pmi. 53.1 which is a little bit higher than the flash pmi data that put out there. the final services 52.8. that's the main services as opposed to to flash figure. pretty much in line with what was expected. the may final reading there. we're looking at the lowest level since january of 2015. so euro zone business growth in

general the take away is it's pretty steady, but that was ahead of the brexit vote. >> it will be quite interesting, but italy growth in the services sector looks good. germany looks good. france is going to be the interesting one with the strikes we've seen. at the same time you have the euro 2016. there's going to be a stagnation for the french services sector. we probably could have told you that before seeing the data. >> i think the interesting part is what happens in the next round. >> yes i'm going to give you some update. let me give you a look at how the markets are this morning. we did see a weaker session in asia over the night. the u.s. was out for independence holiday. that sucks a lot of liquidity out of the markets. the stocks are down.

look at the sectors just to give you a sense of what is driving this here. we have commodities weaker. we have crude trading went below 47.80. the dollar slightly higher. you have the likes of the insurers, the financial services, the basic resources. the basic resources was higher yesterday. one of the particular sectors that we're watching here is the financials, funds in particular. standard life investments has suspended trading. the move comes with an increase in redemption request following the brexit vote. the fund which focuses on commercial property said quote the suspension will end as soon as practicable and will be formerly reviewed at least every 28 days. the fund managers need more time to sell assets.

standard life is part of the insurer standard life. the shares we have for the fund managers. the likes of jupiter, sloweders all off by a more than 4%. in the case of aberdeen you can see 6.5%. i'll give you a look at the uk home builders as well. of course these guy saw 8 billion pounds wiped off those shares in light of the brexit vote. we have seen a bounce to some extent. we did hear from pearson saying he does see opportunity despite the housing sector, what impact the brexit vote is going to have. we know there's a housing shortage in the uk, but he sad

there are opportunities out there. we're going to be talking about that more broadly coming up. i'll give you a look to give you a sense of where things are trading here. i think obviously a benchmark here, sterling just below 131.60. they're off by about 1%. the dollar is the story here. stronger here. we're going to hear from carney at 10:30 locally talking about financial stability. what's he going to say about the uk economy in light of the brekts vote and it will be interesting to see tolls that he can use vers. does he veer way from queue equity. >> speaking of all things uk. it is round one in the leadership contest. here is how it works. you have 330 mps that will be

casting their ballots. so basically the person with the fewest votes will be knocked out of the race and this process then theresa may is expected to get the most votes today, but energy minister has just won the backing of boris johnson. she offers the drive essential for the next leader of this country. the endorsement is a blow for michael gove who has been accused of scabbing johnson in the last minute decision to enter the race. >> the uk chancellor will be meeting with the country's major financials today. he said the sector is not facing a banking crisis despite quote significant adjustments in

markets. brexit is a promotional crispot not a financial one. >> i can remember putting the television on and being very surprised by the results, but the point was we were prepared for volatility. we had spent a good deal of time putting together teams globally that could deal with any result emerging from the brexit vote. we were able to see that was working. yes, that friday was a volatile day. i just said to emily, things have picked up a great deal since then and what we have though now look for is the stability which our financial position gives us. >> now, how is the bank preparing for what testimony analysts are talking about, the economic slow down. how is the bank repairing to

mitigate further losses. >> we have to keep on with our strategy, the strategy we announced and referred to earlier this year. that is the way we're beginning to build this bank in the future. we will standby it. >> well, head of the europe strategy. you talk about when looking at the euro, when looking at europe, you say rising risks, but it's a tough sell to nobody wants to get out of the euro even if we think we could be heading toward more difficulty. >> you usually find with currency you have two-way have euro, but on the other side of that you have testimony trade balance. you have the current account surplus and you also have banks unlining and deleveraging globally.

