President trump talking about trade gave us an insight into the u. S. And china in terms of negotiations. A lot of focus is on what is happening in hong kong with heightened tensions playing their part in a selloff. The u. S. 10 year yield is at 1. 1010. Eurodollar at coming up, we speak to a bank chief executive a little bit later on. Lets get straight to bloomberg first word news here in london. 3g capital is said to have submitted a bid for an elevator business. That comes as a surprise with 3g having made a name for itself buying food giants. They understand the elevator unit could fetch more than 15 billion euros. They are still debating a minority or majority stake. Hong kong has announced a suspension of all schools in the city. This as the security chief warns of unthinkable consequences if violence continues. Early commuters packed on to the first trains amidst calls to impede rushhour traffic. The International Energy agency says Global Oil Demand will likely plateau around t
Now out of germany. I have my screen here on the bloomberg terminal. We can see the number coming in a little bit better than expected. The business number at 94. 6, the survey was for 94. 5, and that is better than the 94. 3 that was the prior meeting. The expectations worse than expected, this is where we thought we might see the disappointment. Indeed we got it. We were looking for 92 and we got 91. 3. Course lower. This is better than the estimate of 96. 9. But bottom line is the is atations down at 90. 8 disappointing reading. Lets look at what is going on in markets, a little data check, the stoxx 600 is up 0. 2 . It has been up all morning long. We even have the dax showing gains, 0. 1 . The cac is up as well as the. Tse, 0. 2 we see the individual indexes rising. The euro falling a little bit in dollar terms. Down . 48 a barrel. Crude coming down as we see the u. N. General assembly get ready to hear Donald Trumps speech later today. The u. S. 10 year yield also coming down as
Whoever starts one will not finish it. Wait, wed we work, we worry. Pressure mounts on the ceo of in the u. K. , the collapse of thomas cook leaves thousands stranded. Matt good morning. We have not escaped worries about trade concerns regarding a farm trip. We have been and reporting that the u. S. Requested that but we are also told it does not mean anything is going on that is bad between the trade talks. It has nothing to do with the trade talks as we look ahead to the facetoface meeting on october 10 after the working level talks last week. That is not stopped the asian stocks from falling. Closed today. S asian stocks coming down. Biggest losses in hong kong. Mscia look at the asiapacific and index that following this morning as well. And looking at u. S. Futures, they are up. Reading thes are signals differently or maybe Something Else is at work sending asia down but making traders optimistic for the opening of u. S. Trade. Is strengthening a little bit. Coming down to 7. 11. G
Global Business Forum. Will be speaking to pierre moscovici, european for economic and funny to affairs, andreas , Allianz Global Investors ceo, and stephen badger, mars inc. Chairman. Lisa deepening some of the concerns about trade come the s p lower. Crude dropping as well as saudi arabia seems it is getting production online faster than expected. The euro losing versus the dollar. The dollar strengthening despite concerns about turmoil amid the leadership in the u. S. Onyear yields going lower this risk off day. David joining me now at the Bloomberg Global Business Forum is andreas utermann, Allianz Global Investors ceo. It is good to have you here. I want to start with why we are here. It is the Climate Finance Leadership Initiative. Explain to us what that is. Andreas it is an initiative that michael bloomberg, on behalf of the u. N. , kicked off about a month ago. It brings together a significant number of affluent to private sector organizations with the aim of cooperating and c
Giant nothingburger, to paraphrase his remarks. Meanwhile, there has been no significant departures of support coming from republicans in the house of representatives. Members of the conservative house and copies have said that Speaker Nancy Pelosi rushed to judgment. We have not seen significant departures of support in the republicans coming from the senate. Even one of the most tepid criticisms we have seen coming from senator mitt romney, a frequent critic of President Trump come republican from utah, said it was deeply troubling, but would not go so far to endorse impeachment. Democrats for their part say this definitely emboldens their cries for there to be impeachment proceedings. We dont have a clear timeline on what is next. What we do know is that likely the administration and department of justice will have to hand over the was a lower complaint whistleblower complaint that started all of this ukraine chatter, and that we could hear testimony from the whistleblower as early