Stock to talk about. Japans Prime Minister, shinzo pledged to lower Corporate Tax rates. The shenzhen composite index rose more than 3 . That is its second gain in a row. Indicate u. S. Stocks will open higher. S p 500 closed that more than 2 yesterday. Europe is being told it is time to act, and governments must take in 160,000 refugees from Northern Africa and the middle east. European Commission PresidentJeanclaude Juncker urge to the continent to share the burden. He spoke to the European Union in france. All of us should remember that europe is a continent where nearly everyone has at one time been a refugee. Our common history is marked by millions of europeans fleeing from religious, political persecution, from oppression. Ramy he did not use the word quotas, but he said it must be compulsory. There has been a shakeup at United Airlines. Ceo just my sick and two other officials are out. It has to do with a federal investigation into ties with the port of new york and new jersey restart aited moneylosing flight to the chairmans home in South Carolina in exchange for political favors. Its, apple will unveil latest iphone today in San Francisco. The device is expected to have a body similar to that of the iphone sex and the iphone six plus. There will be an upgraded of the iphone six and the iphone six plus. At the u. S. Open, top seed Serena Williams advanced to the semifinals by beating her sister, venus, but she needed three sets to do it. Match,won last nights 62, 61, 63. Those are your top headlines. Tom a lot of fun last night. With pami was talking shriver yesterday, the hall of fame tennis player. She said it is remarkable because not only are they at the top of their game, but they are among the oldest players there. Tom let me do a data check. Lots of green on the screen. Futures continue the advance, much of that coming off that that relief rally in asia. The 10year old, 2. 22 . Churning, 45. 78, doing better than 20 minutes ago. On to the next screen. Down towarding back the average of the last two decades. One where we set the point, the brazilian real did not have a good afternoon it will be3. 80 two interesting to see where that is, when they begin trading this morning. A survey shows good news on the American Labor economy. Here is the last bout of good news. We are way up beyond that in terms of the desire to find jobs. Michael we have a lot more job openings than we have ever had. Economy gets bigger, so that is not a surprise. Right here isews where separation starts. There are a lot more job openings than people losing their jobs, telling you the economy is much better. It is two months delayed, so it tells you what has happened. You see that reflected in the payrolls reports. Tom can we drive under 5 unemployment . Michael sure. Forecasts are we will reach that by the end of the year, well under 5 into 2016. We will slow down job creation, but we will get below 5 . Om amazing times we are in in the past 48 hours, the character of the cape has been changed maybe i should say, the screen on my bloomberg has changed. Joining us this my, Citi Private Bank global chief investment strategist stephen whiting. But first we go to enda curran in hong kong. Is there a wise to the list in japan in the recovery in china . Enda it all goes back to china. It was feeling in japan that there were fears of a hard landing in china. People say if china continues to remain calm, japans rally will remain sustainable. It is not that chinas economy has turned a corner here. Overnightthe report of a 55 chance of a global recession in the coming years main in china made in china. Tom how was that received in hong kong . Enda some people say it is doom and gloom, that china is headed for a hard landing. As the economy transformed from an old growth model to a new growth model, what cities have shown a spotlight on is a reminder that china is clearly the worlds it is a key importer of goods all around the world. Other economies around the world from brazil to australia will pose a real and present danger to Global Growth. Michael the real question is are we going to see more stimulus from the chinese . There were hints overnight of that, also hints of a tax cut maybe in japan. Central banks, governments are they still driving in asia . We are seeing stimulus rollout in high and i and in thailand come in indonesia. China is coming together with more fiscal spending, especially on the low growth side to get infrastructure going. They hope Infrastructure Spending will kick in in the Fourth Quarter and give their economy a read up a rev up here it tom enda curran, thank you. With us this money, stephen wieting. Gecko you interpret this i do not want you to say bull market, bear market, but this has to be confidence building for corporations worldwide. Stephen it was a panic selloff, and if you think about where the roots were, that is the real severe worsening that came when china freed its currency, it weekend, and there was some competitive devaluation. But there has been no followthrough. In some respects, there has been a replay. Most of what you have seen is the same slowdown since 2011. So ultimately i think we had a growth panic. There are longerterm worries, as you just heard from the report. But the idea that we suddenly have had a new collapse is misplaced three michael is it, though, a matter of Central Banks and governments propping up markets again . We had the overnight talks in japan and we saw the markets grow up we saw the markets go up. Ven government in china has been a failure on the up and down side of this. This is not