There is a Silver Lining for beijing in the sense it releases some of the pressure. Protesters do not have to go to the street, they can vote . Bill it does. Carrie lam has said she will work with those newly elected Council Members and listen to their points of view and take that into account when she is carrying out her policies. One of the easy steps to take at this point would be to go forward with independent inquiry into some of the police action. That is something even probeijing supporters in hong kong have started calling for. That will be one easy way to show she has heard this message that the election has delivered. Capitalou mentioned the of the United States response to hong kong. Legislation went through congress and President Trump was saying he might sign it and might not. Where is it, exactly . Bill the president has 10 days to decide whether he wants to sign it or veto it. 4,hink that expires december the middle of next week or so. If he does not sign it, it becomes law, with or without his signature. He can still use the time in between to veto it. That is something we are looking for. At this point, it is sitting on the president s desk waiting for him to make a decision. David one final thought on turkey. I understand they are testing those russian missiles. That is not good news for President Trump. Bill it is not good news for President Trump who just met with president erdogan in the last weeks. It will certainly fuel the congressional efforts to sanction turkey more stringently. David thank you so much for reporting from washington. Lets stay in washington with Kevin Cirilli and talk about impeachment. They are not taking off from impeachment for thanksgiving. Kevin they are not. We are expecting new transcripts in the next 24 hours and also expecting a district judge to rule sometime this afternoon whether or not white house special counsel don mcgann is going to have to comply with congressional subpoenas. Meanwhile on capitol hill, the Senate JudiciaryCommittee Chairman lindsey graham, a key ally of President Trump, has said he is opening up a congressional investigation into hunter biden and beyond that, the House Intelligence Committee is beginning to piece together a report, controlled by the democrats, as to whether or not that could be submitted to potentially have articles of impeachment. David is there any doubt as to the way it will come out . Kevin no. The expectation is there will be articles of impeachment and the calculus in the senate is republicans controlling the senate not break with the white house. David we are watching something weve never seen, and impeachment inquiry going on at the same time as a president ial election. Big news, Michael Bloomberg said he was going to run. Who is that going to affect among the democratic field . Kevin unclear. A poll said Michael Bloomberg is pulling in the Single Digits as allowing tier candidate, progressive candidates as well as Elizabeth Warren have largely ,riticized this announcement saying he is trying to buy the election. Over the weekend, former Vice President joe biden picking up the key endorsement of former iowa governor, a prominent democrat in the hawkeye state. The Biden Campaign saying that could show some support. And biden still ahead nationally with Bernie Sanders and Elizabeth Warren and Pete Buttigieg closing out the top candidates. David a disclaimer. Michael bloomberg is the founder and majority owner of bloomberg lp, the Parent Company of bloomberg news. Now we go to london in Jess Shankleman. We had a tory manifesto over the weekend. What did we learn from it . Jess we learned Boris Johnson is playing it safe. The polls are showing he is on course to get a majority at the december 12 elections. The manifesto they put out last conservative. L c it did not contain many radical announcements. It focused on getting brexit done and a big promise for new nurses in the National Health service. He is trying to avoid the mistakes of his predecessor, theresa may, in the 2017 election. It was the manifesto that was her undoing. At the beginning of the election she was pulling similar to what he is pulling now. He is trying to take careful steps and not break this fragile lead he has. David what does it tell us about brexit . He says if you give me a conservative majority i will get it done in a soft way. What about talks of a hard brexit . Jess Boris Johnson has his negotiating tactic previously he has kept the hard brexit on the table and he argues that strategy helped him to get a better deal and there is no reason why he would not repeat that again. As you know, he has this withdrawal agreement, this divorce deal he has to get past. Once they got that through parliament, which is what he hopes to do, the then has to get a longerterm future trading relationship with the eu. Even once he has the divorce deal past, hopefully by the end of january, there is still quite a long way to go, and a new deal brexit does remain on the table. David thank you so much. That is Jess Shankleman from london. Now is time for a check on the markets. We turned to abigail doolittle. Are they reacting . Abigial not much of reaction to the headlines. What you are seeing is investors, traders, wanting to make up for last year, which turned out to be a bad year. As you are pointing out, lots of liquidity. It needs a home. It also seems to be a classic case of climbing the wall of worry. The data is not