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Bloomberg
Oct 12, 2015 7:00am EDT
. >> this guy knew enron was coming. he has warned us all about china. matt miller, you have something for us? >> the nobel committee is out with the nobel prize in economics and goes to a professor, angus deaton. it looks like consumer demand consumption is the reason the committee awarded him the nobel prize. these headlines are coming across just now. very interesting stuff. consumer consumption is important. jail guy: sorry, jim, go -- yale guy got it. >> commodity prices have battled glencore. president obama says he is in considering any major changes to his approach in the area -- syria. russia has become a major military player in the conflict. last night, the president characterized vladimir putin's move as a sign of desperation. you think that running our economy into the ground and having to send thin -- troops ,n to prop up your only ally then we have a different definition of leadership. vonnie: he also indicated he believed american forces offer no long-term solution in syria. a washington post reporter has been convicted after a closed trial in syria -- iran. "the washin
Bloomberg
Jan 8, 2016 7:00am EST
battered by a perfect storm. turmoil in china, and overflowing u.s. stockpiles. welcome to "bloomberg ." i am david westin. jon: i am jonathan ferro. stephanie ruhle will be returning. , rolling overzing it seems into the open. s&p futures just up nine points this morning. inopean equities now negative territory after being in positive territory throughout the morning. to break this down through the next 60 minutes, michael holland, of holland and company, will be what's -- will be with us through the program. vonnie quinn has first word news. the government of china controversial circuit breaker that adjust to the market yesterday. state-controlled funds were set to buy stocks. news that we are anotherg this morning, sign of rising tension after north korea's latest nuclear weapons test. south korea has reinforced its defenses along the heavily fortified border. it strengthened positions near loudspeakers broadcasting anti-north korean propaganda, and also south korean pop music. president obama has been rebuffed by congress on gun trying tod is now convince a public that is skep
Bloomberg
Mar 7, 2016 7:00am EST
about to give you a good show. iron ore is up. china is in the news and helping us to kick things off today is jeffery gardner -- jeffrey garten. he has a new book. jeffrey, welcome. we have a lot to cover this morning, but first let's get to first would news with caroline hyde in london. caroline: u.s. vice president joe biden is vowing to "wipe out this evil that is islam a state." he was at united arab emirates, where he spoke to troops. he says the u.s. has carried out 1800 airstrikes against islamic state since october. angela merkel says she hoping for talks to be cut,. angela merkel and other european leaders are holding an emergency summit in brussels today. they want turkey to do more to stop migrants. nancy reagan is being remembered as the first lady who nurtured the political career of her husband, ronald reagan. she died yesterday. the couple met when they were both actors. illegalaigned against drug use and became a advocate of stem cell research. she died at 94. global news 24 hours a day, powered by 2400 journalists in more than 150 news bureaus around the world, i am
Bloomberg
Jan 19, 2016 7:00am EST
world, green around the world. china's economy taps the brakes. new data is weaker than speculated. good morning. ♪ brendan: welcome, i am brendan greeley. david and stephanie are on assignment. >> and i am cory johnson. matt miller has the latest. matt: bank of america and morgan stanley are out with their estimates. the $.32 estimate. morgan stanley beat on that level. 7.7, $4 billion worth of revenue. that is a bit better than what we were looking for. bank of america is out with $.28. that is better than the estimate on the street. revenue was a bit off. billion. what else have we got here? we have a ton of earnings. fiscal came out with year 2016 outlook. they are down 10%. we were looking 5%-10%. they are not given a $10 billion market cap company. johnson and johnson came out with a chop cut announcements. 4%-6% job cuts. inwill cost $2.4 billion pretax charges. so they are coming out with interesting news. shares are up 1%. the want to mention apple. goldman sachs put it on the conviction by list. goldman sachs says the guidance will be weak but the drop in the shares tha
Bloomberg
Jun 6, 2016 7:00am EDT
credit factors affecting the stock market in this environment. jack lew is going to reveal if china has made any progress or the market is more vulnerable to selloffs. that's another bloomberg exclusive. let's check in with our team for in-depth coverage. michael mckee is on janet yellen watch. anna edwards is talking about brings it. amanda kern is with the start of u.s./china talks. janet yellen will be speaking this afternoon. let's get the latest with michael mckee. what you going to be looking for most importantly? mike: since the jobs report, markets have pushed any fed movement packet to december. that's gotten some blowback from fed voters. and bostonnd fed says a rate hike is still on the table. we want to know if she is on the same page and of so for when. she may not be as dovish as a lot of people think. she may take june off the table. she wants to preserve her options for july. she can go back in time to the 1990's when the economy was about as good as you could get and talk about the volatility we saw then. and 1999, you could see the jobs creation went up and down like c
Bloomberg
Jul 12, 2016 7:00am EDT
