27 Burst results for "Bruno Lemaire"
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"The finances because we know that the CBI at one point was Britain's most influential business group until it was thrown into crisis this year by a workplace misconduct scandal which led to this mass exodus of corporate members and also a lot of like I at said the frozen out of ministerial access so things became really increasingly difficult for the CBI so the Times reports the CBI is seeking emergency funding from their members while it explores a continuous merger with Make UK which you also spoke about so the long and short of it business lobby group trying to raise three million pounds HSBC is encouraging members to support the drive HSBC not commenting on this yet but it looks like this long -delayed annual yearly meeting is going to go ahead on Wednesday and we'll know more then okay let's go to the Telegraph next Leanne which is reporting on plans for new regulation of deep fake videos online yes so Stephen this is something that is going to really be in the headlines because we get the online safety bill and this is expected to be signed into law in the coming days we've been talking about a this lot a there's been lots of information about what the online safety bill is going to be able to do for people bill and how to really keep people safe on the internet especially when it comes to social media chatbots so misinformation the new online safety bill does not cover AI but it does cover search engines and the social media which are all likely to make use of of the technology now basically Ofcom is reviewing ways of limiting harm caused by AI as it prepares to police the online safety bill and what the Telegraph is reporting is that Britain will require AI companies to label deep fake photos so anything that is not real that's fake that's harmful that could be misinformation but once again Caroline doesn't go far enough and is it even possible thank you so much and Leanne Gerens for that look through this morning's April's coming up next Bruno Lemaire speaking to Bloomberg Bridge together we have the opportunity to build a more sustainable and inclusive future at the Bloomberg new economy forum we help make this possibility a reality by cultivating new connections among global leaders that transcend geographies industries and ideologies because when global leaders work together the outcomes benefit all of us learn more at bloombergneweconomy .com when you get your news from bloomberg you don't just get the story you get the story behind how
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"July Prepare U .S. for 31st market inflation outlook in volatility Hong Kong, positive as Sunday they but weigh July up expects key 30th decisions future from job in global New losses, July York, central 31st in Hong banks. Kong, and and coming China up says this it hour, One will Fed soon official announce calls traders some the prepare U Sunday July 30th in New Taiwan million $345 more in military aid. I'm Ed Baxter with Global News. Could killing up a head to Liverpool on a loan deal. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports. That's all straight ahead on Bloomberg Daybreak Asia on Bloomberg 11 30 New York Bloomberg 99 1 Washington D .C. Bloomberg 1061 on Boston Bloomberg 9 60 San Francisco Sirius XM 1 19 and around the world on bloombergradio .com and via the Bloomberg Business App. Hi everybody just after eight o 'clock in the morning here in Hong Kong hour three of the program Graham a very good morning to you. Let's see how the markets are moving at this hour. There's some new markets opening up. business Here's Doug Brian. Right now in Japan we've got the Nikkei up about three hundred and forty points or so. So the gain is greater than one percent right now before we get to the story on the yen. The eco data for Japan looks like this. This is us real output for the month of June month on month positive two percent that was a bit below forecast two point four. But then if you look at it year on year industrial output was negative in June June by four tenths of one percent. The street was looking for a positive three tenths of one percent. The yen does remain We remain a little strong here at about one forty eighty against the greenback but that's after weakening by point two percent in the Friday session U .S. snapping a four day rally. It all came when the Bank bank of Japan delivered kind of a hawkish tweak to policy loosening the BOJ's grip on bond yields saying that fifty basis point ceiling on the ten -year JGB is essentially a reference point it's no longer a cap not a rigid limit so that creates a lot more flexibility for for bond buying needless to say. Right now in Seoul we've got the KOSPI rising about seven tenths of one percent and in in Sydney the ASX two hundred is ahead by six tenths of one percent U .S. Treasury yields drifting a bit higher now as we the get Tokyo the session underway with a ten -year now at three ninety six so we're up a little more than a full basis point a two -year at four eighty eight the dollar flat against the majors and some strengthening coming through in the offshore Chinese Yuan now at seven fourteen eighty seven against the greenback a gain of around a tenth of one percent. take We'll another look at markets in fifteen minutes, Brian. Alright Doug, thanks very much. Well, the notion of a soft landing in the United States seems to be taking hold. The head of the Minneapolis Fed, Neil Kashkari, says the U .S. likely will have a slowing economy, but it will avoid a recession. Kashkari told CBS's Space The Nation the U .S. inflation outlook is quite positive. The economy continues to surprise how resilient it is. That's a really good thing. The unemployment rate is still very low at three point six percent. Nonetheless, I'm not going to dismiss the hardship that Americans are feeling. High inflation for several years has really put a dent in people's pocketbooks. We're now starting to dig our way out of that, so we're making progress. And he does see that the aggressive tightening campaign will probably end with some job losses. He sees unemployment reaching perhaps four percent. On Friday, the closely watched U .S. report Jobs is projected to show that hiring increased at a healthy yet more moderate clip. In China, the country is expected to announce some new measures to boost consumption today. Let's get that story from Bloomberg's Bonnie Au in Hong Kong. These new directives follow a slew of other policies unveiled in recent weeks to revive the economy. Growth momentum weakened Property markets slumped. Just Friday, China laid out a plan to boost consumer industries. It also pushed efforts to grow an exchange dedicated to helping small firms get access to funds. Earlier month, this measures were introduced to lift sales of cars, electronic products and rural consumption. The consumption new package will be announced this afternoon in Beijing. In Hong Kong, I'm Bonnie Au, Bloomberg Daybreak France's finance minister Bruno Lemaire has called on Chinese companies to invest more in Europe. Bloomberg's Joan Wong with that story in Hong Kong. Lemaire said his talks in Beijing were positive a on piece that would help fight climate change. The two countries said they'd work together on improving the regulatory environment surrounding cosmetics and they'd address concerns over intellectual property rights of French companies in China. Lemaire said he wants to get better access in China. He added that decoupling is not possible. More meetings will be held in France before the end of the year. In Hong Kong, the two countries said they'd be a partner at MBMG Group, but now it's time for global news. Germany is warning its officials that China is stepping up spying in the country. Ed Baxter with global news from the 360 newsroom in San Francisco. Ed. Yeah, that's right, Brian. Notice this. China significantly stepped up efforts to find information intelligence in recent years, and has built up a worldwide network of contacts and is constantly striving to expand that. It has always warned companies of caution and restraint in any activities that could be interpreted as cooperation with a foreign secret service, but says China is really making its efforts known now. China is getting a lot of attention on the US campaign trail as well as a battle against fentanyl as well. Republican candidate for president and former UN ambassador Nikki Haley says China's military prowess continues to be built and it continues to buy up US soil and property. She says it has to stop. We wouldn't allow them to buy US soil. We would take the land that they bought back them. from We would go and say no more are we selling any sort of sensitive technologies that allow them to build up their military and threaten the US. We would stop that. We would tell our universities you either take Chinese money or American money the but days of taking both are over and we get that Chinese infiltration out. She says she would ban Chinese companies having from access to sensitive technologies and not do business with any companies involved in technology theft. As for fentanyl on CBS face a nation has heard on Bloomberg says it must be addressed now. Number one cause of death for adults 18 to 49 Margaret is fentanyl and don't think for a second China doesn't know what they're doing. So what I would do is say to China we will end all normal trade relations with you until you stop killing Americans. And Senate Majority Leader Chuck Schumer today said
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Is Bloomberg daybreak Europe. It was a great town in trough. It was obviously a sense that MPs, ministers, all the public, couldn't rely on information that was coming out of Downing Street. So the blame for it when historians go back over the series will largely lie at his door. I know that there will be many people who are relieved, quite a few who will also be disappointed. And I want you to know how sad I am to be giving up the best job in the world. Bloomberg daybreak, Europe. On Bloomberg radio. It's 7 30 in London, good morning. I'm Stephen Carroll. And I'm Caroline hepco, welcome to Bloomberg day by Europe. We are seeing stocks pointing negative this morning ahead of the European trading session stocks 50 futures down by 1.6% now the S&P E minis are down by 8 tenths of 1% on the bond markets ten year treasury yields in the U.S. still over 3%, although database is point this morning and the ten year bunts down by three basis points of one spot 32. Looking at oil prices, they're also siding today one and a half percent WTI at a $103 24. The dollar four tenths of 1% stronger than the Bloomberg dollar spot index that's pushing down the end, the Euro and the pound. Now to our top stories, the main pipeline for Russian gas to Europe goes down for ten days of maintenance today and the region is bracing for Vladimir Putin to cut off flows for good Bloomberg's UN pots has the details. As the Nord stream pipeline shuts for maintenance work, France's finance minister says the continent must get ready for winter. Speaking to Bloomberg, Bruno lemaire says that France is doing everything it can to avoid power shortages, but he says the country needs to be careful with energy consumption while building up gas stockpiles for the months ahead. In London, I'm your imports convector at Europe. So that was being based in parts Canada has, though, now agreed to export a repaired gas turbine for that pipeline back to Germany despite objections. Foreign secretary Liz truss has entered the race to replace Boris Johnson as prime minister with the pledge to cut taxes from day one. She joins ten other candidates who have begun to make their pitches, including former Chancellor Rishi sunak, his successor Nadine zahawi and transport secretary grant shops. He says government spending cuts could help pay for his tax proposals. The reduction which has already planned one P off the income tax rate, the basic rate that should happen now. I also want to stop freeze if you like. The proposed increase in corporation tax. That's transport secretary grant shops, the precise timetable for the leadership concept, contest is expected to be set out later today, conservatives are keen to whittle down candidates to a final two before parliament goes on its summer recess in a week and a half's time. And now European Central Bank governing council member Yanis tuna says that the new tool to keep debt market turmoil at bay in Europe may not need to be used if markets just believe in its power. Speaking to Bloomberg, sonali said that he currently doesn't expect there to be a recession in the Eurozone. There is no question about that. And this is a very nasty supply side soak. But for the moment, we don't expect negative growth this year or next year on the baseline scenario. I repeat that, but we can not exclude an adverse scenario. In the adverse scenario, which has to do with negative surprises on the energy front, we might have recession next year. Then we'll consider our position again. European Central Bank governing council member Janis donara speaking exclusively to Bloomberg there, the ECB has accelerated work on its so called anti fragmentation tool after a jump in Italian government yields in June. In Sri Lanka, opposition parties are trying to cobble together an all party government and pick candidates who can take over from the president and prime minister. Bloomberg city ranjan sen reports. I agreed to step down after unprecedented protests in Sri Lanka, but that hardly solves the problem. To begin with, the political instability and the chaos is unlikely to help the IMF to come to a conclusion and give Sri Lanka a D and the next president and the prime minister is going to be chosen from the parliament where president go to buy a Raja pakist party holds a majority. Therefore, it's not yet clear whether the opposition gets to feel its own candidates or it will be somebody from Brazil and go to Rajapaksa's party. And whether that particular person who comes in next as a leader of Sri Lanka is going to be acceptable to the people who have been protesting on the streets that with Bloomberg's city ranch on San reporting from Sri Lanka, he also says on the ground that food fuel and medicine are running shores. And now Bloomberg has learned that Twitter has hired a top merger law firm as it races to sue Elon Musk. Sources say that the social media company aims to file a suit in Delaware