17 Burst results for "Steven Engel"
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"Selling them 100 of these missiles along with test equipment and very importantly modifications to their current launcher kit. Yes, the State Department Tony said, Tony says his proposal was made under provisions of a 2010 sale to the island and so technically it is not new, but it's classified as an enhancement to the earlier deal at the time of that deal infuriated Beijing that the U.S. pulled back. The deal is due to be published in the congressional record tomorrow, so we'll see what happens. Some announcement as Doug set out of Beijing today, Bloomberg's John Lu. So what we know so far is that the city of Beijing will no longer require people entering most public venues to show a negative COVID test. They have been requiring that for the last few months as during this latest wave of COVID that's hit the country. So you can now go to the supermarket, you can go into an office building without having a negative COVID test. It is, again, an additional step in this loosening that we've seen that China has started out in the last couple of weeks. Later there may be a reclassification of the latest variants themselves will have to see. China's president of Xi Jinping appears to have confirmed the pivot away from COVID zero while not directly addressing it. He says a protest were basically young frustrated young people and then said the omicron variant is more mild. So Bloomberg cherry on says the pattern here is very clear. We're seeing now is more of these local governments trying to adhere to COVID restrictions being rolled back. So we saw some of the biggest cities like Shanghai which remember had a two month grueling lockdown actually scrapping PCR testing requirements to enter most public venues. Same thing for Hangzhou which is home to Alibaba same thing for Shenzhen Dahlia and some of those big names and big cities. And sherry says probably no formal rollback until April. And the U.S. CDC is seeing what it's calling a triple demic CDC director doctor Rochelle Walensky says people are getting flu var not getting flu vaccines. Internally, for some of these higher risk groups like children and adults over 65 and pregnant people, we are seeing lower rates of vaccination compared to this time last year. Yeah, she said shot fatigue is real, but that this could be a very bad year if it continues. In San Francisco, I met Baxter back to Hong Kong. This is Bloomberg and this is Stephen engel. It is Steven engel, and we're going to take a quick break and come back with a very interesting interview with Mark Hutchinson. He's CEO of fortescue future industries. Of course, for the skew is the big iron ore producer in Australia, but chairman Andrew Forrest has been branching out into cleaner energy and other initiatives under the FFI brand. Fortescue, future industries that includes green hydrogen and renewable energy. We're going to talk that through with Mark hutcherson coming up just after the break. As always, this is Bloomberg. Tomorrow, Bloomberg radio and television speak with Goldman Sachs
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"Asian business headquartered in Hong Kong Still none of HSBC's biggest shareholders have come out publicly in support of ping an's proposal I'm Rosalind chin Bloomberg daybreak Asia It is 5 minutes past the hour time now for global news Beijing and Shanghai have resumed mass testing as COVID cases rise Let's get to Ed Baxter in San Francisco it All right Jules I planned reopening of schools in the capital just days after the two ended social curbs had been in place for a month Yeah not going to happen Beijing started in several neighborhoods in the Xiao Yang district after a flare up and a bar end and a 5 day streak of COVID community spread The quick escalation adds to concerns that China's COVID zero strategy may send cities that repeated lockdowns and then reopenings and then lockdowns China and the whole trying to balance COVID zero with the economic recovery Hong Kong cases are rising as well Latest count day to day more than 800 and this is the second straight day authorities warn numbers could continue to rise with the easing of social restrictions and travel curbs they say for example 106 of the 814 are imported Bipartisan group of U.S. senators has reached a tentative deal on gun safety leaders say it includes giving grants to states to implement red flag laws which could potentially allow courts to remove guns from potentially dangerous owners And it could provide for more school safety as well Senator Richard blumenthal says it's a start Endorsed by ten Republicans and so this framework definitely could pass with 60 votes Yeah measure also includes provision to improve background checks for younger gun buyers and looking to records of domestic violence abuse convictions and restraining orders China's defense minister why Feng Q saying that it is up to the U.S. to improve the bilateral relationship saying tens are things are at a very crucial juncture And China's warning the U.S. and its strongest fashion yet over the risk of war over Taiwan Bloomberg Steven engel says it entails involvement in the Taiwan strait Taiwan of course is the flashpoint the potential flash point sources are telling us that the United States is hearing increasingly behind the scenes from top level Chinese officials that the Taiwan strait is increasingly becoming a no go for U.S. naval vessels The U.S. assailed the Taiwan strait for years and the House committee investigating the January 6th capitol insurrection attempt will use upcoming hearings including the next one tomorrow to show connections between the rioters and former Donald Trump inner circle a former president The committee member Adam Schiff on ABC says some focus on the chance of hang Mike Pence We will I think be demonstrating the proof behind that comment Everything that the chair and vice chair said during our hearing was well documented and analyzed and dotted every I and crossed every T and Schiff says a president presented the option that maybe he wasn't a bad idea And we're getting reported now a new headline up on the Bloomberg that China reports 143 local COVID cases for June 12th In San Francisco Ahmed Baxter this is Bloomberg Yeah thanks very much It is a tricky one on the Taiwan straits The U.S. sees it as international waters China sees it as domestic in that it claims Taiwan is a runaway province And the U.S. in some sense agrees that Taiwan and China are part of one China So it's a nettlesome problem And it's a perfect lead in to get to our guest Sean Taylor apac CIO of DWS I wanted to mention that in addition to that geopolitical angle this morning you also have more restrictions coming online in China So all morning long we frame the inflation story I haven't had a chance to talk quite so much about the possibility of further lockdowns in China How much will that be affecting markets.