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Transcripts For BLOOMBERG Bloomberg Markets Balance Of Power 20240713

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Up at a pro forma session and talk about this . What are we expecting . Will he give her ground . Anna probably not. The Senate Opening for a pro forma session. The majority leader will be here. We expect him to speak on the floor. He will probably criticize democrats, especially noting House Democrats have said they had to push this impeachment process through last year because President Trump is such a threat to the 2020 election that he was continuously interfering in what is going to be the next president ial election. They had to do this quickly. Now that they are delaying these articles, it goes against the point they were trying to make. David over the break we had a second senator showing they did not like how this was handled. We had Susan Collins joining lisa murkowski. Is that showing a shift . Anna those of the republican senators we would expect to at least show some independence. Their complaint was they were concerned about the impartiality of their colleagues. Mitch mcconnell had said he did not consider himself to be an impartial juror, which is a bit concerning, especially since he had described how he was working with the white house to shape the contours of the trial, essentially working with the defendant. They wanted to make the point they want an impartial process, a fair process, and one that has the confidence of the american people. David it sounds good to me. Now to bill allison. We have fundraising numbers that are catching your attention. Bernie sanders was the one i saw today. Bill he put out a number this morning that he had raised report . 5 million. 34. 5 million. It shows he has tremendous staying power as a candidate. He has had more than 5 million donations, not individual donations. A lot of his donors continue to give and continue to give and that has been what is fueling his campaign and why it looks like hes going to be in it for the long haul. David Pete Buttigieg put up some numbers earlier that were not too shabby. Bill he raised 24. 7 million or more. His campaign jumped the gun on new years day and put out there numbers. He has raised 76 million overall. He is spending a lot of money in iowa and a lot of times the way it works with these campaigns is you can catch fire in terms of bringing in money but also National Attention and pulling numbers if you can win one of those early contest. He has put a lot of his weight into iowa and is spending a lot there. Being able to raise that kind of money allows you to do that. Perspective, it in we also have numbers out from President Trump that blew everyone away. Bill he raised 46 million which i believe is the biggest quarterly number a president ial candidate has ever put out. Thatwas just his campaign, does not include what the Republican National committee is raising are the joint Fundraising Committee that are helping his reelection effort. The 46 million is a significant number. The comparable number four barack obama in 2012 was 40 million. He is well ahead of that. Bill many thanks to allison reporting from washington. Now we go to london where brian swint is reporting on eurozone manufacturing numbers that were disappointing. 11 month straight, brian . Brian the Economic News was disappointing. The surprising thing was we were expecting things to get a little bit better or not get any worse. In december, a promise of a trade deal between china and the u. S. , more stimulus from the European Central bank, more certainty around brexit. Despite all of that, the numbers dipped down more and it was a gauge of confidence among manufacturers continues to slump. David germany seems to be leading the way down. To what extent is this brexit hangover because we are not sure what happens with the trade deal , or is it china . What is it . Then it is probably more global trade tension that is hurting germany. They export all over the world. Brexit is important but more of a sideshow in the general sentiment in the Global Economy. It was distracting because there was reason to be more optimistic last month. David thank you so much for reporting from london. That is brian swint. Now it is time when we get a check on how the markets are reacting to the top stories with Abigail Doolittle. I thought i knew what you are talk about a what you would talk about because it is green all over. Abigial last years themes continuing into this year. Happy new year. Not surprising to see this rally. The nuances interesting. We have haven assets rallying. We have bonds in the u. S. Rallying, also german bunds rallying and the japanese yen rallying again. Some folks are taking caution even with stops up. David gold is up again. What is going on . People are hedging at the same time they are investing . Abigial we are not completely out of the woods. Last year was so volatile relative to headlines. We had less than constructive pmis out of europe. Mabel the Global Economy is not as strong as folks are expecting. Everyone thinks the global trade deal we signed january 15, but that puts us into phase two. Pat, some is staying folks might be worried about stops and hedging their bets with some of these haven assets. David the fed may be standing pat what the pboc is not, they come out with more stimulus. Abigial that certainly help the shanghai composite in terms of the asian session. Interesting, we have this yen rallying. The nikkei was down. Mixed messages. ,ven though the tone is bullish but there are some signals suggesting