19 Burst results for "Oma Cron"
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"In New York with your global head of the top stories for investors in the coming week The U.S. and European economies appear to be coming out from under the thumb of the latest COVID wave Still a mixed picture in Asia though and for borrower let's go to Bloomberg daybreak Asia host Doug Krishna John many countries in Asia are facing a spike in COVID cases following the lunar new year holidays and now job markets across the region are taking another hit We want to take a closer look so we bring in and a current Bloomberg's chief Asia economics correspondent who joins us from Hong Kong And it's always a pleasure I think we've got to start with the fact that labor markets in north Asia were just beginning to recover from the impact of the delta variant and now we're dealing with oma cron what do we know about the extent of the impact on employment right now throughout north Asia Well the big concern among a lot of analysts is that Asia hasn't yet had the big wave of omicron that other parts of the world have had So the concern is that when it does start sweet mature region there will be a hip to the serves as in the consumer kind of sectors of the economy those frontline kind of jobs And we are seeing some pain there for example in China which of course has kept its borders closed and it's keeping the virus out It is also dealing with sporadic outbreaks of the virus that is impacting consumer confidence and that's why we're seeing through alternative indicators and our build reports that unemployment in China is actually worse than the official monthly figures are showing as I say that's reflecting weaker consumer spending on the COVID control measures But nonetheless China does stand out on the coming to success and containing the virus but even there the jobs market is weak Now it can be a bit more complicated than other tariffs Take Korea for example the unemployment rate in South Korea is increasing and that's as the country by the way is in the middle of its worst covered way But that currently reflects an increase in the participation rate of some people looking to get back into the workforce Nonetheless people are keeping a close eye on how to overcome impact social distancing there Over the coming weeks and months And likewise in Japan as you mentioned there was some sign of healing before the virus drugs would matter some pressure on the servicing consumer sector there as they continue to back to their normal conversion So I would say to you that there was some progress towards in the last year which will now depend on how deep and how wide it's very internal spread in Asia over the coming months I want to pivot back to China very quickly here and look at the distribution when we're talking about the manufacturing economy and some of these industrial centers that were forced to lock down juxtaposed to some of the services industries Do we need to really kind of drill down in this to look at how let's say the industrial component and the employment picture there has been hit as a different than what we're seeing play out in services at all I think it's a good question though I mean the service industry is the biggest source of jobs in China China is about half of the labor force And so you can imagine what's going on in terms of disruption to travel We just had Chinese New Year The biggest holiday of the year but of course it was quite subdued People were told not to travel and stay at home on the like So that's having a knock on impact The manufacturing part of the economy isn't obviously the driver that it once was But it's still an important source of both growth and economic component And while that's been going well broadly speaking we have seen some of the weakness in gauge I'd like to PMI indexes for example hints there all of them softening at the margins Businesses were looking to hire new workers under like So there isn't really a great official gauge of data on China employment reflects obviously the economy there We have to rely on a fairly partial labor survey but at the same period indications that people are reading through alternative indicators or other build reports do suggest on the fund is worse there than the multi figures show And that's why we often hear the government talk about prioritizing job creation which suggests that they are aware of the pressures out there too What do we know about the vaccination if we look at South Korea Japan and China those three countries is it pretty evenly distributed in terms of vaccination rates Well China is vaccination rates I think is well over 80% And that's because they've been pushed hard and they pushed arity by getting the population vaccinated Dog in a very systematic way obviously led by the government of a specific system that they have Over the concerns there are whether or not the Chinese homegrown vaccines are as effective as the mRNA or the western vaccines So we'll have to see that play there That's why actually people are getting concerned about what end path is for China It's hard to believe we're entering the third year of this pandemic and a thank you so much always a pleasure and a current is the chief Asia economics correspondent for us at Bloomberg joining us from our studios in Hong Kong I'm Doug Krishna You can join us weekdays for Bloomberg daybreak Asia beginning at.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"The Walsh first though we talk with our political contributors Rick Davis and Genie Chan zino to start this new week that will be critical for economic data And I'd like to get your take both of you on this It culminates with this important jobs report on Friday that is not going to be a barn burner The estimates 66,000 some think that there could be a negative number Genie if I can start with you on this how important will it be for Joe Biden to get ahead of that story Where are we with this economy and with COVID It's critically important for The White House They had a bit of good news at the end of last week concerning the GDP I had questions as did other people as to whether they could communicate that effectively to the American public and sort of address their concerns real concerns people have about inflation Now as we pivot to these potential numbers which they suspect may not be as strong as they want they once again are sort of playing catch up if you will And that's a problem for this White House So they do have to get ahead of this It is no question in anyone's mind that what is going to decide these midterms and the future of this administration is the economy He's got to be able to communicate the positive and show he's addressing potential negatives and most importantly these high inflation numbers It all seems to come back to COVID Rick we heard earlier as I read from the terminal San Francisco fed president Mary Daly we still have 4 million workers sitting on the sidelines How do you get them back to work Well you know first you got to get past this omicron variant And I think that's what's going to have a salient effect on January's labor numbers And you've got to be able to convince people that it's safe to go back to the workplace You still see a lot of these businesses where people are working from home They're not fully opened up yet You've got to strip away some of these mass mandates as virus numbers come down You just got to really hope for a decline in these COVID numbers through the course of the winter so that maybe by spring you can really try to convince people that it's safe to go out and play again Many thanks to our political contributors Rick Davis GD they'll be with us for the hour and we want to go now to The White House to speak with U.S. labor secretary Marty Walsh It's great to have you with a secretary Welcome back to balance of power as we look ahead to this report on jobs at the end of the week This survey was taken right at the time when oma cron was peaking How much of an interruption do you think this will show I just want to put this in the context that the omnicon vary in this highly transmissible in early January 9 over 9 million people were out sick with this with the variants with domino crime The survey was done roughly around the week of January 12th There were millions of people that were still not in work A lot of them were out sick Folks some folks were out sick.