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Bloomberg
Jan 6, 2017 2:30am EST
updates its listing. trade troubles. china set to be considering significant retaliation if donald trump delivers on his protectionist promises. how far could follow spread? it is job day. obama set to hand over his successor the best stretch of jobs growth since the night -- 1990's. can trump deliver wage growth? what's happening around the your gmm, yen down by 7/10 of 1%. still trading 116. dollar, british pound 3/10 of 1%. bloomberg dollar index up by 2/10 of 1%. in terms of bond market, we are waiting and watching to see exactly what happens a little later on with that. the spread between boones and treasuries, just beginning to tighten up a little bit. this talk about where we are in the weei and will reach the markets to go in 28 minutes. london looks like it will hold, but the rest of the spread across europe looks like it will be negative. payrolls will have a big contributor factor later on in the afternoon. let's get the first word news. >> thank you. the offshore yuan has paid its record weekly rally is china's central banks raised its fixing less than expected. goldman
Bloomberg
May 12, 2017 2:30am EDT
higher in gold. as i said, china in that trend of moving higher this morning. let us get the bloomberg first word news. here is juliette saly. juliette: thank you. in the u.s., president trump has described former fbi director james comey as "a grand stander." his remarks departed from explanations given by several white house officials earlier in the week. he told nbc that the fbi has been in turmoil for months and comey was not the right person to help it recover. pres. trump: what i did was i was going to fire comey. my decision. >> you had made the decision before t they cam room? juliette: the u.s. has reached an agreement to provide greater access to american natural gas exporters to china as part of a broader effort to begin reshaping the trade relationship between the world's two largest economy through the agreement covers 10 areas where trade negotiators from the u.s. and china have reached consensus, including agricultural trade and market access for financial services to we will speaking with u.s. commerce secretary wilbur ross about that gilad: 30 p.m. u.k. time. is prepar
Bloomberg
May 24, 2017 2:30am EDT
are we watching question mark the china crunch. cuts beijing's rating for the first time since 1989. the markets have ignored the move. is chinese debt the elephant in the room or is the rating agency overreacting question mark threat level critical. theresa may warns of -- that further attacks could be imminent following the suicide bomber in register. what will this mean for u.s. shale question mark we will speak to former bush energy .nergy -- official the ecbam here for review. we will not expect much about monetary policy. that is on everyone's mind as lieutenanti's to top seem to disagree on how the ecb or when the ecb should start to normalize its policy. we will hear about the ecb's outlook for the eurozone growth and inflation and maybe get an update on the target and how the ecb thinks it's monetary policy is holding up. guy: mario draghi speaking in spain later. that could be a key discussion point. let's talk about where we sit with the markets. no clear sense of direction at the moment. the markets are looking for the next leg. that is what we are seeing at the moment j
Bloomberg
Jan 20, 2017 2:30am EST
split the banks. and china's economy accelerates for the first time in two years. could a trade war with trump derail all of this? live in davos, i'm erik schatzker. warns, brace for the trump slump. he tells bloomberg the president-elect will fail and so will markets. the billionaire investor didn't hold back. him as andescribed and aer and con man would-be dictator. bullish on the united states. toyota's chairman said the automaker has full confidence in the u.s. market. and the view from inside the ecb. we speak to the governor of the bank of france at 11:45 london time. ♪ matt: thanks very much for that. looking forward to all the coverage out of davos. we've got a lot coming up with tom keene as well. definitely stay tuned. just a half hour until the european open. let's look at where futures are trading. we were down across the board yesterday. the ftse down the most of the european indexes, half a percent. looks like the ftse is the only one trading up in futures today with the exception of the ftse mib in italy. it doesn't look like the markets are prepared for a lot movem
Bloomberg
Jul 3, 2017 2:30am EDT
leaders of japan and china. it comes after they accused u.s. of trespassing to save a guided missile destroyer. the move ahead of this week's 20 meetings could signal the white house is displeased with china's efforts to pressure north korea to curb it nuclear and missile programs. in china, the latest gauge of manufacturing has added the economy is maintaining momentum after a strong start to the year. the survey beat expectations, coming at 50% in june, up from 49.6 in may. in the u k, theresa may's government has changed its tune on brexit, striking a more sober and realistic tom weeks after her disastrous election. tone weeks after her disastrous election. gesture toiliatory an audience that feels it has been overlooked. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. guy? thank you very much indeed. let's get back to the bond market is that is the big story of last week. the u.s. 10 year yield is just one percentage point above the record low. even after we saw this big rises in june. the limited advan
Bloomberg
May 19, 2017 2:30am EDT
aircraft over the east china sea on tuesday. a u.s. spokesperson said the interaction was considered unprofessional due to the movements of the chinese pilots. the spokesperson said the air force is discussing the event with china. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. matt: thanks very much. the political brouhaha in washington looks unlikely to blow the federal reserve off course from raising interest rates this year. starting with an increased next month and following with another later in the year, let's see where wirp is this morning. take a look at that screen. 97.5% are the chances of an increased rate in june. we are joined by mark cudmore from seoul. how resilient is the fed's politics -- fed to politics? no agency can be fully independent of what is going on in washington. in terms of the june decision, they are extremely resilient. there are a few ways this can impact the market. one is, is that it is turning down yet? the data remains strong. the data is saying a june hike would be ok.
