yvonne: i am yvonne man in hong kong. service trying to revamp against uber in japan. ryan fowler joining us in tokyo for the details. it has been remarkable in the story where uber showed they have not made much of a dent in japan. tell us more about the incumbent they are up against. uber first came to japan in 2015 and it has faced a real struggle to make inroads here. there are three main reasons. one, the standards here. japanese cabs -- i may be biased, they have the highest standards in the world, the cars are immaculate, the drivers, unfailingly polite. and all the cars come equipped with a navigation system so it is easy to get to your destination. also, the unions lobbied the government to create strict regulations to prohibit private drivers from operating in big cities. the third thing, japanese culture. it is not a culture that puts a lot of value on cheap services at the expense of high-quality. we favor high-quality here. all of those reasons of combined to make it hard for uber to get a foothold in japan s

i am yvonne man in hong kong. betty: i'm betty liu in new york.e getting more headlines from the san francisco fed president, john williams. the not a voting member of fomc, but is talking about rate hikes. he says in 2017, one more hike, three more in 2018. that's his reasonable guess. he also says there is no need to raise rates "that far." he also mentions he sees a period of continuity under jay powell at the fed, which the transition will have an early next year. also says inflation will pick up in the next two years. jay powell is a consistent supporter of fed policy path, this theme of gradual pace when it comes to hiking rates. certainly, one more for december, three in 2018 is his reasonable guess. let's take more context here, we are joined by ric spooner from cmc markets. let's talk about these lines coming through from williams. what did you make of them? it seems like the fed is starting this mantra where inflation is heating up, but the bond markets continue to really doubt those calls. safe from inflation or is the market just disto

here in hong kong, i am yvonne man. welcome to "daybreak asia."isepacific markets set to as the s&p 500 hit a new record. the hang seng, less than 200 points from 30,000. there is a cloud in the horizon. it is china, systemic financial risk. betty: i am betty liu in new york where it is just after 7:00 p.m. this tuesday. all change at hp. meg whitman to quit next year, the stock slumping an extended trade. sides, janet yellen does not want a boom bust economy. she just wrapped up remarks. ♪ itnne: that q&a just ending and. a fireside chat more than a question and answer panel. very lighthearted moments, talking about her first days and weeks as fed chair as she does wrap up one of the last speeches we will hear from her before she steps down as fed chair. a lot of talk about inflation as well. betty: saying the fed is not certain low inflation is indeed transitory. pretty significant headline coming from her. mention, wide-ranging talk from everything from her first days at the fed, do the most interesting person is she has ever met. certainly cov

i'm yvonne man. on friday is declines. the biggest one-day swing in a year.raders are concerned about the great tax debate in washington. a capital uphill battle. and i am betty liu here in new york. just after 7 p.m. on this thursday evening. president trump taking his message to aipac. we are going to have a touch of retail therapy as we just talked about. alibaba single day features millions, raked in billions. we will be live in honcho. ♪ yvonne: betty, not sure how much shopping president trump is going to get when he had to vietnam. he might be missing out. .e is expected to head in their tweeting out from beijing. meetings were very productive on both trade and the subject of north korea. he is a highly respected and powerful representative of his people. it is great being with him. betty: a lot of warm words exchanged during this today visit. when it came to tangible results that wereion of deals announced. not much outcome. it was really quite interesting to see president trump tone down some of that rhetoric. we have got to remember that i is coming

yvonne: i am yvonne man, welcome to "daybreak asia." japan's return, but most attention on china after the sharp slump to read david: beijing may turn on digital. a $40 trillion financial services sector. yvonne: the shakeup at the world central banks. how many in asia will stick or twist. david: hitting the street, china's answer to road congestion is to take to the skies. a special report on drone taxis, next. ♪ david: we are getting the tokyo session up and running. we have been out for 24 hours, no u.s. trading overnight. let's take a step back, it is friday. goldman sachs came out with a note, 620 by 2018. we are currently at 567. the record high won was in 2007 at 588. hopefully we get there. yvonne: hopefully, but the selloffs in china are the big picture. given the steepness we saw in the late part of the session, you have to wonder if it is the start of a market meltdown. most traders say, we are not quite there yet. there is a big rally we saw throughout the year, we are just taking money off the table at the moment. that is wh

