tom: are the tots publicly traded? jonathan: i don't know, tom. if they are, i would have expected you to have a share. tom: the triple leveraged all tots fund. and you very much. saving us right now, this is a really important conversation, david sowerby joins us in new york. thrilled he could be with us. what this comes down to is your belief to not go to cash. i have never known you to go to cash. why should i not go to cash this morning? david: because cash is trash. zero return. after inflation, it is negative. most of the time which markets go up 2/3 of the time. i think in the near term, you're still going to see companies' free cash flow margins be very impressive over the next 12 months. tom: what we can say is you work off the income statement. explain the dynamics now between the zeitgeist of margin erosion and the reality in our ok economy. you make it revenue support. david: free margins are 12.5% today. we are likely to hear companies in the upcoming earnings season talk about inflation and labor market shortages. those will be the t

sam: good morning, tom. basically, what i look at is knowing that the s&p 500 is likely to close above the september 2 all-time high fairly soon. the question is going back to world war ii, looking at the prior 60 pullbacks or declines of 5% to 10%, how much further did it go beyond that recovery level before stumbling into another decline of 5% or more? the answer was the market has risen an average of eight point 4%, a median of 5.4%, and it has taken about 98 days before we on average slip into a new decline. when you look also to how well the market has done from the low point of october to the end of december, average gain is more than 7%, so basically, there really is a santa claus. jonathan: what is it about seasonals? when all of us first got into this business and heard about all of this, it sundered like hocus-pocus. what is it about all of this? sam: a lot of it has to do with capital inflows, the old sell in may strategy, basically implying that most of the money is put to work early in the year,

tom? tom: thank you. coming up, how the world's leading first is career women are failing them in several ways. that is next. this is bloomberg bloomberg tom: welcome back. we are 43 minutees into the european trading day. european stoxx 600 gaining .3%. that stock gaining more than 4%. you had the stellar earnings pitch we got from u.b.s. we'll be speaking to the c.e.o. about that. this was front and center for us yesterday. president erdogan threatening to kick out 10 ambassadors. you see the turkish lira gaining 1% vs. the u.s. dollar. let's switch focus to the bloomberg ibc taking and for the millions of working women in the world's leading cities, daily life is often shaped by what they cannot do and how they are excluded. how 15 global cities rank shows each failing in several ways. joining us is rebecca. thank you for joining us. what does the index do and what were the main takeaways. >> i'll take you back to the original thinking about this index. those of us in london will be very familiar with

tom: this is the tom porcelli difference. this is the focus without the distraction of children and dogs. [laughter] tom p.: i am back in the office. it feels good to be here. tom: you did not bring the children or the dog with you? tom p.: i did not been my kids are very upset by this. the dog is making it worse. he looks a little down. no one is around all day to feed him. jonathan: has he cashed out that long nasdaq position? that is what matters [laughter] . [laughter] great to have that energy on the trading for in new york city with tom purcell he of rbc capital. tom: i do not have an opinion. i do what i will not say. jonathan: -- tom: for the people who say get back in the office they should bronze that interview. jonathan: a different kind of energy. it feels good. i like being in a packed stadium. lisa: i agree. that is my favorite part. i'm not going to give my opinion but you should frame that and understand the energy. my view is i am agnostic. jonathan: tom keene, lisa abramowicz, and jonathan ferro. agnostic, r

yes, tom? jack: i am watching on the waterfront tom: tom: -- i am watching on the waterfront tonight. it is a movie. jonathan: i wasn't around then if you watched it as a kid. tom: i watched it 42 times. a lovely blonde showed up early in the movie. jonathan: speaker pelosi said that she should do a better job selling this package in d.c., her words. i think you should do a better job to be frank. is that the problem? the reporters, the media? tom: that is a good question. what i would suggest, and the rest of them on 24/7, i hear almost a silence on the linkage of these two bills. it has sort of drifted away. jonathan: it has drifted into a new year, except they have to get it done. lisa: it is not fair for the journalists to be an advocate, that is not our job. number two, what are you selling when the democrats cannot get on the same page as to what they are trying to spend on question mark the details have not been worked out. we are discussing the headline number. this doesn't even begin t

tom: that was very quick. [laughter] expand on that briefly. >> fast-growing and stable earnings sector. tom: hi yields don't worry you? >> they do, but they need to be a lot higher to be a lot more worried. francine: next time you come on, we will do a full 20 minutes on technology stocks. coming up, soaring energy prices take center stage as eu leaders gather in brussels for a two day summit. that story next. this is bloomberg. ♪ tom: welcome back to the open. 22 minutes into the european trading day. losses across the stoxx 600 of around 0.3%. reflected in the individual indexes from the ftse 100 down to the ibex. the questions concern inflation inputs, articulated by the likes of the unilever ceo, putting earnings front and center to that point. pulling to the upside to some extent. broadly, the earnings have come in relatively positively, francine. francine: there is quite a lot going on. it is not like you wake up on a thursday and you say, i really need to watch inflation expectations. there are these