that great. Last week Industrial Production came out of a year low, Economic Data around the world is not great. The earnings season we just had, it is an earnings recession. There is hope the next earnings season will not be so bad. Investors are planning ahead into all of that. At this point, especially considering valuation, we do not have a trade deal, it is interesting to see we have record highs and also have bonds rallying. David if macro is not putting us in one direction, our people picking stocks more carefully . We have diversions in retail with some retailers doing well, others not so much. Abigial you are right about that. The correlation between stocks and sectors is ticking down. What youre talking about in retail is interesting. Coles did horribly, macys kohls did horribly, macys not so great. Doing other hand, lowes well, tiffany popping on the lvmh deal. , tesla, it is hard to get away from the tesla truck , but those shares are popping. All of the individual stocks moving in some degree. It tells you investors will have to sharpen the pencils and do the fundamental work that there is not just one macro trade at this point investors are focusing on. It does seem investors are hoping for an end of the year tailwind. David tesla truck doing well despite the fact that the windows do break. Abigial that truck is unbelievable. David now we turn to Mark Crumpton for bloomberg first word news. Mark carrie lam says she will seriously reflect on a stunning prodemocracy victory in the territories local election. The outcome was a rebuke of how she is handled violent protests that have divided the chinese territory. As weve been reporting, prodemocracy candidates swept nearly 90 of district seats, forcing beijing to rethink how it handles the unrest. Columbia is facing a fifth day of demonstrations as unions and student groups try to maintain overure on the president issues including education and corruption. It is the latest nation to facemask protests. In recent weeks, antigovernment demonstrations force the governments of ecuador and chile to rollback austerity measures and help drive bolivian president out of office. A shakeup of the pentagon. The Navy Secretary has been ousted in a controversy over a navy seal accused of war crimes. The defense secretary learned spencer had privately approach the white house about a settlement for the seal that was at odds with his public position on the matter. President trump has wanted to grant the seal clemency. Rudy giuliani discussed representing a state owned Ukrainian Bank in a legal dispute this summer, even while publicly pressing ukraine on behalf of President Trump. The bank asked giuliani to assist in its suit despite the dispute involving an entity already under federal investigation in the u. S. Giuliani declined the pace. Global news 24 hours a day, on air and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. I am Mark Crumpton. This is bloomberg. David . Schiffcoming up, adam says he is not waiting on the white house. Pushing forward on impeachment despite the legal battle that has kept some of the biggest names from testifying. We ask our local panel about what comes next. Ons is balance of power Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. I am david westin. A ruling expected as early as today as whether former white House Counsel don began is expected to testify. We welcome our Political Panel from washington. Brendan buck is a partner at seven letters and a former key advisor for House Speaker paul ryan. Also from washington, David Goodfriend, president of the Goodfriend Group and former president former secretary to president clinton. Impeachment is political as much as it is legal. Lets start with you, david, lets talk about the quandary for moderate democrats. Are they in a tough position . Lines, iong those think about conor lamb, who is a freshman democrat and a moderate and somebody who beat a republican and a probe trump district. He has maintained his neutrality throughout. Andink for members like kim Abigail Spanberger from virginia , in a similar situation. They at least have to present to their constituents neutrality going into this so they can say i weighed the facts dispassionately and i took the vote i had to take. Frankly, i think it would be healthy to have crossover between both parties, having some republicans vote for and some democrats vote against, that is probably low but out of touch with reality on my part. I think it be nice to have the country so we do not have a Straight Party line vote. In the end, i think Speaker Pelosi will not have to twist a lot of arms. She will get a majority of her caucus and the majority of the house will vote in favor of impeachment. I do think the freshman the freshman members from swing districts would to themselves to preserve the democratic majority and maintain neutrality going to the process and both are conscious and vote their district. Nobody can blame you for voting your district. David how about the possibility of crossing over the other way . Is there a likelihood of that . There are members of congress who come from more moderate districts. Are they going to want to go back and run for election and say im proud of what President Trump did on that call with president zelensky. That is a hard thing to say, isnt it . Brandon given all of the evidence we have seen so far, moderates saying they will not support it, the likelihood of any