The left syria and 2013, all three attackers were killed, too detonated suicide vest and a third was shot by police. Congress is tightening visa requirements following terrorist attacks. It will bar people who traveled to iraq or syria the last five years. All 38 countries in the visa program rep issue passports containing biometric information. Joe biden said the donald trump wins the republican nomination he would be defeated easily by Hillary Clinton in a general election. By Vincent Clinton went in a walk but cautions his comments are not in endorsement. On these andore other stories of the new bloomberg. Com. Now over to matt miller. Matt we are getting headlines it looks like from alibaba excuse me. Im going to the terminal here to find alibaba headlines. News coming across right now. Let me just with the yahoo s ticker. Moving a little slowly at this hour of the morning. Looks like yahoo will suspend work on it alibaba plan. We basically had the story already. We are getting confirmation of this story. Suspend their work and it is concerned about markets perception. Obviously, that is the only thing that the market cares about. It was concerned about assets and liabilities. It is confirming basically that yahoo is saying everything we have been talking about and will continue to talk about. I believe that for now. Like that it sounds which is getting followup. Were actually getting the details around what this headline means. We have to get this information from Marissa Mayer. There is a conference copying held at 9 00 today. A file was just made. These headlines coming from that filing. They are exploring what they are trying to do. Stephanie we will find out. We have heard that analyst after analyst have said what they need is a plan. Specifically a plan post alibaba. Give us a bit more before we dig into this. Matt lets look at the rest of the markets. Are looking atow the gains but really little change of the s p. The Dow Jones Futures up about. 2 . Stocks are down, it has reversed those gains. Cac down. Crude is what we want to look at. With a crushing decline around 7 00 a. M. It has bounced back a little bit since then. We came out to 36 a barrel. Then the story, one of the story will focus on todays kindergarten morgan. This company is poised to open lower for the 10th straight day. Yesterday and cut its dividend by 74 . Theve on my terminal now didi i. S. Screen which is the debt distribution screen. Debtows you 41 billion in for a 35 billion company. They have to pay the servicing on this debt. That is why they are cutting their dividend. It has taken some investors by surprise. The size by which they reduce their dividend. Knows about this story as well. It is what investors have been focusing on in a very negative way. Connotations for the rest of the oil pack . Which is a Anglo American cutting 85,000 workers. Stephanie we will get a lot more into yahoo . More headlines crossing but we will get back to that. It is not the only big news out there. A megadeal in the Chemical Industry. Dow and dupont are said to be late stage murder merger talks. At globalf research advisors, what do you make of this news . Mind it was amy game of Musical Chairs government not amongst the agrochemical companies. Remember monsanto had made moves then china came out and place it other bit force agenda which was rejected. Dow and dupont are players with of the agrochemical field. In my mind, and what other analysts were thinking was some sort of members between dow and do points duponts agrochemical assets. It escalated to a broader merger and the larger companies. David take us more broadly. You have the agro business, there are two other components being talked about today. I believe that his plastics and specialty chemicals. How does this work . Indeed. I think the wall street journal article that came out probably has it right. Be a mind, it is going to costcutting story as well as a recognizing that some of the parts story. They come together, probably as be as, then there will costcutting drive that goes on. Probably these guys can take out between 3 billion or 4 billion of costs. Then they split the company into three different parts. The parts will be an agrochemical part, a commodity part, and a specialty part. Agrochemical is truly the one business where they can see Big International growth. Is that also a place that might cut back . Absolutely. March early partially because of the company, but keep in mind that if you take a look across corn,ities beat wheat or , i thesewheat or Corn Companies have already embarked on a crosscutting costcutting drive. We will keep in mind that standalone down has already announced a crosscutting program. Standalone dupont has announced a threeyear program of 1. 6 billion. That merge is 2. 6 billion. As i said, the entities can easily be 3 billion or formerly know as. Stephanie thank you so much for joining us. Both dow and dupont have been targets david thats what i was going to ask. Ordernie we know the gag runs up very quickly. It doesnt feel like a quintess. Coincidence. Stephanie they had no choice at this point. David yahoo is now looking at spitting out assets. They were going to spit out alibaba, now the talking what keeping it and spinning out their internet business. This is a defeat for mercer mayer. Reverse been. It sounds a good dance move. Stephanie the cofounder of yelp sit on the board of yahoo is the reason we saw so much coordination between yelp and yahoo now officially stepping down from the board. Yeah, maybe focusing on venture capital. Back. Go saying iswhat theyre focus on thehis alibaba tax problem is they are insisting this wouldve been a spinoff. The perception that it might not be a spinoff was harming their value. You could see that in the stock prices is down 40 over the course of the year. They will