Seem more hawkish. Policydiscernible] stimulus if necessary and suggesting there is no significant change to the Monetary Policy outlook and that was more a, the accommodative in keeping Interest Rates on hold. We are looking like we would have gotten below that. And tied the other way around. Absolutely and politics deftly off in terms with the rise of this increase political turmoil. Sentiment, continues to be depressed. Lets look at some of the assets moving out. We have a lot of options favoring the yen. Weakening against its japanese counterpart this morning. Hereyear yields, the story , 39 basis points. I think 38 was the lowest ever. Of course, we are past that, 39 right now. Saw bitcoin at about 8,000, significant recovery. Not registering the same sort of volumes that one was expecting. Bitcoin continues to fall in its tad. But recovering a lets have a look at some of the world News Headlines first word News Headlines i should say. We start with President Trump. He has taken a new, hardline stance against china. Ruled out accepting a bag bad deal and accuse beijing of manipulating the yuan and stealing intellectual property. His comments come less than two weeks before trade talks are set to resume in washington at a separate event. China said cooperation was the only way forward. The American People are absolutely committed to restoring balance to our relationship with china. Hopefully we can reach an agreement that will be better for both countries. I have made very clear i will not accept a bad deal for the American People. You asked that the country has been ripped off, is that so . That this is not the fact. The incoming president of the European Central bank says she is confident that the global recession. L dodge [indiscernible] and the trade war. Over the lagarde takes ecb at a precarious time. Imf, growthat the estimates were the weakest since the financial crisis. U. K. Prime minister Boris Johnson is remaining defiant in the race of the countrys top judges, saying his suspension of parliament is unlawful. The Supreme Court said it was prevents elected politicians from doing their democratic duty. Johnson says he disagrees and will deliver brexit next month. Appeals [indiscernible] president must and what he calls a legal sanctions. President trump has hinted on eventual negotiations, but also walks a tough line. Global news 24 hours a day, powered by more than 2700 journalists and analysts and at tictoc on twitter, in more than 120 countries. A rosy debut here in shanghai, shares down 4 . Million 410 million. 20 pressures from antigovernment protests in the andy u. S. China and the u. S. China trade war. The ceo of aith latest Biotech Company in hong kong. Thank you or joining us today. I would like to start the conversation with your ambitions for china. Lets start off with lymphoma treatment which is priced at 830 discount from the original. How much market share are you looking to take on . We are here for market leadership. Not only do we want a significant portion, we also want to take a leadership position, so it is our mission to provide patients with high. Uality medicine we hope we can achieve that goal. How much do you think you would be able to take on . Eventually, 50 of the market. Yours was the first approved by china back in february, so how big [indiscernible] and are they your key focus . Only one tier market tier one market and that is china. Opportunityrab the because there are so many need in china and so many patients that have not been served these wonderful drugs. Our hope is to increase the survival rate in china. Understandand i there are two [indiscernible] what does it look like . Year. Filed earlier this butonly for china approval, u. S. Approval in june of this and wer these two drugs are going to file the more next. Ear you are looking overseas, preparing for a product launch. Youll be traveling to the u. S. As well. Strategy for getting to International Markets are twofold. We are going to keep high tolity standards and be able pass inspections and secondly, team up with international. Ompanies for business collaborations, team up with national channels. You will be pretty busy with it u. S. , europe and indonesia what else are you helping hoping to target . Initially, emerging markets. The need is maximum. People in emerging countries need medicines. By being able to provide them at an affordable price, we hope we can help those countries. Slightly less than the 600 million target initially had, you had 400 tinley dollars raised ultimately. Are you concerned that trade tensions could affect stock prices . The market go up and down. Go. Youre ready, you will , you never know. Willually, investors recognize our value. Our strong pipeline provides value. What kind of learnings can you take away from the Biotech Companies before you . Some shares falling 70 since listed. I think the prices are still very stable. We are very encouraged. [indiscernible] in expectation to look their . There. I believe we will continuously keep our eye on the situation and hopefully we can have some discussion soon. Very competitive field. What is your strategy to outshine competitors . Is havingategy minimal risk reduced. Invest in the] we innovative products. That is our strategy. [indiscernible] it will provide upside for us. Thank you. Back to you. It