tv Bloomberg Daybreak Australia Bloomberg March 25, 2019 6:00pm-7:00pm EDT
haidi: welcome to "daybreak australia." i am haidi stroud-watts. shery: i am shery ahn. sophie: i am sophie kamaruddin. we are counting down to asia's major market open. haidi: here are the top stories we are covering. a rally in treasuries sending yields lower while the dollar retreats. tech stocks leading losses. theresa may bracing to lose control of brexit after conceding she doesn't have the votes to drive her bill through parliament. investigating the investigators, president trump said some people
behind the mueller reports will be looked at. on -- we willwill unpack apple's new range of services including video streaming to rival netflix and amazon and its own credit card. looking at how stocks ended the monday session, fluctuating between gains and losses to end almost where they started. the dow is unchanged. the s&p 500, we saw tech and financial shares leading the losses but consumer industrials were gaining ground. the nasdaq also unchanged at 7637. it was really about the action in the treasury. we saw the yield fall below 2.4% since december 2017 at one point. investors betting the federal reserve will need to cut rates and factoring in recession fears. futures for s&p, upside at the
moment. let's see how we are setting up. sophie: equity futures are signaling gains after the worst day for asian stocks since december. you had japan buried losses, tokyo stocks fell 3%. we saw chinese and hong kong shares flag -- lagging 2%. looking at 1.1% at the start of cash trade. bonds remain in focus after 10 year treasuries broke 2.4% and the stockpile in global bonds where negative yields hit $10 trillion. and seeing kiwi and aussie bond yields continuing to drop at all-time lows. a quick check on the pound as theresa may faces a key vote in the house of commons. looking stable overnight, below the 132 level against the
greenback. some strategists say the pound will rally if lawmakers give themselves a say on what happens with brexit. haidi: we should know what the next step is as lawmakers have gone in to commence the vote. let's get to jessica summers. reporter: president trump and key republicans want investigations into the root of the robert mueller inquiry. they call on the attorney general to appoint a new special counsel to see why the obama administration decided to investigate alleged russian interference and whether it was an excuse to spy on the trump campaign. he said the people would be looked at. there is still no clear result in thailand. both main parties claiming the right to former government and the electoral commission is delaying the full vote until friday. initial results show the anti-military party could win the highest number of seats but the army backed party could take
the most votes nationwide. they could name the next prime minister. the u.s. transportation department is creating a special commission to look into how new aircraft are certified. that is in response to the grounding of the 737 max family. we will look at that growing trend of using employees have playmakers to sign off -- and playmakers to sign off designs. president xi jinping has witnessed the signing of billions of dollars in agreements, including an order of 300 planes from airbus. single aisle and wide-body planes. billion before traditional discounts. it is another blow for boeing, 737 familycow
remains grounded. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am jessica summers. this is bloomberg. theresa may is facing losing control over the brexit process whether -- as the house debates whether to pick up the process. and the business minister has quit prime minister may's government, bringing more turmoil. kathleen hays is watching this for us. rejectedister may those votes over and over again, but now she doesn't have the support to get the third vote into play, this might end up happening. kathleen: they are not voting on all seven but three on the table. what a time theresa may has had great we are seeing live shots
from the house of commons as members file back in. theresa may doesn't have the support for the votes she was saying yesterday would come on tuesday. over the weekend there was talk of that cabinet ministers' revolt. who would take over the prime minister spot? but when they met yesterday, it wasn't discussed. it was about -- how she was going to move ahead, and the cabin ministers lined up to express their preference for these indicative votes and amendments. in the end theresa may left that meeting and spoke to jeremy corbyn. they agreed on nothing. she spoke with the leaders of the democratic unionist party. at only didn't agree, had falling out. by time she got to the house of commons, she admitted she didn't have the votes but still tried to find a way to tell them, my vote is what is going to work.
