hey, paul. paul: so we've got the main documents now in public, the transcript, the whistleblower complaint, the office a of legal counsel opinion on how that should have been han handled. do you see as a first look at this any violations of law? >> i really don't. i mean, i think you've got a phone call that to the extent that we're happy with the transcript that's created, it's a phone call that's probably not a perfect call as the president would statement i kind of wish he would stay away from some of the things he said. but i don't see a quid pro quo. i don't see an obvious link to what's called a thing of value. i don't think it's a likely criminal violation and certainly not a willful criminal violation of campaign finance laws in that call itself. but again, that said, i kind of wish he had let other people do the talking when it comes to what he was hoping for ukraine to look into. paul: is your judgment maybe it was a mistake in judgment, maybe it was undisciplined but it is not a crim

paul: any? >> what they're talking about is carbon free electricity, totally, 100% by 2030, having the united states be completely carbon free by 2050 or maybe 2045, how are we going to do that? we're going to spend $2 trillion or $5 trillion or $16 trillion in bernie sanders' case, we're going to restructure the economy, get totally off fossil fuels, weatherize every building in the country. paul: when they say ban fracking, that basically means banning the drilling method that is currently most used to get natural gas and oil out of american sites, anyway. >> right it depends on who you ask. some say ban fracking totally, some say ban it on public lands. paul: how many want to ban it totally? >> most of them want to do that. amy klobuchar said she will look at it case by case. the contradiction is they're talking about climate change as if it's an existential there. they're talking about it in terms of mobilization to world war ii. that seems to demand some solutions like natural gas which is

paul works with roberto. >> which is how parisi presented paul to the jury. of course if you know paul had a deeply troubled history with the law. violent sexual offense in his background. but the jury didn't get to hear about that. nor were they told about the dna. quite possibly paul. that was found on the envelope containing the bomb diagram. excluded. would the jury see the same paul moore prosecutors saw? >> he is almost like a marvel comic book arch villain. he's bright, clever, evil as can be and he has a flaw. his flaw is his arrogance. >> the jury retired. to think about it. they were not fooled. after just five hours of deliberation they walked back into the courtroom and declared paul moore guilty of murder. the judge sentenced him to lif >> i remember driving away from the courtroom and my wife and i were together and we'd start crying because we knew it was over. job. i told everything i knew. and it wasn't easy because i basically put away somebody who i loved. >> pete is not so blind that he doesn't see how he was used by his boyhood playmate t

paul: not really. no. lemonis: how come, paul? paul: all the tension and stress of locations and closing, and that all fell apart. lemonis: it didn't fall apart on my end. my money got spent. i haven't gotten one license fee of any kind, not a penny, not a nickel, not a dime. paul: we're trying to hold this together. lemonis: what do you want me to do? i need you to give me some direction. paul: work with craig on a temporary lease agreement. lemonis: you want me to work a deal out with the landlord so it lets parlour off the hook? yes or no? paul: yeah. lemonis: great. no. paul: what you brought up a couple of days ago was not true. i didn't have the proof. and you do this to me time and time again. mike: paul, i'm not going to go back 6 months and try to remember. i don't know. paul: that's a lie. so, every day, we put our latest technology and unrivaled network to work. the united states postal service makes more e-commerce deliveries to homes than anyone else in the country. e-commerce deliveries to homes liberty mutual custom

paul: welcome to the journal editorial report. i'm paul gigot. a showdown in techs as this week as 10 of the democratic presidential candidates took to the stage in houston in the first debate pitting joe biden against both of his closest rivals, bernie sanders and elizabeth warren. the issue of health care was front and center thursday night as the candidates squared off over their plans and thousand pay for them -- how to pay for them. >> how are we going to pay for it? i want to hear tonight how that's happening. so far my distinguished friend, the senator on my left, has not indicated how she pays for it and the senator has come forward and said how he's going to pay for it but it gets him halfway there. >> every study done shows medicare for all is the most cost effective approach to providing health care to every man, woman and child in this country. i, who wrote the damn bill, if i may say so, intend to eliminate all out-of-pocket expenses. >> while bernie wrote the bill, i read the bill. and on page eight -- on page eight of the bill it s