tom: no. we haven't figured out the imf, we haven't figured out southwest air versus the other domestic carriers, and we haven't figured out tomorrow with the inflation report. jonathan: will you trust southwest with your booking around thanksgiving? will you trust southwest with your booking around christmas? tom: no here and i could be completely wrong and i defer to the experts, but it sounds like they are trying to run it lean and mean. jonathan: and can't find pilots. it seems to be a problem if you want to fly planes. tom: we are so amply staffed here that we don't run with that psychology. jonathan: marvin: marvin loh --marvin loh joins us now. a quote, this week is likely to feed fears and we think cpi risk is to the upside and rito growth to the downside could do you agree? marvin: yeah, i have been in that camp. what is interesting with some of these discussions now is not only are we acknowledging that 2021 is not evolving the way we thought it would be, but 2022 is not potentially

tom, a choppy path ahead this morning for sure. tom: i don't get it. i have no idea how the liberals rationalize cutting and clipping whatever. jonathan: this is a little more efficient. tom: three of us in london, now that we can fly? we can go when you can go! jonathan: i can go and i can fly back direct. fly straight in, fly straight back. the only reason you want to go to london or is there another reason? tom: lisa can bring the kids. jonathan: i'm not sure lisa wants to bring the kids. tom: can i just say, it is the 40th anniversary of limburg and i need -- bloomberg, and i need to say good morning. [laughter] tom: that is how i learned about the bloomberg terminal. jonathan: congratulations to mike and everyone involved. from new york,, this is bloomberg. ♪ jonathan: live from new york city for our audience worldwide, kicking off q4. bond market yields are up. mike mckee joins us now. mike: it looks like we are doing a little better than we anticipated. the spending numbers have come up eight -- incomes come in at 2/10. here is an interesting.

sunday night, tom brady and the patriots go at it. jonathan: tom hooper? who's tom -- tom who? who's tom? tom: what are you watching? jonathan: liverpool-man city. equity futures down 17 on the s&p. i like tom brady. why does everybody hate him? lisa: he is successful and good-looking. jonathan: i thought we love to in america? don't like success anymore? lisa: a lot of people like tom brady, but he has a polarizing figure. jonathan: i should have known, looking at washington. growing up, tk, it was all about aspiring to be successful. tom: do i sense a sermon coming on? jonathan: we've only got 15 seconds. tom: there's -- jonathan: q4 -- here comes the hate mail. this is bloomberg. ♪ baaam. internet that doesn't miss a beat. that's cute, but my internet streams to my ride. adorable, but does yours block malware? nope. -it crushes it. pshh, mine's so fast, no one can catch me. big whoop! mine gives me a 4k streaming box. -for free! that's because you all have the same internet. xfinity xfi. so powerful, it keeps one-upping itself. can your internet do that? ♪ >> the fed is

tom: no. lisa: you need to tell the story of united kingdom to tom keene. jonathan: are we going to go to london? tom: the desk patrol is out looking for a desk. jonathan: that is the only reason you won't come? tom: it would look good. lisa: take a greyhound. jonathan: we will work on it. two london? -- to london? lisa: [laughter] jonathan: kathy jones is coming up. before that, mary from gm offers decent numbers from general motors. heard on radio and seen on tv, this is bloomberg. ♪ >> in london we may be rushing to the pubs after work, in the u.s., democrats are trying a new approach to taxation to pay for president biden's agenda. that would affect around 700 people, those with at least a billion dollars in assets. meanwhile, a separate -- to pay at least 15% tax rate. president biden is zeroing in on whether to nominated jerome powell for another term. the president met with treasury aids to review candidates. he is not settled on a choice and it is unclear whether he is leaning towards reappointing powell or replacing him. xi jinping is calling for

tom: good morning, everyone. from washington and the meetings of the imf and world bank, from new york and the meetings of jp morgan on conference calls, worldwide within inflation report this hour, a busy day. jonathan: and so far, so good. jp morgan doing ok. the imf predicting 5% gdp growth in america. it is about insufficient supply meeting that demand, and higher prices because of those things mixed gather. do those higher prices hit growth? tom: we forget the scale for the moment. jp morgan meeting on the upper end income line. these are giant companies. apple in the news, jp morgan in the news, and they survive this pandemic. jonathan: investment banking fees up by 52%. ipo activity good, and m&a activity good. the banks are clearly picking up some these. tom: a little bit of transitory inflation worry. lisa, we will hear about inflation. every single person i ran into in the airport, on the airplane, started with inflation. lisa: this is what people feel in their day-to-day experience, whether it is going

