35 Burst results for "Ed Baxter"
Senate Passes Bill to Support Hong Kong Protesters, Putting Pressure on Trump
"Good news well we've got a little bit of it anyway the Senate has passed the Hong Kong pro democracy legislation by unanimous consent let's get more from ed Baxter he's covering all the global stories from the Bloomberg nine sixteen museum in San Francisco eighty yeah Douglas thank yet got good news and bad news depending on where you sit is now passed both the house and the Senate as senator Marco Rubio introduced it with very anti China message and now on the latest move China's pushing the Hong Kong government to pass what they call a new national security law a law that would allow them to arrest political critics and opponents and this is if this passes that happens that's the very definition of control and the fact approved ball loss of the time and senator James Langford sent a personal message to the protesters what you are doing has moved to this body what you are doing is changing the world so thank you for your courage thank you for your bravery thank you for believing in your city and thank you for believing in Hong Kong and Blue Ridge stand flatly says it could have implications toward a trade deal yeah okay several experts about this issue I feel that this could certainly at the very least complicate kind of negotiating that at least of the first page of that crazy deal and the president has remained a mom he has not said a
Ten-year Treasury yield falls below 1.5%
"The ten year treasury yields with below one point five percent for the first time in three years well the thirty year dropped under two percent for the first time trade headline said investors on edge the volatility has with markets for most of August since president trump escalated the spat with China the ten year yield at one point five to six nine percent and the two year yield of one point four nine five seven percent and that of Bloomberg business splash Bloomberg best with June Grasso and ed Baxter
"ed baxter" Discussed on Bloomberg Radio New York
"The nineties. Ed Baxter has the story in the Bloomberg nine sixty San Francisco newsroom. Ed. Brian. I keep looking for response from the president nothing. So far the time says between nineteen eighty-five five and ninety four the Trump IRS transcript show over one billion dollars in losses. It points out that Mr. Trump was propelled to the presidency in part by a self spun narrative of business success and setbacks triumphantly overcome the time says this paints a far bleaker picture of Mr. Trump's deal making abilities and financial condition than the one. He has put forth it says over the ten years. He reported nor more losses than any other American tax payer. Meanwhile, the impeachment dance could be heating up in the US. Impeach him for political reasons, and we can't not impeach him. Clinically the have to see where the facts take us out speaker Nancy Pelosi softening or opposition to impeachment saying the president is goading them into proceedings. This after being rebuffed? Buffed on all subpoenas regarding the Muller report and Senate speaker Mitch McConnell, actually, the majority leader says he's shutting down yet on this central question. The special counsel finding is player case closed case clo-, he says it'll be no more activity in the Senate to which minority leader Chuck Schumer. I believe that we should have hearings. We should thoroughly investigate them. All the report we ought to see every aspect of the mullahs report. And then we can make a decision house Justice committee judicial committee William bar, contempt of congress vote is apparently back on now for tomorrow negotiations with the DOJ appear to be falling short of resolving any of the issues, South Korea's joint. Chiefs of staff say the weapons that North Korea tested over the weekend. Could be very dangerous. The assessment report says they could strike deep into South Korea. Without specific details on what it knows about the weapons. It says it may indicate the north has improved its capabilities to strike the. South in danger about half the country's population, Iran, planning to formally notify signatories to the twenty-fifty nuclear deal that it plans to scale down its commitments in response to US sanctions. And after canceling a trip to Berlin US secretary of state, Michael palm pale has made an unannounced visit to Baghdad to meet with Iraq's prime minister on his jet. He says to brief the PM on what he calls an imminent threat of attack from Iran. You have to listen closely. It's on his plane..
"ed baxter" Discussed on Bloomberg Radio New York
"At hit a snag. Ed Baxter has the story and the rest of the global news from Bloomberg nine sixty San Francisco newsroom. Ed. Yeah. Brian things at visit been going very well. And then break down the issue immigrant attention number of beds at the border. Presidential acting chief of staff, Mick Mulvaney, on NBC says there is funding he thinks for a barrier. There may be a deal with as much as two point one or two point five billion dollars for for border fence than I hear that there may be zero or as little as eight hundred million for the border fence and the president again is threatened declaring a national emergency to which democrat Senator Jon tester on FOX says nobody wants to shut shutdown. Nobody wants the president to use some kind of emergency powers. We just need to do our job. And we can do it. The deadline Friday second Trump Kim summit about three weeks away US special envoy to North Korea. Stephen big on saying there is some hard work to do. He says Mr. Trump is very. Much looking forward to taking the next steps in the squirted North Korea under the leadership of Kim Jong UN will become a great economic powerhouse Yonhap reporting South Korean president moon Jae in may reshuffle. His cabinet ministers as early as this week Thailand's political division erupting again with just over a month to go in the first general election since the coup almost five years ago. Bloomberg's Margaret talev the election commission meets this morning. It's ten o'clock in Bangkok. We don't know whether it will issue a decision today. It does have until the end of this week to on prime ministerial candidates, whether they eligible or not there are calls for the Thai rocks chart party to be broken up. UK Prime Minister Theresa may. We'll go to parliament this week to ask for more time to renegotiate Brexit deal where the European Union. The issue remains the backstop the attorney for the national inquirer and AM. I publishing says no bazo extortion. Absolutely, not extortion and not blackmail and Elkin Abramowicz on ABC with George Stephanopoulos held the truth that this was not politically motivated, and we will print. No more stories. You don't say what you want us to say, we're going to publish these photos. That's not that's not it's part of the negotiation. In San Francisco. I'm Ed Baxter. This is Bloomberg. Brian. Thank you very much. Our guest is David Goldman columnists the Asia Times, David thank you very much for joining us. It's been sort of a stealthy positive start to the year for Chinese equities. But obviously two major challenges looming one, obviously, the US China trade negotiations and the second is when does the stimulus kick in on the economy. Your thoughts. After aggressive buyers Chinese equities until just now, I think it's a good time to take profits. President Trump is like the cat in the hat is twenty bowls at a plate in the air and two minutes. Somebody's could come crashing down. I'm worried the trade negotiations might not go as us optimistically as I and everyone else has fought they would until now, and you've got the government shutdown several other problems. So I'd be cautious in here. Well, David, I'm kind of with you. I've been betting anybody who would take the bet that MAC allowing twenty bucks that by the deadline. There will be not the whole deal that takes months to really hammer out all the details. But the structure of a deal that both sides can agree to will be in place. You have downplayed the extent could have anything substantial in it though. If they get there. Do you think it will just be to appease Trump or Mike the Chinese actually acquiesce to some of the things that they're not just the US, but the rest of the world would like them to get on board with the Chinese definitely will offer opening of markets to finance automotive and some other industries that's a big deal. The insurance is already got a license for one hundred percent subsidiary. The German auto companies are going in J P Morgan is waiting to set up a hundred percent subsidiary. So all that's happening in the Chinese. Of course will by as much American cuts as we can produce the cell. That's off the issue. The sticking point maybe wall way and five G technology because this case for the Chinese standard dominate disruptive game changing market. I'm talking to people in Washington who say that the government is absolutely determined to stop wall way from half a map position. And if the United States really goes to the map on this one that unfortunately could. Wreck the whole thing. And we'll know at the end of the month at the mobile world, congress in Barcelona how bad things are. So you mentioned take profits on China stocks in terms of regional stocks, or maybe even global a lot of hurdles these bond yields dropping like this strengthened, the dollar economic data is not that great. How do you feel about the rest of the world? I'm very cautious. I am very much in a coupon. Clipping kind of mode here. I think that given the fact that world trade is contracting. You've got a recession. It about half is Europe, certainly, Germany and Italy, and you have US economy, which is fed by employment growth at the bottom end of the spectrum, but no capital investment and a lousy housing market. You're talking about modern US growth declining Chinese growth. Yeah..
