35 Burst results for "Bloomberg Tv"
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"And restaurant tour. Yannick Benjamin, he joins me, Tim and our Bloomberg TV colleague romaine bostick, and how becoming paralyzed at age 25, motivated him to help other disabled people through his culinary platform. You know, what we notice, or I noticed along with the cofounder of the nonprofit, is that there are other individuals in the same rehab unit, and they just weren't getting the same love care and support as we were. And so we said, what do we start an organization or react as a secondary family where we provide them to help them achieve their objectives? And they're not like the forgotten people. And so that's the population that really focus on. It's really just being able to use our resources to help others that have less. And your restaurant at least a newest restaurant. I mean, it takes that to heart there. I mean, the way you built out that restaurant, it is designed to make sure that it is all inclusive. 100%. And up next are Intrepid Bloomberg pursuits editor Chris rouser is with us. He takes us down the path to vacation bliss with a guide to some of the best places in the world to visit. I will go to any of these. We're looking at pictures to run of Kyushu, which is this volcanic island. They've got these crazy fruits and vegetables that grow there. And we're looking at one of the town's Babu. And there was all this smoke coming up from different places in the city, and it looked like the city was on fire, but what it actually was was onsens, which are these spas that people go to. And it was steam coming out from all these different little places to go and relax and unwind. It feels like such a nice place to go. And it has new hotels opening a new and new onsen resorts. And one of them even kind of in the Woods near the city. The website when you go to it, it says the dress code is naked. Time to get your bags packed
Coinpedia
Binance is Bidding $1 billion Fund To Purchase Distressed Assets – Says CEO Changpeng Zhao!
"7 a.m. Thursday, November 24th, 2022. Violence is bidding $1 billion fund to purchase distressed assets, says CEO chomping zhao. The post violence is bidding 1 billion fund to purchase distressed assets as CEO chomping zhao appeared first on Cohen PD authentic news. CEO chomping CZ zhao finance, who was considering a bid for assets of bankrupt crypto from Voyager, sit on Bloomberg TV as company is mistakenly believed to be Chinese because I look Chinese. Biden's is not a Chinese company. We are not related to China at all. CZ stated that the binance team is engaging.
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"Services for Bloomberg news. Tell us what's going on at our good friends at Goldman Sachs. Paul, you've been in the industry long enough. You know that we very rarely get a window into a complaint like this, especially by someone so senior, not a lot of people make it into government's partnership ranks and fewer yet will ever come out and share the revenues experiences yet here. We have a deporting partner from 2020 who had done some very serious claims about a sexist culture at the bank about rude and dismissive remarks about women from senior managers about pay disparity about lack of promotions. And it does seem clear that the startling number of remarks that she had documented and that also of people allegedly behind them is really something that seems to have rattled Goldman Sachs and its upper rungs. The whole voluminous complaint taken into account taken as a whole clearly they realized was potential for embarrassment and they moved to trials out of the matter with an NDA. And when you're talking about the settlement, that is well over $12 million. And that's what we're reporting. Significantly, over $12 million, that's a pretty high 8 figure payout. We don't get a full window into these things, but you can say for certain that that is likely one of the higher settlement amounts that we are certainly aware of in the limited library and that shows you the seriousness of this. Sri, one of the really shocking lines in the story that you put out on the big take folks, definitely check it out. And I big take on your Bloomberg terminal, of course, you can find it on Bloomberg dot com or probably be covering it on Bloomberg TV and radio throughout the day, but was that this roster of people who've allegedly made these comments include the CEO, David Solomon. Right, and we must point out to our listeners that we have no indications that he was the main attack all indications we have was he wasn't the main focus of the complaint because the complaint didn't appear to us like it was going after any single individual. It was trying to sketch out a broader institutional problem at the firm, but it included remarks from several people across both excluding among them now CEO David Solomon, but there were several other people you have comments about managers critiquing people's weight and looks and neckline comparing them to flight crew, some of it to Wall Street veterans might almost seem like no big deal because they are in your to such talk, but that is also the problem, the rooted problem in industry we're dealing with, that is a reason why everyone still talks about the need for better diversity in the need for better representation for women in the highest ranks across the industry, not just at government. This is a problem across the industry. And even if people say this is the kind of behavior that they're seeing across the board, the settlement price here tells you the going price of secrecy in a way, right? And Sri, obviously diversity, sexism, on Wall Street, has been a challenge for forever. This is just another setback I think for this industry. Does Goldman have any response here? Goldman suddenly did not respond on the story. We restarted the representative, the process of the general council who did decline to comment, but you're absolutely right. This is that time for the industry because we're not talking about something that happened in a prehistoric era. We're talking about a settlement in 2020, a complaint that sketched out incidents from 2018 and 2019. That is fairly recent. And at a time when people are trying to make strides, including Goldman among others, when you could argue, has been out there and taking steps to improve and boost diversity both at its own from and in terms of engages with in a way that not many others have done. But at the same time, when you have incidents like this and when you see that the closed door dealings that go on to try and bury these claims, it tells you that Wall Street still has a long way to go. Steals work to do. All right, thanks so much for joining us. We really appreciate the street and not a Rajan covering all things Wall Street for Bloomberg news. Right now in New York with our news. Michael Barr. Paul creedy, thank you very much, projections in the Arizona governors race show Democrat kitty Hobbs narrowly defeating Trump backed Carrie Lake. Lake was one of the most prominent election deniers on the ballot, University of Virginia political analyst Larry sabado. The problem for Kerry Lake was, she was extreme. And her whole ticket of election deniers fit that mold. And it was too much, even for a relatively conservative state. Hobbes is projected to defeat Lake by just about 20,000 votes. He in Florida, former president Trump is set to kick off his third run for The White House tonight. That is despite a growing number of Republicans and donors urging him to reconsider. Among those, the billionaire founder of Citadel Ken Griffin. He lost in 2020. We lost Georgia because of his behavior in the Senate race in 2020. That's the second loss. And then this year, the Republicans lost the Senate because the Trump back candidates in the Senate races were rejected by American voters. That's a three time loser. Ken Griffin made those comments at the Bloomberg new economy forum in Singapore. The White House says President Biden did not attend the gala dinner at the G 20 summit this evening in bally. The senior administration officials said the president was not sick, but had a full day of meetings and needed to attend to a few things. Earlier, President Biden and
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"Bloomberg money minute, with inflation cutting into people's household budgets, this may be a sign we are cutting some spending, DraftKings saw its user growth slow last quarter, it has to compete with FanDuel and other sports books for market share, investors are wondering if inflation is taking a toll, but DraftKings says it's not seeing that impact. It did see a different one. Shares fell nearly 28% today. Carvana is blaming interest rate increases for the drop in used car sales it posted a wider than expected loss, company shares fell almost 39%, and some Federal Reserve policy makers say they see now interest rates peaking above 5% next year to control inflation. Former treasury secretary Larry summers tells Bloomberg TV, that may be a bit low. It would not surprise me if the terminal rate reached 6. On Wall Street, the Dow rose 402 the NASDAQ a 132, the S&P 51, gains of one and a quarter to one and a third percent. Joan doniger Bloomberg radio. What is dedication? The thing that drives me every day is a day is very un we call them day to day for short. Every day he's hungry for something, whether it's attention, affection, knowledge, and there's this huge responsibility and making sure that when he's no longer under my wing that he's a good person. I think the advice I would give is you don't need to know all the answers. The craziest thing was believing that your dad knew everything so as a dad you felt like you had to know everything. You had to get everything right. It's okay to make mistakes. As long as it's coming from love, then, you know, it kind of starts to work itself out. I want him to be able to
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"Process by changing its name to SLB. That's part of its rebranding as a technology company so it can win more work in the clean energy space. SLB plans to continue operating its legacy oil and gas business, but it will expand in technologies that will help companies curb emissions of carbon dioxide and methane, the company's CEO tells Bloomberg TV, digital is the future of this industry, and though the name change is taken effect, the future isn't necessarily here yet for SLB, the unit that's the centerpiece of its turn to the energy transition, posted only $900 million in sales last quarter, while the company overall posted its highest third quarter profit in 7 years, largely because of increased drilling activity outside the U.S. and Canada, Joan doniger Bloomberg radio. And JIT makes innovation happen. It also makes entrepreneurs like Anya o'dwyer, founder of innovate, a tech driven civil engineering and construction management firm, Anya says and JIT is defining the future. Extremely important as a hub of disciplines all in one space with all of these brilliant minds. And yet, he's wrong is huge when it comes to defining the future and how from an interdisciplinary point of view, they have it all there, whether it's the innovation hub, the makers space, and we're ready to creating bash collaboration between the disciplines and you have civil engineers speaking to programmers speaking to electrical engineers. And together, they're creating advancements that we wouldn't have been able to do without those three minds coming together and solving a problem as
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"The equity market is advancing although we are slightly off the best level of the day. It is now 2 p.m. on Wall Street from Bloomberg world. Headquarters in New York, I'm Doug prisoner. I think it's fair to say that markets remain braced for what is likely to be a hawkish speech tomorrow by way of fed chair Jay Powell. Today we heard from the head of the Kansas City fed Esther George, she told Bloomberg TV the fed's benchmark rate must rise or may have to rise above 4% in order to defeat inflation. We also heard from the head of the Philly fed pat harker. He told CNBC rates need to be lifted into restrictive territory. Now, if you look at what's happening in the bond market right now, it's a little curious because we're down across the curve in yield terms, a ten year treasure off by more than 7 basis points to 3.02%, a two year weaker by about three basis points to three 36. Maybe the markets are braced for the possibility that the fed will get it wrong. Yes, the auction of some notes today was better than expected in terms of the economic news kind of cutting both ways today. The government revised second quarter GDP to a negative 6 tenths of 1% that from a negative 8 tenths of 1%, so yes, less bad, but the economy remained in contraction. On the other hand, the number of first time jobless claims down for a second week last week, tomorrow we're going to get the fed's preferred measure of inflation, that will be the PCE deflator for July. In terms of equities, we've got the Dow higher by about four tenths of 1%, S&P 500 ahead by 8 tenths of 1%. And in the NASDAQ market, the composite index rising by more than 1.1%, seeing weakness in retail stocks there down for another day this time on signs, lower income shoppers are being pressured just a bit, Dollar Tree today cutting its full year outlook and those shares right now are weaker by let's call it 10%. The dollar showing a little bit of weakness with the contraction that we're seeing in yield, Bloomberg dollar spot index down two