something that has instilled confidence. The overall impact of monetary easing around the world, it was an issue that will come home to roost. The idea that we are deeply in of feara quarter point in the United States. There was tremendous stimulus 08 to 2013. It is really about the extent of the stimulus earlier, what labor markets are tightening. To rip up theg script here. You were with citibank. Could you tell our global audience who professor bauder is withhy the world stops him . Their original economists that have forecast user activated that may be different. This is about his point of view. Tom it is, but he comes out of the London School of economics with a certain take, whether it is grexit in europe or china. Mention hisa curran work at citigroup . What is the distinction of him versus other economists . Steven it is certainly a bold view of the challenges facing a World Economy. It is important to note that what he is talking about is economies operating below potential. Is the lump out buiter. Pay a lot of attention to what he has to say. Somebody else people pay a lot of attention to is tim cook. Both enthusiasts and inventors investors are watching apple today. What to expect, next. This is bloomberg surveillance, streaming on your tablet, your phone, and bloomberg. Com. Tom good morning, everyone. Lets get right to our top headlines. Here is ramy inocencio. Ramy good morning, everyone. Senate leaders are fighting over whether democrats can prevent an up or down vote on the iran nuclear agreement. Are enough to block a republican resolution if they all stick together. The house begins debating the measure today. The kentucky county clerk who would not issue marriage licenses to samesex couples returns to work this week, but kim davis is not saying whether she will keep trying to block those licenses. She is free after being jailed for five days for defying a court order. Republican president ial candidate Mike Huckabee is backing her. I have already told her that if somebody needs to go to jail, i will go are here placed. And i mean that, the cousin i am tired of watching people harassed because they believe something of their faith. We cannot criminalize the Christian Faith or anybodys faith in this country. Issuingvis says licenses to gay couples violates her Christian Faith. Vegas, and engine on a British Airways jet caught fire. While the plane was prepared to take off. Passengers escaped on emergency chutes, and at least 14 people suffered minor injuries. The plane was a boeing 777. Those are your top headlines. Back to you. Michael it is no longer they must have company for investors. Apple shares are down 12 over the past six months, but it still makes the musthave products tom is holding one in his hand. Of seven childrens iphones are broken in the past hour. Michael amazing. He is camped out in front of an apple store. That is what they do when there is a new product. Butler covers apple products for Bloomberg Television. We get a larger ipad and some version of apple tv. What is going to be most important to investors today . Toms kids aside. John that is a great question, mike. If you look at what an iphone is and what it means to apple, it is a huge percent of avenue it is a huge percent of revenue. With an iphone six upgrade, the large screen, they achieved over 55 growth over the last three quarters. Michael with a refresh, with an s version. John they do a generational upgrade every two years. Featureen they do a upgrade. Apple, in my view, is sorely lacking in their camera technology, so it is big to get them hopefully to a 12 megapixel camera. Tom it has a better camera this time around . John that is the hope. I think they will. Tom what is fascinating about this whole thing is we have all been suckered into the whole Apple Ecosystem. What is the state of the Apple Ecosystem as we go into the holiday system into the Holiday Season . John i think the Apple Ecosystem is fine. Apple music is great. I have it myself. Tom will apple tv be like apple music . John that is my hope and that is their future. Investors, including myself, will be looking at apple tv. That is the hardware platform upon which they are going to build the Software Platform down apple tv which is the streaming service. I have said for years now, apples future lies in content. Tv, but the on a that, they pretty much have michael from what we understand, they do not have a streaming Service Ready to go, but they will open up apple tv to apps. Will Developers Come up with apps for people who will buy this box . John apple tv will have a very smart remote, so with remote, you will have siri on it. I like the idea. Tom siri . Michael i guess they can play games, too . This will put them in competition with microsoft. Closer. Ey are moving the Gaming Business is huge, by the way. Tom gaming at all that i just want to know they have . 37 on the dollar. Maybe they go down to . 