[laughter] tom: and i'm not. [laughter] annmarie: i would say potentially people who have created hurdles for the infrastructure path would be the two moderate senators. nothing can get done without them on board, and that a senator manchin and senator kyrsten sinema, and there is reporting that she is in europe fundraising. potentially that could irk some progressives. jonathan: i had forgotten those headlines about boris johnson stealing christmas, and i see them again in the last 24 hours. annmarie and i cooked last year for thanksgiving, tom. we weren't allowed to see other people. tom: did you cook a turkey or an eagle? annmarie: we did a turkey and we had a vegan, gluten-free pumpkin pie. tom: get rid of her. come on. [laughter] jonathan: if you ever go to a grocery store with annmarie, it is a nightmare. you want to get your ice cream. it needs to be very fee, gluten-free -- to be dairy free, gluten-free. annmarie, thank you. have you ever had a dairy free, gluten-free ice cream? come on. lisa: get a piece

tom, francine. tom: thank you. coming up, billionaires ray dalio and larry fink say they would pay more in tax, but only if funds were spent well. more on that next. this is bloomberg. ♪ >> i'm not even sure that money is well spent now. i think this is one of the issues today but i would agree with everybody. if we can find solutions where the money would be directed in a proper way, i have more to give. >> if it raises productivity and creates equal opportunity, we have to talk about the usage of money and how that is employed. that is part of that picture. if it accomplishes those things, i would support it. francine: they rethink and ray dalio talking tax, and thinking only of the money will be put to good use. a lot of the chat is on taxation in the u.s. the 15% proposed by democrats. unclear to me what that means or how that is different to the 15% proposal tax. you literally look at the balance sheet and bring it home so the taxation goes to the u.s. instead of -- tom: this is about closing those tax looph

tom: this is important. we are going to go to drew matus, always optimistic, but what did you think about how jan hatzius framed the american consumer in his gdp markdown? jonathan: the back end of 2022 is where it is in that call from goldman. i wonder where it leaves this federal reserve and the conversation about rate hikes over at the fed. that is some deceleration on growth. where is inflation in the mix? what does that look like? tom: i was doing the math in my head while jan was going on about nominal gdp on 2% inflation back to normal, essentially. kailey: his whole point was that the consumer spending aspect of this is going to be delayed due to the delta variant, but that is coming back to the earnings conversation as well because consumers have to be tolerant of those price increases in order for them to work. some of that discretionary spending really comes into question. tom: the dow jones industrial average down 100 points, 34,534. jonathan: he does that just to wind me up. the s&p down 0.5%. t

tom: i think so. i think all in all, she probably averaged high marks from this off of some of the other disasters. lisa: how about the red sox batting average? tom: well, we will have to see. good morning. this is bloomberg. ♪ laura: with the first word news, i'm laura wright. results from apple and amazon have stoked fears of an unhappy holiday. both companies posted disappointing earnings reports, a sign that the supply chain crisis is hurting even the mightiest corporations. amazon is suffering because of a surge in the cost of labor and fulfillment. meanwhile, apple is taking a hit because it can't meet demand for its products. france and italy drove economic growth in the 19 nation euro area in the third quarter. a surge in consumer spending boosted french output to 3%. italy supported an expansion of 2.6% bolstered by industry and services. meanwhile, germany and spain posted gdp figures that were weaker than expected. overall, the euro area economy grew 2.2% in the third quarter. president b

i'd say it's about 60% tom jones from the novel, 40% tom jones, the singer. love tom jones, the singer, but it's not an imitation. but obviously you've got to channel a bit of tom jones, otherwise you're not going to get through those amazing numbers. # i wanna die...# five, six... pony! and helping to recreate swinging london, the choreographer arlene phillips. don't you change it. how would you rate the real tom jones' dancing over the years? very interesting. i would call tom jones a great mover. and he has his own moves, his own style. he doesn't exactly do dance steps, but i could watch him all the time. and as for sir tom jones, well, he,s given the show his blessing, and next tuesday, he will attend the premiere. how much pressure will that be, singing the hits of tom jones in front of the man himself? i don't know. for me, i kind of get a kick out of it. i think it's going to be really fun. i'm just going to shout them at him and hope he enjoys. until you hear cries of, "you're doing it wrong!" from the audience. yeah — "it's wrong, it's wrong, dom!

tom: it is highly politicized. you want to say to get something done, where are the adults in the room? i would look for discussion of what is the message to the greater global public? jonathan: equity futures up 0.5% . this is bloomberg. ♪ >> the balance sheet is high. we are seeing signs of inflation. they have to begin to stop the quantitative easing. that taper is going to be a challenge. issues of supply change, growing inflation. to navigate economically the next year is going to be a real track. jonathan: the barklay ceo. from new york city, your equity market is shaping up as follows. the s&p advancing 20. yields no -- yields lower. the euro renewed strength. in the commodity market, 83.50. a list on brent. we touch on the commodity story more broadly in the next hour. this line summing things up perfectly -- the market now believes the fed will tighten faster than the fed thanks. tom: michael kershner has been a good guest. we are thrilled when he is on. michael, i want to talk to you about how you walk