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"Been getting some relief from the fact that inflation has been a little bit better, sentiment was very bearish. You've had some better than expected economic data, but I don't think these issues have been resolved and we still think that the fed has more to go and then also will ease policy less next year as they want to stay serious about inflation. It was awesome to catch up with Andrew sheets and more could stand me just yesterday. We need to catch up with this market right now with Tom Keane and carry on some Jonathan farrow. Breaking down on the equity market down 9 tenths of 1% on the S&P on the NASDAQ 100 down one four percentage point. The price action though to be fair is elsewhere. Yield time by 6 basis points on a ten year stateside two 93 90, elsewhere guilt yield tire, bun yield tyre, BTP's Italian bond yields much higher by 18 or 19 basis points over in Italy to let's call it three 50 now. And off the back of some of this, the dollar just eating gap G ten, ripping through it. Cable Tom, Sterling down by 9 tenths of 1%. That's a weaker pound. Cable down to one 18, 20 this morning, you're a dollar just about holding onto parity. The hallmark folks is surveillance. It's a user language carefully. I'm not going to say Sterling plunged Sterling and freefall, but John, it does have elements of that as we approach the ones, the one 17 level. John, it also the North American complex with loony out to one 30 in peso, which has been strong peso recently 20.2 5 gets my attention. Yeah, I've got the dollar stronger against basically everything in G ten. I'd say maybe with the exception of the Swiss C, the Swiss aid against the dollar base of the unchanged on the morning, but maybe that speaks to the defensiveness you see in elsewhere too. We want frame it right now, but we are watching heroes Swiss and we'll continue to do that for you this morning futures negative 39. Julia Julian Lee is definitive on oil. He writes for Bloomberg opinion. It's to say an oil strategist that barely describes as academic acuity in the market. Julian, an open question on a crazy Friday in supply and demand, what is a distinction you would write about next week? I think next week it's going to be about two things it's going to be about the will they won't, they revive the Iran nuclear deal. And it's going to be very much about outlooks for demand and outlooks for the broader economy. I mean, I think this side of the Atlantic we're in real difficulties. So a huge question, Julian, for me, is it doable to measure demand or is it entirely after the fact where you have to wait for the time to go on to really see what the demand did? Can you get out front on demand and else? I don't think you can get out front really on measuring demand. You know, even if you look at trying to measure demand historically, that is notoriously difficult. I mean, you see revisions to demand 5 years and more into the past. So it's always on demand much, much more of an estimation game. And so people will be looking at all sorts of outlooks of other things to get a read on demand. We've focused so much on demand in recent weeks, Julian, given the narrative out there about growth slowing. Are we are we overlooking how constrained supply still is? I think there's certainly in some circles that are concerned that we are doing just that. Bloomberg TV had this interview earlier this week with the new secretary general of OPEC who said basically we have no spare capacity or almost none. We've got European Union sanctions on Russian crude due to coming to effect in December. We've had a rebound in the last month or so in Libyan output, but that remains fragile. That could be gone again in almost the blink of an eye. We still in what has so far been a mercifully quiet hurricane season in the Gulf of Mexico. But that's still not over. I was on the coast of Florida close to the Louisiana border last summer and I ran away from a hurricane then, so I caught the edge of one. A big hurricane could tear through and do some real damage to production. There is a lot of fragility on the production side. I want to wrap things up with the reality check that we could get on the European front come September after all summer vacations are complete and hopefully the likes of Spain, Italy, Portugal, Greece, can get as much money as in in as they can because Julian, the talk that I'm hearing is that we are going to go to some serious effort to reduce consumption. During the ideas that have been thrown around at the moment, what do you think we need to pay attention to? Well, I think many of these ideas are around natural gas rather than oil. And electricity too, and one of the things that we're seeing is more oil being used to generate electricity and industrial heat where you can. So saving everything is important. You know, I think we are going to see people turning the lights off in office buildings, people turning the lights off on iconic buildings that are flooded. We still don't seem to be seeing a great deal done to retrofit insulation in home certainly not in the UK and I don't think in many other places that obviously is a longer term solution, but it's an important one. And I think we need to start getting serious ahead of this winter about saving energy about using energy much more efficiently. For day work week, Julian, is that what we're heading towards? I don't see that yet. Working from home more, perhaps. That's a real possibility. You know, I think the pandemic has shown that for many people that is a realistic possibility. And we may well see people ask to do that again. For a very different reason. Unreal. Gillian, thank you. Jillian Lee there, with the latest at a London TK, the prospect of some real effort to curtail energy consumption in Europe likes it this year. You know, we're making jokes about the foliage. John, nothing about this is gonna be funny. Oh, absolutely not. The only thing I can come up with John is what folks Landau said the morning of the invasion, this war and Ukraine, and David folks land, I said, you're going to see a fiscal impulse from Europe. It no one living understands. That's where we're heading. Well, the student just set their case. The pandemic playbook is there in a certain way. This is just a very, very different issue. It's very different and yes, we know that demand can be reined in by working from home and people not commuting. But again, the seismic shift in supply and the ability to access energy to power economies, working from home can't solve it all. Demand reduction that the European Union needs to do in order to get consumption down two levels that can actually be matched with the supply and the inventory is available. That's going to be a really, really hard effort, John. I'm not actually policy in fiscal policy will look very, very different to what it looked like back in spring 2020. If you're just tuning in, we are lower with down 9 tenths of 1% on the S&P, guiding you towards the weekend. It looks like we're about to close the week with a weaker losses. We become an Friday positive by about a tenth of 1%. Futures eaten into that. We're down by 9 cents of 1% on the S&P on the NASDAQ 100 down by. Let's call it one four percentage point TK. Joe, I want to walk
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"Look, it's just clear that the sand has a lot more work to do. They're behind the curve still inflation is still by far our biggest problem if everything we're hearing from the fed is be patient we want to see the numbers on inflation we need them to come down. We feel that the fed can probably do its job and get things done in terms of bringing down inflation. I think by the end of this year, we're not talking about inflation anymore. This is Bloomberg surveillance with Tom Keene, Jonathan farrow, and Lisa Abramovich. It's non farm productivity Tuesday from New York City for our audience worldwide. Good morning. This is Bloomberg surveillance live on Bloomberg TV and radio Tom king John farrow and Lisa abrons John off for the entire week, not just today, and yesterday. And Kaley Lyon's very much in the seat, we appreciate it and happy birthday, Tom. I do want to get a sense of how much this is a data dependent market. We see it's a data dependent fed at least what they're saying even though they give a lot of forward guidance. However, we are seeing each data point really move the needle. And what's important is beneath the headline data never as mattered more and that's what we're going to do today with productivity and all its complexities, but Lisa, I would really take it to tomorrow where we really got to parse out the inflation data, not just look at the headline number. You made a great point earlier, Tom, where you were saying that the non farm jobs number that we got in Friday was kind of game changing. And I would agree. I would have heard from a lot of analysts was it confirmed this idea that a recession was not imminent in the economy. How much does that CPI potentially end up being game changing as well? If it comes in, not lighter than expected, but hotter than expected. It can be either way, and we've seen those two different opinions from our gas branch shoot you to join us here in a moment will no doubt weigh on that as well. But what's interesting to me is not so much the makeup of core in headline, but at least of the makeup of the service dynamic versus the goods dynamic in the major surprise to the optimists may be goods disinflation. And that's put a lot of people were kind of expecting the sort of roving inflation. I keep going back to that because it's not sticking in one place. It's going from sector to sector, maybe moving away from washing machines and going toward rents. But Kayleigh, how much are we seeing that in some of the dispersion and earnings? Because we've seen almost 90% of S&P companies report earnings. And it's been all over the map in terms of the optimism or pessimism, but overall resilience is the word. Resilience or at least less bad than feared, which doesn't necessarily make it great, but at least it's something and that has provided somewhat of a ballast of support to the equity market, but you have plenty of people, Mike Wilson, over at Morgan Stanley, David cost and a Goldman Sachs saying looking forward into the rest of this year, that margin pressure is going to come in as you look at producer price inflation, that of course will also be getting later on this week. And that continuing to be a persistent pressure. My question, Lisa, is if inflation is still running hot and the labor market is resilient, doesn't that just mean that the fed has to be even more aggressive in order to actually get demand now? Does that mean the economy is too strong? So their policy doesn't have as immediate as an effect. And that's what Greg Peters was getting at, that he doesn't buy this idea that the fed is going to be able to cut rates next year because of the intransigence of this inflation, but Kaley give us a sense of how good or how bad the earnings were. I mean, how much does Mike Wilson's view a faith based view on what's to come rather than on the ground teale is now? Well, the backwards look was okay, right? You had most companies beating expectations on average by about 4.4%, but we have to keep in mind that a lot of that came from energy because obviously energy companies have just been blowing it out of the water in terms of profit. If you ex that out, earnings have actually been down, not up. So that's something we have to consider. And Tom talking about oil prices, they are up about a percent on the heels of that headline very much driving. A lot of the action that we're seeing today with the drawings that we're seeing in equities continuing to deepen as we move ahead in this morning. Up a stick on Brent crude back to 98. We've ebbed off a little bit in the last 20 minutes, but I would put it in the category at least it bears watching. It bears watching especially because it's a reversal of the trend that we've seen. How much is that? What's underpinning the optimism, the decline in gas prices and this fact that we have seen a cooling off in oil, which is one of the major components for a lot of the headline CPI prints. Right now, let's turn to somebody who's been tracking this all from the wonderful city of Milwaukee. Dear and near to my heart, Brent Judy. CIO of Northwestern Mutual wealth management talking about the potential optimism or not heading into the rest of the year, you think a recession is already baked into the price. What makes you confident about that, given the resilience that we have seen in the evaluations. Well, I mean, there's so many things to say here. I guess if you look at the 25% decline early in the year, I think that was the baking end of a mild recession. Everybody trotted out their graphs that showed that the S&P was pricing in a 91% chance of recession. I think that's priced in. Look, what's going to happen for the rest of the year is going to be determined by the path of CPI period. Everybody does these historial historical analogies they talk about earnings. I think if you look at 66 to 82, if you're going to start making historical analogies. And each and every one of those times, when CPI peaked, the market bottomed. And guess what? During the time when CPI peaked in the market bottomed, earnings actually peaked and rolled over. Think about the CPI comments that you just made, the PPI comments, the producer prices, the margin pressures. The most important thing you need to think about is CPI and I do think that's peaked and I think it moves lower in the coming quarters. Run, as you know, and you've been very good at avoiding the cliches, the mother of all cliches right now is to buy quality. We're in search of what that means. I have no clue. But what I do is know is if I have a three year hold, a more cautious Northwestern Mutual view, I can parse quality growth versus quality value, which is more attractive now, given a short term of three years. Quality value for sure. I mean, if you look at value as a factor, it is as cheap as it's been historically. Agreed. So if you think about value, I think about things like the S&P 600, which surprisingly to some is small caps, but it's quality small caps. There's actually been the best part of the market this year, not large caps, not mid caps. It's quality small cap and towards the value side. Okay, but I need to interrupt. This is so important, Brent, since 2014, we've had a partition where growth is rained supreme. What is the catalyst for quality value to begin to catch up? I just think that the differences in valuation. Look, it's not a valuation is not a shorter term metric, but it's a longer term metric that tends to work. If you buy something cheap, you're paid over periods of time, three, 5, and ten years. You had an extremely odd market during the period of 2010 to 2020, where interest rates were artificially low. Earnings on the technology side were the only game in town. I think that's shifted. You just mentioned earnings in your opening with oil stocks and things of that nature doing a bit better and think about the possibility for interest rates to continue to rise on a ten year, certainly I do think the fed is probably done here in the not too distant future, at least for now, but I don't think we're going back to a period of time where you wake up each morning and worry about deflation. I think it's quite the opposite for the next few years. And every economic cycle has had different leadership because it's unique. And so I think going forward, you should look towards quality of value, just given the cheapness. And if you think about it, the economic environment will eventually shift. I think we're going to have a mild recession. There's another side to that. And we already have price set in, I believe. And so when you think about valuation plus what's coming, I think, from an economic perspective, I think you want to stay in quality. I'm sorry, in value. All right, well, it takes two views to make a market and Brent, you're kind of
