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tv   Bloomberg Markets Americas  Bloomberg  October 22, 2019 1:30pm-2:00pm EDT

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proposal he will scrap the deal and call an election. he will find out later today if he has a chance of getting his deal approved and will also learn if they can happen before the october 31 deadline. iraq pushing back against u.s. troops leaving syria. the country says american troops cannot stay there. the defense secretary said the u.s. forces pulling out of northern syria would go to iraq to help in the fight against the islamic state. president trump ordered the bulk of u.s. troops in syria to withdraw after turkey began its military offensive there. greece is promising to toughen the asylum procedure for migrants and speed up deportations. the legislation submitted to parliament also calls for an expanded use of detention. a surge in the arrival of migrants has put severe strain on the greek islands and near the turkish coast. more than 25,000 asylum-seekers
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and migrants remain, mostly in overcrowded camps. former president jimmy carter had another fall in his home, fracturing his pelvis and going to the hospital for treatment and observation. a spokesperson for the carter center described the fracture as minor, saying the 95-year-old carter was in good spirits at a medical center in atlanta after falling on monday evening. and that he was looking forward to recovering at home. this is the third time he has fallen in recent months. he fell in the spring and required hip replacement surgery. he fell again this month. and despite receiving 14 stitches, he traveled the next day to nashville, tennessee to rally volunteers and help build a habitat for humanity home. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg.
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♪ >> live from bloomberg world headquarters in new york, i'm shery ahn. >> in toronto i'm amanda lang. , welcome to "bloomberg markets." >> here are the top stories we are following from around the world. justin trudeau has this occurred -- has secured a victory, but now he will be forced to depend on other parties to govern. what it could mean for trade policies with the u.s. is the ceo of energy energy announcing net zero carbon. how else they are preparing for climate change. helping farmers deal with threats imposed by climate change.
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we will speak with the ceo about that and how the company's position itself as the trade war takes its toll on global agriculture. amanda: justin trudeau was elected to a second term as prime minister, but he will preside over a minority government. the liberal party lost its parliamentary majority and the popular vote. >> to my fellow canadians, it has been the greatest honor of my life to serve you for these past four years, and tonight you are is sending us back to work for you. what does the new minority government mean for the future of u.s. relations, we are joined by a former ambassador to canada and frank mckenna. thank you for being with us. amanda: ambassador mckenna, we obviously are going the other direction, you dealt with a
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different scenario, but you have done many things in this country in public life. what is different about a minority government when it comes to everybody on the u.s. side who has been dealing with a single player and a majority government, now they have to take about coalition and other forces, does much change? >> i do not think much will change because of the strength of the minority. minority government would mean that u.s. counterparts would need to count the votes and find out where the support would be coming on an issue, but for the next year or so one can assume the government can deliver on any commitments they make. shery: president trump is congratulating the prime minister, here is the tweet saying "congratulations to justin trudeau. candidate is well served. i i look forward to working with you toward the betterment of both of our countries." ambassador blanchard, we know
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the president has not always seen face-to-face it with the prime minister and we know that justin trudeau's brand of politics is progressive and fighting for climate change, and if they need to depend on small minority parties what does that mean for the u.s.-canada relationship? >> i think relations will be good. they usually are. the other thing to remember is no matter what is said in the white house, and that is a very positive message, i might add, but on a day-to-day basis almost all the u.s. departments and ausncies and barrows -- bure work closely with their counterparts in canada, so i think that will continue. the tone at the top will probably vary. person in theatic white house and hats off to justin trudeau for putting up with it. i am surprised the prime did not run against donald trump,
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because universally he is not well-liked in canada. what i think relations will be good, i think that the new nafta will be approved and we will muster on. thehe way, frank mckenna in studio was probably one of the best prime ministers candidate ever had. say, ambassador blanchard, obviously as governor of michigan, you know, one of the things many americans know, certainly americans at like you know, even are far right party can fail left of your democratic party -- feel left of your democratic party, we do lean left up here. amanda: we do have a supportive party here against the current usmca. so to your point, do you think the wheels will keep turning and we do not need to worry about a range being thrown into are important relationships, including at the state level? >> almost all the governors work
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with the provincial premiers at the state level. this is a really close relationship. despite some so-called rough patches in recent years, relations are quite good. the one thing i hearken back on is when i was in ottawa, this looks strangely like the election of 1993, where the block ended up being the official opposition and the reform party was close behind. factors.hese regional the good news for canada is the block is not committed to another vote on separatism and that is a good sign. it is easy to be abundant in nt sitting -- pundi here in washington. but for justin trudeau, he needs to get experience to people to work with the other parties and work with his own party.