early this week. The billionaire announced plans on Friday to drop his $44 billion takeover bid for Twitter, Musk alleges that the social network made quite misleading representations over its number of spam bots and then just earlier this morning issued a humorous response on Twitter of course to Twitter's preparation to sue him and to force that completion of the takeover deal. So, yeah. You can see the photographs. Never miss an opportunity for social media job. Those are our top stories. We're talking next about FinTech and the prepaid kids debit card and financial education group go Henry has acquired French FinTech picks pay in a deal to expand the business into Europe for the first time. The shift away from using cash, the pandemic and air the cost of living crisis role reasons that pocket money apps have become more popular. Well, go ahead Henry says that it has more than 2 million users in the UK and U.S. and raised $40 million in a funding round 18 months ago. And so I'm pleased to say that joining us now is the founder and COO of go Henry, Louise hill, Louise welcome to Bloomberg radio. Thank you, hello. So first of all, on the deal, why buy picks pay? Well, we're the pioneering kids finance in the UK and the U.S., as you've said. And picks pay is the lead or in team banking in France and Spain and very much a company we feel shares our values and ambition. So together, we will be able to further our mission to make every kid and team smart with money. It lets us expand into Europe for the first time, grow our 2 million plus UK and U.S. member base and fundamentally accelerate our growth, improve our competitive advantage and cement our global leadership position. So we're very excited about it. Louise, you're going to keep picks pay as a separate company, not integrate it into go Henry why, have you decided to do that? Well, pigs pay already have a strong customer base across France and Spain. They're a well loved brand there. And go Henry the same in the UK and U.S.. So it makes sense for the moment, certainly, to keep the two brands separate. Okay. Just tell me about how fast the business is growing. I read that your revenue more than doubled to $42 million in 2021. Is that accurate what other numbers can you give us? Yes, it did. We've doubled during the pandemic as the move to cashless accelerated. We've been growing very strongly in the U.S., our U.S. operation has had triple digit growth for since it launched in 2018. And picks pay has gone from a standing start in April 2019 to over 200,000 customers across France and Spain. So yeah, all elements of the business have been growing incredibly strongly. So your focus is on a 6 to 18 year olds a
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"He's rapid and it is solid Then we are facing the negative consequences of these rocket economic recovery bottlenecks shortages on the liberal market on the semiconductors on the whole materials French finance minister Bruno lemaire for the month the S&P was up 6.9% this week the S&P advanced 1.3% Today stocks climbed S&P up 9 a gain of two tenths of 1% the Dow up 89 up three tenths of 1% NASDAQ also up by three tenths of 1% Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Charlie belloc this is Bloomberg You're listening to balance of power with David Weston on Bloomberg radio Bloomberg reported this week that the Treasury Department and other agencies will give the green light to a plan for the SEC to take the lead role in regulating stable coins something Cher Gary gensler has been pushing for likening the coins to bank deposits that have to be backed up by reserves to explain the move and how it fits into the larger issues of regulating cryptocurrencies I talked to Todd Zimmerman of Superman compliance services The SEC is sort of drifted into this area in the past It doesn't seem like this would be this kind of congressional action If it's security the SEC has the authority to regulate it I guess that could be challenged but I think it's pretty clear I think I'm pretty solid ground here It is the basic idea here for stable coins which are as I understand it tied to a Fiat currency The fact that there are reserves that basically are reasonably liquid to back it up because that's the promise as I understand it of the stable coin That's how it's supposed to work Now how that exactly will work is a little unclear at which currency is backed up and where that will be held And ultimately who's going to be the party on the hook to the extent that you have a breaking of the valuation Is this a like money markets essentially That's all I understand it So money markets with a crypto overlay Yes I think that's exactly right So this would be one step in that direction Maybe not requiring congressional action What else needs to be done Because these are just stable coins we're talking about For example Bitcoin would not be covered by this as I understand it Yeah I think look there's a lot going on in the crypto space As I'm sure you're all aware the SEC finally approved a Bitcoin futures ETF fund the pro shares fund which is done very very well A lot of demand for that And then there's a lot of pushing for additional crypto funds Those potentially will invest in future invest directly crypto The SE isn't there yet I think the future is fund is testing the market but some of the concerns with investing in futures are solved as opposed to investing directly in the cryptocurrency things like valuation and liquidity It's much more difficult in a direct investment And that is because with respect to futures as opposed to the underlying Bitcoin or other cryptocurrency there is a regulatory level inserted because of the futures right I think that's part of it The futures market is a fairly well established market It's regulated futures prices are regulated So I think the SEC is more comfortable with that and obviously Gary Gus are used to run the CFTC So he is not a neo fight when it comes to the futures market I think the commission and many people in the market are just less comfortable with direct trading and the coins themselves although we're moving in that direction There's no question about it Talk about some of the other issues that would not necessarily resolve just by making sure that a stable coin is backed up by the Fiat currency it's supposed to be tied to What are some of the other issues that regulatory authorities should be concerned about or for that matter Congress I still think at the end of the day this is not this is affiliation market right Valuation is still a little fuzzy And what I would say is volatile I think that's in volatile markets create situations and in consequences or unintended So that's a big one Will those markets actually liquid will they seize up I think there's security concerns around the underlying technology and then of course you got some tangential concerns like the environmental concerns which have been raised around crypto mining which have not been solved either So there's quite a few things that we need to be addressed But I think the el can be addressed primarily with disclosure and with some of the SEC's traditional mechanisms Are we in a competition globally here with other jurisdictions that are more accepting of cryptocurrency than perhaps the United States Oh I think absolutely Look I think crypto is here to stay Either as a currency or a payment mechanism et cetera Someone's going to someone is going to be the primary regulator because people got to feel safe I think it should be the SEC they're the best and most knowledgeable regulator in the world is secure financial markets But if the SEC continues to push crypto away somebody else will take on that regulatory responsibility whether it be one of the European regulators perhaps China perhaps the office or regulators But I think yes you should just step in here and make the U.S. the primary venue for crypto trading So the SEC as you say has a long track record of being a very sophisticated regulator At the same time going back to the very beginning you said as certain aspects of a security But does cryptocurrency have aspects of security Do you have an ownership as it represented ownership interest in some asset which is what the security typically does Well I don't want to get too inside legal mumbo jumbo but it has to do with whether you're under the SEC how we test whether you're benefiting from the participation of others Is.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Health agency gave approval to the shots that are designed for children between the ages of 5 and 11 The shots still need the backing of the CDC before kids can roll up their sleeves The sheriff who brought charges against former New York governor Andrew Cuomo believes his investigation is solid Craig Apple the sheriff of Albany county says Cuomo will appear in court next month to be formally charged He said Cuomo's attorneys are wrong to classify this case as political We do our investigations We're very professional agency and I took an oath and we took a complaint and we followed through with it and we did like every other police department and sheriff's office should have done The Supreme Court will take a closer look at the controversial new abortion law in Texas on Monday just this is fast tracked oral arguments in the case but a ruling may not come for months The new lone star state law is being challenged in two separate cases I'm Brian schuck And I'm Charlie pellet Bloomberg world headquarters We closed the books on October It is on to November the U.S. stock market is at a record Stocks rose as traders weighed disappointing earnings and bond market gyrations amid concerns over inflation and monetary tightening Scott Clemens is chief investment officer at Brown brothers harriman So right now the bond market is being pushed and pulled between what do I believe A 2% GDP growth figure for the third quarter that we got yesterday or do I believe that inflation is the new normal And I think we're going to see more of this volatility on a daily basis as bond market participants sort those issues out Scott Clemens of Brown brothers harriman Wall Street meanwhile is looking ahead to next week's jobs report Michelle Myers head of U.S. economics at Bank of America's securities I think one of the key components within the report will be the labor force participation rate Whether or not we're seeing a move back of supply into labor market because that's absolutely critical in order to stem some of the inflationary pressure and also keep this business cycle going Michelle Mayer of Bank of America has for the global economic backdrop Bloomberg television and radio spoke with French finance minister Bruno lemaire.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Right Brian thank you CNN reporting former president Bill Clinton hospitalized in Southern California for what they say is a non COVID infection doing well on the mend in good spirits they are very careful though he's had heart procedures in the past U.S. president Joe Biden meanwhile assigned a short term debt cap increased to avert U.S. default New South Wales Australia has announced it will end the hotel quarantine for travelers who've been vaccinated as of November 1st This is a critical step to opening up Australia for travel FDA has given the green light for beginning Moderna booster shots to people 65 and older as well as adults with compromised health meanwhile president Joe Biden says a U.S. is prepared to start vaccinating kids as soon as the FDA and CDC approve FDA is now going to send Merckx COVID-19 pill to an advisory committee for review The FDA announcement expected very soon on that French finance minister Bruno lemaire says the U.S. and EU are not on the same page when it comes to dealing with China And Taiwan investigators have not ruled out arson as the cause of the fire in the southern port city fire which caused no I'm sure I'm sorry 46 deaths and 41 people injured Japan now prepared for October 31st general election the powerful lower house parliament has been dissolved The Los Angeles port is now open for business 24 7 62 ships anchored waiting to be offloaded Iran and EU diplomats have ended a meeting of potential nuclear deal without setting a timeline for resumption of negotiations that would include the U.S. and Donald Trump has been ordered to give testimony Monday in a lawsuit by human rights activists who claim his security guards assaulted them outside New York's Trump Tower during a 2015 protest In San Francisco I'm at Baxter This is Bloomberg.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"New South Wales has made the announcement that air travel will take a step back towards normal beginning for the first of next month It backstairs in San Francisco with the latest Yeah boy I've been waiting for this feels good New South Wales announcing it will end a hotel quarantine for travelers who've been vaccinated as of November 1st Bloomberg's Paul Allen says a critical step toward recovery Viewed as a critical step in terms of reopening at the states to the rest of the world that will mean Australian stuck overseas will be able to come home much more easily and vaccinated Australians will be able to travel Again this effective November 1st first step CNN reports former U.S. president Bill Clinton has been hospitalized in Southern California for a non COVID infection doing well on the mend in good spirits a spokespeople say they're very careful though he's had the heart procedures in the past A U.S. president Joe Biden has signed the debt ceiling extension and White House says he will address his economic agenda at one 45 Eastern Time tomorrow U.S. Japan is now prepared for October 31st general election the powerful lower house of parliament has been dissolved in a process that could determine how long prime minister fumio Keisha stays in office French finance minister Bruno lemaire says the U.S. and EU are not on the same page when it comes to dealing with China This is key to key question for all of us The United States wanted to oppose China Europe want to engage China So there is a difference of view We need to discuss about that because this is clearly a strategy question Lemaire says in fact to maybe most pressing question facing the globe today U.S. FDA has approved Moderna booster shots for people over 65 years of age and those adults who have compromising medical conditions It says it's looking now at shots for kids 5 to 11 Meanwhile the president Joe Biden U.S. says the workplace vaccination mandates have been working at getting people vaccinated But more needs to be done We're down to 66 million still unacceptably high number of unvaccinated people from almost 100 million in July That's important It's important progress And Biden says the Labor Department is ready to step up to even get more progress Labor Department is going to soon be issued an emergency rule for companies with a hundred or more employees to implement vaccination requirements and their among their workforce And Biden says they should have more people getting vaccinated when that happens And a federal appeals court judge in New York is expressing some skepticism by a bid by four city public school employees to halt the city's mandatory vaccination program The four are arguing that teachers are a constitutionally protected class The judge said quote I'm having difficulty seeing why this is an irrational policy decision of the city In San Francisco I'm at Baxter This is Bloomberg Douglas All right Eddie thank you Let's get to Dan Schwartzman now as we look at global sports.