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"We do here on Bloomberg. Absolutely, Joe. All right. The host of sound on here on Bloomberg radio and anchor report on Bloomberg TV, Joe Matthew. All right, I'll send it back to you guys. All right, thank you, Eddie. As we await for trading to begin in Tokyo Sydney and Seoul at the top of the hour let's get you caught up on market action here on daybreak, Asia. We crossed to a Hong Kong Brian Curtis there looking at markets. Hey, Brian. There's so many big stories today. Yeah, it looks like it'll be a down day in the Asia Pacific, but these are not big losses that were expecting. Right now we see nikkei futures at 27,865. That's about a 130 points or so below the cash closed yesterday Hangzhou index futures are down more than 1%. But that's the only benchmark that is trading down with that magnitude. FTSE China a 50s down about two thirds of 1%. Australian futures are off just three tenths of 1% in S&P E minis down about two tenths of a percent. There's a lot to be worried about. We had a weak manufacturing figures across the globe yesterday, in particular, that fueled concerns about an economic slowdown oil fell 5% in the last 24 hours, tracking down to around $93 and 75 cents a barrel. And looking at some of the other parts of the market that have shown quite a lot of reaction today and I say reaction to the Nancy Pelosi visit and also to aggressive fed talk. We saw from several fed speakers in the past few days that the fed won't be happy just to nudge inflation lower, but they are going for the jugular and they want to get inflation down to 2% in the United States. The yield on the ten year treasury now 2.57%, the dollar is a little bit weaker, dollar yen, one 31 54, so a lot of strength here recently in the end. All right, that is a check of markets. Let's get to news. Headline news now with Ed Baxter in San Francisco. Thank you very much. White House says Al-Qaeda leader. It was killed by a U.S. drone strike in Afghanistan. President Biden is saying that it was a culmination basically in the continuing fight I should say against Al-Qaeda that started on 9 11. It is looking more and more as if Nancy Pelosi will be making a stop in Taiwan under Asia trip. There has been no official confirmation from either Pelosi or The White House, but Bloomberg sources say she will land tonight. National security adviser spokesman John Kirby on Bloomberg says their indications that it could respond with missile launches and straight fly throughs. The Guardian reporting, by the way, the British House of Commons foreign affairs committee is planning a visit Taiwan probably in November. U.S. State Department says Russia is using a Ukrainian nuclear plant as a nuclear shield and the secretary general the United Nations Antonio Guterres has given the dire warning that the world is one step away from nuclear annihilation. In San Francisco, I'm Ed Baxter. This is Bloomberg. Right, Paul. Thanks very much for that. Well, on the subject of the world to sing on the edge of a knife, we're joined now by Neil Ferguson, a milbank family senior fellow at Stanford University's Hoover institution to talk about Nancy Pelosi's trip to Taiwan Neil and in terms of throwing a bucket of kerosene on a smoldering fire. Where does this trip rate? Well, I wouldn't try this in the backyard. This summer, let me put it that way. Obviously, there has been a succession of visits to Taiwan by U.S. political figures. This goes back a long way, I know it's hard to remember that far back, but Newt Gingrich did this back in the 1990s, but what's striking is that there's a kind of continuity from the Trump administration to the Biden administration where there have been visits have been increasing symbolic importance and this is the biggest and from a Chinese vantage point most provocative that has been former secondary state Mike Pompeo went, but he stepped down as secretary by the time he did that to have the Speaker of the House of Representatives going to Taiwan is a pretty big poke in the eye of Xi Jinping and especially as it's now very likely that Nancy Pelosi is going to meet with the Taiwanese president. So I think it would be very surprising indeed if the Chinese didn't stage quite a lot of fireworks of a military variety to signal their disapprobation, that means jets flying in and around Taiwan, it might mean some maritime activity as well. And I think this will certainly make some investors quite nervous, but I'd be pretty surprised if it escalated all the way to war. In other words, there's kerosene on the barbecue, but they're not about to blow the house. Neil, give me a sense of the timing here, provide a little bit of insight. We know that she has been struggling with the COVID situation. The economy is weak. We get that. The party Congress comes in October. Is there a sense of vulnerability that you suspect the U.S. Census right now? It's hard to answer that question to be honest because I don't really understand why the Biden administration is being so confrontational on this issue and it's not as if this just came from nowhere three times President Biden has seemed to change the U.S. position on Taiwan only to have his own staff walk it back. The defense secretary Lloyd Austin talked pretty tough on Taiwan last month and the month before so did Secretary of State blinken. So there's not there's not a lot of logic to this in my mind. From a strategic point of view, the U.S. surely has its hands full with the war in Ukraine. It's also clear that in the event of a showdown over Taiwan, the U.S. would be in a much more difficult position than in previous Taiwan crises. In 95 96, the Clinton administration in the end could send two aircraft carrier groups and that was the end of that. That would be a much riskier thing to do today given how much more sophisticated Chinese weaponry has become and the reality is that the Chinese have missiles that can sink aircraft carriers now, which they certainly didn't back in 1996. So I can only conclude that this is being done partly for domestic political reasons because team Biden still thinks that being tough on China is political box office in the United States. From a strategic point of view, it doesn't make a lot of sense. I'm beginning to wonder if maybe there's a little bit of wag the dog going on here with the midterms coming up. And the public at the United States, public has become steadily more hostile towards China over the last few years. I can't think of a better explanation than this though. It's a very risky thing to do, given as you rightly said, how weak she shouldn't ping's position seems to be right now. The economy stalled coat zero COVID
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"And on Bloomberg quicktake powered by more than 2700 journalists and analysts in wall then 120 countries I'm Leanne guerin's this is Bloomberg Lizzie Thanks Leon Now while other tech companies are slowing unfreezing hiring Airbnb CEO Brian chesky told Emily Chang in a Bloomberg TV interview that he was stepping on the gas in terms of recruiting new employees Let's take a listen Well first of all the reason that the price per night went up was mostly because people are booking more expensive airbnbs So before the pandemic a lot of people were traveling by themselves or a one person they were booking one two bedroom homes Now they're booking much bigger homes to travel at families and groups And there's been a mix shift from Asia to North America and Europe And these are higher price per nights That's the primary contribution for the increase of price You are correct though A lot of people aren't going to be able to travel and be able to Ford to travel But another thing Airbnb was started during the Great Recession in 2008 And people used Airbnb because it was in a more affordable way to travel After two years of people not being able to leave their home many people I think they want to get out and this is going to be a travel rebound unlike anything we've ever seen before Still even though you're projecting this travel rebound you've got Airbnb shares down to new lows And I'm so curious how you're watching this broader market turmoil What's your take on this I'm not watching the broader market turmoil and I would hope shareholders know that I'm obsessed over every single day are the inputs to the stock price not the stock price I think that's the very best thing for shareholders So my job is to make sure we have the best service We have enough hosts They're prepared for the great travel season That's what I'm going to worry about We're going to play a long game And I think the long-term shareholders will really benefit from that I wonder how this impacts retention and recruiting though we're actually seeing a lot of companies that really soared in the pandemic struggling coinbase Robinhood as well Do you think this could impact hiring at all or the mood in Silicon Valley I mean we're actually completely overwhelmed with hiring We're completely overwhelmed Two weeks ago we announced that Airbnb employees can live and work anywhere in the world And if you move wherever you want in the country we're not going to lower your pay Since we made that announcement more than 1 million people visit our jobs and careers page we only have 6000 people at the company So I do think that there might be some broader kind of considerations but Airbnb we have quite a lot of interest in I don't think that will change So Twitter just announced a hiring freeze and cutting cost potentially rescinding some offers for a different reason And I wonder with this on top of other companies pausing hiring If this could be a moment of opportunity for you do you see this as a chance to attract be a magnet for new talent I mean a lot of people are reaching out to us from other big tech companies Maybe because a lot of tech companies are asking people to go back to the office three days a week or maybe because they're not hiring as many But make no mistake Airbnb is stepping on the gas this summer How are you stepping on the gas in China We're seeing ongoing COVID lockdowns there I know it's been a priority for you in years past What trends are you seeing in apac and when do you expect them to recover You know our China business has primarily been people in China leaving China obviously crossing a border so it's cross border travel going to other countries Japan was a really popular corridor South Korea They're going to Europe They're going to other places because of the situation in China in COVID There's not a huge amount of outbound business right now And so our business in China is not super robust and it's going to be probably a while It's really going to track what the health crisis Okay that was Airbnb CEO Brian chesky with Bloomberg's Emily Chang He says he expects a travel rebound unlike anything seen before And he says Airbnb employees can live anywhere in the world Carolina wonder whether they're hoping stuff do that in Airbnb's Yeah absolutely And also you know you can split your stay apparently that's the kind of new step forward that Airbnb is has done So you can say in a couple of different places Look I think there's no doubt that everyone expects a very strong summer The issue is not that sure it's about autumn and winter and what happens there I mean I'm talking autumn and winter the northern hemisphere so the U.S. and Europe What happens after that And that's the real worry Heathrow in others have talked about it And do you know what talking to hotels in the UK The big worry about winter is that they're going to have to turn the heating on And so when you've got the energy crisis already bad now imagine what it's going to be like after October And this of course after Bloomberg did some analysis on just how much more expensive life is becoming for people here in the UK as we bring you that top interview with the Chancellor Rishi sunak who's been speaking to Stephanie Flanders 2370 pounds on average is what household bills are going up by in the UK this year and we're not even at October when those energy prices are going up again And yet he blamed the old antique IT system for why he couldn't increase benefits anymore Remember they rose only 3.1% in April when inflation was 7% He could have increased universal credit as he did in the pandemic but he chose not to Yeah look this is the battle over 20 pounds 20 pound uplift in universal credit every week for people on the lowest incomes in society And economics is becoming front and center now in terms of politics So I hope you'll tune in to Bloomberg Westminster which is our political program at 12 noon on DAB digital radio This lunchtime refocus on Northern Ireland Coming.