"ed baxter" Discussed on Bloomberg Radio New York
"Donald tusk Ed Baxter has global news in the Bloomberg nine sixty San Francisco newsroom. Ed. Yeah. Kathleen, Tosca going to the bottom if I can make a bad pun saying, there's a special place in hell for Tory Brexit tears without a plan offense off responsibility also tells us to prepare for possible fiasco. That shook. And I have spoken about the actions in case of flow. Do now the hell common has drawn reaction for those stories that tusk arrogance serves no purpose and Bloomberg's Alex. Morales says, oh, boy, he's worried about it. Even if they do give concessions he may not be able to get anything through her party. So may meets with Sean Claude Yonker EU commission president tomorrow and a Goshi Asians and negotiators are working behind closed doors for some kind of solution as well. China's national medical products administration demanding Shanghai regulators. Check products in plasma at Shenzhen medicine after reports of plasma testing positive for H I V antibodies and national health commission is ordered a halt to the use of the companies related products with a second Trump Chem summit set for the end of the month or some criticism today for the positions US, President Trump is taking now the president has touted the fact that no missiles have been tested since the first summit. And most members of congress have just stood back so far and watched. But today democratic Senator Ben Cardin says that is not the story. They haven't tested nestles because.
Tencent shares jump 3 percent after Chinese regulators approve new games
"Twenty two down one tenth of one percent. Nasdaq up forty seven up seven tenths of one percent in New York. Charlie pellett. Bloomberg daybreak Asia. Thirty three minutes past the hour. Let's take a look at the Asia Pacific. What to expect today? And what's happening at the moment. Here's Doug krizner. Let's begin with the euro, Brian because we were down quite a bit of New York trading at one point we actually dipped below a buck thirteen that in afternoon trading, which coincided with a report on German or the German government, reducing its twenty nineteen GDP forecast to one percent earlier in the day ECB president Mario Draghi intensified. His warning on the challenges facing the euro area right now, we're dollar thirteen zero six so with euro weakness, the dollar strengthened against the majors. Bloomberg. Spot index picking up about three tenths of one percent on the day slightly. Weaker yen one oh nine fifty three in spite of that pullback, though, we're not seeing a lot of support for futures on the Nikkei trading in Chicago. We're only about twenty points above where we finished in the cash market yesterday in Japan, and in a little while we're going to get the Japanese CPI for the month of December want to get you to Sydney now, we've got Paul Allen. They're looking at the early goings down under and maybe a little taste of what's happening in New Zealand. Good morning, Paul. Yeah. Morning. Doug, gambit of a mixed bag in this part of the world, the dole is continuing its slide. Seventy eighty one the six high by one percent, but I wanna tell you about one of the worst performance today. I am he offers seven percent. This is after the wealth management warned the full year earnings are going to slump another thirty five percent costs piling up there from the financial advice scandal. I am going gonna take another one hundred and sixty million AUSSIE dollar hidden fiscal twenty nineteen on top of an earlier too. Hundred million dollar hit. So those shares easing off today over New Zealand daddy. So looking pretty flat right now dR, all right? Thanks to Bloomberg's Paul Allen here in New York. We had crude oil picking up about one percent. There was a report from the government. The energy information agency actually came out with a rather bearish view on the shale, boom. However looks like the growing instability in Venezuela is carrying the day helped WTI finish above fifty three a barrel right now, we are at fifty three o nine in the electron accession. I'm Doug krizner at Bloomberg. Interactive brokers studio in New York rish. Yeah. Thanks, the two bills aimed at ending. The US government shutdown has failed the two sides in anti gay shading at banks is go global news. And he's in the Bloomberg nine hundred sixty San Francisco newsroom. Yeah. Rish. Thank you. It's back to square one. Well, with the exception that both sides now. No there are two options compromise or leave the agency's shutdown. Bloomberg's Marty Shankar says the two sides now have gone back to the bargaining table. The outlines of some sort of a compromise that would continue that would open up the government for three weeks contain some semblance of border security. And the president says he is open that it will compromise reasonable agreement. I would support again, maybe a pro rated deal on a Wally says, but that a wall has to be part of it earlier in the day Chuck Schumer said he needs to know that the president will sign something that they negotiate last month. The Senate unanimously passed the short term Bill to keep the government open. It was leader McConnell's idea. Everyone thought the president would support it. But President Trump buckled to the most extreme voices in his party. So the talks are still on Japanese whalers say they will form a fleet of at least five vessels to resume commercial whale hunting, July first it says exact locations will be determined by research in June. It says catch quota and hunting scheduled not scheduled and decided North Korea's Kim Jong UN has ordered preparations for a second summit with Donald Trump. He says he will wait with patience and in good faith to work toward a common goal. The issue is what Cam needs from Trump to make any moves toward denuclearisation. The US has ordered non-emergency government employees out of Venezuela and the Trump administration trying to clarify statements made by commerce secretary Wilbur Ross about government workers thirty days of that. Some people will be out. There's no real reason why they shouldn't be able to get a loan. Against. So the president asked about it today, and he efforts what he was he being Ross was trying to say banks are working along. If you have mortgages, the mortgage is the mortgage the folks collecting the interest in all of those things, they work alone. And that's what happens in down like this. They know the people they've been dealing with them for years, and they work along the grocery store and explanation of why they really don't need to rely on food banks global news twenty four hours a day on Aaron a tick tock on Twitter power by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in San Francisco, I'm Ed Baxter. This is Bloomberg Brian. All right. Ed. Thanks very much. Thirty eight minutes here past the hour. It's time for global sports. Dan Schwartzman
China's economy grew 6.6% in 2018, the lowest pace in 28 years
"On that from Bloomberg's Ramy Inocencio. Economists who have studied the US China trade gap say it will be hard to eliminate since. It's caused in large part by US demand. For Chinese products is also not clear how quickly US farmers and companies would be able to meet the increased Chinese demand. Exporting more US liquefied natural gas to China. Could also be tricky because new export terminals could be needed to growth, South Korea's January. First twenty days of export numbers down fourteen point six percent. And there was a twenty three percent drop in shipments to China. Let's check the markets. The Hang Seng index is up a third of one percent. Shanghai composite is up seven tenths of one percent. Stocks are flat in Seoul. And the Nikkei is now four tenths of a percent in Tokyo. Global news twenty four hours a day live in talk on Twitter, powered by twenty seven hundred journalists and analysts in one hundred twenty countries. In Hong Kong, I'm Bryan Curtis. This is Bloomberg. You're listening to Bloomberg best on Bloomberg radio. I'm June Grosso. And I'm Ed Baxter. Volkswagen of America. Ceo, Scott, Keough sees a major growth opportunity incidents and says it's still a segment worth pursuing. Bloomberg's David Westin spoke with Keough. So let's talk about your relatively new job. You had a lot of
European Union, Prime Minister And Anna Marie Hordern discussed on Bloomberg Daybreak: Asia
"Deal going down and monumental fashion. Four thirty two to two zero to the prime minister facing a confidence vote tomorrow, the EU saying it's horrified and the path forward joining us live to to try to sort it out for his Bloomberg's Ameri Hordern. Who is Brexit reporter in London Ameri? Thank you for joining us. Let's start with a vote a huge rebuff. Yeah. Two hundred and thirty is how she lost it so catastrophic defeat and more than a third of her own party voted against her. I think that's really critical. You could see here within just the opposition Tories voted against this. They voted against their prime minister and the leader of their party. Now, it's very interesting to see what happens from here because there are many avenues. So we take it day by day. We know tomorrow, I think I should face a no-confidence. That's what labor has called for now highly likely going to survive this vote her own party would after rebel rebel against her. Very heard from the Northern Irish lawmakers who really fear labor take over there behind the prime minister. So once she gets out of the way, it really comes down to being on the negotiating table with the European Union. And we heard that she's expected to go back to the EU to Brussels potentially as early as Thursday. But the European Union is talking tough. We heard from Yonker we heard from Donald tusk. They're basically saying to each make up your mind already, and they say there's no point in opening up these renegotiations if the U K lawmakers can't decide what they want. So for me, the one thing that was really clear from tonight, the vote that the only point of agreement seems to be that very few MP's wanted Mrs Maes deal, and as you know, we're just ten weeks away March twenty ninth. Is that deadline when the UK needs to leave us, so Emery. Yeah. Now, we have a maybe the most likely outcome of this. If it's possible, and I want you to clarify is him fifty the most logical patch to push back the divorce date itself to give them more time. Does that make any sense? Yeah. That would probably be the first step really a technical extensive article, fifty extending it and getting more time the U K needs to request it an all twenty-seven EU countries must accept it. So it can't just happen. They need to of course, vote on it. But one thing about this is the timing is a bit tricky. We have upcoming European Union elections in may a deal must be ratified by the EU parliament, which is set to go into recess. And this parliament itself was set the chain because the UK was going to be leaving and giving up seats. So it's very difficult at this point in time for the European Union for the calendar perspective to of course, extend this. But that would look first step. So does that. Al- enhance the chances and potentially of a hard Brexit or the both sides want to avoid that. Now, it looks like both sides do wanna void that one thing that the FX market has been bouncing on. What many say is the fact that may said in her speech following voted that she's going to reaching out to other parties to try to forge more of a consensus on the way forward? Now, the FX market as you saw the pound jumping against the US dollar. Also rallying against the year. I'm looking at now against all of the g ten it's up against everything began the krona with the the fact is that market is doing that. As potentially yielding a softer break that. Yeah. Yeah. They've kind of ignored it haven't they? All right. Thank you very much. Really? Appreciate your time. Bloomberg's Anna Marie Hordern. Who is Brexit reporter in London? Global news twenty four hours a day in San Francisco. I'm Ed Baxter. This is Bloomberg. Brian. Thank you very much. Very good segment there appreciated de let's get to sport. We don't have too much Brexit in sport. Although there is some anyway, let's look first at Tottenham getting some bad news on star with Dan Schwartzman. Dan, Ryan this one as devastating news star. Harry. Kane will be out. At least two months ankle ligament damage. Cain
Kim Jong Un has Xi Jinping's support for 2nd Trump summit
"President Trump and Kim Jong Hoon. Bloomberg's Ed Baxter has the story. A flurry of activity came at the conclusion of the meetings between China's president Xi Jinping and North Korean leader, Kim Jong UN state media on both sides pushing out stories at both support. Another Trump Kim summit then South Korean president moon. Jae-in said, it would take place soon, and that it would be a turning point for peace. He is also suggesting the US sanctions. So that the two Koreas can start joint economic projects in San Francisco. I'm Ed Baxter. Bloomberg daybreak.