Bloomberg
Apr 5, 2017 2:30am EDT
bargain for china? the bond market is ebbing. fed signal a letter ate? -- flattter r matt: we see the ftsi as the as futuresner as far are concerned. the dax little changed and the cap pointing to a slight gain, .1 of 1%. as far as the bund tray goes, investors continue to buy bunds, slashing down the yield. maybe it is a risk off kind of day. yields going down, prices going up, that seems to indicate that the reflation trade is fading and animal spirits may be back in their box. nothing is happening at least in the first couple of columns. you see all that great they're telling you you are not getting a lot of movement. switzerland not doing anything, british pound, not on the move. the rc is on the move. you're not seeing a great deal of action in the form the exchange market. it feels like markets are little asleep today. where we are seeing action is the commodity space. you're seeing a better big command to the oil trade. -- bid coming into the oil trade. rent crude trading up by around .6 of 1%. wti a similar story. the data is starting to get busier. let's get a bloomberg first
Bloomberg
Feb 10, 2017 2:30am EST
. i'm guy johnson. matt miller back in berlin. what are we watching this morning? one china. trump reaffirms america's support of the long-standing taiwan policy in a call with xi jinping. a phenomenal tax plan. trump's words on his upcoming tax overall sends stocks up in bonds down. and, raising the bar. dijsselbloem in brussels today. can a greek deal get done? matt: we are less than a half-hour to the open of european trading and it is going to be an exciting day after a surge in asian stocks. the nikkei up 2.5%. the s&p 500 rose to a record on optimism for president trump's tax plan. now we see european stock index futures pointing to a positive open. also on optimism for that one china backing we got out of the white house. ftse futures up 0.3%. dax futures up 0.5%. guy: it is a fascinating friday. you can see it across the gmm screen. the nikkei up 2.49%. the real blowout performance coming from japanese stocks today. the yen is down 0.4%. in the sbr in -- abe u.s. today. hazmat was saying, equities bid, bonds on offer. the other thing i want to show you, iron ore. very solid
Bloomberg
Oct 25, 2016 2:30am EDT
. can china and take over? reviewh does this opposed to this transaction? trade-off? as the eu comes to the trade deal and crumbles. access to the single market for fewer foreigners. will politics kill globalization? hike now at 70% by will policymakers move at a or inflation like a fire under the ace berger? yesterday we were saying it could be a little bit of a move higher. we are in a ring but only in the euro stock. .esterday, interesting report department of justice could delay and views, any findings on the eggs until after the election. fascinating news. >> clarity on deutsche. let me take into the dmx and tell you what is happening around the world what you need to know. first of all, the dollar is up. you are also seeing the japanese yen trading weaker as well. we're at 10 four. there are some calls that they go significantly weaker from here. really big move in the commodity markets and asia particularly animation space. flat open court in europe. you are watching the reporting season. more part the spot rather than the market today. this is the rest of the week particularl
Bloomberg
Nov 22, 2016 2:30am EST
barriers ariffs andown ter market barriers. guy: china sees this as a great opportunity? edna: i guess that is the flip side of it. entertage left u.s., and china. there is this alternative trade talk that has been talked about. asea an aussie on lead -- n-lead deal. if that one gets off the ground, it does not have all the bells and whistles that tpp has. the tariff production is less and the barriers internal markets are not taken down as much as they would have been with tpp. it shows you how governments in this region are going to have to increasingly turn to china for leadership if president-elect trump cut back on trade in favor of bilateral trade deals rather than the big multilateral deals might tpp. guy: thank you very much. maybe a golf driver doesn't buy you much in trump town these days. it certainly seems that abe's meeting did not bring much. how much do i need to worry as i look at my asian investments, about what is happening with the relationship between the u.s. and asia and the fact that china , the hegemonic push, is going to continue. it will have the ability
Bloomberg
Jan 26, 2017 2:30am EST
immigration law. hisese premier li says country will champion economic openness. he described china as an "an chor of stability with its consistent message of reform and free trade. china has been perjuring himself as a champion of globalism, as donald trump scrapped the tpp and says he will renegotiate nafta. china's central bank ordered the to controlnders new loans this year. the government has been targeting home loans since thte fourth quarter to contain runaway property prices in areas deemed overheated. french prosecutors have opened a probe into presidential regardinger fillon the employment of his wife as a parliamentary aide. this comes a day after a french newspaper reported penelope fillon collected a public salary totaling 500,000 euros without actually doing any work. says thisment, fillon investigation will allow him to put an end to the unfounded accusations. global news 24 hours a day, powered by 2600 journalists and analysts in more than 120 countries around the world. this is bloomberg. matt: thank you. the dow jones industrial average closed above 20,000 points for the fir
Bloomberg
Oct 13, 2016 2:30am EDT
overdone. be debating if not reversing. >> thank you for your time this morning. china isn't melting down. it get over it. we get a positive perspective on the nation's prospects. shortages ash products disappear from the shelves. we will break down earnings numbers from the consumer goods giant. and will wells fargo go far enough? those stories and many more, coming up. ♪ >> a few minutes until the markets open. risk aversion after chinese numbers. let's get to the business/. >> the u.s. government has barred royal bank of managing 401(k) plans and other retirement funds. the decision will have little impact on the business but it could send a signal to others. department did not immediately respond to our request. boosting capital by selling an additional 20% of its stake in the online banks. italy's biggest lender is set to raise 550 million euros. it's remaining holdings will be locked up for a year. union labor reported third-quarter sales growth that beat estimates thanks to increased demand for ice cream brands over summer. and reports the court will start selling core asset this
Bloomberg
Jun 14, 2017 2:30am EDT
will be with us live says that china reforms in progress need to accelerate but so far, it looks like it is enough to lift's the imf growth 6.7%, then china to second increase the imf has put out for its china forecast this year. very interesting stuff on the china front. you will get that live at 8:30 a.m. london time directly from david lipton. guy: i wonder what the imf makes of the credit impulses fading in china? great -- greek stocks continue to be well bid. a fascinating read, that was the story yesterday of 1.6%. the aussie market well bid overnight. --t is happening is what is interesting is what is happening overnight. the bloomberg dollar index down by .1 of 1%. the pound has got traction which seeing ftsee futures indicating a lower start later on.ndon market let's find out what is happening in west london. let's get a bloomberg first word news update. here's juliette saly. juliette: thank you. in london, 30 people have been hospitalized after a huge blaze engulfed the tower block in the west of the city. the fire started at 1:00 a.m. u.k. time and emergency crews wer