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he needs real pros to deal with parliament and all these dynamics, which are difficult in today's world. if the ambassador could vote, it sounds like he would vote for you to become the next prime minister. how would you in that role deal with the complex situation canada is in when it comes to the relationship with china and the u.s., especially after the detention of the cfo of huawei? frank: the ambassador is very kind. he did a marvelous job as the ambassador here and in his other roles, which speaks to the relationship between canada and the u.s. it is more than the personalities at the top, it is suchdeep and it will be for a long, long time. i think that if i was prime ministers judo, i do not think he needs advice from me, but i would follow something i would
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say every day, i had a little sign on my desk, even when i had all the seats, do not be obusive, do not be arrogant, d not let hubris cloud your judgment. governor as if you earned every single vote. and there is no present that does not need to be respected. in our case with china, i think we are making minor progress. a lot of work is going on in the background. i feel like the path goes through the united states to china and their reconciliation with china, including with huawei. the as canadians, i do not think that we should feel anything but proud, if i could use that word, that we have stood for the rule of law and have done the right thing. it is costly, it is costly to a
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lot of people, including several of our diplomats who have been imprisoned, and to our farmers, but i think we did the right thing. and we should continue doing the right thing. amanda: thank you for the reminder that there are two people who remain in prison. two canadians. back to james, because it is good perspective to say that we have been here before, regionally speaking. wastually want to -- there something that happened in the election, that was a because i endorsement from barack obama of justin trudeau and it caused days to here -- caused a stir here. and i wanted to know what you think about the former president weighing james: there was a way to say something nice without looking difficult here to be democrats, criticizing the russians, now donald trump trying to get the
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ukrainians to interfere in our election, now to have a former president putting his toe in the water in canada. so that is a weird thing. there was a way to say nice things about him without appearing to endorse. i do not know about the impact there, you could tell me. but i thought it was a little strange. shery: a new era in politics. ambassador blanchard, thank you. and also to frank mckenna. coming up,bating -- combating climate change. we will talk about the future of renewable energy. this is bloomberg. ♪
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shery: this is "bloomberg
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markets." i'm shery ahn. amanda: i'm amanda laying in toronto. a summit is underway in new york bringing together the most innovative minds driven to environmentally conscious business. and with us now is mauricio gutierrez, the ceo of nrg energy . i want to start with this goal that you have of heading toward carbon neutrality. it is tougher electricity producers, so talk us through how ambitious that is for you. mauricio: thank you for having me. we just realigned our carbon emissions to conform with a new scientific imperative, to ensure that we avoid the worst impact of global warming to a 1.5 degrees trajectory. this will put us at 50% reduction by 2025. from a 2014 by 2050 baseline. and so far, our progress has
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been great. since 2014, we have reduced emissions close to 40%. so we are on track to achieving this very important milestone in 2025. shery: does it become more complicated when this administration's climate policies seem opaque and more vague when it comes to where companies should go? mauricio: from barbara preston -- from our perspective, our customers are driving this, so it is important to customers is important to us. we made a shift about four years ago to put customers at the center of our business. traditionally qamar industry, we made megawatts and we sold them to our customers. what we did is we put them at the center, informing not just the way that we operate, but the makeup of our portfolio. so it is our customers that are driving this innovation and change. amanda: this is coming at a time
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when you are shoring up your balance sheet with significant cost-cutting, debt repayment in focus, so what do you tell investors about how you are positioning the company to clean up some debt? mauricio: as you mentioned, we actually are now on a path to get investment grade credit metrics. i believe we are already here. but first and foremost, it was to ensure that we had the most cost-efficient structure for our company. second, take care of the balance sheet. and then have a balance -- location policy between growth and returning capital for shareholders. so we are pleased with where we are today and we have not been as strong on our balance sheet. nuclear -- does this also mean you will expand your nuclear portfolio?