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"On BBA NATO is saying it is not seeing a drawdown in Russian troops along the Ukrainian border Let's get the latest Ed Baxter covering it all from the Bloomberg 9 60 newsroom in San Francisco Eddie Yeah that's right Doug as a matter of fact NATO secretary general Jan Stoltenberg says quite the opposite What we see is that they have increased the number of troops and more troops are on their way After meeting with defense minister says this is the new normal with Russia and says fortifying positions Minister decided to develop options for further strengthen NATO's deterrence and offense Including to consider establishing new NATO battle groups in central and eastern and southeastern Europe And border concerns echoed by U.S. Secretary of State Antony Blinken saying the U.S. is seeing more Russian troops President Putin's put in place the capacity to act on very short notice He can pull the trigger He could pull it today He could pull it tomorrow He could pull it next week The forces are there if he wants to renew aggression against Ukraine And the State Department has just released its intelligence reports saying that an additional 7000 troops have been added in the past couple of days to what was already there U.S. President Biden has met with German Chancellor Schultz today the readout only says they briefed each other and promised continued transatlantic coordination Their immediate reports in Hong Kong that will hold citywide testing next month The report says the government hopes to test 7 and a half million to 8 million the population will be conducted in one to two weeks In hopes to isolate all infections by the end of March and that creates more problems as isolation space is very limited So Bloomberg Steven engel reports Carrie lam is said to be asking the largest property tycoons to open up some of their hotel rooms.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"News In Hong Kong reporting a record number of COVID cases today and that number basically doubling every three days it Baxter has details it yeah I do the math exponentially this could be very large Paul This has the government on the road going back to much more stringent separation policies it looks Carrie lam speaking before the legislative council meeting saying that the region will stay with what she's calling dynamic zero The choice is living with the virus and more restrictions for COVID zero obviously And Bloomberg Steven engel says an adviser says there's danger of an explosion in the number of cases If people do not heed the encouragement of the government to not congregate and to stay at home then we're going to be seeing the likelihood of 10,000 cases at least a day within the next couple of weeks And if that happens then he is recommending that the social distancing restrictions be increased quite considerably and basically wipe out about 70% more of what freedom we have to congregate in Hong Kong right now Yeah and going along without Stephen reports that Carrie lam is urging residents to stay home now as the virus spreads So sing Tao says the plan that should be released later today will be to tighten public gathering limits to two and restaurants to two per table So with Hong Kong seemingly sticking with this COVID zero dynamic zero whatever Carrie lam calls it many parts of the U.S. appear to be going on the opposite direction in New Jersey governor Phil Murphy is lifting school mask mandates effective in a month saying.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"Next We've got in Hong Kong a number of COVID cases now at a record We're basically seeing a doubling every three days at Baxter covering it all from the Bloomberg 9 60 newsroom in San Francisco Eddie Yeah I got a four year dug but I got asked because I'm well I'm not very bright but were you kidding when you talked about that It was tongue in cheek What It was tongue in cheek Okay don't bite yourself I didn't see I didn't see that So thank you Yeah Hong Kong is reporting out a record number of COVID cases And this has the government on the road going back to much more stringent separation policies The choice is living with the virus or more in restrictions for COVID zero And Bloomberg Steven engel says the executive council meets today and an adviser says there's a danger of an explosion in the number of cases If people do not heed the encouragement of the government to not congregate and to stay at home then we're going to be seeing the likelihood of 10,000 cases at least a day within the next couple of weeks And if that happens then he is recommending that the social distancing restrictions be increased quite considerably and basically wipe out about 70% more of what freedom we have to congregate in Hong Kong right now Steven says chief executive Carrie lam said last week she's leaning toward going back to further restrictions and sing Tao thinks it knows it is reporting out to plan to be to tighten public gatherings limit to two restaurants to two per table as a start While Hong Kong.