bringing capital back into europe. those flows tend to offset each other. in europe's case, it's frustr e frustrating cooping it stable. >> do you think anything is going to charge with regards to that trade. we don't think they're going to be hiking any point in the near future, but still dimpbl play. >> it's a matter of what request the markets focus on right now. the uk is the center of the storm. we're looking at the sterling. you're seeing the drop in sterling. that's taking the focus. perhaps it takes the ecb the end of the month. maybe it's the stress test that focused the investors. maybe that begins to shift the dynamic. right now uk is center storm. that's why it's taking the brunt of the exchange rate affects. europe can't be far behind it. >> we have carney speaking this

morning. he's going to talk about the impact of brexit and measures to support the economy. is there anything he can say here that makes people go okay. we have the trade and we level off here now. >> i don't think so. i think we have a lot further to go in sterling. the reason for that is it's a matter of, you know, the speed of investors. we've seen a lot of after the brexit vote some very hot capital come in and take short positions and sell sterling, but it's the longer term holders of uk assets, the ones that have really been buying them since 2012. they're the next leg. you're real money funds, your sovereign well funds, your central banks. all of that long dated investment. you're still stuck with the twin deficits in the uk. if you can't attract enough investment for them, sterling has to fall. >> what about uk strong. if you have such positions it

kind of makes it vulnerable doesn't it. or is the only shock we get here about brexit in which case sterling weakness or the trade of short selling actually benefits. >> when we looked at the sling, it has been the fast money capital. so ours is, you know, whether or not the long dated investors really do see risk long-term to the uk. our personal view is they do. we're beginning to see and it's one of the things we wrote about in the flow report. you had month end, quarter end, you had uncertainty and you needed to have discussions. all of that takes time, but we're beginning to see essentially that sentiment view come through now. >> what's your call or euro sterling. >> probably going to trade up to 90 over the next month to quarter. from there yop rely probably going to have stabilizing affects. because we are expecting greater

risks. cable you probably voicemail further downside. probably 5% over the next month. >> you're staying with us. get your questions in for richard. @louisa bojesen. if you want to contact me directly. you can find us on street signs europe.com as well. moving on though, some flashes coming through on v w, i understand. and we are just learning they are confirming the search related to the german car tell steal probe that is indeed taking place. so we're just getting that through on our wires at the moment. and bosh is well. >> they confirmed research of

t car tell tram. three former barclays employees have been found guilty. two british citizens and one american were convicted of events that took place in 2005 and 2007. the men are due to be sentenced on thursday. the jury failed to reemp a verdict on two other defendants. has two weeks to decide whether to pursue a retrial. barclays declined to comment on the ruling. meanwhile ubs has been ordered to hand over tax information for a number of current and former french clients. order made by the french administration at the question of french authorities. taking legal steps to assess the valuety of the order as it seeks to clarify on the issue. goldman sacks upgraded uncredit to buy.

meanwhile shares in bmps continue to fall. however after the ecb yesterday told is to slash its loans. the question is how. claudia is here with all the details. >> reporter: yes, good morning. as you can see we're getting banks moving in two directions. one bank in specific, continues to suffer on the heels of the letter that did come for the need for italy's third largest bank so shed another 10 billion in bad loans, and, of course, the possibility of a capital hike at this point being absolutely needed. the stock is trading at a all time low. worth about 1 billion after this point. this comes after the last three or four years the bank has gone through a ballout.

also gone through four different capital hikes worth about 9 billion euros. continuing to be down today after losing 13% points yesterday while the other banks having started in negative territory are now up this morning. yesterday was a tough session for all of them, but also union any credit has helped the other banks benefit from that upgrade. they would need a capital hike, but they are positive and have underlined speculation on a difficult situation here in the italian banks and overall in europe. >> thank you very much. good to see you. >> ending a two-year experience. now trading data and expansion costs were reasons for pulling the plug on the venture which were set up to compete with the

discount. seance bury . >> interesting isn't it in the light of the success. now, $2 billion breakup. that's the amount asked to pay the motiva joint venture. according to rioters it would be compensation. the split was announced back in march was expected to be fin finalized back in october, but now could take longer. francis is in talks to buy wireless assets in italy. create a fourth operator in italy and pave the way to merge the three iealia and wind units. it's the third attempt to expand

business outside of france. it is expected to have a gain in visa europe. the french bank is saying the transaction would have a negative impact. >> we've got some comments from the ecb. comments made in an interview from a german magazine, but that are just breaking. she said there's no reason to consider further rate cuts in europe. it's already extraordinary expansion nare. they must be patient and wait for full implementation of policy measures. basically saying we've done enough for now. we're going to take a quick break, but coming up at the

show, celebrations s at nasa. back after this.

hi everybody. welcome back. you're still watching street signs . liberal coalition and labor party remains close to call. officials have turned their attention to counting the 1.5 million votes which are expected to be crucial though the final societies. took full responsibility for the outcome of the election. >> i wanted to make it quite clear that as prime minster and leader of the liberal party, i take full responsibility for our campaign. absolutely full responsibility for the campaign. the australian people have voted and we respect the result.