Bloomberg
Apr 7, 2017 2:30am EDT
and is there any affect on the china conversation? can we talk a little about that? line easy to draw a between what happened in syria and what can potentially happening north korea? that let me get to question first because we are here to talk about the headlines that we thought we were going to be making. the first face-to-face between donald trump and xi jinping, but that has been overshadowed. we have not heard any word that there will be suspension of any talks. we are expecting those talks to go ahead over the next 24 hours. they will be talking about u.s. jobs going into china and can -- currency manipulation allegations as well as the u.s. deficit with regard to the trade surplus that china does enjoy. off of that, to your first reaction inut washington, d.c. and basically across the country in terms of politicians, it has been mostly i partisan support from republicans and democrats. we have seen paul ryan coming out saying this strike is appropriate as well as just. senator john mccain as well as lindsey graham were the first two senators to come out saying they supported th
Bloomberg
Nov 1, 2016 3:30am EDT
bloomberg first word news. here is shery ahn. shery: the civilization of china's economy appears to be taking hold with the official manufacturing pmi jumping to a two-year high. reading of 51.2 topped even the most optimistic estimates. the positive signs maybe in the central bank hold off further measures after keeping the key rate at a record low for more than one year. the reserve bank of australia cap's interest rate unchanged. it signals governor philip lowe is prepared to tolerate we can inflation to avoid further escalating property prices and household that. -- household debt. three of the federal reserve's primary dealers think the central bank will hold off on hiking rates until 2017. believec, and rbs policymakers will have rates in both meetings. that is improving economic data and the hawkish tone of officials. more than 71% chance of a rate hike this year. he will stay as governor of the bank until june 2019, to help guide the uk economy through brexit. he ends month of speculation about the canadian future at the central bank. philip hammond welcomed the decision. some
Bloomberg
Jan 17, 2017 2:30am EST
checks to banks. in china and india, they are leading the way. while the united states considers itself a financial center and the center of technology, the revolution that is really occurring in financial services is occurring in emerging markets, china and india, where they are bypassing some of the things that we have in the united states, because they are really going from emerging market to financial tech revolution. you find many more people comfortable with using mobile payments in china and india than the united states, a much higher percentage. you are also going to see enormous amounts of ways people are going around the traditional banking system by doing things that banks do for them historically, but now nonregulated institutions can do it. all financial tech revolution has seen in norma's amounts of money coming to the space. right now, you are seeing five times as much money going into financial tech companies as five years ago. and it is projected that it will increase by 50% per annum over the next 10 years because there's so much opportunity to make money for in
Bloomberg
Nov 23, 2016 2:30am EST
before the arrest. facebook is keen to enter china, it has created a tool to censor information according to the new york times. china blocked facebook in 2009. the social network could return given restrictions and other regulations that favor locally owned companies. facebook had not made any decision on its approach to the country. they declined to comment on the report. open news to me for hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. hammond gets his chance to change policy in the wake of the brexit vote. with public finances forecast to deteriorate sharply over the coming year as brexit takes its toll, we will discuss that, hammond has little room for big fiscal giveaways. we will be in westminster monitoring enrollments as the chancellor's speech kicks off around 12:30 p.m. u.k. time . the u.k. business secretary gregg clark. let's talk about what the chancellor needs to deliver. our guest joins me now on set. to does the chancellor need do anything today? the u.k. economy is in great shape. it is in imf sur
Bloomberg
Oct 26, 2016 2:30am EDT
china, deposit -- syngenta, chem china, to ponte. we're joined by the ceo who joins us. great to see you. bit -- we a little will get into the monsanto transaction in a moment, but give me the top down on what's happening over the last quarter. the pharma business did well. walk us through where you are happy, ere you are not, what's going on, what are you seeing? >> ok, good morning. first of all, we mentioned a very good third-quarter. we are very pleased, particularly with pharma performance. we are seeing strong growth, roughly 7.6%, and that was mainly driven by our major brands, first and foremost peralta. that has another growth of almost 35%, followed by a very strong in sequential performance. overall, the top products have grown by roughly 28%, to 1.4 billion at top line level. we have also seen a pleasing probation and earnings, despite significant increasesii in r&d funding. consumer growth has gone up as well compared to market growth, which is more than what people expected. resilient in a difficult market environment. flat topline overall, but if you look at it in
Bloomberg
Dec 30, 2016 2:30am EST
the liquidity support steam. china's central bank as stepped up efforts to curb money laundering. they will require financial institutions to report any cross order traps first of $28,800 or more starting on july 1. the pboc also said it must be notified of any domestic cash deposits, wraust of $2,00 or more or when banks have reason to believe they may be suspicious. the outlook for the labor mark is bleak. that is according to the chartered institute of personnel and development. it says slower growth and lower real wages will be major challenges for the government and businesses over the next 12 months. the body warns that companies could be faced with a shortage of workers from the e.u. and insists that clarity is needed on the status of e.u. citizens in britain. global news 24 hours a day powered by more than 2,600 journalists and analysts in more than 120 countries. this is bloomberg. anna: thank you. reverse the sanctions the departing president has imposed for hacking the election, or to improve his campaign vows to improve regulars. they are imposed by executive order, b
Bloomberg
Oct 19, 2016 2:30am EDT
are we watching? in china stabilizes but when does the delivered to talk rhetoric torom reality? ofan suffers an exit is global money on scene since the 1980's. have investors given up on the --ld's third used economy? third biggest economy? hillary been priced in and can trump turn it around in the final debate? caroline: we are up checking on the euro stoxx 50. we saw cautious trading at is, six .7% bang in line with expectations that oil is trading higher, pushing the stocks of 0.13%. there was a big rally yesterday. guy: let's pay attention to what is happening with the gmm. we did see a move on the british pound. the cpi data out of the u.s. certainly something to pay attention to. european equities were higher. keep an eye on crude. we will be watching as the data flows through. philip hammond in front of the treasury select committee and we .ave teresa somearkets are unwinding of the positions we saw yesterday. that crude movie is interesting on a day when saudi goes to market with this bond issue. and issues its first international bond. here is the bloomberg first word news.