here is what she said. may: i know the deal is compromised. it seeks to deliver and retrain trust in our democracy while also respecting the concerns of those who voted to remain. but we could be out of the european union in less than two months. there will be no further extensions, no threat to brexit of no threat of a risk deal. that is what the british people voted for and i commend this to the house. of noen: on the issue deal brexit where it first appeared she was taking off the table, then made it clear she wasn't. she said she thought the economy could survive, but in the immediate term it would be difficult. may is on the verge of losing control entirely. haidi: with this news of the
business minister, it makes one of the few minutes to take control of business away of the government much closer when they get to that vote. kathleen: it is hard to keep track because so many of her own ministers have opposed what she is doing. it is not as if she has had a lot of support. someone, referencing the jellyfish in gray suits, who have been around theresa may -- here is the amendment. one of them is jeremy corbyn's option, calling for indicative votes on a range of options including a customs union, a new common market relationship with the e.u. and a second referendum. that is amendment d. this one is from three of her tory colleagues. take control of parliament' agenda for a singles day wednesday and allow the
indicative votes on different , defeated by two votes last time, this one is expected to pass tonight. athird one of course looks -- has been tabled by labor. a former labor secretary requiring parliament to begin an opportunity in the week before a muted no deal brexit to vote on whether the government should go ahead and take the u.k. out of the e.u. or seek further extension to negotiation. this is what they are voting on. one has a great chance of passing, the second one, where they will actually get to take control of the process for a day. where does it leave theresa may? someone said, does it mean i will -- she has lost control of the process. she would seem to have lost party, leadership
as prime minister, but for now there is focused on march 29. the e.u. has offered extensions, but march 29 is the date. haidi: and the european commission is saying there is a prospect of a no deal brexit. it is becoming more likely as the days drag on. we will monitor those events in parliament as the votes go ahead, and bring you any outcome as soon as those become available. taking a look at other top stories, apple looking at a post iphone world with a rival for netflix, moving into gaming and its own credit card. all of the details being revealed. shery: we are joined by john hill to discuss the panic and promise of curve inversions. this is bloomberg. ♪ is is bloomberg. ♪
in newi am shery ahn york. another day of treasury talk, the 10 year treasury sliding, dipping below 2.4%. that put the spread further below zero into negative, which has been a predictor of past recessions. this is a great strategist, and he is with me here in new york. always great to have you with us. not seeing much movement when it markets,the u.s. stock . it is all focused on the u.s. rates market. what is this telling us? >> it is counterintuitive. rates are serving as relief for some major global macro financial pressure that is taking place. especially since the march fomc came in dovish, the market is trying to assess what is the implication of the fed saying they are done with the hiking
cycle. they might be able to pull off another hike in 2020, 2021 but the reality is the narrative is we are done from hiking and the conversation is what about the cut cycle. what three-month inverting really means overnight rates are higher than we expect on average over the next 10 years. topwe are at the terminal of the cycle and going into cuts for the next 10 years. we have the potential to stay there. comes to have stability and u.s. rates, that is over. forhis redefining moments treasuries? >> it is beaten to dust. pointe what is called a lean. markets are trying to decide if we should go higher or lower and yields are staying unchanged we saw some of the lowest volatility in decades. the markets broke in that.
