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Nov 1, 2021
11/21
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and europe. but looks like another historical issue causing a big plunge in nomura stock price today. let's get more on china. the stress developers in the country are facing a collective honda bill of $2 billion this month. investors will be watching for any signs of default as they prepare for the biggest shakeout in years. let's get more from rebecca choong wilkins in hong kong. what are we watching out for here? rebecca: there are a few big names to watch for. firms like central china yield estate and kaiser are all in focus and not just on the maturities but on their coupons, as well as with their other kinds of debt, things like commercial bills or abs products also being watched by investors to give potential signs of stress. kaiser in particular makes up such a big chunk of the china offshore dollar bond market. more than half of evergrande dollar bonds even though it is continually smaller in size. elsewhere we are looking very closely at evergrande of course. kathleen: so where would yo
and europe. but looks like another historical issue causing a big plunge in nomura stock price today. let's get more on china. the stress developers in the country are facing a collective honda bill of $2 billion this month. investors will be watching for any signs of default as they prepare for the biggest shakeout in years. let's get more from rebecca choong wilkins in hong kong. what are we watching out for here? rebecca: there are a few big names to watch for. firms like central china yield...
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Oct 31, 2021
10/21
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president trump, and it was reported that you were probably going to become the supreme allied commander in europe, a very important position, and you emerged from that meeting as the projected chairman of the joint chiefs of staff. were you surprised that you got that position rather than the one people thought you were going to get? gen. milley: i knew when i went over there that i was interviewing to be chairman of the joint chiefs and any other position that the president deemed necessary. the first question president trump said to me, the first comment he said was, "you are here to interview to be chairman of the joint chiefs of staff." it was myself, then white house chief of staff kelly, and the president. we had an hour-long conversation. at the end he said thank you very much, and made the offer to have me be his chairman. all of us serve at the pleasure of the president. so whenever you are asked for any duty position, as a soldier, you execute the will of the president. david: so when you become the chairman of the joint chiefs of staff, does your wife call you mr. chairman? your childr
president trump, and it was reported that you were probably going to become the supreme allied commander in europe, a very important position, and you emerged from that meeting as the projected chairman of the joint chiefs of staff. were you surprised that you got that position rather than the one people thought you were going to get? gen. milley: i knew when i went over there that i was interviewing to be chairman of the joint chiefs and any other position that the president deemed necessary....
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Oct 29, 2021
10/21
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., but from europe, so that suggests they are actually looking for talent in places where facebook's name is not as toxic as in the u.s. so that is worrisome if they don't have the talent. second, if they do have the talent, history shows us that it is difficult for a company like meta to divert enough resources to this new thing that is unclear, does not deliver revenues, and clearly has no clear market. another reason why this will be a very difficult road to travel is the business model itself. currently, this company knows how to do one thing. it brings in eyeballs and collects data on those eyeballs and sells advertising. the plan for the meta-verse is to go beyond the advertising model. this is not a leadership team that knows how to do that. emily: let's talk about leadership. i'm curious, do you think mark zuckerberg can still be in charge? >> no, the best thing mark zuckerberg can do is to step down. it is clear that even if he steps down, he will be pulling the strings, because of his ownership stake in the company, but the first thing he can do, even the face of the compan
., but from europe, so that suggests they are actually looking for talent in places where facebook's name is not as toxic as in the u.s. so that is worrisome if they don't have the talent. second, if they do have the talent, history shows us that it is difficult for a company like meta to divert enough resources to this new thing that is unclear, does not deliver revenues, and clearly has no clear market. another reason why this will be a very difficult road to travel is the business model...
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Oct 29, 2021
10/21
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europe is in the midst of an energy crisis. for example, the u.k., terrible scenes to a large extent, a perfect storm when it comes to petrol and gas prices, they are turning to greener energy. is there a risk there is a negative feedback loop in the transition is not being handled well enough, because you can't just flip a switch, move from oil, nor should we overnight, but how then ensuring the transition remain such that we don't have any energy crises going forward? >> that is a good point. in the electricity market and overall the energy market, people tend to be conservative. when something goes wrong, it goes very wrong. you mentioned the u.k. as a recent example. what needs to happen quickly, and it is hard for governments to vocus on -- focus on the long-term energy policy when they don't have a crisis, but not something that can be solved quickly. it is one of the things i have worked with in the government here has worked with. we work with folks around the globe in terms of setting yourself up and looking at how you
europe is in the midst of an energy crisis. for example, the u.k., terrible scenes to a large extent, a perfect storm when it comes to petrol and gas prices, they are turning to greener energy. is there a risk there is a negative feedback loop in the transition is not being handled well enough, because you can't just flip a switch, move from oil, nor should we overnight, but how then ensuring the transition remain such that we don't have any energy crises going forward? >> that is a good...
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Oct 29, 2021
10/21
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but at the same time, western europe was exactly that way. the drought in brazil, the drought in china, it is a wild wide phenomenon -- worldwide phenomenon, and it continues to consume energy in the world is for energy. prickett storm -- the perfect storm so to speak. j.p. morgan chase global head of commodities research, and strategy. coming up, light sciences beat estimate read we will speak exclusively to the ceo on why it is an excited time to be in the space, this is bloomberg. >> this bloomberg markets. i am matt miller with amanda lang. it rose 11% after earnings beat estimates and the company raised its forecast. joining us for an exclusive interview is the ceo. michael, tell us about the drivers of your quarterly earnings in your rates forecast. what is behind it. >> thanks for the opportunity. we have it's from a dismount in her business, we have another quarter of double-digit organic growth, and we evened out our merchants more than a hundred basis points and it continues to generate significant cash flow. all that momentum has e
but at the same time, western europe was exactly that way. the drought in brazil, the drought in china, it is a wild wide phenomenon -- worldwide phenomenon, and it continues to consume energy in the world is for energy. prickett storm -- the perfect storm so to speak. j.p. morgan chase global head of commodities research, and strategy. coming up, light sciences beat estimate read we will speak exclusively to the ceo on why it is an excited time to be in the space, this is bloomberg. >>...
