that's lending qatar money to buy shares in barclays bank.'s known as unlawful financial assistance, a big no—no for regulators. the most interesting thing is, this is the first time senior executives have been personally charged with criminal conduct for their role in the financial crisis. now, as you say, around this time, rbs and lloyds were turning to the government, barclays was desperate not to do that and some wild say the sfa may eventually get their man one day when it goes to court, but have they got the right person, because ina way they got the right person, because in a way it was barclays attemptses that ousted this person. barclays is considering its position. we are yet to hear from considering its position. we are yet to hearfrom john considering its position. we are yet to hear from john varley, the former chief executive and the other executives. one very important point i should point out, this is barclays plc, this is the holding company that has been charged. it's an operating company which is barclays bank. that has not

not only that, but barclays lent £2 billion to qatar holding allegedly to buy shares in barclays.ays turn down government money? the chief executive at the time, and one of the people charged today, said this to mps in 2009. the circumstances were very far from normal. we needed speed, we needed certainty and we needed size. looking back on it, i have to say, given the extreme fragility of the sentiment in the markets at that time, i'm very glad indeed that we managed to raise the capital that we did raise at that time. government ministers at the time have a different explanation. barclays did not want to have anything to do with uk government money. i believe that was partly because of a political view that this would look like creeping nationalisation and also, quite frankly, because the uk government's money came with quite strong restrictions on bonuses. now, if it's proven that crimes were committed here, to some it still won't be clear who the victims were. customers weren't affected. the taxpayer didn't have to shell out. shareholders in barclays did better than shareholde

to buy shares in barclays. lending others money by your shares is illegal. if it is proven that crimes were committed here, they won't claim who the victims were. to taxpayers did not have shell out, shareholders and barclays did better than rdf or lloyds. others will say that rules are rules. changeis approach helped culture throughout banking of not following rules. fraud convictions can carry sentences of up to 10 years. these are only charges. roger jenkins and another defendant have both said that they will defend themselves vigorously. company, said it was considering his position. bbc news. laura: next week mark steyn 220 years since hong kong was returned to chinese control -- next week marks 20 years since honking was returned to chinese control after a century of british rule. hong kong was meant to be largely autonomous from the rest of china. many are now asking how independent hong kong really is. sitting down with the territory's incoming chief executive to learn more. reporter: 20 years since hon

so let's start with that barclays share price.rachel. i mean clearly, criminal charges from the serious fraud 0ffice charges from the serious fraud office are a big deal. not least because these are the first criminal charges relate together behaviour of banks and their executives around the financial crisis, but financial markets tend to move on what they didn't already know and clearly, you know, the markets have known about this probe for sometime and also it has been factored into the price. ba rclays shares are has been factored into the price. barclays shares are cheaper on most measures than their peers across the atla ntic measures than their peers across the atlantic in america and also in the uk. so it's largely in the price, i think. 0k. let's move on tom. let's talk about brexit negotiations. they have officially started, but how significant is today's statement? this statement from the smmt, the society society of motor manufacturers and traders saying there must be a interim deal in place or the motor industry will s

barclays plc itself faces all the same charges as they company.ncial crisis, yet it has become tainted by some of the most serious allegations to come out of that episode. its response to those charges is to say it is considering its position, while it waits for more information from the serious fraud office. fraud charges carry sentences of up to ten years if individuals are convicted but it doesn't stop there for barclay's bank. the fca is considering a heavy fine. barclay's bank. the fca is considering a heavy fine. ba rclay‘s bank bank. the fca is considering a heavy fine. barclay's bank says it faces investigations in the us, as well. simon gompertz, bbc news. the former business secretary, sir vince cable, has become the first to throw his hat in the ring to replace tim farron as leader of the liberal democrats. after losing his seat in 2015, he has just returned as mp for twickenham in this month's general election. declaring his candidacy, he said he would work to secure a second referendum on any brexit deal. 180 families directly affecte

not only that, but barclays lent £2 billion to qatar holding allegedly to buy shares in barclays, lendinghy did barclays turn down government money? the chief executive at the time, and one of the people charged today, said this to mp5 in 2009. the circumstances were very far from normal. we needed speed, we needed certainty and we needed size. looking back on, it i have to say, given the extreme fragility of the sentiment in the markets at that time, i'm very glad indeed that we managed to raise the capital that we did raise at that time. government ministers at the time have a different explanation. barclays did not want to have anything to do with uk government money. i believe that was partly because of a political view that this would look like creeping nationalisation and also, quite frankly, because the uk government's money came with quite strong restrictions on bonuses. now, if it's proven that crimes were committed here to some it still won't be clear who the victims were. customers weren't affected. the taxpayer didn't have to shell out. shareholders in barclays did better than