it seems the narrative is now broken to a lower plateau of rates, and we are moving into the time where the cyclical flattening is going to start giving way to a cyclical steepening. one of the things we are telling clients is timing is going to be one of the most important trades of 2019. hold on for a second because we are getting the latest on brexit. we have seen the u.k. parliament voting again. amendment a has passed. we are talking about parliament taking control of the day on wednesday when they will call indicative votes on different brexit options. we are seeing the u.k. parliament forcing votes on alternatives to that brexit deal. the permanent -- we will see new consensus on the plan and lawmakers. now seizing the agenda on the
comments of the government. we have seen prime minister may refusing to deliver what other members vote for, and this indicative vote, the ballot wouldn't be binding, but we have seen the u.k. limit loud and clear, they want those alternatives to be voted on when it comes to the brexit deal. lawmakers seeking a new consensus on that brexit plan. we have seen lawmakers vote on amendment a, and it has passed. we are seeing sterling with a tick up after the vote onnt, forcing that brexit alternatives. we have been calling this amendment a, laid down by tories, closer to the resignation of the business minister, richard harrington. mp's aa is to give broader range of what we are looking at, a second referendum,
--rowing the amended deal let's get back to our guest. is it interesting you are seeing an interesting -- this throws open the door to put a wider range of options, far less moderate than we were a day ago. i agree the potential outcomes are less binary but what this might do is open the door for some type of agreement or deal that would get global markets through this time of deep uncertainty. investors around the world have flagged brexit as a key downside risk that could spark broad financial tightening, liquidity issues and anything that suggests the risk has diminished could be risk positive, growth positive as well as kind of steer things in that direction. --di: is this one of the
seeing this reaction with the global bond market, i want to throw up this chart, looking at negative yielding debt, back to levels we haven't seen in a couple of years now. is this overdone the sense we are seeing issues like brexit and -- all of this is feeding into concerns on global economic growth, or do you see it a structural indicator resort ofnegative yield in and themselves may not but the fact you are seeing more and more fixed income trading with negative interest rates suggests investors are trying to rotate out of equities. it suggests some countries indicated give policy rates and are less likely to get out of that world. ecb,talking about the where the possibility of them
raising rates and continuing on normalization needs to be pushed back significantly. that has corresponded with an increase in negative yield, particularly in europe. hill: all right, john joining us. and breaking news, theresa may losing control of the brexit process, amendment a to hold a vote for a variety of -- this is bloomberg. ♪
it staves off a blackout that would have prevented people from seeing cable channels like the collodion and mtv. tensions have increased in the age of cord cutting as providers try to squeeze more money from a streaking will of survivors. sec musk's battle with the continues. they asked a judge to decide whether the ceo violated his agreement without holding a hearing. the sec is asking he be held in contempt after he tweeted a production forecast that was a approved by the settlement. musk said the sec relies on radical interpretations of the order. chatter, apple has revealed it is all in as a services company among -- a news magazine service, video gaming platform and along with the host of hollywood elites, a high-end
premium video content service to rival amazon and netflix. they also revealed a new credit card and would take payment from of the monthly by ends. the card offers apple pay but can be used anywhere and offers 1% cash back. discuss, anow to blackrock partner who follows apple. lots of excitement but lots of unanswered questions about how much this new service will cost, when we will see these new shows. do these unanswered questions dampen your optimism? >> it is progressing as expected. it is to expand the depth and andh of the apple ecosystem monetize the almost one billion apple iphone user days. emily: let's talk about -- user base.
emily: let's talk about that user base. is it enough to catapult -- oprah said it is a billion devices in your pocket. but people need to get them and then pay more. >> they announced a number of shows that are interesting like winfrey'sprah bookclub, and then more elaborate and high-tech shows, amazing stories by steven spielberg area there is content there that will get people interested and also the ability to watch other content and access other streaming services on that platform makes it more convenient. this new apple credit card ties it all together. in tother brings people the apple ecosystem and becomes more convenient, and people will use their credit card to make purchases in addition to services. eventually you will see some type of phone as a service where you lease the phone and get a
18 or 24 months that includes a warranty and these services. increase thisen of scripture rate with a purchase to iphones. -- subscription rate with a purchase to iphones. shery: with the credit card help? because it is electronic payment on the iphone, the watch and titanium, which gets people interested, a physical card wherever mastercard is accepted, which is globally. there are high-tech features which their target audience like. sachs, into goldman which they are offering high-yielding savings accounts and hopefully they build a future base of customers. there is a lot of moving parts to make this interesting and
appealing to different types of potential customers. haidi: how successful was today's event in positioning apple as a services provider and away from the hardware initiative? >> it is a good start. it is what people expected. i was surprised by the new content, which is interesting. also possibly expensive but they have a user days. the iphone has always been a premium product. the ipads, they are all high-end products, and they appeal to the people who are willing to pay up for the features and reliability of apple products. apple does have one of the largest, most loyal customer bases of any consumer products or grant. -- brand. asly: apple was billing this all access to wall street journal and other magazines.