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"By 1.9% recapping stock's lower S&P down three tenths I'm Charlie pellet that is a Bloomberg business flash Thank you so much for that update Charlie pellet Well as we do each and every day at this time we check in with creedy Gupta She's a markets correspondent for Bloomberg TV and radio And she's with me now not just because she's markets correspondent but because she's my co anchor for the day here on Bloomberg businessweek radio We are talking China's yield premium to treasuries when it comes to today's chart of the day I think also I don't know how you do this creedy because you've been here I thought it was since 5 a.m. but you apparently have been here since 4 a.m. you've been anchoring TV throughout the day You're also anchoring radio for three hours with me You're also doing chart of the day It's a party Okay Well first off I just want to quick shout out to the chart of the day fans as Dave Wilson would call it It's been a couple days since I've actually sent this out It's always a whole Twitter profile It's been three days of you know Yeah but it was also a busy week last week with the shooting in Brooklyn Sadly And there was just a lot of busy news But thank you guys for sticking with me And thank you guys for tuning in to today's charter because I'm actually really excited to nerd out again It's great when you have a little bit of time to do that So my chart of the day today does something a little weird My subject line which you guys will get in a second is called a disappearing act which is a China's yield premium to treasuries It is now completely gone And so you'll premature treasuries Let me just kind of break this down here So we have the U.S. treasuries right Which is supposed to be the world's safest investments right It's backed by the U.S. government Both faith and credit Full faith and credit exactly If anything goes wrong in the world a lot of people flock to U.S. treasuries Well a lot of people have also been flocking to the Chinese government bonds And for a long time because they're emerging market bonds just because there's a little bit more risk there They have offered higher yields And because these are kind of the two I want to say economic superpowers of the world They've kind of been compared off And so China's government bonds have always offered a little bit more yield compared to American treasuries Well not anymore as of today a US Treasury is actually offer more yield than China's government bonds Now the reason for this is twofold One is the fundamental reasons right China's economy is slowing down a little bit We got a hoard of economic data That kind of suggested that there is going to be a little bit of a slowdown in a country that had a lot of momentum when the pandemic first began that they were able to contain it faster They were able to bounce back faster That has since abated Now they've kind of are sticking to their zero COVID policy even among the more contagious variants And on top of that aren't able to ramp up their production as quickly The flip side of that is monetary policy And this is really where it gets very nerdy So stick with me I'm here Tim and company When you start to see a very aggressive Federal Reserve the expectation is that the rest of the kind of monetary policy the ECB the BOJ the PBOC they're all going to kind of follow the fed's lead The fed kind of said monetary policy But with the COVID-19 pandemic and with inflation you've had different countries adjust to it differently So instead of J Powell being the chairman of the fed to the world or head of Central Bank to the world whatever the phrase is You've had EM banks hike rates faster The ECB do their own thing The PBOC actually talked about stimulating instead of hiking rates So easing rates And because of that divergence people are saying well if the fed is hiking so much there's no way there's no amount of stimulus that China can provide That's going to make this kind of a better situation because the fed is going to be taking the lead here So because of all of these different factors basically the takeaway is that in the last ten years when a lot of people have been saying well we want extra yield extra return We're just going to go to the Chinese bond market where you can't do that anymore To get about the same amount of deals or even more you kind of have to come to the US Treasury market So as we've been talking about the bond sell off in the last couple of months maybe this will help you a little bit for it What's old is new again Kind of Yeah it's kind of full circle right Yeah well hey before I forget if you still don't sign up for creed's chart of the day or you haven't signed up for creating chart of the day just send her an email It's K Gupta one two 9 at Bloomberg dot net You can also check out our profiles on Twitter and Instagram where she does a lot of tweeting and sharing of news when it comes to the stuff that she's interested in Speaking of what you're interested in no specific ion story today but if you were to choose one what is the story that grabs your attention I'm putting you on the spot here Yeah you really are There's so many though To me it's got to be well let's just stick with the China theme right Didi Is down Like a whopping 20% It's crazy They're just talking about delisting some of their shares coming up in a May 23rd meeting I mean this is coming full circle after years of talking about delisting from American exchanges and Dede would be one of the first high profile ones amid this backdrop of kind of geopolitical tensions between the United States and China So let's see how that's going to all pan out May 23rd is the date but it's not anticipation of that that you see deity shares dropping today Creedy Gupta with hort her chart of the day Again sign up for greedy chart of the day Hey Gupta one two 9 at Bloomberg net also check her out on Twitter and Instagram at creedy Gupta news Well coming up in just a couple of minutes we are driving to the close We only have 20 minutes to go until the close of trading on this Monday afternoon You're listening to Bloomberg radio Let's get from New York City down to Washington D.C. where Nancy Lyon stands by with a check of the.
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"Has sunk despite efforts to tow it to safety I'm Charlie Powell that is a Bloomberg business flash Thanks so much for that update Charlie pellet Well as we do each and every day at this time we check in with creedy Gupta Here at Bloomberg TV and radio for her chart of the day if you want to check out treaty's chart of the day just send her an email Okay Gupta one two 9 at Bloomberg dot net also check out what she does on Twitter and Instagram follow her at creedy Gupta news Creedy we are talking serial here I love the actual title of this Don't forget the cereal We're talking grain spot index at its highest since 2011s crop crisis Take us into it Things that we don't realize is just how much grains go into I know it's kind of a boring topic for people but what's important is that one Russia and Ukraine account for over 25% of the world's grain supply and for people who don't really know what grains go into It goes into everything from cereal to bread to beer And those are prices that are really skyrocketing right now So that's my chart of the day It goes back to 1990s to all the previous peaks where you've seen grain prices and of course the consequently food prices rally and a lot of them in the past have been kind of a consequence of crop harvests or weather situations or shortages on that front It's never really been a consequence of war This is the first time we're seeing that but the way the market is reacting it's almost as if there's no supply at all And that's the way it's kind of treating this even though there is supply commodity kind of investors just can't get to it because of obviously the situation going on in Ukraine and Russia as well as the fact that a lot of the ports are closing So that means higher shipping rates You can't get access to the stuff So the market is really kind of making those prices rise And it's only a matter of time before that shows up essentially in your grocery Bill All right So this speaks to which is why we talked about watching the Baltic dry index right It's there The supply is there right And we've talked about energy markets prior to this We're there But what happens is the moving around of these resources And of course with Russia and the invasion of Ukraine it's a lot more complicated as we know They're not there So the supplies that exist can't get to the buyers that want it Exactly And therefore not to your kitchen counters essentially in the United States and around the rest of the world What's interesting to me I mean you've seen this even in the oil market The price that it takes to get to Russian oil right now a Russian commodities right now simply the shipping rates the tanker rates to get out of the Black Sea are surging So you actually have a lot of traffic being diverted through other transport through airlines through shipping through I'm assuming there's a railroad in there somewhere So all of that is going to factor into the cost that essentially the end consumer has to pay It's interesting 'cause in your chart you talk about the cost of these companies have to pay but they're also going to be hit on two sides For example Anheuser Busch has a 14% share of the beer market in Russia as you know so it's not just rising input costs but potentially disruptions to their sales as well Yeah absolutely And Anheuser Busch isn't the only one Russia it makes up about Russia and Ukraine as they combined makes up about 9% of McDonald's revenue Coca-Cola I guess 21% of their volume from there So that's all going to feed into the end product Like I said for a lot of these companies All right let's talk about your ion story today I saw this across the Bloomberg terminal earlier this morning It was a redhead that Ukraine raising the equivalent of $277 million in war bonds What grab your interest about this one Well let's talk about war bonds to begin with When was the last time you heard a country raising money World War II Yeah they were huge in the U.S. during World War II Yeah exactly And half the population got them So since then in any country around the world you haven't really seen this kind of fundraising And Ukraine really at the top of the list when it comes to that And this is really important They raise $277 million or the equivalent of through this fundraising But on the same day while they're in the middle of the war I might add They paid $300 million on interest That was due today That's kind of how responsible I guess this country is when it comes to their debt payments It's important to keep in mind also that the way this is being looked at by investors is not that they're in the middle of the war therefore therefore we shouldn't touch their bonds They're looking at it as Russia's uninvestable simply because of sanctions that are being put on it Ukraine well when they come out of this they might actually be closely more closely aligned to the EU And that's the reason to buy into the bond So it's not just about kind of charity or humanitarian relief This is actively seen as an investment Yeah it's a great contrast against Russia certainly as an investment at this point as we see money increasingly moving out of the Russian area Thank you so much Really appreciate it Bloomberg markets correspondent create a Gupta There with her chart of the day and her eye on as well All right Well we got much more of a Bloomberg a business week coming up in just a few minutes We are counting down to the close about 20 minutes to go In the meantime a.
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"Is balance of power on Bloomberg TV and radio on Joe Matthew ExxonMobil posting the biggest profit in almost 8 years this morning as the earning parade continues Let's get more right now from Gritty Gupta Pretty interesting here to see ExxonMobil benefiting from a story we talk about a heck of a lot on this broadcast rising oil and gas price Yeah absolutely and not only have they really benefited from that that's something you're seeing across energy companies They're actually boosting some of their investments in those new oil wells Let's put that into comparison with what we've saw from Chevron just last week The idea that some of those longer aged wells actually ate into the profits of their bottom line So you're really seeing Exxon get out in front of it You also are seeing Exxon's free cash flow triple from 2020 So once again speaking to the idea that they're really benefiting from those energy prices UPS also with a big report another story we talk about endless demand for shipping And listen to me and for shipping they hiked up their rates which is actually really helping their bottom line But I think the biggest UPS story which we know is kind of this economic bellwether is that they actually got in front of the labor issue way before not only their peers but the rest of corporate America way ahead of the holidays they said not only are we going to start hiring workers early We're going to do it at a higher wage too So by the time those kind of inventory issues and supply chain issues showed up for other customers UPS was already ahead of it And you can really see how that affected their bottom line and just to really highlight the effect this is having on the market The two biggest index contributors right now are UPS and Exxon Well big move Thank you so much Pretty good though Coming up COVID hospitalizations are dropping nationwide Have we peaked We'll check in with the doctor fighting the pandemic on the front lines This is balance of power on Bloomberg TV and radio.
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"Bloomberg TV and radio I'm Joe Matthew and for David Weston For Bloomberg first word news we now go to Mark crompton Mark Joe thank you NATO secretary general Jens Stoltenberg says the western alliance has increased the readiness of its response force over the past weeks and is considering adding battle groups in the Black Sea region He says that NATO is working hard for the best peaceful political solution but is also prepared for the worst From the NATO side we are ready to engage in political dialog but we're also ready to respond if Russia chooses an armed conflict Secretary general Stoltenberg adds that the NATO allies are ready to impose heavy economic sanctions on Russia and he adds that Russian meanwhile has denied an intend to invade its neighbor despite missing thousands of mass and rather thousands of troops tanks and equipment near Ukraine's eastern borders North Korea has now confirmed that it's launched four missiles this week The test included the launch of two long-range cruise missiles that could give Kim Jong-un's regime the ability to hit almost all of Japan Kim has ramped up weapons testing in an effort to signal unhappiness with the United States over economic sanctions The UK will start giving Pfizer's pill to vulnerable people next month rolling out a treatment that could save thousands of deaths linked to the pandemic And a drug developed by Merck showed activity against Omar Kron in 6 lab studies raising confidence in the ability of the new therapy to battle the variant It will take Hong Kong at least 6 weeks to vaccinate 90% of its population if the current pace holds This means it could be the middle of March before the city could start easing restrictions such as those on restaurants bars and gyms Meantime Germany's 7 day state of infections rate rather of infections rose to an all time high Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in over 120 countries I'm more crumpton This is Bloomberg Thank you A few signs.