why now, and why barclays?eporter: really, these decisions were taken at the confessions of the bank. these guys had to sign off on these decisions that ultimately, they were going to pursue these charges, it would be these people in the frame. it was an interesting time. the tory manifesto made a pledge to get rid of some form of the international crime agency. so,'s case is interesting timing in terms of the announcement. francine: what does it mean for what happens next? barclays has not formally responded and we have had a couple executives saying they will fight the charges. reporter: we have a hearing in the london court in a few weeks time. there is one outstanding decision based coming to make in relation to charges, charging the holding company. this is in relation to the barclays bank operating unit. much, ourthank you so enforcement and investigations reporter. now let's go to chris wheeler. what does this mean for barclays ? it is a reputational damage more than a money damage? chris: well, yes, goo

not only that, but barclays lent £2 billion to qatar holding allegedly to buy shares in barclays.llegal. so why did barclays turn down government money? the chief executive at the time, and one of the people charged today, said this to mps in 2009. the circumstances were very far from normal. we needed speed, we needed certainty and we needed size and, looking back on it, i have to say, given the extreme fragility of the sentiment in the markets at that time, i am very glad indeed that we managed to raise the capital that we did raise at that time. government ministers at the time have a different explanation. barclays did not want to have anything to do with uk government money. i believe that was partly because of a political view that this would look like creeping nationalisation and also, quite frankly, because the uk government's money came with quite strong restrictions on bonuses. now, if it's proven that crimes were committed here, to some it still won't be clear who the victims were. customers weren't affected, the taxpayer didn't have to shell out and shareholders in bar

barclays plc itself faces all the same charges as a company.being rescued by the taxpayer in the financial crisis, yet it has become tainted by some of the most serious allegations to come out of that episode. its response to those charges is to say it is considering its position, while it waits for more information from the serious fraud office. fraud charges carry sentences of up to ten years if individuals are convicted but it doesn't stop there for barclay's. the fca is considering a heavy fine. ba rclay‘s says it faces investigations in the us, as well. simon gompertz, bbc news. a review into the murder of toddler liam fee in fife in 2014 has said there were "missed opportunities" which might have saved his life. the two—year—old was murdered by his mother, rachel, and her partner, nyomi, after a campaign of mental and physical abuse, including locking him in a cage. but the independent review said liam's death could not have been predicted and that significant improvements had been made to services since 2014. our news correspondent, andr

barclays did not seek a bailout. by the taxpayer. in 2008, at the height of the financial crisis, it is so long ago, these investigations took a very long time, they raised to £12 billion in two fundraising episodes, with a lot of the money coming from investors in the oil rich states of the golf. principally qatar. the charges relate first of all the payments made to qataris, they were called advisory fees, in the process of negotiating the deal. there are questions about the transparency of these payments. that people were not told who should have known. and secondly, a loan of over £2 billion, paid to the state of qatarjust afterwards. if you think about it, they were buying shares in barclays, shoring it up, and barclays were loaning them money at the same time. so questions are being asked about that. the fraud charges are very serious. there is the potential of a ten year prison sentence for those individuals. companies can face a very high financial penalty. it is a very high financial penalty. it is a very se

barclays share price down just over go up soon. barclays share price downjust over 1%. hottest heatwave fwh issued. it is the hottest heatwave fthune issued. it is the hottest heatwave fwh june for 20 years with issued. it is the hottest heatwave fthune for 20 years with tomorrow predicted to be the hottestjune day since 1976. there are warnings about the dangers posed by the high temperatures especially for elderly people and children and babies. the owners at this zoo haven't about giving the chimps ice lollies and ice blocks which the chimps took to with some enthusiasm. they have got grapes and things. fruity ice. yes. we could do with that in here to keep us cool! now the weather. we canjoin chris keep us cool! now the weather. we can join chris fawkes who can tell us can join chris fawkes who can tell us how much little sleep we'll get tonight. yes, another very warm night to come. the heatwave is going to come to an end. we have got the hot weather to stay with us today and tomorrow, but things will turn cooler and fresher as we head on through thursday. here are

