this is bloomberg. francine: president trump says he has fired his national security advisor john bolton. he left just minutes before a scheduled media briefing on terrorism. but bolton contradicted the president, saying he offered to resign on monday night. and the present have been disagreeing on many, many issues. strategist of wealth management and more from the politics side, we are joined by our senior writer. there is so much we need to get through. abrupt.rture seemed the timing was a surprise, but it has been well reported and known for months that trump and bolton had discrete and foreign-policy. most recently, afghanistan. however, he had been due to appear at the press conference announcing tougher sections. ,he secretary of mike pompeo they did not show up to that. that was a bit of a surprise. they had been sparring in social media over if he quit or was they are submitting he fired him. is chumsll be what fourth national security advisor. it shows the chaos and disruption. run his owning

this is bloomberg. cook has filed for administration leaving tens of thousands of children stranded abroad. the travel company failed to complete a last-minute deal for additional funding collapsing under a mountain of debt. all vacations have been canceled. the government will work to bring holidaymakers back home calling it the largest repatriation in peacetime history. joining us now is deirdre hutton. i know you are part of all of this repatriation, what advice do you have for travelers? deirdre: look, i will answer your question but can i say it is an incredibly sad day? thomas cook is the world's oldest travel company. 22,000 people using their jobs, 9000 of those in the u.k. but you are right, we have been the civil aviation authority running the repacked ration. it is a huge operation. airports to, 55 bring back 155,000 passengers. not a single one of those passengers are stranded. everyone will be brought home at or around the time that they were originally going to fly anyway. what they need t

this is bloomberg. ♪ ritika: this is "bloomberg daybreak." coming up in the next hour, an exclusive interview with the eu trade commissioner. this is "bloomberg daybreak." mark is --ail site's shmark is delaying its ipo until next year. it is a refill marketplace for secondhand, high-end clothing. at one point, the company hopes to go public this fall. starboard value has taken a box, a company that struggled to accelerate sales and become more profitable. star board has accumulated a 7.5% stake, according to a filing. the firm may seek charges and board memberships. a new court finding in the college admissions scandal shows the university of southern talked about admissions decisions that were not -- they said were not influenced by money. a father faces charges in the scandal. i'm ritika gupta. that is your bloomberg business flash. alix: sure. that definitely was not taken into account. david: i wonder how many other things they discussed that had not been required. a familyeard from applying to one of those schools. i wasn't surprised by

this is bloomberg. ♪ "bloomberg daybreak -- this is bloomberg. ♪ ritika: this is "bloomberg daybreak." the fallout from the vaping crisis in the u.s. is spreading to other countries. u.k. tobacco company imperial brands says it now expects revenue growth of 2% for the year ending september 30, down from previous estimates of 4%. the company blames a slowdown in sales of vaping products in the united states. michael bloomberg, founder, xiaomi -- founder and majority owner of bloomberg lp, has given money in support of a ban on flavored e-cigarettes and tobacco. british airways owner iag is warning that pilot strikes and lower ticket prices will hurt its annual profit. the company says profits will be $235 million lower than in 2018. it also cut its guidance to full-year growth. british airways was rocked this summer by its first pilot strikes since 1979. the warning follows this week's collapse of tour operator and airliner thomas cook. a banker for bnp paribas has left the bank after posting in support of hong kong antigovernment protests, sparking anger in beijing. major demonstratio

this is bloomberg. ♪ viviana: this is "bloomberg daybreak." i'm viviana hurtado in the hewlett-packard enterprise greenroom. coming up later today on "the gorman, morgan stanley ceo. now to your bloomberg business flash. almost every u.s. state joining in an antitrust investigation into google. the propyl focused on the search giant's business and its advertising practice. states attorneys general citing concerns google is raising prices for advertisers. they also questioned whether consumers are getting the best information from search results. british airways were forced to cancel almost all of its flight on the second day of a two-day strike by pilots. british airways thing the strike is costing almost $50 million a day. another walkout by the way is set for september 27. the ridges americans could see their fortunes shrink under a new wealth tax proposed by democratic presidential candidate elizabeth warren. that is according to two french economist who helped her devise the plan. billionaires such as jeff bezos and warren buffett could ha

juliette: this is bloomberg. ♪ juliette: this is "bloomberg best." let's continue our global tour of the week's top is in his stories. while the u.s. and china prepare for their next round of negotiations, the most recent data show the trade dispute is taking its toll. >> the data shows more weakness in the economy. industrial output on the way up. way below outputs of 5.2% gain. an expansion of 7.5%. >> it was quite a week across the board. industrial output, the worst reading since 2002. confirming a lot of it is due to a slump in the market, the feeling consumers are starting to crack, that is a key pillar. we saw the private sector, lagging government spending. it sets up the economy for a slow and to the year. >> president trump says the u.s. and japan have reached an initial trade accord which will be finalized. the president told congress the government will be entering an executive agreement with tokyo on digital trade. he made no mention of the threatened duties in japanese cars and he is set to meet prime minister abe next week. >> it appea

in london, we have bloomberg's, chandra-- bloomberg's, -- bloomberg's emma chandra. emma: richemont getting a little bit of a rise today as we had export data from swiss watches in august. plus 2.4%.in at analysts liking that because august is usually a quiet month for swiss watch export. richemont has been down 7% prior to today's news since friday of last week. it had been battered a little bit longer than that because it had seen some concerns about the slowing global economy, about the trade war, about demand in hong kong, particularly as protests have ramped up and have lasted for a number of months. richemont owns the brand cartier, iwc, and they make up about 70% of its revenue. that is its fine jewelry and luxury watch segment. they are particularly important for the likes of richemont. just this week, ubs rated them a sell on those concerns of the slowing global economy and chinese demand. alix: great information. thank you so much. next, we are looking at darden. sarah, give us the latest. sarah: darden reporting earnings this morning. you may know them at