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Oct 29, 2021
10/21
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that 4% inflation figure is for europe. the market does not leave it when she says she will not increase rates next year. this is the breakdown of the markets. i want to show you what europe has been doing. we are almost at a record. focuses on what we saw in the last couple of days. there are about 1% from the record high after 4% in october. i know in terms of the industry groups, we have some of the other ones. we have insurers, zero point 5%. insurance and banks, you will see technology stocks. this is on the back of amazon and apple. we thought this might grow under pressure because they do some of the things that are used in some of these big technology companies. this is a big bank here in the u.k.. they came out same they were disappointed on the fee income. they are worried about some of their markets and how they will perform in the future. the other when we are watching out for is -- they came out with some encouraging figures. this is the maker of ray-ban. i don't know if we will buy sonny's to go anywhere becau
that 4% inflation figure is for europe. the market does not leave it when she says she will not increase rates next year. this is the breakdown of the markets. i want to show you what europe has been doing. we are almost at a record. focuses on what we saw in the last couple of days. there are about 1% from the record high after 4% in october. i know in terms of the industry groups, we have some of the other ones. we have insurers, zero point 5%. insurance and banks, you will see technology...
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Oct 29, 2021
10/21
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that we've seen in asia and europe? you are a huge supplier of natural gas. can you give us insight? pierre: supply and demand can get out of sync. we saw demand decline rapidly last year and increase rapidly this year for natural gas and products and supply cannot adjust as quickly as demand. the markets are rebalancing and we expect they will rebalance over time. we have a great natural gas business in the u.s., australia, and africa and we are well-positioned. we expect the markets to rebalance over time. alix: i'm sure that you knew this question was coming. you have shale wanting to break up the company, the legacy oil and gas business versus lng and the renewable energy business. chevron and axion are going different ways than the shells are in the energy transition. what do you think about calling for the breakup of big oil? pierre: we are in a different place than everyone else in the sector in terms of our track record, returning cash to shareholders, proven capital discipline, the balance sheet and strategy that is clear and consistent on delivering
that we've seen in asia and europe? you are a huge supplier of natural gas. can you give us insight? pierre: supply and demand can get out of sync. we saw demand decline rapidly last year and increase rapidly this year for natural gas and products and supply cannot adjust as quickly as demand. the markets are rebalancing and we expect they will rebalance over time. we have a great natural gas business in the u.s., australia, and africa and we are well-positioned. we expect the markets to...
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Oct 29, 2021
10/21
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united states and europe. third step, come back to some public. otherwise, you render it killing growth. the best response to a crisis is more growth, sustainable growth for all the people. >> we are seeing the bills going through the roof. governments have announced how to ease on households. are you willing to work with russia? >> nuclear energy is one of the best solutions. you should want to be dependent on russia -- that's your choice. that's not my choice. investing more in renewable energy so we can have a mix which makes europe fully independent from the other countries. >> more french, less german at least on energy. >> yes. >> i hope the meeting goes well. thanks so much. tom? >> maria from the embassy of the republic of france in rome. the international relations piles on us, you wonder to weeks from now at the end of scotland what will be accomplished. >> i wonder, i am trying to, but hopefully it will be something that will be a little more concrete. i think was interesting the conversation about supply chain disruptions. what kind of
united states and europe. third step, come back to some public. otherwise, you render it killing growth. the best response to a crisis is more growth, sustainable growth for all the people. >> we are seeing the bills going through the roof. governments have announced how to ease on households. are you willing to work with russia? >> nuclear energy is one of the best solutions. you should want to be dependent on russia -- that's your choice. that's not my choice. investing more in...
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Oct 29, 2021
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francine: you have a pretty big market share in europe. how is it going with covid cases up and in the u.k.? >> we are doing fantastic. we are growing double digits across all of our markets and all of our clusters. not only 2020, but 2019. it is a great market for us. francine: anything on the horizon in terms of, and day? is there anything you are eyeing and which market? >> we are scouting a lot, we are digging a lot. not until they are done. francine: is there a region you want to beef up? a good value to bring into the campari group? >> our thinking remains unchanged. we are looking for premium spirits brands with a high on premises share of business, ideally with strong sales in the u.s. and asia. and obviously, that is not the simplest puzzle to put together. francine: no, i'm sure it is not. i love the asian countries going forward. zero -- a lot of the asian countries are going forward with zero covid tolerance. how does that change your strategy or what kind of drinking dynamics do you see? do people still drink at home? or is th
francine: you have a pretty big market share in europe. how is it going with covid cases up and in the u.k.? >> we are doing fantastic. we are growing double digits across all of our markets and all of our clusters. not only 2020, but 2019. it is a great market for us. francine: anything on the horizon in terms of, and day? is there anything you are eyeing and which market? >> we are scouting a lot, we are digging a lot. not until they are done. francine: is there a region you want...
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Oct 29, 2021
10/21
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this is "bloomberg daybreak: europe." apple and amazon tumble in late trading, sparking fears of an unhappy holiday season. acb hike bets stay alive after mild pushback from the central bank. lagarde says higher inflation will last longer than expected. another earnings bonanza. bnp paribas counts strong growth. >> being distinctively diversified delivered strong growth in the third quarter, and basically confirming the performance which is well above re-pandemic levels. anna: bnp paribas on their numbers. bnp paribas, 2.5 billion euros ahead of what was anticipated. a 900 million euro share buyback program on november 3. the bnp plan, $1 billion a buyback as equities. a 79% jump in equities trading is part of the story. it has been on equity trading we are focused. this is a key area for french banks, and this is the first french bank to report, and a stage is set for others in the sector with strong equities trading. let's get the numbers out of daimler, third quarter ebit, 3.6 billion, another beat against the 3.1 bill
this is "bloomberg daybreak: europe." apple and amazon tumble in late trading, sparking fears of an unhappy holiday season. acb hike bets stay alive after mild pushback from the central bank. lagarde says higher inflation will last longer than expected. another earnings bonanza. bnp paribas counts strong growth. >> being distinctively diversified delivered strong growth in the third quarter, and basically confirming the performance which is well above re-pandemic levels. anna:...
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Oct 29, 2021
10/21
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and europe. david: and i think one of the think they are looking at is the upcoming lunar new year, the restocking they expect to happen ahead of that. we for you know it, we will be up against that. there are three picks on your screen. on top of what already you see, they expect further upside. 24%, 68%, and 140% by the end of next year, respectively on these three names here. yvonne: coming up in the next hour, we will be discussing all these issues with the transport corporation of india. don't miss that interview. volkswagen ceo, meanwhile, says ship supplies should be better in the fourth quarter and improve further. he spoke to bloomberg's matt miller. >> quarter three really was difficult for us. it drove our volume brand into the red numbers. and premium remained quite resilient. the volume brand really suffered a lot. we also prioritized semiconductors towards higher margins. all in all, i think we are happy with the results. and i am sure we have seen the worst. q4 looks better. we sho
and europe. david: and i think one of the think they are looking at is the upcoming lunar new year, the restocking they expect to happen ahead of that. we for you know it, we will be up against that. there are three picks on your screen. on top of what already you see, they expect further upside. 24%, 68%, and 140% by the end of next year, respectively on these three names here. yvonne: coming up in the next hour, we will be discussing all these issues with the transport corporation of india....