not only that, but barclays lent £2 billion to qatar holding allegedly to buy shares in barclays, lending money? the chief executive at the time, and one of the people charged today, said this to mps in 2009. the circumstances were very far from normal. we needed speed, we needed certainty and we needed size. looking back on it i have to say, given the extreme fragility of the sentiment in the markets at that time, i'm very glad indeed that we managed to raise the capital that we did raise at that time. government ministers at the time have a different explanation. barclays did not want to have anything to do with uk government money. i believe that was partly because of a political view that this would look like creeping nationalisation and also, quite frankly, because the uk government's money came with quite strong restrictions on bonuses. now, if it's proven that crimes were committed here to some it still won't be clear who the victims were. customers weren't affected. the taxpayer didn't have to shell out. shareholders in barclays did better than shareholders in rbs or lloyds, but o

and i am looking at barclays. we heard yesterday that barclays will sell 100s -- 187 shares.stake sale has been approved by south african authorities. the point of it is to boost capital, so we are seeing barclays move a little higher in today's session. finally, i am looking at bingo popular.- banco bank'se considering the sale for 55 cents per share, below the initial target, by the way, of 1.2 euros per share, set executives,ar according to the reports. they are selling a stake for 65 million euros. the sale impact is not material for capital or earnings, probably why we have not seen a lift on the back of that specific news. this bank has been struggling. if you want to know more about it, there is a great summary about the implications for spanish banking. matt: thank you very much. i will hit it. i want to get you bloomberg first word news and sophie kamaruddin has that from hong kong. there is no sound from sophie. we will get back to her in just a bit with your first word news. by now, we want to talk about something we talk about a lot here, and that is morgan stanle

mark: just getting a break ing news on barclays, setting up with barclays there is ans investigationwhistleblower. to interviewing the chief operating officer. the meeting will start this summer, i will go over the events leading up to the controversy. and the fca have declined to comment, the bank didn't make any of the individuals facing interviewing available to bloomberg news . we look at the author of this story down a little later. barclays down .1% today. i just moved my chart, my mistake. but get back to the markets, the first half of 2017 comes to a close. joining us now, richard jones, strategist or bloomberg markets live and so the according the cost of -- and sofia horta e costa u. ,his is the country world index it has been normalized at 100 year to the other two lines are the commodity index, down about 7% and the bond index, which richard can refer to, little change, but stocks are winners in the first half. : it is the best first half of the year since 2003 and if we are ending today -- the u.s. doesn't do anything crazy, which i don't see why it should, it is the fif

office accusation against berkeley ‘s —— barclays.its position, it hasn't come out with a statement one way or another. they are saying they will vigorously defend themselves. and both coming from different angles. both will be standing there saying, hey, i angles. both will be standing there saying, hey, lam angles. both will be standing there saying, hey, i am the whistleblower. at this as an investigation that is ongoing. they will appear in court early injuly. ongoing. they will appear in court early in july. an ongoing. they will appear in court early injuly. an ongoing investigation. just charges at the moment. you are talking about the political instability and economic concerns from the market but the new york times has an interesting article stating that it is china that we should be looking at. this is one of the perennial stories which runs around the market. whenever you see the us or uk or europe in trouble, people say, look at the chinese stock and bond markets. there are concerns about china but to be honest, there are

. >>> we are following a developing story on barclays at this hour.k authorities filed criminal charges against the bank and four former top executives over undisclosed payments to qatari investors during the financial crisis the uk's serious profraud office says barclays and the four executives conspired to commit fraud. two individuals including john varley were charged with the provision of unlawful financial assistance barclays said it is considering its position in relation to the developments shares down fractionally >> the reaction in share prices is small for two key reasons one this is a five-year investigation. we have known it will come to a conclusion at some point soon. so there's been provisions priced in. and whilst clearly barclays is being charged it was a long time ago and the executives mentioned here are all since departed barclays that's why you are seeing a smaller reaction the sfo is an organization that theresa may before her weakening following the election had been planning to abolish. questions around that. not s we'll conti

we start with a major scandal in the world of finance, fraud charges being brought against barclays. >> it's a bit of a watershed moment today, the first-ever criminal charges brought against a u.k. bank in relation to the financial crisis. and four of its former executives being brought up on accusations of illegal misconduct as the bank sought to raise the emergency fund from qatari investors in 2008. >> another legal blow for the uk's largest bank. barclays plc and four former top executives were charged with unlawful financial assistance by the sfo, the serious fraud office, on tuesday. the bank said in a statement it was still considering its position. >> the charges arise in the context of capital raisings in june and november 2008. as financial markets plunged into chaos during the 2008 crisis, barclays managed to avoid a government bailout, thanks to a 12 billion pounds investment from qatar. the sfo is looking into whether payments made by barclays to qatar during that same time were honest and properly disclose. poundsnclude 346 million advisory service agreement fees and a

