minister begins selling the deal he made with lawmakers over the weekend. the hardliners are refusing to support tsipras. a battle for a nuclear accord viennaran goes from th to congress. john boehner says he will do everything to stop it. obama sees it as historic. i am rishaad salamat. gdp figures. >> getting better than expected. it is the same as expected. %.e consensus was 6.8

better than expected. the stabilization that many have talked about in the economy is, perhaps, taking old and is in line with the government target. let me give you the other numbers. mostly better than expected. retail sales come in. the retail sales have not been in single digits since 2006. low.is but, better-than-expected. production is coming in better-than-expected. also, a little bit better than expected and the same as may. gain on year to date. gdp comes in better-than-expected. 8% quarterecting 6.

over quarter. the consensus estimate was for 1.6%. it looks like rings are better, better,-- things are broadly. rishaad: that is the picture painted, at the moment. we have the reactions at the markets with yvonne. down in the are shanghai composite right now and it was a volatile day that we saw yesterday as we look at the rally gains. seng is up. we have a broader picture in the shanghai markets. they extend the kleins now. now.e declines

we are seeing shares slightly up after dropping 1% yesterday and is down, facing pressure out of the five-day rally. let's talk about black rock and the new headlines coming from them. they see share prices driving higher and the stock prices are not impacted by the economic outlook. let's take a look at the aussie-dollar. it went up after the news came out and you can see that it extended the gains and strengthened to .74 cents. we are seeing positivity here today. it is doing pretty well the last couple of sessions and it is up .5% right now.

muchseng is flat with not reaction. rishaad: thanks for that, yvonne. that theig story is bank of japan is concluding a pricing meeting and we have signs that the economy is in a soft patch in the second quarter and we have been examining that. not much expected, in terms of rates. even monetary stimulus looks remote. .> absolutely, rishaad we have the inflation number at 0, at the moment and. on theus will be language and there is not expected to be any change to monetary stimulus policy. they are going to announce a forecast for the three-year and

they are coming off of the low from the recession with the officials say there has been a pick up in consumer confidence. in ae seeing weakness number of areas and the economy hit a soft patch. will holdoned, kuroda a conference later on, following the release of the monetary stimulus program. it is probably around 80 billion yen being pumped through the system. rishaad: let's take a look at the other stories we are watching for you today. bhpet's get started with writing down onshore energy assets. it will account for a majority of this.

geologicalcal -- a complexity as part of the plan. the president says it does not reflect the business. in a statement to the stock exchange, they say it would be recognize as exceptional. bhp talks about goodwill impairment. as for the charges, the business $24a net operating asset of million. the primeeece, minister is facing a storm at home as he sells the bailout deal that he struck with the creditors over the weekend. the hardliners will say the cannot support it. tsipras defended the deal that

withs "forced to accept" "a knife to the neck." he says that all of the mid-term financing needs will be covered. european officials are at a loss on how to create loans that will keep greece from default thing. finances are getting worse and the governments are doing nothing to help out with the funds. capital controls ravage the economy that is in the middle of a double-dip recession. yum! brands fell. fullympany is not recovered from last year.

they earn more than half of the revenue from china. sales were down. they have been trying to convince chinese consumers the food is safe to eat, after a scandal accused a supplier of using outdated meat. there is more competition from local restaurant rants. -- brands. kfc is trying to appeal to consumers with herbal tea and seafood. they say they will increase earnings by at least 10%. rishaad: a story we are following is on bloomberg.com. coming up, we will go to the worse find why than expected inflation numbers are dampening hopes. spacene a spotlight into

and we show how pluto is creating a buzz online. ♪

china releases second-quarter gdp numbers and we will break them down. thank you for joining us. the data came and it was better than what the economists have been calculating. what wasis right wanted. 6.9%-7% or so. it was going to be helpful. i think that, in the end, the investment was better in june and, also, it will be strong financial activities in the

second quarter that will help. >> you are looking at an uptake and you think the worst is probably over. >> the government has been working hard to get the funding in the last couple of months. improving. have continued capacity and investment in the sector with weak goal financial activity. -- weaker financial activity. rishaad: that has a lagging effect. the pvcis combined with

and monetary easing is not effective with the demands for it. they were using the investments in thewill see an impact next couple of quarters. we are looking for an uptake in the growth and we still think that, for the year, the growth is likely to be below 7%. what is the biggest headwind? >> it is still the ongoing property adjustment. the protests continue in the .ity >> it ties in nicely with what you said and they have a lot of

inventory. the prices have been contracting. course, there we go. down? you line this there is a restructuring of and theyrate sector have to deal with the leveraging in a stationary environment with prices so negative. they need to do a lot of restructuring and it is still ahead. >> we talk about it and we never get it. >> there is progress, in terms

of the incentives next to ownership. unfortunately, a lot of it is a .elay it is very slow and it would take a few years to go through. what has been going on with the markets, does that have a material impact? impact witha direct ,he financial contributions because we have the financing and the fund management. i think they added gdp growth and the market is going to be .uch quieter

that is definitely a headwind. even after the volatility and the correction, the market is up. cheapercing has become do you expect more monetary easing? morethink they need to do this year. be one moree could cut to come. remember, we are having a huge amount. they are using psl's. the details aside, it is clear they will have an easing bias.