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mauricio: we are looking at wind and solar. even above nuclear. those will be the technologies we will be looking at in the future. amanda: one of your challenges is 43% of your generation in the u.s. is natural gas, so how do you prove it away to those new energies -- how do you pivot away from that and adore these new energies? bridging to will be a renewable energy future. so far, we have only talked about the supply side, but demand is also very important. the cleanest a megawatt is the one that we do not use, so we are seeing technology innovation on the demand side from controllable demand, smart controls. so i think that things will become more smarter and we will be powered more by renewable generation in the future. shery: thank you for your time. ceo,was the nrg energy
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mauricio gutierrez. coming up, protecting global food security. plan.ta says they have a we will speak with the ceo, next. this is bloomberg. ♪
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shery: -- amanda: this is "bloomberg markets." voice from ther sustainable business summit in new york, we welcome syngenta's ceo, erik fyrwald. shery: thank you for coming. you just announced a 2 billion-dollar plan to spend over the next five years when it comes to tackling climate change, tell us the measures you are thinking of. erik: this is a critical time for agriculture with climate change, not only are farmers dealing with the worst weather
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ever, but also we need agriculture to be part of the solution to climate change. so we announced a $2 billion investment going to breakthrough technologies, to help farmers deal with climate change, products that will help them deal with flooding, high heat and drought, but also help them reduce the impact of farming on the climate, so reducing the amount of co2 emissions, go toward carbon neutral farming, keep the carbon in the soil, stoppingelds , and deforestation in the world. amanda: how close are you to an ipo? erik: we said we would do it within five years of when we were purchased, that was 2.5 years ago, so within the next 2.5 years. shery: what steps are you taking in order to prepare? erik: we are talking with banks,
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getting our story together. we are getting ready further -- for when the market conditions will write. shery: what about how to compete with your rivals? erik: we made a major acquisition last year in brazil and argentina, very important markets for us. we have been investing in our base business, adding more research could be ability and commercial capability and more digital tool capability, that is very important. now we are focused on expanding our capability in china. we want to be leaders in china ahead of our ipo. amanda: characterize, when you talk about being leaders, how important that market is, what kind of growth and penetration you want to see in china? erik: it is a hugely important market. you look at that market, the technology players are all small. many chinese seed companies and crop protection companies. all the international companies
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have been there for years, but we have small single-digit market share. so china needs a leader, and we are putting poll -- full effort into it, building our base business, investing in people, strengthening our cap abilities on the ground, but we are also doing m&a work. we expect the combination of those to enable us to build a clear leadership position in seed and crop protection. wee we get that, then will go for an ipo. shery: you are a company heavily dependent on u.s. farmers. so how is the u.s.-china trade war affecting your business and what changes are you seeing? erik: the u.s. is our largest market in the world. it was a huge challenge of this year because of the weather, there was a horrendous flood in the u.s., but also they trade war. next year, we are hoping for better weather, but we are also hoping that a trade deal can happen, at least in agriculture,
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because it is really important for both china, who needs the agricultural products that the u.s. farmer makes and produces, but also import for the u.s. farmer, who needs the chinese agricultural markets. we are trying to encourage that a deal get done. we would love to see that happen, it would be great. the u.s. farmer is the most productive in the world, that is why we have so much capability here to serve the u.s. farmer. the chinese market is the biggest in the world, so it would be good to have those lined up again. amanda: it would, but there is a lot that has to happen. how much concern, you may even hear it from the chinese side, progress, is being made on the trade tensions, because you are a company that could be caught in the middle? erik: we feel like things are getting better and we are hoping that something happens in the distantistant -- fairly future, but at the same time we have a large business all over
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the world, so we will keep serving farmers everywhere, including here in the u.s. because the better they do, the more options they have for exporting products. shery: you have talked about m&a in china, anything you are looking at right now? erik: a number of things, both for strengthening our base business, growing organically, strong double digits, but also acquisitions i expect to announce sometime next year. shery: we have heard from the chinese ambassador that the acquisition of syngenta was a mistake, remember that? and he is prepared to tell the enterprise to sell the pesticide maker, have you heard anything else? erik: i heard about a day later, our chairman, who is the chairman of other companies, a very senior chinese official, also go publicly and to say that syngenta is a very important asset, a strong company that is
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doing well and the chinese are very pleased with their investment and looking forward to the future. shery: ok, the syngenta erik fyrwald erik fyrwald ceo,. -- ceo, erik fyrwald. note, kellyanne conway has been floated as a replacement for mick mulvaney. the president mentioned this a couple tim -- this a couple times. it could be steven mnuchin or kellyanne conway. coming up, the u.k. parliament is set to kick off a brexit vote. we will have the latest right here. from toronto in new york, this is bloomberg -- and new york, this is bluebird. ♪ -- this is bloomberg. ♪
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marco: i am mark crumpton with bloomberg's first word news. in the u.k., lawmakers are set to vote minutes from now one
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prime minister boris johnson's brexit deal.even if he gets enough support in the house of commons, it may not be enough to get the agreement through parliament by his october 31 deadline. johnson says of parliament defeats is proposal and votes for another delay, he will scrap the deal and call for another election. stay with lumber for live coverage of the vote. u.s. secretary of state mike pompeo says the 120 hour cease-fire along the syria-turkey border is due to come to an end today. theeo was making remarks at conservative heritage foundation today in washington. secretary pompeo accompanied vice president pence last week on a mission from president trump to pursue a cease-fire with turkey's president. pompeo says president trump warned turkey against taking military action. conducted the erdogan we and when

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