36 Burst results for "Ed Baxter"
"ed baxter" Discussed on Bloomberg Radio New York
"I'm Ed Baxter And I'm to these Pellegrini Welcome to Bloomberg well with David Rubenstein part of our best of Bloomberg series Now in this episode we hear from Don Fitzpatrick chief executive and chief investment officer of Soros fund management And she says the fed waited too long and to act And she also talks about why it's important to be flexible about your investment goals and your rate of return And here is David with Fitzpatrick starting with a look at the inner workings of the office of one of the world's most high profile investors Let's listen in What is it like to be the chief investment officer and chief executive officer for Soros fund management He's one of the most legendary investors of the 20th century And I guess maybe the 21st century to see call you every day and say do this do that Are you basically have the ability to make the decisions you want Well I literally just got off the phone with him So while George now spends the majority of his time on the foundations especially with everything that's going on geopolitically he's still watches markets and there are things that catch his attention And he'll call and share views with me and I really kind of cherish those calls and value his input And working here is really a privilege We run just shy of $30 billion effectively for a single client which is the foundations that George started the open society foundations which are the largest private funder of human rights causes around the globe So especially in times like now with Ukraine they do a tremendous amount of really important work So it's a privilege to work here You've previously worked for publicly traded companies so is it easier to work for a private company a private family because you don't have to worry about the stock market every hour on the hour Absolutely That's where I spent 25 years at UBS before joining Soros fund management And they were great 25 years but they were definitive constraints when you're working for a publicly traded company especially a really highly regulated bank And when I was there I ran the investment side of the asset management business We had thousands and thousands of clients and hundreds of different products that I oversaw So in that capacity there are real constraints in terms of what any given investment mandate is Versus here we really have a very very wide remit So how does the process work now at Soros fund management You're the CEO and the CIO So do you tell your team this is what we're going to do and they say yes we're going to do it or they come to you with ideas and you say maybe yes maybe no How does it work Yeah so we have a top down asset allocation So a general idea on where we want to be overall on our overall global equity exposure or fixed income exposure but then we have over a hundred internal investment team members and they all have investment mandates and they'll come to me so they have degrees of freedom within that mandate but very often there will be an idea they like for their mandate but instead of buying a 100 million they want to buy 500 million And that's when we have the conversation about whether it should be upsized And one of the things at SFM we can do is because we can invest across any asset class in almost any geography we can really connect dots and operate in the spaces in between where the typical asset management industry can go So George Soros is very famous for among other things saying if you're going to really good idea pursue it to the extreme In other words put a lot of money into something Famously he did that when he helped break the British pound in 1992 I think it was So does he influence you in that way if you have a really good idea of somebody has a good idea You say we're going to put a lot of money in or you try to be risk adverse and not put too much any one thing When I came here 5 years ago George had not been involved day to day for a while and interesting the portfolio I inherited was over diversified And when you have an over diversified portfolio you're like guaranteed mediocracy So over the past 5 years we've really tried to streamline the portfolio And definitively one of the things we spent a lot of time on is making sure our best start ideas are right sized One of the interesting things that when the investment world is a lot of times and I'm sure you see this the best ideas there's a limit to how much you can actually buy right They're not the capacity of them is not infinite So usually that's the constraining factor is the sheer amount available So for the large amount you're managing let's say it's 30 billion or something like that Do you have to try to get a certain rate of return every year Do you have a benchmark said we want to earn 9% 10% 11% a year or whatever it might be higher than that perhaps What is your benchmark you're trying to earn So the foundation this year the foundation will give away about $1.8 billion So we like to make enough money to fund their good work But I would say when it comes to targeting a return it can be a little bit dangerous because your opportunity set is not always equal And if you target a fixed return you'll take too little risk when the opportunity set is.