paul: welcome to daybreak australia. i'm paul allen. shery: i'm shery ahn. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering the next hour. the impeachment inquiry widens. rudy giuliani's order to hand over all communications with ukrainian officials. the reserve bank of australia meets later with most economists predicting the rates will be cut to a new low. years as the0 people's republic and communist party rule. we are live from beijing and hong kong. shery: let's get you quick started on how the markets are trading. u.s. futures gaining one quarter of a percent, this coming off the back of gains we saw on this u.s. session with the s&p 500 gaining .5%. the s&p 500 gaining ground for the third quarter in a row, managing to rebound in the month of september after the losses we saw in august. when it comes to today's session, we saw every sector in the green except for financials and energy. we have 10 year yields paring back some of the earlier gains to train around 1.67%. wti fell below $55 a barrel. tec

paul: welcome to "the journal editorial report." i'm paul gigot. the stage is he set for the third democratic presidential debate with just 10 candidates qualifying for a september showdown. joe biden will finally go head to head with both of his closest challengers, bernie sanders and elizabeth warren. the former vice president putting health care back in the spotlight ahead of the septemben ad this week highlighting his continued support for obamacare and taking a swipe at his more progressive rivals who are pushing for a single payer system like medicare for all. >> the fact of the matter is, health care is personal to me. obamacare is personal to me. when i see the president try to tear it down and others propose to replace it and start over, that's personal to me too. we've got to build on what we did because every american he deserves affordable health care. paul: let's bring in kim strassel, kate o'dell and jason riley. so kate, what do you make of the biden ads? smart politics? >> i think it is smart politics because, look, he's trying to d

timothy paul gilbert paul stuart gilbey paul john gill mark y. gilles evan gillette robin lawrence gilligan. rodney c. gillis laura gilly john f. ginley donna marie giordano jeffrey john giordano john giordano steven a. giorgetti martin giovinazzo kum-kum girolamo salvatore gitto cynthia giugliano mon gjonbalaj dianne gladstone keith alexander glascoe thomas irwin glasser edmund glazer harry glenn barry h. glick jeremy logan glick. steven glick john t. gnazzo william robert godshalk michael gogliormella brian f. goldberg jeffrey grant goldflam michelle goldstein monica goldstein steven goldstein >> ronald f.golinski. andrew h. golkin dennis james gomes enrique antonio gomez jose bienvenido gomez wilder alfredo gomez manuel gomez jr. >> and my sister, whose leadership insureded the safety of many, but was lost when she went to find a missing co-worker. you'll always be my hero. >> and my mother, francis, good morning brothers and sisters in good faith. listen. some people did something. i am here today to honor my 76-year-old mother francis on the

paul: welcome to "daybreak australia." ophie: we are counting down to asia's major market opens. ♪ paul: here are the top stories we are covering in the next hour. three and out -- boris johnson's ailed bid to trigger snap election. hong kong protesters returned to the streets and vowed to continue their calls for universal suffrage. they said carrie lam's retreat was too little too late. shery: we have coverage throughout daybreak of these developing political stories. sebastian is following the brexit saga in london and what is next for boris johnson's plan to leave the u.k. out of the eu following defeat in parliament. first, let's get you started with a quick check of how markets closed the wednesday session in the u.s. it was all about geopolitics. less risk in hong kong and the u.k.. nasdaq bothand gaining. tech shares rebounded leading gains. they were the biggest losers in yesterday's session. energy sectorhe being a big gainer as crude prices rallied above $56 a barrel. fed speak asof well today. the fed preside

paul? paul: thanks. federal prosecutors in california are reported to be conducted a criminal probe into e-cigarette maker juul. the dow jones says it is another major step back for the company whose sales were halted in china. alan huet covers this. give us some context. >> this is just one new development in a series of regulatory step asked and challenges that have been facing francisco, in san a major e-cigarette maker. they have faced regulation, scrutiny and probes from the ftc, the fda, cdc. there has been a lot of discussion about vaping related illnesses and deaths that you may have seen in the headlines. and investigations from state attorneys general and now this probe from the u.s. attorney's office in northern california is just the latest. this is something of a growing snowball of regulation that is facing this company. granted some of the concerns of vaping related illnesses are not specific to juul, but we are seeing that as one of the biggest makers of the increasingly popular devices.