Bloomberg, New York And US discussed on Bloomberg Daybreak: Asia
"All right. Let's get a closer look at what's expected here in the Asia Pacific. And in fact, what's happening here. Doug, I mentioned a five percent rally and just an full of days in Hong Kong, but still down fifteen percent over the past year and the CSI three hundred and China down thirty percent even after the gains of late. Yeah. Right now, hang sang is up about one point five percent in the Japanese market. The Nikkei is higher to where seeing the trade essentially flat against the dollar here. One. Oh, eight. Eight seventy infotech the only stock group within the Nikkei, that's showing weakness energy shares are being helped out a bit by a rise in the price of crude oil WTI right now in the electron accession fifty thirty to the game. There is about one percent during New York. Trading crew had been up for a seventh straight session. The bet here is for tighter supply, given the OPEC cuts we've been talking about and consider what may happen to the growth story. If if we do get traction on a U S China trade deal right now in Seoul, the kospi is up by about one point four percent in Sydney. Asx two hundred ahead nine tenths of one percent. And on the mainland. Shanghai composite is ahead about six tenths of one percent. Long term interest rates relatively stable here in the Tokyo session. If you're looking at the US ten year treasury we've backed up about three basis points in yield in New York on Tuesday to seventy two right now is kind of where we are trading. The dollar is pulling in about two tenths of one percent. If you look at the Bloomberg dollar spot index. That's about the same degree that we were up in New York. If you look at the Bloomberg dollar spot we were hired by two tenths of one percent. Offshore Chinese one right now six eighty four forty so we're a stronger against the dollar by two tenths of one percent. I'm Doug krizner live at the Bloomberg interactive brokers studio. Juliette? Thank you, Doug. And is apple story going to get worse or to set a report coming through from the Nikkei on the Bloomberg that apple will cut production of three new iphone models by ten percent will US President Donald Trump will take a tight to the era. I should say in about half an hour to present his case to build a border barrier. Ed Baxter is covering all the global news in the Bloomberg nine sixty San Francisco newsroom. Ed, Juliet, he's hearing voices in his head from from outside his conservative allies are pushing to have him declare a national emergency and use those dollars. Bloomberg Joe subject says that's not what we're hearing that he will say we're told that the Trump will offer something of an olive branch in some form or fashion to the Democrats who have been at at stalemate with it. He's also. Oh invited the top leaders of both parties in congress to the White House tomorrow, and he's going to talk to. Republican senators at their weekly lunch. Tomorrow's no, of course, all of that can change with a tweet and the president's case already being made by vice President Mike Pence today, we need new resources we need to build a wall. But we
"ed baxter" Discussed on Bloomberg Radio New York
"Border Ed Baxter covering global news in the Bloomberg nine sixty San Francisco newsroom. Ed. Yeah. Julieta? He's mentioned this in the past. He says this time he serious and that he has modified the plans. Folks to say that will build a steel barriers still. It'll be made out of steel steel. Meanwhile, a meeting today. Bloomberg's Ross Krasny says the president says such things as emergency powers for for president during wartime. But it's very hard to see that the construction of a wall which would take years and years would be seen as a viable solution to any kind of immediate national emergency. So that would be what would happen if he did Claire national emergency. And the Democrats will congressman dick Durbin on CBS is taking on Senate majority leader Mitch McConnell, who is he says MIA he's said that he's gonna stay on the sidelines and wait for instructions from president. He is part of a branch of government and the leader in the Senate. He should be a participant in this conversation from the start and Republican Senator Susan Collins says she just tired of the bickering. It is not a sign of weakness had tried to figure out a middle ground. And I think that both sides need to indicate. A willingness to listen and compromise for now still impasse. Taiwan's ruling party DPP Alexa, show Chung Tai. As chairman Japan is saying, we'll consider countermeasures to protect Nippon Steel and Sumitomo Metal corporation assets from seizure by South Korea. This is the issue over forced labor during World War Two and chief cabinet secretary. You're shooting Suge is speaking in Tokyo now saying the move is regrettable. He says negative moves in Japan. South Korea ties are also regrettable UK. Prime Minister Theresa may is upping the Brexit game. Outlining today, a three pronged campaign to win support among MP's. She says the vote on her e- you deal, though, is still on for the week of January fourteen rejection could mean Brexit with no deal national security adviser for the US John Bolton in Israel talking pull out of Syria discussing the president's decision to withdraw but to do so. So for northeast Syria in a way that makes sure that ISIS is.
"ed baxter" Discussed on Bloomberg Radio New York
"Ed Baxter is covering all the global news in the Bloomberg nine sixty San Francisco newsroom. Ed. Yeah. They say it's going to go off his scheduled. Juliet you're right in two days opposition is out enforcing. It will not pass their calls for the prime minister to go back to Brussels. Dominic rennie. Rob former secretary of state for exiting the EU does not go. Well, quite that far. I'm not suggesting it's easy to get back us moments in the go station. You can't just call them back. What I am suggesting is that there's probably more flexibility than it's being suggested. And actually, we need to take it. We should have taken a bus line. Then we should be taken one now and Bloomberg's Kathleen Hayes says there are calls for new referendums new referendums as well. For more loyal ministers are getting ready for a second referendum and one would be just you wanna stay do. You wanna go asking British people and a second would be a basic confidence vote on Theresa May North Korea's propaganda outlet as criticize the US for blacklisting. It is one of the worst human trafficking countries on the. Globe. It calls it a hostile act China. Also on the list, this Yonhap report, South Korea reportedly now saying that Kim Jong UN visit this year may be unlikely daily report says it's become difficult as there has been no contact from the north South Korea will not rush him into visiting Seoul. Nick air says. No, he says he will not be Trump chief of staff Mulvaney Mnuchin now in the mix. Meanwhile, White House economic adviser Larry cudlow says Mr. Trump, and Mr Kelly who was leaving the end of the year really did get along. Very well. I think it was very amicable. All right. That's what I understand. Yeah. I get the president saying good things about the chief. Yeah. He didn't say what the chief was saying about the president disclosures from the Muller investigation and prosecution prosecutors in southern district of New York that President Trump in fact authorized or ordered the payment of hush money to to women about affairs. Now, this is taken talk of impeachment or criminal charges to a new level democrat Jerrold Nadler on CNN, they would be impeachable offenses whether they are important enough to justify an impeachment is a different question, but certainly they'd be impeachable offenses. Because even though they were committed before the president became president they committed in in in the service of fraudulently obtaining, the authors and Republican Marco Rubio says either criminal charges or impeachment are possible. Because no Americans should be above the law. My position on that will not be a political decision. It'll be the fact that we are a nation of laws and no one in this country. No matter who you are is above it. So do the math it makes it a little bit more interesting. If. Should reach the Senate Rubio on ABC global news twenty four hours a day on air a talk on Twitter power by more than twenty seven hundred journalists analysts in more than one hundred twenty countries in San Francisco, I'm Ed Baxter. This is Bloomberg. Doug. You know, I was looking at a note Eddie earlier from our friend. Ben Emmons, we speak to him frequently been is now over it medley global advisors, and he sent out a note and one of the things that is now of great concern for the market is the state of the administration, whether or not this could ultimately shift the political landscape, quite substantially. Yeah. And of course, what the the the changer in that the game changer is the house of representatives going to democratic control and Nadler would be the head of the Justice committee. If that were the case if they're talking about this, it could be real serious. Thank you so much Ed Baxter covering global news force in the Bloomberg nine sixty newsroom in San Francisco. We go to global sports we bring in.