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Oct 28, 2021
10/21
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and europe is that the pace of recovery in demand has been weaker in japan. daphne's companies tend not to raise end product prices even when demand recovers. i believe japanese prices will gradually move toward a rising trend as the gap between supply and demand narrows. >> prime minister fumio cushy to -- he/she to -- kishida was regarded as the safe choice, but raises questions going into a general election. juliette saly explains what is at stake. >> japanese prime minister fumio cushy to has only been -- kishida has only been in the position for a month but he has the lowest approval rating for a prime minister since 2008. a major loss of parliamentary seats could weaken the party and send him through the revolving door of japanese leaders. none of japan's many opposition parties have more than single figure support, but several have formed alliances in a bid to win seats. kishida set a modest target for this election to maintain the ruling coalition's majority. missing out on a super majority would prevent him from taking bold action such as constitutio
and europe is that the pace of recovery in demand has been weaker in japan. daphne's companies tend not to raise end product prices even when demand recovers. i believe japanese prices will gradually move toward a rising trend as the gap between supply and demand narrows. >> prime minister fumio cushy to -- he/she to -- kishida was regarded as the safe choice, but raises questions going into a general election. juliette saly explains what is at stake. >> japanese prime minister...
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Oct 28, 2021
10/21
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he now goes to europe for the cop26 climate summit which begins on sunday. china is sticking to its existing climate change targets to zero out admissions and not advancing any of its key targets. that reduces the chances for more ambitious global action at the cop26 summit in glascow. a new report this week warned that without stronger efforts on emissions reductions, the world is on track for a 2.7 degrees celsius temperature rise, and increase that risks catastrophic consequences. 82 countries are at risk of not being able to vaccine at least 40% of their population by the end of this year. uncle the world health organization headset. the problem is a lack of supply. the nations need an additional 550 million doses to meet the vaccination targets. a who senior advisor called it "a very solvable problem." the justice department is promising to crackdown on white-collar crime. prosecutors are looking to roll back the trump administration's lighter touch approach to oversight. it will encourage more cases against senior executives who traditionally have been
he now goes to europe for the cop26 climate summit which begins on sunday. china is sticking to its existing climate change targets to zero out admissions and not advancing any of its key targets. that reduces the chances for more ambitious global action at the cop26 summit in glascow. a new report this week warned that without stronger efforts on emissions reductions, the world is on track for a 2.7 degrees celsius temperature rise, and increase that risks catastrophic consequences. 82...
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Oct 28, 2021
10/21
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you see selling across the board in europe. here was to have selling in the long end, but a little bit of buying in the front end. a teeny bit of a reversal there within the bond market. it does feel that the path of least resistance might be higher yields, but no doubt, there is really weird stuff happening in the bond market. francine: there is weird stuff because it is repricing, not on the back of much. i have a note saying there was nothing new in the ecb in the october statement, and yet you can see a little bit of movement on the euro-dollar, $1.1681. when it comes to stocks, it is all about earnings. anheuser-busch and nokia following the sentiment because they came in with estimates that beat. we have a couple of m&a. one thing i am looking at the downside is royal dutch shell. the ecb keeping monetary policy loose, and the president christine lagarde facing pressure to push back on markets petitions that the ecb will need to start tightening like other central banks. she spoke about the decision to keep stimulus on tr
you see selling across the board in europe. here was to have selling in the long end, but a little bit of buying in the front end. a teeny bit of a reversal there within the bond market. it does feel that the path of least resistance might be higher yields, but no doubt, there is really weird stuff happening in the bond market. francine: there is weird stuff because it is repricing, not on the back of much. i have a note saying there was nothing new in the ecb in the october statement, and yet...
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Oct 28, 2021
10/21
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for europe. the real mover here is btp's and bunds. it is inverted, the 20-30. why? i have no idea. is it technical? is something going on with the 20 year? or is this portending something not so great within the economy? so keep your eye on that, francine. francine: we are also getting a little bit of data at this time of day because you can see at have an impact on lot of the yields. it goes back to inflation, the strength of the u.s. economy. because it is september, it is a little bit backward looking. however, they spawned 72 point sent -- 7.2% compared to the previous year. it is a little bit backward looking. we did see a bit of weakness for the month of august and september. u.s. mortgage rates also jumping to 3.1%. i know we will have a full breakdown with michael mckee. alix: this is usually when i say something like, yeah, i got my 30 year at 2.75%, and guy would make fun of me. we want to focus on d.c. president biden currently on capitol hill, speaking to house democrats, poised to a
for europe. the real mover here is btp's and bunds. it is inverted, the 20-30. why? i have no idea. is it technical? is something going on with the 20 year? or is this portending something not so great within the economy? so keep your eye on that, francine. francine: we are also getting a little bit of data at this time of day because you can see at have an impact on lot of the yields. it goes back to inflation, the strength of the u.s. economy. because it is september, it is a little bit...
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Oct 28, 2021
10/21
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you know, you talked about it at the top of the show, about how much is getting priced and in europe and in the u.s. as well. we have two hikes priced in now for the u.s. after this round of tightening in the market over the last week or two. so weaker data actually pushes out that scenario, and we know that policy has been a big driver of asset prices. lisa: hold on a second. this is really key. are you saying we are still in an environment where bad news is good news in terms of markets? lee: yes, the longer we get the policy support, the better for markets. as long as the economy is not going into recession or disastrous, but if we are going on the right path but at a slower pace, which means the policy support persists for longer, still positive for markets overall because of more policy support. kailey: what you are seeing in the bond market is the anticipation that policy support will not persist for longer. it has already started in some places. the equity market is still resilient. is that not a mismatch? lee: yes, there's no doubt there's a lot of mismatches going on at the
you know, you talked about it at the top of the show, about how much is getting priced and in europe and in the u.s. as well. we have two hikes priced in now for the u.s. after this round of tightening in the market over the last week or two. so weaker data actually pushes out that scenario, and we know that policy has been a big driver of asset prices. lisa: hold on a second. this is really key. are you saying we are still in an environment where bad news is good news in terms of markets? lee:...