i am yvonne man.first of many meetings with north korea high on the agenda. a clear message, warning opponents not to challenge the united states on land, sea, or air. >> i am betty liu in new york. it is just after 7:00 p.m. sunday. saturday arabia's night of the long knives, the world's 50th richest man detained. new warnings about that in china. the pboc governor says the system is more vulnerable. ♪ >> take a look at president , alsos trip to asia implications of this saudi shakeup over the weekend with the crown prince of detaining several business leaders, officials, and princes in this anticorruption crackdown. yes, this could be a power grab, but what does this mean for those business leaders targeted? we still don't know why they have been charged, but it could on theing a damper investment climate in saudi arabia and could have implications for the oil markets. this is chart 5083. we are seeing brent net longs and jumping to a record high. been baked in on opec and whether they can extend ou

yvonne: i'm yvonne man in hong kong. get a check on asian-pacific markets of the headline over night was the s&p hitting yet another 100-point milestone. we are looking at comments coming out from janet yellen at nyu, saying they are reasonably close to their goal. favorablying markets benefiting from the lead-in that we saw from wall street. take a look at the australian session, just getting underway, and we have seen the aussie, in particular, hovering around those five-month lows.stocks are up about 0.5%. robeard from rba governor lowe's saying there is not a case to move rates. let's take a look at how things are setting up for japan, as well as korea. checking futures in chicago, it looks like we could be seeing another good rebound in tokyo. dollar-yen, we are seeing yen strength overnight, 112.47. betty: let's take a look at the mexican peso quickly, because it is falling on headlines coming out from the u.s. trade representative light highs are saying, there's no evidence that canada and mexico will seriously en

i am yvonne man. welcome to "daybreak asia." president trump heads for seoul on the second leg of his asian tour. talking tough, but coming up short, trump leads japan empty-handed on what he calls unfair trade practices. betty: and from bloomberg's global headquarters, i am betty liu in new york, where it is just after 7:00 p.m. on this monday. it could be a cruising $105 billion takeover fight. megamergertching its wireless talk collapse. he said the failure presents an opportunity. thinking like a billionaire. >> definitely look at softbank shares at the open. on the merger talks. looking ahead to president trump arriving in seoul this morning. on the itinerary, he is going to be having a dinner. he could be visiting camp humphreys. he is not going to the dmz, which has been a long tradition for many u.s. presidents. a lot hanging on this trip here. betty: a lot of bravado coming from trump and from monster sayoshi-san. maximumlking about pressure on the north korean leader. we heard that from shinzo abe as well. earlier hadr

yvonne: i am yvonne man in hong kong.ching "daybreak asia. " >> house republicans had begun rolling out proposals for tax reform, something president trump says will be a christmas present for america. paul ryan pledged fast action, saying he will revamp the tax code for the first time in three decades. the plan includes cutting the tax rate to 20% and a levy of up to 12% on companies' offshore cash. jerome powell expected to be the next fed chairman, pursuing the goals of stable prices and maximum employment, while watching risk. powell has been a fed governor since 2012 and is seen as a candidate for continuity. he favors gradual rate hikes and looser regulation. it is subject to senate confirmation. >> inside the federal reserve we understand monetary policy decisions matter for american families and communities. i share the sense of mission and am committed to making decisions with objectivity based on evidence, in the long time tradition of monetary policy independence. >> the u.s. is leading a global anticorruption

i am yvonne man in hong kong. >> i am betty to in new york.how people which pages or accounts they follow or like by year end that are connected to russia. it will let users see if they were affected by postings from the internet research agency that created divisive posts from fake accounts. google and twitter should also do the same a committee member says. weighing whether to let clients bit on the prices of bitcoin fire futures contracts. j.p. morgan boss jamie dimon has called bitcoin a fraud and buyer stupid, but the bank is open-minded on digital currencies. aston martin says its new vantage has sold out almost all of its production run next year days after the model went on sale. 80% of private buyers offer the chance to order have done so in the first deliveries are expected in spring. it is central to aston martin's effort to establish profitability ahead of an ipo. delivery of 48 new planes through 2022 and has multiple aircraft from airbus. says growth increasing capacity climbed. fuel hedging ratio is climbing next year. >> tomorr

in hongi'm yvonne man kong.ermany faces the prospect of another election after coalition talks fell apart, and chancellor merkel said she would not try to form a minority government. she said she is due to go back to the voters than destabilize the country. i have no plans for a minority government at the moment, so we have to wait. the country has so much to do, it something that will be thought of very carefully. i think new elections would be the better way. yvonne: the euro fell against a majority of its g7 peers as merkel's attempt to form a government collapsed. investors questioned how these developments might impact economic growth. sean, a bit of a roller coaster when it comes to the euro in the last 24 hours, merkel saying, never say never, but pretty skeptical when it comes to form in some type of minority government. where does that leave the euro? think a downward bias is the short answer. there is a renewed political risk premium in the euro. arounda large premium the french elections in particular