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"The U.S. is ordered families of diplomats to leave Ukraine at Baxter's in San Francisco with the latest dead Yeah Julian Wright U.S. officials say Russia could invade now at any time The sources tell Bloomberg the U.S. embassy in Kyiv will remain open and does not student evacuation and the support for Ukraine remains strong and intact This is a New York Times reports president Joe Biden is thinking of sending troops into the region and NATO moving warships in as well U.S. Secretary of State Antony Blinken meanwhile says it's too early to up the sanctions on Russia Lincoln says Russia knows what NATO U.S. stance is and what its his decision now talking about Putin asked on NBC if he thinks Vladimir Putin is just stalling to become more prepared for an invasion It is certainly possible that the diplomacy that Russia is engaged in is simply going through the motions and it won't affect their ultimate decision about whether to invade or in some other way intervene or not in Ukraine But we have a responsibility to see the diplomacy through for as far as as long as we can go And he says NATO allies continue to fortify positions while Russia delays and ultimately it is Putin's decision All of this coming is Taiwan is reporting out 39 Chinese military aircraft under Taiwan southwest air defense identification zone yesterday Taiwan says it sent air force patrol issued radio warnings and deployed air defense missile systems during the incursions Japan's prime minister Fleming Keisha and a call with U.S. president Joe Biden pledged to seek swift resolution over continuing talks about trade with China while pushing back on China's expansion efforts Hong Kong reports highest case numbers in over a year over 140 daily Bloomberg Steven engel says strains are definitely being felt Already of course the quarantine facilities here out of pennies bay are hit to the max And we're having new clusters come up A 125 of those a 140 new cases found in Hong Kong in a daily tally were locally transmitted 94 of them tied to the so called kwai Chung cluster That is the container port area And chief executive Carrie lam says COVID must be brought to zero It's the only good policy and it takes hardship Making this sacrifice in order to contribute to the anti epidemic efforts of Hong Kong And I'm extremely grateful for all those people who have been obviously affected And partly personal here in leading up to Dan I won't try to hide my love for the San Francisco forty-niners Here in San Francisco But you have to feel for the packers fans after last night and nowhere better summed up than packers radio coverage of the niners winning field goal.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"Prices and auto sales also declined dealers struggling to get cars but it does appear core sales were strong Everything from toys to sporting goods and clothing Americans incomes were bolstered by government fiscal aid and rising wages particularly at the lower end of the income spectrum the not so necessarily good news is retail sales will also benefit from soaring inflation as sales are reported in dollar figures Michael McKee Bloomberg daybreak Asia China evergrande has dodged another bullish the developer avoiding what would have been its first default on a public onshore Bond Bloomberg Steven engel tells us more They had requested investors vote yesterday Thursday to a 6 month delay on a early payment schedule That was originally due January 8th Now the majority of those voters of investors yesterday approved it So we're assuming that that means it is a 6 month delay in that payment on the $707 million bond But again it just pushes things down the road further Have a grand has more than $300 billion in liabilities as of mid 2021 it has been prioritizing payments to migrant workers and suppliers this under orders from regulators to fend off any risk of social unrest We are seeing evergreen shares up 6 tenths of 1% on the open in Hong Kong after three and a half percent drop on Thursday Let's get more market action now with Bloomberg's Brian Kurtz Brian So I read the headline too quickly and I got really excited because the headline reads and I'll tell you why it excited me Biden picks Raskin as feds bank regulator rounds out board I thought it said rounds on board and I thought oh the president criticizes the fed This could be pretty saucy but it turns out that it just rounds out And the reason I mention that is I got a point mention a bunch of names here for you President Biden picks Sarah bloom Raskin to be the fed's top banking regulator So that was the big one but also picked Lisa cook and Philip Jefferson to be governors So this means now that the president has completed his overhaul of leadership at the fed The selections according to people familiar with the decision keep a Biden promise to improve diversity at the fed while adding potentially dovish voices to a policy debate And officials at the moment are leaning in the other direction they're leaning hawkish and that's one of the things that dragged down tech shares overnight on Wall Street we had the NASDAQ down more than two and a half percent a drop of 381 points today And that kind of selling is fed through to the Asia Pacific The nikkei is down one and a half percent the SX 200 and Sydney down about 9 tenths of 1% And we're just getting the trading here in Hong Kong and China shares The hang sing tech index is down 3.1% So I can hear you saying here we go again These stocks have been up and down as much as 50 60% and they're selling off a little bit more today The CSI 300 is down about 6 tenths of a percent and in Taiwan the tye X which opened higher is now lower down 7 tenths of 1% So a pretty rough day at the office Bank of Korea raised interest rates for the third time since last year in the middle of the year The quarter percentage point increase to one and a quarter percent brings that rate back to where it was a couple of years ago before COVID-19 actually hit The offshore Chinese currency steady 6 36 44 against the greenback The greenback is also a little bit steady down maybe less than a tenth of percent dalian one 13 92 Juliet back to you Thanks Brian 35 minutes past the hour time for global news Workers vaccine mandates based on osha workplace orders have been struck down by the U.S. Supreme Court at Baxter has the latest in San Francisco it Yeah exactly right Juliet the U.S..