ruling in the dispute over the south china seas. i went to start off with the stock market record yesterday. danny, s&p 500 futures trading above that closing level, which was 2137. what is driving that higher? are higher this morning after the s&p 500 posted all-time highs yesterday. what kicked out the rally was the jobs made do on friday, which was better than forecast trade that bind the economic outlook without increasing the odds that the federal would move. what that really has propelled are the more economically sensitive sectors. we had financials, industrials, technology leading the gains yesterday, which is reversed with what we have seen this year when we have had safer industries that have led the gains in your today with utilities and telecom, which were the trading. big question is, can stocks keep rally without banks? 30% stock and s&p 500 are below the record high in 2006. dani: you have to keep in mind that we have bond yields at record low. we have sort of a scarcity of fixed income around the world, which has led a lot of refugees pouring into stocks that are n
Bloomberg
Sep 6, 2016 7:00am EDT
regulatory approval, syngenta being snapped by chem china. berlin,aroline hyde in i do not think that story is over yet. jonathan: monsanto probably once a little bit more money and you have the regulatory issues. that is a big question for the corporate world. let's switch to central banks as the ecb meets paul gordon. he joins us now. the ecb decision on thursday, a wide consensus is at some point they are going to extend the qe program until her nose when. i guess they have some problems and they have to widen the pool of available assets. paul: that is the key. most economists see an extension of q8. 0.2%, 1/10 oft the ecb goal. it might not happen on thursday. split, it isly going to happen at some time. if you do extend qe, what do you buy? a lot of bonds are ineligible because of rules. it could be time to send a signal that you are about to do that. jonathan: a question about how did they do that. you could tweak the rules on the deposit rate or the share limits. the politics around the p, talk to me how controversial it would the politics around the capital t, talk to me abou
Bloomberg
Feb 4, 2016 7:00am EST
with the different factors that have investors so concerned. when you look at china, oil, for you, what stands out the most as what could put us in the worst position? simon: for china, the black box. no one really knows what is going on. the policies -- very limited conversations from the policymakers there about what they are trying to achieve. andmanaging the economy, then you put on top of that the falling oil prices am a as we read this week may now be a sign a weaker growth rather than sign of future, stronger growth, which would be expected with such a decline of your you throw in the geophysical turmoil, and the sense of the central bank -- even though the bank of japan and you see the are looking to do more stimulus -- that stimulus is less potent that it was was. following,ets are the central bankers will be there for us -- they might be there, but what they are bringing to the party is not as strong as it once was. stephanie: they will not be able to help you. investors that when we were in the mid-$30's, this was it. now we could be in the teens. where do you stand at
Bloomberg
May 16, 2016 7:00am EDT
much. david: let's go to robin. there was more disappointing information coming out of china. please walk us to the data. the date if it came out over the weekend, there were slumps and industrial production. this reflects the dilemma that chinese policymakers are facing. try to control growth or affect it? --ry time david: we lost robin. thank you for joining us. now we need to go to vonnie quinn. vonnie: they will work together to detect missiles from north korea. they conducted a fourth nuclear test. the bombings and russell martin turning point that had not been a terror attack in a western nation for a decade. terrorists had been trying. onres of attempts of attacks airlines, roads, and bus lines in the united states and western europe. police work and occasional ineptitude prevented it more deaths. donald trump says if he is elected president he is unlikely to have good relationship with david cameron. s proposalsled trump' divisive, stupid, and wrong. i am vonnie quinn. jonathan: coming up, desperate for income and a yield starved world, investors are's peaking that also. is t
Bloomberg
Feb 8, 2016 7:00am EST
the yi eld. down and takeive allegra's morning as the china demand was down .8 of 1% in the month. i do not have this loaded up right now. i do want to show you a couple of stocks that we are watching today that are getting hit hard premarket. down after a concern to almost one million vehicles that when you put the vehicle in park, it is not really in park and it rolls away. i think it has caused 121 accidents. citroen says it is the worst business plan that they have seen. they want to apologize to all the companies, giving negative reports in the last five years because they think wayfarer is worse, going down. and then cognizant came out with earnings that disappointed the market. they do i.t. tech support for all the big banks. stephanie: it was not just citroen. they have had a tough since they have gone public. even broader than that, it is not as though the market cannot find equity support. last week when oil was up and dollar was down, that was the argument, that you would see some sort of rebound, and you are not. you're seeing, in terms of investors, in terms of fast mone
Bloomberg
Oct 13, 2015 7:00am EDT
get to the news first. here's vonnie quinn. vonnie: thank you so much. in china, imports in china are on the longest losing streak in six years. it reflects the plunging commodity prices. domestic demand in china has been falling. vladimir putin fires a shot at the fed. the russian president says that fed policy changes may be driving capital outflows from emerging markets. he also said that the p of rush upon second on the crisis has passed. in iran, the parliament has approved the nuclear deal for the west. nearly two thirds of those present voted for it. be sendingncil could the issue back for discussion. the supreme later says the decision is up the parliament. now back to matt miller for a check on the markets again. matt: take a look at futures. we are seeing many contracts down across the board. the nasdaq futures are all down right now. i want to switch for a look at the cash market that are not obviously open for trading in the u.s. yet. but look around the world what happens in europe. europe is trading down across the board. overnight, asia down, read across the board.