"ed baxter" Discussed on Bloomberg Radio New York
"Deal. Ed Baxter with global news in the Bloomberg nine sixty San Francisco newsroom now, Kathleen you've been covering this a lot. She got hit three times a day two body blows in one right to the chin to potential compromises voting down. And then contempt of parliament for not divulging all details of the you deal. She continues to pitch it though before the house of Commons. I austin. Awesome. Awesome. To think what was it say? The fifty two percent who came out to folks leave. But Bloomberg's Peter Koi says a contempt vote that was over the parliament's demand that the Theresa May's government give the notes from the attorney general about its legal advice on Brexit. She'd wanted to withhold that and finally has now agreed after being held in contempt that on Wednesday. She'll give those notes over now. May's arguments says this runs the risk of other EU countries wanting amendments as well the vote for her deal is a week away. If it fails at risks of Brexit with no e- you deal hard, North Korea. Not living up to the terms laid out in the first Kim Trump's some of that is what the US is saying today John Bolton the president's national security adviser. They have not lived up to the commitment. So far. That's why I think the president, thanks. Another summit is likely to be productive. And that would be in January or February they're saying after meeting with the director of the. As Senate Foreign Relations share. Bob corker says he and abroad base of senators are calling on the Trump administration to strongly condemn Saudi unveil amount of the killing of Jamal kashogi. He says to not do so enables the crown prince to continue to act in the same fashion. I have zero question in.
Ed Baxter, Paul Manafort And Robert Muller discussed on Bloomberg Daybreak: Asia
"Against the dollar, but also against the yen and Ozzy retail sales in New Zealand yesterday where that's a check of markets. Let's get it over to Ed Baxter. Now. Global news in San Francisco. Ed. All right. Juliette? Thank you. Robert Muller says Paul Manafort breached his plea deal by lying repeatedly. Manafort says no he cooperated baller saying he lied to the
Japan, Tokyo And Olympics discussed on Bloomberg Daybreak: Asia
"The region has long been dominated by US stralia and their allies Florida circuit court judges suspended some looming recount deadlines, but not the sweeping really Democrats had wanted the deadline for recounts still applies for the US Senate races. It still is on with the exception of Palm Beach. Democrats say they will file another lawsuit. First lady, Melania, Trump is demanding the ouster of national security advisor, John Bolton's top deputy mayor record Al apparently, she didn't like the way her security detail was handled on her trip to Africa last month for the second straight year. Donald melania. Trump will not be attending the Kennedy Center honors celebrating cultural achievement the White House. Also saying. Not likely to see any winners of the national medal of arts or sciences announced either this is as the Trump's continue to distance themselves from arts and sciences communities. Local news twenty four hours a day on air and talk on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries in San Francisco, I'm Ed Baxter. This is Bloomberg. Juliette? Ed, thanks so much. Let's get by conversation with. Yes. Because CEO of wisdom, tree investments in Japan. We've been talking about the third quarter numbers that came through out of Japan today GDP, but I could pick up again in the fourth quarter and some of the other risks to the Japanese economy. Yes. But what do you think the bureau J can do now because we still have the sales tax hike flavored for October next year as well. Meaning that till we could still have to see a little bit of supportive policy. Absolutely. I mean, the Bank of Japan is decoupling from the Federal Reserve, I expect that we would see no changes to the interest rate policy from Japan really onto well past the Tokyo twenty twenty Olympics, and you put your finger on the pulse. Here the issue is fiscal policy. The consumption tax will go up in October two thousand nineteen so prime minister is now putting together a budget some fiscal policy to actually counter the drag from next year's tax side with additional spending you mentioned the Olympics in Japan in two twenty twenty as many as forty related sites have to be constructed including a new national stadium, and they are running into a problem right now with a shortage of workers, they're having to bring in folks, I believe five hundred thousand. From places like, Vietnam and Philippines. I'm wondering first of all if it's going to be sufficient now or whether we're going to find. Japanese authorities in a situation where they have to allow more workers in and secondarily, yes, but whether this is the thin end of the wedge as it were in redefining immigration policy. No, absolutely Japan is opening up. They have no choice. Like you point out. The war for talent in Japan is just intensifying and Joff the construction industry and some of the low end jobs, you find that some of the leading companies like he touchy or Toyota starting to have problems procuring engineers. And so, you know, prime minister Ave is putting together or pragmatic immigration policy. The changes did pass parliament. And I think slowly. But surely, you will see Japan becoming more diverse and more often immigrant country and to that end. How much of a boost is the twenty twenty Olympics gift to Japan just forward-looking when we are getting a lot of speculation that the global economy could hit that slowdown in two thousand twenty. Yeah. The construction boom is going on here. You know, I think that over. All the booze from the Olympics will be about one percent of GDP, and you may have seen that the accedes not just Tokyo, but some of the regional economies, for example, the sailing events, you know, he's going to be held somewhere in the regions of Japan. So you know, yes Tokyo is the main beneficiary of the Olympics. But some of the other parts of the country will also get their shot in the arm. So presumably in twenty twenty there's going to be a huge influx of tourists coming to Japan. But how is it the tourism industry right now? Oh, fantastic. I mean, you know, you find that the occupancy rates at the hotels are running in the high nineties, I mean, literally ninety five ninety eight percent if you wanted to get a room in one of the Tokyo hotels for the next couple of months. I mean, you would have to stand in line and queue up. And if you are paying in US stolas one hundred thirteen eighty three to the della intensive Jan, yes. Because always great to get your insight. Thanks so much for joining us CEO Wisden trae investments out of tikey there for us coming up. We'll take you through the market action. We have been seeing a little bit more subdued action coming through in Asian markets today. The ethics two hundred in Australia. One of the west performance down by one point three percents and good buying coming through in the EMC
China: October money and credit data both surprise on the downside
"Markets up and running Doug krizner is tracking them for us. Fairmont of weakness with the exception of Tokyo where the Nikkei is now higher by four tenths of one percent. Some of this may be due to a weaker yen at one thirteen ninety four against the dollar wanted to get to our bureau in Tokyo, bring in Bloomberg's Jeff Sutherland for a closer look at what's happening on the ground there. Good morning. Jeff good morning. Well, we did get a report on GDP this morning and as expected Japan's economy got hit from several sides during the third quarter with GP shrinking one point two percent. That's the second time. Here we've seen a contraction of discount around because of the earthquakes and typhoons and heavy rains shut down factories and airports, but also experts weekend because of softer globally demand in that may reflect the impact of a trade war. And the overall result was a bit worse than economists had expected, but they're senior recovering the fourth quarter. Meanwhile, stocks are positive after yesterday's keep declined the Nikkei after about point three percent, and automakers are providing the biggest boost on hopes that the Trump administration will hold off on new tariffs for autos, but energy shares are down that dot yes, indeed energy. That was the same story. We had here in the states with a collapse in the price of crude oil WTI during New York trading fell to a nine month, low the drop was greater than seven percent and a lot of factors going on in the oil. Patch? Not the least of which all the latest tweets from President Trump with respect to being critical of Saudi Arabia on reducing output for the kingdom. In Hong Kong. Hang Seng down three tenths of one percents. Shanghai composite is off about two tenths of one percent right now in Seoul, the kospi down one tenth of one percent. And in Sydney, the ASX two hundred is weaker by eight tenths of one percent US ten year treasury in the Tokyo session, yielding three point one four percent. I'm Doug krizner in the Bloomberg interactive brokers studio in New York. Juliette? Thank you, Doug. We'll as the SEM meetings continue today. What is the prime focus? Ed Baxter is covering all the global news in the
"ed baxter" Discussed on Bloomberg Radio New York
"And the potential effect on the treasury's Muny bonds and US interest rates. And here's a look at some results from governors races, including the key state of Ohio. You can see there that it's we have the democrat. Richard cordray, the former head of the consumer financial protection board. CFP ahead as of now. But it's still early going there major as we said major race to be following the Ohio governor's race from New York. This is Bloomberg. This is Ed Baxter in the Bloomberg radio. Newsroom. We I want to bring you something that it just gone up on the blog source from Justin sync up White House. Reporter he says we have one source on this NBC is just reported. What could be the first significant flip of the night? Democrat Jennifer Weston has defeated incumbent Representative Barbara Comstock, Democrats counting on this racist. They were tallying up their path to a majority. Now, of course, that's what's at stake. This is the battle in these midterms for congress. So we'll watch that very carefully. Again. This is just one source of very interesting that the Justin picked it up to take a look at it. Some familiar faces from two thousand sixteen reelected just a top. Now as we get just a few results. Bernie sound Sanders has won his see Tim Kaine has won his seat, Greg pants. Vice president's brother wins in Indiana how seat now we are going to be taking a quick look at the state area as the polls are due to close. In just about ten minutes from right now, we'll be looking at the New Jersey Senate, New Jersey house white had a New York house. Connecticut Senate to Connecticut, governor, New York Senate and New York governor and also mentioning to you the Texas to delay has been in nine precincts that could delay some of the results that we see in the cruise or Rourke race there. So we'll keep you up to date here on Bloomberg radio and television. I'm Ed Baxter in the Bloomberg newsroom. This is Bloomberg now for a mid-term market update..