Bloomberg
Feb 9, 2017 2:30am EST
drop that we saw in china car sales overnight, down almost 10% for the month year-over-year, the first drop since february. -- in february. guy: we will see how this is all explained. the markets are probably ahead of themselves, so says larry [inaudible] falling below 2%. sounds like the guest we had yesterday, steve major. calling for the tenure at 3%. somewhere in the middle is kind of where we are now. three, therth of market does not seem to make up its mind. -- bring in our guest. explain the market for me. mark: we are starting to see a bit of a squeeze at the short treasury position. the 10have come down in years basis come down 20 basis points from where they were two weeks ago. in that background we have a 30 year auction -- option we have the idea that court strong demand. which shows there is a demand for long and debt. the markets are worried this move could accelerate on the yield side. when you talked to market participants, how soon do they expect to actually see some kind of fiscal stimulus, tax reform, deregulation from the trump administration because that is w
Bloomberg
May 31, 2017 2:30am EDT
commodities, you're going to see china highlighted again here as far as the move with the sovereign bonds, the five-year dropping 5.7 basis points as people buy into those bonds. you also see a big three standard deviation move on rubber. interesting stuff on the gmm this morning, a lot more action than you see in your equity index futures. let's go to bloomberg first word go to sophiet we kamaruddin in hong kong. sophie: in the u.k., the pound slumped as anxiety surrounding the outcome of the general election tightened. theresa may's conservative party may lose its majority by 60 seats. a pollrperformed after in the times showed the tories may lose 20 seats at next month's election while the main opposition labor party could gain 28. japan's industrial output rebounded in april hitting the highest level since 2008. industrial production increased 4% from march when it fell 1.9%. that is as overseas demand continue to support the nation's economic recovery. house trump white national security adviser michael flynn has agreed to turn over a limited number of documents sought by the senate intel
Bloomberg
Feb 21, 2017 2:30am EST
our biggest market is greater china. we saw growth across the world. we are in 100 countries. viewe have a pretty good and we also undertake a long-term view in our business. it takes a long time to build up our hotels. there is some uncertainty out there but we are confident and that is what drove our decision to raise our ordinary dividend by a 11% and also return $400 million to shareholders. anna: you have given us a bit of detail -- what do see in your u.s. business? is there such a thing as a trump boost? some measures of the u.s. economy, some markers are doing victory.st trump what you see in the demand picture for the u.s.? >> in terms of guest demand in the shorter term we saw a decent performance in the fourth quarter. ongoing is even within negative impact in oil markets. in terms of longer-term, we signed more deals then we have signed in new hotel since 2008. it is hard to attribute it to donald trump or anything else but clearly if the economy grows that is beneficial to the travel industry and would be beneficial to us. --a: does the trouble then does it the travel b
Bloomberg
Jan 30, 2017 2:30am EST
china. vodafoneing an eye on as well and what's happening in india. there have been reports confirmed by vodafone on share mergers, a consolidation in that market. we look like we are heading for europe as we in continue to digest what is happening in washington and elsewhere. that's really the story dominating think this morning. the open in four europe minutes. ♪ guy: good morning. welcome. i am in london. matt miller is in berlin. matt has your morning brief. y, someuide, trump -- gu turbulence again. the immigration ban -- the president signed another executive order at 3:30 p.m., london time. what effect will this one have? beating the establishment. an outsider defeats former prime anual in france france'sialist -- socialist primaries. over toyo askes the world's best-selling automaker. countries affect this competition? guy: let us talk about were this market is going. we are open and waiting to see how soft we will be. .5%.ink by around the ftse is down by .2% already. this difficult to figure one out. short-term, medium, long-term, to figure out what is going on h
Bloomberg
Jun 5, 2017 2:30am EDT
give more flexible the in doing deals. jpmorgan ceo says china has made huge progress on market reforms and he would like to increase his firms businesses in the nation. speaking exclusively to bloomberg, jamie dimon said the bank is hoping to get a bond license in the country and would continue -- consider another joint venture in the economy. >> they have made huge progress in financial reforms, market reforms. times going to have tough and we understand that, that's true for every single country that has gone from an emerging country to a developing country. bloomberg's is this flat smash. matt: thank you for very much for that. donald trump is set to kick off and infrastructure drive on the campaign trail. he channeled $1 trillion into the nation's roads and bridges and hopefully the airports as well. in the markets, we saw a dollar take a dive after nonfarm werolls come under $38,000, were looking for 182 and the whisper was 200, so a pretty big miss. u.s. stocks already hit an all-time high on friday. before they cross, after they cross, whatever index you look at in the u
Bloomberg
Apr 6, 2017 2:30am EDT
outcome from his xiks with china's premier jinping. than an hourless and a half away from the cash trade. it will see a sea of red. red across the board. we're looking at not massive losses but the ftse futures down 7/10 of 1%, the dax and cap futures down .41%. keep an eye and equity trade when it opens 28 minutes and 30 seconds from now. take a look at declining in the bund yields. very interesting. it is still off from where it was yesterday. investors have gotten in and bought it looks like some kind of safe haven protection, pushing the yield down to 2.5 4%. over the first half hour of trade you can see we have, but little bit. interesting to keep an eye on that bund yield. guy: the features -- futures are interesting. keep an eye on that, we will talk about that as we work our way through the morning. u.s. trade will be paid a great deal of attention to. the nikkei was down by 4.1%. and parcel ofd that story. the asian session not exactly positive. the aussie is trading lower. that is the key takeaway. we're waiting for mario draghi, try to figure out what he is going to say.