Bloomberg
Mar 18, 2016 7:00am EDT
supported it, as well. remember, it is also challenging to get your money out of china at this moment because of the capital controls. stephanie: michael, is it as though ubs is running a victory lap? or are they happy to have a negative headline today? [laughter] michael: i think not having a negative headline is a win for the european banks right now. double-digitsnto on the roe in 2016, which is fairly rare for any large bank globally. it is all relative. they used to be above 20%. certainly, they like these small wins. david w.: i'm just looking at the line chart on the ubs stock, the equity, right now. it is down off the peak of july, but if you go over the last year, it is not a healthy margin. why should i object to this? just on an absolute basis, but relative to credit suisse and some of their closest peers, they have outperformed over the last couple years. people have gotten behind the moves they've made in terms of shifting the balance of business. they have definitely outperformed, but if you go back five years, they are certainly down from where they used to be. they hav
Bloomberg
May 31, 2016 7:00am EDT
growing sentiment that the msci will include china and its emerging market estimates. friday's jobs report is seen as key as why the fed will raise rates in june. michael mckee, what are we going to be looking for on friday? fedael: the key to the might break off in the lock. if you are not on your company's payroll on the 12th of the month, you are not counted. 31,500 verizon employees were off the payrolls during the month of may. take a look at a chart i brought along that shows the number of strikers. we have not seen this many since 2011 in august when verizon was on strike. look at what happened to job creation that month, 117,000 jobs created in july, zero that august. we could have the same sort of jazz performance and it could also hit hours worked an average hourly earnings. hike and she wants to given the comments she made last week, what do we think they are really going to be looking for underlying? michael: they are focused on prices and wages. they do want to see wages go higher and they will adjust for the number on friday but they will be looking at today's number on pce p
Bloomberg
Nov 9, 2015 7:00am EST
: thanks very much, matt. it is a big week for economic data coming out of china. we started yesterday showing that exports dropped for a fourth month. imports are down 19%. we are joined by joyce chang. thank you for being here. we saw exports and imports down. how bad is it and how much does it matter? two-speedna has had a economy for a number of years. manufacturing has been coming down steadily. the trade surplus is at a record level right now. $61 billion. the surpluses are looking better. that has stabilized the currency, but you are going to continue to see the slowing in china going forward. stephanie: how about consumer sentiment? singles day is this week. emily chang is headed out there to sit down with jack ma. if we see a very big singles day , what does that mean about the chinese consumer that so many companies have been excited about? joyce: household income is holding up and that they have been better than the manufacturing numbers that we talked about. i think you will continue to see that china is growing below 7%. we have it coming down to 6.5% next year. you will s
Bloomberg
Feb 19, 2016 7:00am EST
of that asset class. let's stay in asia but go to china. the you want sites biggest gain in almost a year. live for us in hong kong. tell us about this. moreh schwan talked about foreign investment. enda: the central bank governor got to the heart of the issue in china. the government is not ready to fully surrender their grip on the economy. what it is trying to say here is to tell the rest of the world, that is why you will see the government continue to have a role in the markets, continue to have a role in the banking sector, and continue to have a role in industry. from the economy to one that is completely free will take some time. , youou want, -- the yuan mentioned at the start of the story. on the way we are seeing volatility. that is why they are intervening at the same time to try and keep it stable, to try to offset the volatility associated with freeing up currency. do not expect a free overnight -- a free market overnight in china. the government will continue to play a major rule. david: let's talk about what they were doing. there is news coming out of china overnight
Bloomberg
Jan 7, 2016 7:00am EST
overnight with china after the central bank cut the mostreference rate since august which sparked a selloff in commodities and global markets. we go to hong kong with more. huge moves and more in the futures market? yes, what we have seen in the first few days of 2016 is this growing concern about global growth. china's moves are exacerbating this. this emphasizes the idea that chinese officials are worried enough about growth that they are making these dramatic moves. what does that mean for the global economy? we are seeing steep decline spur u.s. futures, steeper than we are accustomed to even on days when we see a sharp selloff. let's talk about china because not only did we have a steep decline but a market that was halted because of that. 300 over the csi past week. the circuitou had breakers activated for the first time in the chinese market. that was the first time they were an ever enabled. you see affect when drop of 7% or more in the market gets halted. i want to zoom in with my terminal. the falling off of a cliff and then the fault is the flatline and that's putting stopped abo
Bloomberg
Feb 9, 2016 7:00am EST
global medical cat -- market cap. it's the year of the monkey, china's market isn't even open. walk us through this. matt: i'm going to give you a couple of earnings for a quickly. we just had five, l, with eps that was in line -- we just had om.e, out -- viac coca-cola's growth beat as well. it beats on the top and bottom line, and gave an outlook of 4% to 5% organic growth in 2016. as opposed what we would see if we adjusted for currencies. now i will delve into the markets that really are going to start to shock you as we go through. it is relatively calm, with features down .4% on the dow and the s&p. amazingly so as we go to the rest of the indexes. in europe, we are managing to keep our heads above water, or rather, we are not able to hold onto gains. occasionally we flip into gains, , butially on the footsie we can hold on those gains. .- the ftse in japan, down over 4.5%. this chart doesn't do justice. we haven't seen a move on the nikkei down since 2013. is been a while since we have been down that low. jgb's, i havethe it up on my bloomberg. hillary has it on her terminal
Bloomberg
Oct 8, 2015 7:00am EDT
coastal areas could last through the weekend. challenged onwere the south china seas. sail insideps will a 12 mile zone that china claims around artificial islands. the move is likely to increase tensions between the u.s. and china. dell is in talks to combine with all or part of a data storage company. it does may not result in a deal and emc has been looking at strategic options to boost its share price and dell faces a slumping market for personal computers. those are your first word headlines. now it's time for morning must read. we have former fed chair ben bernanke he and are joined by tom keene. please, leave the way. bring up the morning must read. the united states with is relatively flexible labor markets will prove more successful to many other countries in accommodating older people want to continue to work in ar chairman, net felts gave an important speech seven years ago at the bank of international settlements and focused on one word, a dynamic society. where is the new new? >> our society is structured to allow that to happen. is example i given the book the energy r
Bloomberg
Mar 8, 2016 7:00am EST