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"Anything Spotify is fine If you see a bunch of artists lined up behind him and expressed concern then it becomes a real crisis As for the fat hashtag Spotify movement Luca says we'll have to watch In San Francisco I'm at Baxter at this is Bloomberg We're walking in the free world by him Hey thank you 8 minutes past the hour Let's get to our guest adriel Chen vice chair of hanging properties So the earnings were positive Net income up 2.59 billion Hong Kong dollars That's much better than the loss in the previous year and it looks like you're still banking on the mainland over Hong Kong performance Outline how you saw this prior period Thanks Brian and good morning Juliet So China remains the mainland of China remains very strong for us I think towards the second half of last year there was a little bit of concern is the market softening up a little bit But throughout the end of the year we found that consumer strength in Mainland China is still very strong So this is driven primarily for us by the high end So luxury brands LV Gucci These are what are really outperforming in the market right now In some of our best malls sales over 2021 were up almost double of 2020 and 2020 as we know strange year but it actually ended up performing very well for us So a high base but still very solid growth in 2021 Mainland China I think continues to be the engine for us Hong Kong We're very happy that things seem to have flattened out It seems that the market has found its bottom but at the same time with the 5th wave of army cron in Hong Kong we're still waiting to see how that pans out So for now really betting big on Mainland China Yeah and not only that in terms of the new wave but also the COVID zero policy and the fact that you've got all these businesses potentially moving from Hong Kong expats leaving two what kind of impact is the COVID zero strategy having on your business So yesterday just after our press release our announcements the government did announce a slight relaxation I think that they continue to try to take a more dynamic approach I feel for them because it's not an easy thing to manage but clearly the business is especially the international businesses with lots of expats in Hong Kong or suffering The inability for people to visit This is definitely had an impact on the large international companies At the same time for us it doesn't have it doesn't seem to have that much impact in Hong Kong We do a mix of retail and offices and the users of these spaces are not always these international travelers So in Hong Kong the impact of this zero COVID strategy has not been particularly negative That being said of course with this wave with lockdowns of eateries that does have an effect on our day to day tenants though Yeah it seems like oma cron is really taken hold in China and has advanced more and even delta variant It seems like it's setting up for this period to be tougher than last year How concerned are you And if not that what is your biggest challenge Without a doubt it does seem like it's been blowing up a little bit bigger and faster than Delta omicron I mean however I'm calling from Shanghai And when I go out in Shanghai restaurants eateries malls everything is still humming along So it's difficult I think the populace here really has trust in the government and how they'll have handled this The government has done it before in the multiple outbreaks in the end of 2021 And so there is a level of confidence that being said of course people are still very strict about masks and.
The Larry Elder Show
DeSantis Blasts FDA Decision to Revoke Monoclonal Emergency Use
"This is governor Ron DeSantis. Early this morning, thousands of floridians woke up to news that their appointments to get treatment for COVID-19 infection were canceled by the Biden administration, which revoked outright revoked authorization for two very popular monoclonal antibody treatments at the state of Florida, really pioneered over the summer, and that we've worked hard to make available to our residents who needed treatment. Mind you, the number the people that seek this treatment are overwhelmingly people that have been vaccinated, but yet they're still infected and many of them are high risk. Now they are relying on revoking this and pulling the rug out from under people on a single non peer reviewed nonclinical study that was actually done by a consultant for a rival company to the other two monoclonal antibody treatments. This is not based on a clinical trial. This is not even peer reviewed. And so this is something that they claim shouldn't be used because we have oma cron. And what we would say in Florida is, we have had people use it, and we've had good results.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"Are struggling as oma cron surges I'll talk about it with former secretary of education Margaret spellings and my conversation with Bank of America chair and CEO Brian moynihan On his plan to navigate through expected interest rate hikes this year and how he plans to retain top notch talent But first we all know the problem go on social media and you are barrage by untruths whether intentionally posted by those with an agenda whether foreign or domestic or simply misinformed people intent on getting their point of view noticed We've heard about proposals for government regulation but a relatively new company called news guard is pursuing a private solution One based in identifying what's to be trusted and what's not and informing those with the most at stake For more on how prevalent online misinformation is I talked to the co CEO of news guard Stephen brill a lawyer and journalist mister brill has started several successful businesses including the American lawyer and court TV The amazing thing is that approximately 40% of the 7200 sites we've rated and we rate every news site in the U.S. and in the countries where we operate in Europe and as of today in Canada that is responsible for 95% of all engagement online and 40% of those 72 7300 sites are rated red by us And you have to be really bad to get a red You have to be saying on your website that will sell you this package of apricot tits because that will cure your cancer and therefore you can cancel your appointment with your oncologist Or you can be talking about stop the steel or COVID vaccines But it's got to be really bad stuff And what we were stunned by when we launched the company is that so many probably the largest category of misinformation online comes from healthcare related sites because there's so much money in it to them So 7200 sites as you say an enormous overwhelming majority of the news sites you're raiding here How do you rate them How do you do that Is that done with artificial intelligence Do you have people How do you do this Well we use trained journalists particularly 40 of them They read each site and judge them according to 9 basic criteria of journalistic practice Do they have a corrections policy Do they separate news from opinion to the disclosed ownership Various criteria like that And each different rating goes through approximately 6 different people at different levels of experience culminating in my partner Gordon crow that's in the doing the final line headed of every single one of our ratings Every time we rate a site we accompany with a nutrition label which is three or 4000 words which describes in detail how we applied the 9 criteria All of that is quite transparent We call everyone for comment if we're going to say anything bad about them because journalists call for comment algorithms don't call for comment When you rate do you rate the entire site and for how long We typically will look at a three month period And yes we will spend a good number of hours reviewing the content on the site and how it adheres to the 9 criteria Then we will update it every quarter every half year depending on the site We will read news sites that suddenly crop up we have a rapid response team for example that if we detect that some story is trending on social media from a site we haven't rated maybe because the site was launched last night in Macedonia We will rate it very quickly So how does one get this rating Do you sign up for your service do you attach it to your browser How does it work We do have a browser extension that people can subscribe to news guard tech dot com But the real crux of our business model is getting other platforms to license it and provide it to their customers So for example Microsoft has licensed us for their edge browser If you use the edge browser you can choose to have a red and green icons with the accompanying nutrition labels pop up whenever you use the browser There are other platforms that use it We're in we're in 800 different public libraries around the world where we have a pro Bono service where they can install it on their desktops for their patrons who use the public libraries to knees on access And we also have a really thriving business among ad agencies and advertisers who use our ratings in order for the first time to keep their.