google is learning its abcs. outputg its name to that, and the search business will be one of many divisions. a former colleague of circuit brim will tell us what this means. brimm.erge breaking up a scheme that stole the corporate press and out ahead of the release and traded on the nonpublic information. timebomb, graduates currently own nearly 1.3 trillion dollars, and candidate hillary clinton has a plan to make higher education more affordable. republican say won't make any difference. matt: good morning. i'm at miller. pimm: i am pimm fox. -- matt miller.

stocks are lower after the change in chinese foreign currency rates. u.s. stocks lower by about 1%. oser,ow the biggest fll judging that on his apple and chevron contributing to the decline. matt: taking a look at what is going on in commodities as china is the biggest consumer of many of these things. you see them down across the board with the bloomberg , broad basket of commodities down 2%. nymex down 4.18%. 43.0 eight per barrel. let me pull a brent crude. 43.08 per barrel. pimm: substantially below 15. we heard last week saying it could be oil at may the $30 per barrel by the end of the year. then resell copper down.

we think of copper as an indicator of the chinese economy. the interesting thing david wills from merrill lynch saying this could be a great thing for china's economy, and maybe it would then be able to consume more commodities and save the as quantitative easing good four hours for the europeans. that would be a good thing. pimm: showing you what is top of the headlines this morning. the biggest leveraged buyout this year. symantec selling the data storage unit to carlisle rue. the prize pack $8 billion. symantec bought the unit are more than $13 billion, but that was in 2005. this morning symantec reported quarterly sales will work, down 14%. matt: china is moving to and the deepest economic slowdown since 1990. the central bank their devalue twou.n. by the most in

decades. that should help exporter still more goods overseas. a one-time adjustment. the former chairman of morgan's family asia has his doubts. stephen roach's earlier. >> they can take the currency wherever they want. they claim it is a one-off. i doubt it. it is not a coincidence it was taken on the heels of sharply declining exports and continue downward rusher in chinese growth. -- last monthe chinese exports fell more than 8%. pimm: negotiators have agreed on another deal for a great a lot. giving the greek government $94 billion in loans. now the greek parliament must pass a passage of reforms that have been agreed to with creditors. greece needs some of the money in the next month or so because it has a payment to make to the european central bank due august 20. productivity in the united growing as fast

as economists estimated. the measure employee output rose at an annual rate of 1.3% in the second order. productivity actually fell in the previous two quarters. if you purchase this automobile, chances are you will not leave it part anywhere. the 1961 ferrari california spider to fit the gt short wheelbase may bring up to $18 million at auction this week. it will be one of among 4000 cars on the block during a annual classic car auction in pebble beach, northern california. last year and another for ron resold for a record 38 million. matt: look at the interior. pimm: one of only 37 that has the covered headlights. one of only 55 ever produced. a beautiful car, but i would not pay $18 million for

61 california. that is why is would not, because i think it is a little bit of a top market. coming up in the next hour, u.s. authorities say an insider computering relied on hackers to access corporate press announcements and profit from trades based on the information. we are expecting a press -- what an easy move. also, wendy's, and donald's, and many other companies have noticed biggest popularity. not just the flash in the pan. rice is anoing to austen goolsbee weighs in on inflation or lack thereof and the fed. those stories and more coming up on the bloomberg "market day." google.w focusing on larry page will be the chief

executive of alphabet, the parent company. and it will become the chief executive of google inc.. in charge of the search business. emily chang standing by with an exclusive interview with a former google executive who s a colleague. tell us. -- emily: joining me, vice president of global operations at xiaomi, thank you for joining us. you have worked closely with larry page. for many years, and i wonder, when you first heard the news, what was your reaction gekk? goodod morning, and evening from beijing. on the one hand, i did not think it was a surprise them because i think larry has been .elegraphing this it is not a surprise. on the other hand, i think the technology community is enthusiastic about this, very

enthusiastic because i think what he is building is the most amazing business platform. there is no one in the world today, or a handful of people that are ambitious as larry. very excited about this. ly: you told me a few months ago that they should be running the day-to-day operation so focus on the future of humanity. it also a bit grandiose. take me inside the mind of larry page and sergey brin. why are they doing it? >> i think they're doing it for reasons they stated that the very beginning first investor letter of the company. they are there to build a technology company that can change people's lives. i think they are best at that. they are better at that than at running day-to-day operations of any business, simply because