>> treason spring pore. it's all right. you look like you're about to cry there. >> i'm a very emotional fish. i'm tough, but i've got a soft interior and the politics in australia is enough to make you cry. we'll talk about that later, but take a look at this action. we snapped days of gains with the notable exception of mainland equities bolstered. we're over that 3,000 psychological handle now. the macro, the data came in better than expected. this is from the private surveyor came in at an 11-month high. that transition does have momentum as we move away. let's get over to australia. we're still having though deal

with this political limbo. let's not forget we saw an inconclusive result over the weekend. no outright winner. we are still counting the ballots until we get an idea which way the wind has blown. the risk is the minority government and issues about political paralysis and issues about the budget and issues about the credit rating, the triple a rating being vulnerable as well. rba did not move as widely expected. kept the main cash rates on hold. 1.75%. a lot of chatter in the market that they will have to ease at some point given the fact the global uncertainties are looking that much more series post-brexit and lower growth environment we all have though deal with now. that's where we stand. back to you. >> thanks so much. we are just admiring your

outfit. you look great. >> i scrub up pretty well. >> you do. let's move on. richard still with us. talk to me about fsn. the number of articles i read over the week saying we see flows into markets. feds push back. resentment bolder. is that the case? what are we seeing. >> i think that's an aneck dotal story. we looked at the flows and came out in our flow report yesterday, but ultimately we saw flows from emerging markets last week. it was all three regions. that's not a type of behavior that we see where people are very risk seeking.

people are reaching for yield. they want to grab return wherever they can find it, but the broad risk sentiment review is more cautious. >> people are putting it to use elsewhere. is it the commodity currencies, stuff like that. >> i think in the short term it was. the next leg for foreign exchange is going to be when stocks come off globally and that will be the big defensive trade. we talked a lot about sterling today, but the currency shooting under the radar is the yen and how much that's depreciated today. we're seeing broad defensive movements in currency. we just don't think it's stable, given where markets are. >> what do you think of the yen here? i looked at some of the details

yesterday. you have small and large companies now lower expectations. back in march it was 1.3% inflation now it's 3%. what can they do? >> what are they going to do, better question? >> i think it's one of those things the markets has been in paralysis. you have the up thor house elections on the tent. you haven't had real confirmation about what's coming down the pipeline for fiscal stimulus. it's been promised, but it's been promised before. you have the bank of japan at the end of the month. i think the market is underestimating the creativity. you're in a very defensive market. so the yen has surplus. japan has a current account surpl surplus, has a trade surplus. very similar to the environment in 2008 and beyond. even though you had policy movement and even intervention

and dollar yell would spike higher, ultimately it would bleed. >> bank of england today recovering. do you think we will see more stimulus from carney and is that going to change the reaction we're anticipating in the pound. >> i think he's been very clear over rate cuts. absolutely we're going to see more stimulus from the bank of enla england: it's an uncertain shock. the right reaction by the bank of england is to expand policy to dampen the effects. >> i want to make it clear. we're so used to being stuck in the ranges in effects that we can't get our mind around the prospects of the more significant move. is that important? is that going to change, the mind set? >> i think we have further to go. i think it takes time to get there because we have very

stimlative central banks for a number of years. it's been a long time since we've seen volatility. confident falls and you're going to see more movements and ranges broken. >> great to chat with you. we need to take a short break. next czeheck out markets live. we'll be right back talking about the home builders and getting an update on the u.s. political front. front.

welcome back to street signs. your head lines this morning, uk home builders demolish the stock 600 after standard life investment amid brexit fears. in westminister boris

johnson throwing his weight. >> trade low as the battle over the banks recapitalization continues while the rest of the sector bounces back from monday's losses. and nasa celebrating after a successful five-year journey putting a spacecraft in orbit around jupiter. >> have we've had plenty of european services pmi data out this morning. we have pmi for june coming in at 52.3. the poll expectations was 52.7 so even a touch expectations. just to give you a sense, 80% of

