a political solution to a military that's helping ease oil prices today but not the saudis worries fitch has downgraded their credit rating citing the rising tensions. saudi arabia's message is clear an armed conflict with iran would have catastrophic implications for the global economy and send markets reeling it's a stark warning and one riyadh hopes will prevent military action by its long time rival a spate of attacks on saudi oil facilities allegedly orchestrated by iran earlier this month led to a huge spike in crude oil prices as saudi output sputtered in a rare interview with u.s. broadcaster c.b.s. the saudi crown prince issued a stern call to action. and that if the world does not take a strong and firm action to deter iran we will see further escalation that will threaten world interests oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven't seen in our lifetimes. saudi arabia is urging the u.s. to continue talks with the wrong with the hopes of reducing some of the political strain on the strait of hormuz the world's most vital sh

rating agency fitch great saturday arabia's credit rating from a plus. agency says it's in response to rise in political and military tensions in the gulf region and a deterioration of the kingdom's fiscal position. police in hong kong have warned that national day celebrations in hong kong they will be dangerous as pro-democracy rallies become increasingly violent this comes as the voices news agency reports beijing has more than doubled its deployments of mainland security forces in the region police arrested at least 2 high profile activists during the mass protests on sunday demonstrators lit fires on the roads and threw rocks and far bombs at police who retaliated with tear gas and water the city is preparing to celebrate the 70th anniversary of the people's republic of china has more. police have sent out an alert to every single hong kong citizen warning of danger tomorrow during these mass protests which are planned on october 1st they've said they've also received intelligence suggesting that protesters will undertake murderous acts on police of

the credit rating was downgraded by fitch, and as fitch went forward they sat at the month-long protest the region stability, so let's get to jonathan than hunt. >> connell, good early saturday morning from hong kong, and we may have had a taste of what is yet to come this weekend with police and protesters clashing again friday at a nearby police station and a subway station. riot police were heavily out numbered at types and fired tear gas and rubber bullets to try to drive the crowd back. now hong kong's chief executive tried this week to draw the stin g from the summer-long protest by scrapping a extradition bill but that appears to have done little to lay the fears of many protesters that the chinese government still seeks to take tighter control of hong kong and break the central promise it made when the territory was handed over by the british in 1997 and the chief secretary at the time, listen to her. >> in the minds of many people in hong kong, one country at the moment is one country, one and a half system and as this erosion continues and very soon it will become one country,

.>> reporter: kelly fitch is scratching her head about who and why someone would want to steal her dog. tonight she is relieved and thankful otis is back home. after he went missing for more than 12 hours. >>> kelly fitch is holding her pug otis a little tighter.>> i get emotional talking about it.>> reporter: the normally inseparable pair was separated when kelly said someone stole her from her san francisco apartment. the thief caught on her surveillance camera opening her door with a key. yesterday around 2 pm. >>> only two people have keys to my apartment. it is not someone that kicked it in.>> reporter: what followed next was something she will be grateful for. otis is somewhat of a social media celebrity. he's gotten nearly 30,000 followers on instagram. when otis met went missing she not only turned to her friends for help but also otis's own friends. who then reposted kelly's plea to help find the pug. that is on medication any special diet. >>> it was an effort of everyone. people were posting flyers. that is how the person found my phone number.>> reporter: that person a stra

hong kong's credit rating has been cut by fitch to aa. after months of persistent protests and violence continue. the ratings agencies sees continued economic and political integration with the mainland. says there ray dalio is a 25% chance of u.s. recession this year and next. the founder of the world's largest hedge fund sees banks having limited influence to address it. he noted the fed is cutting rates. cutting slowly, in other words 25 basis points not as fast as is discounted in the curve. >> hurricane dorian is barreling toward north carolina. it is brushing the coast of the states. coastal areas are forecasted to get six inches to 12 inches of rain and seven feet storm surge. charleston harbor is seeing 92 mile per hour winds. zimbabwe's ex-president robert mugabe has died at age 95. was a controversial figure especially in his latest years. he has been accused of human rights abuses and economic mismanagement. global news, 24 hours a day on air and at tic-toc on twitter, powered by 2700 journalists and analysts in more than 120 c