>> coming up on "bloomberg best," highlights from the 2019 bloomberg global business forum. >> we are seeking to drive systemic change and transformational change. >> the world's most respected voices from business and government speaking about the world's most urgent challenges. >> we believe the earth is our mother, and we do not have the right to exploit our earth. >> there is fear around this nexus of trade and climate. >> a lot of policies are supposed to lift up the people of the country, and they dragged them down. >> one-on-one conversations and panel discussions examining problems that threaten prosperity and exploit pollution. >> it is 100% clear to us that the cost of inaction is higher than the cost of action. >>>> the rules are clear, we will follow them clear. >> i was running out to address climate change. it is right to hold our feet to the fire. >> it is straight ahead on "bloomberg best." ♪ doolittle,ail welcome to a special edition of "bloomberg best,'with highlights from the 2019 global business forum. it brings together the world's most influential leaders in bu

this is bloomberg. next. this is bloomberg. asia." his is "day break > our next guest says asian credits are attractive. union investment cio henry chan. henry, great to have you with us. we continue to see this risk on across markets and now spreading into asia as well. we're continuing to see this in around the world, whether it's or slowing global economy which doesn't bode well for merging markets. it for lenging is investors in the region? obviously, it's very .ard to say that.usly, we all know at least that we have the global to the banks coming rescue now. immediate policy response that's been helping the markets. are looking at how things are filtered through to economy going into next year. safe to say, it's not everywhere. as we're navigating the markets to be more selective whether we're looking at credit r whether we're looking at equities. i would say that the stocks and bonds are probably more the markets.han >> in your notes you say that and the 5-g component. tell us those sectors that you like at the moment. yes, if y

welcome to "bloomberg markets." vonnie: it is the final trading day of the quarter, and we are in the last day of september. the s&p 500 today, a little bounce up 0.4%. no huge moves. the best performer in the s&p is -- isands on an upgrade upgrade.brands on an i thought i would point to the 10 year yield at 1.69%. money flowing out of treasuries today, and crude oil down another 1.1%. we've been talking about the dynamics -- we'll be talking about the dynamics in the crude oil story in just a bit as well. guy: we've barely gone anywhere when it comes to stocks. over three months, up by 1.36%. bond yields getting absolutely crushed. we see prices jump. we see equity markets under pressure. it was a real what cup call for the market. after that wake-up call, we kind of gone back to where we were. what does fourth quarter bring? number last year's fourth quarter? december, incredibly rocky. this is the picture we have in europe. . stoxx 600 trading at session highs. we are up by around 0.3%. we have the holidays. we h

this is bloomberg. ♪ this is bloomberg. ♪ condo for bloomberg first take, -- time now for bloomberg first take. arry and tracy alloway with benjamin cignarella. the news has been all morning. ben, you're a traitor, and last night, we started trading futures. what you do today at 7:10? >> one thing the traders are watching very carefully, talks are coming back down, but this is not the first time it happened. they are threatening to happen again to it i think the markets are way too complacent. they are trying to sort out where you stand on this, because, look, it is not going to happen again tonight, but it will happen again, and how do you prepare for this going forward? it will be a big sea change in the shift when you look at emerging markets and developed countries. is one of myat takeaways third there has to be massive defensive on all the -- defenses and saudi arabia, particularly, the ones that are hit. is it a blip in the missile-defense system, or this is a very sophisticated attack, which leads to more issues. note, real that quick a my buddy of mine said the same thing, when yo

nejra: good morning from bloomberg's european headquarters. this is bloomberg daybreak: europe. these are today's top stories. president trump delays a tariff increase for china as beijing beijing considers. mario draghi heads into a tense ecb meeting with a rate cut looking a certainty. how much stimulus is enough? no deal scenarios. boris johnson's government publishes its words case -- worst-case brexit. ♪ nejra: welcome. it's risk on in the markets this morning. a delay from a tariff increase on chinese imports. a question over whether it's a reach out of goodwill. you are seeing the impact across markets. the msci asian-pacific index. you want strength. -- yuan strength. dollar-yen on the front foot. the yen hitting a six-week low. yesterday closed above 3000 for the first time in six weeks. we saw the nasdaq push higher in the dow move higher for six days in a row. the nasdaq getting a lift from those tech stocks rising to its highest level since july. u.s. futures point to further gains in the u.s. session today. oil on the front foot, tearing the losses we saw yesterda

this is bloomberg. ♪ ♪ this is bloomberg "surveillance." norway's central-bank is breaking further away from the pack and a decision most economists were not expecting. level in highest almost five years. joining us as the norges bank governor. thank you for speaking to us. this is going against what everyone else in the world is doing. his the economy -- is the economy viewed towards the global downturn? thet is not affected by international downturn. that is the background for the decision to increase the policy rate one step further, is that overall there is robust growth in the economy, unemployment is very low, at the target or slightly below when we looked forward. there is a time to make one further step, one cautious further step towards a more normal policy rate. then we have adjusted downwards the policy path, the path for the policy rate looking forward. that is exactly on the background of events, increased uncertainty, and slower growth as we see it internationally. francine: what does it take, what will it take for you to star