barclays essentially bailing itself out. here the office in the u.k.investigating for about five years and it looks like they are coming to the conclusion of this process. barclays is likely going to face charges about incomplete disclosure of the way it went about organizing these louts and and face -- these bailouts will face a penalty. the penalty could be between somewhere 100 million pounds to 200 million pounds. in essence, it is a good result because they don't not -- do not have to admit to any more serious charges, but is -- it is still significant have to plead guilty. vonnie: in essence, these things are getting result, but will we see a changeover of ceo before barclays can truly move on? jes staley taking them to the resolution, but will he need to go after it? >> just is still under investigation by a separate u.k. -- jes staley is still under investigation by a separate u.k. -- he will still await his fate and he could lose his job over that. number oftes him by a years and to get the settlement out of the way is just one of a few dark c

barclays plc itself faces all the same charges as a company.is, yet it has become tainted by some of the most serious allegations to come out of that episode. its response to those charges is to say it is considering its position, while it waits for more information from the serious fraud office. fraud charges carry sentences of up to ten years if individuals are convicted, but it doesn't stop there for barclays — the fca is considering a heavy fine. ba rclays says it faces investigations in the us as well. simon gompertz, bbc news. an american student detained by north korea for 17 months has died, days after being released and flown home to the united states in a coma. otto warmbier, who was 22, was sentenced to 15 years' hard labour after being convicted of stealing a political poster. our correspondent steve evans sent this report from seoul in neighbouring south korea. this was the last the outside world heard from otto warmbier. cries of anguish as he was sentenced to 15 years' hard labour in north korea. save this poor and innocent scape

but there are questions over how the funds were raised and what barclays offered in return. of that fundraising, in qatar which prompted this five—year investigation, the first one was advisory fees that were not disclosed at first and eventually it was disclosed £332 million was paid to qatar holdings, who supplied the investment, as i say, in advisory fees, and there was a question mark over whether that advice was really nonexistent and this was reallyjust, if you like, a bung to their new benefactors in the middle east. the second was a loan that was made from the bank to qatar holdings around the same time of this investment and the charge there is that, essentially, the bank was lending qatar money to buy shares in barclays bank and that is what is known as unlawful financial assistance, a big no—no for regulators. those are the two charges. but possibly the most interesting thing is this is the first time senior executives at a british bank have been personally charged with criminal conduct for their role in the financial crisis. ina in a statement, one of the former

barclays was one of those. its own account and in 2008, in two trans.s, it its own account and in 2008, in two tra ns.s, it raised its own account and in 2008, in two trans.s, it raised £12 billion in order to keep the bank going. so at the time, it was seen as the bank that managed to rescue itself. but then questions immediately started being asked about how that money had been raised. that is what these charges relate to. so, as you say, the bank itself, barclays plc faces fraud charges, but alsojohn varley, the chief executive and roger jenkins who was a major figure in arranging that financing, thomas colarres, a former chief executive and richard both, high up in the bank at the time. they all face high charges, some in relation to the first money—raising in june charges, some in relation to the first money—raising injune 2008 and two of them, mr varley and mr jenkins were later fund—raising in the same year. what are the questions around how the money was raised? one is that there were advisory fees of o

barclays caught up in this. fraud office charging barclays with fraud.alking about the possibility of a 200 million pound fine. for -- fourg individuals in this guitar case. which makes it much more serious for them. guy: i read this story and it was barclays probably going to in thefine and that context of fines thrown around, didn't look at it clearly in or miss. it is a big lump of money -- matt: slap on the risk for banks. guy: the fact that individuals are charged changes the game. this is bloomberg. ♪ guy: welcome back. just a minute until the catch up in here in europe. the wti screen, the fair value revealing we will be a positive start to stocks. undelondon looks like it will underperform. keep an eye on barclays today. matt: the equity indexes on the march and also obviously, what is happening at mansion house, waiting for the chancellor of speak.hequer to they are all set up for him there behind the podium. after that, we hear from mark, the governor of the bank of england. both interesting in their own way. one, i think, more important to the

this is thex barclays ceo as one of who has been named in this case. yet is being applied. there had been talking head of this that barclays would plead guilty to u.k. charges but it -- that it failed to make proper disclosures and there was talk of 100 to 200 million pounds, we will see of that comes through. matt: 100 to 200 million pounds will make very little difference but if you charge john burley with fraud personally, that is going a step further than oftentimes these regulators do. anna: this is washed by the regulatory industry. it is possible to charge big companies because they have to be able to show that someone senior enough, the so-called directing mind is involved in the alleged behavior and this has been a long time coming. this us since 2008. as more details break we will bring them to you. bloombergs get the business flash area and -- flash. juliette: billionaire li people heas told plans to retire. i has not specified a date but is likely to step down by his 90th birthday in july next year. he plans to remain a senior advisor and k