i am yvonne man. lawmakers are trying to finalize the votes they need for a tax bill that will make it to president trump's desk by the end of the year. they will plan about as soon as thursday. we are joined by the asia editor jodi schneider. does it look like they might actually get this done? reporter: there is certainly a chance. they certainly want to. republicans in congress and the trump administration the legislative victory badly, and this would be a big one. tax reform is not something that has happened since 1986 in the reagan years is the last time the tax code was overhauled, so this would be a big win. but there are still hurdles in the senate, getting it through the senate where you need 50 votes, and they can only afford to lose to republicans and some republicans have expressed some concern. no democrats are expected to vote, and even if they get there, they it to reconcile the house. they want to do it by the end of the year, and that is quick. there are very few legislative days lef

i'm a yvonne man. this is bloomberg.ead, china is asving the energy revolution a winter gas crunch looms. and this chinese data a short while ago, we will go through those numbers with a fine tooth comb. this is bloomberg. ♪ ♪ rishaad: we got chinese economic data at the top of the hour. our chief china economist is with us, the top forecaster for china industrial production, which was a little weaker than expected on some of the measures. in line and year to date come up right on where the consensus was. what was your overall takeaway? inst: i think overall it is line with expectations, and our story of gradual moderation of the chinese economy, particularly in q4 and next year. ,here are some factors temporary disruptions due to the , but we do look for some potential further downward pressure coming from the winter season. rishaad: we have pollution control in the story, that has arguably been taking away some of the capacity out there. how much has actually done in that regard? in different sectors the situation is p

i am yvonne man. big numbers in beijing.resident trump expected to announce a quarter of a trillion dollars of deals on his trips. chinese ceo's like what they see, the president is good for business. betty: he wants to be a dealmaker, he is a dealmaker. i am betty liu in new york. it is just after 7:00 p.m. and wednesday. expecting to continue the rally in wall street. nissan cuts for your forecast on the uncertified inspection scandal. they say the u.s. market will be critical. ♪ yvonne: markets seem to like the dealmaking that could be happening in asia. the donald trump a visit we have been calling it in the region, gone pretty smoothly so far. the state visit in china, they haven't rolled out the red carpet, the chinese opera. it seems this relationship between president xi and trump has softened more. we will talk about the deals we are expecting. betty: $250 billion worth. a common theme that we are hearing from many of our guests is, the real work is going to happen afterwards. it is nice to see the pomp and circumst

i am yvonne man. welcome to "daybreak asia." president trump says world leaders are treating america with a long-lost respect. softbank may invest in saudi arabia. they could see a new high-tech city on the red sea coast. sending badge of honor, tencent to a blowout quarter, enjoying its fastest growth in seven years. and self driving cars, the future is on the line. we're live it baidu world in beijing. ♪ yvonne: it seems like the stress of the markets easing off a bit, which is a good sign. it is how you read the sentiment. is it that the valuations are overstretched, uncertainty over tax reform, also, is it just the end of the year and traders are closing their books? it seems traders are using this opportunity to buy. betty: it seems to be the mantra you keep hearing these days. adding to the media mentions of buy the dip. these markets have been going up and up it is about time for a correction. it would not be a surprise. he seems to be in that camp, once we see a correction, it is time to buy into these markets. we will s

yvonne: i am yvonne man in new york. -- and hong kong.ryone is on board with the republican tax plan. senator susan collins says the bill still needs a bit of work. there are provisions in both bills i like but i think the bill needs work. the biggest -- >> you can't vote for it is written. >> i have not reached that conclusion yet because i think there will be further changes, but the biggest mistake was putting in a provision from the affordable care act into the senate bill that is not an house bill and i hope that will be dropped. yvonne: let's see where it goes now. potentially a pretty big week here when it comes to tax reform. susan collins, how crucial of a vote is that for the gop in the senate? know susan collins was one of the republican senators -- doomed the failure to failure of the plan to repeal and replace obamacare. she isa crucial vote and not happy the obamacare element has been added to this tax bill. she was noncommittal today the clearly has a lot of worries. she also had worries about the corporate tax rate and how