34 on the dollar. That is amazing for a company of this scale. Do you margin do you market in margin erosion . Relative toket in apple. It is not bad. With a guy like tim cook behind the wheel, his background in operations and supply management, i think they can do a good job on the margin front. That is my hope. Tom do the old phones have a used value . Bmws. Hey are like they retain their value over time. Kids, it is like a bmw. Trey that puppy in. John butler, thank you so much. In our next hour with all the Corporate News we have on yahoo , and of course United Airlines. Us. Iam janeway will join the perfect time to talk to him. Michael mckee and tom keene. Bloomberg surveillance. Good morning. Tom good morning, everyone. Bloomberg surveillance peter tom keene and Michael Bloomberg surveillance. Tom keene and Michael Mckee. Michael the new ceo of yours airlines, taking over for jeff ek, who resigned yesterday. Here is a story from the wall street journal. Michael it is going to be a tough job. Joining us now, Airline AnalystGeorge Ferguson on the phone. That is a very tough, longtodo list. What does he have to do first . The merger has not worked very well so far, so it is going to be a priority. The interesting thing, though, he he really has no experience running airline running airline. He has to run the network and figure out what is going on and figure out what direction to take the company. Theael do we have any idea scandal that forced smisek to leave, what that will do to the company . George so far there are no financial implications, but the investigation is ongoing. We are all trying to figure out if there will be some sort of financial cost to this investigation, but right now it does not seem so. Tom is there a best Practice Model for United Airlines . Is there another air carrier getting a big merger right . George american has been a better job getting their merger correct read i think delta has done a better job. United has probably done the worst compared to either of the other two for a better model. Tom what do you do to do that . Twodo list, as Michael Mckee mentioned, how does an executive create a good merger . George there are obviously a lot of details the go into a good merger, so my guess would be he needs to get on the ground, talk to employees about things that are creating problems. Clearly it looks like i. T. At united is really struggling, and that will be an area of focus. Tom George Ferguson, thank you so much. We will have much more on this throughout the day, one of the major carriers in the nation really into malt right now right now. Umult Scott Galloway will join us from new york university, a perfect apple kind of day to speak with mr. Galloway about the mother of all brands this decade, apple computers. Scott galloway and bill janeway in the next hour. Stay with us. This is bloomberg surveillance. This is a great place to work. Not because they have yoga meetings and a juice bar. Because theyre getting comcast business internet. Comcast business offers convenient installation appointments that work around your schedule. And it takes done. About an hour. Get reliable internet thats up to five times faster than dsl from the phone company. Call 8005016000 to switch today. Perks are nice. But the best thing you can give your business is comcast business. Comcast business. Built for business. Tom good morning, everyone. Later today, with all due respect but no malley, the governor of maryland. Martin omalley, the governor of maryland. All duemalley, with respect. Ramy stocks are rallying around the world today, and asia live the way. In japan, the nikkei rose 7. 7 . That is the most in almost seven years. Japans Prime Minister, shinzo abe, promised to lower the Corporate Tax rate. In china, the finance ministry also promised to reduce Companies Tax burdens. Rose 3 , itsindex second game in a row. U. S. Stocks are shown to open higher. Hillary clinton has changed course on a controversy over her private email server or the democratic president ial frontrunner had resisted apologizing for using private email while secretary of state. That changed yesterday in this interview with abc news. Hillary clinton as i look act at it now, i should have used two accounts, one for personal, one for workrelated emails. That was a mistake. I am sorry about that. I take responsibility. And im trying to be as transparent as it possibly can. Show a number of polls majority of americans do not find clinton honest and trustworthy. Shares of yahoo are falling in premarket trading. The irs will not rule in advance on yahoo s plans to spin off its alibaba steak without incurring taxes. The comedy may proceed with the transaction anyway. The company may proceed with the transaction anyway. Netflix is expanding in asia. The company will offer streaming video in hong kong, taiwan, singapore, and south korea early next year. Last week netflix Began Service in Stephen Colbert is not a conceited conservative pundit. He just played one on tv. But no longer. He debuted on cbs last night as himself on the late show. Forhen colbert thank you joining me for my First Episode of the late show starring Stephen Colbert. You are witnessing television history. Like most history, it is not on the history channel. Tom he is drop trapping the character he played on comedy central. Stephen colbert says he is my old character but with millions. Those are your top headlines. Tom you wonder, where will they be in six months . He has such big shoes to fill. Times the new york says that he is not succeeding David Letterman so much as he is succeeding himself. Tom lets get back to the markets and the higher Interest Rates. The Interest Rates do creep up. Is that twoyear yield a fouryear high. , with wieting celebrates Citi Private Bank. What does this likely market vigilantes saying to janet yellen, lets go, now is the time . Steven i am afraid it is straddling action that between what could come and what might not come. It does not suggest all of the upward pressure we would get. If this were an uninterrupted, even modest tightening cycle. The federal funds futures rate, they are straddling between go or not go. There has not been clarity on nearterm action or the trajectory. Tom where is probabilities right now, mike mcke