Was going on in afghanistan. We had no troops, not an embassy. We might do a peace deal with the teleman, but they are not there yet. Says a democratic senator boltons firing was part of a familiar pattern with the trump white house. Exampleis just another of the president getting rid of anybody who does not agree with him. I clearly did not agree with boltons hawkish positions, but mark President Trump told reporters today that bolton was not getting along with other members of his administration. Somber ceremonies are being held to remark the to mark the 18th anniversary of the 9 11 attacks. A moment of silence was held at ground zero in new york city at 8 46 a. M. Local time to mark the moment the first plane struck the north tower of the world trade center. Global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more i am markountries, crumpton. This is bloomberg. Live from World Headquarters in new york. Toronto,. Here are the bloomberg on here the blumberg stories we are following from around the world. He was Oil Prices Take a dip after a Bloomberg News scoop that President Trump discussed easing sanctions on iran in order to reopen negotiations. Canada Prime MinisterJustin Trudeau has officially kicked off the Election Campaign here. We will look at the roads ahead for the candidates. Gm workers are potentially taking to the paint line and what could be the automaker pot first walk out in a dozen years. Lets get you started with a check of the major averages. We are seeing u. S. Stocks gaining ground in the afternoon session with the s p 500 higher by half a percent. We are seeing tech stocks leading in the gains. The nasdaq composite now gaining for the first time in four days. Really interesting that we are seeing this move after rotation earlier this week from growth to value shares. The nasdaq composite at the highest level since july. We continue to see more trade news with china exempting some u. S. Products from tariffs. President trump again tweeting for the fed to cut rates. Take a look at amazon, moving at the moment. It has recouped earlier losses to gain about a half percent. This is after news that the ftc is interviewing merchants to sell products on amazon to determine if amazon is hurting competition. Amanda we mentioned the fact that the president may have been looking at easing sanctions on iran. Take a look at this. This is the forecast for Oil Consumption from the eia. It is suggesting 2019 oil demand will be below a Million Barrels a day, 900,000, to be exact. Million itow the 1. 5 backed in january, the first of several large groups that are expected to lower the expectation for consumption of oil. We did see oil taking a bit of a hit today. Shery lets discuss that top news. As amanda mentioned, bloomberg is learning that President Trump discussed easing sanctions on by john bolton argued forcefully against canceling the meeting. It is far from clear if the iranians would agree to talk while top american sanctions remain in place. Joining us to talk about this latest revelation is alex, who leads Bloomberg White house coverage in washington. As we heard about those meetings on sanctions on iran, we also know that john bolton has either been fired or resigned, depending on who you listen to. Could we expect a meeting with the iranians, givethat we have heard from the iranian leadership that they are not interested in this meeting . It is really unclear. It is probably more politically dangerous for the leadership to be with trump than it is for trump to meet with them. The iranians have said they will not do it unless the u. S. Dropped some of the sanctions placed on them. Lets get to the end game, alex. If this is being suggested, presumably that us because the u. S. Has an idea of what it wants in return. What is the expectation for new for denuclearization . Alex trump has indicated a stronger deal in iran ambitions than the one president obama signed into 2015 that one, you may recall, had some time on it. Sort of a 10year deal, after which iran could resume some uranium enrichment beyond the limits in the accord. Trump wants to make a new nuclear deal that would have no time limit. Iran would be permanent the band. Once he also wants the agreement to cover Ballistic Missile programs and what the u. S. Considers malign behavior by iran in the middle east, supporting malicious and that sort of thing, and lebanon. Shery it seems that the president wants a meeting at the sidelines of the yuan general assembly. What form can we expect it to take . It is not just President Trump who cares about the deal with iran, but we have the europeans as well. Alex we dont think it would be a formal meeting at the u. N. General assembly. One possibility could be that french president Emmanuel Macron arranges a meeting with rouhani, and then macron invites trump to join him. It could be some thing a similar as simple as that three of them getting a meeting in a hotel suite. Amanda it is not just that john bolton, who would take a dim view where do the allies of the u. S. Lineup with this . Very israel would be alarmed about the president meeting with rouhani. Benjamin netanyahu has encouraged President Trump to drop out of the iran deal. He has encouraged the u. S. To confront iran. To hold them accountable for the behavior across the middle east, for their missile programs. And to create a new nuclear deal that would prohibit countries from gaining a nuclear weapon. Israel has already been stark about our allies with the rouhani meeting. Amanda thank you so much for being with us. I Justin Trudeau has kicked off canada possible Election Campaign today per liberals are locked in a tight race with the Opposition Conservative Party ahead of the october 21 vote. Neither of the main parties is currently pulling high enough to win a majority of the seat up for grabs. That means the next parliament could be a minority government, more fragmented than the one we have