regulators are coming down on the emerging finance practice. you have to learn. part isost important the rising market. in.hank you for coming >> time to take a look at the stories making headlines around the world. is to resume and -- about human trafficking on their website. reuters is not being prosecuted. the journalists refused to apologize. new york agreed to a financial

-- to a desk settlement financial settlement. he said he could not breathe when he was taken to the ground. new york has announced a $5.9 million payment. iran is set to return to the world stage. there are strict limits on the atomic program. rouhani praises the extensive efforts. rishaad: we will have more on iran. this is "trending business."

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handset equipment and makers say it is improving and there could be a security

threat. sean says that they are ramping up for the end of the decade. working to come next network. some of the area, based on what we study today, in the next few reach maximum capacity. >> some of the biggest carriers in the united states, has that

eased off because of concerns? are you making inroads? and theieve that china united states have engines for .nnovations if they work together, it is great. concern will be the threats toosting no the authority. >> are you making progress? >> we are still working on its. you will see there is quite a bit of success in the u.s.

market. >> how do you feel? >> it is more acceptable. and majorsponsorship sports in the u.s.. believe there, i will be more sponsorships. ask and youat you will see it. along, we show what is trending. >> we start with the nuclear missed deadlines were met with curiosity.

have drivers on the street and some reported dancing. a lot of celebration going on , say hello toays the world and thank you to the top diplomats of iran and the u.s.. netanyahu, the prime minister, not happy. he had lobbied against the deal twitter to sayn mistake.s a stunning irandeal is no longer

trending. >> it took years to get through. this deal was nine years in the making. and it became a bit of a meme. horizons were healthy and we heard from a couple of brands coming through. they are saying that they are still looking for a platonic relationship. look at we will have a this.

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visit philipslifeline.com/caregiver today or call this number for your free brochure and ask about free activation. rishaad: look at the top story. the shares in shanghai are down and the growth is at 7%. jumped more than 10.5%. expansion target for the whole year. investors await the bank of japan policy decision half an hour from now.

the drugmakers are leaving. the press conference is this afternoon. the pork deal will account for a majority of that. not reflect the quality of the broader business in the u.s.. how do we get better than expected market day to? fare have learned this so seeing the shanghai composite trading below the closing high.

positive is up about 4/10 of a percent. have the technologies and a former committee reviewed a unittial merger of the with the asia one. taiwanseeing this in with a lot of pressure right now . let's take a look at the equities. they opened a chain of stores profit.ffers

the shares are down about 4.6%. cinema, tv, profits and income 10%. about it has been raised to buy and they saw it dipping about 4%. >> they are coming out of china and raising hope that the government will hit the target by the end of the year. run us through the numbers. in and we expected

6.8%. indication. the i do not want to make this speculation. volatility andhe upked up with cpi kicking slightly and property prices stabilizing with for interest rates cuts. and 1.7% quarter on quarter growth was better than expected. the retail sales were better than expected. industrial production was better than expected and we expect that at 11.4%.

it is the same as last month. this? we care about of globalunts for 7% growth. i want to get into what the bank is likely to do next. what yvonne had to say about the stocks going down. the numbers came out that are than expected and that gave us more on implementing more stimulus. prefer easing in the markets. it seems to be working and many economists are saying there will

be a pickup of growth in the thatd half of the year and has started to work. thanks. minister began explain the deal he struck with creditors. defend a deal that he says he was forced to accept. >> the minister says that greece has the ability to exit the crisis and the german finance ministers put him in a tough position.

>> we were made to go and the circumstances were blackmail. was to strike the agreement or go bankrupt and leave the eurozone. >> a talked about raising the sales tax. he says, you do not have to be a trained economist. the attention shifts to the parliament. they have until the end of the day to vote yes or no on the plan. he says that he plans to stay in office and see the reforms implemented. the economy minister says assets.doubts state

the primeeed on and minister returned to greece, as we have been seeing. >> the program has less austerity than the previous one because it is expected to expected withthan the previous program. it has less austerity than the previous program. >> getting the measures through parliament will cost the coalition. when will we see a cabinet reshuffle? >> tomorrow night. any chance it comes today? >> the prime minister will decide. >> you would not he surprised?