tom: the earnings at positive. snap reminding us that social media technology shares are not immune to supply chain risks themselves. a contraction in terms of retail sales. a drop versus a forecast of an increase. ftse 100 is gaining 0.1 percent. some members of the former members of the bank of england saying maybe investors have gotten over their fears in terms of pricing in a rate hike. in germany, gaining 0.3% and spain effectively flat. in gaining 0.2%. let's see what else is happening across the asset space. bitcoin, some concern that maybe you are getting in terms of the interest, some profit taking. sterling is in focus on the back of this commentary and reassessment potentially of the rate hike timeline for the bank of england. 137 for the pound. and the u.s. 10 year is below the 1.7% level. 1.67% is what you are getting for the u.s. 10 year. francine: looking at these sectors on the move. it is the third week in the row -- in a row that global stocks are gaining. i am looking at the european stocks. if y

tom: thank you very much indeed. joining us now, the cio from multi-asset macro at beaver investors. the market pricing in a rate hike as soon as the end of the year by the ecb. are the markets getting this one wrong? >> we are less concerned about inflationary pressures and potential interest rate rises in europe then we are in emerging markets and the u.k. and the u.s. for example. our expectation is the ecb will probably push back pretty hard against any expected interest rate rises over the next 12 months or so, but let's take a step back for a moment and look at the bigger picture here. globally, particularly within developed markets, central banks are still running emergency monetary policies. let's face it -- we are no longer in an emergency. the expectation that everybody should have is that over the next 9, 12, 18 months, that interest rates will move higher. francine: interest rates can move higher, but when do they move higher? if you have a repricing, and it could be from the fed or from the markets, yiel

tom _ fly in the uk? this was not a green budget, tom was _ fly in the uk? this was not a green budget, tom was mentioning - budget, tom was mentioning the freeze in fuel duty, and then this quite surprising substantial cut to air passenger duty is quite popular with conservative backbenchers because it helps to support regional airports, lots of whom happen to have newly elected conservative mp5. the problem is that it makes it easier and cheaperfor the problem is that it makes it easier and cheaper for people to travel by air, which is most polluting — and he made an odd boast, saying the thing is domestic flights admit only a small proportion of emissions. it's the long, international ones. but it's also much harder to travel by train by australia than it is to newcastle by australia than it is to newcastle by train. so it's not pointing in the right direction in the run—up to a cop 26 in glasgow, that absolutely essential international summit that we are essentially turning away from difficult decisions for the sake of cost of living, obviously motiv

tom: amazing. vinod, looking forward five years or so when 5g projects may have matured a bit more, it is more widespread or maybe it is even paying for itself in some sense. how do you feel the role will have changed from how people understand it today? today, people may see it as a pipe for conductivity. will it be a different kind of actor in a few years' time? vinod: definitely. being a pipe for conductivity is vital for all of the things that happen on top of that so we should never underestimate the value of the pipe. however, with 5g, we need to think about this not only on a standalone basis. but on what goes around it and what is connected. we are very much focused on how we make the conductivity player integrated into the edge, for example. how do you make the data extracted available to customers in a way that it is user-friendly and can be used either by the customer or their partners or, in the case where they choose to expose the data, third parties? what does this mean? i believe we

tom: thank you very much. coming up, there has been profound turmoil in austria, the czech republic, and poland. we will get the latest next. this is bloomberg. ♪ >> take the emotion out of it completely. staying educated is very important. staying disciplined, especially in an environment where we had volatility. unbelievable. >> there is a psychology around understanding and not fighting the market and being respectful of the market and what the market is telling you and being cynical about every input in your mind and questioning every assumption, which can be tiring sometimes, but you have to do it. >> it takes discipline and the ability to disentangle. i know that sounds weird, but disentangle the decision-making process from the day today. >> that in same volatility of crypto helped me manage volatility. >> you take all crypto, all d5. it is going to $2 trillion. everything we knew day today that people do not realize yet, that market is telling you is going to be disrupted. >> there is an opportunity

tom brady is my favorite. tom brady is my favorite also. you got to meet him. tell me what that moment was like after the game when he came over. >> it was -- it was, like, it was crazy. i was in so much shock. it was crazy. like, it was just mixed emotions. like, i had, like, i was -- i had excitedness, i was, like, shocked, i was, like, sad, i was, like, really happy. it was weird. but i was so blessed. and i'm so grateful that we were able to make that happen. >> what did he say to you? >> i don't really remember what he said to me. but -- >> it was pretty loud. >> but you got to shake his hand, which was so wonderful. after such a big game for him. you know, james, walk us through what this journey has been like for you with the diagnosis and the role, frankly, that tom brady already played in this journey you've been on. >> yeah. no, so noah is 10 now. and from about age 6 or age 6 he asked me, dad, who's the best quarterback and i just said, well, tom brady. ever since then he's kind of been fixed on tom and then kind of everything around him and so, of c