this is bloomberg. ♪ nejra: this is "bloomberg surveillance." the fed is considering altering its strategy for achieving rice stability according to richard clayton. the central bank could commit to making up half deviations from its inflation targets rather than treating them as misses. gallo.ith us is stephen what is your base case from what we get from the fed? we are in a rate cutting cycle. it's just a question of the timing. the other big question is the affect. u.s., andolicy in the you could argue fiscal policy, has more traction and maneuverability than it does in the rest of the global economy and other major economies. a point with a structural factors in play means that the impact of fed rate cuts and the broader em space and other g10 currencies vis-a-vis the dollar, is quite limited. analogy or time reference is immediately following the global financial crisis when we had a big downturn in growth in the health of financial systems and western economies. to,started printing qe1, and there was a huge ballooning of foreign-currency d

this is bloomberg. markets. this is bloomberg. this is "bloomberg daybreak: ."rope industry facing a number of issues including the trade war and fallout from the grounding of the 737 max 8 jet every let's get out to anna edwards who is at the world aviation festival. to see you. i am at the aviation festival. the directory general and ceo. good to speak to you. let's talk about the demand story and how trade tensions are affecting the industry. clear, theysment is are affecting the industry negatively. we have seen cargo demands dropping. it started at the end of last year. month after month, we see demand declining. which is an advanced signal of the impact of an economic slowdown, a downturn. now, thely, we see growth in passenger revenues also slowing down. it isnot negative but reducing. >> what is your assessment you graph of a of where we see weakness. some are saying may be the european economies are struggling a little. moreas the u.s. looks robust. >> our assessment is the following. ok.pe is the u.s. is slightly better. the region where the demand is

this is bloomberg. ♪ are watching bloomberg daybreak. i'm viviana hurtado. ♪ now to your bloomberg business flash. million in an ipo, the sale valuing the company at 4.4 billion dollars. cloud square helps companies distribute content. they do say that they get negative publicity from white supremacists on the snap network. a startup is making changes in its corporate governance. cofounder's the family will sit on the board. was valuedt, wework billion. it is expected to be valued at $15 billion in the ipo. that the has learned apparel chain is working to get $75 million for its restructuring. suggesteds have ining forever 21 rent exchange for interest in the company. i'm viviana hurtado and this is your business flash. david: thank you. today, we welcome in the chandra achandraand our guests. unanimously has rejected the take over bid. initially we saw the stock drop on the news of the recovery. it closed at 2% higher on the day and the london stock exchange board said it had fundamental flaws. they also raised regulatory concerns and

this is "bloomberg markets." vonnie: more positive headlines on china and potential discussions taking place in october, sending the s&p up 1.3%. we are use to the whipsaw of the markets these days. the 10 year yield right back up to 1.56%. at offshore yuan is trading 7.1440. one stock i thought i would point out today is roku. overbought levels, according to 500%t suisse, advancing since going public. guy: the pound is rallying. generally, this risk on tone is there. i'm trying to figure out whether the trade or the adp number has been the biggest catalyst of the action we seen so far. volume is pretty good in europe. cyclicals,ating into banks, rotating out of more defensive names. the pound is trading higher. we've almost completely seen-tripped what we've since boris johnson became prime minister. the real action is what is happening in the bond market right now and treasuries. to -58 -- from 74 from -74 to -58. that is a huge move. vonnie: those talks to begin again, china and the u.s. planning to have face-

this is bloomberg. ♪ nejra: it is 7:15 a.m. in london. this is bloomberg daybreak: europe. let's get the bloomberg business flash. here's annabelle droulers in hong kong. >> thanks. u.s. chipmakers have urged president trump to ease the ban on sales to while away -- huawei . the semiconductor association encourage prompt action for sales but do not implicate national security concerns. he had promised to loosen security after meeting with president xi in june. cloud player has raised $525 million in an ipo. the company which helps websites distribute content priced shares above and already increased target. it is now valued at $4.4 billion. that is your bloomberg business flash. nejra: thank you. meetingseuro group taking place this morning in helsinki. groundadeo is on the with the swedish finance minister. hey, maria. >> good morning. we are indeed in helsinki. ministers are meeting a day after mario draghi announced that buffer package. i'm joined by the swedish finance minister. good morning. cleardraghi made it very that it's time for fiscal stimulus. what are you goin

this is bloomberg. ♪ alix: time now for bloomberg first take. joining me now is our in-house team of wall street veterans and experts, romaine bostick and former cignarella, plus reformed trader. recovering trader. [laughter] alix: i want to talk about stimulus, india stimulus, climate change in germany. vince is like, no, we have to talk brexit. has anything changed in the last 12 hours? algos think so because they popped sterling yesterday after hours. juncker basically repeated what he's been saying before. now we've got hardliners talking, the brexit negotiators. is i the asymmetric risk don't want to own with those guys talking. romaine: not only did you see the huge jump in the pound, but when you look at some of the people diving back into the pool and some individual stock names, some of the retailers and supermarket chains, it shows you there are people willing to make a bet on the u.k. assuming that there is some kind of resolution on brexit, and that is all they are waiting for. if you are a u.k. investor or someone who has an investe