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Oct 28, 2021
10/21
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what would he be speaking today if you weren't leaving for europe? hard to say. lisa: hard to say, or no. this is the issue, all of these false deadlines that have been created. kailey brought up the progressive wing. does it at the senate, does it get the house to a vote on bipartisan infrastructure, which really a lot of people say is the main goal heading into year end right now? josh: and heading into this weekend, where funding measures are set to expire if there is no deal on infrastructure. at last count, no. progressive has said they will not take they will take a framework or deal in lieu of an actual vote, and they are not going to let the house bill go forward on that interceptor bill until they do, so right now, these two are locked in tandem. whether they both get off the ground remains unclear, but biden will try to give it a boost today. lisa: to dovetail this into the question of the audience president biden is speaking to, there is the domestic audience and the international audience as well heading into g20. is the united states united? how much
what would he be speaking today if you weren't leaving for europe? hard to say. lisa: hard to say, or no. this is the issue, all of these false deadlines that have been created. kailey brought up the progressive wing. does it at the senate, does it get the house to a vote on bipartisan infrastructure, which really a lot of people say is the main goal heading into year end right now? josh: and heading into this weekend, where funding measures are set to expire if there is no deal on...
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Oct 28, 2021
10/21
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supply chain in europe. the second thing is the labor market the other element of the inflation equation. the labor market has been quite sluggish. they were asking for 5% rate and it looks like it may not go through. you've got a lot less pressure in the ecb, the economy came out behind the u.s.. they will watch with the fed is doing. >> talking of inflation into labor pressures, we have caterpillar earnings crossing the terminal. they beat it by 2%. i'm looking through the press release and they talk about manufacturing cost because of higher labor costs, higher material costs. they were able to offset that or withstand it to some degree. have we grossly underestimated the ability of companies to do that? >> i think that is a company by company decision. you have rising costs on one side and i think we are overly focused on those rising costs. companies can handle rising costs. i think that's what you are seeing with caterpillar. they had those rising costs. what construction worker doesn't want to have a
supply chain in europe. the second thing is the labor market the other element of the inflation equation. the labor market has been quite sluggish. they were asking for 5% rate and it looks like it may not go through. you've got a lot less pressure in the ecb, the economy came out behind the u.s.. they will watch with the fed is doing. >> talking of inflation into labor pressures, we have caterpillar earnings crossing the terminal. they beat it by 2%. i'm looking through the press release...
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Oct 28, 2021
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stocks europe 600 is flat. joining us now is a member of our fx team. we are going to talk to that yield and yield flattening. demand on the long, selloff on the short end, is the bond market getting this right? >> they are reacting to what we are seeing. whether they are proven right is another story. we will probably not see that until much later when we get a full picture of inflation in the economy. i think that this curve is below, it does bring up past worries about the yield curve that we have seen before. less optimism in the economy, worries about long-term growth. what these rate hikes are going to do, longer-term even if shorter-term people are expecting them. inflation is more intent -- entrenched. markets are expecting policymakers to do something about that. francine: traders are now betting on basis points were rate hikes. it feels like a four-time away, but it is significant. >> it -- absolutely. the ecb is one of the more dovish central banks. they are very much emphasizing the prevailing purchase program. just a few weeks ago, we had s
stocks europe 600 is flat. joining us now is a member of our fx team. we are going to talk to that yield and yield flattening. demand on the long, selloff on the short end, is the bond market getting this right? >> they are reacting to what we are seeing. whether they are proven right is another story. we will probably not see that until much later when we get a full picture of inflation in the economy. i think that this curve is below, it does bring up past worries about the yield curve...
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Oct 28, 2021
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it is easier in europe. we are a science-based company, so we don't only hire software engineer people, we hire surgeons, biologists. this dynamic is a quite interesting dynamic. you are right. even in china today, or in india. anna: thank you so much. good to speak to you. bernard charles talking about the transformation he sees with new materials, new processes coming to manufacturing. thank you for giving us your thoughts. coming up, a growth warning. bond curves flan from the u.s. to australia as markets increasingly factor in policy normalization. we have that for you next. this is bloomberg. ♪ anna: welcome back. i'm anna edwards in london. slipping in the afternoon session in asia. annabelle droulers has more details. >> it has been fairly risk off in asia. led lower by the nikkei in japan. a sub index of minus, leading up around 4%. in china, concerns around a crackdown on private enterprise. also perennial problems in the property sector. concerns evergrande can face default. we do have the kospi,
it is easier in europe. we are a science-based company, so we don't only hire software engineer people, we hire surgeons, biologists. this dynamic is a quite interesting dynamic. you are right. even in china today, or in india. anna: thank you so much. good to speak to you. bernard charles talking about the transformation he sees with new materials, new processes coming to manufacturing. thank you for giving us your thoughts. coming up, a growth warning. bond curves flan from the u.s. to...
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Oct 28, 2021
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that has kept europe dominating our top 10 for october. ireland does not number one, spain is number two. the nordic countries populate the rest. norway, denmark, finland is doing well at reopening, but does it in a way that is not leading to huge outbreaks. but europe is facing down another winter and we are starting to see cases and deaths picking up again in eastern europe, which could not bode well for the top rankings. shery: what happened to singapore? >> this was former number one and now ranked 13. the biggest drop for a former number one in the ranking history, which was started almost a year ago. it is in the middle of a very painful transition, moving away from the covid zero and targeting no cases and keeping everything closed, starting to open the borders and trying to ease restrictions internally. that is leading to an uptick in cases and deaths. they had just 29 deaths all of last year. it is now 349 deaths. we are seeing some pressure on a very well resourced hospital system in singapore. but the fact that they are pulling
that has kept europe dominating our top 10 for october. ireland does not number one, spain is number two. the nordic countries populate the rest. norway, denmark, finland is doing well at reopening, but does it in a way that is not leading to huge outbreaks. but europe is facing down another winter and we are starting to see cases and deaths picking up again in eastern europe, which could not bode well for the top rankings. shery: what happened to singapore? >> this was former number one...