republicans voting on the floor for articles impeachment is extremely low. I would put the number at one or does joe at most. Youve seen comments from someone like Francis Rooney of florida who came out talking about he was concerned about this in the next date said he is not running for reelection. There are not a lot of House Republicans in office at this point not a lot of House Republicans in those middle battleground states and the ones are there have not given you any reason to believe they will break with the president. The president has a firm grip over the base of the party, but also the conference. In my experience, the House Republican conference is to Work Together as a team. They do not allow a lot of room for dissent, so i do not expect a whole of republicans to vote for it, if any. David there are other things going on other than impeachment, there is also the nations business, including the usmca. Theres a lot of pressure on the democrats to get that thing done from a lot of different corridors. We talked with adam smith, a congressman chair of the House Armed Services committee, and this is what he said. There are legitimate differences of opinion. Andng sure we enforce labor Environmental Standards as aggressively as we enforce business standards is incredibly important. We are trying to drive a hard bargain on that but i think we will get there. David he says we will get there. You think the democrats will get this thing done . David g. i think if they are dealing with people on the others of the table who are reasonable and want to get a deal done, they will. Im reminded of when i worked for president clinton. I was there during impeachment and we lit a dual existence. Sometimes we would be talking about impeachment and that we would pivot to talking about Social Security and medicare and doing the nations business. President clinton got a number of bills enacted into law during the impeachment proceedings. I think he was applicable genius and i do not think that of donald trump, but it is still possible. It is possible even in the context of Congress Focusing on impeachment, they can still walk and chew gum at the same time and get things done. There certainly motivation to do that on both sides. You have several vulnerable republicans in the senate. Cory gardner in colorado. Similar races in maine and north carolina. Republicans have to be able to show constituents in those states that they are capable of walking and chewing gum at the same time. To go to my colleagues earlier point about the unity of the republican caucus, i think senator mcconnell would be unwise to try to force somebody like cory gardner to tow the party line. They will lose colorado. I think that is the republican way. Everybody fall in line, and they will suffer losses as a result. David we are talking with brendan buck and David Goodfriend from our Political Panel. Lets go to the republican side and talk about the effects on President Trumps reelection campaign. Lets assume their articles of impeachment out of the house and an acquittal in the senate. Does that make them weaker or stronger in 2020 . Brendan you have to look at the election they are running. It is a base election. If that is the type of campaign theyre running, i do not know for her exam. It allows them to rally the base i do not know that it hurts him. It allows them to rally the base. Like youre talking about in the trade agreement, to make the argument they are so focused on impeachment they are not focused on the issues you care about, whether it is trade or drug prices or a host of things that are larger priorities to the american people. I think you have a lot of opportunity to use it to his advantage. I think that if he gets acquitted, he will claim vindication. I do not know that is realistic or not, but that is the way he will use it. There are plenty of opportunities, from the president all the way down ballot these house races, where you are seeing House Republicans hammering these moderate democrats for not focusing on the things voters care about. David David Goodfriend, on the democratic side, we cannot talk about the election to date without talking about what happened yesterday with out talking about Michael Bloomberg entering the race. How does that scramble the democratic field . David g. i would be remiss if i did not say that i hope everyone of the 2700 analysts and reporters feels at liberty to write and research and say whatever they want about Michael Bloomberg. That is the way to run a journalistic enterprise. David that is why i asked the question. David g. i think that what Mike Bloomberg has done is force the Democratic Party to bring into even greater relief, are we the party of wealth and privilege or corporate interests or are we the party of every man and every person and the worker the thearden split bidenwarren split. I think the entry of Michael Bloomberg is on the perceived weakness of joe biden. I have to commend mr. Bloomberg for doing one thing i think is productive. Spendted his intent to his time and money focused on criticizing President Trump in key states, not on warfare between other democrats. That is extremely important and extremely helpful. What it means is youre getting real resources but behind the real question in this election. There is only one question you want four more years of donald trump or not . He is bringing that into great relief and i think that is wonderful. David