there are very few people like them in the world. who is a someone product rival of one of the best technology companies in the world, business savvy, humble and still very impatient and a good way, someone who likes to move fast, someone who knows google very deeply some they can focus and larry can focus on the noon shots, on finding things that will change the world, but that could also be phenomenal businesses. i think there will be a few of those. emily: is it because they want to work on moonshot and google is lame google and has gotten a little boring? >> i don't think so. one way to look at this, larry e the world's most sophisticated investor in the sense that he has invested profits into projects further into the future than anyone else can see, and

certainly anyone else could through the well investment firepower. i am pretty sure his commitment to investors will be number one. i thinkon and ambition, are equally important and completely unique. emily: he has not shied away making big investments and company -- and companies like nest. can we see more acquisitions like that in the future? what does this mean for potential acquisitions? >> probably early to say. i think this new organization structure alphabet give google an option, which they connect at any point in time to find more nest, tony's. not in many of those out there. but i think with the , theization the structure company structure they can think of more interesting ways to attract and obtain all. different compensation schemes

that probably were impossible in the traditional google. they can do anything in terms of defining how the companies operate. it also comes with a much higher degree of reporting, responsibility, accountability, that probably did not exist in the way that google is run today. i think that is great for vision and ambition, but also great for the investors frankly. nests what are the other out there and tony fidel? >> not many other tony's. a phenomenal guy. not many of them out there. there are a few people in the world that i think 30 elite brilliant. a good friend of mine runs the world most amazing technology music company. he is someone in that rank.

there are a few people like that. of course, it is an auction for google. i don't think they will go where it does not make sense, but having the auction in their hands i think is incredible. ly: do you think google could buy a company like spotify? >> i don't know. it is impossible for me to say. it is conceivable google could make large acquisitions if they decide to. not only in businesses directly related to what google does new areas,entirely not only moonshot-type investments, but there is nothing stopping google with auction they created from biting operations focused businesses if they want to. ly: investor in google said it undermines the micro point.

you have worked at google for a very long time and now working with android. what do you think this means? will android continue to be open? what does it mean for xiaomi? android and youtube are important parts of google. they cannot really be extracted if that is the underlying question. android is an incredibly strategic platform for google. it is the platform for which they are based much of the business today and much of the business in the future. these days it is hard to run a standalone platform business is exactly what google has been doing and will continue to do. spinning out android would be the equivalent of the data centers. the infrastructure is at the heart of the company. does not make sense. we could really extract that part of the business. i think you could say the same thing for you too. : a light a talk about

china devaluing the u.n. and the health of the chinese economy. given your vantage point, where you are in beijing, what is your point on this? economist and do not have an expert view on what is happening today. we will stay tuned. we are in a consumer business and in the market that is seeing ever rising demand. i think it is unlikely we would be affected in meaningful ways by the macro trends. we will see. i am not an expert, so i cannot comment into all the details, but i think we are good. barra, straight from beijing. thank you. i want to thank emily chang and hugo barbara, great guest on emily's part consider last night shocking news. changing the name of the

company. pimm: still ahead, hack attack. ciber the allegedly stealing corporate press announcement before their release. then trading on the information. details ahead. ♪

matt: the morning. i met miller. pimm: i am pimm fox. -- i am matt miller. right now the dow is down 200 points. down 208 points to be exact. down 1.8%. the s&p 500 down nearly 1%. the nasdaq down by one -- .1 percent. for the dow, the biggest loser for the day, lower for the first

time in the past eight sessions. yesterday we did see the green. if it did spark concern across the global market that the world's second-largest economy is headed for deeper slowdown. to individual stocks. this is the u.s. maker of cranes and construction machinery. it is of more than 20% on the news it has agreed to combine with finished competitor to make a new company worth $10 billion in sales. at $30l values one share 19 cents, nearly 40% premium monday.re terex closed also in tech news. revenue, profit and same-store sales all just blew past expectations. revenue jumped 75% to 48 .5 million. same-store sales opened two years or more jumped from an

estimated 8.6%. the full-year shake shack -- full-year sales forecast to $174 million. shares at the highest level since june 15. this is nearly a two month high. take a look at how the stock has performed since the ipo back in january. they went public in january 29, and since then jumped 118% on the very first day of trading. since then, shares have gained an additional 60%. interestingly, there are no by ratings, only sells and hold. fascinating. how many analysts rate the company gekko reporter: 9. m thamatt: that is strange. thank you for that. hackers have found a new scheme, insider trading. u.s. authorities says hackers