Jeff Bezos' Fortune Drops Another $8 Billion As Amazon's Stock Falters
"Has lost a lot Jeff Bezos personally lost nineteen point two billion dollars in two days in San Francisco. I'm Ed Baxter. This is Bloomberg. Bryan, sir. I hate it. When that happens to me. Oh boy. Yeah. It's been it's been quite a run twenty four percent for Amazon down which is pretty significant, but for Facebook, and we haven't done the calculations on on Mark Zuckerberg Facebook's down about thirty four and a half percent from the peak. So he would have suffered a lot too and net flicks. So you know, as well, they're they're down twenty three
Alphabet misses Wall Street revenue estimates; shares fall
"Climbing forty nine points of one point nine percent. Dow industrials rally four hundred one points off one point six percent, while the NASDAQ composite index picked up two hundred ten points are by three percent. I'm Charlie Pellett. That's a Bloomberg business flash. Bloomberg best with June Grasso and Ed Baxter continuance. From the Bloomberg interactive brokers studio, this is Bloomberg best today. UBS CEO, Sergio Armani told investors at the Bank would shoot for a bolder set of financial targets but kept a January goal of attracting net new money. He spoke with Bloomberg's Nara chayhitch. In london. Let's start on a tweaking of the financial targets is this about growth visit about cost-cutting. What is the message for investors is about both? Actually, we want to reiterate the story. That's why we always to look at ways to become more efficient than we are doing that. The real story for us is are we free up resources through costs initiatives to reinvest in our business. And that's the reason why you should our plans, we as fact our cost base to stay flat excluding variable compensation. Performance performance-related and grow our top line. And so growing the top line is sustained by two cycle are trends that we are experiencing wealth creation and wealth transfer into ward and also the opening up of China's as as a financial markets and in general, we do cintos? Two forces allowing us to grow at least as much as the real duty growth globally. All right. Let's talk more about growth, and where's the growth gonna come from in global wealth management, particularly in the US? Well, actually in the US our next focus would be on. Developing more, our alt-right high net worth the offering and enlarging and bringing our expertise that we have globally on that area together with the family offices kept communities that we already have into the US and tapping a market that he's very promising for us. And that he's under tapped, honestly for UBS the second areas of growth for us is that we didn't really touch the US persons outside the US in the last ten years. And I think this is also very nice opportunity. We do we do factor around seventy billion of influencing the next door three years to come from. That's segment of Brian's interesting. So talking about ex-pats Darren and wealth management all regions data book inflows except the Americas. So in the US, what can you offer clients, particularly in global wealth management, but also in other areas that you'll US competitors. Can't well. Well, I think it's really first of all I would say that said our inflows closing the US. Are broadly line actually are in line in that with the industry standards. If you look at our US competitors Donna report, and then you money, and so the the best proxy to understand inflows and outflows on a competitive basis is to look at invested assets. And we have been growing in line with our peers, so one can assume that we had the same kind of universe of menu money. In terms of of the competitive, what we what we can offer is really this capability is that we have outside the US that makes us unique. We are the only truly global wealth manager in the war. So he means that we have leading leadership positions in all main markets, not only in the US. We we are a top player, but also in Asia and European Switzerland. So we can bring the expertise of investing globally, and which is very complementary to some of our competitors include will wealth management, then what a lot of investors have been focusing on is what's gonna come from the cost cuts. There was some tweaking around the cost targets today. Just talked to me about that. First of all, how should we interpret them and how others cost cuts gonna come about? Well, the costs are. Four is a function of becoming more efficient. And you know, when you look at our call space one thing is going to stay fairly stable is investment in technology and investment in technologies. Allowing us to take down the rest of the cost of Beijing. The Bank from tobacco around two to three percent a year. But the most important issues that what do we do in those cost savings? We'd we invest for future growth, that's the very important element. Our story is not about cost cutting our stories that combination of efficiency. Now, we manage our resources and how we manage our balance sheet. So the trade off for us sees the frontier of efficiency between capital returns and cost income ratio. Where we are one of the best in the work. A buyback program is running ahead of plan. And you have said today don't confuse one by program with our ambition and potential so through this for me, what is the potential for buybacks. How? Ambitious? Can they get what was the first of all let me clarify that statement because it means that under Swiss stock exchange also we have to declare an an amount and within three years we need to complete the program, and that has nothing to do with the cash flow that we will generate over three or four or five years. So, and you know, we are we are announcing every year. Our ambitions at the beginning of the year. We said we're going to buy five hundred and fifty million we already exceeded that targets as we speak with six hundred and fifty million worth of shares that we was back and in January when we announce our dividend for two thousand eighteen and paid in nineteen we announce our share buyback intentions for two thousand nine hundred that was UBS
Bloomberg, CEO Elon Musk and Charlie Pellett discussed on Bloomberg Best
"And analysts in more than one hundred twenty countries. I'm Nathan Hager. This is Bloomberg. From Bloomberg world headquarters. I'm Charlie Pellett. Apple has taken the wraps off of a renewed iphone strategy doing. A trio of phones at aim to spread the company's
U.K. and EU Plan Special Summit to Sign Brexit Deal
"Now, we have developments on the Brexit front, including a timeline for when the UK and. E you could sign a deal. Bloomberg Sebastian satellite joins us live from London with the latest. Good morning Sebastian. Good morning, Bob. And karen. Yeah. The UK in the European Union preparing a special summit to sign the Brexit deal. In November, Bloomberg sources saying that the meeting could be announced within days that comes amid a more positive attitude from Europe showing could care the EU commission president saying that he welcomes prime minister May's proposal on European Union partnership, but may is facing every new threat from inside her own party. Pro Brexit, Tori, saying they've spent several hours plotting to Tuesday night because they think she's betraying their
Bloomberg, President Donald Trump and US discussed on Bloomberg Daybreak
"Bomb. President Donald Trump faces new hurdles in his fight to force can. Canada to sign on to a new North American Free trade agreements, we get the very latest live now from Bloomberg's John Tucker. Good morning. Good morning, Bob. The president has threatened to leave Canada out of a new trade deal already negotiate with Mexico. Dossier due to resume tomorrow. But without congressional support. He likes leverage to force candidates and make concessions a new NAFTA must be ratified by congress. And it's not clear the support is there Trump's frustration showed over the weekend as he attacked the head of the AFL CIO for saying it's pretty hard to see how NAFTA works without Canada. The battle with Canada's building is the White House also prepares to roll out new tariffs on products from China that make up some two hundred billion dollars in annual trade a public comment period on China trade wraps up on Thursday bobbin. Karen? All right. John tucker. Thank you. Meanwhile, the technology race between the US China's heating up sources say China is exploring a merger between two of the nation's three wireless carriers to speed up the development of five g mobile services. Sources say the country's top leaders reviewing a proposal to combine China United network communications group and China telecommunications. South Africa's economy unexpectedly. He entered into a recession for the first time since two thousand nine in the second quarter as farming output plunged gross domestic product shrank in annualized seven tenths of a percent in the second quarter from the previous three months that compares with the decline of two point six percent in the first quarter here in the US. We get a report I made factoring this morning from the ISM economists are forecasting a lower index reading fifty seven point six in August. Bloomberg's Vinny Del Giudice, sir reports in July. The ISM factory index dropped to fifty eight point one a three month low the pace of new orders, the weakest and more than a year. Even so the overall is index remains elevated after setting a fourteen year high in February regional factory reports from the feds district banks the mixed picture for August. Kansas city. Dallas and Philadelphia signaled weakness Richmond and New York reported faster growth. Vinny Del Giudice, Bloomberg daybreak. Thank you that the big economic event of the week comes on Friday with the release of the August jobs report, economists are forecasting the. Employment rates will fall to historic lows, Gina smile. It covers the economy for Bloomberg news economists expecting the unemployment rate to drop to three point eight percent in August that will be the lowest since two thousand matching the lowest since one thousand nine hundred sixty nine. The one puzzle. That remains as the unemployment rate has dropped lower. Is why wages aren't picking up in a more sustained way? They're expected to be basically in line on a year-over-year basis. Still below three percent that's weaker than we've seen in