Fresh "Ed Baxter" from Bloomberg Daybreak Asia
"In the oil patch here in the U.S. we ended up finishing New York trade off about 1.8% on the bullish side. U.S. government reporting a drop in crude inventories, however, if you look at gasoline demand, Vis-à-vis the four week moving average, we're at the lowest seasonal level since 2014. U.S. rates drifting a bit lower across the curve, the assumption here is we're going to see a lot more economic weakness going forward, ten year treasury now 3.08%, a two year at 3.03%. More on markets in 15 minutes. Let's check in with Ed Baxter next for a look at global news headlines at all I can do Doug, thank you January 6th committee subpoenaed pat cipollone White House counsel for Donald Trump focus of yesterday's testimony as having information on Trump, not offering help under siege China's
"ed baxter" Discussed on Bloomberg Radio New York
"This is Bloomberg best on Bloomberg radio I'm Ed Baxter And I'm Denise Pellegrini All right Denise we just heard a bunch of reasons why we should be worried about the economy from the CFO of Deutsche Bank We'll slightly more pragmatic tone is what we got though from Ed yardeni president of yardeni research Now he tells Bloomberg's Tom keen and Lisa Abramovich there's a lot to worry about but possibly no need to panic The key characteristic here is for the stagflationary environment that we've inadvertently walked into I mean we've had two years of helicopter money and that was the easy way to deal with the crisis of the pandemic But now we're paying the price for it with the higher inflation So I think that's the big difference The stock market can't have a tapering tantrum here and expect that the fed's going to respond because inflation is much more severe than the past three they bring tantrums And Jordan how will corporations adjust How do corporations adapt given these economic events Well look I know there's a lot of concern here that the risks of recession have increased And it certainly have increased In my mind they've come up from 15% before the war in Ukraine to 30% But one of the reasons that I'm not convinced yet that we're going to fall into recession here is the consumer sectors in a very good shape and to your question the corporate sector is in phenomenally good shape You know they raised over $2 trillion in the corporate bond market for that financial corporations have And they refinanced a tremendous amount of their debt at record low interest rates So as the feds raising interest rates here there's still plenty of liquidity left over from the past two years of helicopter money So you said that there's about a 30% chance of recession It's gone up since the start of the war In the U.S. and this year or is that through next year what's your time frame here Well I think you know if you asked me about Europe it's more like 50 60% the way it's going especially with this latest collection For this year For this year yes For the 30% I think it's more next year than this year the leading indicators are still at an all time record high telling us that there's no immediate risk of a recession Do you know the stock market certainly acting like it Well do you agree with Bill Dudley and some others that if this ongoing momentum continues that it will result in a more severe shock later on a more severe crash later on simply because inflation won't get contained and it will become more entrenched Not really I mean if you look at the history of inflation it doesn't just keep going up and up and up It's very spiky Even in 73 and 79 we saw these spikes in inflation And then they moderated You know the arithmetic of year over year percent changes is that when they are increasing at a very rapid rate compared to the past at some point the arithmetic starts to slow them down And I think we are going to see some moderation here in consumer durable goods inflation which has really been the heart of the inflation problem I think we're satisfying a tremendous amount of pent up demand Services have been relatively moderate The problem is within the services area the rent inflation for the next two years is going to be going higher So I think we're looking at higher for longer inflation And a completely unfair question but I want to synthesize the original Yale University study of fiscal economics which folks was literally a franchise of New Haven for decades We've got the mother of all fiscal stimuluses and then we bring it over to the monetary side almost Milton Friedman like to an inflation study What is your perspective of the duration of excess inflation given the fiscal impulse we've lived Well my forecast is higher for longer inflation but that doesn't mean it's not going to come down It's just going to mean that I kind of seriously I seriously doubt we're going to see 2% inflation anytime soon again not in the next 12 to 24 months But will it come down to three to 4% next year using the consumption deflator I think so Is that doable I don't mean to interrupt but this is critical that you're dining Can this nation can our viewers and listeners survive a sustained 3.5% inflation I think we may very well learn to live with it We've learned to live with COVID I think we're going to learn to live with three to 4% inflation But it's not necessarily something that's going to persist forever I mean that's sort of my outlook for next year And for the financial markets the stock market and the bond market just seeing a peak in inflation let's say by the middle of the year early summer would be very helpful As we talk about these big macro developments and this idea of the fed hiking rates I do go back to this case against Bill weng of archaic this idea of leverage in the system And this is unique and obviously he's being accused by the U.S. attorney's office in the southern district of New York of criminal acts but it does raise a question about what else is out there with respect to leverage whether we respect to our visibility How are you viewing that in terms of what we can expect in the upcoming months Well you know as we all know the Federal Reserve is so far increased the fed funds rate by 25 basis points and where the range of 25 to 50 basis points And yet the markets are already discounting that there's something going to break here when the fed really starts to move more aggressively and everybody expects it in the early May meeting that the fed's going to go and go ahead with a 50 basis point increase And the markets got this jitters like something is going to break and I see just I see like $3 trillion of extra liquidity left over from the past two years of helicopter money But the markets have their own agenda Well they don't need to be To take that a step further and do you think that the safeguards in place to avoid something catastrophic or some sort of systemic meltdown stemming from leverage really are secure enough to prevent that kind of action that perhaps people are taking the wrong lesson from previous times because this system is much safer Is that your interpretation Well at the risk of being dead wrong that is my interpretation that the system is more robust The banks are in great shape Corporations are in great shape consumers are sitting at a tremendous amount of M two and most of it is in demand deposits Look not everybody's well off and doing well I mean clearly inflation is eating eroding everybody's purchasing power But in terms of something breaking and the credit system I just don't see it I'm watching the junk bond yield to see whether that's going to signal some real serious problems And so far it's pretty calm And we're going back to Arthur burns inflation Rate moves 50 beef some people talk 75 beeps as well Did that work out the last time Well the burns environment of course is what we go to to look at the fed raising interest rates too little too late And then eventually Volcker came in in the late 1970s and just let it rip let interest rates go up to levels that cause the recession I mean we do know that recession is always bring inflation down But whether we can achieve a soft landing is the big controversy here I suspect that we either do or we get a real short and moderate recession Again because I think the system is relatively robust And that was Ed yardeni president of yardeni research with Bloomberg's Tom king and Lisa Abramovich And.