based in ukraine and russia still corporate announcement and traded on the information or it became public. matt: five men in georgia and pennsylvania were arrested, for more indicted on fraud charges but remain at large. mike riley is our cyber security reporter enjoins us from d.c. talking first about ukrainians but making arrests in georgia and pennsylvania. ?ow does that play out yet >> this is not just the hackers, and that is why assess a landmark case. is u.s. traders who have a lot of expertise of the markets. one of the hackers arrested is from wall street, worked in morgan's danley, started his own hedge fund and realized one way to make a lot of money quickly

is through insider information. one way to do that easily is through hacking. tell us what we expect to hear from mary jo white. they will be getting a news conference this morning. have them expect to herald this case is a breakthrough in terms of the way the sec is operating. i think the sec realizes in the age of computer hacking it really has to change the enforcement model and aggressively partner with fbi and others to take down these kinds of schemes. one thing we saw with the insider trading prosecutions of galyon and other hedge funds a few years ago was a really long investigation that looked into the personal relationships that these traders have. the thing hacking allows is you can get the information without being a wall street trader. you can cap -- hack a company that deals with press releases and trade on the information, which is a huge right to the

stability and fairness of the market. i think the sec will say we are on top of this issue. matt: as you know, anyone can go and findrk web contract hackers out of russia that probably would do this kind of thing for you for the right price. do we expect to see more of these cases? >> absolutely. talking to security experts today, they are suggesting much wee of this is going on then are suggesting. probably because it is so easy. you can combine market expertise with hacking expertise. you can go into e-mail boxes of cfos, law firms. we have seen that in other cases where security firms have found what looks like hacking targeted insider trading. i think you can expect a lot more of this in the future. this willou think

change the way pr news from will do business? >> this is certainly a challenge for them in terms of integrity of the systems and the trust their clients put in them. if i were a fortune 100 company right now, i would rethink whether i want to spend time getting my press releases, sometimes 24 hours early to a company like this. that has to have been thinking about what they will do to reassure clients. want to thank you very much. mike riley reporting on cyber hackers going after insider trading. , bacon.p bacon prices have been sizzling all summer. will the surge last? we will tell you. ♪ ♪

pimm: they can, bacon seems to be in just about everything the summer from french fries to ice

cream. until recently that meat is relatively inexpensive. surged 174% this season hitting a five-year high after hitting a five-year low in april. the price the summer is up to $1.70 per pound. they had to kill 8 million because of a virus. then the market was flooded. the demand has been increased. i was listening to a piece yesterday on the bbc about the piece of chicken, the biggest protein in the world, the most grown. here in the u.s. regulators do not consider it an animal, more of a product. pork may fall into almost the same category. i would be willing to pay more than one dollar 70 per pound if i could find mainly raised they can.

it is not that easy to find. pimm: the issue is the surge in price might not last because of the big move to add pay to the operation happens, and now those will come onto this market. matt: foods can fall out of favor as well. pimm: much more ahead on the bloomberg "market day." ♪ ♪

pimm: welcome back to the bloomberg "market day." i am pimm fox.

a federal authorities say they've busted in insider trading bring that used computer hackers use yield corporate press releases. arrested andeven hackers are thought to be in ukraine or perhaps russia. than $30me more million in stock such as boeing, panera brain -- canary bread and hewlett-packard. accused of dealing more than 150,000 press releases. bread, and hewlett-packard. former white house chief economist austen goolsbee has a message for the federal reserve, take your time. earlier on bloomberg tv he was asked whether he thought the federal reserve would start raising interest rates next month. i think the fed has been itching, wanting to raise rates and have wanted to for a long time so they will find a way to do it. i don't think it is warranted. i think the economy is not growing that fast.

china is slowing down, europe is a disaster comes to what is the big race to speed up? federal reserve policymakers have been signaling they would raise rates for the first time since 2006. there is no sign that global oil end.-- glut is near an output last month was the most in three years. iran played a big role pumping the most since 2012. the price of oil is now at its lowest level since march. the shares of shake shack have been of more than 7% today, now of more than 4%. shake shack has about 70 restaurants and says it will open 12 more in the united states this year, and there are also shake shack's in london, moscow and dubai. those are your top stories at the moment. at the moment architect is in

europe, so for the very latest, we go to mark martin in london. china's biggest currency devaluation casting a shock -- shadow of a european stock market. if you are a company that relies on sales in china, you probably were impacted by the surprise move. have a look at the big decliners in germany. bmw and daimler auto-related stocks. 15 billion euros of value with white top to value of european auto stocks because of the china move. look at the movers in the u.k. today. bhp billiton mining stocks 9 billion euros with white top to value. the valuation not all doom and gloom. look at that. rising for a fourth consecutive day. stocks --esday, great greek stock flow within three.

