Short two to three week circuit breaker. The northwest of england, the northwest, the northeast. The list is growing longer. Tom it is going to be interesting. To say the least, the lockdown in america is not a lot done but is very regional, as mentioned in the debate last night. The upper middle west really hit hard right now. In new york city with our news, ritika gupta. Ritika President Trump and joe biden covered a wide range of issues in last nights second debate. Amongst them, racism, corruption, and the manner in which the president handled the coronavirus. Trump no choice. We cannot lock ourselves up in a basement like joe does. He says we are learning to live with it. People are learning to die with it. He also said the vaccine would be coming in weeks. In that of a guarantee is that a guarantee . Pres. Trump it is not a guarantee, but by the end of the year. Mr. Biden anyone responsible for that many deaths should not remain as president of the United States of america. Ritika unlike their first debate, the candidates largely complied with rules, allowing each other time to speak. On capitol hill, Senate Republican skepticism about a new stimulus relief package appears to be spreading to the house. Speaker nancy pelosi told members of the House Democratic leadership that some lawmakers dont want to come back to the capitol for a vote. If the senate isnt ready to act. A losey and treasury secretary Steven Mnuchin are trying to finalize a deal after a monthlong impasse. In europe, governments opposing imposing curfews more widely. Daily coronavirus cases are hitting records across the continent. Than 40,000ted more more cases for the first time. The first major trade deal since brexit the agreement with japan, the terms under with the u. K. Trades with tokyo as part of the European Union. There is further progress in trade docs trade talks between the u. K. And the e. U. Global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries, im ritika gupta. This is bloomberg. Thanks so much. Futures up 5, dow futures up 62. 27. 98. At we will see how that goes through the morning. The yield space higher, the 10 year yield,. 81, up 2. 83, and we have blown out to. 80 five. A higher yield regime over the 19. 14 angold midrange, ounce. Anna they move up and stocks. In particular, the manufacturing data out of germany was better than expected heard. A littlee euro stronger this morning, but these earnings are very strong in investment banking, talking about a very strong Balance Sheet at barclays and the possibility of paying evidence. Put accor in there, a big hotel chain. If you write spots from the european scene this morning. Tom 12 days in the debate must do something in the air, in the behavior, and the chemistry. 12 days from now we will be talking about the absolutely thunderous difference between the first debate, the canceled second debate, and what we witnessed last night in nashville. Lets look at a few selected moments. Mr. Biden he says we are learning to live with it. People are learning to die with it. If he is elected, the stock market will crash. Lets move onto the next question. Pres. Trump there has been nobody tougher than me on russia. I cope this president paid 50 time mr. Biden this president does business in china, as a secret bank account with china, and is talking about me taking money . I have not taken a single penny from any country whatsoever. What about fracking . The Vice President respond. Mr. Biden i have never said i opposed fracking. Pres. Trump you said it on tape. Mr. Biden show the tape. These 500 plus kids separated from parents. They were separated at the border. Pres. Trump they did it, we change the policy. Who built the cages, joe . To run that have again. That is a great summary of the many scenes that we saw. A little bit of the controlled emotion that we saw as well. To begin our punditry and drive forward 11 days, amy pope joins house, alsoham working for president Obamas Administration a few years back. Amy, what is so fascinating about this is within the middle, in the margin, there is a debate of your former boss, Vice President biden, being like obama. How distinct or how different would a President Biden be from what we observed in obamabiden . Ways he is going to continue a lot of the obama policies, and in some ways he will continue what we expect of most residents, including relationships with nato, building up alliances, playing a leadership role on the global stage. That is not unique to obama, that is a quintessentially american president s point of view, and the real departure is with this particular president. But in other ways, i think he has new ideas on a range of issues, including on immigration. Gulf, forg in the example. And i think he is really looking for ways to distinguish himself. And most importantly, reassure americans that he has the experience and he is a safe pair of hands. Tom there was a great partition last night over the president looking for success and the Vice President looking for hope over fear. , themotion last night residents of what these two guys one for four more years who had a clear message . I will have to admit i am a bit biased, but bice but Vice President biden put out far more policy proposals in terms of a wide range of issues. We did not hear so much policy from President Trump. Fromard a lot of attacks President Trump, shifting of blame. We did not hear about what he would do, and we did not hear about why he has not yet accomplished what he had hoped to do. So obviously the wall, he said we would have a wall built. There is no new wall. An infrastructure plan, there is no new infrastructure plan. Issues like the current relief bill regarding the impact of covid, that still has not passed. There are a wide range of issues that he did not accomplish, but he did not want to