but the meantime, the wall street ceo said it is only a few articles you will get on this news service and everything else, you will have to pay $20-plus a month for. init could drive increased people that want to subscribe to the full access of the austrian journal, but it is 300 magazines and newspapers. most people digest only little bits of key news stories from different services. that is how people get their news, they like to get it, a large quantity of small doses and go down to things that are of interest. this is for those that have more interest in financial articles. it is in the wall street journal. [please stand by]
so with xfinity mobile i can customize each line for each family member? yup. and since it comes with your internet, you can switch wireless carriers, and save hundreds of dollars a year. are you pullin' my leg? nope. you sure you're not pullin' my leg? i think it's your dog. oh it's him. good call. get the data options you need, and still save hundreds of dollars. do you guys sell other dogs? now that's simple, easy, awesome. customize each line by paying for data by the gig or get unlimited. and now get $250 back when you buy a new samsung galaxy. click, call, or visit a store today.
haidi: it is michael and 30 a.m. in sydney, where markets open in 30 minutes time. certainly looking like a flat open when sidney begins trading. we are awaiting the further they continues as to debate brexit this evening. i am haidi stroud-watts in sydney. shery: you are watching "daybreak australia." let's get to sophie kamaruddin in hong kong for a check on how we are setting up markets. are pointing to gains for some markets in asia after a rough monday that saw the benchmark fall nearly 2%, putting the index on course for the first monthly decline since
december. markets look set to call back some of those losses. because futures looking at a futures looking at again. we are seeing stocks looking little changed, paring the earlier events at the start of cash trade. the kiwi dollar edging slightly higher after beating estimates. the trade estimate for january coming in at the widest since july 2006. we have cable rising as much as .2% in the early asian session, racing against the euro but remaining below monday's high, after the parliament voted to hold a series of votes on brexit alternatives on wednesday, which would be more of a focus for markets. shery: thank you so much. we are hearing from officials
ministers u.k. that have resigned from prime minister may's candidate. rossss thomas -- emma thomas joins us. what does it mean for the brexit process? what it probably means is we are going to be headed towards a period of parliament trying to figure out where there is consensus for brexit. so far, what we have seen, theresa may steel has been read deal has been rejected twice. cannot not rule out that parliament could vote for a second referendum, canceling brexit altogether. we will be seeing votes on the possibility of a new deal brexit. -- no deal brexit. this is a longer extension of the u.k.'s membership in the e.u.
