and a first from vw.ll guarantee the battery for eight years, meaning that if it loses more than a quarter of its full charge when new, they will replace it. but will car buyers trust a firm that swindled the world when it lied about the illegal level of harmful emissions its own diesel car spat out? we invested a lot, really to fulfil our commitment to the c02 targets and it's notjust only the c02 targets during driving. for example, the battery cells after a normal life cycle of a car, which is mainly eight years, nine years, the battery cells are still healthy and you can use them, for example, for a second life. we will offer the customer in, not all, but most of the european countries, we are able to offer contract to use green energy also during the driving. audi hasn't done much in the way of electric for the past 10 years either, although now they have this. sorry, that's another concept car. now they have this. they've started with the popular style family suv but at more than £70,000, can many f

and a first from vw.ee the battery for eight years, meaning that if it loses more than a quarter of its full charge when new, they will replace it. but will car buyers trust a firm that swindled the world when it lied about the illegal level of harmful emissions its own diesel car spat out? we invested a lot, really to fulfil our commitment to the c02 targets and it's notjust only the c02 targets during driving. for example, the battery cells after a normal life cycle of a car, which is mainly eight years, nine years, the battery cells are still healthy and you can use them, for example, for a second life. we will offer the customer in, not all, but most of the european countries, we are able to offer contract to use green energy also during the driving. audi hasn't done much in the way of electric for the past 10 years either, although now they have this. sorry, that's another concept car. now they have this. they've started with the popular style family suv but at more than £70,000, can many families af

and a first from vw.tery for eight years, meaning that if it loses more than a quarter of its full charge when new, they will replace it. but will car buyers trust a firm that swindled the world when it lied about the illegal level of harmful emissions its own diesel car spat out? we invested a lot, really to fulfil our commitment to the c02 targets and it's notjust only the c02 targets during driving. for example, the battery cells after a normal life cycle of a car, which is mainly eight years, nine years, the battery cells are still healthy and you can use them, for example, for a second life. we will offer the customer in, not all, but most of the european countries, we are able to offer contract to use green energy also during the driving. audi hasn't done much in the way of electric for the past 10 years either, although now they have this. sorry, that's another concept car. now they have this. they've started with the popular style family suv but at more than £70,000, can many families afford it? y

the chp does not know exactly where the vw driver entered the highway going the wrong direction. >>we did get multiple calls with multiple locations, one of the locations was northbound 1 one at the 2.80 split on so and it's very possible that they could have been troubling for quite some time. >>the driver of the vw has been identified as 34 year-old emily ross of hillsborough she was pronounced dead on the scene as were the 3 occupants of the taxicab the passengers and the taxi have been identified as 57 year-old mary miller of chicago and 62 year-old judson birdman the barrington illinois. authorities say there were suitcases in the cab which suggests they may have just arrived from sfo. driver of the taxi has been identified as 42 year-old for can amend of san mateo county officials at national cab did not wish to comment about the incident. >>the chp telling us that this is the 25th wrong-way driver collision just this year on bay area roads. they tell us that 18 of those involved dui drivers live at chp headquarters in san francisco. dan kerman kron 4 news. thank you dan. >

>>northbound one oh one near candlestick point killing the vw driver and the driver and 2 passengers in the taxi. >>it appeared that wrong way driver was traveling southbound the northbound lanes. northbound 1, 1, just north of candlesticks. >>the crash happened about 12 30 in the morning. the driver of the vw has been identified as 34 year-old emily ross of hillsborough the chp says there are initial investigation suggests. ross was possibly under the influence of alcohol at the time of the crash. authorities do not know how or why or where she got on northbound one oh one and began heading in the southbound direction. >>it's not determine to what the speed or one lane of travel he actually worked we do know that the vehicles i did come to rest within the number 4 number 5 lane. >>the passengers in the taxi have been identified as 57 year-old mary miller of chicago and 62 year-old judson bergman barrington illinois. authorities say there were suitcases in the cab which suggests they may have just arrived from sfo. the driver of the cab has been identified as bird ed 42 years old of

