takes us to portugal for a story about a desperately poor neighborhood that's about to become even poorer. on the western outskirts of the capital lisbon, you'll find the suburb of amadora, a chaotic shanty town built illegally by immigrants from the country's former african colonies. its narrow streets are colorful and friendly by day, but riddled with crime at night. relations between the local inhabitants and police are fraught. now, amadora's always been a thorn in the side of the local authorities. so, in a bid to clean up the neighborhood for property developers, they've now begun sending in the demolition crews. it's a controversial move that threatens the livelihoods of many residents. >> these dancers brought the batuque with them to portugal from the cape verde islands. the dance was once banned on the islands -- the colonial government considered it too african. absorbed in the music, the women have a chance to forget for a moment their everyday worries and problems in their new home country. and there are plenty of worries in the african neighborhoods on the outskirts o

there. let's go over to the bloomberg terminal. portugal is way back without the german heels. we have a long-term yields here of economic stability. the prices up 12%. the real news here is that we have come in with a week real has kept thet yields below where it was during the good times. showine: i also want to you a closer portugal. on october election four. if you look at portugal, which is doing fairly better than italy, the italian yield is unchanged whereas portugal is under pressure because of political instability. richard haass wilderness in the next hour to look at the unsettled news that we got on portugal. soon. will talk to him i have three things in my head. francine: our guest host for the hour is donald straszheim. he heads the china research team. thank you for joining us. a lot of people will be wondering what's next. inflationary pressures are here, they are getting more aggressive. be confident they will have a good handle on it? donald: i'm sure they are going to ease, they have done six rate cuts so far. more to come. there is a big fiscal push and there is

importance. .t is kit juckes up next, power in portugal. poised to unseat the government. will austerity in europe lose its valuable ally? ♪ manus: i am manus cranny in london. this is "on the move." these are your top stories. bb says these top oil prices in the $60 range for about the next three years. the company's regional president for the middle east says that is because demand is increasing. justirm that runs in biggest airline -- that runs india's biggest airline, indigo. and globe rate -- into globe the first ipo for an indian airline since 2006. as korea's it comes janjuah surged. offering thatlic raised euros. that as the dust government begins to unveil its -- the bank would be valued at 18.8 billion euros. standard chartered has cut jobs in the by, including for managing director roles. bank hasement, the reduced management layers at a global level. fewer senior staff. spain heads to the polls next month. one person hoping to become the country's next prime minister. he is the leader of the pro-market. -- once a rank outsider. surging in the national polls. in an interview

day. we talked about portuguese expansion into the atlantic. portugal had tapped into a european love of sugar. it is easy to love. it makes other foods taste better. it gives you a jolt of energy. you miss it when it is gone. it is an addictive substance. there's reasons people wanted it so much. it gives you a buzz. portugal had tapped into it, expanding sugar. the crop originally developed in south asia and had come west. most european sugar in the middle ages came from the mediterranean. portugal sort of gets this technology, expands it into the aisle of madera. in the 1500s, they take sugar technology and expanded even further to the coast of brazil at the bottom of the map. as part of this trade networks, the portuguese had innovated other things. tapping into west african slave trading networks provided a source of labor for sugar growth. not the only source of labor, but an important one. this is what happens to sugar between 1500 and 1600, the slow expansion through the portuguese trade networks. throughout the 1500s, the portuguese had expanded and innovated and invested in

to discuss the ongoing scandal. portugal has approved a plan to join forces with three other left-wing parties under the prime minister. hit raises the prospect of a faster reversal of some of the spending cuts imposed to secure european union bailout. continental raised profitability goals of second time this year. the car parts maker has benefited from declines of commodity prices, oil and rubber. we will be speaking to the cfo, and don't miss that conversation at 9:30 u.k. time. next, ready for liftoff. if you are traveling, you will want to keep an eye on your flights. liftoff.ect of a bets are mounting for a december fed hike. we take a look at the odds of the 2015 hike. ♪ >> there is a global agreement to recommended to g-20 leaders. this is the defining moment in unlocking a too big to fail for individual institutions. having the capital structure agreed, even have to go through several years where banks will try to be consistent. it is when you get to the end of that process, the next few years, that you are in a position where you inc. you can result one of these instit

