35 Burst results for "Tom Mackenzie"
"tom mackenzie" Discussed on Bloomberg Radio New York
"We are just underway here in Australia for looking what to expect around the region today. Let's get to Brian Curtis in Hong Kong. Brian Paul, Thanks very much a little bit mixed here in the early going. It could be a quiet day. Today. The SX 200 is down about 2/10 of 1%. The New Zealand ends at 6 50 is up about two tents. Of 1% investors very much looking at the strength of economic recovery and then trying to weigh up what we might hear from the Federal Reserve. So nobody's expecting any move on rates. But there will be forward guidance and it will be comments from your own Powell and there will be a lot of focus on that Benchmark Treasury yields. Hovering at near the highest levels in over a year in terms of equities on Wall Street was a day where tech stocks did well again, whereas some of the other energy and financials sold down a little bit. But it was actually pretty quiet to 4 10 7% down for the Dow 2/10 of a percent down for the S and P. 500 NASDAQ with scant gain. Of 1/10 of a percent. Although the NASDAQ 100 was up more like 6/10 of 1%, the back end of the Treasury curve did sell off a bit a couple of interesting offsetting points that is stronger than expected. $24 billion.20 year bond re opening sale. And then Bill Gross came out and said that he remains short both the tenure futures and also long bonds on the belief that inflation could accelerate up to 3 to 4%. Final quick note on uber. It will re classify all 70,000 of its UK drivers or as workers and that will entitle them to the minimum wage. But Uber also said that it didn't it didn't expect to change its earnings forecast for the court of you. That's Only why the stock didn't move too much in an after hours, Doug back over to you all right, well, the other thing we were dealing with here stateside. The notion of higher taxes President Biden intends to raise taxes on corporations and wealthy Americans. And we're told his plan will also include relief for middle class families. Now that includes couples in the range of making, let's say $110,000 a year. Rajaram Amo Tree is the deputy director of the National Economic Council. But teacher and a nurse who collectively make $110,000 deserve relief, and what we've seen in the data is that families with that kind of profile have suffered. It's important to remember that, according to the latest data, and one in seven American families reported going hungry during the pandemic. There's a lot of Nina's very widespread feet. Now Rodman more tree was telling us. The Biden plan will also encourage large businesses and multinational corporations to boost their investments in the US, and he said the White House will work with Congress. To reach those goals this spring, President Biden is expected to lay out his longer term proposal to a joint session of Congress that has been dumbed build back better. Paul Holloway will start charging royalties to some mobile giants. The payments would grant access to highways patent for five G. Bloomberg's Tom Mackenzie's got more from Beijing. Hallway, which owns the world's largest portfolio. Five G. Peyton's says it will negotiate rates and potential cross licensing with Apple and Samsung. The company aims to get paid despite U. S efforts to block its network gear on shut it out of the supply chain. It's promising to charge lower rates than rivals Qualcomm, Ericsson and Nokia. Quality executives said they expected to rake in about 1.2 to $1.3 billion in Peyton and licensing fees between 2019 on 2021 in Beijing. Tom Mackenzie Bloomberg, Daybreak Asia, All right, We're at five minutes past the hour as we go to Global News.
Huawei unveils flagship foldable smartphone for China market
"Huawei took the rap self, its latest high end foldable smartphone. Bloomberg's Tom Mackenzie has the story from Beijing. The Lords of the $3000 Mate X two, comes after who always found a run Jeong Fe dismissed reports the company plans to sell its smartphone business quality has been hammered by US bands on component. On software sales to the company. Shipments punished more than 40% in the last three months of 2020 as it's in venturing of chips dried up on last year, it was forced to sell its low end on a brand while way is trying to fill the supply gap with its own chips. Peeking at the launch event in Shanghai, the company's CEO said. Capacity is
"tom mackenzie" Discussed on Bloomberg Radio New York
"And, of course, what was over there likely to be a positive here is well as people embrace risk I would imagine and given. We've got weakness in the dollar that's only going toe potentially fuel gains in Asia. Ah, lot of optimism today were shot. We've been talking about this. Expectations for robust federal spending and revitalization of growth in the states. The three major benchmarks finishing at record highs, speaking here of the Dow, the S and P 500, NASDAQ comp. We also had shares in 80 years of Ali Baba rallying by more than 5%. This is after billionaire Jacquemod resurfaced after months of being out of public view of the escalating scrutiny in China over Ma's Internet empire will be talking more about that, as we continue here on daybreak Asia Among the banks reporting Morgan Stanley with a 51% jump in profit quarterly revenue, more than two billion above estimates and the stock was rallying yesterday. In advance of these numbers today, Morgan Stanley gave back just about 2/10 of 1% after the bell we heard from Alcoa. Quarterly earnings above estimates, however, companies warning of higher cost going forward and that may weigh on earnings. This quarter stock was down by as much as 3% in late US trade mentioned the dollar weakness. We also have a slight decline in Treasury yields, not by much. Wish. 10 Year Treasury last quoted here in New York and around 1.8%. All right. Well, let's get back to the new era there in the the U. S. Because China's hit back the exiting Trump Administration with a list of sanctions, remembers Tom Mackenzie sentences from Beijing. China sanctioned 28 Former Trump administration officials for actions, Beijing said seriously disrupted U. S China relations as well as the former secretary of state. The sanctions targeted former national security adviser Robert O'Brien on the U. S ambassador to the United Nations. Kelly Craft, the 28. Their families will be barred from entering China, Hong Kong and Macau on a banned from doing business with China. Beijing also made overtures to the Biden administration. With officials here saying they hope to work together on urging mutual respect in Beijing. Tom Mackenzie Bloomberg, Daybreak Asia four minutes past the hours we get you caught up on global news, Joe Biden. Kamila Harris have been sworn in as president and vice president, respectively, here in the states, and they're promising a new tone. And a new purpose at Baxter, covering this story from the Bloomberg 9 16 Years room in San Francisco, Eddie Yeah, quite a day. Doug Biden's theme unity and this Uncivil war get to work on the virus and then the Economy Day. We celebrate the triumph not of a candidate, but because because of democracy and with a message to the globe lead. Not merely by the example of our power but by the power of our example and a peaceful transition. In the time of doubt, we must end this uncivil war. Pits red against blue, rural versus urban Conservative versus liberal. We can do this. If we open our souls Instead of hardening our hearts and a recurring theme of getting away from lies leaders who have pledged to honor our constitution and protect our nation to defend the truth. Defeat the lives not to be overlooked. Bloomberg's David Westin points to the swearing in of Kamila Harris as vice president. First woman, the first black, the first Indian American to serve in the vice president or any federal office, really Nash nationwide, better office. It was extraordinary moment. So then vice president Harris went on to swear in three new Democratic senators, including Two from Georgia and her replacement from California. So what this does is tipped the balance of power in the Senate to the Democrats. It's 50 50. But Vice President Harris will have of tiebreaking vote and then the president began signing a stack of executive orders, including climate commitment. I made that we're going to rejoin Paris climate Accord of.
"tom mackenzie" Discussed on Bloomberg Radio New York
"The rapid pace that he has called form. Apple CEO Tim Cook has defended the company's decision to remove the conservative APP parlor from its up storm. Cook told Fox News Sunday that Apple doesn't believe free speech and inciting violence should intercept. We have an APP store. It has about two million. AP said it And we have terms of service for these abs. We obviously don't control what's on the Internet. But we've never viewed that our platform should be a simple replication of the Internet. We have rules and regulations and we just ask that people abide by those Apple, along with Amazon and Google removed the parlor up after the riots at the U. S Capitol almost two weeks ago, Cook added, that parlor has only been suspended. He said the APP could be added back to Apple's online store once moderation policies have put into place. China's 1/4 quarter GDP is expected at 10 A.m. Beijing time. Nine PM Wall Street time. Bloomberg's Tom Mackenzie has the preview. China's economy is expected to have expanded 6.2% in the fourth quarter, bringing full year growth to 2.1% in 2020. It's reminder of the country swift economic recovery following the covert 19 outbreak data for December. Is also likely to show the rebound continues. Retail sales have seen rising 5.5% from 5% in November. Industrial production is also forecast to expand from the previous month. While fixed asset investment lightly picked up 3.2% from 2.6% in November. China's exports have bean robust, with demand from its main trading partners holding up despite the pandemic. Cold weather on energy shortages are a potential drag on activity in Beijing. Tom Mackenzie Bloomberg Daybreak Asia, Hong Kong's unemployment rate is likely to top a 16 year high this, according to the city's finance chief, Paul.