keep singing, tom. we are going back to a normal of low inflation, and this is what is supporting risk assets. the irony of a bond market that has a bearish outlook on the future actually edifying we are seeing in stocks. tom: this is perfectly framed. a red headline on the bloomberg of 4.6% german inflation, and out there somewhere is to percent inflation, according to the ecb. kailey: and the ecb is looking for it on a sustained basis. they are not going to move on policy until they get around that stable to percent inflation target. we heard it again with the headlines coming out of the ecb, moderately above target for a transitory period. my question is really going to be how christine lagarde navigates this in the press conference. what is her tone like? how does she push back on what we have been seeing in the bond market, the pulling forward of hike expectations? the market says in 2020 two year, the ecb is going to be 20 basis points higher than we are right now. how does christine lagarde pushb

sorry, tom. t score is russia one, hollywood nil. sorry, tom.— nil. sorry, tom. i have to say, can imagine — nil. sorry, tom. i have to say, can imagine that _ nil. sorry, tom. i have to say, can imagine that tom - nil. sorry, tom. i have to say, can imagine that tom cruise l can imagine that tom cruise won't be that thrilled but does this heat up the competition, if you will, for an even bigger, more of a blockbuster film from the americans in the space race?— film from the americans in the space race? this has opened up the whole _ space race? this has opened up the whole of — space race? this has opened up the whole of space _ space race? this has opened up the whole of space to _ space race? this has opened up the whole of space to be - space race? this has opened up the whole of space to be a - space race? this has opened up the whole of space to be a film | the whole of space to be a film set. this is a commercial opportunity, notjust a pr exercise, there's lots of money changed place here at. this is just the start. soon we will be getting a star war

tom: thank you very much. we have some lines on the terminal from the chinese premier, saying he is confident china will meet its full year targets. others have said they are likely to meet it despite challenges around real estate and the energy crunch. he is pointing out the supply chain challenges remain acute. anna: and speaking confidently they will ensure electricity demand is met. we will return to that story. coming up, truth or trade war, the eu and u.k. brace for new negotiations over northern ireland. that story is next. this is bloomberg. ♪ tom: welcome back to the open, 22 minutes into the european trading day. the stoxx 600 gaining 0.6%. similar picture for the cac quarante and in germany as well. top of the list for sectors, higher energy prices, technology gaining 1.6%. let's switch focus to brexit. the european union and the u.k. are braced for a new round of negotiations over trade barriers and northern ireland, after a british challenge and fresh concessions from the bloc, glimmers of progr

because i don't think i can live with that, but let's move on to the question for tom tom, this is a pointed question and a statement in the form of a question regarding higher interest rates and multiples, why aren't we talking about what impact that will have on general motors at seven times forward? at northrop grumman at 14 times forward, at goldman sachs at ten times forward, how much will those multiples compress i hope i'm leading you to where my head is on the way i'm phrasing this. how much will those multiples compress as those interest rates head toward 2% >> that's a great point when rates rise like that, they leverage the benefit of higher interest rates, and so since 1930, rising interest rates becomes -- turns into a typhoon tailwind and it played out from 1950 to 1970, even 2002 to 2007 and it means stocks that are trading at seven times earnings start to get into the teens multiple y is you get the double or triple benefit of accelerating earnings growth plus they're a multiple expansion and then it's the overall market seeing better overall demand so it's almost a t

tom: francine -- laura. dani: she will be here in an hour. tom: just counting down. coming up, ireland removes another hurdle to an international accord. this is bloomberg. ♪ ♪ >> i don't think that is the current american situation in the way to compromise and a final agreement on all the technical parameters of this new international system. >> a lot of work has been done. we are very close. conversations continue as i stand here today. we are confident that we will be able to finalize an agreement. >> i share the optimism. this is a once in a generation opportunity. a once in a generation opportunity to make the international tax system fair. dani: some key voices on the final stretch towards a goal tax deal -- global tax deal. a big hurdle yesterday was lifted with ireland saying it is ready to sign up to an accord. joining us now is our reporter in paris, caroline. how important is this announcement from ireland? caroline: it is quite historical . ireland has had a 12.5% corporate tax rate for a generation. this is why u.s. big tech has been attracted to ire

my name is tom. at my heaviest, i was 34 stone. tom is a lot further down the line. his bariatric surgery was four years ago, and it came after constant cycles of exercise and diets that just didn't work. you need to do it slower. it's been physically and mentally exhausting. i didn't know at the time i suffered with depression. i didn't know it was a thing. my mental health could kind ofjust stop me in my tracks. you wake up and you're like, "i don't want to get up, i don't want to speak to people, i don't want to go out." it cost him thousands, but for tom, the bariatric surgery has had a dramatic impact, from 3a to 16 stone — a total game—changer. i felt immeasurably different. life just seemed easier. you do look at life before and life after, that it was... they are completely different lives. it's nice to get out. but with obesity, things are seldom simple. for tom, losing 18 stone brings new problems. so, the biggest thing that i've got going for me right now is that i have a fair amount of excess skin. i've gone through all of this effort and i still can'