traders and investors are not 100 certain what is next with some of these macro uncertainties, and a big one, the Fourth Quarter earnings reporting season starts soon in this first month of january. If we did not come out of an earnings recession, that to be Something Interesting to keep an eye on. David a nuanced report. Not just risk on and risk off. Thanks to Abigail Doolittle for that report. Now it is time to turn to Viviana Hurtado who is here with first word news. Viviana we begin with the standoff for the impeachment trial between nancy pelosi and Mitch Mcconnell. Bloomberg has learned over the two week holiday break negotiation happened on housesenate trial would be no negotiation happened on how the senate try would be handled. Close he says she wants to see a fair process. The pentagon is prepared to deploy more troops in iraq. Defense secretary mark esper saying iraq is now in turmoil after a u. S. Response to a rocket attack led by a u. S. Attack by an attack on the u. S. Embassy in baghdad. Must er saying iran iraq must do more to confront iran backed kim jongun according to north koreas news agency, he wants the u. S. To paper the pain suffered by the country because of economic sanctions. President trump responded by saying kim is a man of his word. In france ongoing strikes have reached a new milestone. They mark the 29th day, making them the longest walk out in the countrys history. The protests against the government Pension Plans have triple have crippled services in the country. Emmanuel macron is maintaining his commitment to pension overhaul what is urging the government to find a compromise with unions. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am Viviana Hurtado. This is bloomberg. David . David coming up, Isaac Boltansky of Compass Point research on why the primary season may last a long time and what that could mean for the markets. A programming note, coming up tomorrow at 1 00 in the afternoon, an interview with the cleveland fed president. Ons is balance of power Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. I am david westin. Former hud secretary Julian Castro withdrew today as a candidate of president , narrowing a democratic field which still has 14 people left, even if seven if several of those people will not qualify for the debate stage in a few weeks. We welcome Isaac Boltansky from washington. When we were talking you said you thought this process on the democratic side could go well past when we otherwise might think, intimate or even the summer. Why is that . Isaac we have this tendency to react quickly and aggressively to the most recent headline. That is partly because the new cycle is now measured in dog years. My cautionary point with client is we cannot get over our skis after the iowa caucus at the New Hampshire primary. There is still a lot of ballgame left after those. I truly think the main takeaway from todays fundraising numbers, which are huge hauls, these are wild fundraising figures, the main takeaway should be we are going to have a small group of wellfunded and committed candidates who are going to continue and persist through these primaries. I think the market will have to wait until the earliest, midmarch, where they will get clarity. There are distinct scenarios where we could wait all the way until the convention. David that would be something. When you talk about these candidates, certainly Bernie Sanders with his numbers, Pete Buttigieg, even andrew yang. Elizabeth warren tweeted out numbers that were not as encouraging. Does she have pressure on her . I do not think ive seen any for former Vice President joe biden. Isaac we are still waiting on the biden and warren campaigns but there were negative signals from the worn campaign. We can assume her fundraising trajectory has gone down. These are big numbers. What we are seeing from the Bernie Sanders campaign in particular last time he announced his campaign haul was after the Third Quarter, and it was only a few hours later he started to suffer chest pains and we know it was weeks the new cycle was dominated by stories about his heart attack. Now what we have seen is those donors from the Third Quarter continue to given the Fourth Quarter. It is the small dollar donations , which shows a level of persistence and fervor that is going to continue throughout the primary. David we are talking with Isaac Boltansky of Compass Point. Go to the second question. What does that mean for investors and the markets . That would indicate that if it goes as far as the convention, that is a lot of uncertainty. On the markets reacting to that anyway . Isaac isaac cap at them up isaac at the moment the market is more focused on fundamentals, rightfully so given the strength of the consumer. With each one of these primary contests continuing, the focus will slowly gravitate toward the primary. Here is my message around the primary. It is going to be volatile, it is going to be uncertain for at least the First Quarter, and possibly longer. I do not want to miss the big picture with this. It is not just the democrats who are hauling in a ton of money. 