U.S. Places Restrictions on China's Leading Chip Maker
"Here in the states, the government is blacklisting, China's top chip maker. As AM I see, along with more than 60, other Chinese firms, the U. S. Is calling them a threat to national security, and as a result, the government will restrict access to American technology. However, U S lawmakers warn it might have little effect We have more from Bloomberg's Tom Mackenzie critics, including Senator Marco Rubio. Describe the action as quote utterly ineffective. SM, I see has been stockpiling chemicals and raw materials in anticipation off the U. S action. The company could also repurpose much of its older generation equipment to produce more advanced chips. Just how effective the U. S restrictions ultimately are could largely depend on how far President elect Joe Biden decides to take the rules. Industry experts say no one quite knows how the latest sanctions will play out in Beijing. Tom Mackenzie Bloomberg Daybreak Asia
"tom mackenzie" Discussed on Bloomberg Radio New York
"Well, that is a risk on day across the Asia Pacific today for a chicken. What's happening? Let's get to Brian and Hong Kong, right? All for just about everything except technology Stocks in Hong Kong. The Hang Sang tech index is a rare index that's actually down today. It's off about 8/10 of 1% 10. Cent is down. So is Ali Baba. And I get to a few other counters. In a moment. The Hang Seng Index itself is is clearly gaining so cyclicals and some of the non tech companies doing well up 1.2% of the early going. A new case. Rallied all morning very strongly up. 1.8% ea 6 200 up 8 10 7% and the Cosby is up about a half of a percent s. Oh, it's a day where we've seen risk on sentiment here, and a lot of that is what seems to be a smooth transition in the United States on the political side. And then on coping with the virus side. You've got three vaccines it play. Now. Investors seem to be quite supportive of that. Del Technologies reported quarterly revenue that top Wall Street estimates. And rival HP reported that it shipped a record 19 million pieces. I had a look at Lenovo here in the Hong Kong market, and it is training higher, but not by very much. It's up about 6/10. Of 1% in the early going And we also had earnings from shall me earlier and the earnings look pretty solid. There was still some some warnings from some analysts and stocks Trading down Now about 2.6% here in the Hong Kong market, Briefly Dolly in one of 4 58, the dollar is generally flat, too weak. Yield on the 10 year Treasury 89 Basis points dunk over to you All right, Brian. Thank you. So here in the U. S, a record setting session for the equity market with the Dow above 30 grand for the first time Earlier today, President Trump held the last minute briefing at the White House, and he congratulated his team. On the Dow's record day. It's a sacred number. 30,000. Nobody thought that ever see it. That's the ninth time since the beginning of 2020. And it's the 48th time that we've broken records in during the Trump administration. Well, he didn't say much more than that. The remarks overall lasted barely more than a minute, and he took no questions from reporters. He didn't mention the election. The transition or President elect Biden, Paul Hong Kong Chief executive Carrie Lam will deliver her 2020 policy address later today that scheduled at 11 A.m. local time at the Legislative Council about an hour from now. With Big Tom Mackenzie has the preview. Hongkong's chief executive is expected to underscore the importance of controlling a new wave of coronavirus cases in order to get the battered economy back on track. The city reported 80 cases Tuesday, a level not seen since August. Lamb is also expected to announce new initiatives aimed at deepening ties between Hong Kong and mainland China. Reports suggest the stock connect program with mainland exchanges will be expanded on the jobs program to employ Hong Kong. Residents across the border could be unveiled. The city's housing shortage and persistent wealth gap may also feature in Lamb's address. Economists, though, are expecting little in the way of significant additional stimulus in Beijing. Tom Mackenzie Bloomberg Daybreak Asia, So a portion of the rally here in the U. S today may have been tied to a president elect Biden formally beginning the transition he named A team of highly experienced foreign policy veterans at Baxter covering this story who checked Global news.
Trump Bars Investment in Chinese Firms With Military Ties
"Trump signing an executive order in the latest White House bid to put pressure On China. Let's get some details from Bloomberg's Tom Mackenzie. US pension funds and investment firms will be banned from buying or selling shares and 31 Chinese companies designated by the Pentagon as having ties to China's military or intelligence services. U S National Security Adviser Robert O'Brien, saying the moves serves to protect US investors from providing capital that helps the People's Liberation Army. The band goes into a fate on January 11th. It's the latest move by the U. S to confront China on issues ranging from tech and trade. Hong Kong and human rights abuses in Xin Jiang in Beijing. Tom Mackenzie Bloomberg Daybreak Asia.
"tom mackenzie" Discussed on Bloomberg Radio New York
"And in Singapore. It is 6:30 P.m. in New York City, Boston on Washington, D C. I'm Rashaan Salaam and I've dug prisoner at the Bloomberg Interactive broke a studio in New York. We've got trading under way. Now in Sydney ASX 200 right out of the gate. We've only been trading for about a half hour. The index is up 1.2%. We did have some positivity in the US equity market, particularly among energy material and industrial names. Technology kind of lagged a bit. We're going to take a closer look at some of the market action coming up right now, A few of this hour's top business stories for shot Yeah, but global investors are looking to diversify away from the U. S. And into Chinese assets. That's according to Bridgewater Associates found it Ray Dalio, He says global investors are currently overweight US assets. But Dahlia says As China continues to open up its market, global investors will find US debt less desirable. As a result, Dalia says there will be a gradual shift in global currency power dynamics, then the process will accelerate. Dalia, telling Bloomberg to the U. N may quickly become a reserve currency. You're starting to see the development of capital markets in China that are open to foreign investors. You're starting to see you will see the internationalization of the remember You will see opening capital markets, you'll see the development of the financial center. I don't believe the renminbi will be a viable reserve currency quickly, but I do believe it'll happen much faster than anybody expects. Dalio sissies they need to put a significant portion of Bridgewater's portfolio in Chinese answered C points to the need for long term diversification and short term tactical trading purposes. Meantime, in China billionaire Jack Ma, along with top executives of his aunt group, were summoned by regulators. It happened just days before Aunt Is set to debut in a record AIPO. We have more from Bloomberg's Tom Mackenzie from Beijing. Jack Mark, joined and chairman Eric Jing and chief executive Simon who at the meeting with four Chinese regulators, including the central bank and banking watchdog, they were told, and group which spans payments, lending, asset management and insurance would be treated as a financial holding company on be subject to regulation. Similar letter banks The company has been hit with a series of fresh rules in recent months as the authorities here step up scrutiny off its sprawling business aunts. Record Breaking AIPO is set to raise more than $34 billion The listing has sparked a frenzy amongst investors with and shares trading at a 50% premium in the grey market ahead to the Jewell Hong Kong Shanghai trading debut later this week. Meanwhile, the Hong Kong Exchange announced and shares would be eligible for short selling in Beijing. Tom Mackenzie Bloomberg Daybreak Asia Apple's 15 year relationship with Intel will officially begin to unwind next week. That's when the New Mac computers will be revealed after will hold an online event dubbed one more thing. On the 10th of November. The thing will be Max with main processes designed by Apple for the first time, and they'll replace Intel chips which have beena mainstay since 2006. All right, We're coming up on 30 for parents the hour we have in yen trading right now, a little bit of weakness at 104 75. Now, if the Japanese equity market we're trading today in cash, we would probably push higher by a roughly 200 points. That's the suggestion from futures trading in Chicago, but it is a holiday in Japan. So no trading in Japanese equities later today, we do have price action to report in Sydney, a sex 200 pushing up by just about 1.2%. We had higher equity's stateside, some positioning ahead of tomorrow's election. Joe Biden with a strong lead in national polls ahead of the voting tomorrow. We've also had a number. I think it's 97% are checked at 97 Million. That's what I meant to say 97 million ballots have been cast so far in the election. Now, in terms of the US market, we had the doubt today, picking up 1.6% as MP 500. They had 1.2% NASDAQ composite rising about just 4/10 of 1%. Little movement in the bond market today. 10 Year Treasury last quoted at a yield of 84 basis points. We did have a move in crude oil to the upside, actually the biggest move we've seen in about three weeks. This is after producers in Russia met with the country's energy minister to discuss the possibility of extending extending those production cuts. Right now we're trading higher by more than 1% in the Elektronik session at 37. 20 A dollar right now showing chest a little bit of weakness, not by much, and the offshore Chinese yuan stable at six spots 68 85 against the dollar now in terms of the ICO data, South Korea's retail inflation slowed a bit in October after months of acceleration on a month on month basis. South Korean CP in the month of October down 6/10 of 1%. The estimate was looking for no change. I'm Doug prisoner at the Bloomberg Interactive Broker studio in New York was shot. Okay, let's get out of that global news out there as we head over to San Francisco and joined Ed Baxter commanded the Austrian authorities of the moment, calling it a terrorist attack in Vienna's city centre. What more do we know? Yeah, Wish at least one person has been killed, several wounded, although reports are more than 100, rounds fired and several different locations by, of course, multiple gunmen. Several hospitals in Vienna are saying that the those people hurt our muchmore injured Muchmore, but nothing officially Now this is the last day before a month long shutdown for bars and restaurants because of cove. It Federal judge in Texas was thrown out the case to not count the drive by voting in the state. It's seconds to Supreme Court ruling yesterday, so I won't confuse you. They will be voted at this point unless it this appeal at this point to the U. S. Supreme Court. The candidates are out in the last day of campaigning. Donald Trump in North Carolina tomorrow.