perceptions of equality and fairness of hong of hong kong's rule of law and its business environment fitch unexpectedly dropped the bombshell by downgrading the city's rating one notch from a double a plus to double a on the city's outlook from stable to negative this could have serious implications for the borrowing costs of companies and the government this is hong kong's 1st downgrade by fitch since 1995 but leader kerry lamb hit back to defend hong kong disputed the downgrade saying that nothing has undermined the one country 2 systems and that the protests have not affected hong kong's core competitiveness you know the as well as 2 other waiting agencies in movies are american companies and there are question beijing's growing influence on hong kong. in today's episode of the bride the drama the ben build to block a no deal break that has passed the house of lords without amendment the bill is now set to become law after the formality of the queen's assent to the measure is officially attained on monday in response prime minister boris johnson who on thursday said that he would rather

kelly fitch posted this picture on instagram this morning... her caption read in part "we got him. i'm speechless. shaking. emotional. the man who found him is the angel we all prayed for and i can't even begin to describe what he did to make this happen." otis is a popular instagram dog and has over 21-thousand followers. (grant) a big story tonight... opponents of california's new vaccine laws are now taking steps to get them overturned. kron 4's capitol bureau reporter ashley zavala explains. ((pkg)) (justine) coming up... a neighborhood is outraged after muni diverted buses from their area. and they say it was to help concert goers get to the new chase center. why transit officials say that wasn't the case. (grant) plus a california man is telling his story tonight... after getting trapped on a hiking trip with his family. how his ingenuity led rescuers to their location. (justine) plus... alaska airlines is giving away flights. we'll tell you how you can get your hands on the free vouchers. so that early retirement we planned. it's going ok? great. now i'm spending more time w

at fitch we do not think it makes much difference. for the markets, the pressure on the fed is something that is something they take into consideration. we are a little worried about that capture of central banks paying less attention to the economy and more to the markets. anna: thank you for your thoughts, james mccormack, director / global head of sovereign & supranational ratings, fitch ratings. minutes away from the open, we will look at your stocks to watch. german engineering giant named a new ceo. this is bloomberg. anna: welcome back, you are watching the boj governor giving a news conference in tokyo following the decision. no change in policy. they are reviewing their progress today. no sign of recovering in the global economy today. a steeper yield curve is desirable, the boj has referred easing. matt: really? can you believe that? they want steeper curves and have been pursuit of that for some time. let's talk about the stock market. >> they have been announcing reshuffles for a couple of days. yesterday was the chief tec

this is interesting, romaine, because s&p and fitch have ford on a negative outlook. amaine: yes, ford made commitment last year, saying they were going to try to maintain. this is bloomberg. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. 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. i am mark crumpton with bloomberg's first word news. demand the government hand over communications about the decision to suspend parliament -- it plan for a no deal it's plan for a no deal brexit. prime minister boris johnson is trying to make it harder for lawmakers to block his plans for a do or die brexit. he is suspected to suspend parliament until october 14. and the italian premier has won the first of two c

there from command spunk and as i've gotten up from fitch solution thank you to both of you for your time this morning. for moving away from the hall now to some news that slightly to reassure investors the united states and china are gearing up to hold talks aimed at resolving their prolonged trade dispute on wednesday this man there is deputy finance minister. will lead a delegation to washington to pave the way for high level negotiations in october a move has raised hopes that the 2 sides could be ready to come to an agreement to end a conflict that has seen the introduction of hundreds of billions of dollars in tariffs on field fears of a global recession and for more let's cross over now to our financial correspondent and host pun day to us how hopeful are we that talks this week will actually result the situation. i want to go let me put it this way that i would not like to bet my money on a solution just yet and i'm sure that's the same is the same with you but these are certainly the most encouraging time times in the ongoing dispute since may when the talks broke down and j

gotta laugh from fitch solution thank you to both of you for your time this morning. and that's it for me on the business team here and for more business news and features as always check out the consul ash business or follow us on social media i want to get jens thanks so much. to worry about. what's the connection between bread. and the european union you know. correspondent alan baker counts. writes this you live with the rules set by the. stepping recipes for success strategy that make a difference. baking bread on. hello and welcome to arts and culture where his work influenced generations of young designers even if some of his creations were downright crazy or lin born in region has died at age 91 and will pay tribute to him in just a moment and here's what else is lined up. 300 trees in a football stadium and inflation in austria imagines a possible memorial to the environment in a completely feature. and in our series 100 german must read daniel can run measuring the world imagine the contrasting lives of 2 geniuses all of the german entitlement. all his life