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"With other NATO allies to talk about all those Russian troops massing on the Ukraine border And the party's basically agreed to disagree at least for now Leaving prospects of a further invasion still up in the air which was part but only part of what drove oil prices up this week Here's IHS market share Dan Jurgen There's geopolitical anxiety feeding into the market on top of a tightening market that's coming with economic rebound Three big banks reported their earnings at the end of the week there's something about mixed bags JPMorgan reported record profits but disappointed a bit on trading and is adding to its cost City also came up short on trading in the midst of a major restructuring there And Wells Fargo said it's tepid loan growth in the fourth quarter should pick up this year Going beyond the banks the markets overall well they had a volatile week responding to the high inflation numbers the low retail sales numbers on Friday And the Tesla fed chair Jay Powell that reducing monetary policy support is now a certainty Stocks fell for the second week in a row with the S&P 500 and the NASDAQ both about three tenths of a percent While yields on the ten year climbed a 125 basis points ending the week at 1.78 that's the highest level since the pandemic hit To put this rather confusing week in perspective we welcome now bob diamond He's Atlas merchant capital founding partner in CEO and Joanne Feeney advisers capital management partner and portfolio manager So Joanne let me start with you Respect to equities in particular typically when the interest rates are going up that's not necessarily something all equities like The equities respond that way this week You know David and they've responded that way since folate fall When I think it became finally clear to investors that interest rates would have to go up given a level of inflation we're seeing the tightness in the labor markets And the slowness with which supply is coming back online And so yeah we certainly saw evaluations come back and some come down in some places more than others And we just don't know for how long that's going to go on which points to that big question that investors always face You try to time this market where you just hold on for the long haul So bob what about the fed trying to time bringing it back down again How risky is that Because the track record on the so called self landing is not a great one So David we talked about this When we talked in December the fed needs to begin moving As of today there's still very very easy ultra easy I would call it The balance sheet is still expanding There's still almost a 100 billion in security purchases each month And I think it's time that they get on with it So I think the sooner they begin this process of easing into an economy that has recovered and is growing and has a very very tight labor market the better At the same time we've got oma cron out there You've got the COVID virus And so you can't quite know where the economy is going So how big a risk is it that so called policy mistake stomping on the great break too fast and leading to dare I say it a recession Listen it is everyone has said who's been on already This is tricky It's not 5 minute rice to time this But I think the biggest mistake that the fed could make would be to delay too long beginning to get to neutral And I think David we've talked about this before and Joanne and I have talked about this But when the fed goes from ultra easy to neutral it's usually fine for the markets That's been the history We're not even close to neutral yet So when I say begin the actions what I'm talking about is getting closer to neutral If you look at the futures markets then they're expecting fed funds Not this year but at the end of 2023 fed funds will be one and a half to one and three quarters Neutral is maybe 2% two and a half percent And I would just bring up you know it kind of ages me and my experience on Wall Street but if you look at the experience in the early 80s when Volker had to really put the brakes on a short rate got to 15 to 20% So if we talk about getting short rates overnight fed funds back to 2% or two and a half percent I think that's what we should be aiming for You know and to that point bob you put it really in good context This is not the 80s right Short rates heading to 15% is very unlikely for that to be in our future So we're really looking at short rates in the two ish plus percent range And also this is a very different economy for where we were back then in the 70s and 80s when we had to deal with those oil embargoes and the slowdown in production This time the fed and least has a tailwind helping solving inflation problem in that more supply is going to be coming back online this year Just look at the semiconductor industry which is bringing new factories up and running and we'll be putting out chips starting midyear And that's going to help by bringing up supply that'll help close that gap between consumer demand which is incredibly strong and the gap in supply that we've been suffering That's what also helped to bring down inflation even as those interest rates go off Bob diamond and Joan fini will be staying with us as we turn to the specifics of the tech sector and.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"In the UK raising its earnings guidance slightly after record sales of food over Christmas defied fears of omicron would dead demand nevertheless those fears did see back into the market those 80 yards are now down 8% in the session And I'm going to end here with Chinese ADR Billy Billy Bernstein cutting their recommendation on those ADRs to market perform citing disappointing execution in 2021 and concern over a week gross margin outlook in 2022 That also follows a cut from Morgan Stanley on slower growth Those ADRs dug down 8% All right thanks to Gupta Well clients had Morgan Stanley are expecting financial stocks to outperform this year a survey conducted at Morgan Stanley's annual conference shows 45% of respondents are betting the financial industry will be the best performer this year Interest rates are headed higher We know that and that's got to help with margins tomorrow will get earnings from Wells Fargo city group and JPMorgan Ten year treasury now down about a basis point and a half in yield We're at 1.72% I'm doctor that your Bloomberg business flash This is balance and power with David Weston This is a labor market that continues to I think display a great deal of strength You are more polarized politically and will more divided as a society where the world of politics beats the world of business The science and the stats say schools aren't safe place for young people The January 6th attack was the tip of an iceberg The underlying extremist strands have not gone away Balance of power with David Weston on Bloomberg radio President Biden calls in the military in the fight against oma cron NATO and Russia agree to disagree over Ukraine and lael brainer takes her turn in front of the Senate banking committee From the Bloomberg interactive broker studio in New York welcome to the second hour of balance of power I'm David Weston Fed.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"Org slash AARP Connect honor share StoryCorps connect a message from AARP StoryCorps and the ad council This is your Bloomberg real estate report I did these Pellegrini demand for vacation homes likely to continue to rise this year That's after demand in December was 77% higher than pre-pandemic levels I think that vacation home just remain popular because the pandemic is still ongoing Daryl fair weather chief economist at Redfin says on top of that oma cron has changed the office forever People aren't able to or don't feel comfortable traveling abroad or in hotels and with remote work people can just pick up and go work somewhere else for a long time so the appeal and vacation home as much stronger And so where will we see the demand for vacation homes this year Any vacation area in a drive of a major city I think is going to continue to have a very strong second home market because it's the perfect location If you can just drive to your second home you can see the new maintenance I think those will remain very popular And that's super Bloomberg real estate report I'm dedic Pellegrini And JIT makes innovation happen It also makes entrepreneurs like Anya o'dwyer Founder of innovate a tech driven civil engineering and construction management firm Anya says and JIT is defining the future Extremely important as a hub of discipline is all in one space with all of these brilliant minds And GoT's wrong is huge when it comes to defining the future and how from an interdisciplinary point of view they have it all there whether it's the innovation hub the makerspace And GIT is already creating bash collaboration between the disciplines and you have civil engineers speaking to programmers speaking to electrical engineers and together they're creating advancements that we wouldn't have been able to do without those three minds coming together and solving a problem as one rather than solving it in isolation And JIT New Jersey institute.