look at a chart of portugal. we have some portuguese data out today. as you can see right here, portuguese data quarter on quarter fell to 0%. they were looking for 0.4%, so this is a big disappointment. the other thing in portugal, political strife, stability of the government. so here we have a chart of german-portugal 10 year spreads. it has been inching up higher. the gap, the price portugal has to pay to borrow money relative to germany it is at its highest level in four months, so uncertain government and weak growth, back to the troubles we have seen in the eurozone. >> this is the commodity spectrum. i asked you what will stop the slide. goldman sachs said only a substantial rise in chinese demand is likely to be sufficient to balance the copper and aluminum markets. industrial metals are down to their lowest levels in 5-6 years. the selloff is not confined to industrial metals. look at the bloomberg commodities index, the lowest level since 1999. commodities from the index down by 20%. the worst performer is nickel, 38% lower this year. crude is down 24%. gold isn't ev

five more minutes. have are other places that tried different approaches. i will throw out portugal where basically drugs have been decriminalized. if someone is essentially cut with different circumstances, including heroin, they are steered towards treatment. correct me if that is not right. > what they do in portugal is you get assessed to see if you need treatment, but the vast majority do not need treatment. they may get a fine, or they may get a warning, but the vast majority do not need treatment. the same is true in the czech republic. for our discussion, since we are talking about heroin, we should .hink about the swiss i spent the last three months studying heroin in heroin clinics, where they actually gave heroin to people in the clinics. they go to work, take care of their families. >> this is something that happened in this country. >> of course, they are in treatment. >> just to clarify -- >> i don't know why i am here if there's not an addiction problem. there is a vast majority of people addicted to this drug, and a vast majority of people addicted to pharmaceuticals

tried different approaches to drug use and drug enforcement. i will throw out portugal. i'm sure all of you guys heard about this and talked about it. i will grossly generalized basically, drugs had been decriminalized and they are not legal, but decriminalized. if someone is essentially caught in certain -- certain circumstances with drugs including heroin, they are steered toward treatment. correct me if that is wrong. >> that is not entirely what they do in portugal is you get assessed to see if you need treatment. the vast majority do not. they may get a fine or they may just get a warning. the vast majority do not need treatment. true in the czech republic. they are doing the same sort of thing. for our discussion since we're talking about opiates and heroin, we should probably think about this swiss. i spent the last three months in and heroin in geneva clinics where they actually administered heroin to heroin part of theda -- as treatment. a large percentage of those people come twice a day for their heroin and then they go to work and take care of the family's and do all of thes

next, portugal's government is toppled six weeks after the election. lisbon,ive in looking at how this could topple the bond market. when we come back. ♪ anna: welcome back. time in london is 21 minutes past 6:00. here are the stories you need to know. closed whenever an agreement to of the jointr venture for about $12 billion. that is according to a person familiar with the discussion. the deal would lift one major obstacle for inbev. takeover,6 billion that is ahead of the 5:00 p.m. deadline for the agreement. lufthansa has lost a court bid to end the strike. forcing the airline to cancel nearly 1000 flights today. union callsn crew for three more days of strikes through friday, saying it was considering lengthening the walkout. 100,000 customers will be affected today. portugal's prime minister is been forced froom power, less than six months after the election. the socialist formed a majority to reject his plan. the socialist leader antonio back someges to roll of the austerity measures. let us get more on that. joining us now from lisbon, good to have you on the program. on the

trouble. >> i will take a look at a chart of portugal. we have some portuguese data out today. as you can see, quarter on quarter, portuguese data fell to 0%. there is a big disappointment. the other thing in portugal, political strife, stability of the government. here we have a chart of german-portugal 10 year spreads. it has been headed higher. it is at its highest level in four months, so uncertain government and we growth, back to trouble. >> this is the commodity spectrum. i asked you what will stop the .lide goldman sachs said only a substantial rise in chinese demand will be sufficient to balance the copper and aluminum markets. thestrial metals are at lowest levels in 5-6 years. the selloff is not confined to industrial metals. the bloomberg commodities index is at its lowest level since 1999. commodities from the index down by 20%. the worst performer is nickel, 38% lower. crude is down 24%. gold has fallen to a 2010 low. there is only one commodity that has risen, cotton, up by 2.9%. >> that is it for "bloomberg best" this week. you can always get more business news at