46 billionnt took in dollars, more than any democrats. He has more than 100 million, cash on hand. It is not just the democratic primary that will start drawing in amount of focus. We also have to think about a long general election as well. David lets talk about impeachment, which is still dangling. I have lost track. Nancy pelosi has not yet gone across the aisle. Now we are told Mitch Mcconnell will Say Something in the senate tomorrow. Where does it stand . Did she really hold up on the articles . Isaac yes. There is already some conversation about whether Mitch Mcconnell can simply move on his own without the transmission of those articles. I do not want to miss the forest for the trees. I think there will be a fair amount of political theater as there often is within the beltway. We know the end game. The president will be acquitted, he will not be removed from office. I doubt we get a single republican crossing ranks. Even the republican chatter you heard and mentioned in earlier segments from centrist republicans has been more about process than substance. We know the end game on impeachment. To me it is the bigger question on when can that moved to the sidelines so we can do things like ratify the usmca and try for broader legislative accomplishments. David we are talking with Isaac Boltansky. Lets talk about one big tree in your forest for the trees. That is usmca. If this drags out, what does that mean for usmca ratification . Isaac i cannot tell you the day it will be ratified, i can tell you with absolute certainty it will be ratified. The biggest and most meaningful hurdle was the house at the democrats secured a number of meaningful concessions that ultimately were necessary to get this through the house. You might see a little bit of consternation from some republicans who are concerned with some of the labor and environmental provisions, but this is going to get through the senate. It is just a matter of when. I would bet my Bottom Dollar it is a First Quarter event and it will not slip beyond that. David the democrats did quite well in the midterms, but a lot of those people were in trump leading district trump leaning districts and promised they would go back to their constituents having done something. Is there any chance for those freshmen to do something to take back in november or is that baked in . Saac i think it is baked in i think washington, d. C. , will do what it often does which is talk a big game about trying for a few last minute bipartisan achievements, but it is incredibly difficult to see these parties at the chambers coming together on anything complicated like drug pricing or infrastructure spending. The real bipartisan achievement of this congress will be the usmca and some of the provisions in the spending bill, which at least removes some of the fiscal uncertainty from the equation. David it appears President Trump will come together with the chinese january 15 to sign the phase one deal. How important is that for the u. S. Economy for investors . Isaac one of the themes for 2020 is going to be where is the certainty. It is incredibly positive we have at least some framework for thinking about the u. S. China trade for the next year. I think this is not a massive shift, this is not a structural shift in our relationship with china. Spiral the retaliatory that was an overhang on the markets for the last 18 months. We might have a shot at having another high profile phase two negotiation at some point between january 15 and the election. I think the message should be we are not going to have more retaliatory tariffs in action, and we will have to wait until after the general election. Before we get to phase two, went we find out what is in phase one . We have not seen this legendary 86 page document. Isaac it will be a lot like the spending bills we have to read. Get the spending bills a day and on,lf before they are voted and we have to scroll through and look for the details. I think it will be like that. It will be shortly before hand. Folks like us will have to look, especially at the enforcement mechanism, to see if this is the substantive deal or a symbolic deal. David it will not be two feet high. Many thanks to Isaac Boltansky, director of policy research at Compass Point research and trading. Advanced micro devices starts the new year off with a bang as shares soar. We tell you why the stock is up, next. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. I am david westin. The gains keep coming for advanced micro devices, 2019s best performing stock is the s p 500 today after nomura lifted its price target on the chipmaker. Kailey leinz is here with more. Amd on fire. Kailey it keeps on going. Last year was the best year since 2016 and nomura says that will continue. The analyst raised his price target to 58, up from 40. It is a bit of a game of catch up because the stock has far exceeded the average analyst target. Now tradingd is near 48 a share. It is a bit of catch up but he is saying i see gains in the future from the fact that the average selling prices are going to be higher. They have gained market share in the cpu space. Intel has had a shortage of the is making up amd for, and he sees more devices from microsoft and sony in the back half of the year. Amd inks the picture for 2020 is looking better than it did in 2018. David the question has to be why. You mentioned gaming. Also 5g is coming. What about china trade . Typically tech gets helped by that. Kailey especially the chipmaker space is so sensitive to the china narrative. When you look at a stoplight am when you look at a stock like amd, 40 of its revenue is from china. When you think about the supply demand dynamic of chips and the uncertainty from the ongoing trade war weighing on demand, the fact that the picture is looking brighter does amd some favors. David a lot of those factors could apply to others. How are other people doing in this space . Kailey analysts are bullish. I was looking at the analyst break down those tracked by bloomberg at our system on the bloomberg terminal. 