Mark Levin
Phil Mickelson Gets Dragged for Asking a Legit Question About Omicron
"But there's no Macron variant and it's a question that needs to be asked It's actually funny because if you're a golf fan you're going to love this This was a tweet that went out earlier that caught my attention from Phil Nicholson On Twitter he asked a question that I do think is a legitimate question And his point was I quote no one freak out on me I'm just asking a question Of course people freaked out on him right Of course they went nuts and him asking a question He said and this is from one hour ago He said serious question Since I'm not a doctor if oma cron is contagious but not deadly 25,000 plus kids in Africa with no deaths Why try and control it Why not let it go And what people get it and develop immunity question mark especially for those who won't get vaccinated Please no hate I'm just curious Now of course you know what happened People started losing their minds and screaming and going nuts How dare you say people should get COVID on purpose and what's wrong with you you must get vaccinated you're anti vax you gotta And this is Phil Nicholson Hey I'm not a doctor I'm just asking a logical question Democrats don't like these kind of questions I have no idea by the way Phil Nicholson is a conservative or a Democrat I just know he's a really good golfer And I like him I think he's entertaining and he's fun But the question is asking and the hate that's coming his way for asking a question that everybody else I think should be asking tells you where we are in this country where the intolerant left that demand that you do whatever they tell you to do And then once you do it they will give you your rights back Which means they took your rights from
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"Of a holiday weekend guy If you thought it was going to be a sleepy holiday week you would be mistaken because we have Joe Manchin Now I know on build back better rising a concrete Akron cases and Davos in January seems to be the latest victim of the World Economic Forum now being pushed out until the summer of next year Yeah I'm not overly shocked about Davos I think that has been certainly something that a lot of people have anticipated I would be surprised to see the likes of Jamie Dimon turning up in Switzerland after Christmas Yeah it's a double whammy really for the markets isn't it You look at what is happening Joe Manchin certainly a factor in what we're seeing in terms of asset price moves this morning but also the omega on variant just kind of accelerating not only here in the UK across Europe and now in the United States We are certainly seeing that in the markets equity markets are off they're off their lows Kaley which I think is interesting because what we're seeing here is certainly I think a more positive response to that Moderna news But we've got a dollar that's on offer and we've got a bit in the bond market That is what the asset check looks like this morning is you can see crude off and off hard That's true for breads as well bit in the bond market You're a dollar actually catching a little bit of a bit as well which I'm surprised about And S&P futures really mirroring what we're seeing over here Kelly Well it's so interesting guy because equities are down a lot harder than bonds are bid this morning I know that's something Gina is paying attention to and we'll have more on that really throughout the next two hours But in terms of what else is coming up ahead today at 10 a.m. we're going to get conference board leading index This isn't one of the more significant economic indicators a lot of the data we really need to pay attention to is going to come later on this week when we get PCE and GDP among other metrics But again this is a thing like one of the market the market already is feeling a bit Rick's off So any economic indicator could in theory make a difference Then at one 30 p.m. Eastern Time it will be keeping an eye on The White House President Biden meeting with members of his COVID-19 response team What will they do about the threat of the Akron variant Doctor Anthony Fauci who is advising him on the pandemic says he doesn't see the U.S. heading into any kind of lockdown scenario But what is the appropriate policy response for a variant that seems to spread more quickly but also isn't as severe It will be interesting to see how The White House handles this and of course I'm sure the president will be continually making a push for vaccinations and booster shots as guy mentioned Moderna showing a 37 fold increase in protection against a with that third shot And finally after the bell we are going to get some earnings on this holiday week Nike among them it'll be interesting to hear what the outlook is like for the holiday quarter for Nike but also commentary around supply chain issues and the ability to actually get product in the hands of consumers And of course micron as well We'll be keeping an eye on demand for those memory chips guy Well I saw more about what is happening in the markets how we should be responding to this What does it mean for your portfolio Michael show all chairman and CEO of market field asset management joining us now Michael here we are We have a problem with the president's Bill back better plan It looks like that is hit the buffers as a result of what Joe Manchin said over the weekend We've got oma cron absolutely raging What do you do Do you just sit on your hands here and do nothing Or should you be responding What if so what should you be doing No I don't think you should be responding frantically to this I mean a moment it looks like a sunny a full start to a full start to a week but the sessions are long and family for.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"COVID Europe will be there in Q one It's time for humanity to grow up and understand who we are and what we're doing Bloomberg daybreak Europe on Bloomberg radio London and Caroline heparin I'm Tom McKenzie you're listening to daybreak Europe live on London DAB digital radio So the prime minister here in the UK has a really impossible decision around additional restrictions for the UK Does he bring them in before the Christmas period This is why is Christmas so important Everybody celebrates It's kind of the focal point for the UK but a lot of his ministers disagree in his MPs have revolted in the past around more restrictions but COVID cases are soaring and oh Macron is also weighing on global markets And of course Boris Johnson has to weigh up the politics of losing his Brexit minister in the foreign secretary taking over that brief but absolutely the markets are in not quite freefall I don't have this quite the way to describe it certainly Heavy losses down more than 2% whether this is as a mundi were saying earlier to us on TV profit taking or whether this is major capitulation by the markets as they look at all these risks Yeah absolutely This also of course this person Joe Biden's economic agenda got a major hit as democratic senator Joe Manchin rejected the idea on television on Sunday of actually voting for this in massive economic package So you've got the S&P 500 in many futures sinking 1.6% and European stocks now down by 2.3% FTSE 106 2.1% right now To Dax is down by 2.8% So yes this is a real sort of end of year volatility and concern around oma cron I've been impacted on a spot index is softer the pound is off by three tenths of 1% The Euro actually is better bid stronger three tenths of 1% We've talked a lot about the Turkish lira which is sinking more than 6% this morning both against the Euro and the dollar of the reiteration by the Turkish president around his policy Futures also are now down by 5% So again you see the concerns around economic growth worldwide Goldman Sachs sashing U.S. economic growth for next year