a broken record -- the eurozone data. u.s., portugal the worst-performing and bond yields for the month. we are still waiting for the president to announce the next were to get his administration. i see you in about 40 minutes. europeane you for the close, mark. mark barton did. abigail doolittle has the latest on cisco, which is also in the red today. right, betty.'s shares are significantly off after they missed revenue themate and guided down second quarter and full year. the company is blaming this on weaker global and economic growth and a strong u.s. dollar. robinson says it is weakness from a macro perspective. they were flat on the year. now they are down 5% and the stock is having his worst day in tw's. cisco fallout -- electronics, the company received at least 5% of its revenue from cisco. that weakness was not priced into their shares. one saving grace, however, could be the fact that flextronics trades at a discount to its group. they: abigail doolittle at nasdaq. retail sales numbers out this morning, not great. for this coming black friday, one of the biggest player

% . that is after stronger-than-expected payroll data. portugal's socialist party approves a plan to join forces with other left wing parties to oust the prime minister. the administration is just two weeks old. we are talking about an anti-austerity coalition. apache worth more than $18 billion has solicited a takeover approach. the houston-based company is said to have rejected the offer, working with goldman sachs. we don't know who was behind the offer. today haszil prosecutors seek to suspend licenses for the iron ore venture in compensation for the .ictims after two dams burst deutsche bank says cleanup costs could exceed $1 billion. bhp shares down. let's talk about china. dropped to the lowest level in almost three weeks after exports fell. it exceeded estimates of all 31 economists. let's speak to our beijing bureau chief. yet: what this data is the thomas? signsre are a couple of that are cause for concern. the figure you mentioned, everybody thought exports and imports would be better. that's just that the government is consistently overestimating how well the chinese econ

military buildup. we have more from portugal where nato forces are involved in a major exercise. >> reporter: the weary march of those fleeing the fighting has convinced them something must be done about the war in syria, but the battle field is more complex with the arrival of russia testing the borders of turkey while supporting the assad government. >> we are concerned about the russian military buildup and also about the violations of turkish air space we have seen. >> reporter: what are you prepared to do about it? >> as a general message, nato is always ready to protect all allies against any threat, and that's, of course, valid for turkey. >> reporter: nato used the most extensive war games in year to demonstrate the strenlt and willingness to protect one of its own. for nato, this is an exercise in deterrence, but russia isn't playing games anymore. it's engaged in syria, and as the secretary-general noted, building up forces from the black sea to the mediterranean. with the military capabilities of both nato and russia separately on this plane now, the possibility looms

massive drill in southern europe. we have more from southern portugal. >> the weary match of those fleeing the fighting has convinced many nato members that something must be done about the war in syria. the battlefield that become more complex with the arrival of russia, testing the borders of nato member turkey while supporting the assad government. >> we are concerned about russian military and also about the violations of turkish air space. >> what are you prepared to do about it? >> as a general message, nato is already ready to protect against any threat and that of course also is valid for turkey. >> nato has used its most extensive war games in years to demonstrate the alliances strength and willingness to protect one of its own. for nato, this is an exercise in deterrence, but russia isn't playing games anymore. it's engaged in syria and as the secretary general notes, building up the presence in the black sea. >> the possibility looms of a catastrophic confrontation, but it is possible they could become partners, working together to end the war in syria? >> important now

look at portugal, betty. we could, in the next hour, here the government voted out of power. we will have that for you on the european close if and when that happens. number,story out of french industry expected to be strengthening in december. to corporateg news, you had vodafone out and they have something to brag about. how does the stock react? this?how about up by 4.1%. the biggest mobile phone carrier by customers, betty. this is the money it gets from customer plans and traffic on the network. it got a re-boost -- it got a boost from demand in europe. it is a real needed boost for the company. remember less than two months ago, talks with liberty global dissipated. it was jilted at the altar, betty. great metaphor and perfect timing, mark. i know we will have much more on the european close. let's check in on the bloomberg first ward news. courtney donohoe as more from our news desk. courtney: -- courtney: is round four of the republican presidential debates. in carson will lead the field from milwaukee. -- ben carson will leave the field from milwaukee. the main amount -