91 of analysts on amd recommend holding or buying the stock. That is on the lower end on some of the chip stocks. Usually between 90 and 100 of analysts say you want these stocks in your portfolio. People are bullish on the semiconductor space, in part because analysts have been calling a bottom in the chip pricing cycle. It has been flatlined for a while after a decline. They think that will rebound and also the china narrative and the fact that trade may be looking better and it is of vital market for so many of the companies, the picture is looking brighter. David sounds like a good 2020. Thanks a much to kailey leinz on amd. The u. S. Deploys troops to the middle east while iranian backed militias retreat from the u. S. Embassy in baghdad. We discuss the latest and what it could mean for oil markets. This is balance of power. We are on Bloomberg Television and Bloomberg Radio. 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 Viviana Hurtado. Mark esper says the u. S. Has indications more iranian attacks may be in the offing. If that happens, the u. S. Will take action preemptively. Esther s per speaking two days after and iran sponsored Iraqi Militia attempted to break into the u. S. Embassy in baghdad. Israel Supreme Court as declines in on whether Prime Minister Benjamin Netanyahu and return to his post now that hes been indicted. The decision postpones any ruling on his political future until after the march elections. Mr. Netanyahu was indicted in november on charges of bribery, fraud, and breach of trust. An austrian conservative leader says his partys coalition offers the best of both worlds and will allow both partners to keep election promises. He will return as austrias chancellor after a sevenmonth hiatus. The green will join the austrian government for the first time. Secretary and hogan castro has dropped out of the president ial candidate. He was unable to rise in the polls. Ita video message, he said simply is not our time. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Viviana Hurtado. This is bloomberg. The United States is deploying about 750 troops to the middle east at the u. S. Embassy in baghdad after it was stormed by Iraqi Militia men. The demonstrators retreated after two days of intense protest. Secretary of state mike pompeo address the attack yesterday. When you saw was manyanbacked terrorists, of them designated terrorist by the u. S. And others, posing a risk to american diplomats and personnel inside the embassy. President trump directed a quick and prudent response. David for more, we welcome from austin, texas, michael bey. I heard one of the leaders of the protests, one of the militia and said wethe air made our point, and then could withdraw. What was that point . If they are going to continue to attack iranian es,ked militias or themselv they would demonstrate at the u. S. Embassy in iraq. One thing that we have to watch come out looking at messaging toward the domestic population. They are trying to get the Iraqi Parliament to reopen discussions about whether u. S. Troops should even be a deployed to iraq. They say they will be watching what the Iraqi Parliament does over the next week, specifically regarding the potential expulsion of u. S. Forces. That is something that they are looking at, not just to the u. S. David as i recall, the missile attacks were in response to attacks on u. S. Facilities, including the most recent that killed a u. S. Contractor. As long as we have troops in the region, contractors in the region, dont we run the risk of further attacks . To attackallow them us without responding . Michael we have definitely seen and up tech in attacks on bases housing u. S. Contractors. This is increasing the bar for theu. S. In the sense, for risk of the u. S. To maintain the current aggressive posture toward iran. When they are attacking forces in iraq, they say you are here, we dont want you here. Basically protesting the u. S. Involvement. It was only a matter of time, unfortunately, that you have u. S. Personnel killed. If the u. S. Wants to continue to up the escalation with iran, these are not going away. Whether it is in iraq or the persian gulf. Had its definitely allies and itself attack Oil Interests in the region. You specialize in oil and gas analysis. Is this affecting iraqs ability to produce oil . Michael right now, it is not having a major impact. The embassy is in the south, where most of the production is not. Iraq is in a difficult political situation. There have a caretaker government looking to appoint a new Prime Minister, you have protest that are distinct from the antiu. S. Protests, some of them have been carried out. As we look at this dicey situation, especially if you look at an effort by iranianbacked politicians to make the u. S. Look like the bad guy in terms of their deployment, consider kicking them out, we could see oil exports in iraq being affected in several ways. One could be protests at facilities that are forced to be shut down. It depends on whether it is the iranianbacked protesters or the iraqi protesters. Long term the Iraqi Security situation is completely dependent on the United States. If we have the u. S. Pulling out for President Trump reducing the u. S. Presence because of these attacks on the u. S. , we could definitely see it Islamic State and other jihadist groups regained strength. David lets turn to a different strategic interests, and the nord stream 2 pipeline from russia to germany. We saw President Trump really go after germany on the subject. Where does that stand right now, nord stream 2 . Michael the u. S. And a National Defense alteration at put in place sanctions that would target any pipelines or vessels. The