"ed baxter" Discussed on Bloomberg Radio New York
"Now You've got a bit more detail actually on Andrew baby His Bloomberg's Samuel etchen good morning Good morning Caroline I do and let's start with the banking England governor Andrew Bailey he says governments should be prepared to accept economic hardships as the price for forcing Russia to end its war in Ukraine What Russia is doing in Ukraine as a polling which is why I know that walked out It's appalling And I think it's important that they understand there should be no appeasement of Russia because we have to deal with economic problems as a consequence of what's going on We just roll our sleeves up and deal with those And that's the right thing to do Hard though it can be at times Speaking on the sidelines of the IMF meetings in Washington he delivered his strongest warning yet that the UK's escalating cost of living crisis may tip the nation into recession Bailey speaks again later today And here in the UK consumer confidence has plunged to the lowest level since the recession in 2008 Monthly reading of consumer confidence has dropped to -38 for the month of April The number a decline of 7 points on the month was well below the forecast from economists That leaves the outlook for personal finances and the general economy worse than during the depth of the financial crisis And as the war in Ukraine entered this third month the U.S. has confirmed its sending ghost drones to the country Bloomberg's Ed Baxter has the story Pentagon spokesman John Kirby says ghosts will work well in Ukraine In discussions with the Ukrainians again about their requirements we believed that this particular system would very nicely suit their needs particularly in eastern Ukraine And President Biden says the military help is very large The United States alone has provided ten anti armor systems for every one Russian tank that's in Ukraine Biden says help is on the way In San Francisco I met Baxter Bloomberg daybreak Europe Meanwhile the U.S. is sending Ukraine another $1.3 billion in arms and economic aid of the new package $800 million will go towards weapons And again here in the UK another investigation is going to be held into party gate Boris Johnson will face parliamentary ethics inquiries into whether he lied to parliament over the scandal Bloomberg's Charles capel reports MPs backed a labor proposed motion for the prime minister to be referred to a parliamentary committee to investigate whether he misled lawmakers over the events in his and other government offices during lockdown MPs approved the motion without a vote after their government abandoned its bid to delay it until after the police finished their own inquiry and an internal report was published Ministers found to have lied or expected to resign although there is little chance of Johnson doing so Still the inquiry undermines Johnson as he is on a trip to India and will prolong the uncertainty over his position In London Charles K four Bloomberg daybreak Europe And that's global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries I'm Samuel Etienne this is Bloomberg.
"ed baxter" Discussed on Bloomberg Radio New York
"At IBKR dot com slash global Schrader Up first an update on talks from Russia the Kremlin says a neutral Ukraine with its own army is a possible compromise option The announcement comes amid continued to shelling in Ukraine and negotiations happening today between Russian and Ukrainian leaders Meanwhile President Biden expected to announce more than $1 billion in Ukraine military aid today Bloomberg's Ed Baxter has that story This will come from the 13.6 billion in aid that was passed by Congress and will provide anti armor and anti air systems that include javelins and stingers as well as Secretary of State Antony Blinken as saying it will complement the humanitarian aid already being sent This comes as Ukraine's president volodymyr zelensky is scheduled to address Congress today in San Francisco I'm Ed Baxter Bloomberg daybreak And thank you staying in Washington and interest rate high coming from the Federal Reserve for more years Bloomberg's Vinny del giudice Economists say the fed will raise its benchmark interest rate by a quarter point the first rate increase since 2018 U.S. inflation is running at the highest levels in four decades and gradual tightening will probably continue Bloomberg economics as in more normal times such inflation data would support a larger fed rate increase a half point increase Any delta Bloomberg day break All right thanks Vinny Another fed note President Biden's nominee for fed vice chair of supervision Sarah bloomer asking withdrew her candidacy after West Virginia senator Joe Manchin said he would not support her And turning to markets now John U.S. futures and European equities are higher in China's hang seng index gained 9% after the country vowed to boost financial markets and stimulate economic growth Now to COVID Pfizer asking U.S. regulators to approve a second coronavirus booster for seniors with the latest live Here's Bloomberg's ready to young Good morning radio Good morning John Pfizer says Israel already started offering a fourth shot to older people and healthcare workers last year and the data shows the fourth shot given at least four months after the third reduced the rate of infection and severe illness that's compared to those with one booster Live in New York I'm renita young Bloomberg day break All right ready to thank you And that's the 5 things you need to know to start your day brought to you by interactive brokers Again S&P futures higher up 55 points this morning and straight ahead your latest local headlines plus a check of sports and this is a Bloomberg All right thanks Karen 6.