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Next in the Bloomberg 9 60 newsroom in San Francisco Ed All right thank you the final stamp dug is on it now U.S. president Joe Biden has signed the short term debt cap increase to avert a U.S. to fall I knew that was going to happen But it's nice to hear it officially A New South Wales has announced it will end hotel quarantine for travelers who have been vaccinated as of November 1st This a critical step toward opening up Australia for some form of travel first step FDA has given the green a booster shots to people As well as adults with compromised health conditions meanwhile President Biden says the U.S. is prepared to start vaccinating kids as soon as the FDA approves The FDA is now going to send mercs COVID-19 pill to an advisory committee for review The FDA announcement is expected very soon French finance minister Bruno lemaire says the U.S. and EU are not on the same page when it comes to dealing with China at her news briefing today White House spokeswoman Jen Psaki reiterated the U.S. commitment to Taiwan Her word her words rock solid and Japan is now prepared for October 31st general election the powerful lower house of parliament has been dissolved I want to do a more A Los Angeles port is open as reported to SGA would be It's open for business out 24 7 officials there say 62 ships anchored waiting to be offloaded In San Francisco I'm at Baxter this is Bloomberg Brian sir All right thank you very much Well Asian economies are rebounding from the coronavirus shock but at a slower pace than previously anticipated Let's bring in Stephen Schwartz at Asia Pacific sovereigns at Fitch ratings to take a look at the recovery here Well just looking at China and I know there are a lot of factors at play there but with the data coming up Bloomberg is now predicting that GDP will have slowed to 5% in the third quarter and that would be down from 7.9% in the previous three months What's actually happening right across the board with Asian economies Yes great to be with you Well as you said at the outset we do expect patient economies to continue recovering from the depths of the pandemic shock but at a slower pace than we anticipated previously And that's because of the unexpected delta variant outbreaks in the second and third quarter of this year And Asia really got behind on vaccinations but they're catching up quickly now And that's why we think the regions on a firmer footing So from here on out we do expect that growth momentum to pick up for the most part But as you flagged China is a growing concern and growth is flowing precipitously there as we see You flagged a number of other countries as concerned but let's look at what you're looking at in terms of holding up relatively well And you're looking at the likes of Japan Korea Taiwan and we saw TSMC's results yesterday out of the water So still a lot of demand here for chips which is going to help these economies Absolutely and north Asia growth is holding up quite well apart from what I just mentioned in China and that's really due to external demand The global shortage in semiconductors is just proving to be a big boost for Taiwan and Korea in particular in Japan is holding its own with strong export demand as well So in terms of sovereigns when you look across give me two or three of the best outlooks at the moment Well across the region we've got three negative outlooks and two positive outlooks the positives are on New Zealand and Vietnam And Vietnam took a big hit from the unexpected virus outbreak in the third quarter of the year after they had had virtually no COVID up till then But FBI is remaining strong companies like Vietnam as a production base And so while supply disruptions are certainly continuing to have an impact there we expect the outlook for Vietnam to remain strong That's a real bright spot As I said north Asia is doing quite well South Asia has really taken it on the chin throughout this pandemic But with vaccine rates picking up we expect growth to pick up gradually into 2022 as well And the vaccine rates in the reopening I mean surely this can change really quickly We've seen that this week having Indonesia opening barley Malaysia relaxing some of its restrictions to here in Singapore a number of vaccinated travel lands being announced and that turned things around and kind of changed the outlook for these countries given that it is happening at quite a rapid pace Well we're being a bit more cautious with respect to the impact of those reopening If there's certainly helpful but we think it's going to be a very prolonged and gradual process for travel to resume across the region and we're mindful that the virus and the evolution is so uncertain we're not out of the Woods by any means And even if travel sectors and Indonesia are say Thailand reopen as they are now they're restrictions back home that tourists face So you know tourists from China are not going to really venture for long weekends in Thailand if they have two or three week quarantine on arrival back home And there's some interesting conundrums in Vietnam for instance first of the month the government relaxed some of the restrictions and boy did we see an exodus from the south from the highly productive regions the manufacturing for a lot of western companies Those workers just went to the rural areas It went home They just had the freedom to do so They're going to look for jobs out there and you know that's just one example but there may be a lot of churn that we see in a lot of these countries things that we didn't plan on Exactly And that brings us to our maybe foremost concern longer term which is the economic scarring of this crisis And that kind of labor dislocation you mentioned You know it's a very strong support for low income workers when they can return to rural areas and maintain some income that way But that whole labor market dislocation is going to impact economies over the medium term So economy will we've seen rises and unemployment together with big collapse of an investment and here the Philippines really stands out across this region in that regard We're going to not see medium term growth return to the same levels that we are used to seeing It's going to take a very long time for medium term growth to resume Let's talk about indie You've got triple B negative here Is this on concerns about government debt or what are you looking at here Yes that's the driver of that negative outlook India was an economy that entered this crisis with already high public debt levels of around 70% of GDP And as a result of the crisis public debt is now just over 90% of GDP which is really off the charts for a triple-b emerging market economy for us here at fit So that's why the negative outlook is on We do think that that level will stabilize at this level over the coming years So that could end up being a support factor for the rating But we're continuing to assess that negative output Stephen we've talked a lot about pent up enthusiasm for spending once we get the all clear Something we haven't talked all that much about is reinvestment And maybe foreign direct investment but even maybe more at the company level CAPEX are we going to see a round of that Well I think you know in that semiconductor industry and the economy that do very well there like Korea and Taiwan were certainly seeing a lot of that And companies say that they're really ramping up investment expand production amidst the global shortage But elsewhere around the region we think we sense investors are still being rather cautious about their investment plans So there's some positive signs that's beginning to resume But we're still detecting a certain degree of caution right now All right Stephen thanks so much for joining us Stephen Schwartz head.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"New South Wales in Australia has announced that it will end hotel quarantine for travelers who have been vaccinated and this will happen as of November 1st And Baxter has global news in the 9 60 newsroom in San Francisco and yeah thank you Brian Oh happy day huh This could be the beginning lifts what had been a major roadblock to travel in Australia Bloomberg's Paul Allen says it'll make travel through Sydney much easier The vaccination right here in New South Wales closing in on 80% of lagging and the rest of the country But hotel quarantine ending for vaccinated travelers in New South Wales on November The first quarantine at home will become the new norm Yeah Paul says critical step toward opening Australia to the rest of the world just getting a headline up on the Bloomberg terminal not earth shaking but expected to happen The President Biden U.S. has signed the short term debt cap increase to avert a U.S. default So this kicks it down to the first part of December FDA has given the green light for beginning Moderna booster shots It says boosters should be given to people over 65 years of age and for those between 18 and 64 who are at high risk of for medical or occupational reasons This similar to the one given several weeks ago to Pfizer meanwhile president Joe Biden says the next step is kids If authorized we are ready We are purchased enough vaccines for all children between the ages of 5 and 11 in the United States And he says they're still work to be done in the area of mandatory workplace vaccinations also he says major progress has definitely been made Every day we see more businesses implementing vaccination requirements And the mounting data shows that they work Biden says the U.S. is down to 60 million plus fought in vaccinated down from 100 million in July but says those of 60 still need to get vaccinated The U.S. and EU are not on the same page when it comes to dealing with China French finance minister Bruno lemaire tells Bloomberg radio and television is a big question globally He says the U.S. wants to oppose China the EU wants to engage So let's discuss about the best way of talking with China working with China We don't think that opposing China is right way of behaving but let's discuss about that key question Alamara says the global dilemma for the west Japan now prepared for the October 31st general election the powerful lower house of parliament has been dissolved A Bloomberg has access flight records in the U.S. that show out of practice airline pilots are making errors getting back in the cockpit Bloomberg's Angus whitley telling Bloomberg cherry on that most are minor but one pilot forgot to start his engine second engine It's a takeoff on the runway Another pilot forgot to put the landing gear down when he was coming into land and pulled out in the last moment And another case a pilot turned the wrong way coming out of the business Oh my goodness And all these all these incidents had one common factor in these pilots had come back from a lengthy leave Now to be really careful to tell you that all of those incidents ended well There was there were no problems but some problems pointed up by that research In San Francisco I'm at Baxter This is Bloomberg right Brian All right Thanks very much The time here 8 and a half minutes past the hour Our guest is raul shadra Our shadow who is CIO of Marie asset global investments Raul just looking at markets today it seems like there's a bit of a relief rally underway And maybe a little bit more opportunistic in nature One of the things we've been talking about is that investors have come to grips with more assertive central banks Do you agree Absolutely I think what happened was that we saw markets kind of pulled back on these fears of stagflation on the tapering which was kind of an eminent But took the underlying economic momentum is very strong And I think that's where as we saw over a strong result from U.S. banks market for moved up So we remain constructive on market share We have an interesting conundrum that we've posed on our am live blog today that inflation is up ten year yields it down please explain So basically why are we saying you know this thought about concerning the bond market when you're still seeing very very strong inflation So if you look at what's happening in the bond market fed speed buying close to 50 55% of the total issuances since December 19 And the other bonds are being won by bought by these money market funds So I think that's where as you see tapering kind of a play out you will see bond yields move up And also there is a school of thought which is that looker deflation is a bigger problem for the world from a two three year perspective So if the eels inch up higher there are a lot of institutions we had a happy playing going long duration because of the deflation concerns Well and you know if you're an investor and you think that these central banks will be successful if you think the fed is getting out in front that will tamp down inflation and thus things are better for the bond market So why not buy and that would drive eels down So absolutely so that is that is a section of investors are taking that look again It's an aging society It's poor demographics and that is society This will come and aggressively came down this inflation and then again we go back to the secular stagnation And that's where you go along with the duration So time only would tell which part of this thing is right whether you go short duration here long duration but it's going to be interesting 6 9 months from here And speaking of 6 to 9 months do we see that higher inflation ease once some of these big concerns we could particularly when you look at the supply chain start to ease somewhat Absolutely So I think there are two things which are happening what we've seen is consumer also as economies open move away from Spain's own durables to consumer services which is eating our travel et cetera so that kind of relieves the burden on demand for some of these consumer durables What we've seen is because of the breakout of COVID in Asia severe supply bottlenecks And the quarantines are being eased as vaccinations ramp up in this part of the world And that's where our view is that give it about three to four months The supply bottlenecks would be there but not everyone not everyone agrees Diane swank from grant Thornton says she doesn't expect inflation to slow until 2023 will continue with Al shada in a moment This is Bloomberg Peter with early paycheck you can get your direct deposit up to two days earlier That's another reason banking with Capital One is the easiest decision ever Even easier than deciding to open.