argentina's ability to meet its dollars in albany that debt obligations last month prompted rating agencies fitch and standard import to downgrade the country's sovereign debt rating. now when oil spills at sea the cleanup usually involves oil booms floating barriers intended to contain the slick from spreading of course that doesn't always work especially in high seas now researchers have come up with a new idea. the sinking of the freighter ground america after cut far off the atlantic coast of france in march was an environmental disaster heavy oil leaked and due to bad weather it was only possible to contain part of the kilometer long slick. following accidents like this hold her own but how and from trace and technical university and his team decided to look for ways to make oil spills harmless. so-called oil booms only work during good weather during rough seas the oil splashes over the booms. as i made toward and think we've developed a method to absorb oil and in the oil binders can be deployed by plane or helicopter even in bad weather or they can then be used to absorb the oil so the oi

a political solution to a military that's helping ease oil prices today but not the saudis worries fitch has downgraded their credit rating citing the rising tensions in the saudi arabia's message is clear an armed conflict with iran would have catastrophic implications for the global economy and send markets reeling it's a stark warning and one riyadh hopes will prevent military action by its long time rival a spate of attacks on saudi oil facilities allegedly orchestrated by iran earlier this month led to a huge spike in crude oil prices as saudi output sputtered.

argentina's ability to meet its dollar denominated debt obligations last month prompted rating agencies fitch as well as standard and poor's to downgrade the country's sovereign debt rating. the u.k. appears to be hurtling toward a no deal bragg's it which is making businesses nervous as well as consumers many are now stocking up in anticipation of shortages take a look james clark has prepared for the worst he's stocking up on groceries because many british supermarkets have warned that some of the shelves could be left empty in the event of a hard brock's it in other words if the country believes the e.u. without a deal. onto devol should mean getting a head start putting aside some canned tomatoes things like that and. not because i think there won't be anything in supermarkets but because there might be shortages of certain products so to avoid problems my wife and i are stocking up on some items. one in 5 brits is now stockpiling food a survey shows they're spending an average of $380.00 pounds to do so james clark has also stocked up on medication he's aware that 3 quarters of britain's

we are hearing from fitch that yen's are pacing downgrading risk because of the stronger dollar. denise: the dollar has been kind of sideways for the last few months. i think the next move will depend on what the fed does. easing, ied also wouldn't expect to see a lot of dollar strength. as long as all the central banks are using in a more synchronized cycle. if we did see dollar strength, that would be a risk, but i don't see the conditions that -- for that right now. brian, there is growing talk about the limits of central banks ability to make any difference. certainly in a time of crisis and growing pressure on the fiscal side of things. from the bond market point of view, do you see any signs of fatigue, there is not much more the banks can do that will have an effect? brian: i think that is absolutely correct. look at what happened in europe. not want todid start qe, and that raises a lot of alarm bells. ok, there are a lot of folks who oppose further easing, just going back to the tried-and-true playbook of throw a lot of money at the bond market and force credit to be che

rating agency fitch has downgraded saudi arabia's credit from a plus to a the agency says it's in response to rising political and military tensions in the gulf and a deterioration of the kingdom's fiscal position riyadh is planning to launch an initial public offering of shares in one of the world's biggest oil companies around go. well the action is underway on day 4 of the world of flight extraction ships right here in qatar let's cross over to peter stand at our sports studio international stadium hi there peter. i dream it's another busy night here in doha with 6 titles up for grabs could there be a medal for local hero of the last month he goes in the 400 meter hurdles final hoping to win these countries 1st medal of these championships the top men sponsors are back on the track for the samey finals of the 200 meters change of eyes will be on the favorite american lyall's and will reflect on a great achievement by jamaicans shelley and fraser price will champion in the 100 meters for a 4th time just 13 months off to giving birth to her son. will have all that and action from the rugb

rating agency fitch chance to integrate it so dear abuse credit rating from a plus to a the agency says it's in response to wrong simplistic owen military tension in the gulf region and the deterioration of the kingdoms fiscal position kingdom's planning to launch an initial public offering of shares in saudi aramco one of the world's largest oil and gas companies. u.s. president donald trump hours once again waded into the impeachment inquiry tweeting on monday the fake whistle blower complaints it's not holding up it's mostly about the call to the ukrainian president which in the name of transparency i immediately release to congress and the public he goes on to say the whistleblower knew almost nothing he says it's 2nd time to information and fraudulence in a 2nd so he says spy chief adam schiff illegally made up a fake and terrible statement and pretended it was trump's he says schiff statement read to congress bore no relationship to what trump says on the call the ukrainian president's he finishes the tweets with arrest for treason our white house correspondent kimberly hawkins ha