"ed baxter" Discussed on Bloomberg Radio New York
"I'm Ed Baxter and I'm Denise Pellegrini Ed and sarnath is one of the most powerful executives in the entertainment business right now Now she's chair and CEO at WarnerMedia studios and networks group And she tells Bloomberg's Lucas Shaw the film business is still trying to recover from the pandemic So here she is at the Bloomberg technology summit It is a work in progress You know everyone was hoping we would be on the other side of the pandemic by now but unfortunately with Delta and acron we were kind of having to live with it for a while longer But thankfully people are going back to theaters not everybody but certain demographics certainly are showing more of a willingness But for us to really get back in full swing we need the broader spectrum of ages and tastes to go back to the theater Who are those who are more willing and who are those who still seem to be resistant Probably you would guess the answer to that but it tends to be younger people and I'm going to say below 35 As youngish and the opposite over 35 we're not seeing as much of an inclination to run back to theaters But certain movies we think they will come back but I think it's going to be a gradual thing where people have gotten used to because of the pandemic And because of trends that were happening before the pandemic with amazing content now being delivered in the home And high quality content And bigger screens And then the pandemic kind of accelerated the needing to sit on your couch and not being able to go anywhere So I think that's the biggest competition of the theatrical the exhibition business is sitting in one's living room and having that content be good enough So you have to compel we all have to compel we the theaters have to compel people to come out you know buy the tickets enjoy the popcorn head out with the family and watch movies again on the big screen And it is no surprise that the movies that tend to get people out of their homes are the big action adventure movies superhero movies certainly horror movies people tend to like to be scared together Not me personally but that is a thing So those genres are doing well and better than others but I really hope it goes beyond that Is it possible you talked about the mix of people who will and won't go Can you release one of those big $200 million movies right now Justin dieters and expect that you'll make money from it We are about to start doing that in 2022 As you know we stated that we would go back to an exclusive theatrical window 45 days with our 2022 slate And we're certainly hoping to again we're coming out of COVID but a little bit of a Hubble stuff But we hope that as people get used to going to theaters go to one movie then that gets them to go to another movie We hope that we can And of course it's not just the theatrical It'll be kind of the whole value chain if you will of monetizing the movie and overseas We've got a bit of a patchwork of people in theaters people not in theaters So as a whole we're hoping by next spring when we have The Batman release that will be in much more of a full attendance situation Given a Macron and just have this seeming drift in the pandemic it seems like cases are spiking again and a lot of the world Have you guys given any thought to revisiting that plan for next year and because this year you guys were the studio that really put your stake in the ground and say we're going to release all of our movies at home and indeed is at the same time It was a very controversial decision It now looks rather prescient Was there any thought of extending that to next year Well in terms of background of how we got to the strategy for 21 we had released a big $200 million movie in the pandemic summer of 2020 Christopher Nolan's tenant And we're actually quite pleased with the results We had 363 million of box office and the pandemic was making everybody kind of wobbly New York City in LA were not open markets So to actually launch a big feature movie in markets that didn't include New York and LA was quite old but and also to get that box office result was very successful But then as the year went on 2020 you remember we got the cold in certain parts of the country and people started spending more time indoors and then we got the rebirth of COVID And so looking at 17 movies that we had ready for 2021 first starting with Wonder Woman 1984 we just didn't see honestly a way to put them in theaters only Because there was just so much up in the air So we decided to put those movies in theaters and on HBO Max day and date in the U.S. for 31 days The rest globally in theaters where they were open Sometimes theaters weren't open So we put them on premium VOD And you've been listening to end sarnoff.
"ed baxter" Discussed on Bloomberg Radio New York
"These headwinds in blueberries Good morning Good morning Caroline Boris Johnson's sudden U turn over Owen Paterson is riling some of his backbenchers who we're told resent being forced into a plan they knew was unpopular Patterson resigned after the government backtracked on its vote to block his suspension and overhaul the MP's standards watchdog commons leader Jacob riis mock hinted at why Last night's boat has created a certain amount of controversy It is important that standards in this house are down on a cross party basis Labor will put up a candidate for the by election after opposition parties discussed an independent anti sleaze candidate In the U.S. the house plans to vote today on president Joe Biden's $1.75 trillion economic package and a separate infrastructure Bill The vote follows months of intra party tension and last minute negotiations by speaker Nancy Pelosi approval of the infrastructure measure which already passed by the Senate will send it directly to Biden's desk Also in the U.S. the Justice Department has filed a lawsuit against Texas regarding voting rights Bloomberg's Ed Baxter has the story Justice says they are restrictive This is the legislation passed in September the DOJ says a legislation improperly prevents voters from getting assistance when they have basic questions or need help with things like translations Assistant attorney general Kristen Clark said in a statement restrictions on which absentee ballots can be accepted are unlawful and also indefensible Texas governor Greg Abbott said the legislation helps ensure confidence in elections In San Francisco I'm at Baxter Bloomberg daybreak here up And in the post Brexit fishing spat France has praised the latest round of talks with UK Brexit minister David Frost Paris says the size are keeping dialog and options open but a solution over fishing licenses has yet to be found talks will continue next week Global news 24 hours a day on air and Don Bloomberg quick take power by more than 2700 journalists and analysts in more than a 120 countries I am a George This is Bloomberg Anna Hannah thank you very much for that Now still ahead on Bloomberg daybreak here at time to check the toolbox the U.S. might need to tap its emergency oil stocks after the OPEC plus decision fell short of its supply requests We'll have the full story for you OPEC deciding.