as you just mentioned, some ministers in theresa may's government are quitting. they wanted to vote against her because they are in favor of a softer brexit, so basically, the pound is up. the pound is thinking this is going to be good news as we head for a softer brexit. parliament has failed so far to show where it sees, you know, its consensus and view of brexit and do not rule out we and the week in as much of -- end the week in as much of an impasse. haidi: it seems like we are headed for greater uncertainty. organize any kind of ability to oust theresa may. what is the political future looking like after this? emma: it is very hard to tell, isn't it? for more than a year, we have been saying theresa may has been living on borrowed time. there were coup reports on sunday. by the time of the cabinet
meeting on monday, you know, according to what we heard anyway from the cabinet meeting, no one actually even mentioned her future. parliament is deciding where there is consensus. a softer brexit. perhaps theresa may goes back to more.u. and says they need time and we are looking at an extended process of trying to figure out what brexit would look like. a close, -- of course, no deal brexit has not been taken off the table. would notl option have to have parliament vote for it. a few minutes later, she said, by the way, the only way to avoid or no deal brexit is for parliament to vote for a deal, and so, of course, while the pound is rallying, it is important to point out the risk of a no deal brexit has not
completely been taken off the table. shery: the prime minister has refused to deliver on whatever members of parliament vote for. what is the meaning of the syndicate of votes if they are not relieve winding -- really binding? emma: they are not binding. the recent theresa may said she could not commit to implementing them before hand is she said she did not want to commit to -- she many times ruled out the second referendum. interestingly, on monday evening, she said she stood on a manifesto to take u.k. out of the customs union, the trading block. she said we want to have our own independent trade policy, and slightly raising the possibility that if parliament voted for a much softer brexit, perhaps what comes back on the table is the idea we could be heading for a general election. that is something her brexit secretary raised over the weekend. ross-thomas in
london. just to reiterate, the house of commons voting 329-322 just a few minutes ago to strip the power away. let's bring in the vice president of europe for the albright-stonebridge group. thanks for sticking around with us. what a mess. it was a big day today. as we have just seen, parliament voted to take control over the brexit process, take it back from theresa may. and so, we are headed into a series of indicative votes on wednesday. as we have been discussing, these indicative votes are designed to test whether there is any parliamentary majority for any option, so we will see a number of options put back on the table. all of these options or many of them have been considered in
recent days and have not garnered a parliamentary majority, so it is unclear whether any of the options on wednesday will. but here we are. we will consider these options again on wednesday. haidi: i think when you take a look at the positive reaction immediately following the votes in sterling, there seems to be a school of thought that canvassing all of the options now -- it is messy and uncertain -- but perhaps it could result in some kind of framework that garners greater support them theresa may's own brexit deal. do you think that is likely at this point? sumona: i am not sure that it is. i think you have got the hard-core brexiteers, members of the european research group, who have been fighting for a new deal brexit -- no deal brexit. they are probably strategizing about how they can see that option through. they have got an opening until april 12 to try to get that done. and so, i do not think it is clear that we are headed towards a softer brexit.
now, theresa may keeps putting that on the table as the threat. she is using it as a threat to get members of parliament to vote for her deal or at least that was the plan as of maybe 24 hours ago, so we will see where a end up after wednesday. i don't think it is going to be a smooth path towards a softer brexit. shery: but this vote on by 329-302. winning bill beingwe saw the defeated by only two votes, so it seems that more and more people are against the prime minister right now. so does her brexit deal still have a chance of a third vote? so she washt, planning to bring her brexit deal for a third vote this week. there was a parliamentary question about whether she could bring that same amendment, that's an agreement, to vote had not changed substantially. i think we will wait and see on
wednesday. if there is no clear majority for any of the options put forth during the indicative votes, he may decide she will put the same agreement back to a vote. but you are absolutely right. saw today shows that parliament wants to take control away from the government. they are very frustrated with the government. many people are very frustrated with theresa may's leadership. we could be headed towards a general election in the u.k., in which case, you could see a brexit extension even beyond april 12, if the e.u. decides that is necessary. shery: talking about a general election, if the commons calls for a solution, if the conservatives government from the league -- fundamentally opposes it, is this the only way out of this impasse? sumona: not necessarily. you could see some sort of consensus around an option that is considered on wednesday. mind that just as
there is no parliamentary majority or consent this around , theregle brexit option is no consensus around who would replace theresa may. up with a lot of members of the european research group, hard-core brexiteers over the weekend, they posed -- reportedly posed the question to her, the option to her, saying we will vote for your deal if you resign. youpushed back and said will probably get a softer brexit, which is what you do not want. as of this morning, she convened her cabinet and emerged as the party leader. there is really no clear alternative. in the case of the general election, conservatives fear that you could have a scenario where the opposition leader, jeremy corbyn, somehow prevails. in which case, you are looking at a very different scenario and a completely different set of policies for the country.