China's Xi warned officials that efforts to contain coronavirus outbreak could hurt economy
"Let's get back to our top story in the coronavirus death toll has hit one thousand one hundred fifteen is the latest data from China signals that the outbreak may be easing that said Japan has found thirty nine more cases on board quarantined luxury cruise ship and DBS has this morning evacuated three hundred people from its Singapore office after a worker tested positive for the virus for more let's go live to Beijing weapon bags Tom mackenzie is standing by Tom great to have you with us we heard from xiecheng paying leading a chorus of voices expected expressing optimism about the Chinese economy but one thing that caught my attention was officials in the province of judge John saying that the focus has shifted from all out efforts to prevent and control the outbreak toward containing the epidemic wall insuring the economy's operation is that example in judge John an approach that's going to be taken across the country if China is going to defend its GDP target which would like to hear more which we will hear more about next month increasing I suspect it will be because of course and it speaks to the delicate balancing act now that if the schools we cubicles meet officials under John what school are not trying to ensure that they continue to chill that they've closed the business was operating waffle so short out another quarantine measures in place to keep this arts in check in at the very difficult balance of course to make but what we have seen over the last few days is that she's been in the states now it's all here in Beijing she wore black companies where they aren't properties that are not affected the chronicle DOT approved by getting a spot treat back up and running getting back on the production line and back to their offices but a lot of it is bound to insurance why change replace that majestic companies are able to operate both blocks around of the way in the course of employees can get from Allentown where many instead off to that country's go back that workplaces they are the next few weeks how can it be and what it does raise the risk of infections picking up and points to the right of inspections on the important point is that those additional cases to continue Kerr for not let people go in comfort from the navy we're getting to the point where this box is starting to take the country attention potentially but obviously being closely watched what is there in terms of progress when it comes to developing a vaccine what would work for a Chinese company to Beijing will quite Gee I should say now they responded by taking a drug that you develop like yeah on an American company and they started to match the cues and it is an experimental drug and have been licensed to have to be approved in China and bank anywhere else around the world but it's part of China that that's the kind of accelerate the moves to try and find a back in some form of treatment I mean the one side the most of him that Johnson Johnson and U. S. character like the network all the tent to develop a banking as well hand in hand with the US government and she shared some calls around the house okay yeah all Rick celebrating but as we talked about previously it's a long way off having a licensed and regulated by the filter and John are back let's try anything in that search yes I'm so from xi Jinping of course what we heard was about the outlook all the economy and and expressing the optimism around that told but also he's previously talked about his concerns around social stability if the outbreak gets any worse is that still a concern even as local governments annexing a web of rules restricting movement there's always the number one concern our number one priority for the Communist Party is social stability it was interesting that president xi Jinping at your party points out with quite Frank about that that the spread of the disease stocks where social stability not with a clear message from local officials on the ground who happened to battle with a few cents the quarantine measures but also in short the people are able to get back to work and get it speak to this balance because the people working there will be no calling salary that cost of living goes up and net disposal they can go down to this pressure of coastal this is a balancing act that is clearly in focus for officials say whether they can strike a course or something we should pull thanks to mackenzie thank you so much for joining us live from Beijing this morning all
China Begins Testing an Antiviral Drug in Coronavirus Patients
"The bank let's get no to the corona virus outbreak China says the death toll has reached at least six hundred thirty six or forty one more cases have been found on the quarantine cruise ship in Japan that comes as Beijing is ramping up its efforts to contain the spread by increasing health screenings of residents in Wuhan for more we go live to Beijing where Bloomberg's Tom mackenzie is standing by so time how how much is China ramping up these efforts to contain the virus and when are we gonna start seeing the number of people infected it's now I think over thirty one thousand I'm gonna start to fall each day rather than continue to rise well that that is the crucial question of course and and very few people have have an exact on the flat they have estimate because you got the likes of Neil Ferguson from imperial college London he says daily inspections could not should be around fifty thousand every single day he doesn't think it's going to peak in just move on into at least margin in the rest of China may be until April or later on in the year he's an expert on these issues but even he can say that something of an estimate into the wall officials they were doing the chronicles of the multi pronged approach you got the corn seeds in areas like the province of Kobe forcible majors in cities like hung Jo which is hard Ali Baba the major economist John that way families now restricted from leaving their apartment twenty one member of the family that every two days buy groceries for example an intention which is just an hour south of Beijing why am now they've imposed similar measures again restricting people's ability to lead their own apartments whether or not lawyers measures will stop being posed in Beijing is another question that will be a major step then of course you got the testing so that ramping up the testing of the lab now a new hand testing to have the ability test ten thousand people a day and of course at the U. S. to send out testing kit as well to about four hundred didn't last minute course medics they were still working on trying to come up with some kind of faxing older of course the WHO's list a long way from that they are testing Chinese doctors a mixture of drugs and played a has been some progress according to state media but the green roll call into the number the coast continues under very few people expect that to radically grow up in the next few days or even weeks so we got all but six hundred and thirty death now thirty one thousand confirmed inspections and it's you said that ship off the coast of Japan now sixty one confirmed cases that many elderly passengers on my cruise ship of course you do have a Chinese doctors in this one Chinese doctor in particular he's been reported on points aloft and that is somebody who raise raise flags about the possibility of this becoming more serious some weeks ago Tom we've seen him die as one of the one of the the many hundreds even outside from the set from this
China plans stronger protections for intellectual property rights
"Well the other big story of course is tried and of course the promising signs that we have on intellectual property tryna agreeing to stiffen penalties on those who violate intellectual property rights Bloomberg's it Tom mackenzie's got the details from Beijing they gonna lower the threshold in terms of potential punishments for intellectual property they're also looking at may be making it easier for victims of intellectual property test to claim compensation I'm a broadly that saying that by twenty twenty two they want to ensure that the numbers of cases of intellectual property theft of full and very
Senate Passes Bill to Support Hong Kong Protesters, Putting Pressure on Trump
"Moving on to trade in China has warned of retaliation off to the U. S. Senate unanimously passed a bill aimed at supporting protesters in Hong Kong it frightens to cost a shadow over trade negotiations as the two sides trying to hammer out a partial trade deal thanks Tom mackenzie reports from Beijing China threatened unspecified countermeasures and more on the U. S. to stop meddling in Hong Kong affairs following the Senate vote the bill if passed into law would require the state department to certify annually whether Hong Kong remain sufficiently autonomous from Beijing to justify special trade privileges it comes as officials negotiate the final stages of a potential initial trade pact the two sides are discussing linking the signs of tariff roll backs to the terms hammered out in a document that almost resulted in a deal back in may duties under discussion include those imposed on two hundred fifty billion dollars of Chinese goods last year trump and she still haven't agreed on a new date for signing venue for any phase one agreement in Beijing on Tom mackenzie for Bloomberg daybreak
"tom mackenzie" Discussed on Bloomberg Radio New York
"We're talking about before Saudi Arabia's central bank will also relax lending limits to boost man for the I. P. from local investors on the trade front talks between the US and China continue to move along according to Beijing top negotiator spoke again this weekend in here with more as Bloomberg's Tom mackenzie China's vice premier Liu who spoke with treasury secretary Stephen merchant and trade representative Robert light highs on Saturday morning they apparently had a constructive discussions on each side's core concerns regarding the phase one deal it follows moves to dial down trade tensions with China removing curbs on U. S. poultry imports and the U. S. reportedly set to again extend the license to allow companies to supply qual way in Beijing on Tom mackenzie Bloomberg daybreak hi Tom thanks now the latest on brags that conservative candidates are pledging to vote for Boris Johnsons brags that deal if the prime minister wins next month's election that has the pound to strengthening this morning right now trading at one twenty nine sixty four against the dollar and in the in a front H. P. is rejecting an unsolicited takeover bid from Xerox HP says the offer still low but still leaves the door open for a possible deal as in the futures are higher this morning up about six points Dow futures of sixty nine and as a futures up twenty three ten year treasury down three thirty seconds yields one point eight four percent straight ahead the latest world and national news this is Bloomberg alright thanks Karen it's five thirty three on Wall Street and Michael bar has more on what's going on around the world Michael thank you very much David it will be a busy.