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Oct 27, 2021
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the move is expected to ease europe's supply crunch. global news 24 hours a day on gloom -- bloomberg quicktake. i'm mark crumpton, this is bloomberg. ♪ amanda: welcome to bloomberg markets. we welcome both our bloomberg audiences. here are the top stories we are following from all around the world. bank of canada accelerates a potential climbing of rates. we give you the market follow. we will talk with ceo of hydro quebec on the plans of providing renewable electricity from canada to new york city. gm shares are tumbling. the company hit by global semi conductor shortage. amanda: that is just one of the stocks that is trading lower on these markets today. interesting day on the markets. we have many of these groups on the s&p 500 in negative territory. you could see it is modestly higher and the nasdaq is the real star. the nasdaq at a record high. powered by the record names -- many names like out this market where it is today. the big tech stocks. microsoft, alphabet is moving sharply higher as well. when we are seeing some compan
the move is expected to ease europe's supply crunch. global news 24 hours a day on gloom -- bloomberg quicktake. i'm mark crumpton, this is bloomberg. ♪ amanda: welcome to bloomberg markets. we welcome both our bloomberg audiences. here are the top stories we are following from all around the world. bank of canada accelerates a potential climbing of rates. we give you the market follow. we will talk with ceo of hydro quebec on the plans of providing renewable electricity from canada to new...
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Oct 27, 2021
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alix: here is everything you need to know from europe at this hour. it is pub time time. alcohol duty rates are cut for lighter drinks. germany's growth scare. the company downgrade its growth cast to 2.6% as the company is squeezed by raw material shortages and rising energy prices. we will speak to christine mcwilliams. analysts say the results from deutsche bank were reasonable while still searching for the growth driver for the bank. in the midst of these headlines, noris moves in the bond market in the u.k., spreading to the u.s. and has now catapulted with the bank of canada being more aggressive with their rate hikes at the front end of the yield. francine: the u.k. budget, a lot of earnings, and inflation concern. central banks around the world will be hawkish. this goes back to supply chains but the bank of canada repricing not only the loonie but a lot of bonds we are seeing across the world. i was looking at the german 10-year yield because it is a little symptomatic of what we heard in germany. downgrading their overall forecast for growth. stoxx 600 down .3%.
alix: here is everything you need to know from europe at this hour. it is pub time time. alcohol duty rates are cut for lighter drinks. germany's growth scare. the company downgrade its growth cast to 2.6% as the company is squeezed by raw material shortages and rising energy prices. we will speak to christine mcwilliams. analysts say the results from deutsche bank were reasonable while still searching for the growth driver for the bank. in the midst of these headlines, noris moves in the bond...
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Oct 27, 2021
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. ♪ alix: here is everything you need to know from europe at this hour. it is pub time time. alcohol duty rates are cut for lighter drinks. germany's growth scare. the company downgrade its growth cast to 2.6% as the company is squeezed by raw material shortages and rising energy prices. we will speak to christine mcwilliams. analysts say the results from deutsche bank were reasonable while still searching for the growth driver for the bank. in the midst of these headlines, noris moves in the bond market in the u.k., spreading to the u.s. and has now catapulted with the bank of canada being
. ♪ alix: here is everything you need to know from europe at this hour. it is pub time time. alcohol duty rates are cut for lighter drinks. germany's growth scare. the company downgrade its growth cast to 2.6% as the company is squeezed by raw material shortages and rising energy prices. we will speak to christine mcwilliams. analysts say the results from deutsche bank were reasonable while still searching for the growth driver for the bank. in the midst of these headlines, noris moves in the...
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Oct 27, 2021
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however, i would suggest that europe and the u.s. are still in two very different positions from this point of view. the recovery started earlier in the u.s. the fiscal stimulus was higher than in europe, which means the output gap in the u.s. is probably close to 0 right now, so that the fed talks about removing qe entirely, find that some members talk about hiking rates, fine, but we are not there in europe. and the risk is that the market tries to create a bucket where every single central bank would find themselves. it is true that inflation is rising everywhere, albeit to a lesser degree in europe, but you can feel the pressure. if someone moves or talks about hiking a rate somewhere, it is creating mood music everywhere. europe is not in a situation where we need to think about that right now. jonathan: we still have central bank like new zealand, like the bank of england. gilles, you are right to point out the ecb. the opportunity to push back is the december meeting. president lagarde called it an important one. permission to
however, i would suggest that europe and the u.s. are still in two very different positions from this point of view. the recovery started earlier in the u.s. the fiscal stimulus was higher than in europe, which means the output gap in the u.s. is probably close to 0 right now, so that the fed talks about removing qe entirely, find that some members talk about hiking rates, fine, but we are not there in europe. and the risk is that the market tries to create a bucket where every single central...
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Oct 27, 2021
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europe has had a huge push and crackdown. it is kind of leading the way which is an attempt to define what esg is an live up to a single set of definitions. we have seen it is catching someone on the wrong side of regulations like dws being investigated in the u.s. and germany. they deny all allegations. they did very well this morning as we saw in the earnings. how to define yet she remains a question. tom: i know you and the team have been looking at this new fund coming from al gore, the former u.s. vice president and the men behind the inconvenient truth, and goldman sachs. what is his fund aiming to do? tasneem: it is more of a venture more than a single fund. while esg needs necessary movement, it has not gone to where we need to be in terms of reining in emissions and keeping warming on track. they are saying impact needs to become mainstream financial investment strategies. it needs to target climate impacts where you link strategy to the 1.5 degree metric. the point is a lot of that requires private market into indus
europe has had a huge push and crackdown. it is kind of leading the way which is an attempt to define what esg is an live up to a single set of definitions. we have seen it is catching someone on the wrong side of regulations like dws being investigated in the u.s. and germany. they deny all allegations. they did very well this morning as we saw in the earnings. how to define yet she remains a question. tom: i know you and the team have been looking at this new fund coming from al gore, the...