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Moderna booster shots to people 65 years and older as well as adults with compromised health conditions Meanwhile president Joe Biden says the U.S. is prepared to start vaccinating kids as soon as the FDA approves FDA now going to send Merckx COVID-19 pill to an advisory committee for review The FDA announcement is expected very soon French finance minister Bruno lemaire says the U.S. and EU are not of the same page when it comes to dealing with China at her news briefing today White House spokesman Jen Psaki reiterated the U.S. commitment to Taiwan is rock solid Taiwan investigators have not ruled out arson as a cause of the fire in the southern port a fire which killed 46 people and 41 people injured Japan now prepared for October 31st general election the powerful lower house of parliament has been dissolved In San Francisco I'm at Baxter This is Bloomberg Rashad All right well let's indeed get back to our guests for the half hour Nicole web is senior vice president and financial adviser wealth enhanced enhancement group discussing her mark Is that look Now when Nicole let's just take a look at what's been going on in China with all the regulatory clampdowns and then we get emigrant Now how are you looking at that What lens do you see that through right now The point is that it's also thrown up a whole lot of other property developers which are also in financial Let's say trouble And it seems that the foreign bondholders IE the ones who have offshore bonds are likely the ones that are going to be repaid last What sort of message does that send to investors Yeah One of the ongoing struggles as an adviser in an asset management firm in the U.S. is simply just how U.S. centric portfolios have gotten over the last 5 years And I do think that that has long-term implications to success as we tend to see waves about performance Now looking specifically at China we have always been quite conscientious of their government agenda not being tied to a capitalistic agenda And our concern over banking real estate specifically and certainly state owned enterprise Has all been at the top of the list However we really do believe that these valuations and the volatility in China do provide a lot of opportunity for very long-term investors We simply don't see China losing one of its seats at the all powerful economic global table So when we think about the superpowers of the world we do think China still has a place there And most definitely second largest economy in the world right But the point that you have to be exposed there let's get a little nuanced about it Are there areas of the Chinese market that you want to have exposure to right now Yes And I hate to jump around the topic but it's just one that is certainly up for debate and a daily conversation at the moment and there's a lot to unpack there Our allocation to China has really been sized down Since we started to see supply chain issues we're going back to late 2019 at this point So what I can say is that we are certainly far less enamored with credit So as Rashad mentioned the offshore Bond hold I think we lost her Rashad I mean you were talking about how the China ever grant story has kind of spread its tentacles almost Thematically I guess we can say which is to say many property developers on the mainland are over leveraged and the chickens are coming home to roost so to speak Yeah you know this is it And we're talking about property and property developers And property is something like 28% of China's GDP And then you look at the demographic challenges ahead They've overbuilt according to researcher done by a think tank here in Hong Kong There's something like 90 million vacant well flats and homes in China That's enough to house the population of Germany or France Maybe both who knows right But the thing is that you know when you go down the route and China's population starts to perhaps shrink you're going to find that some of those urban centers IE tier two and tier three cities actually do begin to shrink as people move to tier one cities So where does that leave things Definitely And as we saw yesterday in an inflation numbers from China interesting here that the gap between consumer price inflation and wholesale inflation is going to give I think the PBOC room to wiggle here to try to be able to fine tune how the recovery story plays out in China We know that things have decelerated Some of that is obviously tied to the energy crunch manufacturing that is exactly right So I think the PBOC probably has a little bit more wiggle room here to orchestrate maybe a fine tuning of the recovery They said it is planned economy of course and there's a PBOC has got a toolbox like no other Central Bank really as they haven't been doing much.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Check of sports from around the world Here's Dan Schwartzman Thanks dad Football insider reports that Liverpool is willing to make Mohamed Salah their highest paid player with an offer of 350,000 pounds per week to keep Egypt international and field past 2023 Salah is hoping to get a three year extension until 2026 With only two starts in 7 league matches Manchester City star Raheem Sterling says he would be okay with leaving the Premier League In the past the 26 year old has expressed interest in Real Madrid but Barcelona showing interest in England international despite their financial situation It's an NFC match on Thursday Night Football is a two and three Philadelphia Eagles are hosting the four and one Tampa Bay Buccaneers at Lincoln financial fields Billy is coming off a win over the Carolina Panthers while Tampa knocked off the Miami Dolphins The San Francisco Giants hosting the LA Dodgers in game 5 the NLP S with the series title two games apiece Logan Webb taking the hill for the Giants while the Dodgers will counter with reliever Cory can able serving as an opener for Julio urias Finally even after our team record 17 game winning streak at a run for the national league wild card game the Saint Louis Cardinals firing manager might shield sighting quote philosophical differences Schilt was heading into the final year of his contract after leaving St. Louis to three straight playoff appearances Meanwhile the Yankees letting three coaches go third base coach Phil Nevin along with hitting instructors Marcus tims and PJ pellets air I'm Dan Schwartzman that your Bloomberg world sports op day Markets headlines and breaking news 24 hours a day at Bloomberg dot com The Bloomberg business at and at Bloomberg quick take This is a Bloomberg business flash We'll get trading underway in Sydney at the top of the hour futures for the ASX 200 imply a little bit of positivity here maybe a gain of about 6 tenths of 1% Weaker dollars we get set for trading in Asia And we could see the market in Japan push up about 300 points for the nikkei when the market there is up and running in about an hour and 13 minutes from now Let's get you caught up on what happened here Stateside Natalya with us in New York Guess what was quite the rally in the U.S. equity market today Would you say Exactly And if your drivers here so the earnings stopped estimates and a huge milestone in the labor market they used initial jobless claims dropped to the lowest since March 2020 And on top of that we got core wholesale inflation data in September rose at a slowest pace of the year All major equities indexes were in the green the S&P 500 and NASDAQ were up by 1.7% The Dow Jones rose by 1.6% ten year treasury was last quoted at 1.51% and the biggest theme in the energy market is this energy crisis in Europe and Asia Natural gas in Europe is up by more than 9% and WTA crude is above way to 1% Doug All right Natalya Kane Thank you so much We'll talk more about markets in 15 minutes Ed Baxter covering global news from the Bloomberg 9 16 user in San Francisco Ed Doc thank you FDA has given the green light for beginning Moderna booster shots to people 65 years and older as well as adults with compromised health conditions meanwhile president Joe Biden says the U.S. is prepared to start vaccinating kids as soon as the FDA approves FDA now getting to send Merckx COVID-19 pill to an advisory committee for review French finance minister Bruno lemaire says the U.S. and EU are not on the same page when it comes to dealing with China In her news briefing today White House spokesman Jen Psaki reiterating the U.S. commitment to Taiwan is a rock solid and Japan now prepared for the October 31st general election the powerful lower house of parliament has been dissolved And it just came about this on the Bloomberg terminal And Doug and I shared it with each other Out of practice airline pilots are making errors getting back into the cockpit one forgetting to start his plane second engine before takeoff One just before landing realizing he hadn't lowered the wheels one leaving a busy airport in the wrong direction all of them did end okay the mistakes were found before they led to tragedy but in San Francisco I met Baxter This is Bloomberg Brian I saw that earlier and I thought oh my That is a scary story isn't it Yep Yeah The all different kinds of adjustments like that that we have to deal with over the next step Yeah and you have a lot of pilots coming back from long furloughs and COVID illness and so if you extend it what about surgeons You know what about others Yeah Yeah Lawyers eh go take a break Okay Take another break Anyway let's take a look at the media review here And from state media in China so I know you've been thinking this lately Who's next in the firing line in China Well it turns out it's Chinese online brokerages especially those listed in the United States that are running the risk of violating data privacy rules That's according to analysis on the website of the people's daily The Communist Party's mouthpiece Foo two holdings was one that was held up and also up FinTech holding They were cited as case studies in the people's daily report From the South China morning post and this is a puzzling one a Hong Kong domestic helper tested positive 5 days after completing her quarantine And if you're not familiar with Hong Kong that's 21 days of quarantine The helper is imported infection was the only Hong Kong case yesterday The woman tested negative repeatedly before eventually returning a positive once she was out in the community and that was on the 26th day after landing so 21 days in quarantine out 5 days and somewhere in there she tested positive And The Wall Street Journal here John partners which has pushed for Macy's to spin off its online operations has now taken a stake in the department store opener The size of the stake was not disclosed Again this is The Wall Street Journal story News of the investment comes after Bloomberg had reported on October 6th that johnno was calling for Macy's to spin off its ecommerce division And that is a look at the media Richard All right well let's have a look at the LinkedIn Of course owned by Microsoft It is a shutting down It's a localized version of its professional networking platform in China Let's get to DeNA bas Bloomberg news Seattle bureau chief Did this give us the nuts and bolts of all this first So Microsoft went in so that it's shutting down its social network in China It's going to replace it with a jobs only site later on But right now and in the future it won't.