nejra: welcome to "bloomberg daybreak: europe." we are live from bloomberg headquarters in london. matt: today, the market say to dump growth and by value. equity markets continue a mass rotation into previously under loved stocks as a selloff in treasuries ease. futures point higher ahead of the open 30 minutes from now. ♪ anna: china unveils its first list of u.s. goods that won't be hit by extra tariffs. corn, soybeans, and pork are still on the list. morgan stanley's ceo warns against the fed it cutting too easily and gives bloomberg his take on where rates sit now. >> i'm very surprised. the tenureexpected to be around 3%. apple unveils an aggressively priced set of new phones and tariffs but the video service steals the show. good morning. matt: good morning. less than a half-hour away from the start of trading. looking for moves with those apple suppliers. and let's take a look at equity index futures. we are seeing u.s. equity index futures rising. right now, you see gains in dax futures of more than half a percent and gains over in paris of about .25% and ftse futures up

this is bloomberg. ♪ ritika: this is "bloomberg daybreak." coming up in the next hour, inn co-founder -- equities in -- equityzen co-founder. results, thed company's main rivals including out of a and facebook. samsung's redesigned galaxy fold phone will go on sale in south korea tomorrow after a delay caused by the discovery of a severe defect in the screen. it is an android device that opens like a book. it costs almost $2000. i'm riddick a group to. that is your -- i'm riddick a kubot -- i'm ritika gupta. that's your bloomberg business flash. alix: today it is all about reshuffling and departures. a cfo to steer the bank through some tough times. you get a sweeping ubs promoting two heads to lead its steelmaking unit. reports that a handful of partners may be looking to leave the firm by the end of the year. joining me is bloomberg's sonali basak and vincent cignarella. this has the overarching theme of banks changing it up. why? what is the theory behind it? sonali: there's different things happening at every bank. danske bank is reeling

on bloomberg television. oaktree capital founder howard marks had plenty to say about distressed debt. his hedge fund has been scooping up nonperforming loans in china as dozens of companies struggle. -- struggle to repay what they've borrowed. mark spoke exclusively to bloomberg's lisa abramowicz. mark: everything is risky if you can't figure out what you're doing and you are paying too much. the other thing is when there is too much demand, you can't get great bargains, and if you succumb and participate and pay too much, it is risky. lisa: let's talk about where we are. do you expect to see another 2008-type opportunity, which is one of the years i imagine you're talking about, in the next couple years? mark: i don't think we are in a bubble. i don't think we are going into a bubble comparable to 2008. there's no reason to think we will have the panic in the 4th quarter of following the bankruptcy of lehman brothers, another global financial crisis. but there has been a great deal of debt issued. there has

this is bloomberg. ♪ alix: this is "bloomberg daybreak." to me, the big story is the complacency we are seeing in the market. if you take a look at equity futures, they are down 0.1%. italian equities the worst off and europe, down 0.4%. that is idiosyncratic. if you look at btp's, you will see why. former prime minister matteo renzi broke away from the democratic party, so there is more upheaval. you are seeing selling in btp's. yields moving five basis points higher. the lack of reaction in the -- in the pierre-hugues -- in the crude market. harsh words from the supreme leader in iran and from the u.s., and complacency in the market is what many are looking at this morning. the fomc will begin its two-day policy meeting today. the market expects a 25 basis point rate cut tomorrow, looking for clues on future policy easing and keeping a close eye on that dot plot. still with me from boston is emily rowland of john hancock investment management. give me or call for tomorrow. emily: i think markets are widely expecting that 25 basis point cu

this is bloomberg. david? david: speaker pelosi may have made the impeachment investigation "official" and the acting director of national intelligence may have testified about the whistleblower complaint, but president trump still calls the conversation he had "perfect." tweeting if that phone call is not considered appropriate, the no president can ever speak to another foreign leader. to talk about just how perfect the call was, we talked to michael moore, who served as u.s. attorney for the middle district of georgia. he comes to us from atlanta. i thought rather than get in speculation, we should talk about the law and what laws might or might not apply based on what we have seen from the transcript. michael: you have to recognize that it is an unusual position to be and to have the president of the united states seek foreign help to investigate a political enemy. you could be talking about things like a conspiracy charge, you could be talking about of bribery charge, national security implications

michael bloomberg, founder and majority owner of bloomberg news parent bloomberg lp, has given money in support of a ban on flavored e-cigarettes and tobacco. senator lindsey graham says he does not expect president trump plus foreign policy to change with the departure of john bolton. the south carolina republican is a member of the senate foreign relations committee. he says the president has a good foreign team around him. afghanistan, the taliban. honored guest inside of afghanistan. ignored whatistory was going on in afghanistan. we had no troops, not an embassy. we might do a peace deal with the tele-man, but they are not there yet. says a democratic senator bolton's firing was part of a familiar pattern with the trump white house. exampleis just another of the president getting rid of anybody who does not agree with him. i clearly did not agree with bolton's hawkish positions, but -- mark: president trump told reporters today that bolton was not getting along with other members of his administration. somber ceremonies are being held to remark the -- to mark the 18th anniversar