and a first from vw.he battery for eight years, meaning that if it loses more than a quarter of its full charge when new, they will replace it. but will car buyers trust a firm that swindled the world when it lied about the illegal level of harmful emissions its own diesel car spat out? we invested a lot, really to fulfil our commitment to the c02 targets and it's notjust only the c02 targets during driving. for example, the battery cells after a normal life cycle of a car, which is mainly eight years, nine years, the battery cells are still healthy and you can use them, for example, for a second life. we will offer the customer in, not all, but most of the european countries, we are able to offer contract to use green energy also during the driving. audi hasn't done much in the way of electric for the past 10 years either, although now they have this. sorry, that's another concept car. now they have this. they've started with the popular style family suv but at more than £70,000, can many families afford

and a first from vw.quarter of its full charge when new, they will replace it. but will car buyers trust a firm that swindled the world when it lied about the illegal level of harmful emissions its own diesel car spat out? we invested a lot, really to fulfil our commitment to the co2 targets and it's notjust only the co2 targets during driving. for example, the battery cells after a normal life cycle of a car, which is mainly eight years, nine years, the battery cells are still healthy and you can use them, for example, for a second life. we will offer the customer in, not all, but most of the european countries, we are able to offer contract to use green energy also during the driving. audi hasn't done much in the way of electric for the past 10 years either, although now they have this. sorry, that's another concept car. now they have this. they've started with the popular style family suv but at more than £70,000, can many families afford it? yeah, i think there is this perception in the market that i

vw, up by 3.11%. i could have picked any of the names.trong -- treating strongly in the back of the car sales data. today.a big theme u.k. markets are at the center of the story. do we get a deal? the market is beginning to position for that. that is a look at the european close. vonnie: during a meeting with the italian president, president trump told reporters he predicted the market would go up today. we did get the market up a few tics. now, we are back down again. from theof some news distributors of drugs and some of the drugmakers on opioids and potential settlements, that has some stocks rallying. bank of america is rallying after better results. we are seeing amazon rallying on credit suisse upgrade to the price target, $2400. several positive stories in the market. overall, it is a bit of a negative tone. china vowing to retaliate should congress in the u.s. take steps to pass a bill that would make it so that it would be a yearly vote on whether china and the u.s. would do business. the dollar index is done a quarter of a perce

the chp does not know exactly where the vw driver entered the highway going the wrong direction. >>we did get multiple calls with multiple locations, one of the locations was northbound 1 one at the 2.80 split on so and it's very possible that they could have been troubling for quite some time. >>the driver of the vw has been identified as 34 year-old emily ross of hillsborough she was pronounced dead on the scene as were the 3 occupants of the taxicab the passengers and the taxi have been identified as 57 year-old mary miller of chicago and 62 year-old judson bergman the barrington illinois. authorities say there were suitcases in the cab which suggests they may have just arrived from sfo. the driver of the taxi has been identified as 42 year-old for can amend of san mateo county officials at national cab did not wish to comment about the incident. far this year there have been 25 wrong way traffic collisions on bay area freeways. >>18 of them involved a dui driver. and chp headquarters in san francisco. dan kerman kron 4 news. >>school football games will now be. only in contra

it will have to be offset by certain measures they've curtailed production this is something vw mightook at nothing would be confirmed at this point there will have to be efficienc measures >> excellent thank you for the report on the vw numbers a terrific interview the uk is set to hold an election after jeremy corbyn gave an approval they agreed to sign off on the election later today with us is willem. i think it was asked why boris johnson wasn't dead in a ditch >> look, what is going to be really key over the next three weeks is figuring out how the poll numbers could translate into a result. what people need to understand is in the uk, looking at those poll numbers is not always that helpful. conservatives up 42% translating to 49% of the seats. labor is not far behind. they ended up with 40% of the seats. when you look at the way the votes pile up in the country, it can be very, very helpful for boris johnson to send a message to attract new voters to his cause. it depends on where he attracts them scotland and others in favor that doesn't matter if he's getting the vote in the