paul: welcome to "daybreak australia. i'm paul allen and sydney. shery: we are counting down to asia's major market open. -- i'm paul allen in sydney. shery: i'm shery ahn in new york. we are counting down to asia's major market opens. paul: trade talks resume in washington, paving the way for high-level discussions next month. some reports say and interim deal will be struck. the oecd has a new warning about global growth and says rising protectionism is a drag anchor and governments are not doing enough. and more signs of stress. the fed will add liquidity to a vital corner of funding markets for a fourth straight day on friday. later, huawei unveils an android powered smartphone without any google apps on the device. how the u.s. ban is holding back the techtarget. first, we are seeing u.s. futures at the moment unchanged after u.s. stocks ended mixed on this thursday. we have seen stocks gained ground after positive comments on trade coming from the white house economic advisor, larry kudlow, but then those stocks pared back earlier gains after

i'm paul bigot. -- i'm paul gigot, we hope to see you all here next week. mike: fox news alert, as number of victims killed during yesterday's shooting in west texas rises, authorities now saying at least 7 people are dead and 22 injured after a gunman went on a rampage from midland to odessa. hello, i'm mike emmanuel, welcome to a brand new hour inside of america's news headquarters. laura: and i'm laura ingle. the gunman opened fire on police after being stopped for a traffic violation, he then hijacked a u.s. postal vehicle and fired randomly at people, eventually being killed in a shootout with police. president trump today praising the actions of law enforcement. >> they've been incredible. first responders, law

paul: i am paul allen in sydney. strengthens and the yen slips as trade talks have been constructive. let's look a new week of trading. thank you for joining us. we are seeing equity markets sort of searching for direction. what is going to be the catalyst? is it news on the trade front or something else? the catalyst -- >> the catalyst could be headlines on the trade front but the backdrop is unchanged bridges the cyclical slowdown in global industrial growth and is manifesting in china in one way, in the u.s. also now in a similar way with industrial downturns you are seeing showing up in the data. i think each country kind of knows it is happening in the backdrop. the headlines can kind of i guess edge you along and the markets. they seem salient, but i don't think they change the underlying trend quickly. of the cyclical global slowdown, the pillar of strength this continues to be the u.s. consumer but can you see risks -- i am thinking only in terms of trade but the manufacturing slow down. you mentioned it is a

paul? paul: thanks. still to come on the next hour of "daybreak: asia" china is the second largest market for diamonds in the world. demand is slowing is economic uncertainty picks up. the ceo of the diamond producers association. ♪ . i am shery ahn. welcome to "bloomberg daybreak: paul: our top stories this wednesday. the fed stiffens for a second day to keep rates from rising. treasuries rally ahead of expected cuts tomorrow. investors await decisions from japan. we will assess the outlook for share sales in hong kong with a revised ipo from budweiser brewing. let's get a quick check on oil. we had uti under pressure and brent coming down 3/10 of 1%. still above $50 per barrel. wti, below $60 per barrel. saw monday. officials say they have restored 40% of output lost. to take a look at how japan is coming online, we had seen the decay rally for the past weekend. nikkei at the moment slightly higher. remember, this is after 10 consecutive sessions of gains to japanese stocks. the longest since october

paul: welcome to daybreak australia. i'm paul allen. shery: i'm shery ahn. sophie: i'm sophie kamaruddin. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering in the next hour. did he quit or was he fired? confusion around the departure of u.s. national security advisor john bolton. china removes another obstacle to foreign investors. global funds no longer need official approval. speaksstanley's boss exclusively to bloomberg, warning the fed against cutting rates. >> i've supported the latest fed rate cut and i suspect they will do one or two more. but then it is time for a pause. shery: more from that exclusive interview with james gorman ahead. plus in bloomberg technology global link, ap's incremental tweaks to the iphone lineup. we will ask if that is enough to lure buyers. that's get you a quick check of how the markets closed in the u.s. a bit of a rocky session for markets. gains and losses but throughout the session getting a bit of a boost. the dow up three tents of 1%. the s&p 500 unchanged. media re