legal action against the soldiers. >> portugal is in turmoil after a leftwing coalition opposition topple the the government seven is a after it was sworn in. the newly formed alliance came together to out outthe government after declaring their unhappiness at strict austerity measures. the government lost majority in last month's elections. portugal is recovering economically and received $87 billion in bailouts in exchange for that austerity program. >> slovenia is to build a fence on its border to croatia in order to control migrants. it says it will direct refugee flow rather than stop it. 170,000 have crossed into slovenia since mid october when hungary sealed its southern border. >> turkey's hopes of joining the europe union have been weakened by a critical e.u. report. it says the judiciary has been undermind and freedom of expression has been curtailed. turkey rejected the report as unfair. many turks already believe they may never be allowed to join the e.u. >> too big, too poor, too muslim, the words of a former e.u. commissioner just before turkey entered into formal tal

evidence of that. in the places where it is legal, look at holland and portugal. holland weed is legal, portugal criminalized all drugs. unicef in a survey, 2013, they ask kids 11 and 13 years old and 15 years old, 22% of the americans used weed. smoked weed or vaped. in holland, 17% where it's legal. portugal 10%. fewer kids use it. they took the cool out. >> it really depends what numbers you're looking at. you mentioned 11 and up to 15-year-olds. when you look at vulnerable age, 17, 18, 19, 20, youths tripled in the netherland's front in 1988 to 1996 from 15% to 44% among that age group. that's what we're concerned about. the industries are -- john: when it was first legalized. >> over a decade. john: then it went back down again after the cool wore off? >> not for the vulnerable. statistics you were sharing were for younger users, the concern is not the 13 and 14-year-old, the concern is the 17, 18, 19, 20-year-old, they are addicted life long users, they know they have to target you to have the constant source of revenue for themselves. that's what we're concerned about. john: did

during the course of the week. in portugal, down almost 4%. over the weekend, you may have read the four socialist groupings in portugal have come together to oust this man, petro quolo who was sworn in after winning the october 4th election without actually a majority to govern. the socialists are less market friendly. they want to reverse salary and pension cuts. some of the communists would like to restructure the debt. so on and so forth. it's not immediately obvious what will happen tomorrow when they have this vote in the lisbon parliament. portugal is clearly in play and the market is reacting. meantime, let me take you to brussels. where eurozone finance ministers are meeting. and it would appear they are now prepared to start withholding cash to greece because it is not meeting what they call the milestones. the 50 measures they have to pass in order to be in sympathy with the previous agreements. specifically, there's a problem with people not having their houses repossessed when they don't pay their mortgages in greece. the bigger question is whether the bank recapization

being barred from the presidency. >> parliament rejects austerity policies in portugal. >>> all the sport including the latest on the growing corruption crise involving german football over bribes for votes to host the 2006 world cup. >>> we're making progress but still have a huge amount of hard work ahead of us. those are the words of the french foreign minister as his country prepares to host some of the most important climate talks in recent times. before that summit against in three weeks, foreign ministers from around the world tried to settle on a deal beleapt, the aim to limit global warming to two degrees celsius, scientists say anything above that will have irreversible consequences across the world. greenhouse gases in the atmosphere have reached a new high, warning the resulting climate change is already moving the world into unchartered territory. we have a report from paris. >> the goal of the climate summit in paris is to fix a limit for global warming, no more than two degrees celsius high are than temperatures before the industrial revolution. currently, the planet

different approaches to drug use and drug enforcement. i will throw out portugal. i'm sure all of you guys heard about this and talked about it. i will grossly generalized basically, drugs had been decriminalized and they are not legal, but decriminalized. if someone is essentially caught in certain -- certain circumstances with drugs including heroin, they are steered toward treatment. correct me if that is wrong. dr. hart: that is not entirely right. what they do in portugal is you get assessed to see if you need treatment. the vast majority do not. they may get a fine or they may just get a warning. the vast majority do not need treatment. the same is true in the czech republic. they are doing the same sort of thing. for our discussion since we're talking about opiates and heroin, we should probably think about this swiss. i spent the last three months in virginia -- in geneva and heroin clinics where they actually administered heroin to heroin addicts, that's part of their treatment. a large percentage of those people come twice a day for their heroin and then they go to work and take