instead spinouts yahoo , it is a reverse spin. Basically what their contention is there is rather value and a business thats real value in is two timesd that with air well went at david they are making money. A lot of money. It is shrinking, and tech stocks are supposed to grow, not shrink. Stephanie all companies are supposed to grow. But tech stocks get a pass. If dow chemical is growing and a yahoo that is shrinking, yahoo gets a higher valuation. That is what happened in technology. That is not happening at yahoo . Stephanie take us the terminal. Matt im not looking at stock reaction right now. , but let me this up just show you what we see since january 27, 2015. The price had increase. If you remember the fiveyear chart, it is increased substantially since Marissa Mayer has taken over. But the started to come down after the irs said it will hinder their taxfree spinoff plan which is really the key to the increase previously. With theyahoo goes spinoff plan and files of the fcc. The stock continues to go down. It turned around in september, that in november it today will pressure alibaba to drop the spinoff plans. Are upie yahoo shares 2 in premarket trading. We are seeing somewhat of a reaction. We will cover this all day long. You are watching bloomberg. When we return, we have to talk about oil. The wild ride continues. David welcome back, im here with your business flash. Apple is suSpending Plans for a live tv service. Building afocus on platform for a Media Company to sell directly to consumers through its app store. In a plan to sell a package for 40 a month. Bd companys wanted more money for their programming. Walmart imports from china have been displaced. Study comes amid Economic Policy institute, a longtime critic of walmart policies. They say does not take into account the jobs created in distribution and majestic. Stephanie thanks a much, we have to talk oil. A sixted its decline your year low. With Inventory Data due out, investors could be bracing for yet another wild ride. He oversees almost 15 billion in energy assets. Nobody is wearing coats. That is a problem. That is exactly the problem. A lot of inventory as well and no one is wearing a coats. Stephanie actually, we have fixed it. You have almost 15 billion in assets, specifically in energy. How do you manage that . Was always opportunities in energy. There are lots of ways to make money across the Energy Sector. Today, we think there is a lot of opportunity. Energy prices are low, that is great for the consumer. We have low gasoline prices, that is a gift for the American Consumer. Companies like bolero have really benefited this year from lower gasoline prices which has really driven demand increases. We think it will be a bounce back next year and infrastructure stocks. They have been beaten up this year. David that sounds like good news, but have to be some negative consequences. Which of the we saw the Anglo American. There are. There are challenges was low oil prices environment. There are challenges for companies that have a lot of debt. If you are a small oil producer that has a lot of debt, it is a really challenging environment to operate in. Youre making tough decisions and trying to reduce your service costs. That trickles down to the service companies. Then they have to cut their revenues. Businesses are very difficult. A strong Balance Sheet and a Measurement Team that has been to this before, you can make it through. Stephanie who has been through this before . Has been a lot of these executives that have been through this before. The big companies, Like Pioneer Natural Resources Company dental, exxon mobil, a lot of these have been around for several years. They have experienced multiple market cycles. David what should we specifically be looking for, layoffs . Cutbacks . Defaults . The first thing we have seen so far in the first full visibly to reduce tool is to reduce your capital. A second year of cuts, declined to Capital Spending this year. The First Time Since 1980 we have had two consecutive years of cuts and Capital Expenditures. The next thing is exec or would you talk about, the rig count. It is now at the lowest level it has been the century. All of that means is lower oil production. That is important to help get this oil price headed in the right direction. Likednie you said you tinier, specifically help us with that. What do you like . Pioneer is an oil producer. Right now, prices are some 43 need to find the producers of the lowest prices because those ones will survive. They will drive an Oil Prices Start to produce. Basinr is at the premier in north america. It is one of the few places right now you can make a little bit of money. Pioneer has been very successful at lowering its cost. Just as importantly, increasing the volume and is able to recover. When you have those two dynamics working in tandem, that means the cost that they need to actually earn and economic return is coming down. That is a good thing for them. David it was some encouraging news, good for them. Thanks for a much rooming with us. So the come, we take a deeper chinas to speed economy and whether may be some opportunities. David now to global go where we are focusing on china. Up, whatprices picked does this tell us about whether it is time to invest in the worlds secondlargest economy . Want to bring in president who helps advise companies on their strategies. Welcome to bloomberg go, lets pick up on those numbers. We have consumer numbers what do you make of them . Numbers were a continuation of what we have seen for almost four years now. The Consumer Price index was up a little bit than we expected. I think what it shows is that there is this continuing trend of a shift in china towards consumption and services leading the way Going Forward in terms of Economic Growth in manufacturing