"ed baxter" Discussed on Bloomberg Radio New York
"Ed Baxter is in the Bloomberg 9 60 newsroom in San Francisco focused on Moderna. Yeah, that's exactly right, Doug. New research shows it's vaccine does protect against the Delta variant, the company says as well. It produced antibodies against all tested variance, Doctor. A mesh Adalja with the Johns Hopkins School of Medicine. Bloomberg School of Medicine says This doesn't mean that there will be no new cases but will prevent the severe ones. What we're trying to do is make it like another respiratory virus that we deal with year in and year out that causes some hospitalizations that causes some deaths. But it's something that we're able to handle much better and I think that's where we have to go, is moving away from that covid zero idea. But Dr Adalja says people have to get vaccinated and Bloomberg's health reporter Michelle Cortez, with says without high vaccination levels, But the bottom line is that we do not want to have this virus continuing to certainly, and as long as we have people who are unvaccinated and vulnerable, we will have this virus, Michelle says. Some areas of the US South, for example, have Only 20% vaccination rate. India's drug regulator is cleared Madonna import Some details still have to be worked out things like Indemnity. Japan's government is planning to extend its strong virus measures even further getting into the beginning of the Olympics. New York Welcome ranked choice Voting. Today's data dump shows the race tightening dramatically, with Eric Adams now holding two point lead over Katherine Garcia. Last week. The lead was nine points, Garcia past Maya Wiley, and there's still 125,000 absentee ballots to be counted. So there is a path forward for Garcia. But the caveat there is that most of those absentee ballots come from districts where Adams was leading a top U. S military commander in Kabul says the country could slide into civil war and face very hard times unless Taliban factions are controlled. And regarding the raids of Iranian supported strongholds by US drones. Earlier this week, State Department spokesman John Kirby said today. It definitely had to happen. Clearly These attacks were ongoing and so These strikes were designed to get Specifically at the kinds of threats that were coming at our people. Kirby says Iran's militia needs to stop its attacks, Japan's number two defense official laid out the increasing threats he feels from unseeing from a more assertive China. It includes longer range missiles, more frequent airspace incursions. Yeah, so he D Nakayama, saying that's already possible for them to hit the U. S coast in the White House. He also says The moves on Taiwan are of great concern, and the seaside Florida condominium collapse now has 11 confirmed deaths. Still more than 150. People unaccounted for. Now there is still concerned about the sister building to that of the one that collapsed. Miami Dade mayor. For example, Daniel Levine. Cava says that concern.
Olympic Athletes Promised Legal Support if They Protest
"The IOC is ruled that athletes who make political or social justice protests at the Olympics well, that they the slogans they say, like a black lives matter will not be allowed. And now the athletes have been promised legal support by a global union and activist group in Germany and San Francisco. I'm Ed Baxter, This
Can Trump be barred from holding federal office again?
"New proposal has been put in the mix to center Donald Trump and make sure that he can't hold public office again rather than an impeachment conviction. Let's get to Ed Baxter in San Francisco. Here's all the global news, ed. Yeah, Interesting. Juliette seems to hit about the medal. It comes from Democrats Senator time Tim Kaine, who says it may give the desired results. I'm very worried about going through this trial and having the punch line at the end being Trump acquitted again. That's why we put this alternative on the table. Meanwhile, the impeachment trial is scheduled for next week. Both sides have filed their briefs has predicted the new Trump defense team is focused on their contention that It is not constitutional convicted former president The prosecution says Trump was impeached before his term was over as well. Bloomberg's mark Nick Katz says they reject the incitement argument on its face. He cannot be blamed for inciting this riot that His language at this rally, do not in any way provoke this. And the other element that the defense I's gonna make is that this was preplanned evidence is coming out that you know this. This right didn't happen just on the spot when the president was Speaking near the capital that elements were planning this siege on the Capitol building long before that day. The trial is scheduled for next week.
Biden unveils COVID-19 economic response plan and vows to speed up vaccinations
"Jules well, President elect Joe Biden has announced plans for more economic relief and vaccine distribution. Baden said his $1.9 trillion plan, called the American Rescue plan is designed to spur further economic growth after the pandemic ends the return on these investments in jobs Racial equity. Prevent long term economic damage. The benefits will far surpass far surpassed the cost. Pandemic. A bill spends $400 billion for covert 19 management more than $1 trillion in direct relief spending and $440 billion for communities and businesses. This comes in it more than double the bipartisan bill approved last month and only slightly below the March 2020 cares Act. The rescue plan includes $350 billion for state and local governments. In the coming weeks Bod and will unveil a second broader jobs and economic recovery plan. This plan will also include money for longer term development goals, such as infrastructure and climate change. Well as we've been reporting, President elect Joe Biden isn't waiting for Inauguration Day to start work on the stimulus package. Let's get to Ed Baxter. In San Francisco. For more it. Yeah, it is. A $1.9 trillion packages we've said and is reporting will be broken in the two bills. First, the covert fight and that economic relief now this speech That we just heard was more broad stroke and saying rescue and recovery and saying he'll be laying out specific shortly. This was about tone and asking for unity. The correct course and meet our goal of 100 million shots at the end of my 1st 100 days is president This will be one of the most challenging operational efforts we have ever undertaken is a nation. We'll have to move heaven and earth. Get more people vaccinate to create more places for them to get vaccinated to mobilize more medical teams to get shots and people's arms. Increase vaccine supply. Get it out the doors fastest possible. Will also do everything we can Keep our educators and students safe. Safely reopen the majority of our K through eight schools. By the end of the 1st 100 days, As I say they have been releasing that some of the specific Senate Nancy Pelosi and Chuck Schumer say it will pass quickly. There may be a couple of sticking points, though, innit s so this is what we know. Is there 20 billion on distribute? Excuse me. 20 billion on distribution. 50 billion on testing Also $15 minimum wage $2000 direct aid that includes the 600 that's already out there extends eviction and foreclosure moratorium requirement for employees to offer paid sick leave some day care money in it as well. Are Republicans have wanted liability protection for farmer and employers? They may want that in this, so there's still some debate to be had the Senate will be