other food taste better. there's reasons people wanted it so much. there's a buzz. portugal had tapped into it, expanding sugar. the crop was developed in south asia and has come west. most european sugar in the middle ages came from the mediterranean. in the 1500s, they take sugar technology and expanded even further to the coast of brazil at the bottom of the map. as part of this trade networks, the portuguese had innovated other things. providedding networks a source of labor for sugar growth. not the only source of labor, but an important one. this is what happens to sugar between 1500 and 1600, the slow expansion through the portuguese trade networks. expanded and innovated and invested in sugar and developed a basic set of techniques, improved upon older techniques. improved in terms of production capacity. the system they developed, this is a later image which shows the basic technologies they had developed. hopefully, looking at this, you are getting a sense that growing sugarcane is one thing, but making sugar is another. to take the raw cane juice that grows in sugarca

the last europe the web summit in the irish capital. the capital of portugal has won the right to host the mega event in technology. surfing, cable cars, and golden bridge is. >> it's pretty common every week to go surfing every morning. a surf hour in the morning before work. >> in lisbon, the portuguese capital looks a lot like san francisco and is starting to act like it. i worked in san francisco and i see lisbon as a beginning of that. i see a lot of similarities, the inner yet the people in both. >> tech startups are expanding quickly, raising millions, and shared workspaces are adding to the growing business. >> a lot of people are coming to portugal from other countries. we are seeing all the infrastructure thrive in the center of lisbon to accommodate that. tiny when compared to its american idol. a tremendous gap in maturity and these two hubs. i do believe lisbon can be one of the channels bridging europe to the u.s. >> next year, international tech lovers will descend on the city for web summit 2016. going thatestment is way. >> even compared with the u.k., it's pretty

miss?" portugal faces a critical credit review tomorrow. it is still considered investment grade. portugal loses this last rating, it would no longer be eligible for the ecb's qe. alix: that would be huge. j.c. penney reporting tomorrow. after macy's and nordstrom's, can j.c. penney hold up? joe: something else to check out. the new redesigned bloomberg markets website at bloomberg.com/markets, the place to go to see all the stories we , youd about an older video can watch what you missed there. it is the number one destination. alix: you don't want to miss that. that is what we call a shameless plug. scarlet: tonight mark: with all due respect to ted cruz and marco rubio, you guys might want to take this thing outside. ♪ mark: in our playlist tonight, the one with the dentist, the dorm at the bridge, but first, no one with a interesting immigration debate. we have been watching marco rubio and ted cruz getting closer to a head on collision. today, we got a glimpse. after throwing some amnesty

buy in the qe program. the reason it can by portugal under the strict interpretation is because of one agency which still have a triple b, whereas the other agencies have below that level. i think that agency will publish on friday. that agency is unlikely, i think, to move extremely quickly as a political response to a political change. that,worth remembering from the point of view of the ecb, and less it gives itself a way, its rules would make it difficult to keep buying bonds in qe if portugal got a downgrade from one more agents the. -- one more agency. i think as the market demonstrates, there is a risk premium but hardly anything calamitous. guy: thank you. they marks one year since ruble was unshackled for the first time in post-soviet history. walk us through the size and scalable we're talking about. >> the russian has fallen about 30% over the last year. that makes it the second worse performer among large emerging market currencies. actually, the brazilian reality only worse performer. the worst performing currency in europe. you may remember, late last year, there was

? >> it's a political crisis in portugal that could get ugly fast and essentially turn into the next greece. a new socialist party campaigning for reduced austerity earlier this week ousted the center right government. the man behind the movement antonio costa, a former may lor of lisbon, has support from the radical left and the hardline communists likely to be portugal's next prime minister. the question is will he come in and reverse the country's economic recovery because, remember, portugal has been seen as one of the more successful stories in europe thanks to a bailout and a reform package that includes tough austerity. rbs says this political uncertainty will likely weigh on portugal's funding costs going forward. in fact, we're already seeing widening yield spreads between portuguese and german sovereign debt, the highest level since july. credit rating agency dbrs which maintained its credit rating at bbb low today says if he derails the fiscal program it may downgrade the country to below investment grade. that could result the ecb kicking out portugal from the program. >>

austerity. there is political uncertainty bringing -- pushing portugal yields. betty: courtney donohoe has more from the news desk. president of the university of missouri has resigned. more than 30 black football players at the school have said they would not play until president tim will quit. they been complaining for months about the way they have been treated on the school's campus. the last official visit to washington, netanyahu was urging congress to defeat the neil -- deal with iran. he is now meeting with president obama. their differences are well-known it, they must work together, obama said. they have not seen each other in a year. onolice officer opened fire a group of americans. americans were wounded and the shooter was killed by police. russia is focused on terrorism at home. speculation is growing that of tom brought down that russian airliner in egypt. that is underlined the thertance of having insurgency under control in russia. russia federation says it will defend itself against allegations of doping by athletes. the track international organization could suspend them