Asia relieved at latest trade truce, China data disappoints
"Chinese exports and imports shrank more than expected in September exports falling three point two percent in dollar terms from a year earlier imports declining eight point five percent it leaves a trade surplus of thirty nine point six five billion dollars economists had been forecasting that exports would drop two point eight percent that imports would be down by six percent the weak exports add pressure to the slowing economy even with this disappointing trade data markets in Asia are buoyant some of that is being attributed to the US and China calling a truce in their trade war the two sides have not signed a deal yet but one is expected next month even so Bloomberg Tom mackenzie reports there's a lot of ambiguity to this deal I think a lot of people looking at this partial Dale will question how much substance Israeli that China is committed to buy more agriculture purchases that is not saying that China has not offered in the past it is low hanging fruit for the Chinese it is actually something many to do anyway to increase imports of agricultural goods for their own needs in terms of intellectual property and the currency regime we don't have the details it seems rather
White House Weighs Blocking Chinese Companies From U.S. Exchanges
"All right so the next round of high level trade talks between the US and China begin next month now China's ministry of commerce says that vice premier Leo it will be in Washington after October seventh so in the run up to these conversations the focus has become capital flow into China it was last Friday when we reported the trump administration is considering restrictions on fund flows to China we were also told the trump administration is considering de listing Chinese companies from U. S. stock exchanges however the treasury said it has no current plan to block these listings here's Bloomberg Sean don this is an ongoing. discussion in the administration this is this is not one that has. dude or or decided what to do this is the restoration continues to look at many options on what he can do to caress the issue of financial flows between the US and China that some people in the administration really see as a threat to the US economy and they would even argue national security. Doug got what we did speak earlier with the envy K. D. as Alvarez's achieve risk of his that he re technologies here and the key to all those that it's kind of don't really has the potential to upset the apple cart. en route to constrain Kapitel flows to and from China will run into the political and economic establishment even more so than the terrorists. and that we will be talking with the hands Stevenson Yang of J. capital research about this coming up but I would also be asking him about the seventieth anniversary of the founding of the P. R. C. of the people's Republic of China so that's going to take us to Beijing and Bloomberg's Tom mackenzie who can fill us in on what the conversation in the Chinese capital is like these days Chinese government is promising to take more steps to promote high quality to weigh financial opening and also encourage foreign financial institutions and funds to invest in the domestic financial markets that's the word from a summary of the eighth meeting of the financial stability and development committee John has been accelerating efforts to open its financial system for the past two years the state councils of financial stability and development committee is a cabinet level bodies sets up in July twenty seventeen it aims to improve coordination of financial sectors supervision the committee is chaired by vice preemie at Leo who a Thomas Kenzie Bloomberg daybreak Asia.
US, China exchange goodwill gesture ahead of trade talks
"John. we begin with the U. S. and China taking steps to ease trade tensions of the U. S. sign president trump will postpone the extra five percent tariffs on Chinese goods by two weeks pushing them from October first to the fifteenth let's get details for Bloomberg's Tom mackenzie Friday would be surprising if the Chinese delegation had agreed to go over to Washington to continue these talks if October the first of those times had kicked in so it's not a major surprise that these are being pushed back and now we can see the window for these meetings because we don't yet have a fixed date is gonna be before October the fifteenth when of course trump says of those additional tires will be put in
Asia stocks make cautious gains as weak data boosts stimulus
"Again stocks are seen gains on the first day of the week as traders weigh further stimulus in China after week data Chinese exports decreased one percent in August from a year earlier economists had expected some front loading of cargo is to the United States had of higher tariffs on September first instead it was a sixteen percent contraction China's central bank will cut the amount of cash that banks need to hold as reserves one week from today the fifty basis point cut will bring the rate the lowest level since two thousand seven Bloomberg's Tom mackenzie in Beijing says that might not be sufficient the approach of a taken so far in terms of fiscal support also some easing around the edges for monetary policy isn't doing enough yet support the economy and ensure that it can grow the pace that policy makers a needed to in order to reach their
Trump’s 15% tariffs on $110 billion in Chinese goods take effect
"Stories now trump administration slaps tariffs on roughly a hundred and ten billion dollars of Chinese imports on Sunday marking the latest escalation in a trade war this inflicting damage across the world economy Bloomberg China correspondent Tom mackenzie reports from Beijing trump's latest trade escalation sees fifteen percent tariff slapped on Chinese goods ranging from shoes to tech gadgets like the apple watch towers on another hundred sixty billion of Chinese goods are expected to kick in on December fifteenth China retaliated targeting seventy five billion of US imports including beef soy beans and oil U. S. waters will be hated December Beijing says it will resist what state media have described as quote trade war mongering by the US China's State Council or cabinet says economic risks all manageable trump says the two sides still plan to meet later this month to continue
Trump attempts to flatter Xi into renewed trade talks
"President trump says he expects to call his Chinese counterpart she gin paying is soon to discuss trade it comes after Beijing confirmed it would retaliate over trump's latest ten percent tariffs Bloomberg China correspondent Tom mackenzie reports from the Chinese capital China says it's being forced to hit back off the Washington the NC with additional tariffs on three hundred billion dollars of Chinese goods planned for September and December Beijing says the U. S. action violates an agreement reached by president xi and trump at the D. twenty in Osaka we're still waiting for details on exactly how China will retaliate planned US soybean purchases have already been scrapped and officials of allow the you want to depreciate trade talks Austin expected to resume in Washington next month in Beijing Tom mackenzie Bloomberg
"tom mackenzie" Discussed on Bloomberg Radio New York
"It's five thirty on wallstreet good morning I'm John Tucker I'm Nathan Hager we are about four hours away from the opening of U. S. trading let's get you up to date on the news you need to know at this hour the trade war remains in a focus as president trump pours cold water on talks and Chinese authorities hold back from major stimulus for the time being Bloomberg's Tom mackenzie reports from Beijing trump added more uncertainty to trade talks saying September's gentle negotiations could be scrapped and in a weekend tweet the US president claim China quote wants to make a deal so badly because companies are leaving the country to avoid US tariffs here in China X. central bank officials have called for the government to prepare for a long drawn out trade standoff with the U. S. in Beijing Tom mackenzie Bloomberg daybreak Tom Hanks the trade war has Goldman Sachs raising concerns of a U. S. recession golden says it no longer expects a trade deal before the twenty twenty election and is lowering its fourth quarter growth forecast by two tenths of a percent Argentina's eurobonds are tumbling after president Mauricio Mochrie lost a key primary vote in a land slide that has investors worried Argentina could return to policies that include currency and capital controls as opposed to mock grease more market friendly positions Saudi Aramco is reporting first half results for the first time the state owned oil company posted a twelve percent decline in profit is crude prices fell and costs increase we get more from Bloomberg Stewart Wallace the earnings numbers are improving the cement the company is the world's most profitable by some measure we move on from this pretty quickly because I'll from a league and this is a company whose production levels of set by a pack policy and whose royalty and tax of the set by the government so it's not your typical big oil Saudi Aramco is also continuing its push into Asian oil refinery announcing an agreement to buy a twenty percent stake in reliance industries that's a deal valued at seventy five billion dollars and we could get official word soon on a merger between CBS and Viacom sources tell us the boards of both companies worked late into the night to hash out a price for that deal as a B. futures down eleven points Dow futures down a hundred nasdaq futures down twenty four the dachshund Germany up two tenths percent while the CAC in Paris is down to ten percent the.