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"People 65 years and older as well as adults with compromised health conditions Meanwhile president Joe Biden says the U.S. has prepared to start vaccinating kids as soon as the FDA approves The FDA is now going to send mercs COVID-19 pill to an advisory committee for review the FDA announcement is expected very soon French finance minister Bruno lemaire says the U.S. and EU are not on the same page when it comes to dealing with China At her news briefing today White House spokeswoman Jen Psaki reiterated the U.S. commitment to Taiwan is rock solid Meanwhile Taiwan investigators have not ruled out arson as a cause of a fire in the southern port of kaohsiung fire in which 46 people died 41 were injured the building was mixed use with business on the lower floors residences higher up In San Francisco I met Baxter This is Bloomberg Irish All right thank you very much indeed for that Let's get back to our guess of the half hour Carol pepper sea of pepper international getting her take on the market I know they're very very very very early into the earnings season whatever you're getting any picture that you're drawing from it Yes hi rashon Yes I think that the picture is news is good Companies have rebounded companies have been careful and they're beating or meeting their expectations So I think we're in good shape I think we'll have a nice earnings season I'm happy about that One of the points that a guest on the show made yesterday which I found kind of interesting was that CAPEX has grown a lot more slowly than depreciation over the past few years So it's not that surprising if you track that ratio that we would have supply destruction And I guess that means we should get used to being short for a while But it also means there must be some opportunity there for an investor Can you think on your feet fast enough to tell me how I can make money on that Well I think you want to look at materials companies You want to look at building companies You want to look at anybody who's supplying anything good to big corporations because you're absolutely right They just sort of weren't sure what was going to happen and so they were holding back from doing a great deal of reinvesting in the capital structures of the companies and just doing stock buybacks which is a short term fix Now they've got a lot of money in the balance sheet so all these corporations it's time for them to start really fixing their operations They're all looking at onshore for example a lot of parts of their business that went offshore because they don't want to be caught like this again So I think this is going to be very good for the United States You're going to see a lot of business come back here For companies that are here I just talked to a guy for example who was recycling boxes They would break down the box and send them to China to be rehabbed into new cardboard and shipped back Now they're going to bring those machines over here and do the entire process in country So yes I think we're going to finally finally see some capital investment by these companies I think that will happen And this is something which has really been an issue hasn't it I mean if we look at let's take a look at semiconductors And semiconductor business itself and the shortages we've been having this year talking to a guest yesterday And she was saying that the ultimately it's after years of under investment That's one of the reasons why we're in this position of the only reason but one of the reasons So which of the industry groups which have been most underinvested in in terms of CAPEX Well I think everybody has been I wouldn't say there's one in particular I think it's a guilty of charge across the board because the conventional wisdom for so long was look just find the cheapest place in the world and transport things back and forth to different parts of an assembly in different countries And move items around and then bring them back here to sell That's no longer actually such a great idea we saw what can happen when the entire world shuts down So I think you're going to get a lot more regional hubs You're going to see people building things and selling them in the same region known as short boat ride away instead of say building things in Asia and bringing them to the states So I just think you'll see more business for example from Mexico A lot of that business is coming back from Asia and going to Mexico I know of conversations that are happening in that direction So you're going to see a lot more opportunity to make things locally And perhaps even coming back into the United States itself On portfolio mix you're quite the fang bull and in fact you like growth overall something like two thirds growth one third value And does that run for a while Absolutely I think that runs for the next for the last ten years growth has outperformed value Hands down significantly And I think the next ten years will be the same story So there are some good value companies but we're in the financial sector I mean a lot of the value companies are just kind of dead horses as far as I'm concerned You're better off to go with a higher weight on growth with a focus on technology and healthcare That's where and consumer discretionary certainly in the next 6 months because now consumers have repaired their balance sheets as they start going back to work and they get to work from home or you're going to continue to see home improvement and buying things not necessarily as much traveling but then that money goes back into more goodies and spending for home based life In short vacation So you're going to see a shift that's very positive in that respect But I do think growth will continue to outperform value and a simple way to get all those big things in your portfolios to buy QQ the ETF stick it in your.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Children between the ages of 5 and 11 in the United States And he says I'll still work to be done on the area of mandatory workplace vaccinations although he says major progress has been made Every day we see more businesses implementing vaccination requirements And the mounting data shows that they work And he says they're still work to be done in the area though mandatory workplace vaccinations although he says major progress has been made there as well The FDA is now going to send Merckx COVID-19 pill to an advisory committee for review the FDA announcement is expected very soon The U.S. and EU are not on the same page when it comes to dealing with China That's what French finance minister Bruno lemaire tells Bloomberg radio and television day He says a big question globally and he says a U.S. wants to the word the words he use are opposed China U.S. wants to oppose China the EU wants to engage So let's discuss about the best way of talking with China working with China We don't think that opposing China is right way of behaving but let's discuss about that key question And the mayor says it is global dilemma for the west meanwhile at her news briefing today White House spokeswoman Jen Psaki reiterated the U.S. commitment to Taiwan that it is rock solid in the U.S. will continue to support Taiwan's self defense Japan now prepared for the October 31st general election the powerful lower house of parliament has been dissolved in a process that could determine how long prime minister fumio Keisha stays in office Any loss of LDP seats could have him removed from power and Los Angeles port is open for business 24 7 after the Biden news conference yesterday The executive director of the port today gene Sakura says cargo has begun unloading It's not a single lever we can pull today to open up all the gates But what we're doing is this trying to squeeze every minute every hour of efficiency out of this port conflicts that we can Sakura says in the complex there are 62 ships at anchor waiting 62 in San Francisco I'm at Baxter This is Bloomberg our Brian All right thanks very much Ed Let's get to our guest Carol pepper a CEO of pepper international Carol we just heard there from Morgan Stanley's CEO James Gorman saying that the markets are pretty much prepared now for inflation We've got a lot of people loading over onto that side of the boat now pretty quickly It didn't seem like that was the case A few weeks back I know you've got some individual calls here You're looking a lot at sustainability and we can get to that But do you feel comfortable now with this idea that the market is prepared for higher interest rates Hi Brian Yes I think the market is prepared for higher interest rates I think the raises will be small a quarter of a point at a time And they will be well telegraphed before they happen So there will not be a lot of surprises It's not Blake We're going to wake up one morning and interest rates have been raised 1% So yes I believe that we are prepared and everybody will take it in stride But there are of course consequences I mean how far will rates lightly go up And of course that's going to be contingent on the economic environment But moving rates higher after years and years of free money is not a painless process No of course it's not painless but it's also a sign that the economy is recovering that the economy is no longer completely in the doldrums And we see this We see all that free money that dumped into the economy has been put to work We see that consumers are in the best shape they've been in a decade Corporations are doing well earnings are coming in strong So as we slowly get our arms around COVID and we untangle the supply chains we have a very good future ahead of us I think the rest of this year will be very nice and going into the new year's We're going to have a nice Christmas season for shoppers and I do believe that unless some bizarre viral version new version of COVID comes along the world is going to learn to live with COVID And we'll be back to business as usual Additional emphasis on working from home part time I think that's here to stay So living with COVID and living with inflation those are major risks that seem like they're getting at least better understood and manageable And that means that it makes it easier for you to kind of concentrate on your sort of bottom up strategies You really like electric cars You're like lithium batteries And you like infrastructure pick one and start with it Well sure I think first of all infrastructure I do believe that the bill is going to be passed As you know I manage money for people with over a $100 million generally family offices and we look at things that are going to do well in the next 5 to ten years And I do think some form of the infrastructure Bill will get passed So if you look at the ETF PA VE it's up 25% this year And I think it's got more to run certainly in the next year because we haven't even started on all the new infrastructure projects that will come online that will create jobs and there will start to fix some of the roads and potholes and bridges that we're dealing with Then in terms of electric cars those are really coming They're really really coming people So again you want to invest in things like Li.
Democracy Now! Audio
"bruno lemaire" Discussed on Democracy Now! Audio
"Crow unquote. At least fourteen states have enacted twenty two new laws this year restricting access to the vote with republicans. Pushing hundreds of similar. Bill's in state legislatures meanwhile huff po reports former arizona. Attorney general grant woods who prominently back democratic senator kyrsten cinemas election to the senate is now saying she doesn't belong in office anymore unless she helps abolish the filibuster. Finance ministers from seven of the world's wealthiest nations have backed a plan to set a global minimum corporate tax rate of at least fifteen percent of multinational companies. The agreement was reached during a group of seven g seven meeting. In britain german finance minister olafur schotz welcomed the deal texts evasion be more difficult for big companies all over the world and this is a good message for the people of our countries and especially big tech guy giants who have paid cash out and this is also a good success. Oxfam criticized the g seven agreement in a statement. The group said quote. It's absurd for the g. seven to clean. It's overhauling a broken global tax system by setting up a global minimum corporate tax rate that similar to the soft rates charged by tax havens like ireland switzerland in singapore. They're setting the bar so low that companies can just step over it. Oxfam said we'll have more on this story with nobel prize winning economist joe stiglitz. The captain of brazil's national soccer team suggested his entire squad wants to postpone a major soccer tournament while covid nineteen continues to spread superstar. Carlos customer though is the latest high profile brazilian to oppose hosting the copa america. Soccer tournaments in brazil has recorded seventeen million cova cases and nearly four hundred. Seventy five thousand deaths that the true toll is likely for higher. Columbia was originally slated to host the copa america but withdrew amidst massive anti-government protests and late last month the south american football confederation ruled out argentina as a hostess recorded some of the highest daily case loads of covid nineteen in the world israeli prime minister. Benjamin netanyahu has claimed without evidence that an inconclusive march twenty third election was rigged speaking to members of his right-wing likud party sunday. Netanyahu said the election was marred by the quote biggest election fraud in the history of any democracy. Netanyahu's remarks drew comparisons to former donald president. Donald trump's false claims about the twenty twenty election. They came as netanyahu faces corruption trial. And it's a coalition of opposition. Parties led by far right nationalist politician. Not tally bennett. Is poised to end. Netanyahu's twelve year term as prime minister. Israel's cracking down on palestinians living in the occupied west bank occupied east jerusalem in inside israel. The newspaper rx reports israeli. Police have arrested nearly two thousand palestinians over the past month in an attempt to quell protests and uprisings against the occupation on saturday. Israeli police arrested. Al jazeera journalists. Ev- are dairy as she covered a protest shea. Shera during the arrest officers fractured her left hand and destroyed the equipment of her camera operator. She told al jazeera beaten while being taken to an israeli police interrogation center. They built my hand. I spent the night in the hospital. My heart and my back hurt me a lot. And he had my hand from the cavs l. so they had so much because the soldiers in the card were fighting it. All the time. I have a headache and my leg icon tool kit city. Well aljazeera denounced violent arrest crime against the journalistic profession. The foreign press association called at the latest in a long line of heavy handed tactics by israeli police. Meanwhile on sunday israeli police in east jerusalem detained and muhammad oak heard the twenty three year. Old twins have been leading efforts to fight the forced expulsion of palestinians living in the shape through our neighborhood of jerusalem where their family lives jewish settlers already. Living part of their home will have more from the occupied palestinian territories later in the broadcast in burkina faso. At least one hundred thirty. Two people were killed and dozens more injured friday as gunman swept through a village near the northern border with share burning homes and raising a market to the ground it was among the deadliest assaults. Burkina faso has faced in years. This militants linked to al qaeda and the self proclaimed islamic state have stepped up attacks. Conflicts forced one point two million people in burkina foucault to flee their homes. Nigeria has prosecuted to arrest anyone using twitter. After banning the social media platform nationwide nigeria's ministry of information announced friday. Ironically in a tweet that it had suspended twitter operations in nigeria. The crackdown came after twitter. Deleted a tweet by president. Muhammadu buhari that threaten secessionists in southeastern nigeria with violence many so the biharis tweet as a threat of genocide against members of the minority group. Who make up about twenty percent of nigeria's population in mexico. Voters cast their ballots sunday. One of the country's largest elections in history is about twenty one thousand local and national seats. Were