paul, shery. paul: thanks very much. let's get more on what we should be watching as trading gets underway in asia. adam haigh is with us. it seems like there is an impasse in trade negotiations but some of the market saying maybe it is time to start thinking about betting on getting a trade deal. adam: obviously, the market is taking the view at the moment that negotiations are still stalling somewhat. you have had a continued bid and treasuries at the start of the week. we don't have a huge amount from the u.s. markets overnight. it is looking like a cautious start in asia but there is a view out there by folks at bank of america that president trump going into the 2020 election next year does not want to cause a recession and he will do everything he can and get a negotiation on the table to prevent that. his he is betting on there's a bit of a turnaround on some of these things on the chart. when you get of it of a rebound. it is a bold call it the moment but not one we should probably ignore because the markets posi

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gary paul geidel. paul hamilton geier. julie geis. peter gerrard gelinas. stephen paul keller. howard elling, junior. peter v-victo victor demko. stephen gregory genovese. ast lane gentul. linda george. edward geragfhty. ralph gerhardt. robert gerlich. dennis germain. marina romanovna gertsberg. susan getzendanner. s lawrence getzner. cortez ghee. joseph giaccone. vincent francis giammona. craig neal gibson. ronnie gies. andrew gilbert. and my father, edward who will forever live in our hearts. we miss you and we love you dearly. he will continue to live in your legacy and i will always share my memories with my baby girl. and my father, walter. i miss you every day and i wish i could spend some time with you. thank you. >> timothy paul gilbert. paul stuart gilby. john paul. mark diels. evan hunter gillett. ronald lawrence gilligan. rodney c. gillis. laura gilly. john ginley. donna marie hsia redondo. jeffrey john hsia redondo. john giordano. bartend giovianazzo. the kum kum giorolamo. chieff alexander glascoe. thomas erwin glasser. edmund glazer. terry glenn. barry glick. jere

paul. paul: thanks, sophie. the bicycle fitness startup had a tough start, the fourth worst unicorn boost since 2008. still, ceo john foley tells bloomberg he is upbeat. >> we are playing the long game. we see this as building millions and millions of subscribers around the globe in the coming years. now we have the money to do that. we are fully funded after today's primary, so we are feeling confident. >> when you think about the last couple of days and couple of weeks, you mentioned the markets. wework is on everybody's mind. it is a tricky ipo market to say the least. do you have a sense of where the miscalculation was? >> this is my eighth fundraiser at peloton, and people either see a door they don't. so there is believers and there is nonbelievers. leaved, --that have that have believed and have invested in palo thanh -- in peloton for years now are very happy. >> you mentioned fully funded. what does expansion look like? >> we are building a $50 million television streaming studio here in new york, anoth

paul: welcome to "daybreak australia." i'm paul allen in sydney. shery: i'm shery ahn and bloomberg world headquarters in new york. sophie: and i'm sophie kamaruddin in hong kong. we are counting down to asia's major market opens. ♪ paul: here are the top stories we are covering in the next hour says his callrump was wonderful, but the white house is already trying to lock down the record. trying to hit back on u.s. sanctions, beijing demands the lifting of measures on iranian oil saying washington tramples on basic norms, and from mining to the oceans. in a billionaire tells us his waste andt plastic see the future. and the global semiconductor market is not in the clear yet. how global trade tensions are impacting micron's future, but first, let's get you started with a quick check of how markets close on this thursday session. we had stocks down, treasuries advancing. we started lower in the session, given that whistleblower complaint at the center of the impeachment drama in washington was released and that was not helped by the fact that we

paul: i'm paul allen in sydney. australian shares are said to edge higher at the open bolstered by gains on wall street. possibly checked by pre-rba caution. most economists are betting on a 25 basis point cut from philip lowe and his team. let's discuss that with ig market analyst kyle rotter in melbourne. from the alive meeting rba today. what are your expectations? for: it is going to be hard the rba not to cut today. the market is pricing and 80% chance that that will occur. such is the pricing that if the rba were to fail to deliver on this cut, i don't think the knock on effects in terms of broader financial pricing and what they can do to financial conditions in the short term would be favorable. i think the market has probably gone more aggressive than i would expect it to have in pricing in a kind. last week around this gentle turning point notion should have dampened things. markets, 80% there. like i said, it will be hard for the rba to not cut today given the knock on effects. paul: there was a gentle tu