now. Edwin sullivan is with us now. Question. St of elections are longer than they seem because much can happen. Out of the gate, it looks like a tight race. What are the top issues that are really in play . Trust and affordability are the two big issues, but the campaign that kicked off this morning, Justin Trudeau came in to power in 2015. He was the alternative, he was the best thing, the change candidate. He was going to do politics differently. Here we are four years later, and he has a record to defend. He has one big issue here does not want to talk about, which is trust. He has been found to have violated the law twice by the excess cash by the by the access commissioner. Him that is the big problem for Justin Trudeau. It is trust. The people on the left, the ndp, they say this guy, dont trust him. He is not the progress he says he is he is a phony progressive. On the right, Andrew Scheer says this guy breaks promises. Trudeau says all politicians may do that, but unemployment is at a 40year low. We have created 1. 2 million jobs. We have lifted 9000 people out of poverty and we will fight climate change. He won the last election on personality issues. Here we are. Those are the big issue is affordability. Housing, housing and places like vancouver, where the Prime Minister is on his way. Shery your point, Income Distribution has been a key policy of the Prime Minister. View theseers Economic Issues when it comes to going to the polls and voting for the government . Evan it is interesting. The polls in canada right now say that the environment is polling above the economy. But the truth is, they are the same thing. The economy, because Justin Trudeau issued something called the carbon tax, a price on target on carbon or pollution. Suddenly, the environment is no longer a separate issue. It is tied in with the economy. So people on the right, conservatives, are saying that the carbon tax will make everything you buy more expensive. The liberals say, you are forgetting to talk about the rebate we are giving the provinces that we have imposed this on. So climate and affordability are the same issue now Justin Trudeau says i have raised taxes on the richest canadians and have given a break on the middle class. But guess what, there are two words that all parties will talk about and repeat ad nausea him. It is in everyones playbook, middleclass, middleclass, middleclass. Everyone wants to help. Why . Because they vote. Everybody believes they are part of it. Shery we will be watching that book very closely. Work ceo under pressure with initial public golfing on the line. We will hope that you will address concerns and address interests. This is bloomberg. The Global Cannabis industry has been maturing as companies steps footholds across a range of legal jurisdictions. How the images changing since the heady days of prelegalization, i talked to emily, cofounder and managing director of postseiden asset management. We put the fun together in 2012, 2013. It was a different time or there was all must know data about the industry, so a lot of what we were deciding was based on spending time in the field, meeting with different operators. We have come so far from that point where people are entering into this investment landscape, they have so much more information they can call on, including data, driven from the pointofsale and other aspects of the industry, like employment, stats. It is beneficial to investors who are trying to get in now, where we were kind of before all that came available. So we have seen maturation, legalization in canada and in the u. S. , things change a lot. There is a path to travel toward real maturity for some of these companies. How do you navigate that . Which are the overhyped once and which are the real ones . We are focused on accumulating data and information and using that to inform our decisions. So we have six years of information to look at, and comparables to look at. We have always been sunk cost we arecused on the always looking at the operational efficiencies of these companies, so this last few months we have seen quite a draw down in the public markets, and it is because a lot of the companies missed earnings. We were not surprised by that because we have been watching how these companies have been watching the whole time, and we knew that whenever, on the backside of it, there is either a bursting of a bubble or a draw down. We are experiencing that now, and i think it is beneficial to the industry because people will be focused on how are we truly building businesses that will build the entire industry. Amanda one of the early ts, getting away from fundamentals, how do you judge what the right moment for that is . Emily because we have so much time in the space, when we see capital retreat because of the emotions that come up and the fear that comes up when you see stocks going down with it the way that we have. For us, that creates opportunity. Leant to lead into that into our investment basis and we can place bets with those companies. It is interesting. You are comfortable and focused on a strategy, it can be beneficial when people react strongly in the counterweight. We take that as an opportunity. We have done it a few times because this industry has actually had two or three cycles like this over the course of the time we have been managing funds. Amanda that was emily pack khia. Ry companies changing softbank urging the start up for joining us is michelle davies. Bloombergs news and finance reporter. Really, the valuation issue is huge. And now we are seeing that they are trying to overcome all of this. Will it work, though . That is a big question. It is crazy how much things have changed just in the past week. It seems like we were interested in Going Forward with the ipo. Bankers saying if you really want to do this, right now what they are trying to do is say, if you can clean up, maybe we will get a higher valuation. From what we are