the vw share price is trading higher, up by 1.9%. there was no change in revenue on margin guidance from vw. we've been speaking to the vw ceo, that is frank witter, about the cut to the forecast. frank: markets have been quite challenging. that is a reason we have lowered our outlook for -- to customers. markets are becoming more and more competitive around the world and we are a bit more cautious in terms of our volume forecast. anna: powerful story out of the auto sector today. that involves vw. another really interesting part of the auto sector involves pe f got. they are up 7% this morning so we are certainly seeing bigger reaction to this autos news. peugot haver and been talking about a tire. previously, with -- tie-up. i also see standard chartered following on from the performance we saw in hong kong. daimler up by 1.5% this morning and porsche as well, so we see some upside coming through on the auto sector in general. to the downside, interesting to see that renault is one of the biggest fallers, down by 3.7%. chances of a

and a first from vw.that swindled the world when it lied about the illegal level of harmful emissions its own diesel car spat out? we invested a lot, really to fulfil our commitment to the c02 targets and it's notjust only the c02 targets during driving. for example, the battery cells after a normal life cycle of a car, which is mainly eight years, nine years, the battery cells are still healthy and you can use them, for example, for a second life. we will offer the customer in, not all, but most of the european countries, we are able to offer contract to use green energy also during the driving. audi hasn't done much in the way of electric for the past 10 years either, although now they have this. sorry, that's another concept car. now they have this. they've started with the popular style family suv but at more than £70,000, can many families afford it? yeah, i think there is this perception in the market that i have to pay more of the electric version of the same size vehicle than i would for gas or di

next year, honda, mini, vw, vauxhall, will launch more evs with more comfort and a decent range.in europe is also improving on a day—to—day basis now. chris, really interesting, thank you for coming in so early. chris from ca nalys. for coming in so early. chris from canalys. share your for coming in so early. chris from ca nalys. share your thoughts for coming in so early. chris from canalys. share your thoughts on twitter. australia's qantas airways has posted a 1.8% rise in first—quarter revenue, but flagged future profit impacts from weaker global trade conditions and political disturbance. let's go to our asia business hub where rico hizon is following the story. sally! nice to see you, rico. tell us sally! nice to see you, rico. tell us about how they are doing? with the numbers released today, asian a nalysts a re the numbers released today, asian analysts are saying fasten your seatbelts, qantas is getting some turbulence. despite australia's flag carrier sting record quarterly numbers, no revenue from domestic routes, and particularly from its budget carrierjetstar sanch

the chp does not know exactly where the vw driver entered the highway going the wrong direction. we did get multiple calls with multiple. >>locations, one of the locations was northbound 1 one at the 2.80 split on so and it's very possible that they could have been troubling. >>the driver of the vw has been identified as 34 year-old emily ross of hillsborough she was pronounced dead on the scene as were the 3 occupants of the taxicab the passengers and the taxi have been identified as 57 year-old mary miller of chicago and 62 year-old judson bergman the barrington illinois. authorities say there were suitcases in the cab which suggests they may have just arrived from sfo. the driver of the taxi has been identified as 42 year-old for can amend of san mateo county officials at national cab did not wish to comment about the incident. the chp says so far this year there have been 25 wrong way traffic collisions on bay area freeways. >>18 of them involved a dui driver. and chp headquarters in san francisco. dan kerman kron 4 news. >>happening tomorrow protesters plan to gather at the