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Oct 27, 2021
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welcome to "bloomberg markets europe." deutsche bank holds market shares, but fixed income trading falls. we will bring you our interview with the ceo. mixed results for big tech. cloud computing drives growth at microsoft, but disappointing numbers way on google. investors are on the lookout for
welcome to "bloomberg markets europe." deutsche bank holds market shares, but fixed income trading falls. we will bring you our interview with the ceo. mixed results for big tech. cloud computing drives growth at microsoft, but disappointing numbers way on google. investors are on the lookout for
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Oct 26, 2021
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and europe. investigators seized more than 31.6 million dollars in cash and virtual currency as well as 45 guns. risks related to covid-19 and the economic havoc it has wreaked across the world are keeping corporate execut
and europe. investigators seized more than 31.6 million dollars in cash and virtual currency as well as 45 guns. risks related to covid-19 and the economic havoc it has wreaked across the world are keeping corporate execut
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Oct 26, 2021
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we save the world and world war ii and rebuilt europe on $4.7 trillion. we have spent $5.4 trillion and we will have a heck of a lot more. dani: that was senator joe manchin with david rubinstein. it is interesting to see how the next few days pan out and also we have earnings from alphabet, microsoft and then deutsche bank tomorrow. it has been a really busy 24 hours. dani: we have u.s. durable goods and there is so much out there, a lot that can shakeup the markets. coming up, senator sherrod brown will be joining "balance of power." this is bloomberg. ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an
we save the world and world war ii and rebuilt europe on $4.7 trillion. we have spent $5.4 trillion and we will have a heck of a lot more. dani: that was senator joe manchin with david rubinstein. it is interesting to see how the next few days pan out and also we have earnings from alphabet, microsoft and then deutsche bank tomorrow. it has been a really busy 24 hours. dani: we have u.s. durable goods and there is so much out there, a lot that can shakeup the markets. coming up, senator sherrod...
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Oct 26, 2021
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this is bloomberg. ♪ >> the countdown is on in europe. this is "bloomberg markets: european close," with guy johnson and alix steel. ♪ alix: here's everything you need to know from europe at this hour. ubs crushes on dealmaking. the bank sees a 78% jump in advisory fees and lags its peers and trading revenue. draftkings walks away from a potential $22.4 billion offer for the sports betting firm, throwing cold water on the gambling frenzy. and one hazard lollar -- and one hunted dollar oil prices -- and $100 oil prices. larry fink says we will deal with oil inflation for a long time. i'm alix steel. dani burger is in london. guy dotson is off -- guy johnson is off. the u.s. still concerned about gas prices. they will continue to ta
this is bloomberg. ♪ >> the countdown is on in europe. this is "bloomberg markets: european close," with guy johnson and alix steel. ♪ alix: here's everything you need to know from europe at this hour. ubs crushes on dealmaking. the bank sees a 78% jump in advisory fees and lags its peers and trading revenue. draftkings walks away from a potential $22.4 billion offer for the sports betting firm, throwing cold water on the gambling frenzy. and one hazard lollar -- and one...
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Oct 26, 2021
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jonathan: is that another stop on the tour, from europe to indiana? from new york, this is bloomberg. ♪ ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with a 98% success rate and a more affordable weight-loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. no stimulants, no starving, just results, results you'll keep for life. with over 2 million satisfied customers, golo is the new way to lose weight. go to golo.com and get your life back... -with golo. -golo! jonathan: live from new york city on tv and radio, this is "bloomberg surveillance." i'm jonathan ferro. your equity market is up. yields on the basis point -- earnings from 3m, from ge, and the numbers from them and ups so far so good. that is the equity market story. foreign-exchange -- euro-dollar is unchanged, 0.05%. 8421 -- tom keene in nebraska, 330 on saturday. ask management if we can expense the trip. it will be less than your daily uber's. that is the official response. i thought that was kind.
jonathan: is that another stop on the tour, from europe to indiana? from new york, this is bloomberg. ♪ ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with a 98% success rate and a more affordable weight-loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. no stimulants, no starving, just results, results you'll keep for life. with over 2 million satisfied customers, golo is the new way to lose weight. go...
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Oct 26, 2021
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banks coming over to europe? jonathan: flexible working hours. how many times have we heard that from european players? you can stay at home. it is ok. lisa: and we don't have to pay for real estate. jonathan: it is a massive week for big tech. alphabet your to date up 57%. from new york, this is bloomberg. ♪ laura: with the first word news, i'm laura wright. u.s. and chinese governments have made incremental progress in their economic and trade negotiations. treasury secretary janet yellen and chinese like khmer liu he held their second -- chinese vice premier liu he held their second talks in a few months. senate democrats has moved closer to an agreement on president biden's economic agenda. senator joe manchin expressed optimism there could be a deal this week. he has been pushing to shrink the size of the social spending package. still, some house lawmakers raise doubts about the terms of the deal being discussed. hong kong will soon end most of the quarantine exceptions for overseas and mainline travelers. the city is under pressure from
banks coming over to europe? jonathan: flexible working hours. how many times have we heard that from european players? you can stay at home. it is ok. lisa: and we don't have to pay for real estate. jonathan: it is a massive week for big tech. alphabet your to date up 57%. from new york, this is bloomberg. ♪ laura: with the first word news, i'm laura wright. u.s. and chinese governments have made incremental progress in their economic and trade negotiations. treasury secretary janet yellen...
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Oct 26, 2021
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and in europe. go look at how this is done as a financial etf here versus the bank financial in europe. it's doubled the return. to me i would rather bet on cyclical recovery in the u.s. then on europe. >> the language changes but it's the same. the vogue is gam a squeeze. it's a greek letter for an accelerated second derivative movement in this case up typically. andrew: i'm not smart enough to figure all of that out. [laughter] tom: should we join some form of tesla catharsis will be set us up for the big drop? >> there are stocks that are beloved stocks. i'm very wary to take a market in that picture. if a look at my portfolio stocks , almost every company in our portfolio so far has beaten and raised numbers. i think the earnings fundamental are validating, and i can point to specific stocks. it's a crazy market. and that's true. don't miss out, fundamentals are good. tom: liz and saunders was good on that. tesla is not the market. jonathan: it's just the two of them. thank you sarah as always.
and in europe. go look at how this is done as a financial etf here versus the bank financial in europe. it's doubled the return. to me i would rather bet on cyclical recovery in the u.s. then on europe. >> the language changes but it's the same. the vogue is gam a squeeze. it's a greek letter for an accelerated second derivative movement in this case up typically. andrew: i'm not smart enough to figure all of that out. [laughter] tom: should we join some form of tesla catharsis will be...