up for grabs. Preliminary midterm election results. Show president manuel on various President andres manuel lopez obrador political party. Marina and allies have won over half of the five hundred seats in mexico's lower house but have failed to secure a super maturity this would prevent on low from passing any major legislation or enacting constitutional reforms which require a two-thirds approval without support from the opposition. The election was largely seen as a referendum on his government which rose to power in two thousand. Eighteen final results. Were expected next week. This midterm election is also describe. Just one the deadliest human remains were found in at least two voting booths in the northern mexican state of baja california on sunday in the run up to the election over eighty politicians were killed including thirty five candidates running for sunday's vote in peru the presidential run-off between leftist candidate pedro casteel and right wing politician. Keiko fujimori still too close to call early. Counselor showing a slight lead for fujimori. The daughter of former dictator berto fujimori who had strong support in urban areas. Meanwhile custodio former teachers union leader was a favourite among peru's rural communities. Voters cast their ballots. Sunday as corona virus infections continued to spread peru's recently revised death-toll indicates that has the highest covid nineteen mortality rate in the world in colombia and other social leader has been murdered hustle fund so was from the region vita the coco a signatory of the two thousand sixteen peace accord between the colombian state and the revolutionary on forces of colombia or farc. The fifty six year old was a community organizer for at least three decades and served as president of morales communal council until his assassination. His killing comes this massive anti-government protests against right precedent yvonne duquet continued across columbia in guatemala. Us vice president. Kamala harris is meeting with guatemalan president of of the gio. Matay today to discuss. Us economic interests in the central american country and efforts to further militarise the region to prevent asylum seekers from reaching the us mexico border. This is vice-president harris. His first international trip is vice president. Meanwhile many central american advocates continued to denounce us intervention region which they argue is at the root of corruption extreme poverty and violence in central america. Harris will also travel to mexico. City tuesday to meet with mexican president andres lopez over for at the vatican pope francis sunday acknowledged the discovery of the bodies of two hundred fifteen indigenous children on the grounds of the com- loops indian residential school and british columbia. Which was run by the catholic church until nineteen sixty-nine but stopped short of offering the formal apology that indigenous advocates had demanded uniquely. This we can. He joined the canadian bishops and the entire catholic church in canada in expressing my closeness to the canadian people traumatized by the shocking news. The sad discovery further raises awareness pains and sufferings of the school opened in eighteen. Ninety was used to house. Indigenous children forcibly separated from their families by the canadian government. The school officially closed in one thousand nine hundred seventy to see our interview on the subject go to democracy now dot org back in the united states a federal judges overturn california's longstanding ban on salt weapons declaring it. An unconstitutional failed experiment. Us district judge. Roger bennetta's George w bush appointee wrote in his ruling quote like the swiss army knife the popular. Ar fifteen rifle is a perfect combination of home defense weapon and homeland defense equipment unquote. The judge stayed his ruling for thirty giving california attorney. General rob bonte time to appeal. Bonte wrote quote. There is no sound basis in law fact or common sense for quitting assault rifles with swiss army knives especially on gun violence awareness day after the recent shootings our own california communities. We need to take action to end gun violence. Now he said and in north carolina. There's mounting outcry. After a high school in ashburn refused to give student ever lopez his diploma from wearing mexican flag over his gown and his graduation ceremony last week. The moment was captured on a tick tock video that's since gone viral lopez was born in the us to mexican immigrant parents and said he wanted to honor his mexican roots as who would become the first member of his immediate family to graduate high school. The family says school officials denied lopez diploma in a closed door meeting with parents and that they were escorted from the building by four police officers. Lopez has still not received his diploma and user some of the headlines. This is democracy now democracy now dot org the quarantine report. I'm amy goodman finance ministers from seven. The world's wealthiest nations have backed a plan to set a global minimum corporate tax rate of at least fifteen percent on multinational companies. The agreement was reached during a meeting in britain of the g seven. That's the group of seven. Us treasury secretary. Janet yellen praised. The agreement g seven has taken significant steps this weekend to end the existing harmful dynamic making commitments today that provide tremendous momentum towards achieving robust global minimum tax at a rate of at least fifteen percent that global minimum tax within three race to the bottom in corporate taxation and ensure fairness for the middle class in working people in the us and around the world oxfam criticized the g seven agreements saying in a statement quote. It's absurd for the g. Seven to claim it's overhauling a broken global tax system by setting up a global minimum corporate tax rate that's similar to the soft rates charged by tax havens like ireland switzerland and singapore. They're setting the bar so low that companies can just step step over it for more. We go to nobel prize winning economist joseph stiglitz he's a columbia university professor chief economist for the roosevelt institute served as chair of the council of economic advisers under president bill clinton and his chief economist of the world bank. He recently wrote a piece in the financial times headline g. Seven leaders can strike a blow on global corporate tax. He's joining us from case spain. The birthplace of salvador dali joe stiglitz. Thanks for joining us once again on democracy now here so why don't you start off by talking. About what the g seven agreed to. And why you think It has failed and trying to hold. Corporations accountable will be clear extra story. We haven't had agreement like this Beginning of exchange but at the same time exa- added. They embraced some very useful language. They said at least fifteen percent. France is going for higher than fifteen percent span. I believe very strongly. I'm part of international. Civil society group expend looking at reform of the multinational taxes and we argued for a minimum tax at twenty five percent. The danger is that if you have to low tax rate that minimum tax becomes defacto the maximum tax the actual tax and that's why oxfam bring says expressed a concern that the rate actually is not that different from some of the lowest rates in the world on the other hand. Would they forget. Is that the actual. Amount paid is not the official tax rate. You know google apple all these companies that produce the products that we love also excel in tax avoidance and tax rate to that apple pay for instance in ireland was not twelve and a half percent. Which is the official rate but a fraction of one percent. Let me bring in. What the french finance minister bruno lemaire said about the fifteen percent minimum corporate tax rate. Saying it's just a starting point you abune successful new taxation giant global little corporate tax tax evasion and tax avoidance outrage our fellow-citizens vicious agreement. Minimal rate that we've agreed on the corporate taxes and fifteen cents. And i say it again. Minimum fifteen percent starting point in that gimbal minimum tax. That's the french finance minister brunette lemaire Joe stiglitz. I think he's absolutely right. We should view this as the minimum of the minimum. We need a minimum tax rate. Otherwise there is a race to the bottom that has been going on for a very long time and what the g seven is done is begin to stop that race to the bottom and it is going to be critical that brutal mira's view view. I've taken that it needs to be substantially higher than fifteen percent. There's another provision in in With the g seven dead. I want to call attention to. Which is.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Minister. I'm wondering when you are scheduled to talk to Janet Yellen theme incoming Treasury secretary in the United States, depending on the votes, When is that conversation going to happen? What do you think the focus of that conversation will be? And do you worry that the European Union's new trade deal with China may make relations with Washington a little bit more difficult? Asshole hope to have the possibility off talking toe Zenit a soon as possible in a few days, But first of all, we are waiting for confirmation from the U. S in age, so I want to stick. Theo American procedure off course, and I'm waiting for the formal confirmation from the U. S in eight and then we will have a lot of topics that we will have to address. But I know Jenna Chilean very well, Andre sure that we will have Very constructive relationship on many topics. The first one will be off course, international taxation and the very first statements. Made by Jenna Chillin on international taxation clearly marked a change in the American position on the right direction. Own digital taxation on on minimum taxation, especially the second issue that we would have on the table even if it is not exactly in the school. All the restaurants, abilities of radiant Dylan will be the necessity off withdrawing the sanctions against you and doing our best to Fort Find an agreement on trading questions, and especially under booing at this case, But because clearly this is a matter of concern for all of us here in Europe and the last point with me as you just said that the relationship with China I think that We have to do come on the force the U. S and Europe to engage China into more constructive relationship on the international stage. And incentivizing China Tau Bay by the international rules on intellectual property, for instance, or on the level playing field, and I hope that we will be able to have a common view on this approach towards China. Minister. Thank you for your time today it is greatly appreciated the French Finance Minister Bruno Lemaire from the World Economic Forum. Back to you. Thank you so much. The guy Johnson for that timely and really important interview with the French finance minister to get a readout on particular what they talked about at the end there with coordination, possible coordination with United States. We turn now to our colleague Bill fairies who covers international affairs and national security issues in Washington. So Bill I know that President Biden had the first talk with President Macron of France over the weekend, supposedly about NATO and about climate. Two things. I guess they would be inclined to agree upon. Exactly. I think what we've seen from President Biden so far is a much more traditional outreach to allies on, you know, areas of common interest things they could work together on the first call was Trudeau. In Canada and, of course, historically in the creek Over time. The U. S president generally met made his first trip to be one to Canada and in Mexico. Now that we're in covert in the pandemic, he made his calls Tohru Girl in the Mexican president. But and then started the outreach with the UK and the European allies. But yes, they're going to focus on areas and common NATO climate change any coordination they can on covert issues as well well about the covert issue coordination Bruno Lemaire, the French finance minister. We just heard from as said he would like to have more coordination on things like the stimulus package. 1.9 Trillion is that likely to happen? Well, I think from the bidet administration's point of view, their focus is getting any kind of packages. This point. We've seen a lot of pushback from both moderate Republicans and some Democrats in that package, so I think the administration will worry a lot more about the domestic politics. Now, then the the international politics. Okay, Bill. Always great to have you with us. Thank you very much for joining us. That's our colleague bill fairies. We turn now from foreign relations in the by administration back to the subject that is affecting all nations around the world. And that is, of course, fighting the pandemic as everyone races to get as many people vaccinated just as soon as possible. We continue to rely, though, on treatments for the millions already infected. Scent of ax is one of the company's working on such treatments, using some something called computational immuno Engineering to find breakthrough medicines. Welcome now the company's CEO, he's Dr Jacob Glanville. Welcome. It's great to have you with us. I have to say, I think you could start we explain to me exactly what computational them, you know. Engineering is Sure. Well, thanks for having me on it's a mouthful. But what it really means is that we Used advances in computation, as well as a wet lap practice is to try to produce better medicines. The first generation of antibody therapies have worked, Okay, They didn't work in the hospital, and they're not very convenient to deliver outside of the hospital. Because they require an I V. And so the doctors who could given ivy are busy giving it more sick patients. So the last issue, of course, is that the new mutations that are emerging around the world, many of them are interfering with the initial wave of antibodies to be able to provide treatment. We've used our engineering techniques, design anybody that buying to conserve location on the virus that it hasn't been able to mutate and Achilles heel. We've also engineered it so that we can concentrate our antibodies into a syringe so that people can get a convenient injection when they get sick early and they don't need to go to a hospital. So those air advances to make a better.
