be easier. i share my style, size and budget. and they shop just for me. my shopper sends me stuff i feel good in. i keep what works, and send back the rest. stitch fix. 76% of 23andme health customers surveyed reported taking healthier actions. i keep what works, and send back the rest. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. so, you've got the power of xfinity at home. now take it outside with xfinity mobile. like speed? it's the fastest mobile service around. with the best price for two lines of unlimited. only $30 bucks a line per mont

let's bring in vonnie quinn.hey have been struggling for years especially after the pandemic. >> you mentioned the stock post market-rate down. it was already less than 21 percents per share. -- $.21 per share. we were here in 2020 after the board pushed out the founder and it had to undergo major restructuring. that has just been complete. it went public october 2021. someone took over and he tried to right the ship. that restructuring did include striking a deal with some of the biggest creditors and cutting its debt by 1.5 billion dollars extending other maturities. data showed the bonds traded at deeply distressed levels. especially host covid when returned to office is in question and difficult for companies anyway. nunnally that, but one leader -- two leaders left as well. the company is looking for a permanent ceo and a statement that was issued said that it would be trying to work on renegotiating leases. it's a question whether it will survive the next 12 months. >> we were just talking about soft and vi

vonnie quinn is here with more details, it seems investors are liking what they see? as 6% coming off of that little bit after that, but the results were upbeat and investors were pleased about that. shares of 82% year to date, between 1% year-over-year, a far cry from what nvidia is seeing though, almost 300% year to date and that is because amd is all behind nvidia when it comes to artificial intelligence, investors are looking out for that to date. estimates of the top and bottom lines, more than that, the unveiling of its mi 300 series, the amd x, a few weeks ago, really helped in order for amd to prove that it can meet nvidia at some point, these trips are available early next year, the zissou sit ai engagements increased by more than seven times as multiple customers and i'm quoting from a statement, initiated or expanded programs supporting future employments regarding accelerators. chips will allow other programs and apps to develop intelligence , artificial intelligence. these tips will be available early next year and lisa on the conference call which only e

bloomberg's vonnie quinn turns us with more. so, who is staying and who is going? ie: it is interesting. ubs has 120,000 employees as it currently stands after the merger, and wants to get rid of about 30%, 36,000, and there will be a few thousand layoffs. already announced in november on monday, it is revamping its leadership of its investment banking division. . it named almost 40 appointments to leadership roles, some promoted from within, some from places like barclays and other wall street banks. some did hold onto their jobs. six of these 40 appointments are bankers from credit suisse, including, as you can see, the new head of coverage, and the chief of staff. separately, ubs is trying to capitalize on bank of america's -- trying to capitalize on credit suisse's presence in the u.s.. it is holding onto the head of the global industries group, the head of health care, and so on. it had said it planned to downsize credit suisse's investment bank and put them through a culture filter, so some of that is what is going on here. we will get more details on the inte

. >> good evening, i am vonnie quinn. stop stories -- top sources are. china banks are esters with epidemic recovery but local governments prepared to begin dollars in special bond sales. >> it investors facing the full week ahead of test with jay powell a buzz because coming up, including nvidia up as whiskers or earnings report. bonnie: workers at a key lng passivity to strike if there is no agreement with woodside by wednesday. let's get a check on wall street now as we prepare for a big jackson hole weekend at the end of the week. futures pointing to a higher open in early going. we have had three done weeks for stocks, and not just the u.s. markets, markets all over the world. a major benchmarks with the exception of mexico were down last week. a huge a relentless elephant treasuries, at with an one basis point of its high last october, four to 5.46. -- 425.46. what jay powell says to change market sentiment if anything on friday, and crude oil, commodities down last week in general. oil has had seven straight weeks of gains. at last week with its f

haidi: vonnie quinn and our chief correspondent garfield reynolds. it let's delve into that china growth story or the lack of growth. shery: beijing lowering its soft trading stamp for the first time in 15 years and pledging to slow the pace of ipo's. this as authorities tried to boost market sentiment. our chief north asian correspondent stephen engle joining us from hong kong. the latest in a string of moves to support the economy. >> absolutely and the stock market seen as a proxy to the economic woes seen in china and you can bring up a number of different stock charts to show it is down about 8%. the csi 300 down about 8% over the last month. it is down about 12% since its peak this year on january 30 and down 36% since the peak we saw in february 2021 through the pandemic, down 36%. it has lost a third of its value. that is a proxy to all the weakness but then the news flow has been very negative. we have had the ongoing property sector problems, trust defaults, and we consumer sentiment. domestically there is a mattress mentality. people are s

went with proposals to boost oversight of mid size lenders and providing for potential failures, vonnie quinnllowing this for us and i knew would be waiting for a while to see these requirements. what are they? >> the first big part of this is extended, it had already been in place since the great financial crisis for the major banks, but now, the fed wants to put in place for banks that have $250 billion or more in assets under management, these are foreign banks and bank holding companies and the fdic wants it done for regional banks with $100 billion or more in assets under management. it is an extension of what we had a scene for living wills that would allow them to dissolve in times of crisis if they were about to collapse are under. the other big factor here is issuing long-term debt and this is in case the system gets taxed. i would happen in march happens again where we saw a very speedy collapse in signature bank and that is why this fool has gotten a little bit contentious in washington -- pool has gotten a little bit contentious in washington. those banks, the regional banks will