nejra: this is bloomberg. ♪ nejra: this is "bloomberg best." i am nejra cehic. let's continue our global tour of the week's top business stories in china, were the -- where the latest trade data puts more pressure on the government to increase stimulus. >> bonds reacting to the bad data we had, in part of trade numbers from china, shrinking last month. shipments to the u.s. plunging amidst the escalating trade war. exports fell 1%. imports slumping 5.6%, almost $35 billion. >> you are looking at contraption and exports iran year. down 1%. the forecast had been you would see growth in august. exports of 2.2%. the bad news from the manufacturing sector is you have additional tariffs on the pipeline. you look at china's major trading partners, and the pmi data suggests it is in contraption and external demand will continue to remain weak. the pressure remains. >> china removing one more hurdle for foreign investment into capital markets, scrapping the current $300 billion cap on overseas purchases of stocks and bonds. what's the significance? >> it is significant i

this is bloomberg. ♪ >> you are watching "bloomberg surveillance." pg&e cutting power to more than 27,000 customers in northern california. the company says the move is to stop electrical equipment from sparking wildfires during the current dry and windy weather. the outage could impact as many as 120,000 customers. a $4.6d martin has won billion contract to build six or ryan spacecraft to carry astronauts to the moon. the first spacecraft from the deal is designed to be ready in 2024, the year asset has targeted for returning astronauts to the moon. gohsn havecarlos been fined by the fcc. deutsche bank's top investors are directly approaching candidates about the coming chairman. runs outs patience with the current chair. no comments from deutsche's or qatar. francine: german business confidence is falling to its lowest level in almost seven years. negative readings are due to something about the current situation, meaning in this case that the downturn is likely to continue. we have a slight uptick today. francine: let's get back to enter sheets an

we are joined by our bloomberg and rbn them bloomberg audiences. -- and are pnm bloomberg audiences. saudi aramco says it could take weeks to get the oil supply back online. i ran supreme leader says it will not negotiate with the u.s.. -- canada heads into the general election. accelerating artificial intelligence. we will talk to andrew feldman, systems.f cerebras shery: let's get a quick check of our major averages. we are seeing u.s. stocks drifting with the s&p 500 not doing much, 2997. we are seeing consumer shares rallying. thanks dragging -- banks dragging the index. a lot to contend with when it comes to the news headlines, including oil plunging after the .urge we saw our earlier not to mention we are expecting u.s. and china talks in the next week. the dow falling for a second consecutive session. we have seen emerging stocks starting to decline for the first time in five sessions. stocksseeing emerging coming off their longest winning run since january of 2018. this as we continue to see the risk sentiment and uncertainty heading into the fed rate decision. not to mention

this is bloomberg. ♪ anna: this is "bloomberg markets the european open." six minutes to go until the start of the cash equity trading day. let's get your stocks to watch. annmarie hordern is looking at so lander. let's come to you first. the actions of one of their shareholders. what's the story? >> we are seeing shares dropped from 6%, so expect that stock to open in the red. one of its institutional shareholders has sold about 13 million shares, and now that reduces their stake by more than 16%. we are seeing the share selloff ahead of the open, so it's going to be a big one to watch. anna: give us the latest on sirius minerals. the reasons behind corporate decisions around financing. >> that is right, so sirius minerals announced it canceled $500 million bonds after it first suspended a critical part of its financing plan last month. it will adjust the scope of the construction of a mind it is building in england. shares fell 29 august. today they are called down as much as 50%. joining us. for get all the latest stock stories from our equity seen by go

this is bloomberg. ♪ daybreaks is bloomberg europe. i am matt miller in berlin. nejra: and i am narrative edge in london. tension returns to global markets this week. slots and profile poor performances, how will these companies fared. dani burger has the details. is set to price monday, today come in hong kong seeking to raise as much as $4.8 billion. 2019econd biggest ipo of but even so, this is roughly r targeted.he brewe china shanghai makes its public debut. it raised about $410 million when it priced last week. this will really test investor sentiment since it is the first listing in hong kong since july. and a german software company is set to be one of the biggest in europe this year and expected to raise between 1.4 billion euros and 2.3 billion euros listing this week. peloton ise -- and expected to price on wednesday. already there is skepticism on wall street. on this. are mixed speaking of skepticism, we have to talk about wework. listing plans have been derailed. we have a lot of doubts about valuations and governance. it looks like it will be postp

this is bloomberg. ♪ ♪ this is bloomberg "surveillance." for the first time, a woman wellhead one of the biggest banks in the u.k. she is currently deputy ceo. she will replace ross mcewan who has been ceo for six years. he announced he would be leaving rbs. preparing for talks with kaiser to ease its debt burden. that would give the ceo marbury room. bondholders have been pushing the country a -- for a swapper. india cutting data on domestic businesses for one of the lowest rate in asia to provide a $20 billion boost to an economy whose growth has fallen to a six-year low. the investment rate will be a little more than 25%. tom: greatly appreciated. it has been an extraordinary week, the linkage of the equity market and the repo debate. right now, let's listen to a set of central bankers. down, ae economy turns more extensive sequence of rate cuts could be appropriate. >> from india's point of view, any cut in interest rates would mean greater flows into emerging markets. towe have more space normalize as soon as possible, from the 1.75. >