and in terms of U.S. yields were down three and a half basis points one spot three 7% Let's switch focus to what is happening specifically in the UK the health secretary Sajid javid refusing to rule out stronger COVID restrictions before Christmas after the nation's top health advisers urged more measures to contain sharply rising infections Infections in the UK jumped more than 50% in a week as Germany brought in tighter rules for UK travelers the Netherlands returned to a strict lockdown on Sunday closing schools and non-essential shops Germany's Meyers cases are only a few weeks past their peak but health minister Carl lutterbach said the country is already headed for a 5th wave Meanwhile the bidens atop medical adviser Anthony Fauci says quote I don't foresee the kind of lockdowns that we've seen before Let's pass all of this It's very fast changing of course with Bloomberg intelligence senior pharmaceutical and a sound fazeli also director of research for EMEA Sam let's start here in the UK with these very significant uptick in cases What is the latest in terms of the implications for restrictions that governance and policymakers here in the UK may be thinking of Good morning I think what we have to think about is whether this wall of immunity that the UK has built which I think is what's driving at least to a significant amount when maybe not all of the lower severity of the disease in South Africa Whether that in the UK will be sufficient to also reduce our burden on the healthcare system Let's not forget however that there are discrepancies across the UK London is one of the lowest vaccinated but on the other hand it may have immunity from infections So quite a lot we have to still figure out but we do see hospitalizations hospitalizations going up Cases are rapidly rising So when will we have a decision on more restrictions Will all depend on the balance of that severity in hospital the need for hospital bed than I see you And then of course let's not forget that the healthcare workers themselves are at risk of getting infected and having to isolate It could have a problem with the healthcare system from that perspective not just of demand and hospitalizations Yeah you've already had warnings around that over the weekend for NHS workers who are seeing people being stuck at home already ticking up I noticed that the language around the unvaccinated is becoming starker the UK taking up beds is the line President Biden will give tough warning apparently in a national address that is due on Tuesday So in Europe there's discussion around just mandatory vaccines what about that for other countries Caroline it's a very tough subject right In terms of rights and not But I don't think anyone has the God given right of having a decision that they make with regards to a vaccination status for themselves After all the data that we've seen so far that clearly impacts the broader community very significantly Now nobody is saying that vaccines are 100% against everything They are very effective in keeping that hospital They're better than a previous infection How much better time will tell But if you just can't rely on COVID like a year and a half ago and therefore I'm fine You can't rely on that Because you can't test for it that easily either So having a vaccine will have immense societal benefit How you intend to incentivize those last percentages to get their vaccine is the toughest question for any government to stop Stanford Ellie we've been working you hard this morning Thanks as ever for your insights Bloomberg intelligence is senior pharmaceutical analyst also director of research for EM EA Right now onto one of our top Bloomberg interviews for you this morning So the Chinese electric carmaker neo unveiled its second sedan which will compete more directly against Tesla's most popular model three neo also gave a road map to reach 25 countries by 2025 Now the CEO William Lee discusses the new launch of this vehicle plus the global chip shortage delisting risks and the company's global expansion strategy in this exclusive interview with Bloomberg's Charlie joux The ET 5 is a key product for us as neo has long focused on SUVs We've been looking forward to a model with a more suitable price and a larger consumer base All of neo's.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"I'm susannah Palmer and the Bloomberg newsroom New reported oma cron cases in the UK tripled in a day with England almost certain to be suffering hundreds of thousands of daily cases of the new variant London was put under an emergency alert as the UK government was reported to be considering a two week ban on people in England gathering indoors health officials from German states called on the government to designate the UK as a virus variant area a step that would require stricter testing of travelers from the country The U.S. government has over counted the number of Americans who are at least partly vaccinated state officials warning meaning that more people are unprotected as the pandemic's winter surge gathers steam Harvard University will move classes online for the first three weeks of January The union that won a landmark vote at a Starbucks location in Buffalo last week is trying to overturn an unsuccessful vote at another area store The labor group workers united urged the national labor relations board in a filing late Thursday to reject the results of the failed union vote saying that Starbucks waged a shock and awe campaign to intimidate workers JPMorgan says yearend holiday spending in the U.S. is coming in notably weaker this year than in the recent past We get more about that from Bloomberg's truly pellet It signals that retail sales are set to end the year with a whimper according to the Wall Street bank the pace of purchases made on credit cards from Thanksgiving through early December was slower this year compared with both the pandemic affected 2020 and pre COVID 2019 According to JPMorgan economist Daniel silver that signals December retail sales data will likely be downbeat Charlie pellet Bloomberg radio Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"I'm Emily Wilkins here with my fellow Bloomberg government reporter Jack Fitzpatrick we are filling in today for Joe Matthew Well in just a few minutes we're gonna speak with congressman Mark pocan but first we're gonna get a market update with Doug listener Hey Emily so we had a focal point I think on two primary areas One the inflation report for the month of November this is retail inflation as reflected by CPI a very hot reading an annual increase last month of 6.8% That's the highest since about 1982 Curiously it was in line with estimates right and so maybe in the equity market a sigh of relief that we did not have a number or a reading at any rate that exceeded forecast The second focal point with this rally that we had in information technology after the blowout results from Oracle and Broadcom and those gains in infotech led the S&P 500 to a record high 4712 we were up about 1% on the day where the Dow is concerned again of a 6 tenths of 1% We had the NASDAQ composite rising by about 7 tenths of 1% Now the other key risk for markets obviously the omicron variant Today British health officials said they expected to become the dominant varied by the middle of this month and a new study in the UK finds boosters give protection against oma cron in a range of 70 to 75% efficacy Here in the states the first Democrat cases were detected mostly in vaccinated people they experienced mild illness the CDC reporting only one hospitalization and no deaths so far So now as we wrap up this week our focus is on the fed meeting next week and whether or not today's CPI data will have a meaningful impact on the fed's thinking Chair Jay Powell is already said policymakers should consider withdrawing stimulus at a faster pace Today the ten year treasury was down a little more than a basis point and yield We were last quoted in New York at a yield of 1.48% I'm Doug prisoner and that is the Bloomberg business flash Thank you.