China says will respond if U.S. escalates trade tension
"When it comes to the trade war, Beijing's next move could target US services. That's according to who she Jin whose editor of the global times, when of China's most combative state run newspapers, who spoke exclusively to Bloomberg through an interpreter late with the humble, China may target, the US services sector operating here trade in services is not the same as the trading goods. The US has barely talked about services, but China knows this is a fast growing area for the American side who has developed a reputation for forecasting moves from that. Chinese government using his Twitter feed to accurately predict policy from Beijing, Bloomberg's Tom MacKenzie explains. The FedEx investigation was something that he foresaw with one tweet. That's just one example. He also wrote it sweet about the blacklisting of foreign companies by Chinese officials say before anyone else had heard anything about this. These also tweeted on things like China, cutting back on agricultural purchases from the US and cutting back on Boeing Boeing would as those haven't come to fruition. But nonetheless, that's we managed to move buying. So quite significantly shares a Boeing fell five percent following that tweet on may
"tom mackenzie" Discussed on Bloomberg Radio New York
"Super to owned by Saudi Crown prince Mohammad bin Salman, the five hundred year old painting fits four hundred and fifty million dollars at Christie's in tape a two thousand seventeen global these. Twenty four hours a day on Aaron take took on Twitter, powered by more than twenty seven hundred journalists and unlistenable the one hundred twenty countries. I'm Dan Garin. This is Bloomberg. Caroline, thank you so much now investors looking for insights into what China is planning in the trade will my too well to pay attention to the global times, editor in chief, who she's it has used his Twitter feed to accurately, full cost several government moves, including the investigation into FedEx and the official warning about travel to the US. Speaking to Bloomberg's Tom MacKenzie Hugh explained, what kind of access he has with Beijing, and what China might do next would adult. He should I have access to some accurate information for the nature of my job. But I can't say that I'm authorized by government to release the information it's fair to say that officials will be passing, you information that we possibly tips in the knowledge that you all very likely to tweet about them shows. A lot. Patine cool to be honest. I don't know the, the officials and I have a tested understanding as I have access to those information, I think some of them, no publicize information. Chinese officials have being talking up the economy, but the data the economic data shows pretty clearly that we're facing a continuing slowdown in the Chinese economy. So our officials exaggerating the potential for China to weather, the trade storm jiffy on the. The loss is bearable for China people believe that it doesn't matter to have some losses. Chinese economy is still growing. We don't have any negative growth clear still advancing. In addition, the size of our growth is still remarkable in the world. If Trump goes ahead with additional tariffs on all of China's exports to the US levers tools. Do you think policymakers here, most likely to reach for in terms of retaliation may what they hear full, Molly did China may target the US services sector operating here? I'm going to trade in services is not the same as the trading goods. The US has barely talked about services, China knows this is fast growing area for the American side. So that was the global times editor in chief, who she Jide famo- away place to be joined by being makes China. Correspondent Tom MacKenzie. Tom, another great interview with someone that obviously key players will want to wash given given his tweets. How do you think this newspaper? Actually became so important in terms of being a source of investors when it's really interesting, he started tweeting in twenty fourteen but it's really only in the last six months, who she is developed such a big following particularly amongst investors and analysts and traders. He has about fifty thousand Twitter followers the last time I looked, and it really came about following a number of pretty prescient tweets as you say along the lines of the federal or the FedEx investigation, which was something that he foresaw with one tweet. That's just one example. He also did a tweet wrote a tweet about the blacklisting of foreign companies by Chinese officials have before anyone else had heard anything about this, and before it was officially announced. He's also tweeted on things like China, cutting back on Attica coach will products agriculture purchases from the US and cutting back on Boeing is now that Boeing does those haven't come to fruition, but nonetheless that tweet managed to move Boeing quite significantly. So he has become a. A focal point for many investors trying to get some clarity on the policy stance of China. He seems something as, as something of a policy. Oracle here on one investor told us he's he's essentially the Chinese communist party's equivalent of Trump when it comes to his Twitter feed. In terms of China's options for retaliation. Did he give a sense of what there's more to come? He did. He said that the struggle that officials were facing. Hey, was needing and feeling that they needed to strike back, whilst also wanting to be clear that China remains open for business that the reform and opening agenda here is continuing. They certainly don't want to send the message to other phone businesses beyond the US closing that Dole's. But at the same time, they do want to strike back when the US puts tiresome place. So what he said, was one that they could hit next is the US services sector in the US, and she has a surplus in terms of the services that sells into China, I asked him, of course, about companies like Cal Coleman apple that have caused derive a significant chunk of revenues from the Chinese market. And he says, look, they shouldn't be sitting comfortably and they would be expected to be given the tension between the two sides, equally said he personally doesn't think that apple should be talked at least at this stage. So there was some nuance that from who she Jen. But as I say he is someone who. And this was part of our attempt by talking to him is to find out exactly how fficials treated him and it's classic China example where it's a bit of a grey area. The Chinese officials overseeing no his power when it comes to social media account, but there has been no official top down approach to him. But certainly, he's someone that people are watching very closely. China. Correspondent Tom MacKenzie. Thank you so much for joining us with that very interesting interview, if you want to full, of course, that he sees in on the school GT.
China's retail sales growth falls to 16-year low as trade war risks rise
"China's economy loss team in April after a rebound emerge even before president. Donald Trump's latest tariff increase of to further, DACA. The outlook Tom MacKenzie is putting bags China. Correspondent April data will raise the pressure on China's leaders fixed asset investments slowed industrial production match the lowest pace of expansion since the financial crisis and retail sales growth drop to levels last seen in mid two thousand three policymakers are expected to ramp-up support including for the tax cuts in subsidies to stimulate Langan
Trump says he'll meet with China's Xi amid intensifying trade fight
"Let's talk about the US China trade issue because the United States is reading new tariffs against China. Even as President Trump says that he will meet Xi Jinping next month g twenty meeting. The trade representative's office has released a list of about three hundred billion dollars in put us to be taxed now off to China impose its own retaliatory duties on US goods Trump warns Beijing not to go too far in retaliation. But says that he still optimist about toolbox. They've got back from China. Well, let you know about three or four weeks whether or not it was successful. You never really know. Right. But I have a feeling it's going to be very successful. So for more on this. Let's go live to Beijing weapon begs China. Correspondent Tom MacKenzie is standing by to give us the details on China's retaliatory actions. Yes. So we've been waiting for a few days for the countermeasures that China have promised on last night. Beijing time they came through. So what they going to do is taking the retirement tree times. They already had place in place on sixty billion dollars worth of goods from the previous round, and they just going to raise those levees to between twenty and twenty five percent. And these are products they import from the US, including things like agricultural products, of course, as well as energy, so liquefied natural gas. These are going to kick in from June. The first interestingly, what China didn't do was impose tariffs on US made auto something they suspended back in December often that g twenty meeting between president and President Trump, and they also have yet to cancel a pledge by about seven million tonnes of US soybeans. Well, so they're knock. I mean, those are the probably the hardest hitting measures that could've taken. They're not gonna do that. Are they prepared to put those tears on? If the Trump administration goes ahead and taxes. The rest of the goods that it imports from China. So certainly the view is that they want to take proportional response. So that they can keep these talks going forward with of course, the hope that they can get some kind of resolution in the next few weeks. Even if the odds of that seemed to have changed and the chances seem to a full in in the last few days. So they want to have the key that toolkit that and they have additional measures that they can put in place. So they can do that counsel, for example of US soybean purchases. And of course, they can reimpose those tariffs on US. They haven't done that yet. But certainly the fear was there in the markets yesterday. Looking at the auto stocks listed in the US and particularly country companies like tesla would be very badly hit, of course, other missions. They can take non-tariff barriers so just making life much more difficult for US corporations operating here. And then there was the global times, which is a nationalistic state kind of Bank newspaper tabloid suggesting that maybe being discussed in the holes of power. Hey was a settling down of US treasuries. Now every single analysts that we speak to says that is very very unlikely. Indeed. So they may just be part of the psychological. Operation cyclops between the two countries. Essentially, something we've been looking at whether or not they can devalue the UN a paper newspaper back by the central Bank came out today and said, look, we should not expect significant weakening of the Chinese currency. And in fact, the off show an-and show you is up slightly today. Yeah. I was just looking at that as she CSI three hundred this up three tenths of one percent. Just briefly. How's it playing out in the Chinese markets? So yeah, today's being relatively stable part of that will be down. No doubt to the comments by President Trump saying that he feels that there's going to be a resolution in the next three to four weeks. Of course, many looking ahead to that g twenty meeting between president Xi and President Trump with many hoping that that will lead to some kind of resolution, but really the focus is on what the policy response is going to be. So the C weighing in today to suggest that a radical be value of the currency isn't going to be happening. That's prove something supportive, but we all looking certainly for those additional measures that many economists now expect to see from the central Bank and from the finance ministry, particularly to. Support domestic