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Balance of power on Bloomberg Television and radio. We're also joined by our listeners on the cable here in the United Kingdom. Let's turn to the Virtual World Economic Forum in Davos. I'm joined now by Francis Finance Minister Bruno Lemaire. Minister. Thank you very much. Indeed. For your time this evening, it is now expected that France will announce a further lockdown this week, a national lockdown. You preparing to announce additional fiscal support for French business on their employees when this happens First of all on the low down. I just want to insist on the fact that nothing has been decided yet. We will have a very important meeting on the Wednesday With president Macron. We will assess your health situation on then take the required decisions. But once again, nothing has been decided yet. Our policy is quite clear. We will support all the economic sectors that our body heat by the crisis. As long as it will be needed. And if we are to take new measures, we will have also to provide new support to the sectors that will be more severely hit. By these measures. It must be very clear that we stand beside those sectors. We have decided from the very beginning from March. 2020 to support the employees supports two companies to support all the sectors that have been hit by the crisis. And we will continue to do the same as long as a pandemic will continue to strike France and Europe. How long do you think that support is now going to be required for? Are you starting to change your thinking about the duration off this pandemic? There was an assumption. That, for instance, the travel and tourism sector would be back to normal. By this summer. That is increasingly being called into question. Ah, you starting to rethink the duration of this I think that back to normal is kind off wording that I would not shoes for the time being, because it would be too tricky. All assumption that we have to divide two year 2021 in two parts, the first part of the year. 2021 Let's say till next summer. I think that we will have to continue supporting some of the economic sectors in France on Which would be appointed cool, social and uneconomic mistake to his drool that kind off measures while the pandemic is still there. They hope that in the signal part off 2021. We will be able to lift the measures the measures for health security, we will be able to elevate that kind of difficulties. And in that kind in that case if the pandemic is over I think that we can count on the very strong rebound off the French economy on the second part off 2021. What makes me with confidence. About this situation. The economy situation in France is that when we have decided on the summer, 2022 lived at the measures for the heads measures. Then their husband very strong. We bone in the French economy, which means that we have everything that is required to have a very strong and very quickly bone as soon as a pandemic is over. Minister Within the last couple of seconds. We have news from Italy, where the Italian Treasury is now saying that it sees 2021 GDP growth as low as 4.5%. You've indicated that you're 6% target for this year is quote challenging on that forecast is dependent on no further lockdowns. How much do you think your targets your 6% target could suffer if, as you say a decision potentially could be made Wednesday, the couldn't still install a further lockdown. Let's be very clear. I made very clear from the very beginning that 6% was a challenge on that These challenge is directly linked to health situation. If there is love down, But once again, nothing has bean decided yet on this love, dawn and any further measures. But if there is a decision off love down in Frantz off course it will have direct impact on Ward's forecast on it would be very difficult to reach 6% of rules either is love down, decided in a few days or in a few weeks, but it should not be a surprise for anybody because We have been very clear from the very beginning on the assumptions and on the way we have defined the level of wars for 2021. The 6% is a challenge. I think that we can reach it provided that there is no new has measures on no new love down in France. See what happens later on this week. As you said, this is going to be well. You think this is going to be a game of two hearts that the second half of the year is likely to look better? One of the factors behind that is likely to be the progress that is going to be made on vaccinations. France is currently lagging behind on vaccinations. Why is that happening? Onboard impact Do you think it's going to have on the French economy? You know, from the very beginning of General re at Mac home made very clear that we had to accelerate on the vaccinations. And you can see the results now. We have one million people being vaccinated by the end off General re. So we are on the right track, and I think that's his decision off accelerating. The campaign of vaccination was the right one. We can see the positive results off this decision from present macron kind of who There is a direct link between Success off the vaccination and the possibility off having a very strong economic rebound. By the end of this year. We are on the right direction once again. And justified. That's the vaccination campaign has accelerated is good news for all of us..
Bloomberg Radio New York
"bruno lemaire" Discussed on Bloomberg Radio New York
"Yes, I want that trillions of dollars you is you talk about, But maybe not all at one time, I might be able to go in with a much more modest package that would bring Republicans along as a first. Step in stimulus. What do you make of that? I think that is a smart approach. I am not sure if he goes in a step fashion. He's going to ultimately get everything he wants. But President seldom do. And Joe Biden knows that better than anybody. But he is going to need those Republicans, at least some of them to go along. I think that makes sense. But again when you think about him trying to have a bipartisan approach to this at the same moment, just a few minutes earlier in the day, if you can imagine They're voting on impeaching his predecessor or removing his predecessor who's already out of office very tough for him to sort of thread that needle and get bipartisanship in one moment, and that really contentious partisanship. On the other hand, I think he is really got. He's really in a difficult position on the stimulus package, and I do think the stepped approaches is the way to go. But I do think it's going to end up with a watered down bill. At this point. We'll do you think we're going to hear that tomorrow cause he's promised he's going to give us his stimulus proposal tomorrow. Do you think you might say I'm going to do into two tranches, as they say in the business? You know, I think he may say that or you know, I can't. I'm not sure he knows the system so well, I'm not sure if he's gonna say push for everything at once, knowing that it's hard to go back. But it is possible that he will say in an effort to bring at least the moderate Republicans along. This is the way we have to do it. So I think like everybody, I'm gonna be waiting to hear how he does this, But this is a massive by a to least based on what we're hearing already. Ah, massive package that he wants to put forward and just to go back to the all powerful Joe Manchin again we heard from him. That he still is not willing or ready to go up to that $2000. So he's already facing pull back from moderates. And so that's going to be a challenge for him. And he knows that going into tomorrow. Okay? Thank you. So much. Always great to have you with us. That's Jeannie Shawn's a no Bloomberg contributor and once again author of American Democracy in Crisis. We have breaking news right now. French Finance Minister Bruno Lemaire is opposing the Teko of French grocery chain Carrefour by Canada's Kush tar. Lemaire says food distribution purchases require government approval and we're gonna bring you more on that as they develop those headlines. This.
The California Report Magazine
France postpones 'Black Friday' to help locked-down shops
"Annual Black Friday discounts in France by week, the French Finance minister Bruno Lemaire, cord for supermarkets and online retailers. Not two lives promotions on the final Friday of the month in order not to give them an unfair advantage over shops of forced to close during the lockdown. BBC News
WSJ Tech News Briefing
France's Digital Tax on Tech Giants
"Taste your way through Napa Valley California with W._S._J.. Magazine and into Garay Book this exclusive trip at into guard dot com slash W._S._J.. Magazine or call six four six seven eight zero eight three eight eight three. This is tech news briefing. I'm Tanya boost dose reporting from the newsroom in New York and France will proceed with the digital tax on international tech heavy hitters ones like like a Google and facebook. We'll check in on how new taxes of the digital variety are shaking up the tech industry and international affairs. That's after these tech headlines Japan's soft group. Unveiled a second tech Mega Fund even bigger than it's nearly one hundred billion dollar vision fund. It's called Vision Fund to and expects to gather some one hundred eight billion dollars in capital for more than a dozen investors ranging ranging from Apple and Microsoft the Journal notes that the planned inauguration of the second fund is a victory for Softbank Chief Executive Masayoshi Son who started the first vision fund just two years ago amid widespread doubt about its viability twitter has now been profitable for seven consecutive quarters a contrast two years of sustained losses that the company had reported after going public in twenty thirteen twitter's revenue rose eighteen percent to eight hundred forty one million dollars colors. This was helped by strong advertising sales in the U._S.. We also learned that twitter continues with solid user growth signs that investments to improve civility may be working but the journal notes that the adjustments are coming at a cost hiring more workers. Workers in areas like tech support and sales and spending on content are eating into twitter's profit journal's Georgia wells has the full breakdown at wsj.com and companies like facebook and alphabet not to mention Google could have their secretive algorithms policed by a beefed up watchdog Australia describes this as the world's first limits to the power or report by the Australian Competition and Consumer Commission concluded that U._S. Tech giant's we'll do too much influence wince over Australia's news and add markets they say changes are an order. The recommended changes which includes strengthening privacy safeguards with steep penalties of up to ten percent are listed in the full report and comes after facebook was hit with a five billion dollar fine. Last week in the U._S. coming up a new digital tax shakes up big tech and big government on an international scale capital. One knows life doesn't alert you about your credit card. That's why they've created. We know the capital one assistant that catches things that might look wrong with your credit card info catches over tipping duplicate charges or potential fraud and then sends an alert sheer phone helps you fix it. It's another way capital. One is watching after your money when you're not capital what what's in your Wallet See Capital One dot Com for details France will proceed with the digital tax on international tech giant's. It is a monumental tax on your garden variety tech behemoths like Google and facebook. President trump in particular spoke out against this tax. He says that it discriminated against American companies in a tweet he says quote we will announce a substantial. Chill reciprocal action on macron's foolishness shortly. I've always said American wine is better than French wine and quote the tax primarily targets companies that use consumer data to sell online advertising and is intended to stop these companies needs from avoiding taxes French Finance Minister Bruno Lemaire however pushed back against claims that the measure was un-american. We are not willing to target the American companies. We are just willing to have the fair and efficient ah vaccination of digital activities you have important companies which are benefiting from the sale of data huge amount of data and the not submitted to the same level of taxation although companies this. He's not fair and this is not efficient so we want to address this issue and we want to address this issue hand in hand with our American friends as for wine question of digital taxation that our trade stories stories on American wines also traumatize on French or the European wines fact is that during the last ten years has been a very important increase of importation of American ones to Europe. That's in fact the French finance minister goes on to pinpoint the matter as based on the fair taxation of digital activities. You have many huge companies some of the biggest companies of the world having an activities in France or in in Europe without any physical prisons and without being the level of taxes and we want to address that issue and our assessment is that it is in the interest of our American friends in the interest of the United.
0 Show
Paris informs Tokyo it wants Renault and Nissan to integrate: Nikkei
"The journal du demolish reports French finance minister, Bruno Lemaire said there are no plans on the table to change the Renault and Nissan alliance is after Nikkei reported the government is proposing and integration that could put the carmakers into a single holding company. Nikkei recorded French and Japanese officials discussed integration plans as well as Renault's wished to appoint Nissan's next chairman following the arrest of Carlos
Biz 1190 Overnight featuring Bloomberg Radio
EU Looking to Sidestep US Sanctions on Iran
"Germany and France say they're working on financing solutions to sidestep US sanctions against countries such. As the Ron including, a potential role for central banks the discussions also involved the UK and r. sign that European powers are getting serious about a, greater, level of independence from America French finance. Minister Bruno Lemaire said Europe a mafia sovereign continent not of that fall
Midday on WNYC
EU's Moscovici says trade differences persist after G20 talks
"The alpenhorn academy of Switzerland which. Offers courses Let's return to the shooting incident in the Canadian city of Toronto police say nine people have been wounded by a gunman Jody Steinhauer, witnessed what happened All of a sudden we heard what sounded like very very. Loud firecrackers Ten fifteen blocks. And someone just said run get to the back of the restaurant now and then it was silent about five. To ten went off and y'all clear to the back of the restaurant and then we started to. Hear people scream out front and a woman was pulled inside in shot and we were, told that four to six people on the Danforth was shot right here and we just tried to call nine one of, his right now and looking out the window or stuck in the. Restaurant and there's police and paramedics. Ambulance everywhere and just mayhem down here nobody really knows what's going on we'll bring you more on that story as we get it each year more than two hundred million cases of malaria are reported. Around, the world and nearly half a million people die from the disease now the authorities in the US have approved new. Drug being hailed as the most significant advance in malaria, treatment in decades Quin treats recurring form of the disease called vivax strain missed common. In south and southeast Asia and Latin America by killing Dumont malaria parasites that lie in, the liver professor Richard price is from Oxford University vivax is a ferry disease I've seen young children get infection after infection, until they become sicker and sicker and eventually succumb to the actual. Malaria or to other diseases that. Come along at the same time such as pneumonia diarrhea more from our global health correspondent Smith Erdman decide vacs malaria the most common form of the disease in Latin America and south and southeast Asia. Can, be a challenge to get rid of that's because the parasite can lie dormant in the liver and reawakened several times Existing drugs can kill the sleeping parasite but need to, be taken for fourteen days and some people stop as soon as they feel better this leaves them vulnerable to disease returning and. Leaves of reservoir of malaria in the community that can be spread by mosquitoes Now the food and. Drug administration says a single dose of, two Quinn can help flush the parasite out of the liver and stop it coming back regulators will. Need to consider it side effects and then decide whether to make it available in countries where vivax is a serious threat The growing threat of an all out global. Trade war has dominated the latest g. twenty meeting. Which brought together finance ministers and bankers from the world's largest economies and at, the talks in Argentina's Saana ficials expressed concern that the US's. Policy of imposing trade tariffs and some countries could hinder global growth are South America business correspondent Daniel Gallus reports. The g. twenty summit of finance ministers warned in a joint statement. That trade, tensions risk undermining the, global economy but there, was a lot of tension in the meeting itself Europeans complained, about US tariffs being imposed on aluminium and steel that you. Commissioner for economic and financial affairs, Pierre Moscovici warned that US action is inappropriate and that Europeans are allies not foes the French finance minister Bruno. Lemaire said the you should not negotiate trade with a gun to its head but US secretary of treasury Steve Mnuchin tried to adopt Opt a softer tone he said that in upcoming talks with. G seven nations there will be efforts to drop trade barriers altogether the g. seven does not include China so there is. A hint that the US is trying to isolate the world's second-biggest economy last week President Donald Trump suggested that the US could significantly ramp up its tariffs imposing duties. On five hundred billion dollars of Chinese goods which. Is fourteen times more than the current amount Daniel gala reporting now sue has, some other stories from our news desk you cranes security service. Has defended its decision to fake the killing of the Russian journalists are county bump Janko insisting it was. A. Success the service chief Vassil Fritz said the operation two months ago. Has saved, lives he said Russia, had been planning to, assassinate dissidents in Ukraine and alligators in Moscow denies the leader, Abdul Fatah SEC says that, rumors aimed at fuelling discontent Are among the.