hearing, things are very much in flux. It is unclear what they are going to decide on. There are multiple problems. On the one hand it has problems that other ipos have had. Moneylosing. The governance issues seem to be the stuff that people are grabbing onto, the feeling that there is selfdealing possibly by the entrepreneur. How much of that can be fixed . How much of that can you say we will make these changes and clarify it all and bring it back to the market . There are a couple things. Womanonth they up to the to their board. Investors concerned about the cost share structure, things that could be tweaked, like how much of that share he gets, or maybe succession plans in the future. When you are a private company, you build this company as your baby, and, you know, you have to make the choice between do i want all this money, do i want to give up control, or do i want to give the control that i have but maybe not as much money as i could . Shery when can we expect a decision . What should we be looking at . Eworks selfappointed goal is to have a price by the end of the month. At this point, theres also the underwriters, goldman and jp morgan, are leading that as well as wework. Of, youd get some sort know, news in the next few days. Again, a lot of this is still in flux. Bloombergs michelle davis, thank you so much. Coming up, the risk of a strike at General Motors reaches a 12 year high. Leaders are heading to detroit to decide whether to the labor deal with the carmaker should be put to a vote or strike. Coming up next. This is bloomberg. This is bloomberg markets. I am amanda lange enter montel. Shery i am shery ahn in new york. Union leaders from across the u. S. Are flying into detroit this weekend to debate the latest contract. They have to decide whether to sue but the deal to their members for a vote or go on strike. Craig, whatthis, are we expecting now . To approachpect gm the United Auto Workers with a proposed deal. We do not have necessarily an iron doubt contract for the union to look at, but what we do have is the existing contract expiring at midnight saturday. So it is sort of getting down to crunch time. It is a potentially dramatic moment. There could be a bit of a letdown in terms of that drama where the union could decide rather than striking to seeking an extension, and obviously General Motors would prefer to see that if they are not satisfied with the offer. But this is definitely a negotiation that is going to be rife with tension. You have gm announcing in november of last year that they have four plants in the u. S. That they do not have future product allocated to. And that really miffed the union. It got Donald Trumps attention. The union has been emboldened by the blowback that the ceo has taken for that announcement. It is easy to see on the pr side, the rhetoric side, how the automaker may be in a tough spot. From a business point of view, it seems the union may have missed its moment. At the moment, it feels more like the high tide is behind them. They are seeing weakness, slower numbers in europe, but in china they will rightfully argue that now is the not is not the time to make big concessions. Craig management is not really in a mood to be super giving. A significant manufacturing presence for gm in this country. We have to give them credit for that. Their presence is growing down there, and the union is very ticked off that the company decided to make the new chevrolet and blazer in mexico in particular. You have seen recent product out located down in mexico. Wages there are a fraction of what uaw members are paying. The the last period since recession, what we have had is newer workers being paid a lower wage to at least protect some jobs in the u. S. And potentially incentivize the companies to continue to invest here. What the union is going to want for those workers is for them to get work it is for them to get raises. That will be a priority. That will help them sort of be able to provide for those members now that there they are a more significant cohort within the membership. Shery and there is also that federal investigation into corruption among you leave leaders among Union Leaders. Is that having an effect at all . Craig the first deal brought to all of the companies after gm, ford or Fiat Chrysler will also be stepping up to the plate. What you have is a situation where the Union Leaders have been accused of being sort of fat and happy and kept fat and happy by the companies, and if they do not come to the union rank and file with the goods, there is a real risk that deals are going to be voted down and they will have to try again. Amanda we will be watching it and watching for your report. Thank you so much for that. A quick reminder, you can catch all the interviews on the bloomberg, the function of course is tv. The events can be found on your terminal. From toronto and new york, this is bloomberg. Devices are like doorways that could allow hackers into your home. And like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. Mark i am Mark Crumpton with first word news. It has been 18 years since the september 11 terror attack. Today america is remembered. At the pentagon, President Trump tod a wreath before speaking survivors and loved ones. The president mentioned his canceled camp david meeting with the taliban. Called them off when i than they kill the Great American soldier from puerto rico and 11 other innocent people. They thought they would use this attack to show strength, but actually, what they showed is unrelenting weakness. Hitlast four days, we have our enemy harder than they have ever been hit before. Mark the president said that for every american who lived through that date, september 11 attack is seared in our sole. A disagreement over irans actions may have led to the departure were john bolton as National Security advisor. Bloomberg learned that they discussed using the sanctions for a meeting with iran