the lowest percent. the best-performing stock market into your day per -- four day period in the entire world. top profit led by the gains in asia. it raised the dividend. biggest decline ever. down by 20% today. swings in interest rate and credit spreads contributed to a loss in the first half. ownedset manager formally by ubs. it will cause one hundred 65 jobs after reporting a drop in first profit. that is the news. it is about china, greece. back to you. pimm: mark barton reporting from london. the reserve vice-chairman stanley best buy's chair stanley fischer said flow conflation -- inflation is a concern for the u.s. economy right now. the problem is not for the

part that is unusual individual and.te, namely import -- if we were just inflation target there's, we would be in the same situation we are now. we would have to do even more, if that were possible. austen goolsbee agrees that told erik schatzker good and stephanie ruhle not the only problem the economy faces. >> gdp has been growing ok, not that, not great. i can do it better than that. i think gdp has been modest. inflation well below the target. job performance relatively strong. i think stanley fischer is right. fed has been itching. they want to raise the rates. they have been wanting to raise

the rates for a long time. i don't think it is warranted. china is slowing down. europe is a disaster. the problem is that that does not have a gdp mandate. in a way, that is the problem, but the gdp and inflation are tied together, so they have a dual mandates of employment and inflation. the employment is strong, inflation is weak. you have a divided band-aid. stephanie if you working at the effect, what would be the deciding factor for you to decide when to raise rates? >> the fed is not a kingdom or dom, there is a whole committee. i think what you should look at before we raise rates, have we

reached sustainable liftoff in which you feel the economic growth is not just a blip doing pretty good. not just by one measured doing well. the jobs are good. there -- you want to be consistently sustained growth of something like 3% before you start raising rates in my opinion. one quick question, the macro prudential focus of the fed, should they be worried about popping bubbles at this point? >> probably. it is really hard to do that. even if you thought it was a bubble, what would you do. you certainly don't want to drive the economy down just because you want to pop a bubble. pimm: that was austen goolsbee, president obama's chief chiefist -- former

economist. still ahead, hillary clinton lays out her plan to make college more affordable. will it make the grade with vote rs? details coming up. ♪ ♪

pimm: welcome back to the bloomberg "market day." we are looking at a live shot of the u.s. attorney's office in new jersey where we are awaiting the presence of security and exchange commission chair mary jo white and u.s. attorney or new jersey, as well as the acting attorney for new york. they will be coming on to talk about the most recent cybercrime. this is hacking into the prnewswire computer servers in order to gain inside information that was then traded on. the f dei, as well as that of have -- fbi and sec

involved in this for the month -- for months and they announced officials they were able to arrest in georgia and pennsylvania. we are waiting on details of the case. at one point there was alleged to have been profits of $100 million for trading in stocks such as boeing and nearer brett. the government contends the hackers may be operating with bases outside the united states and operating in concert in the united states who have a variety of x for team in the capital markets. former employee of morgan's --ley, former hedge fund hedge fund manager using the inside information in order to gain edge on the market. an example given up 150,000 e-mails or 100,000 records stolen as part of the insider trading bring.

the government will be giving us more details. of cyberhe area security that is a new focus for the securities and exchange commission, and they will highlight not only the use of cyber security technology, but the house order initiative -- cross-border initiative because most of the people being investigated by officials were overseas. we will be bringing you that as soon as the news conference is starting. it is scheduled to begin. them as theyify began speaking. mary jo white will be there, the chair of the securities and exchange commission, along with the new jersey attorney. the acting attorney in brooklyn. kelly curry, the attorney, u.s. .ttorney in new jersey