BBC World Service
'Trade war a reality' French finance minister warns
"And investment on the continent also why revolution day in Nicaragua has not prompted the usual celebrations and economic reform in Cuba that's here on the weekend Summary of world news BBC. News with, Rosemary creek Israel says it's the completed a humanitarian operation to rescue up to eight hundred Syrian civil defense workers and their families from a war. Zone in southern Syria it said they had been evacuated to Jordan because of an imminent. Threat to their lives following a request from the, US and European, countries. France is finance minister Bruno Lemaire says the current US policy of imposing unilateral tariffs is based on the. Lure of, the jungle he says a global trade war. Is now a reality, the US Treasury Secretary Steven Mnuchin defended the tariffs saying China and the EU needed to open their markets. To allow fair competition the. US director of intelligence Dan Cates says he didn't mean any disrespect towards the President Trump when he expressed surprise on learning during a live interview of another plan summit between Mr.. Trump and Vladimir Putin Mr Coates scored his response awkward police in Los Angeles have arrested a, suspect, after a hostage siege At a, grocery. Shop a woman was shot dead inside before the gunman surrendered police said the suspect shot his grandmother and. Girlfriend earlier, the vice president of Afghanistan General Abdu dress. She do stra missed, you to return to the country today to resume his duties more than a year after you left following. Accusations of involvement in the. Kidnap and rape if a political rival the influential former warlord has the waste denied wrongdoing the authorities in Macau have taken into care more than five hundred greyhounds abandoned after the. Closure of China's only legal dunk racing track animal rights groups accused the stadium.
BBC World Service
'Trade war a reality' French finance minister warns
"BBC World Service at. Six hours GMT welcome to weekend with Jillian Morrison Coming up President Trump. Accuses he's former personal lawyer of perhaps acting illegally by recording their conversations does he have a point you're talking about it's. Hape discussing payment that could be a criminal violation of campaign finance, laws why would you make that tape also president Xi Jinping in Rwanda head of a major summit in, Johannesburg this week will look at the scale of Chinese investment in Africa and here would meet for the whole program Rita soccer, Lebanese-born lecturer in post, colonial and global literatures at Maynooth university in island Indian, black journalist writer. And visiting senior fellow at the London School of economics Middle. East center that's all here on weekend I the world news This is the latest BBC. News with Rosemary creek Israel says it has completed a humanitarian, operation to rescue Syrian civil defense workers and their families from a war. Zone in southern Syria it said they had been evacuated because of an imminent. Threat to their lives following a request from the. US and European countries James Reid reports the Israeli military described the evacuation from Syria. As an exceptional humanitarian gesture up to eight hundred Syrians are reported to have been taken by bus overnight through the Israeli occupied. Golan Heights to Jordan the evacuees a members, of the white helmets a civil defense organization that works in rebel. Controlled areas of Syria there had, been trapped by government offensive in the south. West of the country Jordan said it had agreed to give them safe passage to, be, resettled in. Britain Canada and Germany, the French, finance minister Bruno Lemaire has compared current US trade policy to the. Law of the jungle he told reporters that the g twenty meeting Finance, ministers and, central bankers in Argentina that a trade war now existed which post. A risk to global grace here's Rebecca drought Brunello, insisted Europe is a whole was worried about being dragged into a global trade war that, would leave. Everyone is leases he said the current US policy of imposing. Unilateral tariffs was based on the law of the, jungle global trade he. Added couldn't be based on the survival of. The fittest Mr. Lemaire was speaking of the US Treasury Secretary Steven Mnuchin said. President Trump's threat of further. Levies was realistic possibility Mr. Mnuchin urged the EU and China to apron markets to allow fee competition the US, director of intelligence. Dan Coats has clarified his response to news of another plan summit between President Trump and Vladimir Putin in Washington Chris funk reports the director of, national intelligence was, speaking on stage when he was very surprised to learn the President Putin, was being invited to the White House. Say that again That's going. To be special The White House. Was not impressed by Mr Coates has issued a statement in which he says his admittedly awkward response was not meant to be disrespectful or critical of the president and that he. Will work to support Mr. Trump's efforts, to build strong international relationships. The vice, president of Afghanistan General Abdul Ralph sheets downstream is returned to the country today to resume his duties more than a year after he left following accusations of involvement in the kidnap and, rape of a political rival the influential former. Warlord away denied any wrongdoing his return follows violent protests in, northern Afghanistan by his supporters angered by the arrest, of a powerful police commander an ally of general Dostam world news from the BBC The French. President Emmanuel Macron is under growing pressure, to explain what he knew. About a, presidential aide who was caught on camera beating up a protester in Paris in may the security aid Alexandra Bellona was sacked by the presidency on Friday but opposition parties have accused Mr., Macron of failing to act swiftly and trying. To cover up the scandal the left wing leader Sean Luke, maye shoe accused the president of organizing a private, militia Mr. Bonilla is cheaper for a magistrate on Sunday Police in Los Angeles have arrested a suspect after a hostage siege. At a grocery shop at gunman had. Barricaded, himself inside the store after crashing his.
Bloomberg Daybreak: Europe
Iranian-backed Hezbollah appears set to gain in Lebanese elections
"The business actually greg clark said that the socalled customs partnership remained quote on the table it appears to leave to ease may facing a choice between staying in the customs union or leaving the eu without a deal either could see rebels destroy her government or alto when it comes to to corporate news this morning we've been watching warren buffett over the weekend he has warned about the quote nightmare tied to new accounting rule changes in the us now it's beginning it seems the rules which require bakshi hathaway to report unrealized gains or losses and equity investments in net income helped fuel a one point one four billion dollar loss in the first quarter that marked the company's first net loss since two thousand nine meanwhile the french finance minister has worn this strikes and excessive salary demands by unions at air france klm could sink europe's largest airline bruno lemaire said the pay claims are unjustified and employees must show quote responsibility efforts is ceo resigned on friday after failing to reach a wage agreement with employees says the most in six months after warning that full year results may fall short 2017 levels let's get you some more headlines now from around the world here's bloomberg's leon cowards good morning good morning markus they counting has begun after lebanon's first parliamentary elections in nine years bloomberg's donna crash has this report from beirut lebanon held its first parliamentary elections in nine years under a new law based on proportional representation it's meant to better represent the country's complex demographics analysts expect the iran backed hezbollah group and its allies to win a slim majority lately a third of the seats volunteer ministry.
24 Hour News
Britain accuses Russia of violating UN Charter, Chemical Weapons Convention
"Are the eighth wonder of the world shop in store or online at totalwine dot com franz pants to sue google and apple and a move that could result in fines of several million euros french finance minister bruno lemaire accused google and apple of imposing tariffs on developers wishing to solve their apps to the internet giants the mayor added he finds it unacceptable that both companies can also gather data from the developers and unilaterally modify contracts the mayor said he'll file a lawsuit before the paris commercial court because google and apple shouldn't treat startups and developers in the way they do today britain is accusing russia of violating the chemical weapons convention britain's deputy u n ambassador jonathan allen says russia fell to declare the military grade nerve agent novi chuck britain says no we chalk was used to poison ex russian agent segregate script call and his daughter russia informed the organization for the prohibition of chemical weapons last september that it completed the destruction of stockpiles and facilities of novi chuck but ambassador add untold an emergency meeting of the un security council that russian declared novi cha which it was required to do he said that fact alone should negate any russian arguments about the possibility of other countries being involved he said russia either did not care that the weapon used would be traced back to them or mistakenly believed they could cover their traces china xi jinping could stay in power for decades now that the country is removed presidential term limits according to the commander of us force in the pacific admiral harry harris voice concern at a congressional hearing over the constitutional change endorsed by china's rubberstamp parliament sing it indicated the kind of country it's becoming he adopted a tougher stance than the white house which has declined to weigh in on the issue harris whose president trump's nominee to become ambassador to australia said it was possible she could still be president when china marks the centennial of communist party rule in twenty forty nine welcome to total wine and more it's much more than a wine store it's the eighth wonder of the world when people talk about little wine and more they get a little carried away we're just a big friendly place run.
Daily Tech News Show
Google to ban cryptocurrency ads in June, following Facebook's lead
"These are the daily tech headlines for wednesday march fourteenth twenty eighteen i'm tom merritt google said wednesday it will no longer accept advertisements for unregulated or speculative financial products including things like binary options but also crypto currency and ico's in a separate announcement google said it removed three point two billion ads that violated its policies in two thousand seventeen double the number reported in two thousand sixteen finance minister bruno lemaire said wednesday that france will take legal action against google and apple for their treatment of developers lemaire said it is unacceptable that the companies imposed prices take data and can unilaterally rewrite contracts a similar investigation of amazon is being reviewed by a tribunal in france the companies could face fines in the millions of euros broadcom has officially withdrawn its offer to acquire qualcomm after the us president issued an order to block the proposed merger broadcom has also withdrawn its proposed slate of directors for qualcomm broadcom we'll continue with its plans to move its official headquarters from singapore and san jose to just san jose making it a us company again the new raspberry pi three model b plus comes with a one point four gigahertz quad core processor bluetooth four point two and dual band wi fi the wifi also has modular compliance certification making it easier for products that use a pie to get certified for wifi the raspberry pi three muddle be plus sells for thirty five dollars walmart announced it is expanding its grocery delivery service from six cities to more than one hundred markets by the end of the year walmart currently uses uber and delib for deliveries but says it will add more partners as it expands insta card has been adding more grocery partners in advance of losing its tie up with amazon's whole foods and target recently acquired shipped.