has remained potential as far as stock prices. Lets tell you what is coming up. We are talking brexit. Johnson refuses to quit despite the link being slapped down by the courts. This is bloomberg. The actions of the Trump Presidency reveal dishonorable fax of the president s betrayal of his of the office, betrayal of [indiscernible] and betrayal of the integrity of our elections. Therefore today, im announcing impeachment inquiry. She cannot decide unilaterally what happens here. Aisle. Sides of the for more on the impact of this am a we are joined by derek wall bank and mark. Is forming an impeachment query. Can you break down how this happened and where we go in this process . We have been going on investigations on President Trump since he basically started in office, but this represents the very beginning of the impeachment process. It is a formal process here in the way that it works in the United States is that you sort of building case and then you bring forward something called impeachment and impeachment is bringing up charges essentially. If the house recommended impeachment, the president would be impeached and it would go to the senate for a trial and conviction or acquittal. As you very well know, republicans run the senate and they have taken to this idea of by large like it is a web balloon. They are not interested in it. They are saying this is just a witchhunt, so you are not actually looking at likely removal of president of the office. What you are looking for is an enhanced ability for congressional investigators, particularly in the house to subpoena the president and find out some details of what is going on with the whole ukraine situation. Mark, jump in here. People are starting to look at this situation like 1998 when the impeachment process began and what happened is we saw a selloff and then stocks rallied. It is almost like a buying opportunity. Whatare you seeing now on is next in this part of the world and what does it mean for markets now . Of course, the conditions quite a lot different to 1998. At that time, global free trade just kicking off. We had lots of good tailwinds for the global economy. Somewhat different this time. We have this trade dispute going on with china and we have the concerns about Global Growth contracting and so you put those things together and it might not be easy for equity markets to shrug it off this time around. The last time, we also saw the u. S. Dollar was fairly strong during clintons impeachment and this time around, we have the fed lowering rates. That might not be quite supportive. Also, u. S. Treasurys act as a global haven where his last time [indiscernible] theres quite a thedifferences compared to time clinton was impeached. Just looking at todays reactions, gold is on the way up and the dollar under pressure. Is it impeachment or Everything Else on the table . Lot is to doite a with the fact that donald trump took a pretty hardline approach against china during his United Nations speech. I think considering talks are supposedly coming up, investors are hoping for a softer stance against china to encourage people there was a deal coming, so a bit of a shock that he took such a hard line in that way and you can see the kneejerk reaction in the dollaryen in particular. Typical of what we would expect for treasuries. Almost, the kind of haven trades that we have gotten used to, anytime the u. S. And china have been at each others throats the last couple of years, the markets are more concerned about that been the impeachment process. This really came out of left field for me, this whole ukrainian business. Tummy a bit about what happened. Tell me a bit about what happened. We have thehink whole hour to talk about every single thing that the president is under investigation for. If we are talking about ukraine, we are talking about this allegation that President Trump has tried to get ukraine in some form to give dirt on a political rival. Remember during the whole russia stuff, the president tweeted out no collusion. This idea of getting a Foreign Government to do your dirty work is you in a u. S. Election kind of beyond the u. S. Political system, so that is the crops here. Crux here. Theres a question of whether. He president held up aid biden, who was involved with the Ukrainian Company making a lot of money for doing not quite sure what. Former new york city mayor rudy giuliani, who is also the president s lawyer attorney, has been trying to get dirt on the whole situation and there was question a question is whether giuliani was an official mouthpiece providing support. What it comes down to is trump trying to get a foreign power to dig up dirt on a political rival. What are the chances now that chuck trump gets taken out of office . By amoved from Office Republican majority is the real question. Ask yourself, what is the chance that republicans take donald trump out of office . The question of whether or not this hurts him at the ballot box, that is a very different question altogether. It certainly gives the democrats more ammunition to go after the president. It gives them a wide latitude to go in and try to find some of this stuff out, but the underlying question of going to a foreign country to try to dig up dirt on your arrival, that is something a lot of republicans think is beyond the pale, but right now