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"In Singapore I'm Juliet sali And I'm Brian Curtis I'm in Los Angeles normally based in Hong Kong and looking at the Asia Pacific We do see losses across the board to me these losses feel a bit fragile like they may not last I often argue from the bullish side you probably know that if you listen to the show a lot But looking at TSMC's earnings a pretty solid and also the projections going forward and Jules just told us a few moments ago about fast retailing coming in that stock is up about 6.6% this morning So we'll see it is a Friday and you know we did have a lot of hawkish sounds coming out of the fed Juliet Well more fed officials sounding off on inflation Chicago fed president Charles Evans saying the fed could hike interest rates four times this year That's if inflation data doesn't improve quickly enough We need to get inflation back down in the ballpark of our 2% objective I think it's probably going to be at the end of this year It's going to be elevated I don't think it's going to be 3% at the end of this year And I think it's more likely to be two and a half as measured by the personal consumption expenditure Meanwhile outgoing fed vice chairman Richard clarendon said the Central Bank's plans to raise interest rates this year is justified within its new policy framework He added that once his supply chain problem eases the current inflation will prove to be largely transitory And up next U.S. retail sales numbers for December that'll be coming tomorrow morning at 8 30 Wall Street time Bloomberg's Michael McKee has a preview The Obama crime variant will weigh on the retail sales numbers as many bars and restaurants were forced to close during the holiday season Gasoline prices and auto sales also declined dealers struggling to get cars but it does appear core sales were strong Everything from toys to sporting goods and clothing Americans incomes were bolstered by a government fiscal aid and rising wages particularly at the lower end of the income spectrum the not so necessarily good news is retail sales will also benefit from soaring inflation as sales are reported in dollar figures Michael McKee Bloomberg daybreak Asia China Evan has dodged another bullish the developer avoiding what would have been its first to fall on a public on shore Bond Bloomberg Steven engel tells us more They had requested investors vote yesterday Thursday to a 6 month delay on a early payment schedule That was originally due January 8th Now the majority of those voters of investors yesterday approved it So we're assuming that that means it is a 6 month delay in that payment on the $707 million bond But again it just pushes things down the road further Have a ground has more than $300 billion in liabilities as of mid 2021 it has been prioritizing payments to migrant workers and suppliers based under orders from regulators to fend off any risk of social unrest Let's check in on markets We are seeing weakness across the board in a K two two 5 down by 1.3% We were mentioning uni clothes on a fast retelling though rising the most in March 2020 after its first quarter beat And we've seen the Japan 5 year note yield rise to its highest since January 2016 On Wall Street though it was a story about these tech shares tanking the NASDAQ down two and a half percent led by losses in Microsoft and Tesla and we saw treasuries jump with the ten year yield below 1.7% but it's not 1.71% The fed's Christopher Walla also saying that three 2022 rate hikes are still a good baseline We're looking ahead to the bank of Korea it may leave its benchmark interest rate unchanged at 1% according to Bloomberg economic signing the impact of omicron They think that that rate hike could be pushed out until February the be okay entering 2022 with a focus on reigning in inflation as is the theme across most of the globe of course it ended 2021 will above its 2% target Also just getting some data out of Australia with home loan values up 6.3% in November invest our own occupy loan values up 7.6% When it comes to the equity market in Sydney down 9 tenths of 1% South Korea's cost be off by 8 tenths of 1% WTI oil just under $82 a barrel and Brian the yen at a 114 to the dollar Yeah so we've seen some strength for sure in the Japanese yen All right it is now just about 34 minutes past the hour It's time for global news Well workers vaccine mandates on U.S. government orders have been struck.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"No dining after 6 closing some venues including bars and gyms Bloomberg's Steven engel in Hong Kong says is that this is to align basically with China zero policies You know Hong Kong's in a bit of a pickle because on a global scale Hong Kong's in pretty safe position We did not really have much of a delta outbreak here and because of course Hong Kong has been adopting this COVID zero approach a similar to China But on the flip side of that it has a very low vaccination rate compared to other developed economies about 62% And Steven also says as well sinovac vaccine is not proven as effective against the omicron variants So they're very worried about cases going up Meanwhile Hong Kong has now stopping flights in from 8 countries for the next two weeks at least Australia Canada France India Pakistan Philippines UK and U.S. Meanwhile Australian prime minister Scott Morrison has held a news conference addressing a number of things this morning Now we're going to have Dan with a details on novik Djokovic in just a moment But the prime minister has said it's not about one person It is that no person can come into the country with a proof of full vaccination It is a matter of rules As I say Dan will have more meanwhile Morrison has said the signing of a treaty with Japan today is major The landmark treaty that we will commit to today the reciprocal axis agreement as it is known will usher in a new chapter in advanced defense cooperation between Australia and Japan to deal with I knew and even more challenging environment particularly within the indo Pacific And Morrison also saying that price gouging on COVID tests will not be tolerated These are the same price gouging provisions that we put in place earlier in the pandemic for things like hoarding and supplying at