Around the world, from riyadh to london to new york and washington. Bloomberg voices are on the ground with all of the mornings top stories. We want to start with breaking news out of london, where the labour party says it will support a general election. Boris johnson will try for the fourth time to secure election. Joining us now is emma chandra from london. What just happened . What is the lineup today . Emma we are seeing the pound off aftergher, paring spiking higher today. Saying they will now back in early general election, saying that conditions that a new deal brexit be off the table have been met. S is key because ivan the because even though the Prime Minister is asking for a general election again today, one that requires a smaller majority than yesterday, hed still needs some opposition support for that bill to pass. We understand there will be a vote on that later today. It would set the date of a new general election. The government saying that would be to summer 12th, but there are negotiations with opposition 12,ies would be december but there are negotiations with opposition parties for that to be possibly the 11th. The date is very important because they want to ensure that the Prime Minister cant force through that brexit deal before a general election and then be able to campaign on having delivered brexit. Liketheless, it does look viviana this is bloomberg daybreak. We are almost with 100 coming up later, the General Motors c. F. O. Certainty heading toward a general election after hearing that the labour party will back the Prime Ministers call for an early election. Alix seems like they are looking at anywhere between alix time now for bottom line. December 9 and 12. Were looking at one company and thats beyond meat. In london, bp delivered a profit youve got analysts that lowered beat despite lower oil prices. Their on price target sending bloomberg spoke to the cfo. Shares down. If you look at where the oil joining us is phil maloney. Markets are, we arrange bound were down around 20 here in between 55 to 65 a barrel. The premarket. There are clearly still the stock hit 2 40 back in july. U. S. China tensions in terms of where the direction of the oil its been a gap down in the price may go from here. Open. Its probably going to close it is pretty stable at the this june gap which is another moment, but the team has been negative sign. Its around 85, back to may and making some pretty good calls around the structure of the market. Alix Annmarie Hordern joins us then 77 takes you back to may. From london. And if both those levels fail, it wasnt so good news on the call after he said dividend 73 was the high on the first day of trade. Increase was unlikely this year. First level, 85. Alix the longer trend here. How big a surprise with this to wall street . Annmarie those oil prices hes mentioning there, staying this if we do bounce if we do range, is really hold the 85 level, 76. 4 takes dragging down all of the super you to 91. Thats your first resistance majors. Level and then look at 100. A big blow for bp, because again. It will be really interesting trade for beyond meat. Thank you, bill maloney. They said last year they would stay firm. So were going to take a look beat,id come in with a deeper into the loss op after but there is a big but. Bp was really managing earning. Phil haslett joins us. Expectations. They took an unusual step a few weeks ago to flag some factors he has worked with half of all werewere impact that the unicorns, typically when going to impact thirdquarter results. Lockups happen and what happens really, what was the standout with stocks. Phil sure. For the results this year was this is going to be the first time for a lot of employees, going to be the refinery early investors and founders to business. Sell their shares in the market. They said this was the record so this has been the sixmonth amount of profits, crude and anniversary of a lot of people u. S. Refineries. On top of that was inside bps watching this stock go up, down, left, right. So we would expect a little oil and gas trading business. Downward pressure in the stock. But a lot of that may already be priced in. These were able to make beyond meat is one of the most heavily shorted stocks in the really good calls up against a volatile market. Entire stock exchange. Alix thank you very much. So we may see most of this over to saudi arabia, where downward trend is relate to the Global Finance chiefs are the earnings numbers instead of gathered. The lockup. Central bank policy is on the agenda come up with some wall street elite already warning of an economic downturn. Ray dalio front and center with that. I think the fear was everybody joining us from riyadh is was going to share theirs bloomberg equities reporter fully pay a chuckle reporter shares. At 85, is there more incentive for employees to sit tight and hope that beyond meat rebounds . Phil we had some optimistic numbers that came out from the is our bloomberg Quarterly Report yesterday. They are starting to turn a profit. This is a different story than ke a wework our an uber or a reporter. Reporter we have big nones from lyft. Blackstone, big names from theyre showing a little bit of wall street, and theres a lot stability. However, beyond meat has a lot of competters from some really of conversation and excitement well financed larger meat about aramco and the ipo in the companies and theyre probably keeping an eye on that too. Alix so the story is that pipeline. A lot of people want to know more. Because wework i. P. O. Didnt we have more details that it happen because of uber and etc. , would actually happen before the end of this year here in the saudi stock exchange. Does this change the exchange the numbers for the Company Forever . Profit stays at very high level, and then you have the beyond just the same way we saw earlier meat like the fundamentals are this year when they started to pretty good. How