overnight, we did see red arrows, except for in china. take a look at this chart. japanese 40-year yields coming below the u.s. 2 -year. you can make more money loaning to the u.s. government for two thrs then you can loaning to e japanese government for 40 years. stephanie: it is europe that is responding by taking a leg down. that is because the chinese government has purchased equities in the last minutes of the discussion. it looks like they are doing it again today. i'm not sure everyone would argue that china is a free market. take a look at oil. oil had been driving equities. yesterday, it he coupled -- de -coupled. still a relatively high price for wti this year. i want to look at a risk-off trade. you see people piling into gold, piling into bonds. gold is still up. samantha are here with powers, the u.s. ambassador to the united nations. we talk about china just about program. on this we typically talk about it with regard to economics. are they a rival or a partner as you try to deal with things like north korea? korea, we have just come off a remarkably successful negot
Bloomberg
Aug 3, 2016 7:00am EDT
carney's news conference. do not miss it on bloomberg. and david, we have economic data out of china which is a different story. david: we want to turn to our bloomberg reporter in hong kong. we expect services in china chafment cha what have we learned from these new data? >> what we've seen over the past few days, we had some economic data missing estimate, some beating estimates. at the end of the day, what the market is taking away from this s china's two-speed economy is almost on a pretty solid, solid track even on the best of times. it's difficult to predict what's really going to come in. but what investors are seeing the people that i speak to, they're all saying these things haven't declined. both manufacturing and services are hovering around the 50-mark which bodes well for the economy after a sharp turn. david: there's news about a possible changes in restriction on the futures trading. what do we know that is coming down the pike and when? robin: so what we're hearing is there are some restrictions on stock futures allowing people to open 100 new accounts rather than 10
Bloomberg
Feb 29, 2016 7:00am EST
stanley things right on the heels of the g-20. fascinating, isn't it? china follows up with a rate cut, and then euro's on inflation -- euro's inflation comes up. only game in the town remains the only game in town. matt: but when you see china cut the reserve ratio, all this does for the market is signaled that it is thicker than you might think. we like our morning. why? as david mentioned, beth .omstock of ge is here let's get you some first word news with vonnie quinn. cruz's warning tomorrow may be the republican'' last chance to stop donald trump. trump may be all but locking up the nomination tomorrow if he wins big in the tuesday races. he is urging voters to turn to conservative." trump picked up support from jeff sessions from alabama. a u.s. college students helped in north korea has confessed to what officials call a hostile act. he appeared at a news conference in pyongyang, accused of taking down a propaganda sign. all this is happening as the u.s. is threatening sanctions against north korea. after five nominations with no award, leo dicaprio finally wins an academy awar
Bloomberg
Mar 24, 2016 7:00am EDT
equities, down the most in two weeks. shawna -- china, we have heard a lot from the premier and pboc governor. what is the message from authorities in china? >> we have heard a lot from the top folks in the government here. the message is clear and consistent that they can get that 6.5%stay above goal they have set for this year and as part of the five-year plan. theave been hearing that at congress earlier this month and again at this conference of top leaders. the question is, how are they going to do that with the plan unprofitable state-run industries? it is a tough question. heard, from his press conference, that they can do both. they can balance the economyuring to fix the to make it more modern and key people employed and keep growth above their target. : it won't give you a much of a reed in on what is happening with the general economy. >> we have looked at the early indicators for the data from march. some survey-based things of companies and other indexes suggest there is a stabilization, but it is not good levels. we will get our first look at the official data on the fi
Bloomberg
Nov 27, 2015 7:00am EST
glad you're were able to stay up late for us on this friday. our beijing bureau chief in china. today is black friday. an american retailing tradition but less than it used to be. shelly is with me. the walmart is a caucus, new jersey. one of the busiest in the country. you are on the ground. why don't you tell us what the mood is like there after 7:00 in the morning? it certainly looks like one of the business in a country last night. it was everything you would expect a black friday. despite there being more deals online. talk of retailer spreading out black friday. the store was packed. the lines were long. electronics was slammed. i saw the same thing at a target. lines for apple watches. right now it is 7:00 a.m. but people are still flooding into the parking lot. it was quite a 6:00 a.m., but shoppers have come out. we'll see at the end of the weekend if they are the same numbers as last year, but despite the deals online, folks are in the stores. erik: there has been no holiday weekend thus far for you. you spoke to the target ceo yesterday. what did he tell you? he's inspectin
Bloomberg
Jan 20, 2016 7:00am EST
markets seem to be expecting further stimulus from china. . that did not come in. that roiled markets. many contracts and down. ,ow jones futures now down 290 although they were down more than 300. continue to fall further and further. down 3% right now to $27, where our people hiding? thne --cies for one, the yen has had an incredible year to date. a one year high for the yen. you see a red arrow, that means strength because we can afford less of them without u.s. dollars. take a look at yields, and of the place will be see real moves. seekinguying into bonds the relative safety of government debt. at 1.98.s this morning to talk about what we are seeing. i'm sure both of you woke up to a start this morning. michael, what is this all about? michael: it is all about china and oil combined. punch. one-two if you look at asian currencies, the correlations are just getting tighter. a of dynamics are unfolding. oil continues to slide. getting --ning is continues to be each week more extreme than it was the prior week. the spring is coiling for a big relief rally. we are not getting it yet.
Bloomberg
Oct 26, 2015 7:00am EDT
. down 12% right now. >> high drama. china, todayut in they will start with meetings in 370 touch ie than officials are gathering to revise a new five-year plan. joined by oure expert on all things x -- economic. we woke up this morning to discover that the markets did not react too much. there was a big reaction here on friday, that today it did not seem like much of a reaction in beijing. could you please tell us how big a deal this really is as you see it from asia? >> track for their slowest pace of growth in 25 years. it is having a big impact on asia and the world. they are meeting this week to thresh out there next economic plan. lots of observers have been warming back their expectations. get a sense might to just how slow we have been growing. we are looking at a target below seven percent. it is significant for the rest of the world. >> are the markets absorbing this? is china committed to the 7% number? i think there is a sense of the expected at this stage. it is understand -- understood that china's economy is slowing. we are in a. and a senseterm that the currency has r
Bloomberg
Apr 13, 2016 7:00am EDT
moore, thank you for joining us. jpmorgan, a beat. these and numbers out of china as well. that is next. chinese export numbers are out. all signs point to stabilization in the economy there. ♪ david: you are watching "bloomberg ." peabody energy filing for chapter 11 maker to protection. the company joins for other coal companies pursuing bankruptcy amid cheaper natural gas and glut ---- and a hans has agreed to reduce the payouts stemming from his earlier job -- move is to solve -- he wasover promised payment of 11.4 million dollars last year as compensation for leaving the higher paid cfo post. cable workers have walked off the job today, working without a contract since august. the union says they are striking because verizon wants to make layoffs u easier and rely on contract workers. data out of asia today, chinese exports jumped the most in a year. the world's second-biggest economy may be stabilizing. -- theslump in february rebound could be due to seasonal factors as well as the pickup and commodity prices. for more, i want to bring in our in-house expert from hong kong.