also, speaking the department of homeland security secretary johnson. >> good morning. i am paul fishman, united dates district attorney for new jersey area and i am delighted to be joined by jeh johnson, secretary of homeland security am a mary -- chair oneirman of the securities and exchange clancy, director of the united dates great service and special agent in charge. the acting united states attorney for the eastern district of new york, diego rodriguez, assistant director in charge of the fbi, and rich frankel, that's officer in charge. the assistance of my office and mr. currys and the lawyers from the f c who of been the investigations we're here to talk about this morning. this morning we are here to announce the middle and civil charges in a broad ranging, cutting edge, international scheme of the intersection of hacking and securities fraud. every day companies all across the country, in fact, all across

the world provide information to the public. some of those disclosures are voluntary, and some are just good for business, but many contain information that those companies, particularly if they are public retreated, are required to disclose, often in a particular time and way. that information can be news of an impending merger, the vestige or come stock split, major personal changes or litigation just to name a few. in fact, just yesterday hundreds of public traded companies made announcements of their second-quarter earnings. in order to comply with regulatory requirements and make sure the information is disseminated fairly across the markets, many of the companies rely on third party companies who specialize in those kinds of press releases. and when they do, when they provide information to those organizations that distribute it, what they expect, what they

caps on, and what they pay for is that no one will get the information before it is released. today we are announcing results of interlocking investigations of a successful scheme to carefully those planned announcement. for more than five years hackers largely operating in ukraine repeatedly penetrated the networks and servers of market wired, prnewswire and business wire, three of the leading companies that provide third -- this news release services. over that five-year time, using hacking techniques and tactics, including fruit or's, injection attacks, and fishing, those hackers stole well over 100,000 confidential news releases before they were distributed. and were relentless patient. they maintained access for sometimes long stretches of time , more than years. when they lost access, starting over and regaining access.

as alleged in the indictment, one hacker actually's and an online chat message stating i am hacking prnewswire.com. they then posted the releases on private overseas servers and made them available to those that were experts on trading on the information ahead of the public announcement, and they were full service. the indictments charge the also provided business partners, the traders, with a video explaining how to access the system. they put up servers overseas tradersned how the could gain access to the servers to get the stolen releases. after getting the necessary access, often only hours before the release made public, the trader took some very sizable positions in the securities of the company. sometimes, as we learn from e-mail and other documents recovered, the traders gave shopping list of companies whose

releases the expected soon and whose information they wanted. in return, they sent a percentage of the profits to foreign bank accounts for the benefits of the hackers. sometimes they even checked the trading accounts, check the trading account tabs on the traders. in two indictments, one returned here in the district of new jersey. traded ahead of more than 800 releases and made more than $30 million. in addition, the fcc has filed a civil complaint charging those individuals and a host of others with civil -- similar trading conduct. in a minute, i will ask mary jo white to describe her agencies days and kelly currys to describe his office's case. we have returned a 23 count indictment regarding hackers. three of the trading conspirators, marketing, igor

with conspiracy and securities fraud, wire fraud and money laundering. they were arrested this morning at home in georgia. -the others are- believed to be of the ukraine and red notices have been issued whether arrest. we collectively have seized 17 bank accounts and brokerages that we believe contains $6.5 million and have collectively sees seen properties including a houseboat, shopping center and apartment complex. before we go further into the details, i want to ask jeh johnson to say a few words. the secretary is here along with director clancy because of the really extraordinary investigative work the secret service did in this case. let me say firsthand that it is not unusual, at least in this district, where we have had a run of stunning success with the secret service.

mr. secretary. >> thank you, paul. it is a tribute to the importance of this prosecution that we have so many new yorkers here in new jersey to be part of this. i want to congratulate the u.s. attorney in new jersey, the u.s. attorney for the eastern district of new york, at ec, secret service, fbi for working so hard on this case. i am here because i want to highlight the good work of the united states secret service, part of the department of homeland security. the secret service was formed in 1865. originally it was solely a law enforcement mission. i came to know the secret service when i was a young prosecutor. the assistant united states attorney working a counterfeit case in 1989. the secret service take the protective commission in 1901.

this is a mission most people know it by. the secret service has historically been involved in the investigation of financial crimes. over the past several years has cyberup a remarkable security, cybercrime capability. for example, earlier this year we brought to justice the defendant in the pending case , a secretmir brinkman service case, an alleged international cyber criminal. this case highlights not only the good work of the secret service in cybercrime, and the toestigation, a testament how we can and should cooperate at the federal level in the investigation and prosecution of very sophisticated criminal activity.