address those. He wanted to shift the blame. Anna interesting to see biden talking about energy transition, and i wonder how ready america is for that conversation . Is america more ready than President Trump might think . Amy i think they are. First of all, there are a number of jobs to be had in energy transition. There is a clear case that the United States, with energy independence, is able to make decisions that are far more of a strategic interest and an economic interest. I found puzzling this conversation about houses with tiny windows. Im not sure where that is coming from. What i think there is an agreement in the United States in general that we need to move forward, that we are in the 21st century and we need to embrace 21st century ways of bringing energy to americans. The Foreign Policy we have seen from President Trump what will americans look back on in terms of success, in terms of Foreign Policy . Im thinking how much continuity we see between trump and biden if we end up with a biden presidency. Amy on china there is less different than what people might imagine. The United States with obama, with trump, and with President Biden, i expect, as expressed policy inout chinese general, its practices with regard to trade. Real differences with regard to the ritter rather than actual policy. But our meaningful differences when it comes to our relationships with our european allies. This president , President Trump, has backed away from traditional relationships, building coalitions, to bring about change. Ovid is a perfect example the United States is not leading a response on that, it is basically going it alone. Places like the middle east, what we are seeing with President Trump is a departure from traditional emphasis on issues like human rights and diplomacy, much more transactional. To talk here and again, you are by its you biden itoward joe want you to talk to the middle. There is a conservative element out there that is clearly identified they are uncomfortable with President Trump but they are equally uncomfortable with modern democratic themes. Is this a joe biden who can run to the middle, all i his first day in the senate in 1973 or is he beholden to a more modern Democratic Party . How will that play out . Amy the interesting thing about joe biden, is that despite the way he is being portrayed by the republicans, he is more middleoftheroad and probably more conservative from many of those on the left. The discussion last night about the crime bill is a great example of that. President trump was attacking him for being too hard on crime, which is really an interesting position when you think at the same time he is saying he has no respect for law and order. I see Vice President biden as being far more centrist, even that one even then what many progressives would like. That is why he appeals to so many at this time. Tom amy pope from chatham house. We will do a lot more on this here into the sunday talk shows, and on forward. How about the friday talk show . Jon ferro will tackle Lawrence Kudlow in the 9 00 a. M. Our here on the economy. You know he has to talk about this better than good claims data yesterday. No doubt Lawrence Kudlow talking up the president wanting to do better for america. Look for that in the 9 00 hour. Stay with us. This is bloomberg. Anna this is bloomberg surveillance. Francine lacqua is off today. Numbers out of germany this morning that were very strong. Pmi numbers coming through on the german economy, derman manufacturing pmi for october, 58. Above 50 means expansion. Lets talk about how meaningful the debate is. Sonia allowed joins us. Sonja laud joins us. The turnaround in the euro how much credence do you give to this kind of data at the moment . Some people suggest it catches timing very well, but it doesnt tell you the extent of rebound or contractions. What are you seeing in the data . Good morning. I would always put the manufacturing data points in context. In 2020, as we know, with is very unusual situation with social distancing, and the impact on services in particular, you have to look at it overall in the economic context. It is definitely great to see the rebound, and it is not only in germany, although germany has the strongest numbers. But we see a similar picture across other european numbers coming out this morning. Services, manufacturing has done well, and there are clear attempts to keep manufacturing open with services, with increase in virus spread very difficult. I would be mindful that with the , it might be difficult Going Forward to see those numbers. But it is a positive sign, at least on the manufacturing side, that europe is recovering. Anna what does that do with the strategy, keeping the company keeping the country open, with spain, italy, the french president talking about a very grave situation ireland, wales, scotland. In eastern europe, poland. The list goes on. Record infection numbers. What does the dutra to strategy over the winter . Beja it means we have to very realistic that the second wave is probably worse than we anticipated. When you look at new virus cases, we look at this in the context of the way that we measure them, so the absolute numbers should be placed into that context. But nevertheless it will mean that we will see a further imposing of restrictive measures. That inevitably means it will be Economic Impact. We have to assume as well that the more activity moving inwards, the higher the chance that you catch the virus. We have to prepare this for europe as it stands right now. The Economic Development will expect stabilize, and as things get worse we have to assume there will be a potential negative impact on the economic trajectory. Tom you have wonderful experience out of the city and management. It is october and we are racing through an street roller. Reuters