the data was collected before june 24. before the results of the brexit referendum. same as what we saw yesterday with that construction pmi number at a seven-year low for the uk. we've got the all sector pmi for june coming in at 51.8. 52.9 in may so that's the lowest since march of 2013. if we look at the business expectations. 66.4 in june. that was 70 back in may and that's the lowest it's been since december of 2012. so as expected a real dent to the subsidies pmi, to expectations for what businesses are predicts going forward and that was before the uk population voted for brexit. >> yes. sterling drifting a little bit lower there. the bank of england governor mark carney is preparing his third speech since the brexit vote. today he delivers the financial stability report. he is expected to spell out the

financial risks posed by the referendum result. you can join us for coverage at 11:30. full coverage here on what mr. karr carney has to say. the move comes after an increase in redemption requests following the brexit vote. this is called a gatehousing. they gated the found. reviewed at least every 28 days. the spokesman added the managers need more time to sell assets. standard life investment is part of the insurer standard life. let me give you a look at the shares this morning. lower for standard life. they're all under pressure. aberdeen management has been an underperforming since that brexit vote. currently down 8% shy in trading

today, but a tough session for jupiter and sloweders as well. >> give you a quick look at the uk home builders. give you a sense. a dent in confidence. as i mentioned earlier 8 billion pound wiped off since the brexit vote. they have come back slightly, but this morning all concerns about that this is going to mean for the building sector. for competence in house prices and purchases going forward. n now, anthony joins us now. let's talk about standard life initially. they said they're going to gate the fund. i know they have written down the value as well as some of their assets by 5%. we've seen other property managers do it around 10%. discuss that make you more comfortable here. >> that's a commercial property fund which commercial property is more liquid than residential property. i've seen many more buyers and sellers of residential property. and very few residential

property funds so your main exposure is going to be by the house shares themselves. >> you quite rightly said you have a liquidity mismatch here. if you're allowing invest to rs to get 24 hour liquidity, but at the same time selling a property takes time. >> liquidity is there until you need it. that's going be an issue facing lots of fund especially where there are liquid assets underlying it. >> we keep hearing about the shortage in housing as well. how big is the shortage at the moment. >> the government suggests we need between 200 and 250,000 new homes each year. that's the fundamental demand. the effective demand is more important, how many people want to buy and sell a home today. typically when there's unzernt,

we see demand for it. >> do you think the building is going to continue given the brexit uncertainty? we have to wait and see what happens, but what do home builders do in times of uncertainty? how do they react? >> the difference from last year is help to buy is an important stimulus passage for the home builders and normally we see build rates slow down into an election, but last year we did not see that. if there's a shortage of secondary stock, you typically see more demand for new building. >> interesting. he said there's still opportunities out there and pointed to first time buyers and said that's still a supportive element in the market here, but if you're looking at, i guess, costs, if we look at the bottom line here, in terms of the weakness in sterling. construction materials, you know, irrespective of whether

you have underlying support for items like first time buyers, just the cost is going to compress the margins in the bottom line. >> if you look at a typical house. the land itself is about a quarter of the price. the billuild costs are around 5 and the labor costs. the brick is 4,000 pounds on a 200,000 pound house. >> youch. didn't realize it was that much. in terms of areas of safety, are all the memo builders in the same selling mode now or is there going to be repositions and if so, to what. >> look at the value they've lost. >> it's been pretty kind of uniform across the sector. it's down 30, 33% across the piece. i think it's difficult while there is so much uncertainty and longer term investors are

looking at 2008, 1992, if we do have a repeat of that sort of recession, there is further to fall. if we don't, there's a lot of value. >> super fast. anything carney can say today to give you confidence? a rate cut is expected. we could see more qe and perhaps an extension to buy the 40% outside. >> wow and you're pricing that into your models. >> yes. >> interesting. >> anthony, thank you very much. it is round one in the conservative leadership contest. here is how it works. you've have 330 casting ballots. the person with the fewest votes will be knocked out of the race. this process will be repeated on thursday. again on tuesday until in the end you have two candidates left. the party members get to choose between them and we should have

a result at some point in september. >> yes, and her name is becoming familiar now. theresa may is expected to get the most votes today, but energy minister, andrea has just won the backing of boris johnson. offers the zap, the drive and the determination essential for the leader of this country. the endorsement is a blow for michael gove who has been accused of stabbing boris johnson in the back. paulo orlanresident obama h campaign trail with hillary clinton today. they're search for a running mate hit as another gear. let's talk about this. joining us from washington, so the campaign trail is going to have two, not one. >>. >> reporter: it's getting close to the convention now. they need to make the decision.