we will cuss with tom mcgee. we will stay and talk to the senior vice president of peloton about the state of the high-end fitness company and the indoor fitness market and bitcoin etf poised for approval. getting ready to approve the first etf in a watershed moment for the cryptocurrency as it breaks $60,000 yet again. we have breaking news as well on johnson and johnson. the fda is backing the covid booster shot after at least two months. this was a unanimous decision by the fda and applies for people 18 years or older. the fda has backed the johnson & johnson booster shot after at least two months for those 18 years and older. jon: johnson & johnson shares higher today. investors have been in a buying mood. there is a live look at north american trading. focus has been on the earnings picture. pushing around questions around the supply chain and focusing on solid numbers from goldman sachs, wrapping up a busy week on wall street. you also have al: and jb in the mix -- you also have jb hunt in the mix. the reta

i'm dani burger alongside tom mackenzie. tom: inflation fears grip the market spirit 10 and 30 year yields hit the highest since june. stocks sink as blackstone says it is time to sell. boris johnson will use his speech at the conservative party conference to shift the blame for the supply chain crisis, presenting it as an opportunity for the u.k. volvo lands their biggest ever commercial order for electric heavy goods vehicles. we will speak to the ceo of volvo trucks this hour. dani: let's get your look at futures, a negative start. most indexes are down 0.8%. higher yields pressuring the market. energy prices are taking off. markets are opening now. tom: as you know you had the dip buying in the u.s. that did not feed through in asia, particularly when it comes to the tech stocks. chinese tech stocks are edging toward a record low. in europe, wrestling with high energy prices, the consequences in terms of inflation and what it means for central banks, and policy action from governments. the cac quarante is down 1%. mr. vi

tom chivers is the science editor at unherd. and wolfgang blau is the former global chief operating officer of conde nast — but he's now the co—founder of the oxford climatejournalism network. wolfgang, i gather you feel so strongly about climate change that you basically paused your career to educate yourself? it's true, kate. it suddenly came to that moment where i realised this is notjust a topic. this is so huge in every single area ofjournalism — sports, culture, notjust news or science journalism would be changed. and i felt i had to take a proper time—out to really at least try and understand what this is all about. well, welcome to you all. let's look first at how the media's approach to climate change has evolved over the last decade or so. tom, let's start with you — you're the science editor at unherd, prior to that you wrote about science at buzzfeed — but before that, you were at the telegraph. how have things changed in that time? well, i mean, most prominently, it's become a much bigger and more widely

>> i still love tom. i still love tom. >> i can't boot him, but definitely not rooting for tom brady. >>> breaking news in san leandro. a small earthquake struck just a few minutes ago, a 3.2. we will keep you updated on any reports of damage or injuries. >>> this month? 30 years since the devastating firestorm through the oakland hills, killing 25 people, and destroying more than 3000 homes. in this drought, every bit of protection helps. today we spotted some goats at work above the call to cut tunnel my doing their part to clear fire fuels from the bone dry hillside. >>> a heads up for part writers. the system will be shut down between south hayward and union city this weekend for a big track replacement project. there will be a bus bridge, but it will at least 20 minutes to your trip. a >>> speaking of slowdowns, airmail could take longer to reach you starting today. the postal service is increasing prices and delivery times to balance its budget. first-class mail traveling long distances could take u

good morning, tom. tom: good morning, francine. it is the first conservative party conference since 2019. last year's was canceled as a result of the pandemic. voters across the country talking about the constraints, the second weeks of the fuel crisis and the shortages at the petrol pump, and the impact on households as a result of that. i am pleased to say i am joined by the president of the confederation for british industry, who can give us those insights into the impacts of the corporate and business level of some of those inflationary pressures. some of this is down to supply chain, some down to the shortages in labor. i will start by asking for your reaction to prime minister's statement over the weekend to the bbc that these adjustments are post-brexit adjustments. he pushed back on the idea that there would be a further loosening of restrictions to allow more workers in. i know you have been vocal about the opportunity to attract workers. what is your reaction to the prime minister's comments? guest: we are in a position t

in fact when tom clark came to him, when tom clark came to the oval office with a list he had a list of catholic nominees. his going to have a catholic nominee and harry truman did not even look at said no, no, no prime going to nominate you. he had it in his own mind of who was going to be the nominee to the court. they were going to be men they were all men at this time. they were men he knew and trusted. [laughter] one has got to count. it is incredible. >> throughout you leave two great narratives about how truman is the court. a couple of cases relate to unions and a couple create civil rights. we really do not have time to get too much into those. please buy the book or get it from the library, whatever. it is a fantastic read and you will learn so much. i'm wondering if you could, enclosing, summarize how truman used the supreme court to advance his civil rights agenda? >> truman was the first president to address the naacp. he became convinced particularly after the blinding of sgt isaac ordered, that something had to be done at the federal level to protect the rights of amer