company leading the offshore part already announced that they would stop and freeze the work on the pipeline because of u. S. Sanctions. That leaves roughly 100 kilometers of the pipeline to be constructed. A lastditchg at effort by the u. S. Come actually succeeding in some ways. And saids come back they have the capability to finish themselves. But when you look at the number of vessels under russias control, we are talking about just a handful. One of them is based in the far east right now, so it would take months to get into the baltic sea. This is something that will delay the pipeline. That withxtapose other negotiations going on in ascember over natural g transit agreements with ukraine, that had also been finalized. Those contracts were set to expire at the end of 2019. They have now been extended under five years. Eliminate some of the dependency it has on ukraine. It now sees the government anin kiev as not in their interest to prop up. They are looking at nord stream stream as a potential alternative. David will it get built, in your judgment, and what kind of timeframe . Michael i think it will eventually get built. I dont think it will be finalized until 2020 necessarily. Sometime down the road, youll have some sort of negotiation that will allow the pipeline to be built. I think that will be done in a court native fashion with ukraine. The german position, the u. S. Position at times has been that ,he nord stream 2 pipeline those negotiations were happening at the same time as ukraine negotiations. If you had a deal beneficial to ukraine, nord stream 2 could also go forward. David thank you for being with us. For more on the impact on oil and commodities, we turn to commodities edge coming up at 1 00 this afternoon. Coming up, demonstrators across india rang in the new year with street party protests. More on their fight against the countrys new religionbased citizenship law. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Prime minister modi has triggered a series of demonstrations across india in response to his proposed legislation that would discriminate in favor of hindus and discriminate against minorities such as muslims when they seek citizenship. To better understand the situation, we welcome chidanand rajghatta, columnist for the times of india. Great to have you with us. Chidanand thank you for having me. Origins of were the this law, why did we need it in india, why did Prime Minister modi press for this . Basically, the argument, the government, mr. Modi has made the argument that there are hindus in territories that are part of the west, pakistan, bangladesh, and beyond that in afghanistan, who have been discriminate against, because these are Islamic States , and their constitutions and laws do not allow hindus to be citizens the way that secular india gives equal rights to all people, regardless of religion. A lot of hindus are being targeted particularly in pakistan, which is the main center of worry. If there are hindu migrants from pakistan who wish to return to india, which they consider their motherland, they should be given citizenship. Why restricted to just these three countries and why identify religion as the basis. Many people in india, particularly, the liberals, say if you are concerned about hindus, what about hindus from sri lanka . Why dont you offer them a path to citizenship . Two, this has been done through executive action, through administrative things. In passing a law through parliament really raises the temperature. There was a sense that it went against indias secular credo. No religionnt says is being denied citizenship, that it only applies to people outside india, but somehow that really doesnt wash. A lot of people are seeing this as an overall move to hinduize india, which has always been a secular republic. David it raises questions about why mr. Modi decided to do this. I understand a substantial portion of india is muslim. He must have had a sense that this would trigger a substantial reaction. Is he surprised by the reaction he got . Chidanand i dont think so. I see this as part of a global upsurge and rightwing politics. This is something thats happening in the United States, britain, brazil, many places in europe. Wing is an uptick in right nationalist, native consolidation. Basically, majority people in the u. S. , u. K. Who are feel for or fearful of immigrants religion minorities who fear the old way is being threatened. In these countries you see an uptick in rightwing politics. Nativist politics. In india, too, this is a part. There is also pushback against the globalization, liberalization of the last 20 years. These people feel they are losing their sense of life, their sense of dominating society, and are pushing back. You see this distinct trend in the u. S. , too. David when we see demonstrations around the world, we see it start somewhere and then expand out. As you look at the demonstrations in india, is it limited to this antimuslim move, or hasnt spread out to other complaints that people have had in the streets . Iidanand so far, the sense get is it is confined to this. Which is why the government is keeping a close watch on the economy. There is a certain sense of dismay that the economy has not grown, in fact, a relapse, sliding back, a lot of issues with the economy. People are unhappy. Ofave not heard of any kind food riots or anything. The government has been careful to keep a tight lid on inflation. It is still within bounds. Itould not be surprised if does catch on, other problems get associated with it, but so far it is just confined to this. David is this affecting u. S. India