this is bloomberg. ♪ paul: good morning. i am paul allen in sydney. we are under one hour away from the market open in australia, japan, and south korea. shery: good evening. sophie: i am sophie -- i am shery ahn. sophie: i am sophie kamaruddin. welcome to "daybreak asia." paul: our top stories this thursday, central banks make their headlines. president trump resumes his attack on the fed. the ecb is expected to resume quantitative easing. china releases a list of u.s. products that are exempt from

paul? paul: thank you. just to get you back to london now, and the goings-on in the house of commons. you see the opposition leader jeremy corbyn on his feet now responding to the prime minister, boris johnson, who has of course just lost again in his bid to force an early election. the prime minister saying that parliament will be suspended now until october 14. that he aims to get a brexit deal but he is still prepared to leave without, but will strive to get an agreement in the national interest. and the u.k. government will not delay brexit again. [cough] excuse me. let's return now to randall. randy, i just want to get your reaction to what is going on in the u.k. parliament right now. surely one of the biggest sources of global geopolitical risk there is at the moment. randall: yes, i am keenly focused on that because i recently moved to london for the year because i have a campus there. it has been quite a tumultuous week, with johnson running into this buzzsaw, even within his own party. incredible

paul? paul: thanks. the largest iphone factory in the planet is in the spotlight for all the wrong reasons. confirmedd apple both they violated chinese labor laws. the admission follows a separate report that alleges harsh working conditions. mark gurman wrote this exclusive story and joins us now from san francisco. mark, exactly what has foxconn and apple been accused of? showed china labor watch apple and foxconn were using among 30 at its lowest and 55% of its highest percentage of people and its workforce being temporary or dispatch workers. it means it is a group of people that on a base salary level get paid more but only employed two to three months of the year so they don't get benefits like sick time or vacation days. thi makes -- this makes apple and foxconn money. law shows that it cannot be more than 10%. taylor: what does apple do next? how do they shift that labor? mark: apple is going to have to hire morenn to full-time staff in order to get them closer to the 10% level. the good news is

paul: welcome to daybreak australia. i am paul allen. shery: i'm sherry ahn. sophie: i'm sophie kamaruddin. we are counting down to asia's major market open. ♪ paul: here are the top stories we are covering in the next hour. >> definitively we will let you know but it does look that way. paul: president trump blames iran for the aramco attack. it could be weeks or months before saudi oil production returns to normal. trade talks were set to resume in washington next week. u.s. officials say there is a lot to be done if the two sides are to reach a deal. some of the biggest backers of softbank's vision fund appear to be having second thoughts. we are live in san francisco. shery: let's get you started with a quick check of how wti crude is starting to trade at the moment. we are seeing a little bit of pressure, down 1.7%. still above the $60 a barrel level. this coming up to the biggest gain since february of 2009. 13% jump after those drone attacks on saudi arabia oil facilities. also at a time where we saw a decline last week of 3%. we continue to see this

paul: good morning. i am paul allen in sydney. we are under one hour away from the market open in australia and japan. shery: i am shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: how top stories this friday, optimism returns on speculation of a trade truce. the u.s. may offer an interim agreement but president trump still wants an overall deal. mario draghi overcomes powerful critics. france, germany, and the netherlands have led opposition to his plan. more signs of the trade standoff hurting local players. a gloomy forecast for chips. shery: let's get you started with a quick check up on how markets closed in thursday's session in the u.s. above 3000.closing the s&p 500 .5% away from that record high. we had some stimulus coming from the ecb package that boosted the stock market, but we had bloomberg news reporting the trump administration may be considering that limited trade deal towards china that boosted sentiment. so we have the nasdaq closing again at the highest level since july,

