oxford economics senior asia economist. you can get a roundup of the stories that you need to know to get your day going in today's edition of daybreak. bloombergs upright -- subscribers, go to dayb , also available on mobile on the bloomberg anywhere app. you can customize your settings so you only get the news on the industry and assets you care about. this is bloomberg. ♪ is bloomberg. ♪ shery: this is "daybreak: asia." i'm shery ahn in new york. paul: i'm paul allen in sydney. let's get a check of the latest business flash headlines. london stock exchange is in talks to buy the financial trading platform resented if any deal expected to be worth the equivalent of $27 billion. they said they will issue shares as part of a transaction with holders receiving just over one third. the sale will be a quick flip for the blackstone consortium that bought a majority stake in refitted it last year. shery: saudi arabia technicals cut a -- had a tough second-quarter, plunging the most in a decade. net income tumbled at 70%

audience the fact that everybody in british government seems like they came from one dorm at eton or oxford or cambridge. would you explain the concentration of the conservative party, the focus of it around eaton. how did this happen? rupert: i think there is a little bit too much focus on this. i think it is a mainly -- mainly a coincidence that we had david cameron, and now after theresa may we obviously have boris johnson. i think that is disproportionate to the relevance of this issue. i think boris johnson is going to be trying very hard as he puts his cabinet together to demonstrate that the conservative party, which is the reality, is actually a much broader party. i think we will see a very diverse cabinet. i think we will see people from a huge range of backgrounds, ethnicities. i think he will take a big step towards making the conservative party look much more like the country it is trying to represent. tom: we see that already. as a foreigner, i see the diversity talked about within the cabinet. rupert, the idea is that boris will delegate authority, that he will delegate decis

for bill kristol go ahead in oxford in oxford. here yeah it's a case of same stuff different day from crystal i'm sorry to say look this is a necessary point of view being put forward it has been put forward individually by a number of people and when you find people as disparate as rand paul and bernie sanders agreeing on american military foreign policy needed to take a backseat to american diplomatic foreign policy and i say that as a diplomat of 26 years experience with the u.s. foreign service then i think something good is blossoming here now if we're still worried about the koch brothers and show us you know half a 1000000 each that's that's a rounding error on their petty cash account sure hey they're not deeply invested here but they're certainly making a point of investing and i think there's a difference ok don you seem to be more of the skeptic on the program react to that . well 1st you know the objective conditions are such that imperial retreat is you know on the agenda of the ceci and trump represents that certainl

in oxford. i'm not particularly worried about the sources of funding i find it interesting that 2 such disparate sources have both decided this is a good idea but that doesn't stop me from thinking that it's a good idea too and looking at the contributors i see in andrew bass of each and there who's very much along my lines of sort of conservative libertarian on a lot of international issues i see parsi from georgetown with whom i agree on almost nothing but the. all idea i would think is to have people of various points of view coming together to discuss these issues and get people outside of their echo chambers that's wonderful don ok i'm going to start throwing some cold war out what water on it here ok you have george soros and his relationship with the atlantic council a very you know that is the mouthpiece of nato it's staunchly anti russian and if you look at the koch brothers they have been supporting this illegal who and venezuela i could go on and on ok so i'm i'm just happy i'm i'm le

for bill kristol go ahead in oxford in oxford. here it's a case of same stuff different day from crystal i'm sorry to say look this is a necessary point of view being put forward and it has been put forward individually by a number of people and when you find people as disparate as rand paul and bernie sanders agreeing on american military foreign policy needed to take a backseat to american diplomatic foreign policy and i say that as a diplomat of 26 years experience with the u.s. foreign service then i think something good is blossoming here now if we're still worried about the koch brothers and show us you know half a 1000000 each that's that's a rounding error on their petty cash account sure they they're not deeply invested here but they're certainly making a point of investing and i think there's a difference ok don you seem to be more of the skeptic on the program react to that . well 1st you know the objective conditions are such that imperial retreat is you know on the agenda of the ceci and trump represents that certainl

books including think tanks and power in foreign policy and foundations of the american century and in oxford we crossed to ted see he is a senior policy consultant and british american security information council retired u.s. diplomat and an expert on strategic intelligence and conflict resolution all right gentlemen crosstalk rules in fact that means you can jump in anytime you want and i always appreciate let me go to london. we were talking before this recording about the novelty of this quincy institute coming into being the media has commented on oh it's obviously because of the who's going to be funding it someone very much to the left and somebody very much to the right before we talk about the principles involved in it what do you think of the idea itself i mean it is coming out against endless war wars that do not need to be started in the 1st place i mean there is a need for it and i'm all for it i raise my hand in agreement we'll talk about what's problematic about it go ahead in london. yeah i think well when i read about it in the last couple of days i it was a surprising devel

in oxford. i'm not particularly worried about the sources of funding i find it interesting that 2 such disparate sources have both decided this is a good idea but that doesn't stop me from thinking that it's a good idea too and looking at the contributors i see in andrew bass of each and there who's very much along my lines of sort of conservative libertarian on a lot of international issues i see parsi from georgetown with whom i agree on almost nothing but the whole idea i would think is to have people of various points of view coming together to discuss these issues and get people outside of their echo chambers that's wonderful e put don ok i'm going to start throwing some cold war or water on it here ok you have george soros in his relationship with the atlantic council a very you know that. is the mouthpiece of nato it's staunchly anti russian and if you look at the koch brothers they have been supporting this illegal who and venezuela i could go on and on ok and so i'm just happy i'm left

books including think tanks and power in foreign policy and foundations of the american century and an oxford we cross to see he is a senior policy consultant and british american security information council retired u.s. diplomat and an expert on strategic intelligence and.

there an oxford economics report out that says we will lose 20 million manufacturing jobs because of robotics. it goes in to how many jobs you lose for -- per robot, 1.6. lower income, you lose 2.2 jobs. is that your experience at your company? drew: it is the opposite. client buys wire forms from india for many years. because we had major investment, about a half million dollars into this one robotics sell, we won the jobs. now rather than the parts being made in india, they are made in baltimore. we bought a stamping press from ohio, a threading machine from ohio, and those factory workers are all hired. we only by our steel from an illinois steel factory. all of these other factories are doing better because of that. that machine is running seven days a week, 24 hours a day and we are shipping those parts to mexico, china, india. that would never have happened unless we had that investment in those robotics. i have employees three shifts a day running that machine. i reject the conventional wisdom. anna: just briefly, you are buying u.s. steel. the price of steel in many markets h

alone among them in portland house on london's oxford street the 2011 un backed libyan intervention came with a un backed libyan asset for use to that meant that any libyan accounts in the u.k. were frozen and according to a report by a government committee the u.k. tax man could be scooping tax from those frozen assets the government said make good that its own $17000000.00 pounds in tax on the frozen libyan assets in the process 3 years h.-m. revenue and customs that the tax man here won't reveal any more than mt and now some british politicians want that tax revenue to be put to good use the deputy head of the northern ireland he party has urged the prime minister to use those $17000000.00 pounds in taxes collected from libyan assets in the u.k. to compensate the victims of libyan backed ira terrorism the prime minister will be aware of. the the long standing problem for justice and compensation by victims show the libyan. terrorism in northern ireland did throughout the u.k. u.s. citizens have been compensated by libyan authorities but the u.k. should not that's unlikely say the. x t