Bloomberg
Jan 4, 2016 7:00am EST
on guns. take a look at china, the worst start two-year ever. we will have more throughout the day. you can see the china shanghai complexes down 20%. they shut the market for the rest of the day after the first warning. in europe, i want to highlight the dax. it's down 4.3%. it's continuing to decline. mark barton will join us in a moment to show you the rest of what's going on in europe. look at futures at home. we have the worst days since august and futures. down and thes are dow jones, 312 points. crushed to kick off 2016. we were down for 2015 as well, slightly less than 1%, but a loss for equities in 2015 print it's looking bad for the start of this year. crude oil is -- has been showing some games. there was a yearly loss. down 52%,ck years, the biggest slump ever in two years. we have a new system for bloomberg users. g#btvn type emerging-market stocks are in blue -- are in white any oil is in blue and the correlation is about 05 or .6. this is a look over the last six months. emerging markets are coming down as well. we are going to go around the world with bloomberg repo
Bloomberg
Nov 12, 2015 7:00am EST
a barrel. copper especially low. six year low. getting hammered by the news out of china of just not lending as much, not putting out as many new loans. the economy is slowing down. dr. copper, because it measures the health of the chinese economy. glencore, speaking of commodities dropping below a pound for the first time in a month. sixth straight day down. you can see glencore trading at 94 pence. and we, glencore, we also had rolls-royce also getting crushed in london. down 22% right now. as it says earnings will be hit by about $1 billion. a lot of big problems over at rolls-royce since it brokered partnership. i'm going to bring you some retail earnings. quarterad a third eps, 75 cents. kohl's beating the streets estimates. billionooking at $4.43 in sales, also beating estimates. so kohl's coming out with a beat on the bottom and top line. retailers a hot topic. david: let leads us into our first topic. we do want to talk about retail today. and i know shannon you have talked walmart about their plans for the holidays. let's talk about yesterday. what happened at macy's. ha
Bloomberg
Jun 8, 2016 7:00am EDT
better shipments from germany and better car sales in the same month in china, may hinting that consumers are holding up quite well. when you take it all together, the chinese trade data is not getting worse but is still quite sluggish against the global backdrop of a week demand of china's to -- china's goods. manufacturing remains in the doldrums. the infrastructure side of things, to get the real estate going again, we are not seeing stimulus effects flowing. on import design we continue to see fake invoices coming out of hong kong and that is linked to this story to get capital out of china by a licit flow. now to a developing story, a massive explosion blew the front of a five-story police headquarters in turkey. we go live to istanbul. simin: another day, another terror attack in turkey. a few hours ago a huge blast occurred in turkey's southeast region. we are hearing it occurred in front of a police headquarters and as you said, it ripped the front of a five-story building. three confirmed dead and more than 20 injured. comes one day after a terror attack in istanbul whi
Bloomberg
Aug 29, 2016 7:00am EDT
because the reactions we have seen so far in china and malaysia and india and the rest of asia -- they seem kind of to the fedons comments. japan is slightly more reactive probably because the yen -- the question is, how far can governor kuroda actually go. far can ee's monetary policy? how much stimulus can he provide stimulus-- how much can he provide? alix: the weakness in the yen was about the strengthening of the dollar. , what is the magic number where the fed has to hike in september? there iso not know if any specific number per se, but economists are looking for 180,000, 100,000 less than the last two months. maybe if we get another big number on the order of the last to seeths, we will start the presumption of a hike becoming more likely than not. before we get to friday, we have a ton of economic data. and consumertion spending. we have manufacturing and consumer confidence later in the week. it should be a fun week for economic data watchers. caroline: thank you very much indeed. that was matt boesler from new ganguly from hong kong, and guy johnson from london. ali
Bloomberg
Nov 17, 2015 7:00am EST
hasvy come to represent philippine resistance to china over the disputed south china sea. the white house says the issue is likely to be discussed. you can get more on these and other breaking stories 24 hours a day at bloomberg.com. matt: we are just getting breaking news. walmart earnings are crossing the bloomberg. of $117.4venue billion. wouldat looks like it miss adjusted estimates by a long shot. we were looking for one dollar $1.42. the numbers continue to stream across the ticker. we are seeing $.99. walmart saying fourth-quarter $1.40. let's see what the share reaction is. the pre-market share of about 2.6%. -- up about 2.6%. wall street has estimated lower profit. walmart has a real problem with margins right now. that's what has driven the struck down over the last few weeks -- stock down over the last few weeks. higher wages and foreign exchange issues are hurting its sales over here. just to reiterate, walmart had third quarter profit from .30.inuing operations of $1 x leases $.99. it looks like investors are not unhappy with this report. david: this is early going. wal
Bloomberg
Feb 1, 2016 7:00am EST
because of what we got out of china. manufacturing came in at a three-year low, and the sixth drop in six months. that is having a weight on the global markets, and the shanghai composite is down by 1.8%. the nasdaq is down .7% there. not so much happening with the nikkei. with oil, we are seeing that at session lows down, 1.7%. it is trading above the $33 handle. this will be breaking a four-they winning streak. with gold, we are not seeing what we might expect in terms of a risk-off environment. gold futures are trading by about half a percent, the 11.22 mark. -- the 1122 mark. in treasuries, we might not expect it here in terms of the 10-year yield, bite -- up by .8%. stephanie: we have to focus on one story driving markets. it has to be china. thrilled you are here. walk us through this. more bad news, more bad data out of china at this point. what can the central bank do? enda: it is disappointing and another storage -- and it underscores how difficult it is to get traction in china. the injected hundreds of billions of dollars in terms of physical destiny less -- in terms of
Bloomberg