sports director don bellies at barclay center in brooklyn an exciting night for sure, don. >> reporter: no doubt bit. we are coming to you live from the practice court, we're talking about practice, here at barclay center, but in about 50 minutes or so we will talk about the nba draft and, of course, where sixers fans are showing up huge here. many of them made the trip up i-95 to check out this event. thinks an opportunity to watch process take a leap forward. team has only averaged 18 wins over last four seasons. the sixers are expected to take top prospect, markell fultz with the number one overall selection, a 19 year-old guard out of washington. here's what fans are saying about the draft and the process. >> i like how it is coming up, you know, he was in high school, he didn't really make the team well. it rings a bell like michael jordan story. i don't know. i feel like he has heart in him and guys from philly, i know for a fact, only thing we need is a heart, and that will pull you through to the championship. >> i'm excited for what philly will get for topic and it will be rea

and british regulators have charged barclays bank and four former executives including the c.e.o. with conspiracy to commit fraud by false representation when they saw investment from qatar back in two thousand and eight barclays turned to qatar to bolster its finances and avoid a government bailout at the height of the financial crisis qatari investors pumped seven point seven billion dollars into barclays during two fund raising rounds in june and then in october of two thousand and eight two of the executives racked up a second account of fraud with regard to the second round of financing at that time the charges are the first in britain against a bank and former executives for activities during the two thousand and eight financial crisis the charges come as yet another blow to current barclays c.e.o. jeff staley who is himself facing a regulatory investigation into his own conduct after he allegedly attempted to identify a whistleblower.

and british regulators have charged barclays bank and four former executives including the c.e.o. with conspiracy to commit fraud by false representation when they saw investment from qatar back in two thousand and eight barclays turned to qatar to bolster its finances and avoid a government bailout at the height of the financial crisis qatar investors pumped seven point seven billion dollars into barclays during two fund raising rounds in june and then in october of two thousand and eight two of the executives racked up a second account of fraud with regard to the second round of financing at that time the charges are the first in britain against a bank and former executives for activities during the two thousand and eight financial crisis the charges come as yet another blow to current barclays c.e.o. jeff staley who is himself facing a regulatory investigation into his own conduct after he allegedly attempted to identify a whistleblower. when a handful of terror attacks on the ground fell tower fire tragedy recently the u.k. has been having a tough few weeks with bret's it talk

barclays c.e.o. jeff staley who is himself facing a regulatory investigation into his own conduct after he allegedly attempted to identify a whistleblower. when a handful of terror attacks on the ground fell to our fire tragedy recently the u.k. has been having a tough few weeks with bret's it talks going the way they are it doesn't look like it's going to get any easier any time soon. for she joins us with more on that for us now the major banks are actually thinking of exiting london specifically because of the impending bricks that what can you tell us about that right so it's actually right now u.s. based investment banks that are thinking of moving out of london and two rival and that's obviously making london a little nervous right now just like new york city or hong kong london has long been one of the biggest financial capitals of the world but post rex it u.k. capital stature and finance could fall morgan stanley bank of america and citigroup three of the largest investment banks in the u.s.

british rival and raise over $1 billion through the sale >>> and the uk serious fraud office charges barclays over emergency fund-raising from qatari fund raisers in 2008 after a five-year investigation into the bank's dealings with the country at the height of the financial crisis >>> as i said, these markets go from strength to strength. it's not just the u.s. markets finding a great vein of form it's the european markets. xetra dax hitting early records in daily trading trading at a relatively tight range is the ftse mib, 0.2% higher the cac cac, 0.5% to the good. the dax, just a whisper away from 13,000. even the ftse 100, and sometimes it's getting support from weak currency, those dollar earners, sometimes it's not, regardless of where the pound is going, the ftse is trying to hit new levels on a regular basis 7600 the next level in the sight for the markets. looking at the sectors, wasn't it two days ago we were worrying about the wobbles in the tech sector, boom, last night they come back in some strong fashion. 0.6% higher on that sector even in the banks, where you have all kinds of

mark: barclays, big day today.ank planning to plan -- seriousilty to the fraud office charge when it failed to make proper disclosures about a multibillion pound capital raising in 2008. at the height of the financial crisis. this is a court into person with knowledge of the process. the fine is expected to be $100 million and 200 million pounds. the final amount will be decided by the judge. the sfo saying we are expecting to announce charging decisions within a few days. we wouldn't make any comment ahead of that. barclays is in commenting as well. the barclays is set to plan a guilty plea over disclosures in this qatar case. problem's that beset barclays is the financial crisis and we'll keep an eye on that. vonnie: hoping all this will eventually go away, that enough time has passed and the firewalls are put in place. president donald trump admits publicly is under investigation for fiery james comey, but he appears to put the blame on one of his own. this is bloomberg. ♪ mark: live from new york and london, i