atentado terrorista, ademÁs de mÉxico, estados unidos, francia, portugal y reino unido, los gobiernos de marruecos, tÚnez, rumanÍa, suecia y espaÑa se unen a la lista de paÍses que se encuentran de luto o las vidas que fueron apagadas en la llamada ciudad de las luces. feliz: las campanas de notoriedad doblan en homenaje a camila acudiÓ al lugar del atentado porque sentÍa la urgencia de estar rodeada de gente, hablar de lo que se estÁ viviendo, dice no tener miedo lo repite varias veces tratando de creer en sus palabras, aunque sus manos temblorosas demuestran lo contrario. el individuo necesita ver, confrontar para comprender, asÍ lo explica la psicÓloga amanda sobre la sensaciÓn diaria que genera un hecho como este donde las palabras no alcanzan para describirlo. feliz: usted puede ver este video completo -noticias.com arantxa: esta noche las campanas den otredad replicaron en homenaje a las vÍctimas durante 15 minutos. agÁrrenlo y que me diga dÓnde estÁ mi hijo. israel: ¿quÉ te pasa, mirna? ¿por quÉ hiciste que nos saliÉramos asÍ de la fiesta tan de pr

dinamarca, suecia toma una leve ventaja en el partido. en contra amistoso ante portugal, su mÁxima estrella, cristiano ronaldo no fue convocado para el partido. apareciÓ el capi rusia tocando dentro del Área, ese serÍa el Único tanto del partido, victoria de los rusos.un minuto de silencio por los atentados de francia. clavada, metiÉndose a la cocina como pedro por su casa. una Última oportunidad para entrar en el juego lanzan y nada salen victoriosos 101 a 96. mÁs tarde la victoria al hilo con enfrenta a los mets. soy raÚl delgado, que pases linda tarde. ramÓn: mÁs informaciÓn pero antes un adelanto del clima con mili delgado. mili: todo el tiempo al regresar de la pausa. ♪ las grandes revoluciones surgen de grandes ideas. como la idea de que la salud no es una industria, es una causa. por eso hacemos las cosas de manera diferente. combinamos cuidado de salud y cobertura. y creemos que la prevención es la cura más poderosa. disculpa si no seguimos la corriente. pero pensamos que la corriente debería seguirnos a nosotros. sí, somos rebeldes con una causa: tu salud. ♪ ♪

panic button, police arrive. arrested, 34-year-old pamela tolbert and her boyfriend alfonzo portugal, 38. tolbert a parolee gets a 27-year prison sentence after pleading guilty to aggravated robbery and second-degree assault. portugal pleads guilty to aggravated robbery and is sentenced to 12 years behind bars. essential to the case, the video recorded by security cameras installed by the previous owner after an earlier robbery. >> i think it would have been difficult to get a true understanding of what occurred or what the assailants had actually attempted to do with the bartender until we saw that footage and saw what occurred. >> the two customers who fled the scene are not charged. lucky for t.j. his stab wound is superficial. no stitches necessary. but the blow from the pool cue requires 13. >> i think t.j. is lucky to be alive after this. >> t.j. has no regrets about fighting back. >> when things that are valuable to you are threaten, i think just about anybody would be amazed at what they can do to defend those things. >> for t.j., the assault is a life-changing event. within

because there is interesting action happening in portugal. remember a month ago there was an election and it was going to be really boring because the incumbent party was going to win? i guess that is kind of wrong. everybody thought it would be wrong. out the coalition of socialist and communist parties were able to put enough votes together to out stem -- oust him. of loosely there will be less eagerness to comply with austerity. here is a chart of portugal versus spanish stock. -- obviously there will be less eagerness to comply with austerity. scarlet: all right, for my deep, eating uphave been retail for a well. this is the s&p department store index. kohl's.nordstrom's, it hast three months, fallen by 25%. we did get a little bit of a tick higher. this gives you an idea of sentiment as the companies report earnings later this week. joe: can you blow that up? i want to see what that looks like. scarlet: yeah. joe: out of curiosity. scarlet: there we go. joe: that's pretty ugly. scarlet: we are going all the way back to levels seen in late 2013, and before that 2007. a long ride, but