"ed baxter" Discussed on Bloomberg Radio New York
"To Ed Baxter in San Francisco. He had Hey, Carol, President Elect Joe and Dr Jill Biden have gotten covert 19 vaccinations doing this to demonstrate that People should be prepared when it's available to take the vaccine. There's nothing to worry about. And meanwhile of interest of the binds, Attorney General William Barr says, sees no need for a special prosecutor into Hunter Biden, meanwhile, also breaking with Mr Trump on election, says It's over. I see no basis now for Seizing machines by the federal government. Now, he says he agrees with Mike Pompeo as well, saying Russia was behind the major hack, not China. As the president says, Ah, lot of worry about the variance strain that has been identified in Britain and the closing of Borders. Prime Minister Boris Johnson says it had to be done. We looked it weather new variant walls where it was Spreading andare acted to restrict it that says he's in meetings with France to try and figure out how to get shipments of goods, especially food through before it becomes critical in the UK, New York City Mayor Bill de Blasio wants action now from a spread across the elastic, in my view is time for a travel ban. From Europe. Given what we're seeing with this new strain or at minimum requirement for testing, and California Governor Gavin Newsom says he's looking at putting a quarantine in place, He says no, very in cases in the state. But that thing's over the 14 Day average, still climbing, and based upon all these trend lines, it's very likely based on those contracts that will need to extend that stay at home or you recall was a three week order. Meanwhile, US is seeing heavy, heavier travel Third day in a row of over one million people. Passing through airline gates in San Francisco. I'm Ed Baxter. This is Bloomberg radio. The following is it's your apartment speaking and I need some favors. When you're singing in the shower. Just try going up a key. You're trying.
China Charges Hong Kong Activists Caught Fleeing to Taiwan
"Around the world. Certainly in China has it formally charges 10. Hong Kong activists caught fleeing to Taiwan. Ed Baxter nurse San Francisco 9 60 newsroom has this global news story in Morehead. Hi, Kathleen 10 actually caught it see while trying to flee in August now Now Now formally formally formally charged charged charged charged with with with with with illegal illegal illegal illegal illegal boundary boundary boundary boundary boundary crossing crossing crossing crossing crossing offenses offenses offenses offenses offenses put put put put put him him him him him behind behind behind behind behind bars bars bars bars bars for for for for for years, years, years, years, years, the the the the the sea sea sea sea sea patches patches patches patches patches and and and and and now now now now now is is is is is increasingly increasingly increasingly increasingly increasingly being being being being being monitored monitored monitored monitored monitored by by by by by Hong Kong and Chinese authorities.
Trump Official Reportedly Pushed for COVID-19 "Herd Immunity" by Letting Young People Get Infected
"In the Trump administration was pushing the president to try and get Children infected. With covert 19 to develop herd immunity. They did not go ahead with that plan, and Bloomberg sources report that, in a private call with Republican senators, Mitch McConnell told down the incentive to pass stimulus. I will help the GOP senatorial candidates in Georgia and China's a focus of more election interference allegations. From the Trump administration, saying that China was it falls in part for his loss in San Francisco. I'm Ed Baxter, this is Bloomberg. Rish. Let's get back now and have a
Los Angeles issues "safer at home" order to curb rising COVID-19 cases
"New Hampshire on the West Coast. A surgeon cases earlier this week is causing concerns about hospital capacity and as California threatening another lockdown. Ed Baxter has the very latest from our Bloomberg, 9, 60 Newsroom and San Francisco. It could start today for some regions, Governor Gavin Newsom says. When I see you availability runs below 15% on a region by region basis when the region is placed in the stay at home category, the bars, wineries, personal services, hair salons, and the like, would be temporary closed for that three week period, most within a matter of days. Los Angeles already issued the order itself this week. San Francisco Bay area most probably within a couple of weeks in San Francisco. I'm Ed Baxter
"ed baxter" Discussed on Bloomberg Radio New York
"With Ed Baxter. He is in San Francisco. Hi, Ed. Hi there. Carol. Bad news. New York City schools re closing tomorrow. We do need to close our schools for the coming days. No one is happy about this decision. We all in fact, are feeling very sad about this decision. Mayor Bill de Blasio says the 3% positivity rate has been reached. He says the city will continue to monitor President elect Joe Biden says as he learns more about what has been going on at the White House. He realizes how little has been done about covert 19. But he says his administration now needs stockpile numbers. At least there's a whole lot of things that just we just don't have available to us. So much has made available soon. We're gonna be behind by weeks and months, and he says Republicans need now to stand up to the president. And there are some cracks. Senator Lindsey Graham has been a strong trump ally, but and I would urge him to give Intel briefings toe Joe Biden. How much further to go? I don't know. We're gonna be fine. At the end of the day. This thing will work itself out. Yeah, but he says it needs to be worked on and he thinks information should be shared. Meanwhile, while lines to get covert tests continue to form announcement that the FDA has approved on new home test now and missed, Dr Brownstein says it's going to be a great success, especially a game changer, especially because the accuracy of this test is over well over 90%, who looks good against other more traditional methods. Dr John Brown Stain ABC contributors has results there at home. You will need a prescription and Democrats are sticking.