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"That's where under world everything was going very well But was there anything that you would do differently with hindsight the benefit of hindsight in Europe And do you feel like you were unfairly politicized that moment You know I mean I think sometimes people try to read too much with hindsight I mean it's like running a clinical trial if the trial fails people will ask you would you do this trial again I mean if you know it fails of course you may not run it again But this is hindsight So there's nothing really that we would do differently Again politics was always going to be part of this issue It probably was more than we had anticipated but it was always going to be part of this issue because we expected issues of moving vaccines around the world We expected export bans we expected debate around the value of vaccines So we expected a lot of political issues and debates It was more than in your hope It was more than expected of course But we stayed totally focused on delivering the vaccine and solving the problems as they came If you're in Europe you can catch francine likewise full interview with Pascal Sylvia on Bloomberg TV tomorrow That's at 7 30 p.m. London time And silhouette on Bloomberg daybreak Europe our interview with the Liberal Democrat MP Wendy Chamberlain about how a con measures should be introduced what her party thinks now that they won that by election in north shropshire.
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"NASDAQ 100 which again today is really a plane that defensive role but that really has been where all the volatility has been Yeah I want to bring our conversation back to talking about the virus because certainly that's the mood here in New York and the mood around the country as we see cases Spike and Taylor I think you made a really good point earlier to look at hospitalizations and to look at what we've learned about this virus over the past 22 months Let's take a listen to what Andrew pecker the Johns Hopkins Bloomberg school of public health professor and virologist said a little earlier on Bloomberg TV Check it out Call the guy team is looking more and more like seasonal influenza The vaccines are going to prevent some level of infection but not all but they're going to make a really big dent in terms of the severe disease And that is probably where 6 months a year from now we're going to really be settling in terms of managing this disease Yeah once again Andrew peck off the Johns Hopkins Bloomberg school of public health professor and virologist we should note the Johns Hopkins Bloomberg school of public health that is supported by Michael or Bloomberg founder of Bloomberg LP Romania got to tell you we talked to doctor Ian lesbian at NYU earlier in our program And he said this is the type of thing he thinks everyone is going to get the omicron variant and he actually says that he's hopeful that by the spring this is going to be the last variant and this is the way that the first could actually end I know that's you don't know that Believe the speculation to the doctors and scientists I mean to Taylor's point I think you know it does help to maybe look a little bit closer at hospitalizations deaths and severe illnesses to get a better sense of where we are Look I think anybody who's walked around the streets in New York and I'm sure you're seeing this play out and other cities the lines at some of these testing centers aligns with some of these vaccine centers are around the block And we did not see that just even a couple of weeks ago So a big change here And I guess the real question guys really becomes is how does this at all affect economic activity We've had some anecdotal evidence that we've seen some cancellations and airline flights But then we were talking a little bit earlier Kaley Everyone's want to go see Spider-Man at the movies Some people are at least but fewer people may be working in the office We're seeing a lot of the big Wall Street banks for example telling people not to come at least through the holidays And then it becomes a question What happens to the coffee shops that are on Wall Street And it may affect activity even if to Taylor's point we're not seeing higher hospitalizations and deaths just cases still mean you have to quarantine I think it was Alicia Levine over at BNY Mellon wealth management that said that shock value of all these headlines for sending out it has lesson because we're just unfortunately used to it at this point but you do bring up the good or tired of it Both Jinx Kaley But it does sort of tie in as we continue to talk about the markets where fascinating a BOE that is saying okay we hear you vary in but I see inflation then you have an ECB that says I see inflation but I really hear you variant And it really is that push pull in the market and at least for Federal Reserve thinking about an inflation story that is the bigger story I mean just looking at the dot plot that those updated.
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"And what's transitory and what's not because you're starting to see a lot of corporate America the example I gave last week was that bath and body works is sourcing 80% of their material Right here from home That's right And they're adapting and that might be why you're starting to see some things loosen up Pushes forward then just a little bit to sort of the end of the year You talked about bath and body works How we're thinking about the retail season I went to a few stores this weekend shelves are relatively stocked I thought it was going to be totally empty How are some of the retailers thinking about the consumer and inventory levels Right And you know what what strikes me about that image Is that when I was thinking of holiday shortages that we've been talking about Bloomberg TV and Bloomberg radio for years what seems like it has been two years almost I was picturing kind of the image of during the pandemic when things were flying off the shelves And that's not the case to your point Taylor Basically what you're seeing instead is that they're so prepared that you now actually have to really meet those levels So my question I think is what you're going to see in earnings season for January It really when you say did you get rid of all the inventory that you've been building up Because imagine if you have some of these retailers saying well we didn't sell all those goods that we were expecting to at a time when you start to see some of the fiscal stimulus fading and some of that sentiment fading as well I be interested to see if the retailers have come out some really strong numbers for this third quarter and talking pretty upbeat about the holiday season Pretty good the market correspondent for Bloomberg news joining us here We'll chat with creating the next hour on the small cap stocks Right now let's head down to Washington D.C. world and national news with Nathan Hager Nathan Well Paul it is the story of the day President Biden is going with continuity at the top of the Federal Reserve nominating Jerome Powell for a second four year.
Bloomberg Radio New York
"bloomberg tv" Discussed on Bloomberg Radio New York
"Off 50 states anyone else consumer executive order number 30 30 One of the other reasons why it's so important to get those child care provisions through is that's also going to help with inflation We got a lot of people who are unable to return to the labor market because they can't get child care that is a drag on our economy and it's one of the things that's creating upward pressure on prices It's the continued push down in Washington D.C. in this country right now The transportation secretary Pete Buttigieg there from New York City this morning Good morning alongside Lisa Bradley I'm Jonathan Ferro together with candy lines Tom Keane is back with us tomorrow morning Your equity market is up at 20 Let's call it up 21 Advancing four or 5 tenths of 1% all time highs in this equity market to start a brand new trading week four weeks of gains into the treasury market up three basis points on tens to one 58 38 The repricing kit all about the front end of the curve at least to whether it's the UK Australia or the United States for America We're heading in one direction higher It's been a massive repricing of rate hikes to sooner This idea of a hawkish dawn as we talked about last week from John authors column but I do wonder how much freedom central banks actually act on this given the fact that risk markets are not faltering I still don't know what to do with the makeup of that How much of a big deal do you think we should make of Goldman coming out at Sam first time to life next year considering that's where the market is It's capitulation to what people are thinking more broadly What does the fed do with this And I keep going back to the idea of the employment cost index rising to the degree that it did that gives a lot of power to the fed to say all right maybe we ought to tighten a little bit sooner You're gonna be a very interesting me too It takes place this week with a news conference with chairman Powell as well We'll take that special coverage as always right here on Bloomberg TV and radio A report out from The Washington Post and the last hour or so Let me read you the lead paragraph Treasury secretary Janet Yellen on Sunday said Democrats should be willing to approve a fix to the nation's debt ceiling without GOP support if necessary Joining us now is Emily Wilkins down in D.C. on Bloomberg government reporter Emily you'll take on that report in the last hour So secretary Jenny Yellen seems to be willing to say what I think a lot of Democrats are thinking but don't want to go public with yet that if Republicans don't come along with Democrats they are going to have to do this via reconciliation because they're going to need to raise that debt ceiling It's going to be much much worse for them if they do not Senate minority leader Mitch McConnell the Republican from Kentucky He said repeatedly that Republicans are not going to be joining with Democrats on raising the debt limit long term that it's something that Democrats are going to need to do on their own Secretary Yellen seems to put two and two together and say hey that means we're gonna have to do this through reconciliation Another reminder it's not that Democrats can just snap their fingers and get reconciliation done This is a process that takes multiple weeks Right now they're potentially looking at a December 3rd deadline although they could use extraordinary measures to extend that into 2022 But if Democrats want to address it before the new year they might need to start that process in just a few weeks Emily I love this quote from Jenny Ellen I don't want to play chicken and end up not raising the debt ceiling That seems to be the game here There has been a shift in Washington recently perhaps it's a reality check that we have seen But perhaps also is a little bit more cohesion among Democrats as they do work to get some kind of vote this week Is that real I mean you are seeing Democrats come together I mean at the end of the day Democrats are very much aware that their party stands to benefit from this package being passed and that without it they are looking at a potential bloodbath for those 2022 midterms And so you are seeing progress being made You have seen them come more together Of course they're not quite there yet They were initially teeing up for a potential vote in the House on Tuesday on both that bipartisan infrastructure plan and the social welfare and tax plan That vote not so much likely to happen anymore but still could happen before the end of the week Remember next week both the House and Senate are scheduled to be back in their districts not in Washington So it does set up a little bit of a deadline Another important element here to remember on timing if the house does vote this week on both of those bills the infrastructure Bill is going to President Biden's desk for his signature but the social spending and welfare Bill then heads to the Senate where it needs Senate approval And it could very easily go to the Senate get some tweaks go back to the house This process could take until the end of the month Perhaps even longer Emily is this enough for the Virginia gubernatorial race that really is tomorrow as President Biden has been stumping for the democratic incumbent and yet has been losing popularity This is not what democratic nominee Terry mcauliffe wanted at all He wanted a bill to pass He wanted the infrastructure bill to pass He is in a very very tight race in a state that President Biden won by ten percentage points And that's not really where Democrats want to be right now Analysts are saying even if he does wind up pulling off a win on Tuesday this is gonna be something where they're gonna have to go back and really analyze what went wrong here And so Terry mccaul if it was sort of this last minute hope for a win hope that there could be something more that he could claim.