price gouging rights personal protection equipment and things of that nature I says more than a 20% markup can be met with fines and even criminal charges In the U.S. case rate is going straight up CDC director doctor Rochelle Walensky says home a crime Based on CDC genomic sequencing we now estimate that oma crown represents about 95% of cases in the country and delta represents the remaining 5% of the cases CDC also gone ahead with Pfizer boosters for 12 to 17 year olds and North Korea is now saying the projectile that was fired off yesterday that we reported to you was hypersonic The north says it flew about 700 kilometers and accurately hit the target In San Francisco I met Baxter Let me target mister Kushner here Did I get you You did indeed Thanks Ed Let's get to Dan Schwartzman so we can target global sports A den Dan Novak Djokovic denied entry into Australia What does it mean for the open Well first it means it's an international incident.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"Some strict virus controls for the first time in almost a year let's get to Ed Baxter and San Francisco with the details it Yeah exactly right Juliet no dining after 6 closing some venues including bars and gems Bloomberg Steven engel in Hong Kong says this to align with China zero policies on COVID You know Hong Kong's in a bit of a pickle because on a global scale Hong Kong's in pretty safe position We did not really have much of a delta outbreak here and because of course Hong Kong has been adopting this COVID zero approach a similar to China but on the flip side of that it has a very low vaccination rate compared to other developed economies about 62% Yes Steven says as well the sign of a vaccine is not proven as effective against the omicron variant Hong Kong also now stopping flights in from 8 countries for the next two weeks at least Australia Canada France India Pakistan Philippines UK and U.S. and we're getting headlines moving on the Bloomberg terminal that China has fired as Xian hospital staff and warns of wrongdoing amid the lockdown Prime minister Scott Morrison has held Australia of course is held a news conference addressing a number of things Now Dan will have details on Novak Djokovic in a moment but the prime minister has said it's not about one person in that case But that no person can come in other country without proof of full vaccination It is a matter of rules I say Dan will have more coming up on the impact Meanwhile Morrison has said the signing of a treaty with Japan today is major The landmark treaty that we will commit to today the reciprocal axis agreement as it is known will usher in a new chapter in advanced defense cooperation between Australia and Japan to deal with I knew and even more challenging environment particularly within the indo Pacific And the p.m. Morrison also touching on price gouging on COVID tests as will not be tolerated These are the same price gouging provisions that we put in place earlier in the pandemic for things like hoarding and supplying at price gouging rights personal protection equipment and things of that nature He says more than a 20% markup can be met with fines and even criminal charges In the U.S. case rate going straight up straight line CDC director doctor rashel walensky says oh Macron Based on CDC genomic sequencing we now estimate that oma crown represents about 95% of cases in the country and delta represents the remaining 5% of the cases CDC also gone ahead with Pfizer boosters for 12 to 17 year olds and very interesting dynamic to play out tomorrow if it goes as advertised White House is saying that security for the capital for tomorrow's anniversary of the January 6th insurrection attempt is very tight But in the president will address the nation and spokesman Jen Psaki says he will actually focus on Donald Trump President Biden has been clear eyed about the threat the former president represents to our democracy and how the former president constantly works to undermine basic American values and rule of law Sake says Trump motivated the mob to go to the capital In San Francisco I met Baxter This is Bloomberg Brian All right Ed thanks very much 38 minutes past the hour Let's get to global sports Dan Schwartzman is looking at Chelsea pulling off a big win Yeah Chelsea does win big at the carabao cup semifinal first like batch over Tottenham two nil at Stanford bridge Kai Harvick scoring in the 5th minute Ben Davies putting in an own goal in the 34th minute second leg is gonna be held at Tottenham Hotspur Stadium January 12th Meanwhile Thursday's first leg between Liverpool and arsenal has been postponed as a red deal with the COVID outbreak The first leg of Anfield has now been moved to January 13th with the return leg at Emirates scheduled for the 20th As at Baxter just said what a story it is coming out of Australia the top seed Number one overall Novak Djokovic he has been denied entry into Australia after waiting for close to 12 hours at the airport.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"Life two two always look for ways to improve the lives of blacks in South Africa And I believe the best about everyone He was an outspoken social rights activist who gained worldwide fame during the 1980s for leading a movement against white minority rule He was awarded the Nobel Peace Prize in 1984 Michigan representative Debbie dingell and Fred Upton are calling for more bipartisan cooperation on Capitol Hill appearing together on CNN's State of the Union this morning They emphasize how important it was for Democrats and Republicans to work together Upton a Republican noted the work environment on Capitol Hill has become toxic More than 1200 flights have already been canceled or delayed today across the U.S. flight aware data shows a growing number of flights being affected that day after Christmas as some Americans head for home from their holiday destinations I'm Brad seeking And Ogden is Pellegrini in the Bloomberg newsroom The scramble to find those rapid at home COVID tests continues here in the tri state area and beyond as we move toward New Year's Eve's celebrations In cherry hill New Jersey Ross fleischman among those looking for