prior expansions. And not as strong as you would expect these extremely low levels of joblessness. I think that's a big question. Jerome Powell the fed chair and his colleagues will be watching as we get jobs reports for the remainder of the year, Gina smile. Thank you. Economists are forecasting hundred ninety three thousand non-farm jobs were created last month. Ford. Fiat Chrysler any overseas, automakers report, their August sales figures today, we get more from Bloomberg's Jeff Bellinger. Forecasters J D power and LLC automotive say new vehicle sales for last month will likely be up very slightly from August of last year. They're looking for a gain of one percent, maybe a little more to around one and a half million hurricanes Harvey and Irma disrupted business and Labor Day sales events and parts of the south in August of two thousand seventeen the cutoff day for counting August sales corresponded with the calendar this year it was last Friday. So this year's Labor Day sales will be part of the September sales reports Jeff Bellinger, Bloomberg daybreak. Thank you, Jeff. The Bank of England's governor has the chance to put speculation about his future to rest today. Sebastian Salt Lake is live in London with details. Good morning Sebastian. Good morning. Karen will county will testify in front of UK lawmakers. Buffalo is a report from the BBC yesterday that he's in talks about staying on in the row. Beyond his planned departure date of June of next year. A government spokesperson has played down that prospects, Saint Carney still plans to be his road in two thousand nineteen but the silence from the governor has fueled speculation that needs to stay on to ensure stability after Brexit in March or that the treasury is struggling to find a replacement. What it focuses on the negotiations live in London? I'm Sebastian sonic. Bloomberg daybreak Sebastien. Thank you. Incorporate news WPP shares are down more than five percent new chief executive Mark raids signaled he would spend more to revive growth at the world's biggest advertising group WPP has forecast a profit margin. Squeeze in the full year, the Netherlands-based Bank. I n g will pay nine hundred million dollars to settle a Dutch investigation in the money laundering and corrupt practices. The Bank acknowledge what it called serious shortcomings science. She also saying it's taking action against a number of former senior employees hasn't features at this hour up by two points, less than a tenth of one percent. This is Bloomberg. And that brings us to six oh seven on Wall Street. Let's bring in Bloomberg's Michael Barr with the very latest at home and around the world. Good morning. Michael good morning. Bob, President Donald Trump has tweeted that federal indictments against two Republican congressman place, the GOP in midterm election. Jeopardy in a tweet yesterday. Trump again attacked attorney general Jeff Sessions while suggesting that the Justice department considered politics would making decisions the president cited what he called Obama era investigations shortly before midterm elections and that too easy wins. Now in doubt, unquote. He mockingly added. Good job. Jeff, it's a full schedule for congress as it returns this week. Bloomberg's Ed Baxter has an overview confirmation hearings for US supreme court nominee. Brad kavanagh. Among the question. Sure to be asked focus on the fate of a court case and the Russia probe whether cases already adjudicated should stand. A look into the issue. You of abortion through Roe v. Wade and presidential accountability. Lawmakers also work on multiple spending bills to avoid a government shutdown the end of the month. And Twitter's CEO, Jack Dorsey and Facebook, CEO, Sheryl Sandberg will testify tomorrow on foreign interference in the US electoral process, also likely facing questions on news distribution in San Francisco. I'm Ed Baxter..
Trump's Trade War With China May Hit Parts of Your Car First
"And speaking of trade some new signs about the impact of the. U. s. China trade war on China's economy as Bloomberg's Yvonne man reports September maybe a very slow month for some Chinese car parts makers don't jam based easy to electrical says it expected to have trouble selling its products this month that's what the US moving to slap tariffs on another two hundred billion in Chinese goods including the company's car. Lights along with Chinese, made a windshield wipers bumpers mufflers and car seats. The parts makers are already struggling with rising steel and aluminum costs and they are also increasingly dependent. On the US market. China's the number two auto parts supplier to the US after Mexico shipments the US, surged nearly eighteen billion, dollars last year and jumped again this year as. US companies rushed their orders before any more. Terrorists from Washington went into
Trump says he'll pull out of World Trade Organization if it doesn't 'shape up'
"I would say the WTO was the single worst trade deal ever made and if they don't shape up I would withdraw from the WTO and the thing entree will. It continued with respect to the US and Canada the president. Saying he may be close. To a new deal he also rejected a European proposal to eliminate. Tariffs on automobiles Now President Trump also making some headlines on China he. Says he's looking at a formula for Chinese manipulation, of the currency the u on Trump is said to be planning a move ahead of with massive new tariffs on China we're hearing the president wants to, move. Ahead. To impose, tariffs on two hundred billion dollars in Chinese imports and the president, confirmed in this interview with Bloomberg that, are reporting is not wrong all right we're at four minutes past the our Bloomberg daybreak Asia and we're going to go to Washington now. In bring in Bloomberg's, chief White House correspondent Margaret talev she was in the room. In the Oval Office sitting, down with the president also want to bring in our Ed Baxter who covers global news for us. From the Bloomberg nine sixty newsroom in San Francisco Margaret congratulations I mean. The team had a lot of, breaking news out of this interview not the least of which the PA the possibility that we're going to see more in the way of tariffs on as much as two. Hundred billion dollars worth of Chinese imports but give me the Big picture I I mean what was the tone like in the conversation that you had with the president the president of course is getting ready to leave shortly after our interview for. A rally. In Indiana he'd been watching coverage of that on FOX, earlier in the day and was really. Happy to see that like hundreds or thousands of people are. Lining up to get into that rally space so, he was feeling actually quite good and up on things politically as we enter the Oval Office and you know he felt very comfortable talking about most of, the. Subjects. That he, felt that he could be on the offense of about he seemed, confident that Canada was going to have, to accept the deal maybe as soon as tomorrow on a couple of other areas and this will not shock you at all but areas, like Bob Muller's investigation Michael One hundred thirty thousand dollars. Payment like the president was not very. Comfortable then he became a little more circumspect and wanna talk. About it didn't really wanna talk very much about John McCain is is handling of. That but when it came to economic, news whether he was willing to take on China and and his, ability his popularity among, Republicans his potential ability to help boy Republican candidates heading into the. Midterms he was feeling very. Good. Okay I want follow that in just a second Ed by the, way how you doing Margaret and I did, oh that, great great job. Today and a lot of headlines Jeff. Sessions at least today the president feels the has his job until midterms did seem to give the indication it would be. Longer did he or, no Well, we we would have, loved to have made even bigger news but what he did say. Was that basically all the. Speculation. About whether sessions would be gone before the midterms that we can, stop wondering about that that he's essentially, made, up his, mind that fishes. Jeff Sessions is safe in his job. Through the midterm but we asked him you know basically well what it out right after the midterms and he wouldn't say he just wouldn't say I did not read into what he was saying that Jeff Sessions is going to hang onto that job I read into the president handled the answer to that question that he didn't wanna make, that news
U.S. stock futures open lower after Cohen pleads guilty
"And I'm Paul Allen in Sydney and Bloomberg daybreak Asia presented by interactive brokers offering direct market access to products in more than one hundred twenty markets in twenty six countries with transparent, low commissions, low margin loan rates and best price execution. You can visit ibkr dot com. Slash save more for more information. All right. Well, futures pointing a lower by about a third of one percent here in Sydney, Harris things, looking across the rest of Asia. I'm looking at stock index futures for the American indices. Paul
"ed baxter" Discussed on Bloomberg Radio New York