>>northbound one oh one near candlestick point killing the vw driver and the driver and 2 passengers in the taxi. >>it appeared that wrong way driver was traveling southbound in the northbound lanes. northbound 1, 1, just north of candlesticks. >>the crash happened about 12 30 in the morning. the driver of the vw has been identified as 34 year-old emily ross of hillsborough the chp says there are initial investigation suggests. ross was possibly under the influence of alcohol at the time of the crash. authorities do not know how or why or where she got on northbound one oh one and began heading in the southbound direction. >>it's determine to what the speed or one lane of travel he actually worked we do know that the vehicles i did come to rest within the number 4 number 5 lane. >>the passengers in the taxi have been identified as 57 year-old mary miller of chicago and 62 year-old judson bergman of barrington illinois. authorities say there were suitcases in the cab which suggests they may have just arrived from sfo. the driver of the cab has been identified as bird ed 42 years old o

the chp does not know exactly where the vw driver entered the highway going the wrong direction.>we did get multiple calls with multiple locations, one of the locations was northbound 1 one at the 2.80 split on so and it's very possible that they could have been troubling for quite some time. >>the driver of the vw has been identified as 34 year-old emily ross of hillsborough she was pronounced dead on the scene as were the 3 occupants of the taxicab the passengers and the taxi have been identified as 57 year-old mary miller of chicago and 62 year-old judson birdman the barrington illinois. authorities say there were suitcases in the cab which suggests they may have just arrived from sfo. driver of the taxi has been identified as 42 year-old for can amend of san mateo county officials at national cab did not wish to comment about the incident. the chp says so far this year there have been 25 wrong way traffic collisions on bay area freeways. >>18 of them involved a dui driver. and chp headquarters in san francisco. dakerman kron 4 news. >>other big news out of san francisco distr

take a look at these trade numbers we got out of vw to.hey have now cut their forecast for global trade growth to the weakest level in about a decade. we are talking about trade world merchandise trade for this year, growing only 1.2%. oft year, 2.7% coming off growth of 3% in 2018. amanda, this is not helping the manufacturing numbers. amanda: no kidding. while trade slows, we see the cost of trade going up. ae ism number today is warning signal. take a look inside the terminal. for some perspective, you can see that big dip, credit crisis levels, just under 48. ins is the second month contraction, a cause for concern. we were back here in early 16. we could easily come out of this again. we are told the low 40's is a reliable predictor of recession. we are not there yet, but the u.s. joining europe with something numbers. manufacturing also showing the worst month since october 2012. michael mckee is with us watching this always. let's characterize the numbers. when we say we were here and 16, does that mean the fed can look through this

>>had been driving the cab that was slammed into by a vw sedan on northbound one oh one near candlestick point at 12:30am thursday. the chp says the driver identified as emily ross of hillsborough was also killed in the crash ash was going the wrong way. their initial investigation suggests she was possibly under the influence of alcohol, according to the dmv the 34 year-old had a clean driving record with no previous accidents. convictions or suspensions on file to passengers in the cash were also killed in this reck 62 year-old judge bergman. >>was the founder of chicago software company invests net, it's believed that he and his wife 57 year-old mary miller had been picked up from sfo. a chicago news outlet reports the couple is survived by 7 children maureen kelly kron 4 news. >>in the east bay, a middle school in fremont was evacuated this morning because of an anonymous bomb threats fremont police say nothing suspicious was found on the campus and they are now investigating the e-mail and where it came from almost 1300 students at thorton junior high school were dismissed from clas

from a legal point of vw,

>>had been driving the cab that was slammed into by a vw sedan on northbound one oh one near candlestick point at 12:30am y. the chp says the driver identified as emily ross of hillsborough was also killed in the crash ash going t initial investigation suggests she was possibly under the influence of alcohol, according to the dmv the 34 year-old had a clean driving record with no previous accidents. convictions or suspensions on file to passengers in the cab were also killed in this reck 62 year-old judge bergman. >>was the founder of chicago software company invests net, it's believed that he and his wife 57 year-old mary miller had been picked up. >>from sfo. a chicago news outlet reports that the couple is survived by 7 children maureen kelly kron 4 news. >>will stand trial again for the 36 people who lost their lives in the 2016 go ship warehouse fire. last month you may recall the jury was unable to reach unanimous decision in the first trial in this kron 4 says made reports now. today prosecutors decided to retry the case. >>there will be a retrial for derick almena the master didn