tests Ahead of a bigger plan gathering this year than last Last year was more isolated Yeah we're seeing more people This year As we've been reporting COVID may be with you for longer than you think a new study for publication in the journal nature shows the virus can spread within days from the airways to the heart brain and almost every organ in the body where it can persist for months Global COVID search continues record number of new cases in multiple countries China reporting the highest daily number of infections since January China's Central Bank being time following greater support for the real economy And Bloomberg Steven engel says property developers could be under more pressure after a string of default slightly First quarter is going to see not only more maturities and more coupons do for these developers but also these deferred wages that they have not paid to the migrant workers and engel also says COVID is adding an extra layer of challenge to that problem And Amazon workers across the U.S. now face fewer hurdles to organize More on what's happening there from Bloomberg's Christmas It's part of a settlement Amazon reached with the national labor relations board Amazon is required to inform past and current workers of their rights and to ensure them the company can not interfere with labor organizing on company property after hours Labor organization and worker activity is on the rise in Amazon facilities across the country on Wednesday a group of workers and organizers in Staten Island refilled a union petition with the NLRB after failing to meet the signature threshold in the fall I'm doctor Bloomberg radio All right thank you Doug At global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than a 120 countries In the news her mind Denise Pellegrini this is Bloomberg Broadcasting live from the Bloomberg interactive broker studio in New York Bloomberg 11 To Washington D.C. Bloomberg 99 one to Boston Bloomberg one O 6 one This entrances go Bloomberg 9 60 to the country Syria's XM channel one 19 and around the globe the Bloomberg business act and Bloomberg radio dot com This is Bloomberg best I'm at Baxter and I'm Denise Pellegrini at you probably been hearing all the news stories about both Really the wave of organized retail theft sweeping some parts of the country Oh yes I have It's been happening here in the Bay Area And law enforcement and other government officials in the Bay Area and elsewhere are stepping up the fight against those smashing groups Now California is committed more than $200 million.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"So we are expecting a pretty good day here Brian Texas leading U.S. equities to their biggest rally in 9 months Hey Jules let's get over to Doug Yeah It's been a while I hope you're doing well in Australia I think it's the important to distinguish between trading a market and investing in it We had a pop here in U.S. equities today and that seemed tied to the story on investing as opposed to trading Some early analysis when it comes to the omicron variant suggests of yes more contagious than earlier versions but it's not more severe and causing harm One example GlaxoSmithKline saying that research on its COVID-19 antibody treatment is effective against the full combination of mutations on the new omicron variant So you can add a little bit of bullishness when we consider the U.S. deal on raising the debt limit We'll have a closer look at that momentarily In terms of the equities space today it was all about technology We had a rally in the NASDAQ composite picking up about 3% S&P today higher by 2% where the Dow was concerned again about just about 1.4% An all time high for Apple CEO Tim Cook has reportedly struck a $275 billion deal with China to ease a crackdown on its business there and Intel is planning to list shares of its Mobileye self-driving car business in the middle of next year We had shares in Intel today up about 3% as well Ten year treasury last quoted in New York up about four basis points where one 47 now as we get set for trading in Asia and a little bit of dollar weakness I think we're going to have to deal with that as well Brian Well that will be pleasing to many investors in Asia for sure the dollar down like that about a quarter of a percent and we'll see this mood this was a very strong mood yesterday too So I'd call it day two of investors assuming that the omicron variant is not as deadly as feared All right let's get to some of our stories here We are hearing that some of China evergreens bondholders have yet to receive over to coupon payments $2 notes sold by the unit scenery journey were due on Monday and the 30 day grace period has now ended while a default has not been declared S&P said yesterday that it is inevitable Let's get to Bloomberg Steven engel on what the big question is Can Xi Jinping can Beijing if they're not going to give a bailout Will they be able to contain a potential contagion Already ten developers smaller developers in Guangdong province and other parts of China have defaulted and more are lining up The PBOC said last week that the risks from immigrants debt crisis can be contained and it's the developers own poor management It said that got it there Well Republicans and Democrats in Congress have agreed on a deal to raise the U.S. debt ceiling Bloomberg's Kathleen Hayes tells us what the key point is here It's going to allow them to raise the debt ceiling Ultimately a series of steps without any Republican votes of this deal Mitch McConnell saying it's in the best interest of the country and in the best interests of Republicans and Schumer saying we don't want a long wrangling out here Democrats will would carry on this deal The burden of raising the debt limit but there is some procedural gimmickry And the gimmickry essentially involves two bills The first bill sets up the debt limit process and would need ten Republican votes in the Senate to advance but that itself doesn't raise the limit A second bill to raise the ceiling can then be passed with just democratic votes All right the time is 5 minutes past the hour coming up in a few moments We'll get to Frances Donald chief macro strategist at manual life asset management to get her outlook on the markets Well it is time now for global news.