reporting that wells that Asset Management is on the block. Only because of scale. Are we going to end up with one big industry roll up . Sonja there is plenty in the industry that has not been underweight. It is clearly something that the industry has looked at for quite some time, and last year we had a number of emergencies. It is a realization that with the increasing cross pressure, the transparency, the way demand has changed, he requires that the industry reply dramatically. Scale is not everything, but clearly it will help to deal with the cross pressures. The approach to jaded to data, the reintegrated, the spending requirement for the industry to meet those demands. I think we have to be realistic as well. It is not like the industry has changed over the last 50 years or so. There is a real kind of catch up and really evasion with the changing environment. Expect that this is the end, but we are probably just at the beginning of a changing landscape for the international industry. At legal and work general, how important will equity Product Innovation be . To me that is the only way to get an edge in this competition. Sonja and i think here, the esg considerations if you think about the way and i kind of summarized it in the changing client demands. It is clear that not only clients have shifted toward real yound for manager, how are integrating with that decision, and how are you producing propositions that would allow me as the x owner to catch up not only with demand but making sure that it is not working only in my favor but to society at a much larger rate of stakeholders. Here the active analysis and the willstanding of a company change. It is moving in a way that from an equities point of view, you need a Great Research base. You need active managers to make sure that you understand that you require change. If think about Climate Change and what is required of companies today, we would Like Companies that can help with that journey and can help with that change. Anna great to see you. Very fluid conversation these days with many Asset Managers around esg and Climate Change. Sonja laud stays with us on the program. Coming up on the open, mohamed elerian, Bloomberg Opinion columnist, joins the scene, and this is bloomberg. Ritika this is bloomberg surveillance. Falling asntel are new concern that the company is losing his lead in computer chips. Droppedported its price in data center sales. Plus it says sales to current computing providers will slow down in the current quarter. Another Strong Quarter for traders at barclays. In currency23 jump rates and Credit Income in the third quarter. That helped barclays beat earnings estimates, taking a smaller impairment charge than its than expected. Bloombergs emily chang sat down with Silicon Valley veterans to promote the hit movie the social dilemma they discuss the impact of social media on society. She asked about the creator of one of those sites. There is a lot of negligence. Each company is different. Personalities are different. I think that even if they were as enlightened as they possibly could be, when they speak, they sound like hostages trapped in a hostage video. Where nothing that hostages saying makes any sense until you see the person offstage holding a gun to their head, which is their business model. Ritika you can watch that complete interview tonight on bloomberg studio on bloomberg tv. That is the latest Bloomberg Business flash. Tom thanks so much. On a friday, not a jobs day friday, just a fridayfriday, and sort of quiet. Almost a relief right now. Futures up 10, the vix 27. 86. I would note the yield space is changing space from a week ago, even from monday,. 86 . On the 10year yield. Creekh beschloss of rock in the 7 00 hour. This is bloomberg. Rates will negative be of limited in the u. K. Will be implemented in the u. K. They are going to move path ofdown the unconventional policy. I think they have made up their mind that this is viable. We are ready to manage negative Interest Rates. We would rather not charge our clients those negative Interest Rates, but we also have to manage the financial integrity of the bank. I think it is important that the Central Banks keep in their wallet the ability to use negative Interest Rates, but i personally believe here in the u. K. , it is not likely. Surviving aley brutal interview with anna edwards earlier this morning, talking commercial banking. I different headache at legal and general, their investment manager running all of the shops. Sonja, i get it. Youve got to live with this, and you particularly have to live with this with money market funds. How do you do negative rates in the Anglo American world with a preponderance towards money market funds . General, when you hear all of those kind of statements, will they, wont they, obviously europe is dealing with negative Interest Rates for quite some time now. T does have implications we shouldnt underestimate that the u. K. Can deal with that as well. But you are pointing to the most important area around money market funds and how those would deal with negative rates. It starts with issues from the accounting principles and whether your administrator can. Ctually handle it obviously for the client implications and the like, i am pretty sure theres working groups across the u. K. Looking at those funds in particular. Tom ok, fine. We are not going to break the buck. I get it. Theres a cost to that. Who is going to support or pay the delta if we say we are not going to break the buck . Sonja that will have to be defined on an industry level. My understanding is this has not been discussed. We are looking first and foremost on the feasibility from a daytoday perspective, and then there will have to be discussion on exactly what you just said. How do you make it work in the real world, and