with us is michael gapen from barclays good morning to you.it the fed decision and the forecast yesterday from janet yellen that is leading to the weakness >> i think it's a contributing factor yes. it's hard to look at a fed that's normalizing either front end interest rates higher, balance sheet runoff and think that won't weigh on equities to some degree. i think it's a factor. >> are investors missing a trick here we very clearly got forecasts from the fed, another rate hike this year, around about three next year. that's not really priced in by investors. >> no, it's not. the fed has a view that inflation will be stronger than i think the market does. i think the market is looking at some recent weakness in inflation saying it's more than transitory it's betting that at some point the fed won't fully execute on its interest rate plans. the fed continues to push markets higher and signal that they'll take action. the markets won't listen to the near-term story there, but discount actions further out >> michael, how worried are you about th

barclays also lower.tial conspiracy to commit fraud charges being aimed at barclays. let's look at the pound. it keeps plumbing the depths. we hear from mark carney. yields on the u.k. are falling lower, u.s. yields also down by one basis point. 2.18 is where we trade on the 10 year benchmark. erie crude oil, down 2.8% it is really pulling down most of the stock market. the dow jones industrial average could hit new highs today. this is bloomberg. ♪ >> this is bloomberg daybreak. i am emma chandra. here's the fuel enterprise greenroom. jeff terry of goldman sachs. say with us. -- stay with us. david: this is bloomberg daybreak. i am david westin in new york and my partner and friend caroline hyde is in london. airline? caroline: the partner in crime for today, and we have another exclusive interview for you on bloomberg daybreak. facebook coo sheryl sandberg spoke about the opportunities in technology and what it means to jobs or businesses. here's what she had to say to me earlier. >> what we are seeing

barclays act out the machine that stands in that case with a red carpet, gold cover, and a commemorativeplaque. the first automatic cash dispenser debuted in the u.s. about two years later. there are now about 3 million atm's run the world. the irish inventor claims responsibility says he was inspired by vending machines that could dish out candy bars and soda. he said why not cash? laura: and what a great idea it was. we are taking a short break. stay with us. ♪ amy: from pacifica, this is democracy now!. >> i'm here to announce the indictment by a special grand jury of three current or former chicago police officers. the indictment makes clear that an s unacceptable to obey unofficial code of silence. amy: as three chicago police officers face charges of cover-up for the police shooting of 17-year-old laquon mcdonald, we look at

this relates to the emergency fundraising which enabled barclays to avoid a government bailout. the bank says it is considering its position and are waiting further details. china is planning to build a high-speed railway in russia to the tune of $2.5 billion. it will be 200 kilometers inside russia. is pushing for a new silk road, linking asia, africa, and europe. ailt year, a state on rea group signed on to the plan. a group warns that climate change could wipe out half of this year's coffee production unless farmers moved to higher ground. they climb in temperatures and reduction in rainfall have already degraded prime growing areas. ethiopia is among the top five coffee producers but if global warming continues unabated, 60% of land currently used to grow coffee beans could become unsustainable. >> thank you for the business roundup. time now for our press review. take a look at what is grabbing headlines. let's start in france. about the are talking aftermath of sunday's second round of parliamentary elections. the spotlight on with the new parliament sector looks like. >>

this is photo of the trooper steven barclay, and carried her down the road with flames surrounding them. reporter madison wade helped reconnect the two. >> reporter: it is a peaceful place now. >> this is my little piece of heaven. >> but six was in the middle of an inferno. >> everything was on fire. the woods, the cabin, everything. >> including linda's bedroom. >> waking up that night is something i will never forget. the cabin was already on fire. >> no time to grab anything. linda left it all behind. >> i just got out. barely. >> running as fast as she could. >> lost my left shoe. >> the fire surrounding her started to burn her arms and feet. >> it is no fun to feel your own skin burning. >> she continued to run but a tree was blocking the way. >> every step i took, i said jesus help me, jesus help me, over and over and over. >> her prayers answered. emergency down the road. >> they looked like gladiators. >> several state troopers stepped in. and one decided to carry linda down. >> he asked me how old i was and i told him and he said much do you weigh, and i told him and i didn't