do you see isnt it phil sure. Its great to see beyond meat release their numbers with their moving towards profitability, bond sales. Not just growing at all costs. I think right now, we see a lot that was the wakeup costs. Of people on the ground asking more and trying to learn more when you talk about 2019 during about how this deal could affect the year of the i. P. O. , only a handful of companies have really the market here in saudi arabia and the middle east as a whole, had this type of market success like beyond meat has and you have zoom or beyond meat but not and how to learn more about the 100 or 200 regret. Region after the steel heavens. After this deal happens. Maybe some of these employees alix thank you very much. That have only seen markets go one way since beyond meat got investors are watching surprise started are finally starting to earnings from google. See maybe having 90 of my net the culprit was heavy investment worth all on one stock may not into other businesses, like Cloud Computing. Capex is up 27 . Be such a good idea. How do you judge how long joining me in new york is paul sweeney. These Companies Stay private and walk us through some of the go public . Highlights in the surprise for i was looking at beyond meat funding rounds and i was wall street. Surprised. They were actually founded before wework. They have about the same number paul revenue was generally in of funding rounds, eight or line with where investors were thinking. Nine. And wework had one more. The story was investment spending primarily on the cloud so they were the same boat but computing business. In terms on the length of time. This is a story we have seen t was basically to the same. Some other big tech companies, microsoft and ibm, that are phil beyond meat didnt Start Playing in the Cloud Computing business. Generating revenue until four or google is a player there. It is the number three player, five years in. So it needs to catch up. So this company took a little that is why we are seeing big bit of time to cement itself as spending in the cloud for google. Management on the conference a company whereas wework was able to show those numbers call said expect even more earlier on. And so i think that might be spending on cloud Going Forward because they believe it can playing a role here. Generate a very strong return on some of these employees have investment. Been with this company for nine, the core advertising search business, that remains very 10, 11 years. Strong. Unless they sold shares, theyve been watching this period for revenue was up 17 in the the last six months. Quarter, driven primarily by mobile search. Its probably gotten them the Youtube Business also very nervous. Its been probably the biggest strong, called out by management roller coaster of the unicorns ost i. P. O. As a continued growth driver. Lots of good stories there. Continued vestment. Alix do we need take an stocks trading off a little bit interest with the stocks as premarket, but overall, the genuine or hold off and wait and stock hit an alltime high see . Yesterday, so investors feel at phil yeah. So i think if im an employee, i this Company Remains on the right track. The fund metals are there. Was probably hoping that things would be steady when i woke up longterm the fundamentals are there. Longterm, the bulls still think this morning. Now that things have dropped 20 , maybe im getting more they have a good story was google. Alix in washington, boeing ceo nervous. You might see some kneejerk Dennis Muilenburg prepares for reaction from shareholders. Testimony before u. S. Lawmakers, a lot of folks that are going to set to admit that the playmaker may design mistakes on the be free trade, a lot of them are grounded 737 max. Joining me from capitol hill is in the hands of folks that kevin cirilli. Arent institutional long term the fireworks are going to start. What are we going to see . Short in just a few holders. This is maybe one of the biggest Financial Transactions they make their entire life. Sometimes emotions get the best hours, boeing ceo Dennis Muilenburg is set to kick off two days of testimony here in of you. The senate, and tomorrow in the once you put all these shares out there, that attracts the house of representatives, where he will face tough questions shorts but with the institutional side having the opportunity to get in here, does about what precisely boeing new this become more of a long trade based on that alone . Regarding its 77 max airlines. Phil yeah, you could see it go it is the one Year Anniversary either way. The borrow rates to short stock following the first of two of beyond meat was like 141 crashes in a fivemonth period which is absolutely insane. Of the 737 max that impacted not we talk about tesla being a heavily short stock. Just markets, but of course, hundreds of individuals. So what i think what will fortunately happen is when these the victims of those crashes, shares become freely tradeable show up, the cost of borrow will some of which will be in the hearing room, are set to meet go down significantly. With Dennis Muilenburg after the hearing. I dont really know which way it he is going to strike a remorseful tone, or according to will shake out. Maybe they dont have to pay 12 a portion of his sho to borrow shares. You might see some increased prepared testimony that was pressure but i would point back released yesterday afternoon. To the numbers. Some of the revenue and the income beat were decent here. So, you know, its going to be a when the 77 max returns to tough one. Service, it will be one of the alix and part of that going safest airplanes ever supplied. From restaurant to Retail Stores we know we got somethings wrong. , right . We own that, and we are fixing them. Phil thats right. Theyre showing success in both the chairman of the senate patterns. Commerce committee, roger wicker the c. E. O. Has talked multiple times about the pilot that , a