"Best i'm june grasso i'm ed baxter we've been listening to some interviews from the aspen ideas festival and now we're going to take a look at us trade policy with carlisle group co founder and hosted the bloomberg television program peer to peer conversations david rubenstein he spoke with bloomberg's erik scar david president trump has taken positions on trade on china and on multilateral institutions that can properly be described this both aggressive disruptive do you agree with those positions or even the analysis and the arguments the administration has made to support them i haven't studied every single position he's taken clearly there is a lot of controversy with some of the positions he's taken he's a negotiator by trade and i think he feels by setting out certain positions that are tough he can probably get a better deal so we'll see if that works clearly the business community doesn't want to have confrontation on a longterm basis with our major trading allies europe china and others so i think in the end the business committee would like to see these resolved peacefully and and successfully but i don't know where that will come out but i wouldn't say anybody is thrilled to see confrontation i don't think the president's throughout the but we want to get something done but ultimately be good for the us economy and do you think as a matter of principle approach like that is a better approach than the one previous presidents have taken whether those presidents be obama for w bush will tell it wouldn't be approached that i would take but i'm not president i'd states nobody voted for me so people voted for him so he has the right to try his approach obviously it's a system where it congress has some involvement and other people have involvement as well but it's an approach i don't really think that we're going to go to a long term kind of tariff war i expect i don't think that will happen i think in the end these things will get resolved and negotiated but like bismarck one said things you don't wanna see being made or legislation and sausage and he might have added trade negotiations as well now trading goshi actions can be complicated and i think it's gonna take some time david if i look at carlisle i see a firm that is a product and beneficiary of what we might call the post war system of global trade and investment that's correct and you even base the firm in washington right you're as close to the power structure is is any in your industry it makes me wonder whether carlisle needs to contemplate or at least consider the need for a change in strategy if in fact the president if the president is successful in what he appears to want to do which is to dismantle that post war in part or undermine the postwar system of trade and investment but the president wants to do and i'm not his spokesman i can't speak for him is to improve the system we have to make it more equitable if he can do something along those lines that would be good but we don't wanna albacete ruined relationships with our allies or impair relationships with people like china or countries like china and i don't know that that will happen it's right now it's an early stages we'll just have to see how it goes hurriedly i think there's a lot more than it has to be negotiated before anybody can be satisfied with what's going to happen i don't really see in the end a longterm tariff war going on now what about the investment climate how would you describe it right now the investment climate is cautious because prices are very high air industry prices are high and there's a little bit in the nosebleed category when you pay the kind of prices that finish now has to pay the other hand the returns have been good and the economy's been good so it's been a possible to exit a pretty good prices so right now investors are reasonably happy with our returns and with turns peers i think as long as economies is in pretty good shape i think that will continue now at some point comedy may not continue at this pace forever but right now i don't see any sign and we don't see any sign of a slowdown or economic recession it doesn't feel to you like the cycle is nearing its peak i.
"ed baxter" Discussed on Bloomberg Radio New York
"Bloomberg best i'm june grasso i'm ed baxter now we're going to get back to a conversation between david rubenstein cofounder of the carlisle group and host of the bloomberg television show peer to peer conversations and robert f smith ceo and co founder of vista equity partners how do you go from working in the engineering of these various companies to a financial engineering of goldman sachs is actually a quite an interesting story i had done very well with top student for our first year in business school so i had to come back for the summer graduation get this award and as they went through my background there is a gentleman by name john newton doll who ran his own investment bank at the time who was the keynote speaker and he comes over to me after they give you my word he has a speech you say you have really interesting background have you ever thought about a career in investment banking and i said well i said there's a bunch of former investment bankers in my class i don't like any of them and he says well why not i said well they think they know everything in a pretty arrogant i said you gotta understand i'm an engineer we do know everything it bothers us and he chuckled i was happy that he didn't take defense due to my joke but what i did was i said you know honestly i don't understand what investment bankers do you know i was a scientist i was technologist i you know i thought about the world through that lens and this is another case where someone extended themselves for me which is why it's important that i continue to pay that forward and he says watch it come to my office and this talk about it so he invited me down and we sit down and we have lunch he picks up the phone and david calls people like staying on neil okay at the time is a cfo maryland's ultimately ran merrill lynch and cans and prominent african american bishops african american business leaders and all of them took the meetings and from there they introduced me to other people to take meetings i literally had over one hundred interviews in the fall of my second year in business school and figured out that mergers and acquisitions was the only business i wanted to be in an investment banking and i said because with the exception of warfare it's how assets transferred on this planet it's a ceo level discussion board of discussing this a strategic discussion and that was quite interesting to me and i thought i could add particular value and insights into into that particular business three jobs you had before you went to business school did you feel any discrimination against you because you're african american oh yeah i i it's one of those in america i have and still do you know i remember a time when i was actually at air products now is invited to give a talk in california in san francisco at one of the big conventions in this this man comes over and he he asked questions about well how does it work in extension of life of rice and cooked rice and i'm telling you about what they explained that the the dynamics the biology and the organ and not elliptic issues you have to think about in addition to the microbiological issues the guy said you know you're very smart guy you just have your heritage to overcome in order to be successful in business and you know that kind of stuck with me at a time that you know after all of this wonderful work that he still viewed me through that lens as opposing the work that i had done you went to columbia business school and i assume.
"ed baxter" Discussed on Bloomberg Radio New York
"And fortynine as boss of los blancos for winning percentage close to seventy percent while winning nine trophies cleveland cavaliers golden state warriors playing game one of the finals tonight the fourth straight year the two teams have represented their respective conferences with the warriors having won two of the previous three meetings could news over cleveland for kevin love in the lineup after clearing the nba's concussion protocol major league baseball scoreboard local teams in action we're in a rain delay right now baltimore orioles hosting the yankees bottom the second cubs and mets are scoreless earlier oakland tampa bay seven to three were in the first inning washington and atlanta scoreless as well coming up here in a little bit boston is at houston those the local teams in action in of course major league baseball i'm dan schwartzman that's your bloomberg nbc world sports update back to you doug danny what's your prediction for the nba championship you've got a friend in ed baxter tell you that all right coming up here on daybreak asia the latest on the resignation of the ceo and samsonite and the latest on market action after a sell off in the states a little bit not as dramatic as some feared we'll tell you all about it when we continue this is bloomberg are you ready to fall in love one eighty over one eleven and i had a stroke i couldn't speak walk this is high blood pressure get back on your plan galore to lower your hp dot org brought to you by the american stroke association american medical association.
"ed baxter" Discussed on Bloomberg Radio New York
"June grosso and i'm ed baxter welcome to a special memorial day edition of bloomberg best william dudley took the helm of the federal reserve bank of new york in the middle of america's worst financial crisis since the recession and as the former goldman sachs chief economist prepares to step down from his role he says he's optimistic about us growth he's doug with bloomberg news editor in chief emeritus matt winkler earlier this month in new york they began by discussing what could be deadly greatest legacy to creation of the secured overnight funding rate the likely successor to lie bore you introduced this secured overnight financing rate as an alternative and i think a lot of people in this room and around the world would like to know right now just how committed is the fed to seeing the secured overnight financing rate adopted and will replace live or which has two hundred trillion dollars notional andrew bailey was the chief executive prudential regulation authority he insisted that there's no compulsion to publish library beyond two thousand twenty one absolutely committed to the security overnight funding rate for variety of reasons one we need a rate that's what's called i ask oh compliant others that has is based on actual transactions the security overnight funding rate represents the treasury repo market which is a really deep and liquid market and so that we know the rate actually reflects transactions in the marketplace unlike library where a lot of the transactions are very few transactions especially in the longer tenors like three months library which is actually the use for basis for many financial contracts so there's two problems with live were number one not always rooted in transactions depends on expert judge it judgment as we saw during the library scandal that expert judgement creates incentives to manipulate to cheat to try to distort the the submitted rate we think the security overnight funding rates since it's based on transactions much less risk of that the second thing is what you noted libraries going away banks are basically being compelled to continue to submit lab by the bank of england but that's not something that they want to do because they recognize that there's flaws with library as.