for conservatives, any alternative to theresa may they y also fall in the camp of favoring a softer brexit, which is what they don't want. haidi: we saw massive protests take place in london over the weekend, anti-brexit protests. organizers saying around one million people showed up. how significant is this in the sense that do politicians need to take holding a second referendum more seriously given the public backlash? sumona: the protesters we saw over the weekend were really significant. also, last week, you had a petition on the parliament's website that garnered some 5 million signatures, causing the website to crash. i think you are seeing a growing realization and a growing concern by the public about a new deal crash out. -- no deal crash out.
there are certain procedures that need to take place in order for a second referendum to happen. parliament would need to agree to the question being asked. as you can see from the current debate today and over the last few days and headed into the rest of the week, there is really no clear -- it is very difficult for parliament to come to an agreement on anything right now. shery: and the government of prime minister may coming out and saying the vote is a disappointing defeat, citing dangerous precedent. sumona guha, vice president for albright stonebridge. let's get the first word news with jessica summers. south korea may need to boost government spending by $9 billion more than planned to meet president moon's growth forecast. a bloomberg survey of 10 economists says the money should come -- to help the gdp reached to 2.7%.owth of 2.6%
the initial budget is $414 billion, up 9% on the previous year. nations says the powerful storm that raged across southern africa this month has killed more than 700 people. it may have also caused more than $1 billion of damage. it devastated the mozambique port and moved east towards zimbabwe, destroying roads, bridges, and homes in its path. it ruined crops as farmers were preparing to harvest after a drought. goldman sachs says it pays female staff in the u.k. an average half as much per hour as their male colleagues, yet this is an improvement on the wage gap the bank reported a year ago. the difference ballooned to 60 6% for year-end bonuses, although again, it is an improvement on a year earlier. goldman sachs says employees are paid the same for similar roles, but women are often
underrepresented in senior positions. global news, 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am jessica summers. this is bloomberg. haidi: thank you. coming up next on "daybreak australia," investigating the investigators. president trump says people behind the mother inquiry will inquiry willueller be "looked at." this is bloomberg. ♪
shery: welcome back. i am shery ahn in new york. haidi: i am haidi stroud-watts in sydney. you are watching "daybreak australia." trading is getting underway in asia. let's take a look at what is going on with our guest. this mounting concern over global growth seems to be intensifying. definitely. there has definitely been a change in tone in the markets. equities have had this
incredibly strong rally this year. global stock rally. with this inversion in the u.s. know, in bondou yields around the world, investors are starting to question whether these valuations are in fact warranted. valuations on the msci world are back at levels seen during the height of the rally last year. december, we have the lowest multiples since 2013. you also have analyst downgrades . upgrades outpaced since august and that is not looking like it is going to let up. trying --tors are what investors are trying to look out is whether the drop in bond yields is the precursor to a global slowdown that we have been seeing. you do have people saying that, you know, that these inversions that is.s. yield curve
concerning investors might be technical. there is a lot of things investors are trying to work out. i think one thing worth noting are up 11% this quarter. .hat puts them on track we have a few days left. that puts us on track for the best quarter since the first one in 2012. the mood has changed. they are trying to figure out quite a few things. haidi: we are starting to see investors get out of the sort of high-risk. that's right. emerging markets have not been spared. certainly, this flight to safety has impacted some parts of the emerging markets. , indonesian in asia bond yields tumbled yesterday. you had the south korean won and the philippine peso, you know, leading asian emerging-market
currencies and stocks that were with the this rout msci gauge dropped being the most this year. there are concerns out there for emerging-market assets as well. , thank youeea papuc so much. you can find her charts on the gtv library. gtv on your bloomberg. and keyt trump republicans want an investigation into the roots of the mueller inquiry. we are hearing from house democrats formally requesting attorney general bill barr to release the full mueller report. this is just crossing the terminal with the house chairman requesting the mueller report be released. republicans and the president are calling for the attorney general as well to appoint a new special counsel to examine why the obama administration decided