emma richards is an oil and gas analyst for fitch solutions. good afternoon to you. the big question in the minds of investors in the immediate term is how long the disruption will go on for and what it will look like. we are hearing this lunchtime that perhaps the saudi company is saying to some of its clients, you could just be a matter of days rather than weeks. the honest answer is we do not have too much clarity on that as of yet. they have been reassuring buyers that they will meet obligations in october. that would suggest they are reasonably confident they can restore at least most of the supply that was taken offline within a matter of weeks, rather than months. they had said they might be able to provide the volume of oil but it comes in different grades, doesn't it? there will be some crude quality issues and buyers might have to look to other markets to replace lost output. in general it seems it will be able to meet the majority of its commitments more or less to the satisfaction of the buyers. it has shone the spotlight on the fact there are strategic r

and they're going to be looked after as well and there were documents out there from fitch that implied. it was supporting this bond ok robert sally great to talk to you thank you for your time today thank you now the tit for tat tariffs between the u.s. in china have gone into effect in the ongoing trade war and there is little doubt both countries are hurting many american farmers are suffering because it is views in fact farm bankruptcies are up and the troubled ministration has given $24000000000.00 in financial aid but there are always exceptions garlic growers are actually profiting from the standoff with china rob reynolds spoke to one farmer in gilroy california the heart of the country's garlic growing region. the garlic king of california can christopher is the 3rd generation to run his family's garlic ranch in the town of gilroy christopher ranch is the united states largest producer and processor of the pungent bulbs so essential to so many of the worlds we see it employs a 1000 workers earn $15.00 an hour good wages for agricultural and food processing work christopher took

., oewd, brown and cobb -- caldwell, black and fitch, salt wash, jacob engineering, and emerson. last but never least, i would like to thank andrea baker and peugeot, without their opportunity a would not be standing here today. [applause] i opened so bull october 27th, 2017 with the joys and dreams of becoming a business owner. i have bounced around san francisco because of the permit process that san francisco has in place. so when andrea reached out to me , i could not resist. my grandmother has lived in -- i have lived in bayview all my life. have patience. so the decision to be part of bayview was not hard to make at all. we are facing our challenges, but with the support and the help of our community, as well as bayview with big h., i hope we have high hopes that high dreams of how far this space can go. again, i like to thank our mayor , i'm like to thank everyone for coming out, and i see my son back there in the back. love you so much. thank you for coming to support your mom, as well. [cheers and applause] >> hello, everyone. my name is harold. i own big h. barbecue. bo

and they're going to be looked after as well and there were documents out there from fitch that implied. it was supporting this bond ok robin sally great to talk to you thank you for your time today thank you now the tit for tat tariffs between the u.s. in china have gone into effect in the ongoing trade war and there is little doubt both countries are hurting many american farmers are suffering because of his views in fact farm bankruptcies are up and the trumpet ministration has given $24000000000.00 in financial aid but there are always exceptions garlic growers are actually profiting from the standoff with china rob reynolds spoke to one farmer in gilroy california the heart of the country's garment growing region. the garlic king of california can christopher is the 3rd generation to run his family's garlic ranch in the town of gilroy christopher ranch is the united states largest producer and processor of the pungent bulbs so essential to so many of the world's cuisine it's employs a 1000 workers earn $15.00 an hour good wages for agricultural and food processing work christopher

and they're going to be looked after as well and there were documents out there from fitch that implied. it was supporting this bond ok robin sally great to talk to you thank you for your time today thank you now the tit for tat tariffs between the u.s. in china have gone into effect in the ongoing trade war and there is little doubt both countries are hurting many american farmers are suffering because it is views in fact farm bankruptcies are up and the trumpet ministration has given $24000000000.00 in financial aid but there are always exceptions garlic growers are actually profiting from the standoff with china rob reynolds spoke to one farmer in gilroy california the heart of the country's garlic growing region. the garlic king of california can christopher is the 3rd generation to run his family's garlic ranch in the town of gilroy christopher ranch is the united states largest producer and processor of the pungent bulbs so essential to so many of the worlds we see it employs a 1000 workers earn $15.00 an hour good wages for agricultural and food processing work christopher took u