relations in any way . We now have the first indian woman serving in congress. Apparently, the foreign minister of india refused to go to congress if she would be in the room. Is that affecting relations between the u. S. And india, more specifically congress and india . Between the Democratic Congress and india, yes, but surprisingly, the Trump Administration has been sympathetic to india not just on this issue but with other issues associated with it, like the indian mode to change the status quo in kashmir. Kinship between the ruling party in india and the Republican Party and the Trump Administration. In so far as liberal democratic lawmakers are concerned, there is a certain degree of tension. Here are not too many of them india still has good bipartisan ties with the u. S. Congress, but there are a few lawmakers, she being among them, members of the , who havesquad problems about the socalled hinduization of india. Me talk about that kinship between the Trump Administration in the Modi Administration on the other. Mike pompeo just went over to india. What was advanced in relations in that visit . Chidanand beyond all of this, the immediate issue of this law, the kashmir issue, u. S. Administrations across both parties have looked to advance ties with india. Washington looking and india as sort of a counterweight to china. Going back to the clinton administration, which started all, and then the Bush Administration and Obama Administration bet on that, the Trump Administration carried forward, but there is also a personal sense for lack of a better word a brotherhood between President Trump and modi. They see a likeness in each other, they want to consolidate their base. Pompeo there have been highlevel visits. Mr. Modi visited here a couple of times. There was a rally in houston with mr. Modi and trump appearing on stage together. This administration am a this president in particular, have taken u. S. And india ties to greater heights. David thank you to chidanand rajghatta. We will have much more with him on Bloomberg Radio starting at 1 00. Japanese authorities are missing carlos ghosn, who fled tokyo for his native beirut, still cloaked in mystery. It may not just be the japanese who want him back. The Car Companies that he led with him at the helm. We will talk about renault and nissan. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Juiciest story of the new year so far it is the dramatic and mysterious escape of carlos ghosn from house arrest in tokyo, showing up at his luxury home in beirut. There is about how what happened and secret private planes then instrument case, and turkish authorities retaining seven people in istanbul where he apparently switched planes. The one thing we know for sure is the two Car Companies he ran have not done so well since his arrest. We welcome our guest to covers the car industry. I read your piece about which Car Companies did well and poorly. I shot the lights out, but you see nissan and renault at the bottom. With both of these companies, neither immediate to censor successor for carlos ghosn survive 2019. Both companies are a mess. Carlos ghosn always had a knack for downplaying the tensions between these companies. Those tensions came to the fore once yo he was out. Renault coming out raising concerns about his expenses. All of that was a distraction for companies that maybe had stomachyes than their when mr. Ghosn was there. The reasons for his arrest were directly tied to what you described. He wanted to further integrate these companies, and he said the people at nissan did not want that. That was his point of view. Absolutely. It is hard to credibly deny those accusations while still acknowledging that perhaps he was up to some wrongdoing. We dont have to speculate about that necessarily. Hit him with a penalty last year for failing to disclose some of the compensation he would receive in retirement. There was some wrongdoing here. Its a question of whether that warranted the surprise arrest and treatment he received, which a lot of the Global Community has questioned whether that was appropriate. David next week, he says he will go to the media and explain. That will be interesting. They are suffering in part because there have been strikes in the companies. They also have larger issues. If you look at the Auto Industry overall, there is some softness. From Passenger Vehicles into trucks and suvs. His nissan positioned to take advantage of that . Potentially on the suv side, but a big mess on the truck side for mr. Ghosn. A few years ago, he talked about wanting to do 100,000 units with the truck. He has come nowhere close to that. We know that that is where detroits bread is still buttered today. Well, the japanese, korean carmakers are known for their passenger cars, so they have been a little bit on the slower side and less successful in this market that has been so significant to suvs from cars. David in the meantime, all of these companies are consolidating, putting money into electric vehicles. Not good for them. Many thanks to crack. We will continue in the second half hour on Bloomberg Radio, talking about indias economy. This is bloomberg. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Highestdities hit their level in more than a year as oil, copper, soybeans, and we close out the year on a high note. Revisit one of the most notable interviews of 2019, our sitdown in houston with bp cfo brian gilvary. The chemical industrys biggest ever ipo. We talked to one Company Executive looking to make sustainability profitable. Im taylor riggs

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