of strikes and said it was considering lengthening walkouts. portugal's prime minister has thanforced from power less six weeks after winning the general election. loc socialist left b formed a majority to push through a motion rejecting the plan. the socialist leader has pledged to rollback austerity measures. china's industrial output slowed in october, matching the weakest gains since the global credit crisis. retail sales defied the trend, rising more than economists forecast. old growth engines falter. what have we got next for you on "the pulse?" it is singles day in china. time to get shopping. it was nearly five times bigger than america's cyber monday. so passe. that was last year. we will look at the records and break down the event helping china rebalance. and we will be watching the bank of england today. governor mark carney is set to speak this hour. that follows mario draghi. 1:15 p.m. the last time that man was in time, he saved the euro. ♪ manus: welcome back. this is "the pulse." tv andlive on bloomberg radio, and streaming on bloomberg.com. mark carney

political uncertainty in portugal where the prime minister was ousted just six weeks after his election win so that's rallying the bond markets there. the ten year bund yield at 63.9 basis points. european stock markets this morning, they are higher. we are up by roughly 0.8% for the stoxx 600. the ftse 100 0.8%. so recooping some of the losses that we saw in the first part of the week and the ftse mib up by .1%. we did see the massive impairments in russia and china and the u.k. for example but analysts like the fact that this is kitchen sinking. >> still to come on the program, in the face of growing criticism at home, the indian prime minister is heading right here to the u.k. we'll preview the business deals likely to emerge from modi's visit to the united kingdom. >>> they outline $12 billion in asset disposals. >> carlsberg gets it's fizz back as investors cheer it's restructuring plan and we'll speak to the ceo about the challenging it's still facing when it comes to russia and in china. >> a $10 billion day. china's singles day shopg frenzy helps alibaba soar past last

, shareholders, and communities. i think in some of the smaller countries like portugal and chile, we are already there. we want to be there in many more markets. we define "best" as i said, not just for our shareholders but for all of our stakeholders. francine: thank you so much, ana botin, for speaking with bloomberg. ana: thank you so much. ♪ we live in a pick and choose world. love or like? naughty or nice? calm or bright? but at bedtime ... why settle for this? enter sleep number. don't miss the ultimate sleep number week going on now! sleepiq technology tells you how you slept and what adjustments you can make. she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! give the gift of amazing sleep, only at a sleep number store. this week only, save 50% on the ultimate limited edition bed. hurry, sale ends monday. know better sleep with sleep number. ♪ >> africa is a continent rich with opportunity, and when business and communities come together, its astonishing potential begins to be felt. with the sustainable development goals steering these

smaller countries like portugal and chile, we are already there. we want to be there in many more of our 10 core markets. we define "best" as i said, not just for our shareholders but for all of our stakeholders. francine: thank you so much, ana botin, for speaking with bloomberg. ana: thank you so much. ♪ we live in a pick and choose world. love or like? naughty or nice? calm or bright? but at bedtime ...why settle for this? enter sleep number. don't miss the semiannual sale going on now! sleepiq technology tells you how you slept and what adjustments you can make. she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! gift the best sleep of your life to your whole family. only at a sleep number store. right now save $500 on the veteran's day special edition mattress with sleepiq technology. know better sleep with sleep number. ♪ emily: xiaomi may be a new kid on the block, but it is no longer so little. at five years old, xiaomi rivals apple and samsung in the chinese smartphone market and is valued at $45 billion. worldwide it is not a household

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. >>> this story just coming in to us now. politicians in portugal's left-wing alliance have forced the center right minority government to resign by rejecting its austerity policies. >>> the former british soldier has been arrested in relation to the so-called bloody sunday killings in northern ireland 43 years ago. the man is the first to be arrested since the start of the investigation in 2012. 13 civilians were killed after british soldiers opened fire an a nationalist demonstration. >>> the former chancellor of west germany has died at his home at age 96. he lead west germany between 1974 and 1982 before the country reunified with the east in 1990. it was under his leadership that the west german economy experienced rapid expansion nchlts >>> dubai air show usually hits the headlines for the billion dollars of dollars in airlines sold. as our correspondent reports the focus this year is on cutting-edge technology, rather than big money deals. >> reporter: after two days here, the order books have been very quiet. two years ago in 2013, it was a record number of orders, $206 billion