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"The magnitude 6 on the meteorological scale the JM a is saying no tsunami threat Interestingly they did pick up an early warning on it minutes before it struck out We got it here as well at Bloomberg No reports of injury or damage to this point and the nuclear power plants are operating normally Hong Kong court finding media tycoon Jimmy lai guilty and his role for unauthorized vigil last year for victims of the 1989 Tiananmen Square crackdown adding to mounting convictions UK prime minister Boris Johnson says oma cron is changing the restriction landscape Johnson calls a plan B says the rapid spread now is causing him to rethink work and Christmas as of Monday he's asking people to work at home if at all possible He also says mask mandates will go back on indoors and will also make the NHS COVID pass mandatory for entry into nightclubs and venues where large crowds gather including unseated indoor venues with more than unseated outdoor venues with more than 4000 people And any venue with more than 10,000 people Now he apologizes for the quick turn but says the variant has to be stopped Meanwhile Pfizer and BioNTech say their first research very positive Pfizer CEO Albert burla on Bloomberg's balance of power says three doses work on like the first bit on the others up to 95% efficacy They are having a very very big drop dramatic drop of neutralization type that's only the two doses This doesn't mean that we won't see it Because there are other elements of the immune system that we haven't measured He says at this point the key is in slowing oh Macron burr also says oma Kahn specific vaccine may be available in the first quarter of next year And the WHO executive director is issuing a cautious warning about all of this news Bloomberg's Emma O'Brien has it And I think that's coming from a place of they're worried that if you do get all this attention on boosters and then being seen as the magic bullet to move beyond this new variant that you will have be prolonging the situation in the developing world where some places have barely any access to vaccines at all So this brings back to the discussions about vaccine equity WHO says oh Macron has to be stopped globally U.S. Senate has voted a block the Biden vaccine mandate for companies Manchin and tester joined the GOP block vote It is likely to die in the house And The White House has already said that the president will veto it in any event if it gets to him A U.S. House has passed its human rights legislation with actions to punish China regarding its handling of the Uighurs Assistant U.S. Secretary of Defense Eli ratner is told the Senate committee that U.S. is helping to bolster Taiwan's defense and it is an urgent task now He says this as a China engages and destabilizing international and provocative actions U.S. says the situation at the Russian Ukraine border is totally in Vladimir Putin's court right now President Joe Biden says Putin understands potential economic consequences Economic consequences.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"From the state courts The state didn't defend the governor's order To the Supreme Court The justice is unanimously reversed rulings by the 9th and ten circuits June grosso delivers your legal intelligence So why did the appellate division dismiss the complaints Bloomberg law President Biden's vaccine mandates are facing problems in the courts On Bloomberg radio the Bloomberg business app and Bloomberg radio dot com The TVC director says COVID-19 is likely to become an endemic disease in the U.S. and around the world Doctor Rochelle Walensky said 99% of the coronavirus cases in the country are the delta variant but they're keeping a close eye on the Akron variant as well She says getting vaccinated is still the best practice to fight off COVID-19 Even our most recent data that you are 6 times more likely to get infected 11 times more likely to get hospitalized and 14 times more likely to die of COVID if you are unvaccinated The CEO of Pfizer says the company could have vaccine data for children under 5 by the end of the year CEO Albert borla told NBC News they're doing a study in children ages 6 months to two years and another of children two to 5 years The parents of the alleged mass shooter at a Michigan high school have been taken into custody James and Jennifer crumbly were found on Detroit's east side each faces four counts of involuntary manslaughter I'm Brad seaton And I'm Susanna Palmer in the Bloomberg newsroom The amaron variant is spreading in our region multiple cases have been reported in New York City and at least one on Long Island and in New Jersey Doctor Anthony Fauci chief medical adviser to president Joe Biden says it's important to study a Macron in relation to the delta variant The real question is in the fact that we have a background of delta variant which is very dominant and is essentially pushed all the other variants of the board where is a crime going to be in relationship to Delta Will it take off and become the dominant variant Or will it essentially get a bit smothered by delta the way all the other variants The only way we're going to know that is to wait and see Doctor Fauci was interviewed on Bloomberg markets the clothes with David Weston Cryptocurrency investors looking at the spread of oma cron and it's possible effect on the economy and the markets are selling today Bitcoin plunged along with other cryptocurrencies the largest digital token fell about 20% to as low as $42,296 before pairing some of that decline Either the second largest token also fell The highest flying of Wall Street's stock market darlings are now taking a major beating We get the story on that from Bloomberg's Shirley pellet Tesla Nvidia Netflix and Facebook owner meta platforms have all lost ten to 20% over the past few weeks That has wiped several hundreds of billions from their market values with metal loan losing some 230 billion since it shares hit a September record Charlie pellet Bloomberg radio Multiple students were hospitalized after using a tainted vaping product at their Connecticut high school on Friday The incident was reported just after noon at Brian McMahon high school in Norwalk Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is Bloomberg.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"Kassner The U.S. government has a big stash of Bitcoin and now it's worth a lot more than it was when it was first obtained NBC News reports in November of 2020 thousands of the cryptocurrency was confiscated from a dark web forum selling illegal products At the time bitcoins were worth about a $1 billion those coins were However the value has gone up significantly to around $3 billion The government plans to auction them off Las Vegas will close 2021 and begin 2022 with a mask mandate still in place State officials say southern Nevada and other areas dean high risk for coronavirus should not expect to lose their mask mandates I'm Brad Steven And I'm Susanna Palmer in the Bloomberg newsroom the Omaha variant is spreading in our region multiple cases have been reported in New York City and at least one on Long Island and in New Jersey Doctor Anthony Fauci chief medical adviser to president Joe Biden says it's important to study omicron in relation to the delta variant The real question is in the fact that we have a background of delta variant which is very dominant and is essentially pushed all the other variants of the board where is a crime going to be in relationship to Delta Will it take off and become the dominant variant Or will it centrally get a bit smothered