Bloomberg
Oct 18, 2016 2:30am EDT
are learning about netflix's china strategy. >> a little bit of hiccup in that market. netflix has said that there will not be an income coming from that market apart from licensing content. to china including alibaba. centrally because of the regulatory hurdles, there will be some time before netflix can expand directly into that market. guy: we will wrap it up there. thank you for joining us on netflix out of hong kong. james, do you have to have these guys in your portfolio? one on thee purple bottom has been a bit of an underperformer. >> i am in the top three and i missed out. guy: you have done really well. >> part of the game is a tempting to stay ahead of the numbers rather than responding to them. if you said what are the strategic challenges -- it is that alibaba will have a go at eating its lunch. what they lack is an integrated payment system. in terms of technology therefore is it all about the u.s. big players? what about the european players? , iwhen i look at europe still worry about the -- existential crisis that i believe will face the euro. when they target to sy
Bloomberg
Jul 4, 2017 2:30am EDT
much levity given the magnitude of this. perhaps china will put heavy moves on north korea to end this nonsense once and for all. we have heard from the south , saying theyent will urge north korea to stop his provocation. also shinzo abe said the threat obviously korea, is even this morning's test of the icbm is as gliding. the -- on the be minds of leaders as they gather for the g-20. we do not know what they can still do to rein in north korea. guy: thank you for the update. stephen engle joining us from hong kong. this --ets have ignore ignored this. to's turn our attention another story. the reserve inc. of a story has left benchmark interest rates low, the at a record decision comes a week after the bank of england, bank of japan at a signaling the time for starting to move in a different direction and hiking rates. janet yellen has said the finding is on track. in some ways not following through on what we have an seeing from other central banks, whether or not there was coordination or not. the rba does not seem to be part of it. bloomberg reporter james thornhill. james: there
Bloomberg
Nov 18, 2016 2:30am EST
that. i want to come back to what is happening in china. this is a safe haven trade. the euro is going down. is that a concern about what is happening with donald trump? is it concerned about what is happening with an extension of the donald trump story into the italian referendum? >> i think this is reflecting the surge in the polls, not that buthould believe the polls, the surge in the polls of some of the populist, anti-establishment movements in italy and also in france and germany. this is a risk off around the eurozone in terms of geopolitics. the chief economist at commerzbank was adamant that the italian referendum is key to the outlook for europe. do you think that investors are underplaying the importance of this referendum coming up at the beginning of next month? think a lot of that is expected. if you look at the italian polls, every single one is showing that renzi is likely to lose that referendum. we have seen a widening spread in italy. much of that has made its way into the market. investors are looking further ahead seeking the likely outcome in the french elec
Bloomberg
Jun 30, 2017 2:30am EDT
. look at what happened here, dax down by 1.83%. the cac was down. australia down by 1.66%. china, today we bounce back a bit. take a look at this long-term chart. what else is going on in these markets around the world? the japanese 10 year is up another three basis points. we are not even talking about the levels we are seeing in germany, but that is the move. the australian bond market is interesting. take a look at the mliv. they have smart analysis. there is plenty going on. the bond market is the story. but use that would context. let's look at what is going on around the world. u.s. president donald trump and his russian counterpoint vladimir putin is to meet for the first time as heads of state. the meeting during the g 20 summit in hamburg qualcomm as relations between the two countries are at their lowest in decades. war in syria, moscow's intervention in ukraine, american sanctions, and investigations into russian meddling in the u.s. election, including possible collusion between trump officials and the russian government. in the united states, the revised travel ban p
Bloomberg
Feb 2, 2017 2:30am EST
or europe may have chances to reach out, angela merkel may get together with the president of china and do a lot more trade. guest: it is difficult to say. one of the things i think is interesting is that if you look at china, china is the most protectionist by distance and we had in terms of foreign direct investment data, there is a clear mismatch between the ability of european corporate's investing in china versus chinese corporate's ability to invest in europe and the u.s. in terms of what you may find is the u.s. administration may stumble in to prying open the chinese economy a little bit. maybe one positive. it is difficult to say how everyone else reacts to a more protectionist u.s. that is something that people will be thinking about and china seems to be talking about trying to be a bigger player in this. guy: we will leave it there. we will come back and talk to later in the program. shell is -- missed estimates in the fourth quarter earnings belows as traffic came in analyst expectations. joining us now from the london ofck exchange is the ceo royal dutch shell. good mo
Bloomberg
Nov 7, 2016 2:30am EST
article 50 of the lisbon treaty. china has ruled that anyone who independence for hong kong cannot hold public office. the decision by the national people's congress standing committee was only its second unilateral interpretation of hong kong law since the former british colony's return to china in 1997. police scuffle with protesters in the run-up to the decision as thousands of people took to the streets in support of two pro-independence legislators. chen has replaced the finance minister. according to the chemung news a new topere is finance official who has worked for three years as vice secretary-general of the state council and an important aid to the premier. local news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries -- this is bloomberg. guy: a bit of breaking news for you. we have nissan numbers hitting the tape. the operating profit is ahead of operations -- ahead of expectations. the sales line is a little bit light. the company is saying basically they had adverse headwinds on the fx side. on theseeing a big move yen this morni
Bloomberg