abercrombie and fitch said this week there will cut the amount of clues that the manufacturer in china from 2596 that the manufacturer in china from 25% to 20%. we are talking about the world's two biggest economies. china is american because my biggest trading partner. it is not simple to move supply chains that have been there for a very long time to india, for example, or vietnam. there are signs that businesses are thinking about it, but it would be easy. events are taking place to mark 80 years since hitler's invasion of poland. two days later, britain and france declared war on germany. ceremonies began in the early hours of this morning in the polish city of wielun where the bombs first fell. the foreign secretary, dominic raab, willjoin more than a0 world leaders at commemorations in warsaw today. as war beckoned eight decades ago, britain began evacuating 1.5 million people, most of them children, from cities to the countryside. operation pied piper was the biggest and most concentrated mass movement of people in britain's history. hannah gray has been speaking to some of thos

and they're going to be looked after as well and there were documents out there from fitch that implied that it was supporting this bond ok robin sally great to talk to you thank you for your time today thank you now the tit for tat tariffs between the u.s. in china have gone into effect in the ongoing trade war and there is little doubt both countries are hurting many american farmers are suffering because it is views in fact farm bankruptcies are up and the troubled ministration has given $24000000000.00 in financial aid but there are always exceptions garlic growers are actually profiting from the standoff with china rob reynolds spoke to one farmer in gilroy california the heart of the country's garlic growing region. the garlic king of california can christopher is the 3rd generation to run his family's garlic ranch in the town of gilroy christopher ranch is the united states largest producer and processor of the pungent bulbs so essential to so many of the world's cuisine and employs a 1000 workers earn $15.00 an hour good wages for agricultural and food processing work christophe

rating agency fitch has downgraded saudi arabia's credit from a plus to a the agency says it's in response to rising political and military tensions in the gulf and the deterioration of the kingdom's fiscal position riyadh's is planning to launch an initial public offering of shares in one of the world's biggest oil companies around coke. hong kong's government is ramping up security ahead of china's national day on tuesday police are anticipating mass protests across the city as the territory continues to face months of demonstrations but despite the unrest business continues in the financial district with a beer company budweiser they're doing on the hong kong stock exchange sarah clarke has more. after a weekend of violence between police and protesters hong kong is business as usual . these demonstrations have become the norm of the last 4 months young rist has threatened the city's reputation as an international financial center but on monday the asia pacific arm of the world's largest brewer a day boot on the hong kong stock exchange rising nearly $5000000000.00 it's the 2nd largest

abercrombie and fitch said this week that they will cut the amount of glue is a manufacturer in china from 2596 glue is a manufacturer in china from 25% to 20%. it is worth remembering you're talking about the rope because my two biggest economies in china is america does not biggest trading partner. it is not simple to leave supply chains that have been there for a very long time to india or vietnam. there are signs that businesses are thinking about it, but it will not be easy. events are taking place to mark 80 years since hitler's invasion of poland. two days later, britain and france declared war on germany. ceremonies began in the early hours of this morning in the polish city of wielun, where the bombs first fell. the foreign secretary, dominic raab, willjoin more than a0 world leaders at commemorations in warsaw today. let's return to the situation in hong kong and bring you the latest pictures from the airport. we were hearing earlier the determination of the protesters to block hong kong airport. they were unable to get into the terminal building but they have stopped trains

fitch has any warning about global growth. it's's expansion in the world economy will decline to the slowest rates since 2012. that's because of the effects of the trade war. growth is now seen a 2.6% this fromand 2.5 next, down 3.2% in 2018. fitch says -- i set it downgraded forecast for 40 country since june. china has repeated a pledge to further open the economy, adding it will ask to safeguard multilateral trade. to reviveed negotiations next week. they said they will work on cooperation and innovation and will protect intellectual property. they say measures will be taken to make it easier for foreign countries to work in china. as the sales tax rises in japan on tuesday, a fundamental government policy, but one which may cause the economy to stumble. it climbed from eight to 10% in attempt to reign in the largest public debt. it has triggered a slowdown and derailed political careers. shinzo abe will become japan's longest-serving prime minister next month and has twice -- has a latest sales tax hike on the way. forecas