"ed baxter" Discussed on Bloomberg Radio New York
"To Ed Baxter again. Hey, Ed. All right, Carol. Hello. There. World's fifth largest economy is put on the emergency brake on reopening moving backwards. California Governor Gavin Newsom. Says Covert 19 case surge is unprecedented and now 94% of the population is of the highest alert and restrictions owns which in the state is purple 40 counties now Will be moving backwards in the state in the original last week tiered status You're 13 counties in purple 22 read. Today We have 41 counties in purple, 11 and red. Newsome says cases have doubled in the past 10. Days of that he's considering a statewide curfew, Newsome says. People need to take this very seriously to make a place where there is a vaccine available. President elect Joe Biden today when asked what will happen if the Trump administration doesn't soon start sharing information. He said. People will die. They say they have this work speed program that not only dealt with getting vaccines, but also how the how distribute this If we have to wait until January, 20th to start that planning. It puts us behind over a month month and a half. So it's important that it be done that to be coordination, he says. Wearing a mask is patriotic. On the transition. Trump National Security adviser Robert O'Brien says there can be an orderly transition. Brian Harris ticket is determined to be the winner and, you know, obviously things look that way now. We'll have a very professional transition.
Azar leads highest-level US delegation to Taiwan in decades
"And Human Services Secretary Alex A czar. He's in Taiwan all kinds off global implications to that visit. Ed Baxter has the global news. Gather. Sure you're absolutely right. Tom, the highest level visit by an American Cabinet officials since the break and formal relations in 1979 how Bloomberg Stephen Angle says it plays into the current U. S. China problems big time This one is not on the military side is more on the health side, but still a high level Cabinet member of the Health and Human Services Secretary Alex Cesar, visiting Taipei, the highest ranking U. S official in decades. Surely to rankle Beijing he's due to meet with the president's science Bang. Along with other health officials. The
"ed baxter" Discussed on Bloomberg Radio New York
"He's a Bloomberg business Flash, so the US equity market pushed higher today on a session where was kind of choppy trading through most of the day is the market grappled with a couple of different issues. Not the least of which potential corona virus vaccines. There's this escalation, intention, which we've been talking about between the US and China, and then the likelihood for a new spending bill here in the U. S. At the end of the day, the Dow and the S and P were each hired by 6/10 of 1%. NASDAQ comprises 2/10 of 1% on the day was another session of dollar weakness. In fact, we are now at the lowest level since March. If you look at the Bloomberg Dollar spot index and for the three days that we have traded in New York this week We're down about 1%. That's the Bloomberg dollars spot Index against kind of the major currencies. Here. We're weaker right now by about 1/10 of 1% oil fell from a four month high. We've got the inventory data that we're dealing with, and it's still elevated levels 41 88 right now in the Elektronik session. After the bell we heard from Microsoft. Overall revenue was above forecasts. But you break it out and you look at the revenue for the azure cloud computing business. That was a little disappointing stock right now, down about 2% in late trading. Tesla posting 1/4 consecutive quarterly profit on a gap basis, 50 cents per share. The street was looking for a loss of a buck six revenue above estimates and that stock pushing higher by about 5%. So now Tesla's seems to be well on its way to joining the ranks. Of the S and P 510 year Treasury and yield terms were now at 59 basis points and no trading today in Tokyo. The Japanese market is on holiday. You look at futures for both Australia and Hong Kong. At this point, we're kind of little changed, but we'll have to stay abreast of potential movement Big down Day in Hong Kong yesterday after the US forced the closure of the Chinese Consulate in Houston. We'll have more on markets coming up right now. It's global news in Ed Baxter from the.
Los Angeles in ‘dangerous phase’ as virus cases surge
"Right now. Texas remains one of the hottest spots in the nation for the virus. The state's reporting. Another daily record for both cases and fatalities were also seeing the surge in California gather steam. Ed Baxter has the latest from R. Bloomberg 9 60 newsroom in San Francisco, the state has reported at second highest daily total of new Corona virus cases unequaled its second worst day for deaths. A number of tests on the rate of those testing positive also rose. The positivity rate over the past two weeks has now topped 7% while in hard hit L. A County. With 1/4 of California's population, That rate has soared to nearly 10%. Public health director Barbara Ferrer says that Los Angeles County is an alarming and dangerous phase and could overwhelm intensive care units and prompt sweeping closure. Orders have not
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
"ed baxter" Discussed on Bloomberg Radio New York
"Bloomberg's Ed Baxter has the story. It looks very much as if the committee will be getting some recently elected. Progressives led by Alexandria, Cossio Cortez. The twenty nine year old from the Bronx who has called for the biggest banks to be broken up steering committee. Has recommended her along with Russia to laid of Michigan and Katie porter. California Representative Maxine Waters will head the panel. It will be a different world there. In San Francisco. I'm Ed Baxter. Bloomberg daybreak. Kenya's President says security forces ended an attack on an office complex in Nairobi by suspected Islamic militants that left at least fourteen people dead president who who wrote Kenyatta says all of the assailants were killed. We will seek out every person that was involved in the funding planning and execution of this heinous act governor Andrew Cuomo unveiled a plan to make stretch limousines illegal in New York during his annual state of the state address Cuomo also says he wants to give more power to state regulators to keep unsafe vehicles off the road, it becomes after twenty people were killed in October after a stretch SUV lost control and slammed into another vehicle. Harry Cuomo also called upon the state legislature to revamp. The leadership of the MTA saying it's governing structure has made the subway and bus operator dysfunctional. The governor also called for sports betting to be legal in for upstate casinos within one hundred days. Global news twenty four hours a day on air at tick tock on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Michael Barr. This is Bloomberg. Nathan, Michael, thank you..