Nov 28, 2016 2:30am EST
. china plans to implement sweeping curves on overseas dealmaking by the nation's companies, according to people with knowledge of the matter. it comes as a record outbound acquisition spree puts pressure on the qb to weaken. cap investments at $10 million. it will also apply to foreign investments of $1 billion by state-owned enterprises. the curb will last until the end of september, 2017. global news, 24 hours a day, powered by over 2600 journalists and analysts in more than 120 countries. bloomberg. guy: thanks. the dollar is declining overnight after touching more than a decade high last week. the greenback has fallen by the most since september. do you have got to appreciate where it has come from. traders are focusing on oua derailing dollar, payrolls coming through on friday. pricinget is selling, in a 100% chance of the fed hike in december. let's talk about king dollar with stephen king, the senior economic adviser at hsbc. good morning. too far, too fast? >> well, it has been one night of dollar sales. i think many fx dealers are still thinking that a trunk victor
Bloomberg
May 22, 2017 2:30am EDT
russia and china, who are not necessarily on board with an increasing isolationism of iran. there are a few major countries who believe "iran is the greatest source of instability in the region." if you pull up the function, you can see europe is a key trading partner. you thought congratulations coming in from the e.u. foreign policy chief. iran will try to leverage that relationship to counterbalance speech coming from the united states. guy: yousef, as ever, great work. yousef gamal el-din, who has been covering the elections. let us talk more widely about what has been happening. aat emerging-market receiving boost. indonesia raised to investment grade. there are questions about whether this would be happening or not. we hosted the indonesians here at bloomberg only a few weeks back during quite positive stories being told by them. tim graf, let me take you to this chart here, which is uyreigners justbuy, buy, b the indonesian bonds. i removed the hedge fund talking about it then. that were mutterings and it took off. is this getting a little stretched, looking a little long in
Bloomberg
Feb 7, 2017 2:30am EST
showed china lending possibly exceeded the previous monthly record according to people close to the matter. the same regulators estimate loans rose last year that could beat the record in january 2016. the credit surge highlights the challenge policymakers face as they strive to prioritize reducing leverage and deflating asset bubbles. that is your bloomberg business flash. matt? matt: thanks very much. bnp has missed estimates for the fourth quarter. earnings fell at the french banking business. that fell from a year earlier. the ministry was looking for 1.6 3 billion. we spoke to the cfo about the company's results. >> during the year, we have improved our lending rates. we have increased lending rate in the last quarter. they having proved by 4.2% compared to the year before. that is a positive thing. however, the low interest rate environment will most likely remain for the year to come. so i think that next year, we will remain difficult, although the trend is positive. one of the things we will have to see is how it evolves? enter, we -- andrew, we have a situation in which eu
Bloomberg
Mar 13, 2017 3:30am EDT
markets? and turning to china, why bitcoin traders are looking east after hopes of an etf were dashed in the u.s.. this is bloomberg. ♪ matt: welcome back to the european market open. i'm matt miller in berlin. guy johnson alongside me in london. in london is where we see a lot of big stocks moving. a lot of those big miners are the big gainers and losers. guy: they are adding weight to the market. we will see what happens with the pound. we've also got some m&a. will be talking about one of those stories. amex foster is being bid. what is interesting is the wood group is also bid as well on the back of this. this deal.likes here's all the resource companies and what they are doing in percentage terms and index points terms, adding weight to the market. let's get some of the other deal news and what is moving. nejra. nejra: you want to look at those homebuilders. i've highlighted bovis. this is after it rejected a takeover bid from its competitor. this is after dismissing an earlier offer from redrow. bovis said its new ceo search is progressing well. seeing that stock moved significan
Bloomberg
Jul 6, 2017 2:30am EDT
young tip of an intercontinental ballistic missile. china and other nations are not doing enough to rein in kim jong unser regime. -- kim jong on's regime. >> the u.s. is prepared to use the full range of our capabilities to defend ourselves and our allies. is withur capabilities our considerable military forces. we will use them if we must but we prefer not to go in that direction. juliette: donald trump will race the possibility of cooperation with russia on easing the syrian conflict when he meets vladimir putin tomorrow. rex tillerson's comments reflect the determination not to get too deeply embroiled in syria while signaling a willingness for improved ties with moscow. poland has agreed to buy the patriot missile system from the u.s. the deal would not have been possible without president donald trump who is visiting warsaw, the polish officials said. the memorandum of understanding was signed. the european union and japan have overcome their differences on farm and car exports. the accord announced by the trade commissioner paves the way for a free trade agreement between two
Bloomberg
Aug 11, 2017 2:30am EDT
construction will start next year. china's online watchdog has launched an investigation into multiple violations by baidu, and waidu. they made no immediate comment on the notice. the bond board member from uber is stepping down. graves served as the senior vice president of operations and is on the executive leadership team tasked with running the business in the absence of a ceo. he will relinquish those positions next month, but will remain on the board to help the company search for a ceo to replace the cofounder. that is your bloomberg business flash. guy: thank you. donald trump has stepped up his campaign for pressure on north korea as he warned the regime not to follow through on firing a missile towards u.s. the latest or marks reinforce the aggressive -- the latest remarks reinforce the president's stance, despite rex tillerson trying to ease tensions. >> i think this is the first time they heard it like they heard it. frankly, the people that were questioning if it was too tough, maybe it was not tough enough. matt: joining us now is our asian political editor. give us a se