this is a testament to how the , fbi, secret service and department of justice can and should operate together in these types of cases. i want to congratulate the people appear with me and in the back of the room who work very hard to bring about today. thank you very much. thank you, mr. secretary. i would like next to call on mary jo white, the chair of the sec. i want to thank her personally because they had been terrific with not just my office, where we work very closely but having a real impact for investors, not just new jersey but all around the country. white thank you very much. it is an honor to be here today and to be here today and want to congratulate all of the law representedagencies

for their extraordinary efforts on this groundbreaking case to safeguard the integrity of our market. i will focus my comments on the security law violations alleged in the fcc -- sec complaint that shows how cutting-edge and important this case is and illustrates the risk posed for global markets for today's sophisticated hackers. while the sec has uncovered and six -- successfully litigated schemes in the past, today's international cases unprecedented in terms of the scope of the hacking at issue, involved, of traders the number of securities unlawfully traded, and the amount of the profits generated. years,e worst of five the 32 defendants named in the complaint are charged with carrying out a brazen scheme to steal nonpublic earnings information or hundreds of publicly traded companies, and then placing thousands of trades

through a network of u.s. and located in thes russian federation, ukraine, ,yprus, france, new york pennsylvania and georgia. geography is electronically connected by this illicit network. according to the sec complaint, these traders located across the globe executed thousands of illegal trades on the basis of the material, nonpublic information, concealing this game by spreading transactions across multiple accounts held in the names of many individuals and entities. the traders were market savvy using equities, options and contracts for differences to maximize their profits. two ukrainian hackers are charged with putting -- spearheading the scheme. along with the other 30 defendants, they have collectively alleged to have

made for the $100 million in illegal profits by trading based on pre-release corporate earnings announcement stolen .rom multiple newswire services we charge these defendants in and a complaint unsealed today multiple securities fraud penalties, andng we obtained an asset freeze over -- against overseas traders who secured at least $20 million of the defendant ill-gotten gain. ec investigation is continuing. complaint they used malicious programming code and other deceptive techniques to hack into the computer systems of the newswire services that earningsrporate announcement unpublished. these announcements were slated for public release out of prescheduled date and time. the hackers took advantage of the time cap. according to the complaint, the primary hackers brazenly recruited traders with a video showcasing the ability to deal

in transmit earnings information before the public release. this case highlights a number of important points. if demonstrates the enhanced trading surveillance and analytic capabilities to sec has developed over the past few years. it also highlights the use of market experts with specialized skills and experience. we now have new technological tools and investigative to nothes that allow us only pinpoint suspicious trading across multiple securities, but to identify relationships among traders. the fcc enforcement division sorted through literally millions of trades, thousands of earnings announcements and gigabytes of data on ip addresses in order to identify these defendants who went to detection, to update often identifying traders based on pattern of trading. with the enhanced capabilities

we are now more than capable -- more capable than ever of rooting out even the most sophisticated of trading teams in maintaining the integrity of the high-tech market requires that kind of regulatory expertise and vigilance to match the sophisticated trading and market manipulation we see in the markets. today's case serves as a stark reminder to companies that your computer systems are vulnerable targets. you should all be vigilant. you should all be vigilant in protecting our systems, taking measures to detect and guard against hacking and working together with law enforcement to uncover the theft and missed use of stolen information. you have been listening to mary jo white, chair of securities and exchange commission, along with jeh johnson and paul fishman. he is the u.s. attorney for new jersey speaking about a 32 count indictment against 32 individuals for insider trading

using cyber theft tactics in order to gain access to over 100,000 corporate e-mails and pre-releases that were not available to the public. in the sec complaints, they allege profits of more than $100 million. a five-yeare it as investigation that is still ongoing. they announced also they are looking into accounts that may exist in countries such as maltose, cyprus, ukraine, russia and even the united states for the ill-gotten gains. bloomberg "market day." we will have more coming up on the ♪ ♪

pimm: good day. it is 9:00 a.m. in san francisco and do in new york. bloombergcome to "market day."

the country devalues its currency. we look at the winners and losers of a weaker chinese yen. stuns thele tech world with a new name. and look at the future of the company now known as alphabet. scarlet: is there really a war on women? betty: we will hear from claire miscast goal -- claire mccaskill on donald trump's latest comment on women and whether she will support the iranian nuclear deal. ♪ welcome to "bloomberg markets a." i am pimm fox. betty: i'm betty liu. what a day so far. pimm: we have china news and indictments thatar