he wants to more than double vw's market value.ces to the main vw audi and porsche units. that is the bloomberg business flash. francine: thank you. let's get a little bit more about markets and what is worrying economists. we have that stark warning from the imf last week with tom keene and the imf meets with central bankers and finance ministers from around the world. let's get back to jeremy stretch annual wayne. first of all, if you look at holistic approach to the world withmy, what would you do central banks? are they doing more harm than good? >> i think they are doing more harm than good. there's no doubt negative interest rates are causing a lot of pain in europe and in japan and ironically in germany. negative interest rates are causing the germans to save more rather than to spend. counterintuitive to most of us anglo-saxons would probably have spent more the germans are saying this is not sending a good signal. i think inevitably, mario draghi, as he heads to retirement, is pleading for more fiscal stimulus. where is he

businesses might ultimately give them some pmomentum and scale moving forward >> not many players left vwaudi and porsche what we would see is a europe with effectively two major car companies. i'll put renault still with nissan this is a major consolidation. >> it is astonishing it tells you a lot about how the auto investor views the space. trading at six or seven times forward earnings the reality is in spite of this john going trade war story it is probably worth pointing out that don fanni don fang motors is in this too talking about the ramifications because there is an american story in the mca business and a chinese story. will this current administration want to see these get into bed together >> true story. i think in 1980, my parents owned a peugeot diesel wagon for about three months on deck, the ncaa says college athletes can get paid but is it going to be a double edged sword? p but first, 12.4 billion is how much california wildfires cost in 2018 as two major wildfires continue to burn in southern california right now we'll go to jay gray with the latest on the devistaastat

did beat--viviana: vw excitations for third-quarter earnings.business flash. alix: still with me, alessio de longis of invesco. i wanted to tie this auto conversation with pmi's. if you come inside the bloomberg, this is pmi's for china, the u.s., and the euro zone. how much of that is autos? do we stabilize? do we get better? do we get worse? alessio: i think there is a combination of trade wars, as we talked about, but overall cyclical dynamics getting tired after a very lengthy cycle. this chart really shows what we already know. it just brings it to the forefront, the underperformance highest,, which is the in terms of percentage of gdp. it is the most open major region around the world. they are dependent on auto. it is the lagging region. what we are seeing next to the if you were to, take a look at the emerging markets composite, it is where we are seeing the most clear signs of a turnaround, may be premature. but it really seems -- it makes sense fundamentally -- this rebound could be led by emerging markets. insaw this, by the way, back

vw announced that is not on the agenda and any speculation is unfounded.ning in seoul, japan offline. what are you watching? sophie: a risk on move is taking hold. checking on the risk barometer the dollar set for the first gain in four sessions, rising the most against sterling and the yen. treasury futures opening little changed near a one-week low with cash trading shut this monday. and aussie bonds falling with the yield climbing across the curve. in a few minutes we will earn how singapore's economy fared in the third quarter as growth stagnates. central bank expected to ease its policy stance with and if aty how much reduction to zero is in the cards. the sing dollar is on a firmer footing with the exchange rate staying above the mid-point of the estimated policy band. most economists expect weakness or the currency on the -- we will get lots more on that. in the next hour of daybreak asia we are breaking down the third-quarter gdp print. also expectations at the central bank, policy decision coming out and it will be on the side of easing. selena la

vw says it is monitoring the situation and is concerned.kish factory would grow sales across eastern europe and the middle east. strictest esg's funds are snuffing the world -- the $15 trillion u.s. treasuries market. the so-called socially responsible funds shun treasuries based on the u.s. government stance on capital punishment or climate change. one of those funds, a $36 billion french pension plan. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. alix: bob doll is still with me. do not think i have ever heard of that. maybe when it comes to tobacco stocks, big oil, but shunning treasuries over climate change? what you think about that? bob: it is a moral issue, isn't it? alix: but that is a huge market. what is your outlook for this going forward? bob: i think we'll have climate change and other things creep in. the world is changing and this notion of what is acceptable and what is not, what is moral or what

