Bloomberg, President Trump, United States discussed on Bloomberg Daybreak: Asia
Fair value. And if you don't have tariffs on China. But if you do a terrace on China the question is how high dollar go. And then we're earnings being case last week. President Trump threatened to impose tariffs on almost all Chinese products imported to the United States. Well, China is stepping up the pace of reform in its twelve trillion dollar bond market. We get the story from Bloomberg's Rishaad Salama, pure and simple. China is trying to attract more foreign investment over the past few weeks. Authorities have announced new rules to help the nation's bones gain, entry to major international indices, central Bank is also ease restrictions on credit rating companies and ABC's institutions will be. Exempt from paying certain taxes on interest gains, and they'll be allowed to conduct large traits through the bond trading link. With Hong Kong, the changes will make Chinese bonds attractive to foreigners at a time when the country needs more capital that meant to stabilize the UN and fund corporate borrowers who've been squeezed out to the shadow banking system. I'm Rishaad Salamat, Bloomberg daybreak Asia. Well, a well known Hong Kong company is considering an IPO with a London listing. Bloomberg's Sophie Kamarudin has more. The firm is CK infrastructure holdings. Led by tycoon Victor Li the company owns energy and water utilities globally. We are told CK infrastructure is talking to investment banks and while discussions are ongoing. They may not lead to a deal city infrastructure has built a stable of British assets over the last decade from water and guests to rail transport. The company said Ling CU Hutchinson has infrastructure assets in Estrella, Germany and Canada. So the Bloomberg daybreak Asia. Well, Tesla's battery supplier. In Australia may be forced to delay production. We get that story from Bloomberg's Kathleen Hayes, the problem stems from a legal battle for an Australian mining lithium project, it's jointly owned by Australia's Kidman resources in his Chilean partner s q AM they operate on land leased from the government of West Australia, but the lease is at risk since a court said Kidman should not be exempted from requirements to spend a minimum onsite development to maintain lease rights. If production is delayed the market for lithium could be thrown into deficit in may tesla signed a three year supply contract for Kidman for future production. That means there's time for tesla to find another source, but lithium costs could be higher. Kathleen Hayes, Bloomberg daybreak Asia. We'll Goldman Sachs's named the number two for David Solomon when he becomes the CEO. John Waldron will be the next president and chief operating officer currently runs investment, banking Solomon and Waldron. I work together at Bear Stearns and their rise cements a dramatic shift in power. Away from the once dominant trading division or at six and a half minutes past the hour time for a news update. Gasline explosions in Boston have caused fires impacting forty homes. Doug krizner has global news. From our New York newsroom. Brian these homes are in three communities north of the city. Now FEMA is saying the root cause appears to be lines being over pressurized during system upgraded at least four people have been injured. This investigation is underway. Hurricane Florence's barreling toward the eastern seaboard. It's expected to make landfall in the next twenty four hours over the state of North Carolina. It could bring as much as three feet of rain and now in terms of potential damage. One estimate says the cost to the region's agricultural industry could be as much as a billion dollars. Meantime, the Philippines is bracing for the most powerful typhoon of the year. Forecasters are expecting super typhoon mankote to hit this Saturday sustained winds one hundred sixty five miles per hour. Thousands of people have been ordered. To held for shelter. President Trump's former campaign chair Paul Manafort is reportedly close to a plea deal with federal prosecutors as a way of avoiding a trial scheduled for next week. Now, those charges stem from work Manafort did for pro Russian political forces in Ukraine, the New York Times as saying it's not clear, which charges Manafort might plead guilty to or whether he would cooperate with special counsel Robert Muller's team as it investigates Russian interference into the twenty sixteen election, along with possible collusion with the Trump campaign and obstruction of Justice on the part of the president meantime, the US has vowed severe sanctions on Russia for using a banned nerve agent in the UK. This would be a second more punishing round that includes banking sanctions and aid money. US officials say the election meddling could bring new penalties. Global news twenty four hours a day on air and tick tock on Twitter. Powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Doug krizner. This is Bloomberg Brian to you. All right. Thanks very much. It's eight and a half minutes now past the hour. Our next guest on the show is tweet forever. Macro strategist dad's State Street. We for great to have you back in the chair here in our studios. So yesterday, we had some positive developments word that Steven Mnuchin had approached Beijing the market's really loved that today the president walked it back a little bit. But the markets are still buoyant. What's the real story here? The real story. I think is that the US and Trump particular need to win before the elections. So he's gonna play a very very. Hard man sort of role here as much as he possibly can marketed looking at this and thinking that well, visit Lee some leeway on both sides, the Chinese obviously want to get some agreement if the US now moving towards some agreements as well. Then that's all in good. As far as the Mark implications are concerned, but what I think Trump is very keen to avoid is any agreement which actually makes it look if there's been a little bit too much. Give and take or particularly give from the US side. The yes to come out of this with a victory with a win one. That one is tweet one that he can go to them to the electorate and say look at that I managed to get an agreement out of the Chinese which Obama never did. And which six months twelve months ago, we were not close to I'll be the devil's advocate here because China does not want to give him a win. I think they're very wary of that. And they've been burned before it may. Yes, they have. So this is the risk. The risk is that you don't end up an agreement simply because Xi Jinping has said quite a few times. We're not taking it backward step here. So the, but as always with these negotiations there'll be an eleventh hour agreement somewhere, which both sides can paint is a victory. That's probably how it's gonna end up. I was under the impression that the president didn't wanna deal, and that the baseline position was that China would do a deal on IP and on trade, but not on made in China twenty twenty-five, but we had a guest last hour Shah from BBVA, and he says, no the sounds coming. Out of China now are willing to give ground a little bit on the technology the twenty twenty five and the way that they're doing. It is by suggesting that this was something from the think tank. We thought it was a good idea. But it's not etched in stone. There's never really been a concrete policy on meeting on twenty twenty five. It's really been a an idea that's Germany as it were from the think tanks, and it's made its way into and this is often the way in China things never really begin at the high level things originate from universities, think tanks opinion pieces they make their way through the provincial system. They make their way into the national system, then they make their way into government eventually, so no maiden, China twenty-five is not a concrete government policy. This makes me feel much more positive. I mean, it makes me I'll just say play the role of the typical investor that it seems like a deal could be done. So we'll talk some more about that. With you. Do we do we for macro strategies? At State Street wealth and take the devil's advocate.