by delta the way all the other variants The only way we're going to know that is to wait and see Doctor Fauci was interviewed on Bloomberg markets the clothes with David Weston Cryptocurrency investors looking at the spread of oma cron and it's possible effect on the economy and the markets are selling today Bitcoin plunged along with other cryptocurrencies The largest digital token fell about 20% to as low as $42,296 before pairing some of that decline Either the second largest token also fell The highest flying of Wall Street's stock market darlings are now taking a major beating We get the story on that from Bloomberg's Shirley pellet Tesla and Nvidia Netflix and Facebook owner meta platforms have all lost ten to 20% over the past few weeks That has wiped several hundreds of billions from their market values with metal loan losing some 230 billion since it shares hit a September record Charlie pellet Bloomberg radio Multiple students were hospitalized after using a tainted vaping product at their Connecticut high school on Friday The incident was reported just afternoon at Brian McMahon high school in Norwalk Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm susannah Palmer This is Bloomberg.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"Power collide in Silicon Valley and beyond this is Bloomberg technology with Emily Chang I'm Emily Chang in San Francisco and this is Bloomberg technology coming up in the next hour The apple falls Why demand is slowing for apple's most popular device Plus Sami Khan keeps popping up around the world but there's a new treatment that could fight it I'll talk to the maker behind that promising drug And shoppers are scooping up all those one of a kind gifts as we speak but will they make it on time The CEO of Etsy joins me to talk about how he's making sure everyone has a very happy holiday We're going to get to all of that in a moment but first let's get a look at the markets and it was another volatile day are at ludlow with us now Ed what did we see Yes we went from the biggest two day decline on U.S. equity since October 2020 to the biggest one day jump in the S&P 500 since October of this year and investors have a lot to take on board right volatility associated with oma cron and what the fed might do But if there was a pocket of weakness or underperformance it was in technology shares You see that reflected in the NASDAQ 100 a very tech heavy index and particularly in the NYC fang plus index which was just in positive territory on Thursday a lot of that of course to do with Apple which will come onto and on a day where we were really in risk on mode there was selling in cryptocurrencies pretty much across the board which was interesting Some other really important news of course came around U.S. listed Chinese companies And I'm looking at the NASDAQ golden dragon index which at one point was down by the most since September but paired back some of those losses to trade at its lowest level since May of course the SEC coming out saying it has a plan to look at these Chinese companies that are listed in America and think about whether they fit the rules the parameters of what is required to be a foreign company listed in the United States Of course we've got to talk about Apple You talked about it in the intro of the show Notifying according to sources it supplies that demand is disappearing It's not quite there And what we saw from some of the apple's key suppliers was it wasn't just Apple under pain but if you looked at some of its suppliers in Asia for example LG intake LG entertainment gets more than 50% of its revenue from Apple and it fell more than 8% in Korean trading You saw that in Europe as well as ST micro and infinity So a lot to unpack there because we went from thinking well Apple can't make enough iPhones because of supply constraints to no one wants to buy them anyway That's a hard one to follow An interesting that they're saying demand is dropping now at a time when you think it would be spiking ahead of the holidays I mean what does that say about the iPhone Yeah about losing patience right I don't know about you I've been doing some holiday shopping recently You got into any website Any ecommerce platform and you look out of stock We know from the Adobe data out of stock messages up 260% from the same period in 2019 So there is evidence to suggest that you log in on to buy something It's not there Don't even try and buy it Don't wait for it for sure Right Always get those questions about whether folks buying it should wait or not wait and you know case by case basis right I want to get to Bloomberg's Mark garment now who's with us and has been reporting on this story Mark what can you tell us Why is demand for the iPhone falling now of all times Yeah I think that this is a combination of factors One we have a decrease in consumer spending We see things like gas and food and other things that you want to buy on a normal basis increase in people who are trying to hold on to their money We see it's been a while since the last stimulus check So there are issues here that are preventing people from having that extra cash to buy a new iPhone right On top of that the iPhone 13 it's more of a modest upgrade over the iPhone 12 and the iPhone 11 There's not a whole lot of new here But that was sort of covered up by long lead times long lines at Apple retail stores supply chain issues as well as very aggressive rebates and discount deals from both Apple and the carriers which made buying these new iPhones even with minor changes a lot easier to swallow than in years past So why are people holding off buying next year's iPhone you know I mean I'm sure you get the question all the time Should I wait or should I buy it now I mean I think it always depends the answer to that question It depends on who you are what you need the device for how old your phone is There's so many factors It's not a very black or white answer I think personally if you have an iPhone 12 there's really little reason to upgrade to the iPhone 13 I personally did it because I got the phone at no cost because of the rebate deals offered between Apple and the carriers Again even if you're coming from an iPhone 11 if you didn't think the iPhone 12 was worth the upgrade from the 11 and there's really no reason to upgrade from an iPhone 11 to a 13 But if you have an iPhone XS and iPhone X or earlier I think it's a really solid upgrade for you I also think there's a lot of people holding off to the iPhone 14 Everyone knows the way these Apple cycles and patterns with device upgrades work so you know that if there's a modest upgrade the following year is going to be much larger changes So I think people are holding off for the iPhone 14 as well There's been a lot of discussion foldable iPhones So I think it's a combination of everything going on with the world as well as this being a modest device upgrade and some of those carrier rebates starting to run out What does this mean for the overall Apple earnings and holiday story Well the best thing I can tell you is what Tim Cook has already said He said they're going to have a year over year increase in revenue for Q one That means they're going to top a 111.4 billion Analysts are looking for numbers around a 116 to a 117 billion for the quarter And I think Tim Cook wouldn't have said that number on the fourth quarter earnings call if he wasn't more than confident that this was going to happen So I think regardless of the demand regardless of the supply we have to go with what Tim Cook said he's expecting and he's expecting growth year over year At the same time that growth may not be as big as what apple expected They already said $6 billion decline from what they could have made in Q one is to be expected because of the supply chain issues Now we know there's some demand that fits into that picture as well as one of the reasons why this quarter may be very strong but not as strong as it potentially could have been Okay Bloomberg smart gurman Thank you as always and do not forget You can subscribe to mark's weekly power.