still being relatively weak. It is expected given where china is in its development path. David to oversimplify, is the Services Sector holding up its end of the bargain . Yeah, the prices of services were up. That was one of the strong parts of the price index rises. Services are holding up their end of the bargain. It is a slow transition, it will take time. We see progress in the right direction. David you over the china. What advice would you give, or would be suggested by your research . China is slowing, we see evidence of that. As a market, it is still very attractive. It is the secondlargest consumer economy in the world. It will continue to be so. It continues to be an important opportunity for businesses looking at a Global Portfolio in choosing what to place bets. However, it is the case now where Companies Need to be making smarter and more insightful decisions. What our focus is on, helping Companies Make their bets more intelligent. David i want to to talk about the central bank. You came out with a report talking about different tiers of cities. System as a 50 tear er system. The system minicooper use is making smartul for decisions. With come up with a framework that we think is much more makingand suited to Business Decisions and providing recommendations about how to prioritize cities in terms of investment. Look ats companies china, talk to us about the government controlled economy. Even last night at the the central bank lowered its reference rate a little bit. An unusual economy in that it is a command economy. The government and its policies play a big role in driving what happens in china. It is always something that we are watching. It is always on the businesses need to be watching. It is just something you do look at alongside market forces. David thank you very much. Will talk with Terry Branstad he will tell us what we can learn from my was economy on bloomberg. Sure, tv has evolved over the years. Its gotten squarer. Brighter. Bigger. Its gotten thinner. Even curvier. But whats next . For all binge watchers. Movie geeks. Sports freaks. X1 from xfinity will change the way you experience tv. Tand thats what were doings to chat xfinity. Rself, we are challenging ourselves to improve every aspect of your experience. And this includes our commitment to being on time. Every time. Thats why if were ever late for an appointment, well credit your account 20. Its our promise to you. Were doing everything we can to give you the best experience possible. Because we should fit into your life. Not the other way around. To welcomeck back to bloomberg. Were looking at a Beautiful Day in london. Jeff ever time. Stephanie tom remembers. David first, we go to the first word. Iraqi forces have made a breakthrough. They said they regained control over sections of the city of ramadi. Iraqi forces are getting air support and training for the u. S. In brazil, a Supreme Court justice halted an impeachment committee. That panel was to decide whether to open proceedings against the president. They ruled Committee Members must be chosen by Party Leaders in an open vote. Life expectancy in the u. S. Has stalled for the third year in the row. A child born last year can expect to lived to almost 79. It is not clear why it is flat. Drug overdoses are probably playing a role. David, back over to you. David thanks a lot david. Tom we get the news last china but 8 00 of those headlines breaking. 30 minutes, exactly. Here is alan from dupont in a 2013 annual. I love that stephanie a morning mustread. Only him would bring it from 2013. Tom lets go to when the stopped making gunpowder. They said it did not happen. Significant growth opportunities. You need to growth to make it work. I would suggest you are familiar with this. With your illustrious past. No growth and the growth the phone starts ringing. David it is not pretty. , they did have challenges to emerging markets they were counting on. Commodities have heard them. This is about nominal gdp. This is directly back to Janet Yellens challenge, mark carneys challenge, the growth the economist even colbert is dead on on this. Cory johnson was just here saying Tech Companies have to grow. They dont have to be profitable. You need to grow but you also need to be profitable. It will do that, they will separate into the synergy things. Stephanie that is engineering. David it is job cuts. But to your point, but the overall pie is not growing then you have to rearrange the pieces. Tom you have to, that is the heart of it. In her defense, this coleman clearly identified two years ago. Dupont really is a market performer. That is saying a lot and a great market. Struggles are way behind harshly criticized two and three years ago. How you get the secret sauce to make this transaction. David nudging along. Stephanie you are a special guest, but we have a very special guest with us. The governor of iowa just days away from being named the longestserving governor in u. S. History. What i wastalk a economy. You are and i culture state, he left to think about corn. What does this mean for iowa . Done hase epa has german the price of corn below the cost of production. Despite that, because of the ink we have done, i came with the farm crisis in the 80s. With a much more diversified economy. We are growing insurance and Financial Services and advanced manufacturing. Even with what we produce and new, we are you a leader in renewable fuels. Ad theyre looking at renewable chemical tax credit for the next generation. Heres the second order of fact. Im in the hummer h2 and they have to make the to des moines. Im going 90 Miles Per Hour and a burning up oil. Gas is cheap. But the first order is an income drop for the corn to agriculture. The whole industry wrapped around hydrocarbon. Which wins out . Or is it thatgs, income effect fact that dampens