both the republican and democratic side will be there today. hillary will arrive on air force one with president obama. that image designed to make her look more presidential. this is the first appearance together in one time at the same stage. the white house said the ticket on air force one will be paid by her campaign, not the taxpayers. on the other side, donald trump met with indiana governor over the weekend. their families spent most of the 4th of july weekend getting to know one another. trump also announced he met with iowa senator. she's an iraqky war veteran and could be a vice presidential pick. in rathis will all be fleshed o in the next two weeks by the

republican vconvention. three weeks for the democratic convention. >> i have a question for you. you say today a poll that puts clinton's lead over trump narrows to 5 points. i know it's only one poll here, but two months ago the lead was 39% to 50%. i wonder what we can take away from this and give us a sense of what is going on in terms of shifting support here. >> we have seen a lot of polls that go up and back and forth up and down. so it really depend on what poll you're looking at and when it happens. over the last three weeks or so, donald trump has had a very tough campaign so the gap widened, but as it gets closer to who is going to pick the vice presidential nominee and who they could be, the news is turning a little bit. plus hillary clinton has problems with the fbi probe. on saturday she went and had a three-hour interview about the

e-mail server. the folks look at that and wonder if there's trustworthiness issue there. democrats believe this will be settled by the democratic convention. still that imagery could play into the poll numbers you're seeing at the usa today poll. >> i think that was a polite way of saying i might be out of date. did very well there. more details coming through on a germjegerman cartel. we'll continue to keep your updated if we get further companies from those companies and beyond. now, monsanto and microsoft are teaming up to invest in technology in brazil. a fund for startups also includes communications giant.

>> samsung will see a 13% jump in operating profits thanks lashlgly to a sharp rise in sales of the gal zi. >> shares have slipped. the nikkei joins us from tokyo. hi. >> reporter: hi, yes, fast retailing is the operator of causal clothing store and finished over 4% low today. domestic sales yesterday saying the store's sales from the month of june was up. however many investors with disappointed since sales for june last year had fallen nearly 12% following a price hike. what really worried ambassadors was the number of customers

falling. so the further decline shows that customers have not come back since, but sales for a customer grew by 8.5% which helped boost sales. after i mid this has switched back to the low price strategy trying to bring back customers during the weekdays. uniglow. the world's second largest government base after china and unikhloe has their sites there. has local staff there and all were confirmed to with safe. that's all. back to you. >> thanks. saudi arabia has been hit by three coordinated attacks. death toll has risen to 200. nbc bill neely has more.

>> reporter: it's not clear saudi arabia has been hit by at least three suicide attacks in three cities today. in the latest the television north work is reporting a suicide bomber detonated his device. and killing at least two policeman. if that's true, that's very significant because that is the second holliest sight in islam where the prophet muhammad is buried. a place visited by millions every year. that blast followed others on the start of a festival, the end of the holy month ramadan. that two exploexs shook that city in eastern saudi arabia, it's thought only the suicide bomber was killed and that city is significant because it's got the highest concentration of

muslims. american consulate in jetta. a suicide bomber getting within 30 feet of the walls of the consulate and blowing himself up after being challenged by two security men. three bombs were found in his car. no one in the consulate was hurt, but the holy month of ramadan ending tonight and one of the holliest places in bloodshed. >> let's give you a look at the european market this is morning m . tilts further to the downside. stay with us, we're back in two. we'll keep you posted with exactly what is shifting these markets lower. stay with us.

hi, everybody. welcome back. you're still watching street scien signs . we're getting the moment the space orbit, look at them celebrating. this after completing a journey lasting five years and spanning 1.8 billion miles. this will relay data back to earth allowing scientists to unlock secrets by studying atmosphere and composition. if you had the option to go to space, would you go to pace? >> i would love to. the price is so expensive. >> it's going to come down. let's move on to top gear. chris evans has called it quits after just one season. the bbc said it was in talks for

a second season. after the french star was widely praised for his role on the show. valuable program is worth around 50 million pounds in worldwide sales. not enough to get you to space. >> not yet. >> the world's number two tennis player, andy murray, is threw after winning straight sets against the australian. never got going with the 21-year-old admitting that he played video games instead of preparing for the match. murray is the highest seat and now favorite for the tournament after djokovic's surprise defeat over the weekend. >> actually he was watching late. doubles match and talking to his son and on his phone. come on. let's move on.