who will pick up the difference . If we have to start paying for regular Banking Services in the u. K. If we get negative Interest Rates . In other know countries that have to do with negative Interest Rates, that has been absorbed. Theres very few instances where rates have been charged to customers. Again, there will be negative implications clearly for the banking sector. We have seen this play out across europe. But the way this is affecting retail or corporate clients will have to be decided when and how it happens. Anna i talked to jes staley about the headwinds facing the economy next year, something barclays is very attuned to, of course. What is your expectation for how the u. K. Economy does, given the support we have seen from the government, but the areas where support maybe wont matter . Sonja a couple of points that question. First and foremost, we have to accept that a lot of the m easures currently are focused on liquidity, immediate needs rather than longterm structure. Theres a change to how fiscal stimulus measures have been deployed because it is very clear that the experience in the u. K. Has been very bad not only from a virus point of view, but from an academic point of view as well. Now the big question mark is similar to what weve discussed around europe. Can the u. K. Manage a second wave . How bad will be locked down be . Depending on the severity, what is the Economic Impact . In that context, if you think longerterm about the creation of productive assets coming to the u. K. Government, we dont really have a lot of clarity yet on where and how these measures will be deployed. This is before we thought about brexit and the potential implications of separation from the eu. Tom sonja, thank you so much. Wonderful conversation. Legal and general Investment Management cio. Right now, our first word news. Heres ritika gupta. Ritika it was one of the less potential turning points of the 2020 election. President trump and joe biden squared off for 90 minutes in their second debate last night. They battled over the coronavirus, the economy, and the stimulus package that is now stalled in congress. Pres. Trump nancy pelosi doesnt want to approve it. I do. You are the president. Pres. Trump i do. Mr. Biden a republican leader in the United States senate said he will not pass it. He does not have republican votes. Pres. Trump nancy pelosi doesnt want to approve anything because she would love to have some victories on a date called november 3. Mr. Biden the heroes act has been sitting there, and look at whats happening. Ritika unlike the first debate, the candidates largely complied with rules of the debate that called for them to allow each other time to speak. For the first time, the fda has given formal approval to a drug for fighting the coronavirus. Gileads antiviral therapy remdesivir had already been prescribed under emergency use authorization. It was given to President Trump when he was diagnosed with the virus. Chicago is hoping a business curfew will help stop the rapid rise in coronavirus cases and hospitalizations. It will last at least two weeks. The curfew will be in place for all nonessential businesses. Bars without a license to sell food will no longer be able to serve customers endorse. Cases in chicago have risen 54 . Global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. Im ritika gupta. This is bloomberg. Anna thanks very much. We are getting some new news lines coming through from the Irish Government on brexit. We will get to that conversation very shortly. Coming up next, michael mcgrath, lands public minister irelands minister for Public Expenditure and reform. This is bloomberg. Is bloomberg surveillance. I am anna edwards in london, with tom keene in new york. Barclays has posted strong trading revenues. That helps offset headwinds in the consumer business. Shares surging this morning. I spoke with Ceo Jes Staley earlier today about the risks in the u. K. Market. Jes the challenge for all the banks, particularly in the u. K. , ra zero or close to zero Interest Rate environment. It is tough for a bank that relies on Balance Sheet assets and liabilities. Yourng money out of checking account, etc. , as a gesture to make sure we are helping our customers in this time of need, and the first six year, we have waived over 100 Million Pounds of overdraft charges and banking fees. We are being conservative in terms of trying to make sure our customers dont get into financial distress given what is going on in the market. On the others out of that actually is the margin market come up the Mortgage Market, which is surprisingly robust. Our market has grown a lot in the third quarter. Interest lending in mortgages has gone up. It is one of the real encouraging signs in the u. K. , how are bust its Mortgage Market is how robust its Mortgage Market is. We want to extend it to customers who want to refinance their home or buy a new home. Anna youve talked about negative Interest Rates this morning. Youve said the bank is ready. I heard you reference that the free nature of a lot of acting products in the u. K. Are you thinking about passing on any of the costs of negative Interest Rates should they come to pass to customers . Are negative Interest Rates in certain markets in there indeed with some large corporate clients, we have passed on those negative Interest Rates in the deposit pool for large corporates in certain markets in europe. We are prepared operationally for the bank to run with negative Interest Rates. There are some negative parts of negative Interest Rates. Consumers will go to cash. I dont think that is necessarily a good outcome. But we are ready to manage negative Interest Rates. We would rather not charge our clients those negative Interest Rates, but we also have to manage the financial integrity of the bank. I think it is important that the Central Banks keep in their wallet the ability to use negative just rates, but i personally believe here in the u. K. , it is not likely. Anna youve talked about how you are going to give guidance full yearidend at the 2020 mark. Are you having conversations with regulators . Are things moving on that front . Jes as the bank of england has said, we will have discussions with the pra in the Fourth Quarter of this year. This is the strongest the banks Balance Sheet has been. Our capital riskweighted assets is now 14. 