Jan 6, 2016 7:00am EST
there are three things to pick up the year. you have some softer data in china, and the geopolitical nervousness about the north korean news. finally, some concerns about policy. how much devaluation is china going to engineer? what about the fed? how many hikes for the fed? that leads to choppy markets. david: one of the things on the market is oil. what seems to be remarkable is there is clearly an oversupply. yet every announced that we see is people producing more. i don't know of any of the business for that is true. rich: part of it is with the fracking sector, you have a lot of people producing just to pay off their bank loans. we are starting to see a cutback in u.s. production. i've think the supplier response will be there. but there is a structural imbalance. one big story is a depreciation of the currency in china, the other is brent. but right in the back end, the shift low has been phenomenal. waygovernment 75 all the down to 55. factor that into the fed, can they really get four hikes in th is year? rich: our view is that we will not see four hikes. the fe
Bloomberg
Jun 15, 2016 7:00am EDT
platform is stunning. >> three time's not the charm. china's domestic equity were denied entry for a third time. for more, let's bring in economic correspondent in hong kong, third time. yet chinese stocks are up. what happened? >> good morning. they said it was a historical hat they would get in. one is the credibility gap that china has with investors around the world. those global investors are lukewarm with china. and it showed just how far china has to go before it sbi grates . s economy and the market >> the u.s. loan is much more than expected as we saw the first quarter coming back at the expense of some of those reforms. >> this is a big delay that we're seeing in china right now. of course china needs to rein in. we had a warning that they have to -- the authorities are aware of their problems. the issue is they can't rein in that credit. they want growth to hit 6.5%. the number was a big+++ the government and regulators try to clamp down there. with a big increase in the bank lending and that's keeping the economy taking over and that's the problem for the government, how
Bloomberg
Jan 11, 2016 7:00am EST
$60e went trillion with the declines we saw in china. all of them extending last week's decline, not bouncing back. producer prices were down for the 46th straight month, interpreting to some of the decline. it seems the rest of the world is proving resilient with futures up and european stocks of. crude oil continues to lower. it is something that has been putting pressure on the overall sentiment that has been surrounding it. the south african rand, a very commodity driven economy, 37% of its exports go to china. you see here, this is the dollar versus the rand. many -- many of you saw a flash crash in the rand. it had to do with margin calls from china -- japanese investors and that is something that caused it. to did recover by the end of the day, finishing 1.5% down. jonathan: a monster move in the south african economy. 15% year to date. stephanie: china's stock market has lost $1.3 trillion this year. jonathan: big moves over the last week. we have hardly asserted the year and we are already seeing the light -- likes of june, july, all of them. there is no let up on the n
Bloomberg
Nov 2, 2015 7:00am EST
the china come interesting that week manufacturing data in asia does not drive us down and european markets are rebounding as well. the reason may be because of a couple of deals. eps is missing on the figure, but a $5 billion share back and a $23.5 billion deal to buy back visa europe, which it sold seven years ago -- you can see they missed at $.62. shares are down a little bit. shire also making a deal to buy dyax. ats is a live trade, down 1% 48.67 -- at 4867. dyax will show a gain here. shareholders are happy with this indeed. david: besides being hollow wing, we are starting a new month. in october we had a great month in the equity markets. i guess i have really two questions for our guests i will start with you, joe. why did october happen? will it continue into november and december? stephanie: because it is the 10th month of the year. why was the rally? joe: i do not know why and what is going to happen next. there are two things that happened. one is we got this huge rally starting in the beginning of the month after a weak jobs report. strong rally after weak data, so pe
Bloomberg
Dec 11, 2015 7:00am EST
already was a lot of m&a fervor. you talk about sin genter with cam china -- you talk about sin -- le the overlaps are not as significant as you would think. it seems to me very likely that this will go through. it is a very logical deal, and it will create stronger competitors on the global stage. david: josh, you have spent a fair amount of time in washington. chemicals companies, that is not the way it is looked at. josh: this is partly about the real substance in the individual markets where there is overlap, then the politics behind it. there is no question that the spin will help with the politics, not to have one huge company at the end of the day. alan: normally you do a merger of giants as a condition of agreeing to sell something. in this case they have agreed to create a third company. stephanie: what are the stocks doing? matt: let's not forget that we knew about this deal he couple of days ago. we are getting verification now, but we had the scoop. that is being priced into the shares. dow shares are up 12%. this morning you are going to see less followthrough in the actu
Bloomberg
Jan 26, 2016 7:00am EST
day tasks are hancock what exactly is doing. we're going to take you overseas to china with the shanghai composite plunge. 615% on concert -- 6.5% on concerns that capital could accelerate. --en zone robin ganguly bloomberg's own robin ganguly joins us. it's far more retail focus that we see here in the states. robin: what can i say, stephanie? we are heading into the year of the monkey. ware monkeying around at the beginning. 6.5%,ore serious note, investors are really concerned about stability in the market. their ability to protect policy. you can't to drive overnight 70%,wing costs to 68%, sell on shore banks, restrict their onshore you on business and expect people to have confidence in the free market. that's the main problem. there's a lack of confidence in anything, any chinese assets. david: in the bloomberg news report, it said there was $1 trillionpital -- that flowed out of china. are these new numbers? robin: yes. this is our colleagues at bloomberg intelligence. they have come up with this estimate of $1 trillion, that's about six or seven times the amount of capit
Bloomberg
Oct 29, 2015 7:00am EDT