rishaad: first word news here with yvonne man. markets across the gulf fell after the corruption crackdown in saudi arabia. geopolitical titans -- geopolitical tensions heighten there. saudi arabia arrested prominent investors and members of the royal family over the weekend and blamed a ron for political -- blamed a ro -- blame iran for political upheaval. listed prices,s saying north american shale more than 7cost billion barrels per day by 2021, 66% higher than the forecast a year ago. been thisemma has problem that curbing its own supply can help rivals meet demand --, rivals while demand remains little changed. >> we need to make significant and fundamental changes. the global oil market has from a numbertum of important factors. yvonne: democrats have claimed the keys to governors mansions in two u.s. states. a virginia, route northam won vote seen as a key barometer for swing states in next year's midterm. tweeted thatmp has provoking candidate gillespie did not embrace him already stands for dashcam or what he stands for --

i am yvonne man. welcome to "daybreak asia." wall street declines said to spread asian markets.tors concerned about tax reform and inflation. a resource glut also ways on stocks. oil drops, the most in six months. global bloomberg's headquarters, i am ramy inocencio in new york. p.m. just after 7:00 tuesday evening. more pressure on the government and boj.

yvonne: i am yvonne man, welcome to "daybreak asia." t most attention on china after the sharp slump to read david: beijing may turn on digital. a $40 trillion financial services sector. yvonne: the shakeup at the world central banks. how many in asia will stick or twist. david: hitting the street, china's answer to road congestion is to take to the skies. a special report on drone taxis, next. ♪

i am yvonne man. welcome to "daybreak asia." president trump heads for seoul on the second leg of his asian tour. talking tough, but coming up short, trump leads japan empty-handed on what he calls unfair trade practices. betty: and from bloomberg's global headquarters, i am betty liu in new york, where it is just after 7:00 p.m. on this monday. it could be a cruising $105 billion takeover fight. softbank watching its

i am yvonne man. welcome to "daybreak asia."rump says world leaders are treating america with a long-lost respect. softbank may invest in saudi arabia. they could see a new high-tech city on the red sea coast. sending badge of honor, tencent to a blowout quarter, enjoying its fastest growth in seven years. and self driving cars, the future is on the line. we're live it id

live from bloomberg's asian headquarters, i am yvonne man. welcome to bloomberg "daybreak asia."faces a confirmation hearing later. to gut theged building and refine the regulatory building. betty: im am betty liu in new york where it is just after 6:00 p.m. bob iger's

i'm it yvonne man. welcome to "daybreak asia." asia-pacific markets are set to continue gains.lso speaking this hour. there is cloud on the horizon. it's in china. >> from bloomberg's global headquarters, i am betty liu in new york where it is just after 6:00 p.m. on this tuesday. sackinging headlines, staff after paying to conceal a hack that compromise the

i am yvonne man, welcome to "daybreak asia." republicans rollout their tax proposals.d says he sees will for the first revamp in three decades. says his fed would keep a close eye on financial sector risk. bloomberg's global headquarters, i am betty liu in new york, where it is just after 7:00 p.m. thursday. the iphone x the finally hits the stores, are you excited?

i am yvonne man. big numbers in beijing. expected to announce a quarter of a trillion dollars of deals on his trips. chinese ceo's like what they see, the president is good for business. betty: he wants to be a dealmaker, he is a dealmaker. i am betty liu in new york. it is just after 7:00 p.m. and wednesday. expecting to continue the rally in wall street. nissan

i'm yvonne man. welcome to "daybreak asia."ms she will leave the fed with her successor taking the chair next year. germany faces another election as chancellor merkel rolls out trying to rule by minority. >> from bloomberg's global headquarters, it is betty liu in new york where it is just after 6:00 p.m. on monday. the justice department is going to court to block at&t's takeover of time warner, a major blow to the $85 billion deal. feeling the heat -- the white house designatesor

i am yvonne man. this is bloomberg.: the political power-play ,ut of soured -- saudi arabia those gains are being held and it is playing out when it comes to the equity sessions in asia. at itskei 225 looking highest since 1992. here in australia, levels we have not seen since the financial crisis. quite a bit of uncertainty when it comes to geopolitics, as we do have this presidential trip to asia. the thing is, quite a few companies are yet to report. let's check on the markets. fort could be more fuel this beast. check out this rally. 225.ikkei the yen is weakening once more, down about two tents of a percent. shares in hong kong are leading the charge in the region. the five-year-old bilateral trade deal that hangs over the talks, there will likely be a heavy focus on the auto industry as trump is seeking to push more american-made cars to be sold in south korea. ahead of his sitdown, we are seeing the korean won gaining ground. korean authorities may tolerate the appreciation while trump visits. it is the best-perf

i'm yvonne man. on friday is declines. the biggest one-day swing in a year.oncerned about the great tax debate in washington. a capital uphill battle. and i am betty liu here in new york. just after 7 p.m. on this thursday evening. president trump taking his message to aipac.