moody's and fitch have downgraded their outlook on hong kong. >> i uphold this principle of accountability. at the moment, it is all for us to see that hong kong is undergoing a very difficult situation. aretions are punishments not going to help bring hong kong out of this situation. we need to work as a team, not only with the government, but with the society at large to overcome the current difficulties. that is why we all take up the challenge to continue to serve the people of hong kong and work even harder and engaging in listening to the people to achieve that particular objective. >> a question from reuters. two questions. moody's, the credit rating agency has downgraded its outlook for hong negative.stable to what is your comment? the second question is, according to a number of reports, the hong kong government has sought to hire a pr -- pr firms to revamp its public image. is this true? true that the pr firms have rejected these bids? if so, what is the hong kong government's plan with regards to restoring its image? hashe financial secretary issued a detailed statement about mo

fitch hit hong kong with a downgrade. fitch moved the financial hub's long term foreign current see issue default rating to double a to aa 34rus. lam said she agreed disagreed with the fitch downgrade. >>> and hedge fund toy tan dahlio says he sees a 15% cha--a 20% chance of recession. that's good news because months ago he said he saw a 40% chance of recession. >>> it is jobs friday. we are 20 minutes away from the august employment report let's get the our jobs panel for an in-depth look in the labor market and economy joining us, jason fuhrman. michael strain, and with us on set is jill carry hall, bank of america's merrill lynch's senior u.s. equity strategist i will go in the center, jason and just start with you. does the adp report indicate this could be another surprise in being maybe a better number are there things you are looking at indicating it could be a softer number? >> adp doesn't have a whole lot of predictive power. i think you are besting to off of the general trend, subtract a little bit for weather,

a from a double a plus rating and fitch says the recent protests are raising doubts about the region's governance. tell us where this could go if this continues, if the autonomy continues to be threatened by the chinese government and when did this change? was it when china decided it wanted to have a dick day r torr life or when do you think this started to change? >> well, it changed since a long time ago. i think since the last maybe 20 years. but it changed rapidly since the xi-jinping. we've seen encroachment on our freedom, encroachment on our rule of law and human rights. we feel that, if this is not going to stop, if we don't fight and stop this encroachment, i think hong kong is finished. without the rule of you law we won't have the financial -- we will lose everything we have. maria: its is a battle of values. it's a battle over governance. you've got a communist dictatorship in china. you say the questions over autonomy started with the asense of xi-jinping. he's going to be in power for life. he's a dictator for life. >> i don't think he will be in power for life. he conce

fitch says it is testing the framework that governs the relationship with china. carrie lam says she disagrees with the downgrade. trade policy uncertainty is holding back global growth and may weigh on the world economy in 2020, according to a federal reserve research note. it was hard numbers on the argument the bank has made for months, saying the trade tensions led to a decline of .8% in global gdp but the first six months of this year. barrelingof dorian is towards north carolina where it may briefly make landfall. coastal areas are forecast to get 6-12 inches of rain and storm surge as high as seven feet. battered charleston harbor with 92 mile-per-hour per hour winds and killed 30 in the bahamas. and oil is headed for its biggest weekly gains since july as american stockpiles shrink. inventories slipped by 4.8 million barrels, more than double what was expected as the trade war escalated. but they are getting some rest bite -- respite. robert got a has died. mugabe has died. a controversial figure in his later years, he has been accused of economic mismanag

fitch did say the financial impact of the unrest will be limited and they still see solid demand when it comes to the public, and multiple revenue streams. one of the key things they are is one of hong kong's big landlords. they still reportedly plan to release new residential projects to boost the housing supply in the city. they also operate overseas railway links in the u.k., australia, sweden the like, so there are those other ways they as mitigate the risks, and for the derailment, they say they still don't know what happened here a couple of days ago. they are not ruling out any possibility under waiting for the investigation to conclude. man in hong kong, thanks very much. there is plenty more to come on "daybreak asia." stay with us. this is bloomberg. ♪ ♪ paul: this is "daybreak asia." i'm paul allen in sydney. shery: i'm shery ahn in new york. let's check the business flash headlines. alibaba finds a perfect sentiment -- perfect investment in a taiwanese set up, alibaba's biggest on the island although terms have not been disclosed. it is an augmented reality venture tha

fitch says police now have a few good leads. otis has 23,000 followers on instagram. very popular pug. >>> bad weather can put reporters right in the middle of a story. >> this happened during the middle of a live report in south dakota. colton malesky reporting on the flooding caused by seven inches of rain outside sioux falls. as a car drove through wheel-deep waters, then the wave came along. he had to cut things short. >> look at -- right here we have somebody trying to drive through the street -- >> wow. first off, that person is very brave for driving that car through. >> brave is one word you could use. >> right. and here comes the wave. >> back to you in the studio, and he bails. professional. >>> coming up, the big losers and winners in last night's democratic debate. >> our roundtable of reporters weighs in. frustrated that clean clothes you want to wear always seem to need an iron? try bounce wrinkle guard dryer sheets. the bounce wrinkle guard shorts have fewer wrinkles and static, and more softness. it's the world's first mega sheet that does the job of t