good day for you. , details emerging from an important meeting in china regarding the future of its economy. we head to asia on "bloomberg ." ♪ stephanie: welcome back -- vonnie: welcome back to "bloomberg ." 6% ins of allergan up 1 premarket trading. pfizer and allergan considering a merger. allergan has a market value of $112 billion. talks are at an early stage. time warner cable posted third-quarter earnings that beat estimates, the company gained residential internet customers. regulators are deciding whether to allow charter communications to buy time warner cable in a $65 billion deal. for pershing square holdings, the publicly traded security of bill ackman's hedge fund. pershing square is down 16% for the year. ackman's bet on valeant hasmaceuticals, valeant plunged over claims of wrongdoing. david: we focus on china as leaders wrap up an important meeting discussing economic targets and policy changes for the next five years. more details have emerged over the last hour or so. tokyourran is in following the story. as we woke up this morning in new york, a couple
Bloomberg
Jan 27, 2016 7:00am EST
sell in beijing today trying to get china to support sanctions on north korea after the nuclear test last month. china has been reluctant to anything that would destabilize the regime. donald trump said he is been treated unfairly by fox news and will not be in the debate. instead, he will be at a fundraiser for veterans. new 24 hours a day covered by more than women hundred 50 news peers around the world. let's check in on market stuff. matt: some breaking news, united technologies is that with some numbers that beat on the bottom line. dollarssed by a billion on sales. $14.3 billion with the quarterly sales figure put out by united technologies. you can see year to date they stand about 11% they make everything from fire extinguishers to helicopters. conditioners,, very diversified conglomerate. but the missing big-time on the sales front. even thoughng down asian markets traded up. third day in a row we break that cycle of correlation. s&p futures down, the dow futures down, nasdaq futures down. one of the computing factors is that oil has come back down. yesterday it turned aroun
Bloomberg
Apr 27, 2016 7:00am EDT
other items and still, japan looks ane it is going to be economy with zero gdp. erik: what about china, then? japan may be benefiting from that. putting theirs foot on the pedal as fast as any economy right now. i have been in china twice so far this year. -- the chineseas leaders have done a better job in trying to reboot its economy than most leaders of the world. of thein the fourth gear 10 year plan. moving the economy away from an export manufacturing economy to a domestic service oriented economy. that takes tens of years and it is not without a many hiccups. there was very bad communication . they re-stabilized. believe what they are doing now is doing very aggressive monetary policy in china right now. the banks are lending at any rate they have not done before. in 2016, china will look well beyond what we thought it would look like in 2016. it may mean the bubble is bigger for 2017 and 2018. the chinese are the host of the g20 in september. they will want to make sure their economy is a beacon of strength, not a beacon of this erik: the bigger the bubble, the bigger the burst.
Bloomberg
Oct 7, 2015 7:00am EDT
by the emerging markets. now you have emerging markets submerging. you have china clearly slowing. china is going through an adjustment. even if they do everything they want to do, which is very much in question, they are going to move from being an investment, capital goods structured economy to being a consumer service driven economy. that will not be good for people selling products to china. china put in place more concrete between 2011 and 2013 then the united states did in the 20th century. potronie: juan martin del larry: -- stephanie: one more time? china put in place more concrete between 2011 and 2013 than the united states did in the 20th-century. that pace is coming down. maybe they will serve each other a lot more restaurant meals. maybe they will move to provide all kinds of urban amenities, that will not do the same thing for the world's copper producers and iron ore producers as what they used to do. stephanie: then let's take all of this data. things were ok-ish, now things are worse in the emerging markets. what does that mean for the fed, for the rate hike that
Bloomberg
Sep 20, 2016 7:00am EDT
optimistic on the outlook for china. we are with their ceo, finding out why he sounds more positive on china. this is bloomberg. ♪ jonathan: from new york city, this is bloomberg. the ceo of the world's second-largest mining company has turned optimistic on track. i sat down with rio tinto ceo john jack sebastian to talk about the pickup in the construction market. here's what he had to say. >> china is very important for us, for the mining industry. it is around 50% of the global demand for minerals. we spent a lot of time in china. i was there two weeks ago. it is sad to say that on the back of the meeting i had with our customers, our partners, our suppliers, as well as government officials, we are becoming much more where we are being described as cautiously optimistic with china. the me give you a few examples. in context of iron or copper, the construction market in china. one of the industries we look at is the inventory of housing in tier one, tier three, and tier four. today, the financial metrics shows that the inventory in tier one -- currently you are below the seven months, wh
Bloomberg
Mar 25, 2016 7:00am EDT
, but it is intended to kind of be china upon version of the world economic forum for asia. he kept on hammering the point that they are seeing stability. the quality of economic growth, according to him, is improving. he emphasized that china has "stableools to ensure economic growth," and he is confident that china can maintain that pace of growth, 6.5%, over the next five years. he says the fiscal deficit is not too high. he also said on the yuan, they will not he value the yuan to boost exports, and all the property market he says we want to avoid major fluctuations in the property market. he is aiming for steady development. nejra: coming up on "bloomberg st," a close-up look at tuesday's terror attacks in brussels. ♪ nejra: welcome back to "bloomberg best." the investigation into tuesday's terror attacks in brussels continues. go to bloomberg.com for the latest details and analysis. checking the impact of the bombings on global markets and gathering insight from experts around the world, let's look back at the best of that coverage. francine: when we first heard about a poss
Bloomberg
Apr 15, 2016 7:00am EDT