brendan, one last thought on your side. As the entering of Michael Bloomberg an indication of weakness. A lot of people think the field before Michael Bloomberg is good. Brendan it certainly shows he thinks joe biden is a week moderate front runner. That is the lane he is trying to get into. If he is successful he will have to rewrite the playbook of how these things work. He has already said he will not play in the yearling states, which in the early states, and he will not be able to get on the debate stage. We will see if the resources he has are enough to overcome that. David many thanks to our panel of brendan buck and David Goodfriend in washington. Michael bloomberg is the founder and majority owner of bloomberg lp, Parent Company of bloomberg news. Ons is balance of power Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. It is time for the stock of the hour. Teva pharmaceutical is trading at its highest level since may on reports the company is in talks with the Justice Department to resolve the criminal antitrust probe. Kailey leinz is here with more. The pricefixing thing. Kailey they have been looking into it for a very long time. This is essentially more than five years that has gone on in the allegations are that the company got together to split up the market so they could keep prices high. They say the allegations have been damaging to patients and other customers of the generic drugs to make up 90 of the stock market. Anyas not resulted in criminal charges against any Major Companies as of yet. Just a lot of issues about finding credible witnesses willing to come forward and the fashion limitations for a lot of these the statute of limitations for a lot of the allegations will be up. The clock is ticking. There may be more incentive for an agreement. There are reports teva and some of the other companies are in talks with the doj. They admit to some of it, may have to pay a fine, they cooperate with investigations but do not get indicted. That is key for teva because they continue to work with Government Programs like medicaid and the federal officials have an incentive. If you do file criminal charges that can bar them from working with medicaid and you take more competition out of the market and inadvertently raise prices, which is what they are trying to avoid. David there are damages. There is civil law and the United States. If they are found guilty, there are legal problems they have. Kailey it is not just the criminal probe. They are facing a lawsuit from 48 states, and that is the civil allegation. Even if they do settle with the doj, that could boost the civil case should they admit any wrongdoing. In regards to outside of generic drug pricing, you also have the Opioid Epidemic and are some potential liabilities with that. A lot of legal issues. David but today is a good day for teva. Kailey so far. David many thanks to kailey leinz. Speak withwe will the former u. S. Ambassador to china max baucus coming up next on balance of power on Bloomberg Television and radio. When it comes to using data, everyone is different. Which is why Xfinity Mobile is a different kind of Wireless Network that lets you design your own data. Choose unlimited, shared data, or mix lines of each and switch any line, anytime. Giving you more choice and control compared to other top wireless carriers. And now get 250 off when you buy a new Samsung Phone during Xfinity Mobile beyond black friday. Plus, you can save up to 400 a year. Click, call or visit a store today. David from new york, this is balance of power on Bloomberg Television and radio. Im david westin. For bloomberg first word news, we go to Mark Crumpton. China is trying to address one of the sticking points in trade talks with the United States. Beijing will raise the penalties on intellectual property theft. China will also look into lowering thresholds for criminal punishments for those who steal ip. Hasimpeachment process reached a decision stage. House democrats are starting to compress weeks of depositions of the documents, and testimony into a report. It is almost certain to result in articles of impeachment against President Trump. Has not ruled out more hearings or other areas of investigation. The president is preparingthe po pour hundreds of millions of dollars into florida next year. Changes in demographics and voting laws have put the state up for grabs. The president when the state handily in 2016 but republicans land to make the race expensive. Spend more than 200 million in florida. Takeel bloomberg plans to an untested test to the president ial race. Bloomberg announced he will run the enter the race for the nomination. He will skip iowa and New Hampshire and instead focus on california and other states voting on super tuesday. Michael bloomberg is the founder and majority owner of bloomberg help the, the Parent Company of bloomberg news. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Thank you. Hong kong voters have handed an overwhelming victory to prodemocracy candidates in local elections over the weekend, and they did it in record numbers. To explain what this could mean for hong kong and beijing, we welcome on the telephone max baucus, former u. S. Ambassador to china. Thank you for joining us. Give us a sense from your point of view of how important these elections were. I understand they were local district elections but still a remarkable result. Max yes, it is. The protesters got a couple of victories. The passage of the rubio ville status tokes special hong kong in certain conditions. Second, the local elections, it is local, it is not the legislative body which is still controlled by probeijing members. Local elections indicate people are very upset with the management of hong kong by the Hong Kong Government, pushed by beijing. That will force beijing and the Hong Kong Government to recalibrate. David as i understand it, this is the one election they have were these universal suffrage. So there is an indication of where the popular sentiment is. At the same time, couldnt believe some of the pressure from beijing . If you are a protester, you now have another way to make your views known. You do, and regrettably, 1997, the handover in hong kong was promised by china to move toward universal suffrage. Three times it caps on getting put off year after year. I dont think you will see universal suffrage in the sense that we americans understand it. Still, this is an indication that beijing will have to slow down a little bit as they try to bring hong kong into the Mainland China fold. Carrie lam, the chief executive, has some problems on her hand. Help the to demonstrators but not in a way that will insult beijing. I was talking to carrie lam about two months ago, and she looked at me and said, it is tough serving two masters. She has to serve beijing but also the people but basically it is beijing that controls. David you were our u. S. Ambassador to beijing. Today, we received word that our current ambassador has been summoned by the Chinese Government to be read the right act about what they believe is interference in hong kong. What is the significance of that action . Summoned three times. It is important. The host country is expressing its views. It is very upset with what the United States has done. Case, im sure the action passed by the house and senate potentially revoking special status for hong kong. Beijing does not like that one bit. It has some effect but basically it doesnt determine what the next course will be. David you said you met with carrie lam over the last couple of months when you were there. Did you get a sense of what she thought she could do to bring this to a positive conclusion . Max she is in a tough spot. I asked if she would run for another term and she says, no, im not running for another term. I dont even want to finish this term. She is a bureaucrat. Very sympathetic with the people of hong kong. She grew up as a social service worker, helped poor people in hong kong, did a great job with it. That is partly why the beijing government tapped her to be the chief executive, but she is caught between beijing and what is right for the people of hong kong. David it must be the case that beijing wants her to be there. Why do you think that is . Woman, she is a bureaucrat, that is, she came up through the government. She was popular before she became chief executive. After that, who would replace her . Her,ijing wanted to place they would be as the holden to beijing. Will probably be just as probeijing. David let me ask you about the trade negotiations going on. We had word from china that they would be willing to toughen their intellectual property provisions. Something that you and i have talked about. Peoplesame time, some say, whatever china agrees to, they dont often do so. Here is what rick scott recently said. I dont believe they will change. They have not given us any evidence they will change. President xi also committed to terms in a contract earlier this year and then changed his mind. It is consistent with communist china. They talk a big game but never comply. David we are talking with former ambassador to beijing, max baucus. Was that your experience with the Chinese Government, do they follow through on their trade agreements . Know some have said they have not followed through on their wto commitments. Max the truth is somewhere in between. I learned pretty quickly i came up with my three ps. You have to be patient, positive, and persistent. If you stick with it, after a while, you get results. The difference between the u. S. And china is clear, there is no independent judiciary in china, no way to force china to live up to their word. So you have to keep working with china, developed relations with the chinese, be positive, keep working at it. To their word. So you have to keep working with you cannot let yourself be bullied, but you have to keep pushing, be persistent in a positive way. Gradually, you can get results. David at the same time that we have this ongoing trade dispute, we are also coming at china with hong kong and also the uighurs out in the west. Talked with ben carson recently and this is what he said about pursuing human rights issues and trade. You cannot run away from what makes America Great nation it is , and that is standing up for human rights and democracy. We can do both. We can work out a trade problems with china as well with making sure they comply with the commitment they gave to the people of hong kong. David is that your experience, can beijing segment those things and deal with the human rights issues on the one hand, and train on the other, without the two getting put together . Frankly, it is the United States that is linking everything together. Has, too, to some degree. The uighurs, hong kong, tibet, they are all important to president xi. He cannot lose control, that is so