"tom mackenzie" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak Asia is eight thirty Monday morning in Hong Kong at ten fifty here in Sydney on eleven and I'm Bryan Curtis. Trading is underway. In many of the key markets in the Asia Pacific still have many to open as well. Lots of. Lean numbers on the screens there. We'll get to details on that coming up shortly and lots of green in our discussion this morning with the green jacket going to Tiger Woods. First major for him in eleven years is so you heard it right here on Bloomberg radio and some interesting sidebar stories to some of the sports books lost big even though tiger was one of the favorites. Fan duel says that Tiger Woods win cost. It two million dollars full of good markets coming up next. But first the top stories Paul President Trump is attacking the fit again he tweeted today that the stock market would be five thousand ten thousand points hot. If it wasn't for the central Bank Trumbull, those quantitative tightening was a killer and the fed should have undertaken quantitative easing. Bloomberg's Margaret talev says the president seems to be increasingly focused on the evils of q t. We have heard as consistently as we have his just kind of ongoing criticism about Jay pal on the fed. I think we'll wait and see what order to be hearing more along those Dame's but twenty testing out and now testing on Twitter today have also says the president may be concerned that his picks for the fed bowl, especially him in kind on not getting the support from the GOP that the prison harped Volkswagen unveiling an electric sports, utility vehicle concept that will challenge tesla model x it features rotating lounge seats covered in so-called, apple skin. That's an artificial leather made in part from apple juice waste. Also, we have word that China's BIC group is planning to roll out at six arc FOX model and those are new energy vehicles set for release in twenty twenty two twenty twenty one including two sports cars whose nonsense come as things ramp up for the big auto show, then Shanghai. Bloomberg's Tom MacKenzie is in Shanghai. He's getting ready. Eighty to cover the event he's reporting that some questions arising about with China's electric vehicle market is a bubble ready to best. Hundred eighty manufacturers registered in China more than triple the number just two years ago. Sales of passenger EV's a full cost to reach a record one point six million units that yet but analyst and industry insiders, including swayed don't shoot sixty general for the China passenger car association say that's not enough to keep all those assembly lines humming. Remember traditional also sales in China already in free full Shanghai. I'm Tom MacKenzie. Bloomberg daybreak Asia. Right in some emanate. News publicist group of France who will pay four point four billion dollars in cash to acquire alliance data systems marketing unit. Epsilon details here from Bloomberg Susanna Palmer, it's the biggest ever takeover for publicists the French advertising group which wants to deepen its digital expertise and expand in the US publicist which owns agencies, including saatchi-and-saatchi and Leo Burnett worldwide is focusing more on data analytics Epsilon runs loyalty programs and Email marketing and collects data, including transactions location and web activity. Susanna Palmer, Bloomberg daybreak Asia. Okay. Let's take a close up look about setting and financial markets says the is trading day of the week gets underway and get it over to Bloomberg's Doug krizner, Paul. We've seen or seeing right now a little bit of a pullback in the ASX two hundred down in Sydney, and so the market there is essentially flat risk on otherwise. Especially in Tokyo, where the Nikkei is up by about one point three percent largely because of a much weaker yen. Then here at one twelve zero four against the dollar the catalyst for some of this risk on was inspired Friday with the Chinese export data. It was above estimates at the same time credit data released after the Chinese markets closed showed. That monetary conditions remain loose footsie China. A fifty futures will begin trading at the top of the hour in Seoul right now. The kospi is a head by about one half of one percent. Long term interest rates. Judging by the yield on the US tenure treasury coming in ever so slightly were to fifty five. Now in the Tokyo session where the dollar is concerned I were gaining a little bit of ground after some weakness in the states on Friday. The Bloomberg dollar spot index now higher by about one tenth of one percent. Offshore Chinese you want essentially flat here at six seven zero three six against the dollar. Crude oil falling right now in the electron accession. Speaking of WTI here at sixty three forty five. I'm Doug krizner at Bloomberg. Interactive brokers studio. Paul to you. Thanks. Doug, Kim Jong UN has made some major military shakeups at the top. It baxter's. Go global news in the Bloomberg nine sixty San Francisco newsroom. Ed. Yeah. Right ball. He's promoted three to full general thirty three others to Major General also given the US until the end of the year to come to some kind of nuclear deal suggested a third Trump's summit Donald Trump says he thinks that's a good idea. US Senator Lindsey Graham on FOX says the US cannot be bullied and thanks Mr. Trump, though is doing a good job for what the president STAN. He's got Kim Jong to the table says he thinks the third time could be the charm UK, Prime Minister Theresa May's coming under fire from members of her own party. And some former members of our government of called on her to end discussions pull out of the EU and resign with that. She continues talks with Labour's Jeremy Corbyn saying it's the best solution and chancellor of the exchequer Philip Hammond on Bloomberg. So we've gone into.
"tom mackenzie" Discussed on Bloomberg Radio New York
"To twenty-six Doug back to you. Well, as you indicated, Brian the official Chinese manufacturing reading was released on Sunday, and it suggests bit of stability after Iran of weakness, we spoke earlier with Bloomberg's Tom MacKenzie in Beijing. He said, you know, even when you look a little deeper these numbers still look pretty solid interestingly when you dig into the data point, and you see the new has a new export orders also increased to the highest level in six months. So again painting a slightly stronger picture when it comes to the. Question of demand. There is of course, still some uncertainty over US China trade now the lack of any deal could be in the future a drag on Chinese economy. Yes. That's a quick look at what is exactly going on because we have to China trying to extend things it got some good news on those talks. Beijing announcing today will continue to suspend retaliatory tariffs on American authors. And US auto parts as well. Details from Bloomberg's Yvonne man this expansion on those retaliatory tariffs was supposed to have ended today. Banal? China's ministry of finance says, it is extending it. The ministry also says it hopes China can continue talking with the us about trade issues and also make efforts to end trae conflicts, China initially, suspended the twenty five percent retaliatory tariffs on US auto and auto parts imports at the start of the year. In Hong Kong. I'm Yvonne man, Bloomberg daybreak Asia and China trade talks are expected to pick up Thursday this time vice premier Leah. We is heading to Washington Shinwa reporting. That negotiators did make some progress last week in Beijing US Treasury Secretary Steven Mnuchin calling those. Talks constructive big day, China's bond market, today's the first day, government and policy banknotes will be included in a key global index. This is the Bloomberg Barclays global aggregate index. Limburg's Tiancheng calls the China bond inclusion and important seal of approval that could have an impact on the country's currency. So CitiGroup says that China will see about one hundred billion to one. Billion dollars of inflows in this year. And that's going to offset the cats also from China, and that's going to support the longer term. I should mention big L P. The parent of Bloomberg radio owns the Bloomberg. Barclays branded bond indices and speaking of the bond market. President Trump applied a little more. Verbal pressure over the weekend to keep interest rates low. Maybe even cut them from here if you can call the tweet verbal the president tweeted yesterday, the fed had not mistakenly raised rates and continued with or had it not mistakenly increased rates and continued with quantitative tightening US economic growth and the equity market would have been higher Christian Lawrence FX and rate strategist at Robbo. Bank tells us US rates can go much lower a rubbing we've actually been calling for five rate cuts in twenty twenty six December. So before we saw the u-turn from Powell I think the ten year probably keeps going lower two to twenty five by the end of this year. But next year we could be talking around about one. Twenty five. I think I'm really think the end of the cycle is now and we're going to see rights moved quite significantly lower. And in terms of oh the rate policy. We also have more discussions on that coming up here on daybreak Asia. North Korea is calling for an international investigation into rate on its embassy in Spain last month. Ed Baxter has is in the Bloomberg nine hundred sixty seven is good news. Yeah. Rish is calling it a grave terrorist attack at an act of extortion that violates international law the event happened. Just ahead of a second Kim Trump's summit and a mysterious group calling for the overthrow the Kim regime has claimed responsibility to the leader of the alleged group is a Yale educated human rights activist turkeys, municipal elections razor, thin margins. Both parties claiming victory and anchor in Istanbul. Bloomberg's semi gone says very clearly though when we look at the overall picture for tacky party has managed to keep its ground. That's president air to one is a major test for president coming into this form of government. The Trump administration has pulled a going to El Salvador. Korogwe Honduras chief of staff, Mick Mulvaney, on CNN says it is serious about the possibility of closing the border. There's a lot of good ways to help solve this problem. Congress could do it. But they're not going to Mexico could help us do it. They need to do a little bit more Honduras. Damore Nicaragua could do more El Salvador could damore, and if we're going to give these countries hundreds of millions of dollars, we would like them to do more. He says it's not a manufactured problem as undocumented people pour through the border with just twelve days now remaining before the schedule. Brexit, Prime Minister Theresa May's conservatives are taking what they call pragmatic steps to prepare for a snap general election. They say not their first option. Facebook CEO, Mark Zuckerberg calling for a new global regulations governing the internet he's urging baseline rules on hateful and violent content. Joe Biden is responding to former Nevada lawmaker who has come forward with allegations of inappropriate business behavior. Lucy Flores on CNN out of nowhere. I feel Joe Biden. Didn't put his hands on my shoulders, get up very close to me from behind lean in smell, my hair. And then plant a slow kiss on the top of my head Biden. In a statement says he hit offered countless of handshakes hugs expressions of affection support and comfort during his years in public life. He says not once never did. I believe I acted inappropriately. If it is suggested I did. So I will listen respectfully, but it was never my intention in San Francisco. I'm Ed Baxter. This is Bloomberg. Okay. Doug. All right. Thanks to our guests for the half hour on managing director. Also, senior economist and head of f- strategy at Royal Bank of Canada joining us from our studios in Singapore. Sue Lynn, pleasure to have you on the program. We were talking about the Australian market how well it did in the first quarter a gain of nine and a half percent. So we're starting the week. Now a little bit to the upside. But this is a week where the federal budget. It is gonna take center stage. What does the market need from this budget to continue to build on these gains? I think what the equity market will be looking for is the signs of fiscal spending and stimulus to really keep the economy kicking along. We do have the budget to be delivered at seven thirty pm all-time cheese day night eighties, effectively a pre-election budget. It will weigh think Mark the unofficial start of the election campaign with the prime minister likely to call an election this weekend. This is very much pre election in nature. So as you can imagine it is likely to contain a number of goodies and sweetness for the electric, and really I think underpin this narrative of some some easing in fiscal settings and these to actively coming through via some fiscal stimulus. So I guess the question is what kind of missions could be in the budget that the market would welcome. It looks like. They will be a range of measures. If you believe the lakes, including. Bit of a cash splash so payments to lower income households to help with high electricity charges small infrastructure spending, and possibly some additional tax cuts all the bringing forward if some tax cuts that's very much. I think the budget that we're looking at on cheese day nine sit in what about the property market paticularly where you are in Sydney how much of a cause of alarm is it it could really the moment. Start to see some series to come out of what's been going on. I know we've seen site site declines taking place, but is it likely to get worse. And if so Scott Morrison spotty talking to really be in favour. That's true. The housing market in a stranger is is really quite wake particularly the focus on house prices. So if we look at the broad national house price index it's been declining for nearly eighteen months now, we're down from a peak to current levels of about seven or eight percent at a national level but much larger drops in the biggest cities of Sydney and Melbourne. We've done quite a lot of work on this. And by our estimates. We're only about halfway through this housing price decline. So we think house prices will continue to ease all the way into at least meet twenty twenty. So it is quite a long and protracted slowdown in house prices that unfolding at the moment, and it's really reflects a raft of factors everything from tidal lending, metrics and conditions. Increasing supply. How? Is.