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Oct 26, 2021
10/21
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and parts of europe. a study found bitcoin's ownership is still concentrate traited in just a few hands. the top 10,000 individual investors control about 1/3 of the crypto currency in circulation. the biggest 10% of miners control the mining capacity. the u.s. lender said it will continue to provide services for exesing contracts. citi is refocusing its asia presence on singapore, hong kong, the u.a.e. and london. facebook shares gained in late trading. in the earnings, mark zuckerberg called negative pres around facebook a coordinated effort to paint a false picture about the economy. i spoke to one investor and for him it is ewell act the structural shift for online advertising. business that were formerly brick and mortar stores have shifted online. tom: thank you very much indeed. laura wright in london. joining us is our markets reporter. earnings really joining that momentum. more optimism around data that has come out around u.b.s. can this momentum continue on the earnings front? >> exactly, tom.
and parts of europe. a study found bitcoin's ownership is still concentrate traited in just a few hands. the top 10,000 individual investors control about 1/3 of the crypto currency in circulation. the biggest 10% of miners control the mining capacity. the u.s. lender said it will continue to provide services for exesing contracts. citi is refocusing its asia presence on singapore, hong kong, the u.a.e. and london. facebook shares gained in late trading. in the earnings, mark zuckerberg called...
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Oct 26, 2021
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some of the activity data soft engine europe. dani: are we goaght a point where we need to be more worried about consumer sentiment? we have seen only of the readings come in. this is what you need for a recessionary environment. are you at a point where you too are concerned about consumer sentiment? >> we're starting these a little bit across the world. didn't see much of a pick-up in china. you mentioned the u.s. retail sales in the u.k. have been weew months now. we're not seeing huge evidence of that happening. it could be a possibility going forward. dani: i want to ask one more question on the fed. you mentioned the break-even rates as well bumping up to 2.5. at what point do policy makers need to check a their tone in order to accommodate what the markets are doing. at what point do they have to pay more attention? >> i would argue the other side for that, we saw inflation that came on the higher side in the spring and the fed reacted. i would say we will see that reaction, a change from the fed. the fed does worry about
some of the activity data soft engine europe. dani: are we goaght a point where we need to be more worried about consumer sentiment? we have seen only of the readings come in. this is what you need for a recessionary environment. are you at a point where you too are concerned about consumer sentiment? >> we're starting these a little bit across the world. didn't see much of a pick-up in china. you mentioned the u.s. retail sales in the u.k. have been weew months now. we're not seeing huge...
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Oct 26, 2021
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not just in america, but in europe as well. emily: is it something for the rental car companies to do? reporter: i think so. the question is where to get the cars from? other automakers are still selling ev's at a low number. particular for business travelers. maybe their business partners will give them an incentive for the next time they travel. emily: here we are now at a $1 trillion market cap. what does tesla have going for the rest of the year? where does that number go? reporter: up, probably. [laughter] you know, tesla still has risks. like nhtsa is still investigating the autopilot. the ntsb is not happy with a policy recommendation. this is a company now going into several different markets. fleet sales, insurance, energy, factories in berlin and austin. moving the headquarters to texas. emily: we are looking at the chart of facebook and tesla, both at the trillion dollar mark. sort of the tale of companies, the question is, what is big tech? reporter: they just keep expanding like octopuses. emily: what is going on w
not just in america, but in europe as well. emily: is it something for the rental car companies to do? reporter: i think so. the question is where to get the cars from? other automakers are still selling ev's at a low number. particular for business travelers. maybe their business partners will give them an incentive for the next time they travel. emily: here we are now at a $1 trillion market cap. what does tesla have going for the rest of the year? where does that number go? reporter: up,...
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Oct 26, 2021
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they left travel restrictions on people from china, india and much of europe. modern land is the latest chinese developer to miss a payment on a dollar bond. that is according to a filing at the singapore stock exchange. last week they terminated a proposal to extend the bond's maturity by three much. shares have been suspended since last thursday. we are hearing of at least two holders of evergrande's 8.25 dollar notes. the grace period for another payment ends this friday. creditors are bracing for an eventual debt restructuring that could rank among the largest ever in china. australia's crown resorts will be placed under strict government supervision for the next two years after being found unfit to hold its melbourne casino license. an investigation found a litany of wrongdoing including underpaying casino taxes and legally allowing hotel guests to use credit cards to excess funds on the casino floor. crown could still lose it's a license if the government is not satisfied. the sec has won a concession in its drive toward greg leding the 131 billion dollar
they left travel restrictions on people from china, india and much of europe. modern land is the latest chinese developer to miss a payment on a dollar bond. that is according to a filing at the singapore stock exchange. last week they terminated a proposal to extend the bond's maturity by three much. shares have been suspended since last thursday. we are hearing of at least two holders of evergrande's 8.25 dollar notes. the grace period for another payment ends this friday. creditors are...
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Oct 25, 2021
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and europe by november. haidi: that was part of the reason how we saw tesla being vaulted to that for the biggest u.s. company position. and it is important not just in terms of the cars and this deal, but the significance of this. going mainstream. it gives anyone who is curious about driving and electric vehicle, driving a tesla, essentially the opportunity to test drive one through hertz. when it comes to ev's we also have the chinese a startup unveiling details of his new products and features at its tech day including faster charging infrastructure, as well as, yes, a flying car. the vice chairman spoke exclusively with us about their ambitions. >> rp seven is our flagship vehicle right now in china. it is one of the best selling devices in the china market. we have seen a strong interest level in our presale program. we are announcing official sales today. this marks another milestone as we have delivered our first and now this is the second flagship product for us to deliver in norway and we are very
and europe by november. haidi: that was part of the reason how we saw tesla being vaulted to that for the biggest u.s. company position. and it is important not just in terms of the cars and this deal, but the significance of this. going mainstream. it gives anyone who is curious about driving and electric vehicle, driving a tesla, essentially the opportunity to test drive one through hertz. when it comes to ev's we also have the chinese a startup unveiling details of his new products and...
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Oct 25, 2021
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and a little while ago, like europe, getting covid under control, but the u.s. with the problem, but now, it is reversing a bit. for a lot of it, covid is still at the center of a lot of noise across countries, across markets, obviously having a deep impact on the situation. until we get the pandemic behind us, that is going to cause ongoing volatility and, in many ways, opportunity. haidi: shane, always great to have you with us, the head of investment strategy at amp capital. crown resorts. found not suitable to hold the melbourne casino license. according to the commission of the casino operator, at the moment, we are hearing that the finding is that crown is not suitable to hold that open casino license there. we will be awaiting for details when it comes to the other findings, but certainly, this is a huge development in the crown situation, being the global gambling empire. a reduced chain of domestic casinos -- whether the casino license will continue. looking at the suitability of their ability to hold the melbourne casino. we will get more details on th
and a little while ago, like europe, getting covid under control, but the u.s. with the problem, but now, it is reversing a bit. for a lot of it, covid is still at the center of a lot of noise across countries, across markets, obviously having a deep impact on the situation. until we get the pandemic behind us, that is going to cause ongoing volatility and, in many ways, opportunity. haidi: shane, always great to have you with us, the head of investment strategy at amp capital. crown resorts....