important to him. Western china, he is trying to ify that population, bring in more chinese. M in acontrolling the terrible way because he wants control. He is a control freak. He does not want any group to get a head of spain esteem to question his legitimacy. We can do what we can with the uighurs. Frankly, there is not much we can do we can say we stand up for freedom and democracy, and we do. People do see it, the chinese people, see that america is still the beacon on the hill. They like that, but they know they will not change china very much. At the same time, they want to keep working, improve their livelihood, get that her jobs, put businesses together, and run their life the way they know it. David always a treat to have you with us, mr. Ambassador. That is max baucus, former chairman of the Senate Finance committee. He is known in washington as a fierce conservative, but in his new book, he says the term has gotten apply to all sorts of things that are not really conservative. Jim demint joins us next. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Conservative and progressive are thrown around in washington every day. Jim demint more than most has identified with the conservative label, but in a new book entitled conservative the former eep, the tries to make sure that we know what we mean when we say conservative. We welcome jim demint coming to us from greenville, south carolina. Welcome, senator. Give us what you think of it at the core of what conservative really means, or should mean . Conservative is about being grateful for the people that came before us, who left us the things that make our life meaningful. Conservative is knowing what works, what makes life better, and knowing how to keep it. Politics has very little to do with it. We have the republicans and democrats who have become very divisive, and a lot of their rhetoric divides the country. Most of my life was outside politics. I know theres a lot that unite people even though we are very different. David one of the points you make in the book, identity of a society has more to do with things like values and traditions than it does with politics, but increasingly, we tend to identify society with politics. Jim it is true. If you turn on the television, its all politics, particularly if you are watching cable news. But very little is covered about what is pulling america together. People get along just fine. They are very different, but as long as they can make their own choices about the things they value, live their lives the way they want to, then they can get along with people who live very differently and believe very differently. People are surprised to hear that one of the tenants of conservatism is celebrating and protecting our differences. David lets talk about some specifics and how you would apply the conservative to the progressive label. Specifically, civil rights. From dr. Martin luther king jr. In your book. We tend to think of conservatism as less not change too much, stick with traditions. Certainly, segregation between blacks and whites was a firm tradition, and it created division. Do you think that was rightly divided . When brown versus board of education be decided the same way as today . Jim we should not have segregation based on race. It was an injustice, a contradiction to our constitution and the original values in this country. One of the points we make in the book is we have not completely fulfilled the ideals and a constitution. Martin luther king refer to it as a promissory note. That tension today is throwing the whole thing out and saying it was written by a bunch of bigots, or understanding what parts of it has made america the greatest country in the world, and identifying the things that we are not doing well. That is the whole idea to move forward. Take those things that work and move them into the future. But if it is not working, if it lets just, not fair, throw it out. David we are talking with jim demint. Lets throw it out. Want to talk about tribalism. There is a lot of division, as you focus on in the book, in the country right now. You say we should have a lot of decentralized government, we should delegate a lot. How can you preserve that decentralization without it turning into tribes bickering with each other, which feels, some days, like what we have right now . Reflected moreis in the political seer than Civil Society. Toyou look at people going school together, Work Together, they play sports together, they socialize together, and they tend to throw out the differences and enjoy it. Politics, particularly politicians, use differences to put us into group and play us against one another. That is where political power comes from, the old against the young, the poor against the. Ich, white and black everyone in politics seems to be suggesting that you need the government to protect you and to referee. There is certainly some of that going on in our country, but for the most part, if Civil Society is allowed to work with families, community groups, churches, if it is decentralized, you will see a lot less of this tribalism and much more community. In the middle of that, a lot of individualism being very different in their own lives. Your i would love to get thoughts on leaders in conservatism today. Take yourself out of it for a moment and summarize the four principles i took to your book. Submission to god and authority, celebrating diversity, property