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"I'm Brian curtiss in Los Angeles Let's check this hour to stop business stories and the markets China is planning to ban foreign IPOs that use variable interest entities which is known as the VIE structure It allows investors to hold a controlling interest in the company without the voting privileges Bloomberg Steven engel tells us the Chinese companies have been using VIE to not break laws at home The laws were in place to prevent foreign investment in sensitive industries like the Internet Now the VIE structure was a way the sidestep that If you cut that off which we're hearing from sources that significantly alters the landscape of how Chinese companies will be able to raise capital overseas cuts off a lucrative line of business for Wall Street of course but then again the sources are also telling us that it would not necessarily apply to Hong Kong listings In the meantime China's securities regulators said that reports about banning overseas listings of companies is not true but there were no further details given and they did not respond to a note asking questions from Bloomberg The U.S. Ireland Norway and South Korea have reported their first cases of omicron The chief scientist of the World Health Organization said that vaccines will likely protect against severe cases of the new variant Asian equities are lower earlier U.S. stock struggled through a two day sell off the worst since October of last year the latest developments on the omicron strain weighed on markets the U.S. confirming its first case in California Let's check the Asian markets in detail here The hanxing index is actually trading higher now up four tenths of a percent but the hang sang tech index is down 1.2% The nikkei is off two thirds of 1% but stocks are higher in Seoul with the cost be up 1.1% and the tax in Taiwan gaining about four tenths of 1% Global news 24 hours a day live and at Bloomberg quick take in Los Angeles I'm Brian Curtis This is Bloomberg.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"Wall Street and we check the markets every 15 minutes throughout the trading day on Bloomberg S&P futures up 8 points down futures up 77 NASDAQ futures up 30 the tax in Germany's up to tenths of a percent cat and Paris have three towns of upper and the footsie 100 little change ten year treasury at 5 30 seconds The 1.54% that yield on the two year .50% Nymex screwed oils down 1% or 81 cents at $79 98 cents a barrel and comics gold is down to 10% at 1864 40 an ounce Nathan All right Karen thanks We'll get back to the markets in just a minute but we begin this morning with geopolitics President Biden and Xi Jinping hold their first virtual summit today as tensions run high between Washington and Beijing We get a preview from Bloomberg Steven angle in Hong Kong They're prickly issues obviously front and center on geopolitical front is Taiwan There's been a lot of barbs traded back and forth about voicing support from the United States And of course Taiwan issue of independence is one of those red lines geopolitically for Xi Jinping and China So the bar set low for deliverables if you want to use State Department parlance but again the fact that these two will be having face to face virtual talks is a good sign Bloomberg Steven engel says President Biden and she have spoken on the phone twice this year but this is the first time the conversation is being billed as a summit And the meeting comes as there are more calls from home for President Biden to tame inflation gas prices are at a 7 year high and that has The White House considering whether to tap the strategic petroleum reserve Senate majority leader Chuck Schumer wants action Emerging.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"We're hearing some signs that financial issues will be part of the talks between President Biden and China's leader Xi Jinping tomorrow with that and other global news let's get to the Bloomberg newsroom and Denise Pellegrini Denise That's right They'll be meeting virtually President Biden and China's leader tomorrow night Washington time and we're hearing that treasury secretary Janet Yellen will be joining President Biden in that meeting Bloomberg Steven engel This is a push by Joe Biden to really escalate these talks to the presidential level Face to face between these two leaders as past meetings over the last year between more junior officials has not really progressed or moved the ball forward really And as for treasury secretary Janet Yellen's participation in the Treasury Department says the meeting will discuss ways The countries can manage competition between each other responsibly and also ways to work together where interests align Taiwan will also be a likely point of contention China hunkering down meantime for another wave of COVID is cold weather sets in Here's one Chinese official through a translator Experts Believed that the control for these winter and the upcoming spring will be more difficult than last year New COVID worries meantime in Europe Austria is putting unvaccinated people in lockdown starting tomorrow and in Germany they're considering calling in troops a crisis meeting is scheduled for this week Possible movement this weekend President Biden's build back better plan Brian dies head of the national economic council says the house will pass the bill this week and send it to the Senate There will reduce the deficit over the long term So we have a fully paid for plan to go directly at the cost that typical Americans are facing And desa and ABC this week occurred here on Bloomberg radio Negotiators from almost 200 countries have clinched a climate deal at cup 26 in Scotland to boost climate targets sooner cut fossil fuel subsidies and also cut coal use according to Bloomberg's Maria taddeo in Glasgow For the first time explicit language that calls for the phase down of coal and other inefficient fossil fuels now than earlier version called for a face out That would have been much stronger language but nonetheless the compromised version ended up being face down Bloomberg's Maria todayo there And of course we can't go along without another scene with Elon Musk on Twitter this time the Tesla CEO having it out with Bernie Sanders the Vermont senator tweeted that the extremely wealthy should pay their fair share in Musk responded he forgot that Sanders is alive and then said he asked Sanders well if he wanted him to sell more of Tesla's stock just say the word and of course Musk sold Tesla's stock last week and that pushed down the share price.