"tom mackenzie" Discussed on Bloomberg Radio New York
"From Bloomberg television. Here's Tom MacKenzie. The chairman of Astra Zeneca Leif Johansson joining us. Let's focus on China because China has been such a big component for sales for AstraZeneca in the last few years. How is it shaping up the market for twenty nine thousand volumes of sales you targeting for this year? We are we have done very well, and we have had very good growth rates. So in two thousand eighteen we grew by twenty eight percent. And we would we look at when we look ahead, which is a market very interested in in new drugs government, the system that would want them to establish a high quality healthcare, then I think all the criteria therefore good continued growth. So in line with twenty eighteen and increases twenty eight central Illinois. We never give forecast like that on on on the individual country. But I think the criteria the boundary deteriorate what we are doing. It looks very good. Are you concerned about the economic slowdown in China and the impact that may have on your business? If I am in in a broader business sense, certainly, but I think in the case of the former company, basically, we are not impacted very much by economic cycles. Much more impacted by life-science cycles medicinal cycle. And Dan, I think everything looks good. Hear more interviews. Like this one on Bloomberg television, streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings. Global.
US officials to visit China next week for trade talks
"Different schedule. Let's get to trade. President Trump continues to sound optimistic about the trade talks yet. Some US officials had to be concerned China is pushing back at various American demands Tom MacKenzie is Bloomberg's China correspondent China is walking back some of its previous commitments, according to sources Chinese officials had apparently hoped that having revamped their intellectual property regime. The US would agree to lift tariffs as part of any final deal so far. US officials have made no such promise. China has responded. We're told by dialing back previous pledges on areas like pharmaceutical data protection and Payton blinks, but talks continued USTR Robert lighthizer and Treasury Secretary Steve Mnuchin are expected in Beijing next week to continue high-level
China's new economic growth target is lower but still robust
"China is looking at the slowest pace of economic growth in almost three decades. They get the details from Bloomberg's Tom MacKenzie at the National People's Congress gathering in Beijing. China's Premier Li Jiang warned of struggles ahead as announced a GDP target of six to six and a half percent for twenty nine team that is the softest target. The government has ever said itself GDP growth, they also announced a deficit target increasing that to two point. Eight percent from two point six percent that is to allow them to fund and fiscal measures, including three hundred billion dollars worth of constant taxes and fees aimed primarily at the manufacturing sector and at private
"tom mackenzie" Discussed on Bloomberg Radio New York
"Support will be enough. Tom mackenzie. Hope that's not a Freudian slip that we don't get that. We do not end up with the idea because let's face it these markets. Great shot. Great reporting as always Tom wrap up warm. It could be a bumpy ride in China. Fisher NASA eighty is the founder and president at NASA. Eighty associates. He is my guest host good to see you this morning. Good morning. Bloomberg economics team have written a lovely. Lana pragmatic gross target, which is the lowest. They've ever sat on a sensible economic support plan is that would you take away from the so far? I think the first thing to notice is that the tone is much less exuberant and happy than it was last year so much more realistic from the point of view. Let's remember that the overall target for twenty ten twenty ten twenty is to double the size of the economy. That's the overall target for China. And that assumes that on average over the ten year period, you have a growth rate the broad six point two percent. So it's highly likely that over twenty nine thousand nine hundred twenty they'll let chief that. So then doubling of the size of the economy, and this is normal. I mean, let's remember that you're talking about the second biggest economy in the world. So doubling it over a ten-year period is a major achievement. Having said that the big question Mark is of course, whether or not you're going to have a trade deal. Everything seems to be indicating that you're moving towards the deal. I do find the markets a bit over-optimistic and to the thinking that you go to achieve some major historic dealers. Larry cudlow said, I don't think you're going to reach a historic deal. And if you look at the White House on the administration little different voices, speaking, absolutely. And when it comes those voices, Robert lighthizer, it's trashing he talks about he wants regular conversations, and he wants to see for the US to respond proportionately or indeed unilateral action lighthizer trip wires, this is not just a day. And then we're off to the racist. Forever. One thing to note is that lighthizer comes from a time when he was in the Reagan administration. He did Japan trade deal, the Japan trade deal. I might say there's a bit of arrogance in the approach towards the Chinese as though you're going to tell them you have to implement this. And if you don't implement this I'm going to push the tariff lever or other sanctions as I wish and let's get to markets because you said, perhaps I had my last guys I think he might have read Alan Greenspan's book rational exuberance should look at the Chinese market. Eighty seven trillion in market capitalization, it's gone up by one point one trillion in February loan, I love the fast and furious market. There's nobody rocks fast and furious Mark better than myself, but Bassett cannot endure or if the double the size of the economy, should he this is the start of a glorious role higher. You go to things, of course, you've got the trade deal or expectation that the deal will happen. But more important is the increase in the size, and the share of China, and the index quadrupling, I think this is what's really led to that strong rally along with the expectations of a trade deal. So. But let's be fair. If you look at the share will be merging markets in particularly Asia and China it's way below their size in the global economy. So the point I think is that as this happens. The pressure will be on China to open up its internal market. And I think where I'm optimistic is that China during twenty nine hundred twenty twenty will start opening up the domestic market for foreign investment in a bigger way. And but tell me this, which is there is a natural spillover effect is a fr- from what we've been discussing in terms of Asia Asia. Into the into the AUSSIE dollar limited reaction on the OSCE this morning on it might happen. It might not happen, but spillover effect does that change. How you invest it must because the trade deal. If it happens has implications for the supply chain for the Chinese supply chain, so all southeast Asian markets. Dynamically linked to China will benefit from this. Remember that the major impact would have been on those on would have been on Vietnam Thailand and others who are suppliers into the Chinese supply chain. So you're going to see much benefit and expectations of higher growth. Okay. And I say you stay with me. We've got a little bit more to get through. That is not society. My guest host this morning. Some breaking news coming through on. Turkish airlines. We got the full year net income coming through across the Bloomberg nine four point zero five billion lire. The estimate was for four point one to a lot of these airlines of an intense competition with one another so that's the full year net income. On the sales side, sixty two point nine billion a little bit lighter than the market had expected. So we're about one point seven percent below the estimates on the full year net income on the line story. Still ahead on the show..
"tom mackenzie" Discussed on Bloomberg Radio New York
"Morning. From Hong Kong. I'm Bryan Curtis, and I'm Kathleen Hayes and the Bloomberg interactive brokers studio in New York, great to be here with you, Brian. Maybe that's why things are looking positive for Asian trading day. So far. Yeah. It's kind of a mixed day here. I mean, we should give back a little after the torrid gains. We had yesterday. I say should. I mean, that's what's likely in these markets. We have a few markets that are up, but I would have to say that we're bouncing around a little bit to China. Markets are solidly higher now. Three quarters of a percent of the Shanghai composite and about nine tenths of one percent for the CSI three hundred. And that's after a six percent jump yesterday. But the Hong Kong market has been a little bit lower this morning trading down about a quarter of a percent on the Hang Seng index the ASX two hundred down one point one percent. The Nikkei is flat. Here the kospi is down about a tenth of one percent. But it's still early days. So we did see oil holding onto its levels around fifty five dollars a barrel. President Trump came out and blasted OPEC earlier and said that the cartel should relax and take it easy and oil tumbled the most in about four weeks, but she'll training around fifty five thirteen here. Brennan at sixty four. Four and the yield on the ten year treasury down another basis point two point six four percent. That's a snapshot of the markets here in the early going Kathleen over to you. Well, let's take another look at President Trump telling reporters today. Chinese trade negotiators will be returning soon. The president says the two sides are aiming for assigning summit limits. Tom MacKenzie says if you're trying to read the tea leaves here's a couple of things to watch for. But we're waiting for is that official response in the US TR. We know that Trump has said he's going to extend the tariff deadline that official is expected to come at some point later this week that means that we'll get some indication as to just how far down the line. They've extended the stead line on tariffs. And in terms of a meeting between the presidents, you're going to bear in mind as well. The president she has his own politics so deal with here in Beijing. He's got the NBC the National People's Congress that doesn't ramp off until March. So you're probably not looking at a meeting between these two leaders until the end of March. If it does come to that. That's Bloomberg's Tom MacKenzie reporting from Beijing. And President Trump said today that he may use an executive order to stop hallway. The Chinese telecoms giant from selling advanced equipment in the US Treasury Secretary, Steven Mnuchin and other members of the president's team. Have previously advised him not to go after hallway because it could disrupt trade negotiations and meantime, the rush to set at five G networks in the United States is intensifying.
