Transcripts For BLOOMBERG Bloomberg Markets Americas 2024071

It is one been one of the main demands. Excess meant of threats from china and russia. Military commanders are concerned about abilities to jam or destroy satellites. China views space as a critical u. S. Military and economic vulnerability. Australia bracing for another week of devastating rush fires. Three have died and more than 150 homes have been destroyed. Chunks of the eastern seaboard and greater sydney face what is called an catastrophic threat. Cother conditions are expected for the rest of the week. Global news 24 hours a day, online and at tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Welcome to bloomberg markets. Im vonnie quinn. From world headquarters, your other top stories we are following. Hong kong violence spreads. Communityhile the please tear gassed. Opec can do. D what every day more than 130 people die of opioidrelated drug overdoses, every single day. How the academic can be curbed the epidemic can be curbed. Us. Ey leinz is here with we are halfway into the trading day. You have the dow turning into positive territory, a couple basis points unit you could call it flat. And dow lower. Lighter volume today. 20 percent lower than the average as it the veterans day holiday in the u. S. It is an interesting picture for equities today. Climbing off lows of the session. Tmobile, the news crossed moments ago report from dow jones that we works is in talks to get the tmobile Ceo John Legere for their ceo. Investors do not like the news of him leaving, stocks dropping sharply. Some down still by 1. 7 . It is a dow jones report that we work is in talks with john legere. Boeing up 4 on reports the 737 max 8 may resume deliveries as soon as next month, before the faa necessarily approves the plane to fly but they will be delivered so that when they do get approval they can hit the air. Stocks sharply higher. The stock is 6. 2 . Vonnie let me just give more context on the we work story. We are confirming that weak is wework is in talks with john legere. It makes a lot of sense for john legere to be considered. He is a other folk character character a colorful and he could stay on at wework. This is all speculation tmobile sprint is downd 2. 6 . Both stocks off lows. That john legere may leave but regulatory concerns. Hong kong chaos intensifies. Fresh protesting the weight of a student death resulted in live rounds of bullets, tear gas, and arson in the streets. The violent demonstrations were aimed at destructing the money morning commute. It is warned that protesters will will not reach their goals. If there is Wishful Thinking that by escalating violence the Hong Kong Government will yield to pressure to satisfy the socalled political demands, violence is not going to give us any solutions to the problems that hong kong is facing. Bloombergts Welcome National Security Team leader. It looks like there is no end. There is more violence in fact. What is the word in washington . Seen the violence spike over the weekend and dramatic images coming out on social media of the turn things have taken there. From washingtons perspective and a lot of other countries, the concern is that the violence worsens from the Trump Administration and their immediate concerns that would bleed into the ongoing trade talks. Of deathsa number take place and violence ratcheting up, both parties will have a hard look at the broader u. S. Chinese relationship and how that affects the likely trade deal. How long can this carryon before it becomes destructive to relations . Several have seen months of protests with spikes of violence but mostly a slow burn. I think officials in beijing and washington have tried to keep any discussion about the protest and hong kong on a parallel track at best and not have it interfere, the same way washington likes to talk a lot about chinas human rights record. It doesnt have that lead into the trade talks. The risk does much higher when you see these kind of protests taking place. As you go into the fifth and sixth months of protest coming of frustration on the protesters side and on the police side that could lead to more demonstrations of violence. Vonnie hong kong of course is a major Financial Sector and has been effectively shut down. Bill that will be where the longerterm impact from the protest is where Companies Think about relocating more staff to hong kong headquarters perhaps away from hong kong. The protests will factor into that in a longstanding way. That is the kind of thing that if the protests resolved in the next month or two, i think you will see Companies Taking a much harder look at whether hong kong is the best place for them to have their operations. Vonnie thank you for keeping us uptodate. That is bloombergs bill faries. Sales record, 268 billion you uan in a single day bonanza. Lets bring in the tech columnist in london. What were the most popular items . That. I am not sure about we have a huge number of electronics. Ofy are pushing a lot products through and there are new iphones which is probably top of the list. Is 38. 