i'm in bk at the barclay center and like you said there's really no suspense here. okay.e fultz is the guy he's coming to philly and he's ready to trust the process. hopefully he's ending the process. okay. and he's a guy who actually got cut from his jv team in high school and instead of transferring he said you know what, i'm staying here. i'm trusting the process. now, he knows a lot of the guys that are here tonight and they all known each other for years due the aau basketball circuit a lot of guys including josh jackson who should be the third pick talk about they're all family. that's right all rooting for each other. >> 60% of the guys that are here right now i've been known for four or five plus years. so it's just been really special to see, you know, all of us come up from, you know, little kids and we just be here today and we're all living out our dreams, and i can honestly say i'm proud of a lot of the guys in here, and i know they're proud of me, too. >> reporter: well, of course, they're proud and they're all about to be millionaires. okay. they're all abo

still with us is keith parker a barclays.annot look at tim cook without thinking about tech and what is going on in the tech stops. they -- stocks. they stabilized today. apple was no exception. he got hit pretty hard and downgraded. it has been right in the center of it. two weeks agower wrote a piece about the rotation of the value into growth that was reaching stretched levels where number one top 10 stocks contributed to the s&p return was nearly 50% brady hadn't seen that since 1999. apple a pretty good -- pretty big contributor and the growth reset from cheap levels earlier in the year to put the expensive levels. cut a list, you saw a pullback to positioning consolidated. jonathan: it is unusual to see the nasdaq pullback by two percentage points and the s&p 500 and the dow kind of tread water. is there a message in the section? keith: to me, that was more than a three standard deviation of a -- event. the message to me of positioning was extended. i think there is discrepancy around some of the story and i think, to m

a really big story about barclays. price this morning, that‘s gone down a little. this is all to do with the time back when everything was just going crazy in the city with how will our banks cope during the crisis? elsewhere, more than 200,000 pounds has been handed out to the 180 families affected by the grenfell tower in west london last week. the payments we re west london last week. the payments were recorded by the government‘s newly formed grenfell response team. it said 78 families had been rehoused locally or in a neighbouring borough and that 126 hotel places had been secured. an american student freed last week by north korea after spending 15 months in prison has died. otto warnbier was in a coma when flown home last week. his family accuses north korea after torturing him after he was arrested for stealing a propaganda sign. donald trump spoke shortly after his death.” propaganda sign. donald trump spoke shortly after his death. i just wa nted shortly after his death. i just wanted to pass on word that ott

. >> following a developing story in barclays.authorities filed criminal charges again the bank and four top executives under undisclosed payments to qatari fund raisers in 2008 after a five-year investigation into the bank's dealings with the country at the height of the financial crisis the stock not doing a whole lot there. the head of the bank of england says now is not the time to raise interest rates speak together london financial community this morning, mark carney warned of weak wage growth and a potential hit to income as britain begins talks to leave the eu. carney says businesses may need to soon activate contingency plans. the pound, 1.27. off the lows we saw post-brexit. right now not budging that much. >> lloyd blankfein speaking to jim cramer last night on "mad money. he said the economy is looking pretty good he said he is not completely on board with president trump's agenda but tax cuts, infrastructure spending and deregulation would be good for the economy. he also weighed in on the roll back of banking regulat

central bucks high school south, tamanend, unami middle cools, butler mill creek titus and barclay elementary schools. they tweeted there is police activity near bradford dam. police received a call before 9:00 this morning reporting that escaped prisoner daniel sell by was at his home looking far ride home. the school district is saying parents should not duoto those area schools. those seven schools are under lockdown. they will not be allowed in. we'll continue to stay on breaking news and bring you updates as they are available. >>> now to new developments in montgomery county. day two of bill cosby's sex assault trial is underway. pam, what can you tell us about day two? >> reporter: yeah. we have been talking all morning about whether or not the mother of one of the witnesses will be allowed to testify. we know she has testified. here is what she told the jury. she said that she and her father -- she told them bill cosby invited her to a lunch to talk about her career. when he got there she said she was direct today a bungalow. she got there and cosby answered the door in a bathrobe and

british bank barclays and four former executives have been charged with fraud over their actions in theit's the first time criminal charges related to the financial crisis have been brought against a bank in the uk. the new york times reports china is sending jitters through the markets. it says investors have been preoccupied with politics in the us