paul: welcome to daybreak australia. i am paul allen. shery: i am shery ahnshery:. we are counting down to asia's major market open. ♪ paul: let's get you straight to some breaking news. president trump saying he will allow release from the strategic petroleum reserve if needed. this is in response to the weekend drone attack on the world's biggest processing station in saudi arabia which will be affecting a crude oil supply. president trump announcing a few moments ago he will allow release from the strategic result -- petroleum reserve to stabilize oil prices. shery: look at brent crude prices, surging above $70 a barrel. we are seeing a surge of 19% at the moment. we have seen brent and wti being pressured in the last week as we continue to see this demand going up, really clear given the ongoing trade war, print has fallen -- rent had fallen last week -- really clear given the ongoing trade war. fallen last week. it is up 19% at the moment. look at brent prices. we have seen huge moves when it came to prices of oil, given the ongoing tensions when it comes to

paul: i am paul in sydney. it was a big day for apple with the launch of new devices at its annual product announcement. a new apple watch, but low-cost ipad, and a bunch of announcements tied to the new services. apple tv plus and apple arcade. as always, most people wanted to see the new iphone. >> this is the iphone 11 pro and these are the most powerful and advanced iphones we have ever built in a stunning, new design. paul: let's head to san francisco and bloomberg technology's mark gurman. what did we learn about the new phones? cook calls it a stunning new design, but that is not true. these phones look similar to last year's models. they change the looks of the cameras on the back. they added a third camera to the a pro and promax, which is mouthful of a name, but functionality wise, very advanced. the thing is, however, i believe, new designs, new major capabilities like 5g, in screen fingers print scanners. that is what sells phones. the question is, how many of these new features will be by theto spu

paul. paul: thanks very much. let's get some more on what we should be watching as trading gets underway in asia. bloomberg cross asset editor joins us. there was some pretty bad manufacturing numbers out of germany overnight. could these concerns about global growth weigh on the open here in asia? >> look, they were particularly bad and they are definitely going to be a focus for the market. they confirm germany's economy is suffering its worst downturn in almost seven years. look, investors knew that the manufacturing sector is in a trench action -- contraction. the numbers are crystallizing the extent that trade tensions are having an impact. germany has its own challenges with the auto industry, but also brexit, which is definitely a concern for the market. we had euro and the european stocks declining. you sound less of an impact on the u.s. market. that is because u.s. manufacturing is still holding up relatively well, so it is concerning that the u.s. economy continues to be the global leader, but look, the

paul: good morning. i am paul allen in sydney. we are under one hour away from the market open in australia, japan, and south korea. shery: good evening. sophie: i am sophie -- i am shery ahn. sophie: i am sophie kamaruddin. welcome to "daybreak asia." paul: our top stories this thursday, central banks make their headlines. president trump resumes his attack on the fed. the ecb is expected to resume quantitative easing. china releases a list of u.s. products that are exempt from tariffs. it is seen as a trade war olive branch. american farmers remain under pressure. bid from thees a hong kong exchange. lawmakers are concerned about potential national security questions. shery: let's get you started with a quick check on how markets closed. we saw the s&p 500 gain ground and close above that 3000 level for the first time in six weeks. we had health care stocks and tech leading the gains. interesting, the nasdaq finishing at the highest level since july, rising for the first time in four sessions. into valuee rotation stocks. they s

paul: good morning. i am paul allen in sydney. we are an hour away from the market open in australian, japan and south korea. from bloomberg will headquarters new york i'm kathleen hays. selina: i am selina wang. in hong kong. welcome to "daybreak: asia" paul: our top stories this monday new factories kick in stock futures fall and the yen gains as a traditional haven. hong kong suffers another weekend of violence. dozens are west it as protesters target the airport and subway network. -- dozens arrested. argentine in christ it again. capital controls try to hold the country on the as the default. reminder on how u.s. stocks ended the session as we begin the trading week in asia. from the dow jones for the s&p to the nasdaq, you have the close and stocks within a range of 0.15%. not much moving ahead of the long weekend in the u.s.. this s&prtly we see futures pair when they opened they were down a percent. they pulled back, maybe a reaction from friday. mostly everything that is happened since friday. on friday, u.s. consumer sen