this is bloomberg. ♪ ♪ lisa: this is "bloomberg daybreak." bain capital preparing a fresh bid for german lighting maker osram licht. carlisle will not be part of the new deal. debate is expected to come in higher than the rival ams offer. saudi aramco getting closer to kicking off its huge initial public offering. bloomberg has learned the oil giant will announce its plan next month, and could be listed on the saudi exchange as soon as november. aramco is continuing to recover from the biggest attacks in its history, and say production is back above 11 million barrels a day. toaiming for a valuation up $1 trillion. u.k. prime minister boris johnson flying back into a huge political storm today. the u.k. parliament returning to work after the supreme court ruled johnson broke the law by suspending it. joining us with more from westminster is anna edwards, coanchor of "bloomberg markets: european open." how will prime minister boris johnson respond to this verdict? anna: good to see you, lisa. we had a little bit of response from him already, a

this is bloomberg. anna? anna: thanks very much. the ipo of ab inbev of his back inventive -- inbev is back on. let's get the latest from hong kong with our ipo. good to speak you on this subject. what do we know about the deal so far? >> the company is looking to raise 5 billion u.s. dollars instead of 10 billion. this move comes after the company sold its australian operations to a sake -- to a sahi. i would say it is a boost for the market in hong kong. the market has been subdued for a while after the u.s. trade war put its impact on the market and ongoing protests against government. investors and the market has been really excited about a deal coming through. anna: what has changed? this was a deal that was expected now seems to be coming off the shelf and back to the market. what has changed in the last few months? >> actually, we have heard the sponsor on the deal and there might be some changes for the ipo. in terms of the general market in hong kong, the protests here have been toned down a bit after the withdrawal of the

this is bloomberg. ♪ david: david: from bloomberg world headquarters in new york, i'm david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, therese rafael from london on today's spectacle of the british parliament. michael mckee on the effects of the u.s. china trade dispute on manufacturing, and from boston, brian stolen on hurricane dorian. therese, i watched some of what was going on in parliament. have they done anything yet? therese: they have not voted yet, but this is a historic 72 hours. parliament will be voting in a few hours on a piece of legislation that would force boris johnson to delay britain's october 31 exit day rather than exit without a deal. int is expected to pass and response to that, boris johnson is expected to try to trigger an early general election. the date that has been mooted

this is "bloomberg markets: european open." -- this is "bloomberg daybreak: europe. president trump lashes out as a 'sistleblower complaint testimony -- inflation overhaul. richard clara suggests the central bank is seriously considering a shift in its approach to inflation. ipo slump. peloton becomes the latest major debut to fall on his face. hours later, endeavor pulls its offering. ♪ welcome to daybreak europe. we definitely saw some risk off yesterday with investors trying to come to grips with the implications. futures turning positive in the u.s. but also in europe. yesterday, we saw some positives in european equities anyway. taking a look at the bond markets, we saw treasury yields tumble along with u.s. equities yesterday. the 10 year treasury yield steadying up a bit and we push up slightly above 170 today. not a lot of action in btp and bonds and the futures at the moment. for now, let's check in on the markets in asia. juliette saly in singapore has more. good to see you. looks like the weakness still continuing in asia despite the tick up we have seen

this is bloomberg. ♪ alix: this is "bloomberg daybreak." quick market check for you as you look at s&p futures. still holding onto any higher level for you. european stocks moving a little bit off their shine as automakers in europe hold onto there's, despite the fact that you have chinese car sales falling for a second month in a row. ev sales dropping off a cliff. in other asset classes, still a weaker dollar story evolving here. cable the outperform her. euro-dollar continues to go nowhere as we wind up waiting for ecb on thursday. you are seeing a little bit of selling in the bond market. yields moving moderately higher. spread 2.86% here. crude prices also getting a bump about 0.5%. part of that is the new saudi oil minister. they say steady as they go in terms of oil policy, but that means to me more cutting for longer. you get one million barrels of oil a day cut needed to sustain $60 oil prices. out what isint happening and the lira. president erdogan in turkey says they will have lower interest rates in single digits soon. that's w

this is "bloomberg markets." guy: in brent, we are seeing a significant decline in the price of crude, down by over 6% now. saudi mayrfaced that get the facilities damaged by attacks over the weekend on stream than many were anticipating. is certainly moving. stocks are not. a reasonably quiet bond market today. equities feel like they are in very much pre-fed range. that is probably going to be the dominant theme over the next 24, 48 hours as we await that decision out of the fed. vonnie: here in the u.s., we are seeing the s&p 500 just a little bit lower, but no major moves. down a point. plenty of stocks moving, though. the three-month yield at 1.9 and percent. talking earlier on nash at 1.99%. -- at 1.99%. the fedearlier on about injecting some liquidity and trying to settle the market. we will wait for announcements out of the fomc meeting tomorrow. at the moment, we are seeing the three-month yield rise. that could be because the market solve thiso indigestion we are seeing in short-term markets. newmont mi

this is bloomberg. ♪ nejra: this is bloomberg dave eric europe. -- bloomberg "daybreak: europe". matt: joining us now from mumbai , india and stocks are still high.g around a two month today's session looks muted. are the gains finally set to ?tall yucca -- to stall whereer the last two days the benchmark index gained index to 9% and the bank gained closely to 50%, we would expect consolidations after such heavy moves. the indexes lost ground on the nifty 50 but we still close at 11,500 which is a support level. this is the expert he week for the series of september so you're going to be closely watching for volatility which is likely to peak as well. aside from that the banks have lost quite heavily in today's session at 1.5%. also have seen 50% gains of the last two days. close out on defense is well-paid i.t. stocks, farmers stocks which did not contribute today's session are doing ok. and danny, the rest of asia, growth data, and speeches. >> we are seeing china being the biggest gain when it comes to asian equity markets. if you look at your gmm screen it is up .6% which is