Bloomberg
Nov 10, 2016 2:30am EST
. the yuan has the to a six-year low on concern about china's trade relationship with a more protectionist u.s. china arump is called grandmaster at currency manipulation and has threatened tariffs of up to 45% on the countries imports. commonwealth bank of the story has estimated such a move would cut china's shipments by 25% in the first year. new zealand central bank said it has only done enough to return inflation to target after cutting interest rates to a fresh record low. the reduce the official cash rate by a quarter to one point 75%. inflation has languished between 3%. despite some of the strongest growth in the developed world. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 100 -- 120 countries. high: and the hours of -- after marketas been elected, players have been awaiting clarity on the president-elect plans while others have been getting in there and putting money to work. >> i tried to put a lot more to work but i could not put more than about a billion dollars to work. and then the market got away. i am so happy ab
Bloomberg
Feb 28, 2017 2:30am EST
ahead of the congressional address and later. starbucks ceo says china will overtake the u.s. in terms of stores. that interview and plenty more to come. this is bloomberg. the open is 18 minutes away. guy: let's catch up with juliette with the bloomberg class. >> south korea's special for other -- executives. formal charges would mean he stands trial over accusations of involvement in bribes to government figures. samsung will disband the group's strategy office which oversaw long-term planning and coordination and stuff with the government. they have denied wrongdoing. takata has pleaded guilty to one misleading commenters to the safety of the exploding airbags. they enter the formal plea in detroit federal court six weeks after reaching a $1 billion deal with the u.s. justice department. the product seven links to at least 17 deaths worldwide and subject of the biggest product recall in history, expected to cover more than 100 million airbags. the head of the world's biggest mining company has intensified his warnings that u.s. trade protectionism under president trump will threaten
Bloomberg
Dec 13, 2016 2:30am EST
caught up with the bloomberg first word news. china's stabilization held in november with industrial production climbing 6.2% from a year earlier. slightly above estimates. 10.8% while about fixed asset investment increased in the first 11 months of the year. policymakers have more room to switch from stimulus towards curbing financial threats. president-elect donald trump will announce today that he mobileo nominate ask on ceo rex tillerson as his secretary of state. if he is confirmed by the senate, it would hand the job of the nations top diplomat to a man whose ties to vladimir putin go back almost two decades. this at a time when possible russian interference with the u.s. election is under scrutiny. a paris court was told that an imaginary -- on her charge of negligence charges. accused of not doing enough to prevent a large number -- government payout. she rejected the charge and said she acted in the general interest. the hearing continues today. global news 24 hours a day, powered by more than 2600 journalists and analysts in more . this iscountries bloomberg. guy: thank you
Bloomberg
Oct 24, 2016 2:30am EDT
economy ministry has reopened a review of its china branch. although exxon did not specify the decision that come to germany seeks control as a foreign investor in europe and companies. euela merkel has called for measures to give government expanded power to block or impose conditions on shareholdings of non-eu companies. phillips had seen third-quarter since thee 14% personal health and diagnosis treatment businesses improve. the ceo is sharpening its focus on growing in the health care market. this year, the dutch company sold shares of a division in an ipo and will sell its component business in the second half of the year. banks in the u.k. will start relocating operations as -- out of the country by the end of the year as london looks to lose access to the eu single market. that is according to the head the british banking association. hands areown said quivering over the relocate but for studies in many smaller banks plebiscite relocations before christmas, with bigger ones expected to start in the first quarter of next year. reducingpes of reduction have been hit by the
Bloomberg
Feb 13, 2017 2:30am EST
important to see what is going on. one of the things is that the demand from china really is there. the fact is, the global economy is picking up. manufacturing is picking up. if trump does not derail global trade with protectionist policies, the global economy is doing well. demand for real commodities will be there. do themark, when analysts start to say, i need to significantly of my forecast? they have been doing that a little bit, but you wonder whether there is much more to come. i figure at some point there is going to be a convergence. as the rio tinto chief said, it can converge for both directions. they are probably moving a little too slow. at some point, you will get some sort of correction. they nowhere where expected a few months ago, but maybe 10%. that gets analysts closer to the spot price. matt: analysts have raised the forecast more than 50% in the last 12 months, higher. that is a pretty strong move. it is just not nearly as strong as the move and iron ore, right? we have gone in the last 18 months from 42 more than 85. how much is this benefiting not only the p
Bloomberg
Apr 28, 2017 2:30am EDT
working with china, china is prepared to impose sanctions and very much sounding like war was not in the agenda at all. investors are confused about what the administration is trying to signal and not reading too much into everything trump says. living it time to verify it. guy: we are into the end of the month. if iould you describe -- am to window dress my end of month portfolio, how do you think funds have done this month? what is the market positioning story versus expectations? mark: a good question. overall, the market is long cash. we get the survey from bank of america merrill lynch that shows consistently the the market has remained long cash for the last year or so. it has picked back up recently in particular. in april is market lopsided again in that there is optimistic, then we slumped and everyone is turning bearish to the bottom. now you have arisen back and the market isn't ready for that. we break for the highs and a lot of people are underweight and have to chase this market. we pull back lower and everyone gets excited and starts trading those bearish narratives again.