paul: good morning. i am paul allen in sydney. we are under one hour away from the market open. >> good evening. i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this wednesday, -- >> the actions of the trump presidency revealed the fact of the president's betrayal of his oath of office, betrayal of our national security, and betrayal of the integrity of our elections. trump is facing formal impeachment proceedings with house speaker nancy pelosi saying he has violated his oath of office. president struck a hard line at the united nations with comments about china and iran. investors are weighing another change of tone. boris johnson refuses to quit as u.k.'s top judges attack his suspension of parliament. they say his advice to the queen was unlawful. stock market,he take a look at this board where you can see the major market averages down across the board. it was donald trump speaking at the u.n. and bashing china. news came out that pelosi was ready to say, ok, we are going ahead with impe

paul: how does this affect fedex 's plans? su: it is going to make it challenging because they have announced cost-cutting. they say they will be cutting costs pretty much across the board, but at the same time, they are very much under pressure not only to compete with amazon, but they are walking away from the business they have been doing with amazon, which is about 1.3% of their annual revenue. they are betting their decision not to renew their contracts with the e-commerce giant will allow them to boost profit businessecause that affects below average cost, but they are forced to ramp up their aircraft and delivery service to do that. they are still going ahead in january with their move to a seven day a week delivery service. that is really going to put some pressure on the company in terms of how they will cost cut while expanding. thanks very much for joining us on the fedex story. still to come, investing in .istressed debt find out where howard marks sees opportunity in our exclusive interview just ahead. this is blo

paul: welcome to "daybreak australia." i'm paul allen in sydney. from: i'm shery ahn bloomberg world headquarters in new york. sophie: i'm sophie kamaruddin in hong kong. we are counting down to asia's major market opens. ♪ paul: here are the top stories we are covering in the next hour -- talking trade. president trump switches tony at again, saying a deal with china could happen sooner than anyone thinks. progress, too, on a deal with japan. a limited agreement is signed after washington withdrew the threat of tariffs and a threat of impeachment still hangs over the president. he releases the ukraine transcript. shery: let's get a check of how markets close. as you mentioned, we saw impeachment drama play out in washington. that weighed on markets a little bit, but there was more optimism for potential trade deals, not only with china, but that limited trade deal with japan also boosting market sentiment. we had the s&p 500 gaining .6%, to stop a three-day decline. banks consumer stocks, leading the gains. also tech stocks, nasdaq gaining 1%. t

paul: good morning. i'm paul allen in sydney. we are one hour away from the market open in australia and south korea. shery: good evening from bloomberg's world headquarters in new york, i'm shery ahn. elena: i'm selina wang in beijing. welcome to "daybreak: asia." paul: our top stories this monday, the yuan climbs in the end falls as investors weigh signs of progress in the trade talks. china says negotiations have been construct of. -- constructive. it needs funds to help reduce a crippling total debt of $130 billion. the streets of hong kong, demonstrators clashing with police for a 16th consecutive weekend. shery: let's get you started with a check of the markets. seeing u.s. futures gaining ground, .5%. this after the s&p 500 lost ground on friday. we have seen stocks higher throughout the session. the we got reports that chinese delegation in the u.s. had canceled their visit to u.s. farms. that led markets lower. we had trade sensitive stocks, like consumer stocks and tech, leading the declines. the nasdaq fell the most in

paul: thanks very much. let's check in on the first word news. the u.k. prime minister repeated his bow to leave the european union at the end of october and threatened a snap election if mp's rebel against his plan. lawmakers return on tuesday after their summer break and the labor opposition will present legislation to force johnson to delay a brexit if a deal has not been reached. the u.k. manufacturing slumping to its lowest level since 2012. >> i want everybody to know there are no circumstances in which i will ask brussels to delay. we a re leaving -- are leaving on the 31st of october, no if's or but's. we will not accept any attempt to scrap the referendum. kathleen: hurricane dorian is slowed after killing five people in the bahamas, but still seen as highly dangerous as it moves towards the eastern seaboard of the u.s. the stormtural disaster for two years. ubs raised its total to $40 billion depending on how dorian hits florida. paul: iran is warning it is prepared to step away from the 2015 nucle