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"And China dealing with some of the highest COVID levels in months so with that in the rest of the day's stories let's get to the Bloomberg newsroom and Denise Pellegrini That's right Paul a Chinese health official saying in a press conference as a matter of fact through a translator that this winter surge in illness could be worse than last year There is persistent risk combined from COVID-19 influenza and other respiratory tract infections and meantime China's COVID czar says strict COVID measures in that country will be there to stay for a while that's in chinois saying the Agnes has firmly defended Beijing's zero tolerance approach and calls it the most efficient way to protect the country from COVID Tens of thousands of university students are currently in lockdown in the COVID hotspot of dalian in northeast China this hour President Biden and China's leader Xi Jinping will be meeting virtually tomorrow night Washington time and Bloomberg Steven engel says this summit involves the two sides having really a lot to disagree about Taiwan has been a flashpoint Both sides have been exchanging kind of barbs on Taiwan and also of course China would like to see greater progress on access to U.S. high-tech exports Engel though does also say that U.S. China relations do appear to be improving a little bit from the Trump era possible movement this week on President Biden's build back better plan Brian dies head of the national economic council says the house will pass the president's massive build back better social spending plan this week and send it to the Senate There were reduced the deficit over the long term So we have a fully paid for plan to go directly at the cost that typical Americans are facing And he's there on ABC this week Curt here on Bloomberg radio Negotiators from almost 200 countries have clinched a climate deal at cop 26 in Scotland to boost climate target sooner cut fossil fuel subsidies and also cut coal use according to Bloomberg's Maria tadeo in Glasgow For the first time explicit language that calls for the phrase down of coal and other inefficient fossil fuels now than earlier version called for a face out That would have been much stronger language but nonetheless the compromised version ended up being phased down And Bloomberg's Maria tadeo reporting there An approval ratings for Japan's prime minister are slipping flip me okay she does disapproval rating rose to 43% meantime this month from 40% last month according to a minute she pull and 44% said they think the plan to give cash subsidies to the public to boost the economy is unnecessary Global news 24 hours a day on air and Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries I'm deduced Pellegrini This is Bloomberg Brian All right Denise thank you very much 38 minutes past the hour We're seeing a big rally in Bitcoin today up about $1475 2.3% Bitcoin now 65,008 11 It's time now for global sports.
Bloomberg Radio New York
"steven engel" Discussed on Bloomberg Radio New York
"6 30 on Wall Street Good morning I'm Nathan Hager And I'm Kerry and Moscow are just about three hours away from the open of U.S. training as he had to up to date on the news You need to know what the shower U.S. futures are rebounding from yesterday's sell off which saw the S&P 500 dropped 1.7% At one point the index was down nearly 3% and Morgan Stanley chief U.S. equity strategist Mike Wilson sees more selling ahead Corrections are always about price and time And so from a price standpoint I think it's ten to 20% Great But time I think you've got to get through the third quarter earnings season Let's see how the revision breath kind of plays through that Let's see how the market digest the fed moving towards tapering by year end Morgan Stanley's Mike Wilson says the fed will be key and today the Central Bank begins day one of its two day policy meeting Officials are expected to hold interest rates near zero while telegraphing the timing on tapering asset purchases U.S. markets are stabilizing this morning There still concern over China's real estate sector There are questions whether China ever grant can make good on $300 billion of liabilities Again more from Bloomberg Stephen ankle and Hong Kong This is a case where if it doesn't create the contagion that Beijing is really worried about it will default It will essentially then go into debt restructuring or ultimately a failure What is happening is the smaller developers that are also have these duller bonds stressed right now They've mentioned China central real estate fantasia rice son and cynic They've all been downgraded to negative by S&P Bloomberg Steven engel says the stress developers shares in Hong Kong dropped as much as 7% before recouping some of those losses Well back here in the U.S. Karen President Biden steps onto the global stage today with an address to the United Nations General Assembly Bloomberg you need a young joins us live from New York with the details Rita Good morning Nathan President Biden's first remarks to the UN come after a U.S. withdrawal from Afghanistan that drew criticism even from supporters Bloomberg news has learned the president will use his address to mark the end of 20 years of war in the country and declare a new era of diplomacy to resolve international conflict The president also plans to make the case for the U.S. and China to cooperate on global threats including climate change His address to the UN is scheduled for ten a.m. Wall Street time Live in New York I'm Renee young Bloomberg daybreak All right we need to thank you on a deal this morning with U.S. Bancorp agreeing to buy MUFG union banks core regional banking franchise.