bwork has a credit rating of from both fitch and s&p. and we are watching apple and soft con. it was confirmed they broke chinese labor law while building iphones, using too many temporary workers in the world's largest iphone factory. the claims came from china labor watch. the group says it found other labor rights violations in the past. i am joined by tom, who currently has a buy rating on apple, enjoining us in the studio, -- and joining us in the studio is our reporter. deal?s a big reporter: yes, it is a big deal, because apple is at the top of its game, in top of the industry of treating work goals -- workers fairly, and here, they and foxconn are saving a lot of money by employing temporary workers versus full-time workers year round. move theom, does this needle for you when it comes to apple stock? sure. i do think it is disappointing, and i agree with mark in that regard. it is sad that apple chose to use so many temporary workers in making their iphones, but when i think about the challenges facing technology companies, especially on the terror front, i do think t

yvonne: fitch recently cut your credit reading. -- arating. moody's downgrading you to negative. mtr's dependence on the hong kong government. does the political unrest forced you to diversify your risk of little bit and away from hong kong? how do you hedge your risks not? w? >> i think one thing i would emphasize is hong kong is home to mtr. we do have to continue to do our job to make sure we provide a good service. this is the core market that mtr has to be in. so, in spite of all a challenges, we will continue to work hard on it. back to your comments about all of the rating, it is not good news to mtr for sure, but i'm just hopeful's situation hong kong will improve very soon. he hongt we mtr and t kong community can work together to get back to normal. yvonne: the mtr chairman. take a look at their stock, 1%.htly highgerer by fallen.onths it has given the unrest in dealing with the violence either subway stations. but a lot of questions of how they diversify away from that risk. they do have a lot revenue streams outside of hong kong as well. they are also one of hong kong

more problem for hong kong, the city facing more protests over the weekend and now, a downgrade from fitch and it's jobs friday. and looking for signs of weakness or strength in the economy and we're going to figure out what the fed's next move is. the journals lead story is it will be a cut. it is september 6th, 2019 and squawk box begins right now. ♪ >> live from new york where business never sleeps, this is squawk box >> good morning, everybody welcome to squawk box here on cnbc we are live at the market site in times square. let's take a look at u.s. equity futures at this hour there's green arrows for the dow and the s&p futures. this is after two big day of gains in the markets the dow is up 372 points after gaining 334 points the day before so far we're in the green for this week. the nasdaq is down 2.5 points but you did see big gains for the s&p is and the nasdaq as well the s&p was up by 38. >> let's take a look at what happened overnight in asia

taylor: wonderful pure that was kevin mcneil with fitch rating. thank you for joining me. longtime alibaba chairman jack ma retires from the company. what is next for the chinese internet leader. next for the chinese internet leader. this is bloomberg. ♪ this is bloomberg. ♪ taylor: this is "bloomberg technology." i'm taylor riggs in san francisco. tuesday, marked an end of an era for chinese internet giant alibaba. chairman jack ma stepped down bigs executive chairman. the biggest e-commerce company had more than $56 billion in the last financial year. ma became china's wealthiest man with a net worth of more than $40 billion. we take a look at his story. >> jack ma started out teaching english more than 20 years ago for just $15 a month. in 1999, he jumped on the internet train, setting up a platform for business-to-business selling. that's what started alibaba. he took aim at ebay with towel bow which led individual sellers trade with each other. 2007 was a milestone as he listed the business rating division in hong kong only to do list by his later as performance d

that was kevin mcneil with fitch rating. thank you for joining me. longtime alibaba chairman jack ma retires from the company. what is next for the chinese internet leader? this is bloomberg. ♪ here, it all starts with a simple... hello! -hi! how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your xfinity store today. taylor: this is "bloomberg technology." i'm taylor riggs in san francisco. tuesday, marked an end of an era for chinese internet giant alibaba. chairman jack ma stepped down as executive chairman. under his leadership, china's biggest e-commerce company had more than $56 billion in the last financial year. ma became china's wealthiest man with a net worth of more than $40 billion. we take a look at his story. >> jack ma started out teaching english more than 20 years ago for