3ine number billion worth of sales. That is an increased of 26 from the year previously. This is what people are looking at a slight slowdown in the pace of the growth. Previously it was 27 and the year before higher. There are analysts and investors having some knowledge about what is happening to Chinese Consumer confidence and whether that slowdown in growth will be reflected in alibabas single day numbers. Vonnie we probably need a few more years for the two enter the dennis the two answer to this, but are they spending down savings and is that becoming a more culturally accepted mode . The Chinese Government said it or is this just a one blowout year for singles day and it is due to holiday purchases coming forward . Alex it is hard to tell. It suggests them dipping into the ability to spend on consumer products. Given the size of the chinese market, that is a huge amount of expectation that it is a Bottomless Pit of growth. There are . Are questions marks about whether that is the case. The biggest expenditure you can products, apple has had a massive slowdown because rising composition from chinese rivals. The price of the competitive products is not as high as the apple ones. Maybe you can look at the willingness to attracting the product isnt as much great as it is in other parts of the world. Vonnie that is alex webb for us in london. Andng up, Global Oil Demand talks on the outlook for 2020. This is bloomberg. Wework oneaking news, the hunt for a new ceo and has held talks with tmobiles john legere. They say he is one of several people under consideration but other people have been spoken to as well. Representatives for softbank, tmobile and weak parent declined wework parent declined to comment. John legere is being considered and this is no surprise. There has been work on a sprinttmobile merger. John legere would be an obvious choice for someone like marcello. He is liked by a lot of people. He might be a solution for softbank. He is just one of several people under consideration according to the sources. Stocks of sprint and tmobile down as much as 4 for tmobile, both have recovered but still 2. 6 down for mobile, and sprint view anypull into tieups. Says week total demand growth will weigh on markets. He spoke with us from abu dhabi. We are producing in abu dhabi the lowest in terms of oil is low. Lowcosttal is the oil. Come even if good the mood in the market is not good. Sweet. 60 you are or 65, whereat 64 can we move to on the upside if there is a trade deal . Patrick i dont know. I always make a mistake when i try to guess paired for total, my break even after dividend is at 50. I am ready to see the price down compared to my competitors. The oil price, look to the 12 months passed or 18 months. It is 15 15. Last year had an average of 72 per barrel. Will we get that volatility in 2020 . Patrick i think the market, you risea very small it can weekly. Quickly. D can rise we see the impact of the demand and peoplel are worried globally even with the Financial Markets pushed up by the low interest rates. Do trade wars hit demand levels this year . Demand the increase of global we by will end at 19 because of demand at 1 million because of less demand. C. E. O. Patrick pouyanne. This is bloomberg. Vonnie time for the bloombergquint take. Some nations think away from Nuclear Power. Bloomberg quick take. Some nations thinking of moving away from Nuclear Power. Nuclear Power Supplies 1 5 of the u. K. Electricity but most reactors are old and must be shut down in the next decade. Greater use of Nuclear Power could be part of becoming carbon neutral. Installed the biggest claim in the world. Some governments believe the dangers of Nuclear Powers outweigh the benefits. They point to reactor meltdown in japan and germany shut its reactors by 2022. That is your bloomberg take. Overdoses because an average of 130 deaths in the u. S. Every single day. Leveraging big data may be the key to lifesaving treatment. Joining us from Johns Hopkins is the coauthor of the opioid epidemic, what Everybody Needs to know. Thank you for joining us doctor. The Community Miss the exponential increase in opiodrelated over toys and death . 45,000 and 2017. Starts with missing the opioid prescriptions with which went up in the united states. We recently understood that every shipment of opioids is reported to the Drug Enforcement administration but they never did that much with the data to see the pattern to see something was happening and that little towns were getting tens of millions of opioid pills through. The first failure to recognize the problem was a failure to recognize patterns in the data. Vonnie massive quantities being pharmacieso a few nationwide. Now that we know how can we . Everage big data for Solutions People are at risk for overdose death but treatment can pull them back from the brink and save their lives. There are a couple of states that have dug into the data to understand who is at the highest risk so interventions can be targeted. For example, in massachusetts, they linked a number of data sets between the criminal Justice System and Hospital System and they found that people who were leaving prison were at very high risk but if they got treatment, the risk of death could be cut by half or more. That also brings a decreased risk of committing another crime. In maryland, researchers at Johns Hopkins have think databases and found Something Interesting peoples risk of death goes up every time they touch the medical system of the criminal Justice System and those who touch both have as much as a tenfold increased risk of death. It shouldnt be that way. It should be when you touch the medical system you get lifesaving treatment or even the prison system can recognize a problem and help someone. They are failing and it is a wakeup call that it is time to start providing treatment when these systems interact with people at risk. Vonnie how do we scale treatments nationwide quickly and effectively . Patrick pouyanne dr. Sharfstein call attention to the fact that very few doctors are trained to treat people with opioid addiction. Course tonot done a help reduce the