we are not seeing them come on board at any level. Team, boththank our in singapore for us this morning. Coming up, we will hear from coo. An sachs this is bloomberg. We are having a latest look at the business flash headlines. The combined market cap of these talks tumbled by 56 billion. Investors took that as a sign big techcome Companies May face scrutiny. Expectedt at apple are a bigger than expected drop for iphone sales. Deutsche bank says prices will likely fall around 5 next year concerns,ts project saying there was limited excitement with more interest focus on lowerpriced versions. Rival. Es plunge of tesla bubble concerns that the in the eb market may be bursting. Calls have prompted neoto raise a few hundred Million Dollars in extra funding. That made some analysts speculate as to whether the company can actually survive. Tokyo. H break there in everything from sushi to [indiscernible] if it is a cold day. Bring that one up because we have a falling market. The ceo of sony saying they need to rebalance the equation away from entertainment and get back to a place where engineers 10 dream big engineers can dream big. Also, mario kart [indiscernible] today. About when and if it will ipo. That is the imperial palace. This is bloomberg. Waso advise her majesty unlawful. I welcome the judgment this morning. It had the effect of preventing the ability of parliament to carry out its constitutional functions without reasonable justification. And abuse of power by him. Right, but we will go ahead and postpone the contact. This is a win for parliamentary sovereignty. Rishaad key figures in the Legal Process surrounding that court ruling. Leading the challenge in the courts. Parliament is set to reconvene. He is vowing to deliver brexit on halloween next month. Overnight, weg are getting back some of those gain some major currency markets. Eurodollar 110. Time to bring up the brexit barometer. Is negative, that basically means that the wellbeing of the account economy is below average. Just keep that in mind. He has been following all of this and he joins us from singapore. It was fascinating to hear from the Prime Minister. Not a single headline. Ell us what is next what you do now . Now more calls for him to resign . There is a call for him to. Esign any country would do the same thing. This is a job that he has always wanted. How he proceeds is the key thing. Is an issue. Ere if a new deal has not been reached with the eu, he has to ask for an extension. How he does that, nobody is sure. Does he deliver or not . Noconfidence vote will increase. Him hasagainst increased. The sterling would rally to take the deadline off the table. The realistic outcome of that is an election. Could be wrong, but if the polling turned out to be correct, there is a chance that Boris Johnson would be back in as Prime Minister by the end of the year. If he had the majority, he could say, i have a mandate for a brexit. A noconfidence vote and then selling off when they realize that no deal is the most likely outcome. David, thank you so much. Lets get over to su keenan in new york with an update. Japan. Start with bank of governor kuroda has been speaking about Interest Rates, triggering speculation that he will act next month. Inser to taking action then july. However, he be iterated a policy review that shortterm rates would have a more powerful impact. I do not think that we need to rule out cutting out negative rate at this point. The policy Board Members will reach an appropriate decision on economic price and financial conditions. Meanwhile, philip lowe says he is seeing a pickup in the australian economy. However, he stopped short of flagging the imminent moves. They have not been through a soft patch. Return to expecting a strong Economic Growth. Main source of domestic uncertainty is household spending. Su brazil is dismissing what it the rains, saying forest is not burning down. Nations thatnited they occur in dry weather. The amazon is not being devastated, nor is it being. Oomed by fire that domingo has. Greed to withdraw his first u. S. Performance since they made the harassment report. Strongly disputing the allegations. Global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. Rishaad goldman sacs president meeting in beijing. The risks in the world are affecting the markets. Particularly, i would say as it relates u. S. Economy. Policy. Think about the juxtaposition and u. S. Growth. That is driving decisionmaking on allocation right now. In terms of ipos as well from your client. Is it starting to slow down to mark still a good time to transact. We see a regular flow of activity. It is a little less constructive than it was or nine months ago, but we see a wide open market. The slightly weaker data that we got overnight an indication that they are starting to impact the consumer . Our view would be that there clearly slowing down. That is only by about 10 . The u. S. Economy is built by the consumer. Our view would be that you will see low to mid growth. We are still looking at the data carefully. It a drag on the market. Today become a longer drag for the markets or is this a buying opportunity. For a long time, we had a pretty modest premium in the marketplace that is starting to change. It is an element that will be injected in the marketplace. Coming up, the Corporate Tax