there was a woman and a silver vw sedan that appeared to be driving the wrong way on northbound 101 and chp said she hit a taxi nearly head-on in the driver of the taxi was carrying two passengers and unfortunately, no one survived the crash. the woman who died in the sedan was in her 30s and the taxi driver was a man in his 60s and it's not clear the ages or identities of the two passengers he was carrying. one of the taxi drivers from the same company showed up on the scene early to figure out what happened. >> i'm feeling bad when i saw that taxi with the people on the floor. i said, oh my god. that's my company. >> reporter: the woman said she feels terrible for everyone involved and the chp is investigating whether drugs or alcohol played a factor and whether everyone was wearing their seatbelt. one of the passengers was ejected in the crash. chp was able to spot the accident because an officer was driving on northbound 101 and pass the accident and when they looked, they saw that there was calls from people who reported seeing the wrong way driver near 101 and 280. it's all still

i'm going have the fastest air-cooled vw. i'm going have the fastest chevrolet.world. >> reporter: while all of this runs its course, brenda bowen's work continues. you believe it's a combination of factors that leads to less salt on the track? >> yes. >> reporter: those factors include what? >> the mining and extraction that's been going on for 100 years. it also includes changes in the environmental conditions and then also land use and how we're manipulating the landscape with roads going through, and the racers on the surface. >> reporter: we reached out to the mining company, intrepid pot ash. they declined our request for an on-camera interview, but now say they're voluntarily running hundreds of thousands of salt every year. the racing association says it's not enough. they also told us they believe any effect the racers are having on the salt is negligible in comparison. what should happen here? >> i would say leave it alone for a few years. don't come out here, don't drive on it when it's wet. give it a minute, and let's see where it gets to. >> reporter

where is gm, vw?all legacy car companies will get drawn into this even if they would like it to move very slowly or else they would not be able to sell vehicles in the state of california. and they certainly would not be able to sell vehicles operated in cities like new york, london, oslo, norway, los angeles. it's going to move at the pace of those cities that are going to take matters into their own hands. they will all get into it. but if you asked me who is the biggest competitor to tesla, we don't think it is toyota or general motors right now. we think it is large tech firms that are worth $1 trillion, worth more than all of my auto companies combined, that generate cash that are equal to my entire industry combined, and it is more of regular recurring cash. these are the type of companies that have the ability to attract talent and capital, and lose money if necessary to take on some alike tesla. capx spent $20 billion in over the last decade. that kind of thing will be a difficult task for a l

vw says it is not on the agenda and any speculation is unfounded. still in the next hour. the president and ceo of american apparel and footwear association joins us to discuss the impact the trade war has had. and our exclusive interview with the malaysian finance minister talking about his country's plan to bring in new investment. this is bloomberg. ♪ ♪ everyone uses their phone differently. that's why xfinity mobile lets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year on your wireless bill. plus, get $250 back when you buy an eligible phone. that's simple. easy. awesome. call, click, or visit a store today. haidi: i'm haidi stroud-watts in sydney. we all shery: i'm shery ahn in opening. new york. sophie: i'm sophie kamaruddin in hong kong. welcome to "daybreak: asia." stories, pre

he wants to more than double vw market value.ain vw, audi, and porsche units. a private equity firm agreeing to buy british cybersecurity office group for $3.8 billion. that represents a 37% premium. office provides i.t. security to a range of clients as small as dentist and neighborhood stores. shares of apple begin the day on a record high. on friday, the stock rising almost 3%. that made apple the most valuable u.s. company again, beating out microsoft. both have a market value of more than $1 trillion. i'm viviana hurtado and that is your bloomberg business flash. alix: i still have not bought my new iphone. i have a five, it is an ongoing joke. i am watching wework, maybe we will see softbank take over the company, maybe we will see jp morgan, but the most interesting part was when we had bloomberg opinions say it is unusual for venture capital company to become the parent company. that is the realm of private equity. what are you doing, guys? romaine: i do not understand. at some point you know when to cut your losses. we h