to investigate alleged russian interference in 2016. straight to washington and joe sobczyk. over.ama is not you have republicans in the president wanting an inquiry into how this got started in the first place, and now, you are democrat coming out and as expected wanting to see the full report. where do we go from here? joe: we have the specter of dueling investigations in the republican-controlled senate, investigations into the origins of the russia investigation, ,hich began before the election and was continuing on through that into trump presidency. -- trump'sresidency -- presidency. there are a lot of allegations that the fbi has abused its power in conducting this. you have in the house plans to continue their own
investigations into the trump administration, his businesses, want to get his tax returns, much broader than what the mueller investigation into the game. in the meantime, they also want the full report released. now, there seems to be some at least consensus that everybody wants to see from both sides the full mueller report, but it remains to be seen whether the attorney general will release it without significant reductions national security issues, grand jury testimony, and the like, or whether he will provide yet another more extensive summary of the report, and that is going to be the next big battle that will be going on at the capital. in terms of further or fresh investigations, what can democrats do? joe: they will be looking at the president's businesses. they are also going to be looking into allegations of corruption in the administration
. there are a couple of his cabinet secretaries who resigned under some cloud that they had abused their offices. another big area of investigation for them will be trump's taxes, his inaugural committee, and his campaign and how they used money. there are a lot of different avenues of inquiry. they will continue, i suspect, to look at whether -- what exactly were the contacts between -- any contacts between the trump campaign and the russians who were trying to interfere in the election, to mueller's report or at least the summary we have seen so far, did not fully answer all of the questions that democrats have as this goes forward. so they have got a lot of ground that they want to cover. there are six committees now conducting investigations. shery: joe, inc. is a much for
that, bloomberg congress editor joe sobczyk -- joe, thank you so much for that. bloomberg congress editor, joe sobczyk. become part of the conversation by sending us instant messages during our shows. this is for bloomberg subscribers only. check it out at tv . this is bloomberg. ♪ . this is bloomberg. ♪
shery: let's get a quick check of the latest business flash headlines. struggling jet airways soared in mumbai at the chairman agreed toressure and resign. it marks the end of an era with him widely regarded as the pioneer of the aviation sector. creditors are seeking to overhaul the company. banks are expected to provide immediate funding to keep jets flying. haidi: cathay pacific have agreed to --
they will make a formal announcement later on tuesday although no details of the agreement have been released. they had been under rising pressure. moving into the market could attract budget travelers it does not already served. shery: reports from tokyo say nissan's ceo personally approved the 10 year employment deal for carlos ghosn as chairman emeritus. they cite documents that show a contrast. the paper says it shows nissan would make a lump payment of $40 million after carlos ghosn left the board and provide an annual salary of more than $4 million. haidi: high-profile lawyer -- has been charged with attempting to exhort money from nike, defrauding a bank. the california prosecutors say he stole $1.6 million from a client to cover expenses while
new york investigators are accusing him of telling nike he would cancel a critical news conference if the company would pay up to $25 million. let's get you a preview of market open here in australia. sophie. sophie: sydney stocks are set for a slightly higher open after futures meandered in the wake of monday's one point 1% tumble led by financials. we are keeping an eye on minors -- 1.1% tumble led by financials. we are keeping an eye on miners. heads up, we are keeping an eye on reaction to wesfarmers offer in an all cash deal. the shares have almosthalved -- halved in value. that is an almost 45% premium to the closing price on monday. linus shares are suspended on
comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast.
haidi: larry good morning. i am haidi stroud-watts -- very good morning. i am haidi stroud-watts. shery: i am shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." haidi: out of story this tuesday, theresa may loses control of brexit after conceding she did not have the votes for her unpopular bill. the commons will decide. investigate the investigators. president trump saysompe