cut. Hearing from the officer, next. You are watching bloomberg. Yvonne we are counting down to the opening of the session in india. Us. Ding by in mumbai for this euphoria in stocks for two days. How are we looking now . There was a little bit of a pause. This is exactly what we are expecting from now on. For now, we are keeping an eye on it. It was the banking sector, which is once again under pressure. However, in today, we are keeping an eye on exporters. It is something that kept markets in check. The reason why we did not see as much of a fall. We will have to watch out for that as well. Rishaad just getting this line breaking at the moment. Well, we have this line coming through at the moment. Preparing to buy more u. S. Pork. Cause and effect, perhaps. Yes. We kind of needed. Your pocket. In moving back to india. We talked about how these have lifted the market. Justin will be joining us in a couple of seconds. You look at the markets, you had a little bit of an uptick. Rishaad we are waiting for our guest. What we have at the moment is people staying away from thailand because of the strength. That is not really something that has been agreed to by these numbers. 7. 3 up year on year. Talking cut it ratings. Have you on the program this morning. Thank you for having me. Go ahead. The introduction of the Corporate Tax rate is critical in india. Extent varieshe from issue to issue. Rate reduction. If you look at the market reaction, do you think that participants thought that this might be some of the corporate road corporate woes that they have been suffering from . The underlying is what they do with the tax savings in terms of the business. They produce prices that could in turn boost demand. They are already unveiling some tax exemptions. Obviously, they do not benefit from the production. Rishaad that is just it. When you look at the exemptions and gives, you have the choice of keeping those were going with a new rate. You cannot have both. Is it given with one hand and taking with the other . Not as positive of a position before this . You could argue that we are back to where we started to some degree. From industry to industry. Also, most of those pay taxes. The reduction would be beneficial to them. As industry goes, most of them would be unveiling tax exemptions. The mining companies, the tax rate they would benefit from that. Hey will benefit yvonne from a sovereign stillctive, is that realistic . Bonus. So got this is that enough to offset the revenue . I would like to talk about the corporate. Where are you likely to see the most upgrades this year . We see them as emerging to be negative. The Economic Growth that we expect is around 6. 2 . Overall, Economic Growth will remain sluggish. Commodity prices will remain volatile. Earnings expansion. Most of the issuers have large debt on the balance sheet, so i do not see a lot of upgrade potential to our portfolio. They are challenging. That lastickly on point, what you are saying is this does not change that overall trend. Not really. Translate into something. Or if it spurs a reduction, we need to see that. Ano not necessarily see impact. If your corporate shareholders , which of those do you think is the best thing to do . From a business standpoint, if the company chooses to reinvest, they would benefit tomorrow. It . Would you look at for would you look at Monetary Policy . I did not catch the question. Where rishaad where does it leave the reserve bank of india . Rishaad thank you very much. Coming up, speaking to the chairman, asking him if recent turnaround the industry. That and more on the way. Yvonne lets do a quick check of the latest flash headlines. A rare dollar bond. Roadshow. Host a the ceo and chairman have both resigned. They have agreed to cut salaries to help reduce cost. Taking part in a no pay leave. Rogram rishaad we will keep the aviation theme going. Considering a switch. Continuing to grapple. Consider it ifl boeing decides to buy one. Seven when out of it went out of production. Lets have a look at the chinese economy. Third quarter was the weakest it has been. Basically, everything. Our own tracker at bloomberg, which is consistent with a narrative, when you have average growth around 8 . Yvonne we are talking about the bank in thailand as well. Again. Ut and lets bring in michelle, our economy reporter. Is a back to back cut warranted . We will see. It is a different question if it is warranted. Seeing them hold at 1. 5 . On the hawkish side, they have been more in that direction relative to their neighbors in the region. They are looking at Financial Stability issues. They have dealt with it a little bit to financial measures. They will decide whether or not the august cut was enough for now. The strongest in asia basket this year. Expert. A way on sluggish growth could push them in a more dovish position. But the majority seeing that they will hold today. We will be looking at these arrivals. The Hong Kong Market on the way down. There we go. Beautiful day. 6 lower. We have other markets in this part of the world heading in a southerly direction. Taylor i am taylor riggs in san francisco. This is bloomberg technology. Coming up, newman is out. Adam newman steps down with the ipl on the line. Now what . And google scores a win. We will have more on the right to be forgotten. And more disruption