6 . It has never been at that level. We are very liquid. We will have conversations with the bank of england the latter part of this year, and we will address our policy around returning capital to shareholders at our Year End Results coming up shortly, at the beginning of 2021. Anna that was the ceo of Barclays Jes Staley speaking to me earlier today. Some headlines crossing the terminal in the last few minutes , the Irish Foreign minister siphon colletti foreign minister Simon Coveney is speaking, saying that brexit talks are back on track, and trust with the u. K. Has improved in recent days, but the two sides are still miles apart on fish. Lets continue this conversation with michael mcgrath, irelands minister for Public Expenditure and reform. Welcome to the program, minister. We heard from Simon Coveney that the two sides are miles apart on fish. Is president macron of france going to have to give some substantial ground to get this deal done . Mr. Mcgrath first of all, i welcome the fact that the talks have now resumed. From the irish perspective, securing a trade deal is absolutely vital to our economic interests, and also in the economic interest of the United Kingdom. Theres also a very important nonacademic dimension from an irish perspective, and that is the protection of the good friday agreement and peace on our island. So we already have a withdrawal agreement. We have a Northern Island protocol Northern Ireland protocol as part of that agreement. It is so important that that protocol is fully honored in any final agreement, but we all want to avoid a new trade deal scenario on the first of january. That would have a hugely disruptive impact on the u. K. Andomy, the Irish Economy, European Countries as well. So we really need the government to get a deal over the line, but the outlook is looking a little brighter than it was two weeks ago, and i welcome that. With goodwill on all sides, a deal can be done, and it is definitively in everybodys interest that a deal would be done. Anna what about the american influence here . If we do see a President Biden from early november, do you think that will make it easier to push for some sort of deal . Will he make a big difference . Mr. Mcgrath from our point of view in ireland, we have been really heartened by the support we have received in washington in relation to the protection of the good friday agreement and the imperative to uphold the Northern Ireland protocol. Many jobs are on the line. We cannot return to any situation whereby there would be a hard border on the island of ireland. That is fundamental from our point of view that the northern ,reland protocol is protected and there have been many statements of support from both sides in washington at the prospect of a trade deal between the u. S. And the u. K. From our perspective, irrespective of who is in power in washington, that support is vital, and we feel that that support will continue. Tom wonderful to have you with us today. Down toance i wandered the Hayfield Manor Hotel in cork and wanted to dabble in flyfishing or something, thats great. Thats the image of the island. Thats the image of ireland. This fishery issue is really real and really ancient. How do you see it broken . How do you see it where we can come to a collegial agreement from the netherlands through Great Britain to ireland . What is the path to getting the fish story fixed . Mr. Mcgrath first of all, you would be welcome anytime to cork and to the hayfield manor. I take it youve been there before. They wander for a wonderful hotel in our city. But the issue of fisheries is a difficult one. Theres the common fisheries policy within the European Union , when it comes to fishing in the territory waters of different nationstates. It is a complex issue. It runs deep, but it is intrinsic to an overall agreement being secured. I willthe detail leave the details to the negotiators. From irelands point of view, beinggotiations are carried out by the European Union, by Michel Barnier and his task force. This has been one of the most difficult, but if you consider all of the other issues that need to be agreed and where it considerable progress has been achieved in securing a future trade relationship, hopefully with a , then i genuinely believe that an agreement can be relation to fisheries, but i thick it is best to leave the detail to those who are actually negotiating. Tom on the sensitivities of this moment in your nation, and in Northern Ireland as well, how do you move forward and keep the peace, and yet keep a complete ireland . How do you do that . Mr. Mcgrath that is the very issue we have had to grapple with since the brexit vote in andu. K. In 2016, negotiations were tortuous at times. We had outstanding support from the United States of america, as we had when the Peace Process was being crafted, and when the good friday agreement was entered into in 1998, i think it is fair to say that that agreement would not have been achieved without the United States, and many lives have been saved. The Northern Ireland protocol is now an internationally binding agreement which insures no return to a hard border on ireland because we know all of the issues and challenges that would arise from that. What we are looking for is part of the future