>> it becomes controversial. how realistic is that. you have in trying to sell assets. how are you going to come with the assets to sell off? >> it works as a guarantee with a huge privatization. greece will receive 82 million, a lot of money. a form of guarantee is the only way. >> you say that we will not be able to come up with the euros. may be evaluated. i cannot think we will see real privatizations of the assets.

>> when do the banks open? >> it is a act into the picture and it will take place after germany and the vote on the agreement. >> ok. after they ease into the picture. >> when do capital controls lift? becausecouple of months it is a complex issue. depositors going to have to -- capitalizations and it is a direct a allowed .ystem hezbollahrty investment deals.

what is the status of these investments? investment --re ideas for investment are welcome. we had take care of this. deal with the russians, is it a good idea? >> i think it is a good idea. we're checking on stories for you today. the currency risk, it avoids any easing that could further weaken the currency. they struggle to keep the

inflation in check. up.rgan is they come in at more than $6 billion, having implemented cost-cutting measures. they are looking to move to cheaper office locations. prices in china are affected by slowing demand. 23%, despite the opening last october. micron is surging on news that the chinese questions have been raised in regulatory approval.

right now, a tech analyst at bloomberg intelligence. why do a deal now? >> look at the stock falling 50% this year. demand issues and -- nothing is going to change that, really. >> that is true. china wants to become in the plan. essentially, you want to look at moremports and they import than crude oil. having access, we can already

see that have been. >> is domestic demand as insatiable as you eluded to? >> it is more than 70% of consumer electronics in the world. interestingly, being the largest consumer of the projects -- products, it is dominated by and the players expertise is longer-term. price out there and sit jesting to fly -- that , there is a huge question as to whether they will do the deal. yeah.

valuation is one of the concerns. all of these concerns, it could be good for china. rishaad: thank you very much. the singapore billionaire aims to check the football club into shape. we are back in a couple of minutes.

>> welcome back. 27 people. they gathered for the start and the watert a did in

can wash away your sins. weeted thatinister t he is pained by the loss of life. the cricket tournament was dealt a severe blow with people suspended. they said it damaged the reputation and the spirit. than $7 billion. -- looking to wrestle back the title in time for the olympics. said thatthe governor it is more dynamic and attractive.

the last opportunity and much of the financial talent. rishaad: he has taken the sayinga cup and he is that he can kick the club act into shape. christopher joins us. with thist out question. byi am not sure why it is a valencia. they were happy to sell and they wanted to buy a new stadium. that one was in poor shape.

and they wereping knowred for a song and we that he is back and he thinks that he will probably give some help and recover. they were selling in a lot of their best players. he was originally from valencia. what team do you support? rishaad: -- didn't they lock in the most expensive sale of a player? what is his name? it was two years ago. that is the situation the teams are in. rishaad: i know what you are talking about.

>> sorry about that. i don't follow the sport closely. are there any who are buying clubs? i suppose it is popular. >> a good point. there, of the fans out they made a little bit of money teams that gohe to the stock market, the only make anye, do not money. it is not clear why the billionaires invest. almost half. the ipo is such in china.

jpmorgan thinks there is not a lot of value there. value. saw the rishaad: thanks for joining us from singapore with the billionaire appetite for football clubs. the next may not be popular in greece. that does not stop someone trying to lighten the mood in athens.

rishaad: getting to the start of trading in india. dropof the reason for the was the prices and the inflation outlook for the central bank

ahead of next month. let's get more. seen a rash of macroeconomic data that is pointed in one direction and inflation is coming in on friday and rated -- we saw the deflation for the food article inflation and it is the lowest. had projections based on three things. that is what is happening in the graham whatsoons, is happening with the innovation back loan. data shows rate cuts could be difficult for the governor. the leaders indicate the

andoons are below normal hurts all of the projections. >> thank you. .et's have a look at the market hong kong is shrugging off the growth and has better than expected numbers. downomposite is on the way at 2.5%. to close out this morning, they expect the bank of japan and nothing is really expected, in terms of rates. likely that we will see a change in the monetary stimulus program. -- kospi.e cost be

that was on the way up. recap theis up and we big stories of the day.

>> with all due respect to skeptics, i told you so. ♪ >> welcome to america's favorite game show, let's make a deal. rice -- some out outright opposition. what are the odds that congress stops the president deal with iran? josh: remember there was a big deal that gave congress the chance to review it, but unless they can override a presidential