tom mackenzie spends the next hour with me. we will track the markets as they open up, looks like a positive start. this is bloomberg. ♪ anna: welcome back to the european market open. one minute until the start of cash equity trading. i'm anna edwards in london with tom mackenzie. tom: debt ceiling progress, democrats will accept a republican compromise to allow a short-term increase on borrowing. global stocks climb. the great gas reversal, putin offers to ease the energy crisis with strings attached. it causes a surge in prices. the ecb is starting a new bond buying program to prevent market turmoil when pandemic support is phased out next year. anna: let's look at the futures picture, it looks green and buoyant. futures to the upside. we are expecting a rebound. we missed out on the late day rally yesterday on european equity markets. we play catch up this morning, with more optimism around the debt ceiling and gas prices. tom: the asian session has been positive, the first up session in five sessions. hong kong tech stoc

tom's rule about small _ very real for people. tom's rule about small drops _ very real for people. tom's rule about small drops of _ very real for people. tom's rule about small drops of alcohol. very real for people. tom's rule - about small drops of alcohol savings getting large amounts of press coverage is illustrated on ourfinal paper. the metro, borisjohnson and rishi sunak in a brewery in southeast london. "cheers, richie" — beer and champagne will probably be cheaper, madeira, portand beer and champagne will probably be cheaper, madeira, port and other fortified spirits will be more expensive. if you drink madeira, will you be sipping it to save your supply? i will you be sipping it to save your su -l ? ., �* ~' will you be sipping it to save your su--l? .,�* ~ ., will you be sipping it to save your su--l? ~ ., �* supply? i don't drink madeira, i'm sor , supply? i don't drink madeira, i'm sorry. i'm — supply? i don't drink madeira, i'm sorry. i'm a _ supply? i don't drink madeira, i'm sorry, i'm a humble _ supply? i don't drink madeira, i'm sorry, i'm a humble beer

tom: live from paris. previewing that spending plan by macron which is coming up in the next few hours. coming up as well, european stocks, inflation and china concerns. get back to the markets. this is bloomberg. anna: welcome back to the european market open. 52 minutees into our trading session. bouncing off earlier session lows. just about to say getting a bit of respite from risk assets. the oil prices going up again. your focus is on bond markets and fx i spent the last hour talking about mark who was excited about two-year yields in the united states. tell us about the short-term. what's happening? >> we have seen the front end and the back end of the treasury market coming off the lows of the summer. i think there is space for -- in a measured fashion. markets are getting prepared for the fed's taper announcement that is about to come in november. now a big clue to how the market is positioned comes from the reaction to the payroll report that we got friday. by the end of the day, yields have rebou

for reining champs, two words, tom brady. for reining champs, two words, tom brady. go to cbssportshq.com. or major highways during takeoff. don't buy anything. i packed so many delicious snacks. -they're -- -nope. would you say, ballpark, when group two is gonna get boarded? 2 hours and 58 minutes. progressive can't protect you from becoming your parents, but we can protect your home and auto when you bundle with us. someone should've left home earlier. people were afraid i was contagious. i felt gross. it was kind of a shock after i started cosentyx. four years clear. real people with psoriasis look and feel better with cosentyx. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections —some serious— and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms, or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. learn more at cosentyx.com. you founded your kayak company

tom: thank you. coming up, bill winters talks about the need for more transparency in the carbon offset space as we look ahead to the conference next month. more from our exclusive interview with him. this is bloomberg. ♪ anna: welcome back to "european market open." european equity markets are flat overall. the dax is a bit of a bright spot. technology things -- names there. the cac is under pressure. ftse is also in the mix, down by 4%. in terms of orders, -- analysts are taking a gloomy trajectory saying that growth is larger than expected. that is a view shared by others that stock is under pressure. tom: let's switch focus to one of our big interviews. the chief executive at standard chartered says -- fossil fuel. it is in part because doing so would undermine transition efforts in the emerging markets. he spoke exclusively to flint -- francine lacqua. bill: when other the criteria is that we do no harm. if you're doing harm to communities, indigenous people, biodiversity, it will not qualify.