this is bloomberg. ♪ ♪ is "bloomberg surveillance." let's get the bloomberg business flash. softbank is in talks on whether to increase its pledge of investment in we work, according to the financial times. the original value was for $1.5 billion, but the paper reports it is looking at whether to provide an additional billion dollars. this comes as we work is likely to postpone its ipo until next year with the chief executive stepping down. at ericsson expects to pay $1 billion to resolve a u.s. probe. the investigation was into breaches of business ethics in six countries, including in china. ericsson has cooperated since 2013. it is one of the costliest corruption cases on record. raised over $1.1 billion in its ipo. the fitness company pricing shares at $29 a piece and the top of its targeted range. aboutmpany is valued at $1.8 billion. the firm is expected to repay $1 billion profit -- reap a $1 billion investment -- profit off its investment. francine: we are getting some breaking news of the chief executive of deutsche bank. he is speaking at a conference right now in

this is bloomberg. ♪ viviana: this is "bloomberg daybreak." coming up in the next hour, kathryn rooney vera, bulltick head of research and strategy. now to your bloomberg business flash. wells fargo has a new chief. charles w scharf becomes ceo and president on october 21. he will be tasked in leading the the accountfter scandal and the sacking of the ceo. previously, he led bank of new york mellon and visa. commerzbank giving up its goal for growth this year. cfo stephen engle saying the bank strategy is soberly realistic. shares of tesla climbing the most since june after ceo elon musk says things are looking up. in an email to employees, musk says the electric carmaker has a chance to top the vehicle delivery record it set in second q, on track to reach about 110,000. for the second quarter, tesla reported more than 9000 deliveries. the lower margin model three sedan revving up demand. i'm viviana hurtado. that is your bloomberg business flash. alix: thank you so much. but did they get that approved by the person that is supposed to approve

this is bloomberg. live pictures from mnuchin and, steve ben carson both will be testifying to the senate taking committee on housing reform. you can see sherrod brown. don't forget you can follow and weroceedings live, will bring you highlights. this is bloomberg. >> all to funnel more money to the same wall street system. ♪ vonnie: live from new york i'm , vonnie quinn. guy: in london, i'm guy johnson. this is "bloomberg markets." here are the details. red, s&parkets in the down, and the nasdaq down by tose to .1, so we are close 1% there, excuse me. reading a fair amount by rotation, out of growth and into value. down,t the stocks, 600 down by some point two percent. we are awaiting the meetings this week, the fed later of course in those meetings also impacting what we may be seeing in the ponds markets. we got the u.s. 10 year yields unchanged. germany we are seeing yields rise. this is impacting gold. , justl back below 1500 above that, but we were also seeing a couple of notes saying we could s

juliette: this is bloomberg. ♪ ♪ juliette: this is "bloomberg best." i am juliette saly. let's continue our global tour of the week's top business stories. while the u.s. and china prepare for their next round of negotiations, the most recent data from beijing continues to show the trade dispute is taking its toll. >> the data from china shows more weakness in the economy. industrial output on the way up. 4.4% last month from a year ago, way below estimates of 5.2% gain. etail sales also missing, and expansion of 7.5%. >> it was quite a weak across the board. industrial output, the worst reading since 2002. confirming a lot of it is due to a slump in the car market, there is a feeling consumers are starting to crack, that is a key pillar of china's economy. we saw the private sector, lagging government spending. it sets up the economy for a slow into the year and puts pressure on the government. >> president trump says the u.s. and japan have reached an initial trade accord which will be finalized in the coming weeks. the president also told congress the government will b

taylor: this is bloomberg. ♪ taylor: this is "bloomberg best." i am taylor riggs. let's continue our global tour of the top business stories with more from the g7 summit. discussion about iran was the top of the agenda. but there was an unexpected twist when a top iranian official came at the invitation of french president emmanuel macron. >> iran's foreign minister visited france for six hours. bilateral talks near the g7 summit. zarif had a brief sit down with the french president emmanuel macron. officials said they gave the u.s. delegation a heads up about the surprise arrival. but macron did face allegations he blindsided some of his allies. >> president rouhani said he was prepared to meet any political leader in the interest of his country. pres. trump: if the circumstances were correct, were right, i would certainly agree with that. >> a completely different donald trump we just heard, actually making big news in iran and china. he was asked if he would consider meeting with rouhani, and he said he would. he also appeared to suggest he would be in favor of

this is bloomberg. ♪ matt: this is bloomberg "daybreak: europe." i'm matt miller in berlin. interview,xclusive we talked about the revised share sale. >> our business in asia is amazing business. in china, we are number three in volume but number one in profitability by a wide margin. the ipo is to establish and create the local champion that could be the equal for the consolidation and other things it can do in southeast asia. that is in the process. shares will start trading day the 30th. so we are very happy to be where we are. >> is it a playbook you might use in other places around the world like africa? or is it a different sort of thing? >> it's a mirror of what we have in latin america for many years. it was an amazing vehicle to get to deal with local families from different countries and expand within the region. we think that same magic could happen now in asia. >> new think part of the reason is to pay down some debt, how far along are you in that process and pot are some other moves you might consider to keep on that track? for the iporeason was to create the lo