death. Imagine if diabetes and you had a lifesaving drug that fewer than 7 of doctors who prescribed. One step at would make a big events would be for Training Programs committing to train doctors to take care of patients with opioid addiction. There is a lot of pressure growing on the organizational structures responsible for training doctors to say it is time to wake up to the Opioid Crisis and help save more lives. Vonnie is it political or is this money . Dr. Sharfstein it is more of a historic stigma on addiction that for a long time, over a century, we thought of addiction as a moral failure and not a condition that can be treated successfully. If you go back a century, doctors were thrown in jail for trying to treat people with addiction. Since then, the medical profession has largely, for many years, said this is it for us. This is for the criminal Justice System and drug treatment programs but not Emergency Departments are hospital wards primary care clinics. Only now are we seeing leadership in the medical profession saying this is a disease like many others and we can save lives. The word really needs to get out and spread beyond the really great prices places to the entire field of medicine. Vonnie thank you. It is definitely something we need to tackle immediately and the studies show that. Thanks to your great book. Hat is dr. Sharfstein that bloomberg rp is part of bloomberg news. Weworkk story having an effect on the stock of tmobile. Boeing saying it might get the 737 max 8 into the air. This is bloomberg. Im Mark Crumpton. Some republicans may testify at the impeachment hearings but will be limited of those who have knowledge of president trumps action. There are at least two people who wont be invited, joe bidens son and the whistleblower. U. S. Congressman peter king calling it its after 14 terms. He is a former chairman of the House Homeland Security committee. He is the 20th member of his party from the house to plan an exit next year. Is head of the brexit Party Clearing the way for conservative candidates in next months elections. Contested 317 seats against Boris Johnsons ty and labor candidates the United Nations Nuclear Watchdog said irans capacity to enrich uranium has grown 25 fold since it began violating its 2015 Nuclear Agreement with world powers to protest the return of u. S. Sanctions. It is confirmed iran has restarted in reaching at its complex that had been idle under the terms of the deal. Inspectors for the Agency Report that a ran stockpile of uranium grew almost two thirds during the last quarter. Global news 24 hours a day, online and at tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Shery im shery ahn. John i am in for amanda la ng. Shery here are the top stories from around the world. On the hunt for a ceo and is looking at john legere as a candidate. Formally approaching walgreens about taking the Company Private in what could be the biggest ever leveraged buyout. Tesla unveils its first vehicle built in china, a milestone for elon musks Company Breaking into the Worlds Largest auto market. John a softer start to the trading week after a strong run. S p coming off ive weeks of gains, the strongest stretch since february. The unrest in hong kong and angering trade uncertainty weighing on the broader indexes. S p and nasdaq in the red. The Dow Jones Industrial average making a modest push into the green. Part is the walgreen story and another factor is the development over the course of the day from boeing and comments from the company that 737 max deliveries could resume starting in december. That news adding a little fuel to the price of boeings shares today, up 4 . Certainly that is sooner than some of its customers had been anticipating. Pound we are watching the jumping the most in three weeks. This, as we got news of the brexit party giving force johnson a boost in its effort to leave the e. U. We are now seeing the british pound jumping. ,ook at this g tv chart volatilities volatility has fallen. The brexit Party Standing down candidates in 317 seats that tories one which could mean a majority for them, boosting the chances of passing the current brexit withdraw agreement by january 31. Breaking news this hour, shares of tmobile and sprint falling. Merck learned Bloomberg Wework having conversations with john legere. In anuld this work out environment where we had tmobile trying to merge with the sprint for 18 months now . We expect a Court Decision by the First Quarter of 2020. As news goes, i have to say this one really surprised me. Is the kind legere of guy that would want to see this to fruition. The flip side is a very talented ceo and i am sure that we company is talking to him about running wework. John lets dig deeper into that. What is it that has learned him such praise . Face of the the brand for tmobile back when this was a carrier that was really struggling. Back then, i didnt think they would even make it. Spectrumn, thanks to and money from at t on a breakup agreement and he took that and ran with it. He sort of fostered through his own image this counterculture, consumer friendly brand. If he leaves, tmobile has a bit of a brand problem. Shery what do we know about the relationship . That was the first thing i thought of. That is the interesting connection. ,mobile is buying sprint softbank owns a huge stake in sprint, so i am sure they have gotten familiar with john legere. I wonder if they have begun socializing him and seeing if he would be open to it. There may be talks going on and they may be at a serious level. I agree with you there is definitely a connection. You are suggestin