relationship with the United Kingdom is that that Northern Ireland protocol would be fully honored. That allows the common travel , andto be fully upheld allows for crossborder trade between the island of ireland and Great Britain as well. Of course, there will be challenges and complications, but we have put in a huge amount of work prepare for all brexit scenarios, investing in very significant and for structure in our ports and airports, but what we cannot compromise on the fundamental objective of keeping an open border between ireland and Northern Ireland, given what is at stake. It goes far beyond the economic consequent is. Anna another challenge you are facing is around covid19 antilockdown measures in ireland. How confident are you that covid19 and the lockdown measures in ireland. How confident are you that these . Will emerge from mr. Mcgrath the virus is spreading, and the problem is really serious. Our First Priority is to protect Public Health. That is why, based on advice from the Public Health experts, we have now entered into a period a very significant restrictions for the next six weeks, with a view to getting the virus fully under control. In many respects, it is a preemptive strategy because while our numbers have been rising, we have been coping very , andin our Health System the number of people in could go care and fortunately the number of people who have died has remained very low, so it is a preemptive move by us, but we are confident that these measures will work and that we can then move to reopening the Irish Economy fully in the period ahead. We had our annual budget just last week for 2021, and we introduced a record budget in terms of scale of 88 billion with expenditure next year very significant amount of direct support for businesses. We are going to help them insofar as we possibly can to keep them alive and ensure that they get through what is a very tough period for everybody. Tom minister, thank you so much. Really interesting conversation there on the fabric of industry across the region, founded in fishing, of course, as well. There are so many distractions in this october. One of the things we are trying to do is keep our eye on banking, our eye on the investment and finance of the moment. I will admit, it is tough to do. It is 2020, a year of crisis. Sonali basak joins us with an important discussion tonight and through the weekend. Why are we doing this special . [inaudible] have said that they will not make it through the next three months. Money is flowing through the Capital Markets freely for the bigger companies. Tom the money is going out. Imon is on the phone screaming at people, move the money. It is easy to move the money to an employer of 852 or 80,000. How do you move money to the little guys . Sonali it will take a long time. First of all, the stimulus is severely needed for the little guy beyond anything else. Unemployment insurance as well, on them limit benefits. Underserved communities have been served a lot less than their counterparts. Some al change, maybe sheila bair it told us some constraints when it comes to the fed program is one of the other things. Tom how bad a week does Lloyd Blankfein have . Lets cut to the chase here. Goldman sachs, embarrassment to the good men who ran the shop for years. Sonali it sucks to lose some of your pay. The clawback is a big thing. We havent seen anything of that skill before. This fine is the biggest bribery fine of any company, let alone a bank, and any u. S. Company that has ever made made in u. S. History. But with that said, you see goldman recovering a little bit because investors are excited about them getting these fines behind them. Tom and what is the best practice for mr. Paulson forward . Management,former obviously theyve had their history, and you move forward. What is the move forward for Goldman Sachs . Sonali performance, broad as well as in the United States. Tom are they going to retrench from asia . Sonali absolutely not. When you look at the top five ipos in the last year, most of them were not in the United States. Retrenching from asia is not an option. Tom i get it is not an option, but then again, it comes down to the city as well. In all of your context, what is your latest on hong kong . Focusingn sachs on the beautiful skyscraper, or do they ship to singapore, tokyo . Sonali they want to grow in both areas. They just resolved their matters with singapore as well in relation to 1mdb. The hope is that they can grow, but it is competitive. Tom especial this weekend. Sonali basak our wall street correspondent. 2020, it is a year of crisis, the credit disconnect. For those of you nationwide, it is like, yeah, maybe. Let me tell you, and the major cities, this is the story, the partition between the haves and the havenots. Look for that 7 30. And extraordinary friday here off of the debate. A civil debate, well behaved. I think Kevin Cirilli is well behaved in nashville. This is bloomberg. So youre a small business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Jonathan from new york and london, for our audience worldwide, good morning. Im jonathan ferro. Francine lacqua is away today. Tom keene, some diplomacy in nashville, tennessee. Tom wow, was that strange. It looked british for a moment. Everybody was well behaved. I was really quite taken with the shock. I thought the gentlewoman from nbc did great. It was almost a flashback to what we remember, but is that what we really want . Or are we addicted to the yelling and the screaming . Jonathan i think expectations were so low for the president , it was like a beaten up stock going into earnings season. But there was a change of approach from the president , and the polls and the voting were sleek and the voting will speak for itself. I wonder if we get a narrowing of the gap doing into the last