"ed baxter" Discussed on Bloomberg Radio New York
"Ball so that is what i expected to happen bad offset by two goods and they did well on cash flow which is top priority for most people s and p five hundred index down twenty three down nine tenths of one percent the dow down two hundred two down eight tenths of one percent nasdaq down one point three percent global news twenty four hours a day on air and a tick tock on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm charlie pellett this is bloomberg bloomberg best bloomberg best is about the insight and the context get from our guests it's a great way to catch up on some of the stories you might have missed on the bloomberg stories you're not going to find in any other news organization bloomberg best bloomberg's best stories of the week powered by twenty seven hundred journalists and analysts in more than one hundred twenty countries around the world also i'm ed baxter on this edition of bloomberg best imf chief economist maurice ops fell explains how trade threats could hurt local growth of course of all the threats out there are are implemented and if things indeed get a lot worse than we could see notable effects on not only us growth with global growth kevin hassett chairman of the council of economic advisers discusses nafta everybody's optimistic that with nafta things are going to move forward and it'll be a really good deal discovery ceo david zaslov defends the company's eleven billion dollars scripts acquisition quite comfortable and putting these two companies together and was synergy gives us the opportunity to we have a target of doubling our free cash all this and more coming up in the next hour of bloomberg best since taking office in february south africa's new president cyril ramaphosa has faced a host of challenges ranging from drought to a softening economy he spoke with bloomberg's guy johnson earlier today i was in south africa a month ago but does the sense of optimism around your presidency is is incredible now you talked as you campaigning for the job bat about south africa being a three percent economy this year three percent gdp economy this year is that gonna happen well we certainly wanted.
"ed baxter" Discussed on Bloomberg Radio New York
"Generation you should probably stay away from tokyo are both houses of us congress vote to fund the government and the shutdown funding until february eight democrats split on whether leadership did the right thing on the laying the debate on immigration bloomberg's jodie snyder says boy it was that and they have no assurances from the white house or a house speaker paul ryan that they would go ahead with the vote on the immigration issue as well yeah republican leader mitch mcconnell promise to bring the issue to the floor but you know when the promise to vote to the president says and said what he's going to do britain's army chief says britain as does not have the ability to withstand an outside attack and respond appropriately tokyo taking part in the drill to prepare for the possibility of an incoming missile a hong kong bookseller was secretly detained in china has been taken away by chinese authorities again the daughter of a gleaming hi his uh his on a trained with swedish diplomats when police officer seized him global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries in san francisco i'm ed baxter this is bloomberg juliette and thank you so much let's continue our conversation with zimmi devalue ahead of japan economics merrill lynch securities on the line from at tokyo so as if we were talking about the boj decision the fact that download expecting any change and of course have been talking about even if the va b o j i should say does tweak the 10year yield target it may not be too much of a change to that yield curve control programme what is it going to take in your mind.
"ed baxter" Discussed on Bloomberg Radio New York
"Hour when the cash market does shortly after the cash market in tokyo begins trading the 10year last quoted in new york at two fifty five so the news coming out of a well it or centering on the nafta talks brought the down from two sixty two 255 so a lot going on in the markets we'll talk more about what's happening in commodities coming up here on daybreak asia right now though we want to get you caught up on global news and will go to san francisco for that to the bloomberg 960 newsroom and ed baxter at night doug thank you presidents of south korea in the us agree they will meet with kim jong un under the right circumstances south korea says it has a sure ince's from the us there'll be no military action as long as talks are going on you as president trump seems to walk back from saying he would sit down with special prosecutor robert muller saying he doesn't think there is a need for it on immigration he backs away from saying he will sign anything presented who him by a bipartisan con are saying that there must be a wall that it is a red line china's president she has been meeting with leaders of nordic and baltic countries and beijiang he says these forging new strategic partnerships throughout the throughout the world the iranian oil tanker that has been burning in the east china sea off shanghai has offered has now suffered an explosion firefighting and rescue efforts have been suspended global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries in san francisco i'm ed baxter this is bloomberg guys all right i'll take it here it's time for the tea leads review or the media report however you want to call it a lot of this comes from the official media in china so it's sometimes is a forerunner of what actually happens from the securities times china should increase yuan on rate twoway flexibility piece by widening the band the on the two percent swing either side of the daily fix for the currency set by the pboc from the china business news that shell me may list in hongkong with a dual clash shares xiaomi could be among.
"ed baxter" Discussed on Bloomberg Radio New York
"Bloomberg 960 newsroom eddie i'd doug thank you tax overhaul bill is passed the house with a procedural flaw that will have the senate sending it back to the house for a vote tomorrow the senate debating now still expected to vote on it tonight now washington dc time so we'll see what happens china responding to the us decision label beijing strategic rival by saying the us needs to accept china's rise japan's prime minister ave meets with south korean foreign minister kong admitting issues but wanting to work together saudi arabia says its air defenses intercepted a ballistic missile fired by your many rebels before it could hit its target of the royal palace in riyadh lom security officials have released who videos to help residents prepare for emergencies including a nuclear missile attack global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries in san francisco i'm ed baxter this is bloomberg juliet and thank you so much are we are joined in singapore are now by the abbas region on direct at line light networks the here thanks so much they coming in now your race instead say they of outside the secure he shied that alarmingly only twenty one percent of consumers feel quite extremely confident that business is doing enough to protect them against cybercrime he says really one of the biggest threats facing in this new world so essentially what can businesses is to make him seem as well protected your he was really really an not feeling confident that businesses are doing enough in terms of protecting their personal information and their transactions online so in a recent survey that redid on cybersecurity as in southeast asia in 2017 it is very clear that businesses need to improve our improved their measures on cybersecurity they need to provide the confidence to consumers that they are doing and f in terms of cyber security measures i guess consumers are a little complacent because most of the time when they see losses they're made hole by the company that they're dealing with riot yes that's right abide id the sentiment has been changing in the laws in the last twelve months at 24 to trout at 1224 mons as we see more and more attacks happening more and more businesses.
"ed baxter" Discussed on Bloomberg Radio New York
"Bloomberg ben kiernan brings us to 507 on wall street the latest on the travel ban now from bloomberg john tucker good morning good morning to you bob the trump travelled bear may proceed in full force this according to a ruling from a divided us supreme court records this report from bloomberg ed baxter this differs in that advance people who even have relatives our business connections in the us bloomberg's greg store says it does deal with mostly muslim nation air muslim countries as well as some people from some government officials from venezuela and people from north korea each country they restrictions are slightly different greg says there is no mention of the arguments in the case there are several hearing scheduled for this week regarding the ban but for now it can be enforced as the president has wanted in san francisco i'm ed baxter bloomberg daybreak doing to them against received a subpoena from the us vessel counsel robert muller seeking information about certain financial emblem transactions we at the family of president trump this according to a person briefed on the battered the subpoena received several weeks ago obliges germany's biggest lender to submit documents detailing its relationship with mr trump and his family president trump in utah monday announcing his cutting land from two national monuments there with the action i am taking today we will not only give back your voice over the use of this land we will also restore your access and your enjoyment.
"ed baxter" Discussed on Bloomberg Radio New York
"Into 2018 after an initial sales drag from hurricanes harvey and perma an update for stocks sp 500 index advancing to a record of twenty six to twenty four 88 i gained one point one percent dow industrials up two hundred fifty nine of one point two percent nasdaq up seventy two a gain of one point one percent i'm charlie pellett that's a bloomberg business flash bloomberg best with russell in ed baxter continues it's forty eight minutes past the hour and now it's time for bloomberg view i'm ramesh narrow a columnist for bloomberg view senator dianne feinstein and other democrats are going after amy conybeare it a law professor at notre dame university who's the nominated to a federal appeals court day question whether she can fairly ply the logged in the strength of her catholic convictions but the criticism of her is based on highly misleading report by leftwing advocacy group the alliance for justice that report repeatedly distort spirits quotes to make her sound extreme there it is written for example the catholic judge who opposes the death penalty may need to recuse herself from some capital case is in that way she can honour conscience while the law still applied the alliance twists sir words to make it sounds though she would set aside the law in favor of the dictates of her face what really worries feinstein is that there may adult to allow legislatures to restrict abortion prepared to do that even if she's confirmed limited by supreme court precedents but some of the left consider the risks so severe they're willing to mangled a truth to avoid it i'm ramesh canaria for more view please go to bloombergviewcom or view go on the bloomberg terminal thank.