that puts them in opposition to ford, honda, volkswagen and vw. they support the highest number of car sales with carmakers all saying they want to know, with certainty, what the standard is so they can plan for the future. >>> today, the ceo of boeing will answer questions from a senate committee about the company's troubled max 37 jets. dennis muilenburg is expected to start by saying boeing now knows its mistakes and is doing everything it can to fix them and his expected to say the max jet will be one of the safest planes in history when the changes are complete and the house transportation committee chairman said those improvements should have been made before the max jet began carrying passengers. 346 died and two crashes involving the jet. >>> the ncaa board of governors' meeting since the proposal was adopted to allow college athletes to accept endorsement money without penalty. the ncaa said it's willing to change with the times but will not eliminate the line separating athletes with pro sports and more than one dozen states are consider

that their law school education was tilted so strongly to the left, that they were not hearing oppong vwsarrator: abortion. busing. protections for criminals. gay rights. the federalist society founders ought the courts had gone too far to the left. >> for years, for decades, the left, as we call them, progressivesa lot in the democrat party, were getting a lot of their agenda passed through the courts. >> narrator: what began as a student group quickly grew, a job network, then a pool of prospective judges, s.pported by powerful conservative don >> the olin foundation in particular, the brad foundation. there's this handful, thiste clof far-right foundations th tons on o money in them. and they start to nurture the fedelist society. >> ...many members of the federalist society... n >>rator: during reagan's presidency, more than half the political appointees of the justice department had ties tome the federalist society, as did all 12 assistant attorney generals. >> i have an acronym that i use when i think about the federalist society. what's the main idea, m-a-i-n,i- right? money, acces

we will hear from vw, cutting delivery targets but no change in their gardens -- guidance.from a lot of banks today in terms of those outside germany, santander and credit suisse surprised by beating the estimates with third-quarter profit. dropche bank had revenue of only 4% at the core bank, but it had a big loss of a billion dollars and saw trading fall 13%. anna: we will keep an eye on airbus, cutting their delivery target. keep an eye on l'oreal. rbc describing the numbers on l'oreal as awesome. trading day is minutes away. this is bloomberg. ♪ ♪ anna: a minute to go until the start of cash equities trading. welcome back to "bloomberg markets: european open." a little bit of downside in the asian session, but not by much. really waiting for the fed, waiting to see if we get that third interest rate cut of 20 and crucially, waiting to hear the tone from jerome powell -- 2019 and crucially, waiting to hear the tone from jerome powell and team. s&p futures also mindful of the fact that we need to hear from the fed. also mindful of the busy agenda we have had on corporate

plan to is part of vw's dethrone tesla as a leader in premium electric cars. that your bloomberg business flash. matt, anna? matt: thanks very much. oanh ha joining us from hong kong with the business flash. it has than a gloomy week for the u.s. global market. the lowest manufacturing jobs gained, slower hiring, a drop in business hirings, and the worst services index in three years. take a listen to what fed speakers had to say. >> you have idiosyncratic the laborat affect market and inflation rates. it is not just the labor market. >> trade uncertainty has been very important for the weakness in manufacturing. i have talked to so many business executives, manufacturing executives, who have indicated there is a good deal of uncertainty. look at the cyclical part, it certainly is correlating with tightness in the labor market. >> we are seeing signs of the economy slowing, and we want to get monetary policy positions to keep the economy growing at a sustainable pace. >> everyone has been more cautious, and we have not seen the increase in the business inspect