>> to tom's point. the space shuttle flight cost a billion dollars but when he got into orbit we didn't launch them into space. >> we hope not. >> yes. there is a big reinvestment that space activity helps right here on earth. >> harris: i want to talk about what space does to the body. when you are 90, you are prepping for this. you are not flying with the blue angels every afternoon so you know how to clinch your teeth and what zero gravity feels like. i was a child of a combat pilot. what does it do for william shatner to go 62 miles up in the air even if it was only 11 minutes? >> well, the first thing is weightlessness. as soon as that engine shuts off you are floating. you can only experience that on earth for a few seconds if an airplane. that's unusual. i talked about this earlier. you have an urge to flail. it took me a few days or a few weeks before i was really good at floating. that's something that is alien. in a few minutes i don't think they would have that problem. when the crew got out

tom jones. our entertainment correspondent colin paterson went to the birmingham rep, where it is having its world premiere. # na, na, na, na, na, na, na, na, na, na...# tom jones — not that one — singing the hits of tom jones. 18th century literary creation and 20th century welsh pop sensation merged together for a new musical, what's new pussycat? tom jones was much, much, much worse. henry fielding's tom jones was published in 1749. it told the tale of a young handsome man sleeping his way through society. the 1963 film version won best picture at the oscars... # my, my, my, delilah...# ..prompting a young welsh singer called tommy scott to change his name to tom jones. # it's not unusual to be loved by anyone.# now, more than 60 years later, the two toms finally collide in this show. how much do you channel the tom jones singer on stage, and how much tom jones from the novel? i'd say it's about 60% tom jones from the novel, 40% tom jones, the singer. love tom jones, the singer, but it's

no word yet on when tom cruise's space mission will be possible. >> space. the final frontier. >> meanwhile, news this morning that yet another star is joining the hollywood space race. one week from today, william shatner, aka captain kirk in "star trek," going to space for real. the actor's set for takeoff tuesday morning not in the uss enterprise but in blue origin's "new shepard." the same company that took jeff bezos to space this summer. shatner tweeting, i'm going to be a rocket man. the 11-minute flight will take shatner into weightlessness about 60 miles above the earth. and although he'll only spend three to four minutes there, fans are certain his extensive training has prepared him for just about anything. more than 50 years after he first took tv audiences to the far-flung corners of the galaxy on "star trek," william shatner will become the oldest person to ever go to space at 90 years young on tuesday, you guys. >> at this point, space is starting to feel like an exclusive club that we don't have memberships to and now we have to live through

noah wearing a tom brady jersey throughout treatment. watching brady from his hospital bed after surgery. all the while getting stronger. playing catch in the hospital. and after months of treatment, his doctors now say noah is cancer free and gave him the all clear to go to sunday's game. wearing his jersey before the game. making a sign. carrying it into the stadium -- "tom brady helped me beat brain cancer." brady spotting noah in the crowd. giving him a hat and shaking his hand. noah's head in his hands overcome. afterwards, brady on the moment. >> obviously tough kid, man. and, puts a lot in perspective to what we're doing on the field. in the end, it doesn't mean much compared to what so many people go through. >> reporter: tonight, noah and his dad, james, are grateful. >> that was amazing. i'm so blessed. >> yeah, you are. we all are. >> so blessed. so sweet. thank you so much for watching. i'm lindssey davis. good night. announcer: bilding a better bay area -- moving forwards, finding solutions. this is abc 7 news. >> flooded ro

and later on in the show -- >> ♪ ♪ ♪ >> hello tom hello, tom brady! the seven-time super bowl champ, returning to new england. we will preview tonight's highly anticipated buccaneers versus patriots showdown. patriots showdown he year. the homeandautobundle xtravafestasaveathon! at this homeandautobundle xtravafestasaveathon, there's no telling what we might bundle! homeandautobundle xtravafestasaveathon! bundle cars, trucks, colonials, bungalows, and that weird hut your uncle lives in. so strike up the homeandautobundle xtravafestasaveathon band for the deal that started forever ago and will probably never end. homeandautobundle xtravafestasaveathon. -say it with me. -homeandautobundle-- no one's leaving till you say it right. homeandauto... shingles? camera man: yeah, 1 out of 3 people get shingles in their lifetime. well that leaves 2 out of 3 people who don't. i don't know anybody who's had it. your uncle had shingles. you mean that nasty red rash? and donna next door had it for weeks. yeah, but there's nothing you can do about it. camera man: act

thder hit and tom brady became the fourth to beat all 32 teams. the bucks win in new england 19-17. >>> arizona took the fight to the rams out of the gate in the battle of the unbeatens. kyler murray led the charge producing 16 yards on the ground cardinals fly high 37-20 >>> the saints first game at the superdome of the season against the giants causing quite a stir. barclay feeling better he caught a pass to tie it up. in overtime, he would run one in big blue win 27-21 >>> the chiefs win after back-to-back losses. patric kansas city beat the eagles, 42-30. >> check out this incredible catch by marquis brian ravens knocked the broncos from the ranks 23-7 only two undefeated teams remain in the nfl the raiders put 3-0 mark on the line against the chargers. >>> major league baseball playoffs are now set a wild final day of the regular season the yankees clinched that final al spot in dramatic fashion. aaron judges in the run over tampa. they will head out to boston tomorrow the rivalry red sox and yankees. the winner will face the div division cha