close to the ship. jon: more signs of stability in china. today they reported first-quarter gdp was in line with expectations of 6.7%, just one of several economic indicators to be reported throughout the day. curran, who joins us from hong kong. good evening. thank you for joining the program late in your friday. looking at the data, is the stability move nothing to see do we have to take a deeper look? enda: we do have to take a deeper look, but adding to the narrative is that growth is stabilizing. markets,y, china's was confused policy affecting markets around the world. since then we have seen signs of manufacturing stabilizing, better signs on inflation, exports, and real estate. taken together, we have gdp comfortably within the government's growth target. and there is the sense that china is stabilizing, but at what cost, and how are they doing this? david: retail sales you did not mention, which is up over 10%. between that shift go retail and services? enda: when you consider what is happening in china over the last quarter -- the weakening along the capital outflow, the over
Bloomberg
Jun 21, 2016 7:00am EDT
? that is the real backdrop, how will aggregate demand to be in europe, in china, across the pacific? jonathan: pulling away from the brexit debate, we've seen an obsession with the near-term risk. when he of -- one of many risks. when everything seemed to be falling off the cliff, we weren't talking about brexit, we were talking about china and the fed. dovetail this into what we will see from janet yellen mario draghi this morning. has two verbal what she did last week, which was amazing to see the market reaction. i did not expect it, nor did many others. there are other things going on besides the focus on remain and leave. you have to figure out how to weight them it. jonathan: you can catch tom keene on bloomberg radio with michael mckee. tom keene getting paid at sterling now. tom: i like that. jonathan: we witnessed a fundamental shift in markets. global equities rallying ahead of this week's referendum. joining me now to discuss it is mark boleat. he is in the remain camp, he says thousands of jobs could be lost if the u.k. leaves the european union. let's begin with the ide
Bloomberg
Feb 16, 2016 7:00am EST
arabia and russia were fighting for market shares in eastern europe and in china and they were fighting a proxy war in syria. russianse saudi's and got together and have a preliminary agreement. that doesn't resolve the oversupply but it will help. of opec and russia saying we will let the markets decide the price and we will not do anything about it, now, opec countries have decided to act. >> it is easy to freeze production when you are at peak production levels. it doesn't selma get big deal at all. production was going to increase in the next few months. produced 10.6y million barrels and now they are producing 10.2 million barrels so that does not mean we are going to see a saudi increase. it will trend up in the next pew months. but now that. . take today's agreement as the final agreement. just take it as what the oil minister said. it is the beginning of a process. and ideally, it is a good announcement. david: if you are putting together a cartel, do they have enough people in? what about iran or iraq or the united states? javier: that is the biggest point. iran is trying to ra
Bloomberg
Jan 28, 2016 7:00am EST
: remember the evian flu. it was a real issue for china. josh: they could be serious. david: economics minister of japan had to resign overnight. he was spearheading abenomics. he was caught up in a scandal about political contributions. he had to quit, in tears. josh: there is a tight linkage about political financing. you see it in japan, france. things that get politicians in trouble are contributions to their parties and political campaigns. david: it is not the fact of the contribution, it is what is done with it. the question here is whether it was used for personal use. joss: they cannot help the momentum seeing further reform in japan. stephanie: in the market, we have earnings. when we come back, shares of as users areup, turbocharging sales growth. more of that on "bloomberg ." ♪ david: welcome back. futures slightly up. we are here with josh and are you recovering -- and tom keene. tom: i am stale. david: you are never stale. stephanie: are you gluten-free, tom? david: this is the rational. we are not going down. vonnie quinn? vonnie: they may send thousands of refugee
Bloomberg
May 25, 2016 7:00am EDT
they going to ask this question and where? >> good morning. it shows how nervous china's leadership is of the looming fed rate hike. issuelan to raise this when diplomats meet as part of a strategic economic dialogue. a rate hike matters for china because it would put pressure on the yuan. it could spark capital outflows from china. it brings back all the problems we saw toward the end of next year. china wants reinsurance from the u.s. official that they will telegraph well in advance any move that americans -- they are even going far as to say they would prefer a move in july rather than june. vonnie: despite a 62 billion dollar offer being rejected, they are still says it can get a still says it can get a deal done with monsanto. what can they afford? a number ofaring analysts put out numbers. jeffries is saying they could afford $140. another firm saying they could afford $145. clearly shareholders were not sincewith the idea at all it started being talked about may 12. the stock has fallen considerably since then. david: more job cuts coming at microsoft. they are trying to und
Bloomberg
May 13, 2016 7:00am EDT
fall to a 22-month low. tim cook may be looking to china for a way out. billion of apple in two didid. i. into did look, the shares are down today again. dropping below $90 apiece. we will be talking about who could overtake apple is the world's largest company. no one has done it on a closing basis. david w.: who could it be? alphabet? matt: the owner of google, that is correct. jon: financial markets, bearishness, bearishness, bearishness. byare just up marginally 0.1%. is there more upside left in the market? let's ask julian emmanuel. the amount of bearishness. where do you want to begin. shoulde any reason i just go out there and go long? the near term, we are cautious, as well. for now, at 17.5 times earnings with political risks here and abroad directly in front of us and the economies and numbers starting to slow down below expectations, there is reason to be cost is very david w.: but causedy, a recession is by something. what would precipitate it? thean: i would say it is after effects of the negative rate regime in europe, lack of confidence in the financial system. a
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