Bloomberg Businessweek
Chip Shortage Hits GM, Leads to Production Cuts
"Get back to Tom Doll. He's president CEO over its Subaru of America still with us on the phone from Subaru headquarters in Camden, New Jersey. So, Tom, let me ask you. I'm sure you've been asked about it many times. And I was I did watch earlier when you were joining our Bloomberg TV colleagues this GM story today, saying that they have some chip shortages and then it was hurting it. You guys you've been doing okay? So far we have been yes, it is going to affect us at some point along the way, but we know that through the first quarter of the year March, it's not going to impact us all that much. Now we're still waiting to get Information from our suppliers about how it might affect us as we get out into April and may in particular But we're hopeful that the impact isn't going to be that much. What's going on. It's a good question. You would think that there'd be enough supply, given the fact that he's like trying devices inside G devices that people are saying is the cause of the shortage of people who are purchasing these things well before the pandemic started. And then coming out of the production was actually for us was very strong and we could get really all the chips we wanted through the period until probably early part of December, and that's when we first started to hear about this potential for a chip shortage. So I know they're working with our suppliers all over the world to try to figure out Where we can source additional chips and I'll be honest with you. I mean, it seems to us anyway, The situation seems to be getting better A supposed to worse, but I can't speak for all of the other manufacturers. I can only kind of speak from us, right? Right. I do have one question though. I'm curious. Are you concerned or could it lead to higher prices down the road, Potentially Specially. There are shortages. I mean, it could be depending upon what the chip manufacturers do with their pricing. We all have pricing contracts with the chip suppliers. But in a situation like we're in, and if you've gotto somehow find another source for your chip supply, there could be increases and chip prices, But we're not at this point forecasting any Significant increase in in prices as a result of the chip shortage well, and it's interesting to you know, we've been talking a lot about kind of the chip industry. I feel like Tom over the last year. I mean, I look at my car. It's so much a piece of technology in the amount of, you know, technology that's in it running in. And as you move towards, you know, evey is it becomes I feel like even more So, um Do we need to as a world as a country kind of look at our chip supply chains more closely, and maybe even as governments being much more active in terms of those businesses and making sure that everybody and anybody who needs them has access to them. They're they're clearly a vital aspect of our vehicle production. There's no question about it because they're in so many different components there in our head units there in our engine control modules. We're in a lot of the advanced safety equipment that we provide. So I do believe that it is something that governments need to look into that. Make sure that there's a secure supply of these chips of that manufacturers such as ourselves, don't get caught in a situation where you can't supply an adequate number of these chips that would meet supply on meet demand, because You know if it's manufacturers aren't able to get these ships and literally does stop the production because you can't produce these vehicles and then insert the chip later, the chip has to be inserted into the device before it gets put into the vehicle. So it really is something that you know, can really throw a wrench into the whole production system. So where it is something I think it needs to be examined and looked into.
Money For the Rest of Us
Is Silver the Next GameStop?
"Yesterday. Silver prices hit the highest level in eight years to over twenty nine dollars and fifty cents per ounce the london bullion market association which is the silver market said that more than a billion ounces of silver was traded. Yesterday it's three times greater than the average from the end of two thousand twenty can louis c. of app max which is a dealer in precious metals coins boy in bars said yesterday on bloomberg tv that they had more volume in silver sales in the past three days than they had all of december and forty three percent of those orders from new customers were. Typically it's only fourteen to twenty percent of orders in a given day are from new customers. Adrian ash is director of research at bullion vault which also sells silver. Bullion said they had more customers yesterday than all of last february. Why is there this sudden interest in silver last week. We discussed wall street bets. The sub reddit and what was driving the price of game. Stop and other memes stocks. There were some post last week on wall street bets about silver being the biggest short in the world but there's post on all different types of topics but some of those posts because they're voted on in this forum made it to the top and then news organizations pick it up that that the wall street bet sub read. It was now focus on silver but then some on wall street No they're not promoting silver that there are proponents of silver taking advantage of the forum. So there was a lot of confusion over. Who's driving this increase in silver. But clearly it's happening. One commodities trader said about wall street bets that i'm beginning to think that they are being suckered by the silver scammers to try to get the price up today when i looked at wall street bets. There wasn't any of the top articles on silver. They appear to be a couple about diamonds but most was on gm's stock which fell over fifty percent this week here. We are with silver having spiked to its highest level in eight years. Today it's down to twenty seven dollars per ounce but the sudden interest news gives us an opportunity to look at silver the investment case for silver. And should we buy silver now. There are two primary ways to buy silver by it physical including coins or bars. We can also by silver through an exchange traded fund like the shares silver trust which owns physical silver or we can participate in these silver futures market. And we'll talk about how that works. A lot of these news articles reference. Some of the post on wall street bets about how silver is the biggest short in the world. And there'll be a squeeze and we're going to stick it to the banks that are short but still i really different than the short squeeze on game stop or some other stock like i talked about last week where you had hedge funds that were massively short game stop. There were more shorts than shares outstanding. And when the stock started to rise those hedge funds needed to buy back game stop stock so that they could close out their short position and stop losing money but if we look at the positioning of hedge funds and other speculators in the silver futures market. They're actually net long in other words positioned for silver to go up in price and they have been net long since two thousand nineteen. The natural times reported that analyst said bullion banks has hsbc and j. p. morgan did not have speculative naked short positions in silver. In if anything would make money by selling silver to exchange traded funds in helping minors hedge exposure bernard data an analyst texas that it's the wrong understanding of the market. It's trying to apply the same. Rationale is game stop but most of the market is long silver. The banks are going to make more profit and the silver buyers are indirectly sending their own money to them
Bloomberg Businessweek
Johnson and Johnson says single-shot COVID-19 vaccine is 85 percent effective
"What's going on. When it comes to Cove in 19, and more specifically, Pursuit for more vaccines because we've got some big news from J and J Today. In fact, it's our top story on the Bloomberg In the past hour, Johnson and Johnson's one shot vaccine generating strong protection Against covered 19. They did him a large late stage trials, raising hopes that it can rapidly reshape US stumbling immunization campaign. We know the role. It has been really tough, but you've been pointing to the numbers preventing 66% Moderate to severe cases of covert 19, according to the company. Particularly effective stopping severe disease is preventing 85% of severe infections and 100% of hospitalizations and deaths. That's the number you've been focusing on. And it's a big one. All right, let's bring in our guest post op pulls his vice chairman of the executive committee, a change a also chief scientific officer at J and J and he joins us on the phone or actions should say Zoom. From New Brunswick, New Jersey. We also do want to welcome our Bloomberg TV audience. Who is joining who are joining us at this time? Um, Paul, it is so nice to have you here with us. First of all, Thank you so much and welcome. Talk to us about the findings. There's some difference statistics in terms of the efficacy. What is it that we need to zero and in on and what's really the most significant your view? So we did a very large study of 45,000 people in the US South America in Latin America in a totally different environment, where now huge transmission but also many variants or presence, and what we saw is that in the high in the severe disease We got a very high protection 85% against severe disease as well as 100% for death and hospitalization, and that across the entire study, including the South African study, and why is that important? That's 6000 people in South Africa, and we found that 90% of this train spread inside African strains, and we got even a better we got from 89% perfection in South Africa against the severe disease that 100% against hospitalization and other begins percent against that, so that shows that the vaccine is applications in in severe disease. Smell us against significant new strains. Given the results of this study, do you expect new and even more powerful variants to emerge in the future? Yeah, we have to stay very vigilant. There's so much fire a virus replication in the world. And now new vaccines being used and the virus is following the Darwin principles. The fittest survive, and they will take over as in in that race, And so you will see probably more variants. But strong immunity, antibody immunity and so immunity probably can overcome that. But we have to stay very vigilant and we have been able to do that with a single does, and I think that is going to be very effective in faster allowed as we are making a billion dollars in the course of the year. Well, let's talk about that. Because when you talked with our David Westin last fall, Paul, that's exactly what you talked about A billion doses you anticipated for 2021. So that's a real number. You expect it And can you give us an idea? That billion dose roll out. What does it look like over the next few months? So at the moment we are, we are setting up many of manufacturing plants in late stage. We are getting approval from different regulators in the world on that, so it's in full upscaling. And as we will deliver a billion over the year, it will be region by region, country by country. We work with the government to discuss on how much will be available when it will come in equivocator, but we are confident that we will be able to make Provide a billion in the course of the year. But what does that mean that? I mean, obviously, you've got get the emergency approval. So give me an idea of what the timeline is. I think we're all kind of Fixated on getting the vaccine so that our life can get back to normal. So what does the emergency approval process look like? And then when you actually anticipate getting vaccines into arms, and then at what rate Them so we will submit a filing next week. So we know that the data now for three days, we We worked on it that we finalized. That's what we published today. Next week will submit And then the FDA and Emma will have to do their work. The European fella to use a U. S agency will start their work and most likely towards the end of February will have an advisory panel bending of course decision off the FDA and then we'll see getting approval. Emergency use approve. Full and then in March will be able to start living vaccine. So you think a realistic timeline for us to actually receive Johnson and Johnson single dose vaccine would be March? It will start in the month of March, but they're also with US government. We have made an agreement over this off for several for 400 million vaccines to start with, I will keep up to that agreement to be able to deliver that. I'm wondering how you see this shot being used in the context of this is you call Pandemic Recovery tool kit, you know, especially fitting in with the Amarna vaccines that we see from during a and Fizer As well. The rollout of those has has been really tough here in the United States. There's been a lot of speed bumps, but you don't have to keep this one at a temperature for very, very cold temperature for a significant period of time. I mean, they're a lot of differences here. How do you see the rollout working in the context of these other vaccines? Well, it's it your point of the right thing. It's a single dose. So it one shot. You get this protection starting day 14 and and if you know, mature, said 28 even lot longer, so that goes fast. And then it It has to do it Celsius, which is normal refrigeration temperature for stability for three months so we can distribute in the country at normal refrigeration, which allows to get fractionated almost in every health care center pharmacy in a very simple way s O and that that will help and the single shot combined with that. And a high efficacy poor for severe disease. That hospitalization can have a very important effect. In addition, very short, very clean safety profile we have. We have not observed serious adverse events. No, an electric shock so further to be evaluated by the regulators. But that will also be an attractive feature with the very favorable safety profile. So that means that people who perhaps have not been in who had been advised against getting Marnie vaccine, This could be an option for them. Be an option, but it will be determined by the authorities who will get access first as this is emergency use application. It's ah, it will be distributed by the government. Hey,
Mac OS Ken
Apple sued for not removing Telegram from App Store over violent content and hate groups