republican from mississippi, has said that lawmakers and regulators will not allow the theyre doing with with planes to get back in the air mcdonalds and canada. Until they are 100 certain that they are safe. And so well see what happens there. Im excited. Meanwhile, expect some tough questions from democrats, i think impossible and beyond especially tomorrow. Are available now in stores in according to some of the previews weve been hearing from new york. I am curious about that. Obviously, beyond meat has done other public a great job with regards to the partnership. But also just the positioning comments, they are not looking to question going, but also wall they have in Grocery Stores street investors. They are trying to portray this putting themselves in the meat is a situation where perhaps case instead of the grocery food there were some overly eager investors pressing for boeing to aisle. I still go into the grocery boost their capabilities of these planes before they were store, theres still pretty much ready. Beyond meat and maybe a couple on boeings portion, expect of other brands. You still dont see impossible boeing to say that they have there or other potential made improvements to the markets. Mechanics, as well as to the phil yeah, its not as Computer Software systems of the ubiquitous and any of these plane, and that they are working alternative Meat Companies will tell you competing for eyeballs with regulators domestically and in these Grocery Stores is a abroad. The final point i would make, it really difficult thing. It makes a lot of sense how some is not just lawmakers who are of them are partnering with asking tough questions of dennis restaurants first and go down muilenburg. Its also the department of into the supermarkets. Justice who has that criminal kind of taking the tesla probe into boeing. Alix kevin cirilli, thank you approach where youre sell the very much. Burgers for folks that can pay you can stay with bloomberg this morning. We are going to ring you boeing up and then you can go to the ceo Dennis Muilenburgs testimony before the Senate Commerce committee at 10 00 a. M. Grocery stores. Thats where i had my first eastern time. Fake meat burger. Alix really . I havent yet. The wildfires in california have gotten worse, and blackouts will im scared. Continue as well. Its not bad. Pg e will cut the lights out alix what are people talking about most in your world right today to as many as 1. 8 million now people, the latest in a series phil theres a lot of interest in the alternative meat space. Of unprecedented power cutoffs its been a wakeup call for aimed at preventing fires. Shareholders in the private market saying as an employee of the biggest of the fires in Northern California has now one of these companies, maybe destroyed almost 100 buildings. Pg e has taken extreme liquidity is not a bad idea to take some chips off the table. Wework was that canary in the measures to prevent fires after it was blamed for blazes in 2017 coal mine that maybe im a and 2018 that left the company 32yearold engineer, things can with 30 billion in liabilities go down as well. Thats been a helpful reminder and forced into bankruptcy. For folks but still seeing heavy coming up, much more on your morning trade and analysis in interests, mostly Cyber Security todays first take. This is bloomberg. Enterprise as well. Alix phil, thank you for your time. Coming up on bloomberg daybreak, youre heading out, tune into bloomberg radio. Heard across the u. S. And sirius xm on the Bloomberg Business app. This is bloomberg. This is bloomberg. Alix time for the bloomberg first take. We are going to give you the you get the trade and analysis alix General Motors announces the last quarter owner, earnings of the markets. Here with me, gina martin adams, well above estimates. Vincent cignarella, and also david weston is standing by with with us is bloombergs alex the c. F. O. Of General Motors. Harris. Lets kick it off. Thank you. The story yesterday, youve got so there are two stories. One is what happened with the high yield. Whats going on in the curve . Strike, which is now over and the underlying business. Youve got record high equities. What do traders care about . How do you separate out those vincent not brexit. Two both with respect to the [laughter] Third Quarter and for the year . Alix the one time we dont lead yeah, david, i would say Third Quarter was a very strong with brexit. Quarter. Vincent the interesting thing i the underlying business was very straightaway, the strong. And obviously, the strike had a significant impact. Emergingmarket story is looking it was 52 cents for the quarter and 2 in e. P. S. For the year terrible this morning. Alix meaning the trades we saw but separating that out and yesterday reversed early in the looking at the underlying morning. Vincent yes. The government announced what performance, we remain strong. As you say, it would have they were going to do with been even better but for the strike. What accounted for the success of the earnings in the third. Quarter . Was it product mix . Was it the trucks or the s. U. V. The dollar staying bid, more or crossovers . Less, in the space. I think it was all of those. And we are in the midst for full gold is off sharply. Size truck launch and light it looks like a risk off event. Duties have already been thats not really ng markets acr launched and the heavy duties were in the process of launching. And if you look at the performance since the beginning of the year, were up eight space, temporarily until we see a clear look of what em is going points from the market share standpoint and weve done that to do, what the fed is going to with insulin with record high do, and essentially, what transaction prices as well. And all of that is certainly congress is going to do with the president thursday. Alix gina, how do you look at helping the earnings powers, and it . Gina i think it is still the crosso