Bloomberg
Feb 23, 2017 2:30am EST
partner china. and nasa has announced the discovery of seven earth-like planets orbiting a nearby star. these new worlds could hold life. they are less than 40 light-years away in the constellation aquarius and a tightly clustered around a dim dwarf star. three are in the capital zone where water and life might exist. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. matt: life come a julia, but not possibly as we know it. releases results, posting fourth-quarter profit that missed estimates. the bank said it will close that unit that houses its non-core business six months earlier than expected. we spoke with barclays ceo jes staley moments ago, and he gave us an update on the restructuring plan. >> all the efforts of last year means that in june this year we will no longer have a non-core business unit in barclays, and the second half of 2017, this bank will be what it once to be in the future and allow us to look forward, so we look barclays forward to ending the restructuring of barclays that has been going
Bloomberg
May 4, 2017 2:30am EDT
, 74 the gmm on the dollar. iron ore being battered in singapore and in china. what do you make of this, the reflation trade continues to ebb and ebb away. how should we be reading this, a canary in a coal mine or is there something more to it? sok: the downturn has been sustained it should be worrying people more. one of the most interesting things in terms of the market reaction is there was not a mass contagion effect from the commodities fall. you have a slightly hawkish said traded relatively ok. commodities topped out in february. we have seen agricultural commodities happy all year and oil tank heavily. head toward the lows. we are seeing industrial metal having problems. they commodity indexes trading poorly. there are supply issues that are hitting this but this does reflect a lack of demand based on what was expected a couple of months ago and that is a negative sign for the global reflation trade. working our way through the morning. mark cudmore, thank you very much indeed. spot analysis as ever. there is a piece of it, many more on the mliv go screen. there is another
Bloomberg
Mar 14, 2017 3:30am EDT
mnuchin and mr. chaeubler. juliette: thank you. china's economy start of the year on a firm footing as its own growth engines gathered pay. climbedal production 6.3% from a year earlier, just ahead of expectations. retail sales for the same period missed economist estimates, with a 9.5% rise. at the same time, fixed asset investment increased 8.9%. in the u.s., the new estimates show 14 million americans could lose health coverage by next year under a new geo-pay obamacare proposal. president donald trump' administrations has been quick to challenge the estimates from the cbo, however several senate republicans have said the new analysis suggests the party may need to rethink its plan. the northeast of the u.s. is being hit by a late winter storm, grounding flights, putting up our prices, and closing schools. as much as 19 inches of snow is forecasted for new york, with boston also expecting heavy snowfall. the extreme weather has forced angela merkel to postpone her visit to the white house until friday. global news, 24 hours a day, powered by over 2600 journalists and analysts in
Bloomberg
Aug 4, 2017 2:30am EDT
china re-induces -- reintroduces itself. move, too.n the the commodities story is front and center. let's get a bloomberg first word update. amsterdam has been chosen as the post-brexit hub. the news came as the lender posted profit revenue that beat estimates. the operating profit came in at 6.9 trillion pounds. >> we are announcing that we are in discussions with the dutch national bank about setting up a small european headquarters in amsterdam. very, very logical market for us. we have a bank there, it has the right licenses for us. withight decision for us, a sensible contingency plan at this point. juliette: in australia, police say they have thwarted one of the most significant terrorist plots they have ever faced. two men allegedly tried to onto a a homemade bomb flight and try to turn it into a device with chemicals. counterterrorism police raided several suburbs after uncovering the plot, which was allegedly assigned by the military group the islamic state. the central bank should start a policy of normalization. he was the dissenting voice at the boj and made the comment
Bloomberg
Aug 1, 2017 2:30am EDT
said it will combat the distortions to the world economy created by china's economic system, especially in markets of steel and aluminum. in a report, the u.s. trade representative's office said its primary goal is to defend the government's ability to impose duties on china, for dumping goods at low prices or subsidizing chinese firms. the report comes days after trade talks in washington. reportedly dictated a statement later shown to be misleading in which his son said the meeting he had with russian lawyer was not related to his father's presidential campaign. according to "the washington agreed that it truthful account of the episode "couldn't be repudiated later" after full details emerged. the president change the plan and dictated to statement that said the discussion folks -- focused on the adoption of russian children. has saidancellor briggs it will struggle ahead in march 2019 in spite of disagreements within government. overrate transition period to help deal with a split. fill in -- philip hammond is in brazil to promote trade, said the debate among cap -- ministers is abo
Bloomberg
Mar 9, 2017 2:30am EST
. guagete: china's factory prices surged last month in fastest pace since 2008. the rate rose 7.8%, coming in higher than estimates. ison mobil might separate 4.8 billion euro specialty chemicals business after rejecting an unsolicited bid for the company from u.s. rival ppg industries. azko said the proposal substantially undervalued the company and was not in the interest of the stakeholders. oil has halted losses after the biggest drop in more than one year yesterday. that came as record u.s. crude stockpiles raised doubts about the effectiveness of opec led experts. wti threatened to slip below $50 for the first time since december into stockpiles rose to the highest level in weekly government data since 1982. royal dutch shell will sell all of its undeveloped oil interests in canada. the company also plans to reduce the share in the project to 10% from 60%, knitting the anglo dutch but is there $7.25 billion. -- the anglo dutch producer $7.25 billion. deutsche bank's investors are planning to purchase shares. china'sroyal family and hna group are considering boosting their stakes in t
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