kevin curradurant has stunned t basketball world. signing with the golden state warriors. most valuable player explained the decision to leave the thunder in a letter on monday morning thachlt will give the warriors four players, including the remaining mvp, stefen curry. competitive hot dog eating. wolfing down a record of 70 hot dogs in only ten minutes. for the life of me, i do not understand this. why would you do this? >> how is he so thin. i don't understand. let's take a look at the european markets. i point to the weakness it was seeing in the sector down 2.5%. this probe we've seen. we talked about the likes of bm

w wimpacted. overall that sector for the stock off by 1.8%. the ftse outperforming. it does filter into the broader risk environment we're seeing. commodities lower. coll dall dollars stronger. it will be interesting to see what the u.s. can show. >> just to show you the u.s. open. a little bit lower on the right hand of the screen there. for sure a bit of a catchup taking place. commodities. we have a little bit of selling taking place across the board today after what has been a pretty good run. i think most people would agree. good morning, michael. >> good morning. >> this run we have seen.

gold has had a wheal ail of a t silver even more so. >> on precious metals, gold and silver in particular, we called the bottom back in february. there are reasons why gold in particular should do better and one of those reasons is very low potential for degross in a lot of nations basically. >> is gold -- sorry. is silver going to outperform given that it hasn't reached its last previous top and compared to gold, there's quite some differential still. >> it did in the past few days. it is somewhat unusual for silver to outperform persistently in an environment of weak industrial growth. you have a muslch bigger compont of industrial usage. having said that, it is a smaller market and fends tends

mobile. to that point to date, it outperforms, but to the outside -- downside. i think silver looks okay. i wouldn't make the biggest call on it. i think more on the gold. >> in your latest note you talk about the reversal of globalization as a severe risk in light of the brexit vote. just define what you mean when you talk about a reversal of globalization. what should investors look for. >> the real issue is just regrowth. there's a lot of unhappiness in large part of the developed world, but people fear they haven't necessarily seen benefits, the benefits from the growth that was that basically was and on the back of that, you have votes like you've seen in quite a few place now.

populism basically increases as well. that makes it very difficult to some extent to put the structure measures in place, to boost economy growth. >> two words, central banks and we've got globally now whether it's carney, weather it's the push back for the fed, china stimulus. >> the banks have done a great job in supporting or in stopping deflation or disinflation, but you just see that it's very difficult for them actually generate stainable growth and stainable growth -- >> if i want to make money short term, what do i do? >> i think gold. brexit wasn't the reason why we changed our or didn't change or views. >> there's oversupply across the board when looking at commodities. nothing has really changed. >> you're starting to see how oversupply is an issue, but the

supply growth is coming down. individual commodities, the market looks reasonable tights. ev even the base metals are going in the right direction. the issue is just the demand side and the growth side and risk of environments or days like you're having today tend to take that toll in the end, but the worst is over for the kbhod commodities. definitely. >> sterling at a fresh low. 131.14. >> just below the 132 level. >> the stronger dollar, is that going to have an impact. >> particularly in a risk off environment it kind of does put a little bit of head winds as well, but for every argument you can at the margin come up half.

i think dollar such wouldn't necessarily change or call for now. >> interesting to which we were talking to city earlier and in terms of his models they got the strongest dollar buy back. >> it is certainly an issue, but you can see the -- certainly a headwind if the dollar strengthened. >> to gold. >> i think gives you an opportunity to trade gold in other countries for instance. that is an important bun particularly when you're looking at urieurope at the moment. >> thank you very much. metal strategist at bank of america, merrill lynch, global research. u.s. markets open in four and a half hours. the implied open is a little bit o the downside.

a little bit louwer. everything was closed yesterday for the 4th of july celebration. carney, don't forget to tune in. that happens from 11:30. you'll be doing that so stayed tuned to the channel. that's if it for today's show. we'll be back same time, same place tomorrow. >> have a great rest of the day. >> see you soon. bye.

good morning recovery recall. we'll discuss what's behind the move, straight ahead. twists and turns, the race for the uk's next prime minster heats up with new endorsements and surprise resignations. the big friendly flock animated film could be the biggest failure of his career. we'll tell you all about it coming up. it's tuesday, july 5, 2016 and worldwi"worldwide exchange" beg right now.