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Oct 25, 2021
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>> in north america and western europe, the most profitable markets, it has reached saturation in the population. there is no question tiktok is draining people away from instagram. i look at this and the bed press instagram is getting should accelerate that departure. i don't think there is anything facebook can do about it that is geomet to they would love -- that is legitimate. facebook is a mature company. it is not going to grow as rapidly. if the numbers are higher in the short run, that is coming out of the future. investors need to be more careful. emily: how big an opportunity do you think the meta-verse is for facebook? mark zuckerberg wants to bet the future on this, a potential name change on this. is that going to pick up the slack? >> the name change has nothing to do with this. the name change is about distracting us. this is a test for our system. we have allowed this company and google and others to run with any soup -- without any supervision. they have made investors and fortune. investors are incredibly thankful. the rest of the company is -- the country is unhappy
>> in north america and western europe, the most profitable markets, it has reached saturation in the population. there is no question tiktok is draining people away from instagram. i look at this and the bed press instagram is getting should accelerate that departure. i don't think there is anything facebook can do about it that is geomet to they would love -- that is legitimate. facebook is a mature company. it is not going to grow as rapidly. if the numbers are higher in the short run,...
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Oct 24, 2021
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the head of the european parliament said europe will not be intimidated. this is all part of a larger pattern of off-and-on presentations that president erdogan has had with countries that really are nominally and practically allies of turkey, including in nato. so this is not an entirely unheard of scenario, but it is -- it would be a very striking move if turkey goes through with this. kathleen: this is kind of an awkward time for this. this is one week before the g20 meeting in rome where president erdogan is supposed to meet with president biden. >> that meeting is usually the case ahead of the big international summit. neither have been confirmed nor denied. but they are all going to be meeting, and there is a source of -- in this case, it's not even bilateral, but multilateral tension between members of the g20. and it's not the first time that erdogan has shown that he's willing to take a very unorthodox approach to policy, including economic policy where he intervened in personnel decisions at the central bank, and other issues that, in the end, as
the head of the european parliament said europe will not be intimidated. this is all part of a larger pattern of off-and-on presentations that president erdogan has had with countries that really are nominally and practically allies of turkey, including in nato. so this is not an entirely unheard of scenario, but it is -- it would be a very striking move if turkey goes through with this. kathleen: this is kind of an awkward time for this. this is one week before the g20 meeting in rome where...
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Oct 24, 2021
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and their president's approach to governance between europe and turkey and also between the u.s. and turkey. what we have heard from the u.s. so far is that they asked the foreign turkish minister for clarity on what this means because erdogan said that the ambassadors from these 10 countries including the u.s., germany for example would be declared persona non grata. that requires an official decision from the government that is not been made yet. there is this waiting for the other shoe to drop. the feeling with eric on that -- erdogan that you have with turkey because he can be a very mercurial leader. he does not hesitate to pick fights. that said, this has been going on since the trump administration. as far as the u.s. is concerned. the is this man and philanthropist who is in jail has been there for four years already. this has been coming for a while. kathleen: more pressure on the lire, i guess. china on its latest virus outbreak. compared to other mornings you have heard in -- warnings of hurt in the past, how serious is this one? reporter: the global scale of things, i
and their president's approach to governance between europe and turkey and also between the u.s. and turkey. what we have heard from the u.s. so far is that they asked the foreign turkish minister for clarity on what this means because erdogan said that the ambassadors from these 10 countries including the u.s., germany for example would be declared persona non grata. that requires an official decision from the government that is not been made yet. there is this waiting for the other shoe to...
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8.0
Oct 24, 2021
10/21
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david: you eventually went to europe. colin: i was in europe as a young lieutenant for two years. and then, the period you are talking about, i worked for cap weinberger. david: the secretary of defense? colin: the secretary of defense, and i was his military assistant, senior military assistant. and we became exceptionally close. and after two years, it was time for me to move on and get back in the army. and they got me an assignment in in germany where i was going to take command of a division. i was now a two star general. and one day the chief of staff walks in and says, we've changed. sir? the family is packed. we got the house sold. stuff is moving. mr. weinberger wants you to stay here for another year. i said, and not take a division? that's right. then he said something which is quite right, he says, just remember, colin, you are here to serve, and you serve where we need you. i can find division commanders anywhere. mr. weinberger, secretary of defense, wants you to stay longer. yes, sir. and then i went in that evening to see mr. weinberger, secretary weinberger. and h
david: you eventually went to europe. colin: i was in europe as a young lieutenant for two years. and then, the period you are talking about, i worked for cap weinberger. david: the secretary of defense? colin: the secretary of defense, and i was his military assistant, senior military assistant. and we became exceptionally close. and after two years, it was time for me to move on and get back in the army. and they got me an assignment in in germany where i was going to take command of a...
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Oct 23, 2021
10/21
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david: you eventually went to europe. gen powell: i was in europe as a young lieutenant for two years and then i worked for captain weinberger. i was the senior military assistant and we became close. after two years it was time for me to move on. they got me an assignment in germany. i was now a two star general. one day the chief of staff walks in and says, we have changed. sir, the family is packed. we are moving. mr. weinberger wants you to stay here another year. i said, and not take division? that's right. then he said something which is quite right, remember, you are here to serve and you serve where we need you. i can find division commanders anywhere. mr. weinberger wants you to stay longer. yes, sir. i went in that evening to see mr. weinberger, secretary weinberger, and he knew i was disappointed. he looked at me and said, you know, you are not going to get division. i know that disappoints you but next year you are going to get a corp and that is to divisions. 70,000 people in the fifth corps. alere later he l
david: you eventually went to europe. gen powell: i was in europe as a young lieutenant for two years and then i worked for captain weinberger. i was the senior military assistant and we became close. after two years it was time for me to move on. they got me an assignment in germany. i was now a two star general. one day the chief of staff walks in and says, we have changed. sir, the family is packed. we are moving. mr. weinberger wants you to stay here another year. i said, and not take...