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"And we are seeing several Asian nations changing their trouble plan agendas it backs to has all the global news edge All right thank you very much Julia you're right Japan is efficient It will close its borders to new foreign arrivals from today and to have its own citizens isolate on arrival from countries where oma cron is detected The entry band does not apply to foreigners already residing in the country Hong Kong has expanded its travel ban to Angola Ethiopia Nigeria and zombie from today also tightening travel restrictions for visitors from Belgium and Germany and effective Thursday and non Hong Kong residents have stayed in these countries will have the last 21 days will not be allowed to enter Hong Kong Australia postponing plans to relax border restrictions this by at least two weeks This New South Wales reporting over the weekend that two travelers from South Africa to Sydney were infected by omicron asymptomatic another two yesterday So the delay until December 15th to give authorities they say time to gather more information to better understand the variant In the U.S. president Joe Biden this variant is a cause for concern not a cause for panic and says travel bans are not punishment but by time The reason for their media travel ban is there were a significant number of cases on like any other country to other few around South Africa in the world We needed time to give people an opportunity to say get that vaccination now before it has a move around the world That is encouraging all Americans to wear masks indoors again As for vaccination doctor adalja at the Johns Hopkins Bloomberg health says mRNA vaccines at this point are affected If people don't want to take the vaccine if people actively shun this great piece of technology that approves their lives it's going to be very difficult Indeed it's not surprising to me that this variant was discovered in a place where vaccination rates are 25% And that is a case of the epicenter in South Africa The CEO of Pfizer Albert bourla on Bloomberg says a very it can be contained We have been preparing for a moment like that for months right now And I feel comfortable that the playbook will work So what is the playbook Why did this understand more about this virus The second of course we're big Protect And he says if the vaccines need to be tweaked can be done in 100 days or less The reports so far are that oma karon is apparently far more transmissible but symptoms appear to be mild so far the fear without vaccinations more people who are infected allow the virus to mutate In San Francisco I met Baxter this is Bloomberg our brain All right thank you very much The time is 8 minutes past the hour Let's get to our guest It's Thomas Hayes chairman of great hill capital with this for a great discussion So Thomas before this coronavirus new variant on the hit inflation was really the sort of front burner issue for investors Let's talk a little bit about inflation This omicron do you think it makes inflation worse Because of additional bottlenecks in supply chains or better because business was slow and retailers will have to cut prices to generate business Well you don't want business to slow Brian That would be a big problem if you started to see factory shutdowns in Vietnam and the reemergence of the supply chain bottlenecks that are now started to get work through You have the two components You have the supply chain that we're hopeful is temporary and we're hopeful that this will be another variant that is just another blip that will power through But then you have wages which were happening before omicron and that are sticky So we are going to have above trend inflation But that's not necessarily a bad thing I do think these supply chain bottlenecks and omicron will work through that over the next three to 6 to 9 months That part will stop going up but wages are going to remain elevated and give us above trend inflation for some time And that's apparent in 5 year break evens The very nature of a pandemic is that the virus mutates and we see new variants Why has there been such a reaction to this You know that's a great question Juliet we came into the bad news on Friday morning here in the U.S. The market was a little bit overbought a little bit frothy but you also saw among retail investors cash holdings fell to 46% of margin balances That was the lowest reading back to 1997 So I think what you saw on Friday is a ton of retail what they call stop loss orders were taken out during the shortened trading session and the vix hit 28 which over the past 6 months has been the level where the market bottomed and bounced multiple times So I think it was just a positioning and a surprise news and a lot of professionals were not at their desks on Friday Yeah That might be true I'd like to say you're right but I think policymakers politicians are overreacting Well I don't know if they're overreacting They are reacting very strongly just like the markets reacted very strongly So it's not just a market story Let's hope that we know so much more in a week or two that we can make the right policy Bloomberg economics is actually predicting a doubling of the pace of tapering for the fed at the December meeting even with the omicron variant I'm curious and that could allow for rights to go up as soon as March I'm curious whether you think that's urgent and needed Well we have Thomas Hayes with us but we might have lost him for a moment there Let's see if we can get.
Bloomberg Radio New York
"oma cron" Discussed on Bloomberg Radio New York
"Dean kodiak And I'm Susanna Palmer in the Bloomberg newsroom Symptoms linked to the oma cron coronavirus variant have been mild so far that according to a COVID-19 adviser to the South African government and the Pretoria Doctor Who first sounded the alarm about the new strain While South Africa which first identified the new variant currently has over 3200 people with the coronavirus infection there has been no real uptick in hospitalizations says Barry shoop chairman of the ministerial advisory committee on vaccines He was speaking with Sky News today Meantime doctor Anthony Fauci speaking on ABC's this week says the variants strength is a mystery We don't know yet what the level of severity will be Moderna chief medical officer Paul Burton said he suspects the new omen crime coronavirus variant may allude current vaccines and if so a reformulated shot could be available early in the new year Burton said today on the BBC's Andrew Marshall that we should know about the ability of the current vaccine to provide protection in the next couple of weeks He also said if we have to make a brand new vaccine I think that's going to be early in 2022 before that's really going to be available in large quantities He added that the remarkable thing about the mRNA vaccine is that we can move very fast Police say don't confront so called smash and grab robbers hitting high end retailers as people shop They say call 9-1-1 If you feel safe and try to remember any details you can Officers in several cities are being strategically placed near retail stores Former FBI agent Brad Garrett says a big challenge could be copycat thieves They tend not to be an organized group from the standpoint of fencing jewelry of having organized crime involved Stores including beta in San Francisco are now shelling out $30,000 a month for around the clock security Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is Bloomberg You're listening to balance and power with David Weston on Bloomberg radio Still to come this hour.