according to people familiar with the matter, barclays was reprimanded -- barclays reprimanded him. job and if he is foundus unfit to run a financial institution. they have a market cap that tops $5 billion. shares sold at nearly $72 after a final offer price around $79 a share. about 170 million shares are outstanding. fitbit has wanted to country most important project in years. the company's smart watch is months from his debut, but it lost several people working on the project. hardompany has been hit and is pinning its's the smart watch. that is your business flash update. scarlet: the global threat of ran somewhere -- of ran some -- ramsomeware throughout the globe -- let's check with emily chang. emily? tomy: hey, i'm joined by stewart, alex webb, our tech reporter who covers apple. i want to start with the cyber attack. it seems the companies are surveying the damage. what do we know now? >> that's right. it's how much did they get and how much were operations disrupted. this was not a traditional ramsonware. give us your money, we will give you our data. this was more about

years to the day since the world's first cash machine or atm was opened at the enfield branch of barclaysre now three million of them around the world. but in an era where we increasingly use everything but cash to pay for the stuff we buy, does the technology that was once cutting edge have a future? simon gompertz reports. 1967, a revolution. the first money from a hole in the wall. you put in a voucher and a code, and he got ten £1 notes. this television celebrity had a go, and the cash machine was born. this is what we've come to. there is a banksia, on these ones, you can open a bank account, sign in your name, it will take my photo as well. just to prove that it's me. you will be able to see and talk to bank you will be able to see and talk to ba n k staff you will be able to see and talk to bank staff directly on the screen. you can take out money using your mobile phone. you don't have to have a card. we are light years ahead of 50 yea rs a card. we are light years ahead of 50 years ago. is this the sort of banking we actually want? we are doing our banking on our mobile phones an

big stakes in volkswagen, russian oil giant rosneft and commodities trader glencore to britian‘s barclays of square metres of london including the shard and harrods. the success of qatar airways has made it a major aviation hub. but more than 50 flights a day have been grounded because of airspace closures. and it's a huge employer of migrant workers — many of whom are working on stadiums for the 2022 world cup. families from india to the philippines depend on the money they send home. there are half a million workers from india alone in qatar. so how serious could the economic impact be? joining us now, laura james, senior middle east analyst 0xford analytica. give us an idea of how important it is that this is solved quickly. it's important. the most obvious is food imports. qatar is completely food independent. around 10%, especially most of the dairy and more of it is shipped through ports controlled by dubai, for example. if we then lurk at the impact on the air sector. in advance of the 2022 world cup. if we look at how migrant workers will be affected. it's an extremely serious imp

we're so excited that coach jones joined us here at the barclays center in brooklyn. we'll be here and continue coverage. congrats a little early. >> thank you very much. this is a great day for and his family. >> all right. we'll be continue to be here reporting from the barclays center, back to you. >> can't wait for 11:00 tonight. thanks so much. >>> good stuff. >> it is the leading woman's health, but do you know what it is. >> doctors say half of you don't know the answer and it's putting lives at risk. >> getting through the airport process easier, how did you like just be able to use your two fingers to do it all. guess what, one airline is trying that out. >>> i'm shomari stone here at the metro station in front of the giant's supermarket. d.c. police officers are standing at the entrance. they have crime scene tape up, why? a source tells me that a giant employee stabbed another employee inside this supermarket right here. i just found out that information a couple of minutes ago from a source. now, we do not know the extent of the injury of the giant employe

investigators deal barclays another blow.ber of to the misconduct crises in the nine years since the financial crisis. shery: this is bloomberg. ♪ ♪ shery: this is "bloomberg best". i'm shery ahn. let's continue our global tour of the week's top business stories with legislative elections in france. voters gave a boost to the new party led by president emmanuel macron. >> in france, macron's republic on the move and its allies have won 350 seats in the national assembly. that is the biggest majority in 15 years. >> it is a large majority. 350 seats. out of 577, he will be able to pass reforms in the parliament. however, it is not as big as we expected. there were very tight races in some of the constituencies, especially against the republicans. they're actually not over yet. there are 137 seats in parliament, so they will be able to make their voices heard. and you have the leader of the national front. marine le pen elected for the third time after failing four times to get a seat at the national assembly. she managed to ge

. >>> i want to look at barclay homes. if there's one thing british people are obsessed w it's the house price market barclays is an interesting place. it is posting a better than expected 53% increase. 53% increase in pretax profits for the full year. they are on track to deliver 3 billion pounds of pretax profit in the next four years but it's warned that brexit and tax hikes on the high-end property could harm the sector near-term. i think it's apolitical to say it's seen as a golden goose, the high-end property market for increased stamp duties they've been putting up the stamp duty, they get more money from that now than ever. billions and billions. one day that will stop because there will be less activity. really volatile stock. 20 pounds is the low of the last 52 weeks the last 52 weeks just about now encompasses the brexit period. brexit the 23rd. market moved aggressively on the 24th of june why do i think this is ab interean interesting company? the average selling price of a house is 220,000 to 230,000 pounds b