but how would i even get this there -- like, on my vw beetle? jess: we've definitely done it.is: roof rack. this is jess. lemonis: how are you? jess: hi, marcus. lemonis: i'm marcus. jess: nice to meet you. lemonis: and you're jess? have you ever been on this thing? jess: oh, yeah. for sure. yeah. chris: we all go paddle. yeah. lemonis: what does something like this cost? chris: that's $2,000. lemonis: and then, what does it cost you? chris: about a 30% margin on those. lemonis: that's it? chris: yeah? ♪ lemonis: paddleboards are gigantic, and they're taking up a ton of space, a ton of inventory dollars, but a 30% margin? the overall store margin should be at least 50%. how do you do? i'm marcus. tony: tony. lemonis: nice to meet you. tony: good to met you. me and chris actually grew up together. lemonis: what is your role on a daily basis? tony: it's inventory management and marketing management, i.t. jess: i manage the highland park location. lemonis: okay. chris: i do the accounting. i do the buying -- just the overall general strategy of the business. lemonis: what did you

the vw identified companies that are interested in adopting the brat -- the battery technology whichfrom 2021. paul: i tencent mobile game is enjoying a blockbuster start. this is the first day of its release. analysts say it has generated a quick $2 million in player spending. downloads rivaling mario kart tour which is one of the most successful game launches of all time. facebook introducing a no -- new mobile app which allows users to stay in close contact with a small circle of people. sharing videos and status updates automatically. the messaging platform is designed to help instagram's one billion users develop closer connections with joseph contacts. fell asnts of snapchat much as 7% on news of the launch. paul: apple is reviewing a decision to reject a hong kong app to track police activity in the midst of the democracy protests. version which app helps users avoid potentially dangerous areas. apple says it was rejected from the store because it facilitates, enables and encourages activity that is not legal. before we go to markets asia, we are seeing the japanese nikkei und

one final question i wanted to switch topics, if all right you and i have discussed wells fargo many vwtment of the new ceo is he the right man? what's your take on if he hits all of his targets he could be paid $20 million in his first year >> well, i don't know except to say this it is not the matter of simply getting a new ceo. it is a matter of understanding the culture that had developed in wells fargo and how deep that goes in wells fargo. it was not only about the fact that they were opening up accounts in their customers' names. it's also about the fact this they were charging them for insurance that they did not need and so all of this has to be looked at. i believe, and i have said that i believe that wells fargo was too big. now, i've made some decisions in my mind about wells fargo. they've been fined billions of dollars. and it seems this is just the cost of doing business and i think that we have got to make sure that wells fargo does not continue in any shape or form that it has worked in, that we've got to correct all of the fraud, all of the ways that they have gotten p

the newst to which -- headlines were about nord stream powerstation, vw's suv sales.arbon emissions. that is very much the heart of what the german economy is and what it does and the difficulty coming to terms with it. populism seems into that. francine: thank you both. us. with keeping a close eye on shares of a french carmaker and italian carmaker fiat chrysler. gaining some 9%. this is bloomberg. ♪ ♪ "surveillance." jobs day tomorrow in america. a fed day yesterday and tomorrow. jon ferro and i will speak with the vice chairman of the federal reserve, richard clarida data, to redefine the solid american economy, a word that he uses often. look for that in the 9:00 hour. francine: let's have a look at what the rand has been doing. following the most since september after the country explained the cause of bailing out the power company. ascomave selected a new leader to be announced. a minister -- is a minister. investors were surprised yesterday when looking at the budget in south africa that it contained little detail on how some of the debt of eskom will be reorg

vw says it is monitoring the situation and concerned about current departments.is would help grow sales across eastern europe and the middle east. prime minister boris johnson's brexit deal is hanging in the balance. the european union says talks may need to continue after the summit that begins thursday. "the telegraph" reports it it was taking shape. the news -- a deal is taking shape. the newspaper reports there is a solution to the irish border problem. global news 24 hours a day and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. this is bloomberg. tom: let me do the data check right now. equities, bonds, currencies, commodities. i see it down here on my monitor on the floor. we will get the sterling in a moment. euro churning with a little bit of curve steepening over the last number of days. onto the next screen, if we could and the idea of the vix 14.14, stable market and that columbus day, really low volume day yesterday. sterling. we are on the six watch on lira. that is a stronge