"tom mackenzie" Discussed on Bloomberg Radio New York
"And it's five thirty on Wall Street. Good morning. I'm Nathan Hager. And I'm Karen Moskow. We are just about four hours away from the opening of US trading. Let's get you up to date on the news. You need to know at this hour stocks around the world are gaining as US lawmakers reach a tentative deal to avoid a government shutdown. Bloomberg's Christine Burke has the details. This plan according to congressional aides includes one point three seven five billion dollars for fifty five new miles of border fencing now that's not anywhere close to what Trump wants. But these aids do know that that's doubled the amount of the new miles that were allotted in. Two thousand eighteen fiscal budget. Now, both sides will put together a package at what will be needed before Friday to kind of finalize everything so far it's unclear whether the president will sign the deal optimism on U S, China trade talks is also boosting sentiment. Bloomberg's Tom MacKenzie reports from Beijing, what house adviser Kellyanne Conway told Fox News Trump wants to meet president. She quote, very soon. The comments follow reports. US officials were considering a mid March meeting between the two leaders Trump's mar-a-lago Florida resort. That's fueled. Kucher optimism the two sides are edging closer to a deal as negotiators continued talks here in the Chinese capital in Beijing, Tom MacKenzie, Bloomberg daybreak. All right, Tom. Thank you in the UK, prime minister. Theresa May updates lawmakers on the progress of Brexit talks with the EU she will also outline emotion she intends to put before MP's on Thursday as she seeks to buy more time the Bank of Japan reduced purchases of bonds for the first time in two months. Theo Jay has sought to taper. It's purchases to focus on yield targets rather than quantitative easing on the earnings front. Nissan came up short in its first report since the arrest of former chairman Carlos gone, Nissan, cut its forecast warning of the lowest prophet and six years and the last of the luxury goods makers reported earnings Gucci which is owned by carrying posted sales growth of twenty eight percent. Now, let's get you up to date on how stocks are faring. Check the markets every fifteen minutes throughout the trading day on Bloomberg. And s and p futures are higher up seventeen points. Dow futures up one hundred seventy three NASDAQ futures up fifty five the Dax in Germany's up one point one percent. The CAC in Paris up. One percent Footsie-100 third of.
"tom mackenzie" Discussed on Bloomberg Radio New York
"Out about thank you. Now. There's a bullish moods. It was starting to build in China. Would it be tested this week with the markets? Reopening afternoon in new year, holiday and trade talks are set to resume atop US delegation will visit Beijing for two days of talks starting on Thursday as the clock ticks towards President Trump's March the first tariff deadline. Tony's not from Beijing is Archana correspondent Tom MacKenzie. Tom good to see as ever the characters are arriving lighthizer on the extreme. Right. Some would say if the talks minutia, the voice of reason, some people would say what's the Chinese perspective from Beijing? Yeah. That's an interesting balance. Isn't it certainly the Chinese perspective is they've course, they want to be able to continue these talks the conversation has to continue that is the line from the Chinese. They would much prefer to be around the table with their US counterparts than not. And certainly they want to continue to push this idea that they can buy more goods and close this deficit with the US. And of course, they continued to hold the line to some extent on any structural changes in that will be key to whether or not you get to a point at the end of this week where US negotiators can come away and say, they got commitments around enforcement of any deal and those structural changes will force tax transfer because that will give an opening, and it seems the President Trump to say, okay, these threaten tariffs on March. The first we can hold back on those or we can extend these conversations further we've had of course, reporting out from accidents that may be so needed ministration and looking at a mid March summit between the two presidents. That's still very preliminary. It seems but much of the focus on just what? Winner Jan lighthizer can achieve come the fourteenth and fifteenth here in Beijing. Thomas state media commentary says.
"tom mackenzie" Discussed on Bloomberg Radio New York
"And it's five thirty on Wall Street. Good morning. I'm Nathan Hager. And I'm Karen Moskow. We are just about four hours away from the opening of US trading. Let's get you up to date on the news. You need to know at this hour tensions between the US and China are flaring ahead of this week's trade talks at the prosecutor's filing criminal charges against China's largest technology company while way, Bloomberg's Tom MacKenzie has the latest from Beijing. The US charges against wa are extensive Bank and wire fraud conspiracy to deceive US banks, the theft of intellectual property from t mobile. I'm the offer bonuses to employees. To steal from US rivals. The US also officially requested the extradition of qualify. CFO mung Joe currently on bail in Canada in Beijing. I'm Tom MacKenzie. Bloomberg daybreak. Thank you, Tom and other developing story, we're following this morning PGA. California's biggest power company has filed for chapter eleven bankruptcy. Get the very latest on that from Bloomberg's John Tucker. John here they California's wildfires have of the past saddled utilities with millions of dollars in damages but never had the blazes. Exact it's such a massive financial toll from a company. PG needless to fifty one point seven billion dollars in total depth, seventy one point four billion in assets since November's campfire PG, and he has seen about three fourths of its market value wiped out its stock is down ten percent of the pre market John Tucker, Bloomberg daybreak. Barry, John, thank you. Apple leads more than three dozen companies reporting earnings today, and we'll also get another reading on that ship sector from AMD. Bloomberg's Charlie Pellett has more. The report comes a day after Invidia fell the most in two months after cutting its outlook for fourth quarter revenue. Analysts of Bloomberg intelligence, AMD's outlook remained, solid and near-term product ramps are on schedule, but a misstep would punish the stock. More than Intel last week you recall Intel's revenue and profit projections for the current quarter and the year fell short of analysts average estimates. Charlie Pellett, Bloomberg daybreak. All right, Charlie. Thanks it. In the UK today. Theresa May faces too key votes. One is on an amendment seeking to put Brexit on hold. The other is an attempt to unite May's conservative party behind a plan to rewrite the most toxic part of the divorce deal the Irish backstop, and now let's get you up to date on how stocks are faring. We check the markets every fifteen minutes throughout the trading day on Bloomberg. And right now, I said p futures are little changed trimming their declines, the Dow futures are up six and NASDAQ futures down seven the Dax in Germany is up tenth of a percent ten year treasury up one thirty. Second yell two point seven four percent yield on the two year two point five eight percent. Nymex crude oil up one point one percent up sixty cents to fifty to fifty nine a barrel. Straight ahead. We have the latest world and national news. And this is Bloomberg..
"tom mackenzie" Discussed on Bloomberg Radio New York
"Can we expect from that data today? The focus have been that it would reduce from November to December from about one point five trillion Yuan through about one point three trillion four aggregate, total financing, but some of the comments from some of the officials we heard from earlier so jets that maybe we're in for something for surprise because they talked about the total financing new and learns I should say for two thousand eighteen coming up slightly higher than expected. We're going to get this data probably around four pm. Beijing time the expectations had also been the new loans would reduce the mother descend the by about four hundred billion Yuan. This is a question of how much the stimulus that started to be put into play in June of last year from about June of two thousand eighteen how much that stimulus has been passed on by the banking sector to the real economy. And there are some concerns from some of the banking analysts that maybe that hasn't happened yet the banks remaining relatively conservative. But again, we're going to get a clearer guidance on that with this total aggregate financing data out later this afternoon. Tom. Thank you very much. For those insights are China. Correspondent Tom MacKenzie from Beijing. Let's not the conversation. Bring back Mohammed up. If I he's innovation strategy at CitiGroup. Global markets Asia. Let's jump straight into the Bloomberg for additional perspective on what's happening with this aggregate financing and China a story of a rebound, and that could signal a stabilization of the economy, but the stimulus hasn't been sufficient really to revive credit growth strategies or critical with on a whole. That's what analysts have been saying they are forecasting. A fall is the government doing enough to revive growth. Muhammad. At the moment is that. No, they're not. I think what it is. Is that there's a disinflationary pulse? That he's spreading across the global economy is being reflected in the bond markets as well. So for example, if you look at US bond yields of rallied US bones have rallied Chinese bonds have rallied JD bees and Boone's as well. So in the midst of this sort of disinflation that is across the world and the policies from the Chinese have been very half-hearted, very. Taking taking a long time. And in the background. You still have the uncertainty that is happening as a result of the trade war. And as a result of that. What consumers are doing is actually moving down the value chain in terms of their purchases. So luxury goods are not being bought as much and people are really moving to some of the more staple.