"An interesting turn in an interesting case. Piece from berlin. Cider says the group coalition for a safer web and former us ambassador to morocco. Marc ginsberg filed suit against apple late last week for not kicking the messaging app telegram out of the app store. Ginsburg isn't just a former ambassador. According to his wikipedia page he served in a couple of positions during the carter administration before that he was a legislative assistant to senator. Ted kennedy the also worked on bill clinton's campaign and ninety two and al gore's campaign in two thousand and he's been a foreign policy and national security contributor to cnn cnbc bloomberg tv msnbc bbc allow arabia cbc and fox news as for the coalition for a safer web. The organization's website says he s w was a nonpartisan not for profit advocacy organization whose mission is among other things to promote new public and private partnerships to facilitate the expeditious removal of extremist and terrorist incitement and instruction content from social media platforms additionally cs w dedicated to restricting extremists access to internet infrastructure support companies vital to their dark and deep web operations. Basically what happened with parlor would be right up. Cs ws now. They'd like to see happen again to telegraph like parlor before it. Cs w argues that telegram is being used by hate groups and extremists to attack the capital further. The organization says apple knows that telegram is being used to intimidate threaten and coerce members of the public according to apple insider. There is also the accusation that anti-black anti semitic groups have openly utilized telegram with little or no content. Moderation by telegrams management despite the cs ws warnings and media reports about the app. Cbs w argues that apple has not taken any action against telegram comparable to the action. It has taken against parlor to compel telegram to improve its content moderation policies by not doing enough to moderate activity on its own app. Cbs w says telegram is in violation of apple's terms of service. Just like parlor and just like night. Yes they went there but instead of taking it up with telegram for some reason. They're taking it up with apple. Well they're taking it up with the courts to take it up without appleinsider says the demand a jury trial and asked the court to provide compensatory damages to each plaintiff and injunction to be granted prohibiting telegram from the app store until it complies with apple's guidelines and legal costs
Mac OS Ken
Apple Announces Remote Work Until 2021
"The same day that apple reported surprising third quarter numbers announce afford for one stock split and started another historic run up in the share price. On the same day that all that great noise was being made. Apple quietly told office workers C. next year. A very short piece from Bloomberg Apple CEO, Tim Cook appearing on Bloomberg, TV saying, we've kicked time period that US employees would come back until early next year. To go beyond that, it would depend on the success with the vaccine success with
Stansberry Investor Hour
Millions of farm animals culled as US food supply chain chokes up
"Tyson chairman. Ceo Tyson Foods wrote a letter on Sunday and he basically alerted the country of an impending shortage of meat and by Association. We just took this as an impending shortage of food because we can affect the production of meat can affect production of all food right. And I'll just quote you one little passage. That kind of sums up the the problem here and Tyson wrote farmers across the nation simply will not have anywhere to sell their livestock to be processed. When they could've fed the nation millions of animals chickens. Pigs and cattle will be depopulated because of the closure of our processing facilities and quote so these are essential businesses. These meat processing facilities. But they're closing them because people are getting the corona virus. They're getting sick so they had to close them and they closed a bunch of them. So you got all these animals that are mature and ready for slaughter and there's no place to send them. So what do they do? Well depopulated is you know. There's all these euphemistic terms youth Asian and depopulation. They kill them without eating limits. What happens there wasted and you know I I mean I have a soft heart for animals. I'm no vegetarian. Okay but we bring these animals into the world and raise them up and care for them so that we can eat them and it's tragically sad to see them killed without being eaten. It makes their lives. You know it's like they lived and died in vain. I watched a Canadian farmer on Bloomberg TV Monday morning openly emotional talking about this and talking about having farmers having to euthanize thousands of animals at a time. It's it's terrible. He was more concerned was more than just the lost revenue and investment. Although that's you know that's a big impact too. It was just the thought of all these animals as I say having lived and died in vain. It's it's heartbreaking you know and these are essential businesses and yet they're still having to close down because people getting a virus and Tyson said. This is the thing that got me. He just said the food supply chain is breaking. The food supply. Chain is breaking. That's scary you know you and I were know. We're big time investors or whatever. We got plenty of money in our 401K's or wherever you know we got resources we can tap and if things cost a little more expensive we can probably still afford it but poor people who don't have anything to their name. They won't be able to afford and they won't be able to get. Those supplies will be gone from the stores. Anybody you can get. It will pay a fortune and people are going to start getting hungry. I I'm afraid you know. At first people will say OK. Well here I am poor. I don't have a penny to my name. Put yourself in their shoes. What are they going to do? They're going to be like I'm GONNA steal this. I'M GONNA get food any way that I can. That's bad enough but my fear is that this goes on and on and on and the government doesn't let us go back to work soon enough and then we start seeing like mass violence. You know.
Marketing School
What Happens When You Spend Over $100 Million a Month on TV Ads?
"Have to do is go to dream. Host DOT COM slash marking school to learn more and get your website online today. Welcome to another episode of Marketing School. I'm Eric Su and I'm Neil Patel and today we're GonNa talk about what happens when you spend over one hundred million dollars a month on TV ads so eric. The presidential elections are happening right now and of course already know but I'll get. He's spending the most money by. It's so crazy he's like on TV like every minute ad on facebook everywhere. Got memes to everything yet. They literally say spending one hundred something million a month on TV ads which is a lot of money but funny in upper him. It probably. Isn't that much it's worth while fifty billion or something ridiculous like that. Yeah so it's interesting because what I'm doing right now is being like Bernie Sanders. I'm using Google trends and like Elizabeth Warren. So what's interesting is Bloomberg is kind of he's rising up and he's actually because of all the spending although wariness he's rising above Elizabeth. Warren Elizabeth. Warren was way higher. Bernie is still really high but Mike. He's catching up. Yes so he ended up becoming the number three candidate really quickly at least according to real politics and then and they did like some live debate in Nevada. I didn't watch it but his numbers started going down guessing because people didn't like how he performed but Bloomberg TV. Exactly how Bloomberg performed by the TV ad Lou nothing to skyrocketing. Yeah everyone can take a look at facebook libraries while and you can use a tool like advocate to see what else is going on from Google display perspective. But I'm also I just added Donald trump to google trends as well and you know president of the United States. But if you look at the month of May be the last week or so. The three of them were looking at Bloomberg. Were looking at trump. And we're looking at Bernie birdies way higher but trump and Bloomberg are actually pretty close to each other so I found that to be fascinating and Bloomberg. We'll see what ends up happening as he spends more and more money but so far it's done quite well for him. Yeah so I think the key takeaway here is at the end of the day. You're trying to build a whereas what I would say. I think the mistake that's happening right now. As we go back to trump's message make America great again whereas you know you had when you had Hillary Clinton and by the way neal not political we're just looking at it from a marketing perspective but I think Hillary's message was I'm with her was so is your message memorable right now. I don't know what Bloomberg's messages do you know what it is. I just know his messages. He spent a lot of money. I have no idea what he's trying to convey that he wants people to vote for him. But if you look at the guys just spending obscene amount of money the one thing though that I think he's GonNa Struggle with is when you look at his TV campaigns at. I'm not trying to again. Erica. I'm trying to be political here. But he's just not as relatable. Yeah so I mean I think he actually talks about his business success. I mean that's not very related. What you have to have a message right so I'm looking at his ads right now. So it's like it's all over the place so you're spending all this money you spend one hundred million. You're spending on ads. Tv ADS everywhere. One message says help us beat trump and it talks about him. Bloomberg versus trump right beat trump. The other message here is get free buns and support gun safety. Another one here is an urn pathway to citizenship and then all a lot of it's talking about trump here but is that what most people care about or do they care about making America great again. Trump's message is going to be. But you gotTa have something that people can kind of a simple message a and something that people can get behind right not like. I'm looking at his other messages here. Mike has what it takes to win. Like dude who cares. Yeah and then some other messages were how his mother was a bread winner and then how he built a multibillion dollar company and employed all these people the employment is great but talking about how you build a multibillion dollar company. I can't relate to that right To create a multi billion dollar. We would like to know we would like to know a Bloomberg wants to help us do the same. You know. We're all open. Yeah in other words. A big lesson here is T- can end up buying you a ton of press with SEO content marketing social media. It doesn't matter what you do. If you spend money on marketing you can get a ton of awareness. But if you're messaging isn't right and you can't figure out how to relate with people. It doesn't matter how much money spend. You'RE NOT GONNA succeed. Yeah everyone really recommend look at the facebook guide library. It's literally the problem sometimes is when you get to fat with the money. With Ad. Budget people are going to come up with all these RANDOM IDEAS. Parkinson's law to try to fill up the space and I think right now is just.
BBC World Service
US, Mike Pompeii And Bloomberg TV discussed on BBC World Service
"On the last few weeks we've been bringing you developments on the rising tension between the US and Iran and specifically in the area of the strait of Hormuz now the U. S. sexiest stage Mike Pompeii says he's willing to go to to her own he's been speaking to Bloomberg TV saying quote I'd happily go there I would welcome the chance to speak directly to the Iranian people last year Donald Trump pulled out of the Iran nuclear deal which had been designed in twenty fifteen under Barack Obama and since then the US has imposed new sanctions on Iran maintaining that Iran is hell bent on building nuclear weapons treaty Parsi is the former president of the national Iranian American council was he surprised by the statement no not at all I mean this is part of the game that the trump administration is playing on the one hand they are conducting economic warfare on the other hand there pretending at least home pay in Boston are pretending as if they're interested in diplomacy I would advise you to take a look at the report that Bolton road a couple months before going into the administration in which she described the strategy he would pursue when which one element would be this pretense of seeking diplomacy while in reality pushing for economic warfare part of the reason why Pompeii always making these statements is in order for the rest of the world not to fully recognize the degree of the aggressiveness of the policy that they're pursuing vis a vis rod and out there pushing for that the starvation of the country as a whole rest assure if the tables were turned and the raw onions were violating the deal walked out of the deal were trying to punish countries that try to adhere to the deal and they said that they want new negotiations no one in this world will take them seriously it's a shame that some people seem to think that there's some degree of seriousness when Pompey was making this claim mindful of the fact that my flow how the trump administration has behaved that said tree Parsees reading of that statement by Mike Pompeii that he would be willing to go to to her on he's the president of the national Iranian American
Bloomberg Daybreak: Europe
Trump accuses Europe and China of manipulating currencies