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
"ed baxter" Discussed on Bloomberg Radio New York
"Rating, the president is risen to forty eight percent versus forty five percent last month. This Gallup poll Yonhap is reporting. The moon administration is voicing deep regrets over Japan's finance director. She'd a Subas criticism of moon amid forced labor dispute Republican Senator Lindsey Graham now calling for President Trump to call a national emergency to gain funds for a wall. He says he's never been more depressed about Washington DC and doesn't see any other path forward. President went to the southern border voices. Call for a border wall. Democrats say he's just trying to dominate the news cycle. And that this is really just a reality TV show. Democrat Nancy Pelosi says there are many more high tech ways to protect the border. If the president wants to talk and now, the president has asked the US army corps of engineers to examine whether the wall could be funded with a disaster relief funds that are tagged. Go for emergency relief to port the Rico in other areas with national disasters. Japan's Prime Minister Shinzo Abe's urge British lawmakers to back Prime Minister Theresa May's deal with the EU calling the UK gateway to the EU. He also says his government is busy opening channels of communication with North Korea, which could it conclude an ABI Kim summit at the end and Michael Cohen, President Trump's former personal lawyer has agreed to testify next month before the house oversight committee. This could potentially provide public testimony on the workings of Trump business personal life and political campaign. You may want to Mark down February seventh on your calendar. Global news twenty four hours a day on Aaron talk 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. Juliet, thank you so much. Ed, let's get back to compensation with Michio commodity executive director, global strategist at J, take capital partners. He's in Hong Kong. Studio Douglas, talking to you, the China dotted that we've had also curious Mikio to get your thoughts on where we see currency moves going because there has been I guess a little bit of a reprieve in that dollas strength, which is given a lot of base to Asian currencies, which ones in particular standing out to you. Well, we have across the board positive you and emerging markets currencies fall for the moment, particularly for the Asian. Once I would say X are in if we take at least a slightly longer term view. Let's say for twelve months or so however in the short term. You know with the fed now communicating policy clear, I think even the Embiid should benefit and actually does benefit from from sentiment. That is anti-dole. Let's say in pro pro EM currencies. We'll also pro more economic stimulus in China. It looks like they're working vigorously to avoid a hard. Landing a minimum looking at the offshore right now at six seventy seven we're strengthening against the dollar by about four tenths of one percent right now. And as I indicated earlier one of our contributors to the mlive blog were really indicating that the path of the fed is going largely be dependent on the global economy and China figures into that story in a very very big way. Yes. It does. However, I would I would say that the that the current, you know, kind of strength in the NBA is really more driven out of the dollar, the the monetary policy settings in China remained relatively tied. Which is why the the economy isn't doing that. Well, at this moment, but I think once they get the trade issue out of the way, they the Chinese authorities will will ease on the monetary side. Which should we the currency again? So far they've been doing mostly piecemeal fiscal stuff. But keeping the monetary rains relatively tight to to what the economy mean relative to what the economy needs. So I would expect the next move after March potentially to be an easing on the monetary side. Yeah, there's a lot of coal that they don't want to say too much further appreciation intensive global risks. We took a lot on this program about the US China trade dispute, but there's so much happening in Europe as well. What is? Is a big risk factor to you. And you look at the global economy is it, you know, a potential difficult Brexit, or is it what's happening between the US and China. I think it's definitely US in China. And you know, to the extent that they can indeed reach a partial deal of some sort by March that would be very good the Brexit case. Unfortunately, if it happens because we we actually got there so many scenarios there that we don't really know what will happen. But if it happens will mostly impact the UK so and the pound to Europe and the global broader economy, not really I mean, it might have a short term impact. But I think the it's it's largely a UK issue. It's the UK shooting itself from the four diving I leave I leave everyone due to judge that by themselves. But I mean, you have even the Japanese Prime minister giving recommendations, it's it's really it's it's it's something that I still faint to comprehend fully. But, but I don't think it's a wider issue for the u there are issues in the U. There is a parliamentary European parliament election coming up there are populous forces gathering in this country. But that's not related to the to what's going to happen to the UK if they have a hard Brexit, and even if there's another referendum. I guess you could make the case that they've already shot themselves in the foot. So in terms of everything that we've laid out here. What does it do? Your job is a global strategist. How does it influence the way you're putting capital to work in markets right now? What are you doing? Well, we're avoiding the pound, for example, if if you're referring to the to the Brexit issue, but that's broadly about it. Luckily, UK based companies are global so they're not really affected by Greg said only at.
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, 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