rights, and traditions as a quality control. Would you say that donald trump is a conservative leader . Most people would pause when they say those things apply to him. Trump dont think donald came to washington as an ideological conservative. I doubt if he has read russell kirk, which we spent a lot of time burning forward in the book. A lot of his policy ideas are based on experience and common sense. In the book, we point out, a lot of the ideas about things that work, if you give themin the tir commonsense ideas. Many of his policies have been very commonsense based on his years of Development Experience which translates a lot to the political sphere. But the conservative leaders i would see today, it is really hard to find them in the media. I would have to go back in history. We bring a lot of those in the book. People like russell kirk and his book the conservative mind broughthard to find them in the. The writings of a lot of people who had looked at the world for many decades, several generations, to point out these principles you talk about, that we are all better off life is more meaningful if we understand these basic things that we can keep. I think you mentioned most of them in the first part of the book. David really appreciate you being here. A genuinely thoughtful book that i enjoyed reading. Jim demint, former senator from south carolina. How are we going to get all of those packages over the holidays . If ups gets its way, we will get some of them from temp employees driving their own cars. What is coming along with santa claus this year. This is balance of power on Bloomberg Television and radio. On and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Ups has announced it will not just have brown vans that deliver packages over the holidays, it will be using temporary drivers using their own vehicles as well, which has the Teamsters Union not too happy. To talk about it, we welcome the lead class, from prince in, new jersey. The understand it, ups had union for the drivers, but will be hiring some temps. They traditionally hire workers during the peak season, where buying can increase 50 . What is different this year is the peak season is condensed, and they expect volume growth, so they will have to deliver more in a shorter amount of time. The season has been condensed from 32 days last year to 26 this year. That is significantly going to put pressure on the network. Ups or fedex does not build the network for peak season, just like you dont build your church for easter sunday. Need temporary or fedex does nt workers for that. Ups is looking to have some of their temporary workers using their own vehicles to deliver packages. Not only are they going to have to deal with the peak season which is condensed, additional buying some of which could be around 5 this year in ecommerce, but you also have need temporary workers forg that ups won after fedex ground walked away from some business. David what about the alternatives to ups, fedex, amazon . Do they have unions for the drivers . No, they dont. Ups is somewhat unique related to its competitors. That really is one of the challenges they have to deal with. Historically,is, they have had a Good Relationship with the teamsters. No major strike in 20 years. They are murdered one about 18 months ago. The unions have shown their ability to be flexible. Ups is rolling out sunday delivery next year. That was kind ofthat was kind oe years ago. The employees and Union Members at ups understand the challenges that the Company Faces in order to increase their presence with ecommerce business, which is the growth area for the company. It does come with lower margins, so there are technologies that , getting anemented unions to sign up, and they have. David sounds like a matter of degree more than kind. Klaskow. Nks to lee coming up, we will continue on Bloomberg Radio in our second hour. We will talk with jenn ree about whether their antitrust concerns with the charles schwabameritrade deal. There are some issues being raised. That is coming up next. This is balance of power on Bloomberg Television and radio. Everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. You can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of Wireless Network, designed to save you money. Switch and save up to 400 a year. And now get 250 off google pixel 4 during Xfinity Mobile beyond black friday. Thats simple. Easy. Awesome. Click, call or visit a store today. Mark im Mark Crumpton with bloomberg first word news. Turkey has begun testing air defense radars at the center of a dispute with the u. S. May the car the Missile System from russia, a move that could lead to u. S. Sanctions. They have sparred over the potential risks of the Missile System. Right police in hong kong today blocked hundreds of activists from advancing into the polytechnic university. They want an end to the siege now. Local Authorities Say they will send a team of negotiators into and theus to find remaining holdouts. British johnson is trying to consolidate his lead in election polls. He has unveiled the conservative Party Manifesto promises tax cuts and pledges to hire 50,000 extra nurses for the National Health service. The Prime Minister is also vowing to get brexit done. The British Election is december 12. An agreement to make the European Union the first climate neutral region by 2015 is said to be the biggest challenge up for discussion at that years