"I believe you're going to see a movement into emerging market bonds because people will be able to get back to interest rates that's what mark modus the veteran EM investor has been telling us in a Bloomberg TV interview today well it carries the weapon has been on the table for a long time and as you know the Chinese have use that weapon it's interesting that maybe in preparation for this reason meeting the Chinese allow their currency to get stronger against US dollar that sort of I think ease tensions somewhat but the US is a very difficult position because the US dollars not a U. S. currency it's a global currency so there's very little in the U. S. particularly the fact that the fine reserves of the U. S. got it out that great so very difficult for them to do anything about the currency is because other countries can control their currencies China controls because he's very closely the Europeans can do it other countries can do it so I think the only thing the US can do is jawbone the other countries into easing up on there a weakening of their currencies log good morning to you it's managed in to buy if I look at the context of what's going on in market some people are sort of saying what what heading slightly and rationally exuberance times what would you say from the E. M. perspective is it under pricing escalation of trade angst between China and the United States of America I don't think it's on the pricey I think these it's out there the risk is out there everybody is aware of it I just returned from a five city tour of the U. S. everybody we talked to us and asked about the time the US trade war so they are very aware of it but there are other factors that a how overwhelming on the positive side that is interest rates interest rates are so low as you know in Europe is negative and they going down in emerging markets which is very good and as you know low interest rates in the U. S. house emerging markets a lot so I think that's really what's driving a situation and also don't forget liquidity is increasing a lot of people of overlook the impact of crypto currencies I believe the increasing crypto currencies means is an increase in global liquidity which cannot easily be measured so you are of course an emerging market expert mark I I'm curious there's been a chorus of people who are talking about how developed markets are starting to resemble E. and a little bit more I I remember after trump was elected for instance we had S. and P. standard and poor's basically saying that they were no longer able to separate DM economies from EM based on the strength of institutions is that something that you're watching or something that you would agree with I yes it's a very difficult problem I mean just think about it Ali Baba wizard listed to use company this is in the U. S. isn't emerging market company or not so these are the issues that are really it's very difficult to untangle but the reality is that if you separate the countries the emerging market countries and they develop market countries of what we normally think of China India South Africa Brazil those countries they are growing at double the rate of the developed market countries so the argument for emerging markets still out there but now it's even becoming more say in because there's so many people have gone into ETFs so everybody's sort of index they're tied to the index to the big stocks and they're asking Hey maybe I'm taking too much risk of being with this crowd as in the big stocks maybe I should go into a more actively managed fund or an emerging market fund which will give ME versification so I think that's what's happening now that was not maybe this of maybe as capital partners they're speaking to Bloomberg Marcus cranny and Tracy Alloway earlier this morning really interesting some of the lines he was coming up with them at one eight two Steve talked about in a really putting out there into the chance the Brazilian rail south African rand I mean this is a show yeah and he would like to talk about carry trades and he was saying if you want to take a chance so you know that there's a big cap yeah added to that but look when it comes to the big decisions and the fed he was talking about two US interest rate cuts this year and that the longtime EM growth is very very good so that was that's a month may PS into view speaking to back this
Bloomberg Daybreak: Asia
New Zealand's PM Jacinda Ardern is on a climate change crusade
"Ozzie an says climate change now is a major issue Zealand an mechanism to establish targets set in Jill beyond political cycles through zero carbon. We're working on that at the moment. But in the intervening period would seen we striving towards cabin neutrality by twenty fifty and the prime minister exclusively on Bloomberg TV she says, she's also watching China's growing influence in the Asia Pacific as are other nations there as firefighter fighters slowly gained more and more control of the California fires in the north. They have released a list of about one hundred people are still missing many in their eighties and nineties with dozens more unaccounted for forty eight dead there fifty-one statewide now 007 actor Pierce Brosnan is one of the people waiting to hear the fate of some seventy three thousand structures including his in danger. I have witnessed many phase in my community. And
BTV Simulcast
Donald Trump, US and Sweden discussed on BTV Simulcast
"Hundred sixty seven billion dollars worth of Chinese goods, if he falls through total levies would more than cover the value of all goods, the US buys from China. According to government data from last year. Sweden votes today following a turbulent election campaign establishment parties
Bloomberg Daybreak: Europe
Asia slips after U.S.-China trade talks end without progress
"In London I'm Markus Karlsson with, this Bloomberg radio business flash the lack of progress in US China trade talks weighed, on Wall Street last night's and that sentiment has been spilling over, into Asian, equities this morning the dollar meanwhile rebounding after the ousting of, Markham Turnbull as prime minister Scott Morrison is in. Instead And we. Are as I say, seeing the alsi arising on the back of that. Australia's Hsieh's also went from. Negative into positive territory on that news with the ASX two hundred in Sydney gaining about a third of one percent we've. Also seen Asian shares overall go from negative into positive territory the. Asia Pacific index now higher by about eight tenths of one. Percent back trade issue as I was saying audio sort of set. The, tone in the morning part of the Asian session we. Are still seeing some losses though for, the Hang Seng
Bloomberg Daybreak: Europe
OPEC Works Toward Oil Deal as Iran Sounds More Conciliatory
"Oh called recent trade developments incredibly disturbing while the oj governor haruhiko kuroda echoed that sentiment recall that this condition could be rescinded normal trading relationship between the us and china would prevail speaking of china they have reiterated than it is fully prepared to respond to any new list of us tariffs on its exports a commerce ministry spokesperson also said that the nation will use a combination of quantitative and qualitative measures at the same time they djing has announced that it will hold a trade summit with the european union on monday and the us commerce secretary wilbur ross will be on bloomberg tv software midday uk time and of course manatees over in vienna because there's an opec meeting taking place the chances of opec reaching an oil production deal have increased out iran edged away from threat to veto any agreement that would raise output saudi energy minister kelly del farley says every minister he spoke to agrees that it's time for the group to change course converging towards a good for the decisions that please i'm not wrong stakeholders within the oil industry countries companies but also our consumers that was the saudi energy minister khalid al folly speaking to reporters in vienna well in the uk prime minister theresa may has founded off a rebellion from within her own conservative party to win a crucial brexit vote the fight was over whether may should have the power to take the uk asia the eu without a deal the rebels wanted parliament to have a meaningful vote on the way forward now sticking with the uk the bank of england is expected to keep interest rates on hold when he's announced his latest monetary policy decision in london today bloomberg's uk economy reporter jill ward has the preview any indication in the minutes of the meeting as to how policymakers interpreting a mixed batch of recent economic data as well as their thinking on a potential rate hike in august will be closely watched markets are pricing in about a forty five percent chance of a rate hike in august and investors still see an eighty percent chance of a quarterpoint increase by the end of the year in london joe ward bloomberg daybreak europe before the bank of england will get right decisions from switzerland's snb and from norway we'll bring those to you here on bloomberg radio.
Bloomberg Daybreak: Europe
Trump Approves Tariffs on $50 Billion of Chinese Goods
"Here on bloomberg twelve forty five uk time forty five minutes later of course we get the press conference with mario draghi but not the latvia central bank governor i just looking at that we're looking at head to next wednesday as well these before when sintra portugal mario draghi speaking alongside his counterparts in the nba or that moderated by bloomberg's head of economics stephanie florida's what it live on bloomberg tv can listen to it on the radio of course and you can find it on life go about delay in riga it's like the latest installment of the hangover there's something hidden there for the latest in global news marcus causes thanks very much malky us president trump is talking tough on china again promising to confront the country over trade in the coming weeks bloomberg's andromeda says beijing should be watching the president's comments closely it quite possible he's talking to his domestic base i mean certainly that's a consideration but i do think that china has something to worry about i think that the president has a preference for terrorists and i think at this point it's gonna take a lot to knock him off of this past the white house says it's pushing ahead with plans to impose gt's on fifty billion dollars worth of chinese goods meanwhile the us secretary of state has offered reassurances following president trump's historic meeting with north korea's leader mike pompeo says sanctions will remain until the country gets rid of its nuclear weapons kim jones public amendment to completely denuclearize as an important step towards bringing lasting peace and stability to northeast asia and indeed to the entire world as the president said this will be a process and not an easy one pompeo spoke after meeting with his south korean japanese counterparts and has now traveled on to beijing the french presidency has confirmed montereau mccall will meet with italy's prime minister just pay contact tomorrow if all is speculation the meeting maybe called off amid an escalating row over a migrant rescue ship tensions arose when paris criticized italy over its refusal to grant access to the aquarius that's been carrying around six hundred people rescued in the mediterranean and fierce fighting has been reported after yemeni forces and their saudi led allies launched an assault on the rebelheld city of who data bloomberg's glenn carry reports that could dramatically exasperate the humanitarian crisis without tipping the.
Bloomberg Markets
Fiat Chrysler to phase out diesel by 2021
"Us employers extended a streak of solid hiring in may adding more than two hundred twenty thousand jobs unemployment rate now three point eight percent facebook says it shutting down its trending news section because it's outdated and unpopular 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 martin now with our other top stories i'm schneider bond market billionaire bill gross blames his big loss this week on italy grossest janice henderson global unconstrained bond fund fell three percent on tuesday that was its biggest one day decline in almost four years he tells bloomberg tv the reason was a widening gap between us and german bond yields triggered by nervousness about italy's political situation fiat chrysler ceo sergio marconi is claiming victory bloomberg's gina cervetti has the story in his last big presentation as ceo of fiat chrysler before retiring next year mark yona said today that the italian american carmaker will this month hit its long held goal of having no debt as it turns its focus to making more electrified cars as he announced the company's five year plan mark yanni broke with personal style and donde tie instead of his signature sweater as he said he would if the.
Bloomberg Daybreak: Asia
Buffett proposed to invest $3 billion in Uber, but talks failed
"Bloomberg daybreak asia to next and word that billionaire investor warren buffett tried to put more than three billion dollars into the company what happened let's find out from bloomberg's denise pellegrini we're being told buffets proposal is reminiscent of his winning bet on goldman sachs during the financial crisis buffet invested five billion dollars in goldman following the collapse of lehman brothers in exchange he got preferred stock that netted more than one point six billion dollars and warrants that produced an even bigger game but we're told uber ceo proposed decreasing the buffet deal to two billion dollars to limit buffet stake in the ridesharing company buffets marketing position may have been weakened by that massive cash infusion uber got from japan's softbank in january denise pellegrini bloomberg daybreak asia we'll tensions between china and the us arising ahead of asia's biggest security conference this week at baxter is covering all the global news in our bloomberg nine sixty san francisco newsroom ed yeah right shar juliet us fence secretary james mattis saying he was planning on raising concerns about china's continual militarization of the south china sea china on the other hand warning the us against expanding defense with taiwan now former secretary of state james baker says china he's on bloomberg tv says china is the us toughest challenge in emergence as a geopolitical actual superpower she's already an economic superpower as a political insecure each and china is taking on donald trump on his changing policies as well joe maze young who's a spokesman for the chinese ministry of foreign affairs says when it comes to the international relationship every flip flop and you turn of a country will be simply depleting and squandering its own credibility meanwhile preparations for what the white house is calling the expected expected now they're saying summit between kim jong un and donald trump continue as one of the north korea's leader kim yong has arrived in new york he flew from beijing by the way white house spokeswoman sarah sanders says the issue here is very clear conversation is going to be focused on denuclearization of the peninsula that's what these ongoing conversations taking place now will be centered on as well as this summit that would take place in singapore so kim.
Mac OS Ken
Apple CEO Tim Cook Interview
"You know who else was talking about apple services on tuesday apple ceo tim cook bloomberg ran highlights of an interview cook did for bloomberg tv the biggest news from that interview was cooks assertion that president trump's tariffs on some chinese goods was the wrong way to go something he told the president last month i felt that tariffs were not the right approach there said cook and i showed him some more analytical kinds of things to demonstrate why that wasn't a ceo's only point of disagreement with commander in chief quoting bloomberg closer to home cook said he asked the president to find a resolution for undocumented immigrants who were brought to the us as children lawmakers of so far failed to negotiate a legislative replacement for the obama era deferred action for childhood arrivals program that spared dreamers from deportation where only one ruling away from catastrophic case there cook sad cokes not completely odds with the oval those corporate tax cuts signed into law last year yeah the of the most valuable corporation on the planet is rather fond those quoting the peace again cook set up a will jack three hundred fifty billion dollars into the us over the next five years through tax payments hiring a new campus and thirty billion dollars in capital expenditure we're also going to buy back some of our stock because we've you are stock is a good value said cook adding it's good for the economy as well because if people sell stock they pay taxes on their gains.