yvonne -- scarlet: and that was howard marks speaking exclusively to yvonne man.t in a special series with alix steel looking at the effect of shale on the global oil market. this is bloomberg. ♪ julia: all week long we are getting into shale, the meter rock rise -- meter rick rise of shale has sent ripples through global market. we examine the history, the environmental issues and to the effects on opec. the break it all down is our colleague alix steel. great work this week. what was your biggest take away and obviously we love doing the overall and the hat? alix: you can watch my show at 9:00 p.m. eastern, tons of hardhat action. to be around shale for a long time, but i learned people not in the industry do not understand the potential of it and how much it could change the world. my point was to access the financial market people, but also my mother at home who needs to learn about it. and what is the next stage? do we keep growing at the same kind of rate in the u.s., and if we do not do we take the technology elsewhere? joe: i was going to ask, do people no

i am yvonne man. betty: i am betty live.hong kong united of a chinese steelmaker is ditching its name hna holdings. they will call themselves cwt international based on a singapore warehouse it bought. the new name will better reflect its strategy. and logisticsy have become hna holdings for businesses. yvonne: south korean media reports the government plans to sell if 90% stake in foodie bank until next year. the -- they say they have been forced by the resignation of the ceo over eight kindle of the hiring of children of government officials. the draft is submitted on sunday. companyapanese gaming starting to a high after a forecast from the current fiscal year. operating profit $800 million up from 360 million. anothery are buying studio that makes storybook games for smartphones. this is the largest in five years and is intended to fuel expansion outside asia. and of course we are seeing leaders of the asean nations arriving for the summit of two days of talks. yvonne: yeah. now we have rishaad and heidi. ♪ stocks onsia

i am yvonne man. this is bloomberg. david: thank you for that update.s business with japan is another fair nor open or cheap. stephen engle is covering the president strip and is what is right now. president hass. been taking his possession -- his position quite early since his arrival and asia. of using thes kind iron fist and the velvet glove on both hands. once i come a saying in japan is a critical ally and a good friend of the united states, but on the other hand he is also saying, you have been cheating us all these years with this huge six $9 billion trade surplus with the united states, why aren't you buying more of our cars, more of our products, .hings like that they believed donald trump wants to break down some of what he calls protectionist tariffs. he also doesn't want to see too much more weakening of the yen. looktomobile front, you around here, and i have been here all morning on the street, you do not see any u.s. cars. in that sense, he is right. same thing and south korea, almost no u.s. autos on the streets. he might have a point th

tpp was the --t we yvonne: that was malaysia's trade minister speaking exclusively to bloomberg ahead summit.pec summit. let's cross over to da nang, w here we are standing by with the man the apec secretariat. so many different views on trade policy at the moment. linda: trade front and center at this apex meeting, the backdrop of negotiations getting tougher for economies to find common ground. good to have you with us. we know that trade is gaining momentum, but is it enough? what are the prospects for trade in the next 12 months? >> not bad actually. we are getting more growth than we have had for quite some time. prospects are pretty good. i don't think we will see a massive trade them. merchandise trade may have already plateaued. electronic trade, absolutely. that is what we're talking about now. much more digital commerce than we have seen in the past. haslina: we know china's growth is gaining momentum, poised to grow at 7% in the second half of the year. alan: of course china makes such a difference because it is so big. some chinese traders are moving inland as well. som movee from regional supply chains to domestic supply chains. driverill still be the aroun

live from bloomberg's asian headquarters, i am yvonne man. welcome to bloomberg "daybreak asia." trump's pick faces a confirmation hearing later. to gut theged building and refine the regulatory building. betty: im am betty liu in new york where it is just after 6:00 p.m. retirement is for real. the smashed dream of china's migrant million. we will have a special report from the streets of beijing. betty: we were going through some of jay powell's remarks issued earlier a day ahead of testimony in front of the senate committee tomorrow. it sounds like from these headlines coming up that he is pretty much going to stay in line, at least for now, with what we heard from janet yellen. he is walking into a conundrum. if you pull up this chart, the fed is continuing to raise rates in the face of what looks like investors disbelief, right? the yield curve, the treasury yield curve continues to flatten. it is puzzling a lot of investors why the bond markets are not showing faith in rising interest rates. reflected in the yield curve? it is walking into a conundrum. what are we going to