if you like bloomberg news to -- if you like bloomberg news, check us out on the radio, the app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ taylor: it seems the hits keep coming for wework. thursday, the chief product officer is set to depart the company. this comes days after the cofounder said he would step down in order to salvage that ipo. the company has seen a rash of departures of other executives as well in recent weeks, then this comes amid a dash for cash. wework is in talks with goldman sachs and jp morgan about a new $3 billion loan. but there is a catch. it would still mean returning to its biggest investor, softbank. joining us is dan morgan and ellen hewitt, who has been tirelessly covering we work. walk me through this new loan. $3 billion. who gets that new money? ellen: that will come likely from a consortium of banks, and is contingent on equity from a different funder, most likely softbank. the whole thing is this plan that is really being developed as we speak, because there have been so many changes for the company in the last four days. the ceo h

this is "bloomberg markets." vonnie: a lot going on this week, including the ecb onrsday, continued talks china, and of course, brexit. plenty of stocks doing well, including the chipmakers. at&t up 4.4% now. elliott with a position coming out strongly, which at&t says it is receiving favorably. the 10 year yield at 1.60% right now. -- 1.62% right now. guy: german yields are on the move today. bond prices are coming down. equities are coming down as well. banks in europe are having a pretty solid day as well. the frank for motor show is underway. the pound catching a little bit of a bid today. basically, what is happening in the stock market, we've got like volume. we are seeing a rotation. banks and autos doing well. the cyclicals are doing well. defensive bond proxy type names not doing so well today. vonnie: we have a treat now because we are sticking with markets and the economy. investors ought to be keeping a close eye on a series of moves from world central banks as recession concerns in the u.s. grow. lot

this is bloomberg. david? democratic those presidential candidates take the stage in euston, regulation -- in houston, regulation of wall street is certain to be on the agenda. thatroposal in congress elizabeth warren bernie sanders, and andrew yang have back is to propose a financial transaction tax good we welcome kiersten goodr, modern markets ceo we will put up one of the -- ceo. we will put up one of the proposals. bernie sanders has attacks at one rate on equities, a lower one on bonds, a third lower on derivatives. what would be the effect of this as a practical matter in the marketplace? kirsten: the key impact is this would have a devastating impact on main street investors saving for retirement. our report has two takeaways good first, this would increase the cost of trading. this would widen spreads, meeting investors will not get the best price for their investment. the second take away to keep in mind is this would be a retirement tax. this would affect anyone investing for a pension fund through

this is "bloomberg markets." a bit of breaking news. the president of the united states just announcing that the united states has sanctioned the iran national bank. the president indicating this the cut off funding for iranian revolutionary guard, basically the armed forces. he says these are the highest sanctions ever imposed, but i think the critical thing to take away from this is that we are still going down the sanctions route rather than going down a military route at this point. we are waiting to get a sense of guidance from the saudis as to which direction they want to take things in. attack a huge blow, this on the facility we saw a little earlier on with yousef gamal el-din. still with us is michael spence, nyu stern school professor of economics, general atlantic senior advisor, and nobel laureate, of course. in terms of what will happen to the global economy if we get elevated oil prices, what is the sense -- what is your sense? tothe world is exposed receive an oil shock? michael: absolutely. it would take a pretty big one

this is bloomberg. ♪ bloomberg. ♪ francine: this is "bloomberg surveillance." i'm outside parliament in london and tom keene is in new york. tom keene is joining the protest on both sides because we are neutral on bloomberg. let's get back to howard davies from rbs. we were talking negative rates, but overall, what is the one thing [indiscernible] something in there the way that we measure the economy that we should be looking at differently and that would also [indiscernible] howard: i think we need a clear fiscal policy because we had fiscal policy under philip borrowingd the rulon and bringing the deficit down, -- rule on borrowing and bringing the deficit down, and everyone knows that is no longer operative. what we haven't got is anything to take its place. we have government pronouncements about how they are going to recruit policemen and spent $4 billion on schools, but none of that, from a market into view is very helpful unless you know what the overall fiscal framework as. the markets are ready to accept some fiscal expansion, particularly when the ec

this is bloomberg. ♪ this is bloomberg. ♪ nejra: this is "bloomberg surveillance." i am nejra cehic in london. let's get to the bloomberg business flash. here is viviana hurtado in new york. viviana: the dramatic turnaround is widening. authorities are probing current and former executives for alleged attacks avoidance -- a legend tax avoidance. axe luxury brand -- alleged t avoidance to the luxury brand gucci from 2017. totander taking a hit operations, challenging the regulatory environment. the eurozone's biggest bank says it will not affect the lender's ratio. the uk's santander's fourth-largest unit. it has struggled a mixed competition -- amidst competition and geopolitical uncertainty. and that is your bloomberg business flash. nejra? nejra: thank you, viviana. following the attack on a processing plant 11 days ago, we have more from [indiscernible] -- from bloomberg's annmarie hordern. annmarie: we are ahead of schedule about a week. they had a scheduled deadline of getting to 11,000 barrels a day by the end of september. we're hearing they are at 11 ,300. p