to er to hear, that alfa bank was totally fine.hing to see here. everything's -- you guys are blowing this all out of proportion. one of those two investigations, i should tell you, didn't even look at what happened during the campaign. they didn't look at anything that happened in calendar year 2016. and here's how "the new york times" described the other one. quote, the investigation of alfa bank was at best cursory. according to people familiar with the review, its experts were shown metadata for the communications that took place. the content of the messages were not available to the reviewers. quote, without a much deeper forensic examination, the review could not determine the purpose of the communications between the two servers. the resulting report was carefully hedged, noting that without more study, it could not give the bank a clean bill of health. nevertheless, the bank used that report to make the case that it had been exonerated. nice trick, right? somebody turns up something fishy in your behavior, you say, oh, i'm

maybe that whole alfa bank server was a coincidence or a technical glitch. that story came out october 31st on slate.com. then a week later donald trump won the election and then during the transition when he was president-elect, there emerged the next weird inexplicable maybe coincidental thing involving trump world and a russian bank. one of the numerous contacts with russian officials that jared kushner did not disclose on his request for a security clearance was a meeting that he took at trump tower during the transition where he hosted the head of another russian bank. jared kushner met with the head of a russian bank called veb bank. it's a bank but really just an entity of the russian government. the leadership of veb bank is hand picked by lad peer putin and veb bank's connections with russian intelligence are not subtle. sergei gorkov is a graduate of the fsb academy which means he went to kgb grad school. veb bank was coordination of a spy ring, that was the russian spying investigation where carter page was found by the fbi to have been essentiall

because, all right, there was alfa bank with the server thing. there was veb bank with the carter page connection and then the jared kushner meeting. sberbank hiring trump's russia lawyer. there's all of these russian banks getting strange new starring roles in american politics. there's another one, alfa bank, veb bank, sberbank and another one called vtb bank. it's a very large russian bank not as big as veb bank but it is very big. vtb pabank is sanctioned by the u.s. government as punishment for crimea because this bank is seen as the russian government. it's an arm of the russian government and that's how the u.s. government views them. in fact if you go to vtb's website tonight, click on about vtb and they'll tell you in exact mathematical terms how they're controlled by the russian government. the russian government owns and controls 60.9% of the vtb bank. the majority shareholder of the vtb bank is the russian government. what that means in plain english is that putin runs vtb. putin controls the bank and what it does and what it spends o

on the news it is said the company is considering spinning out to of its luxury romeo, maserati and alfa it parts business. shares up about 6%. ally financial, up 2.5%. they are the biggest car auto loners, surpassing wells fargo. 15%, the fed is lifting at tier one leverage constraint on its main subsidiary, allied back. shares are rallying. down wpp shares were still more than 10%, earlier declining by 13%. since octobere 1998. i will speak with martin sorrell next on the european close. this is bloomberg. ♪ ♪ vonnie: live from bloomberg world headquarters in new york, i am mark barton. --vonnie quinn. mark: i am mark barton. challenges facing the advertising business with shares of wpp plunging for the most in 17 years, cutting it revenue forecast and client cutting market spinning. -- marketing spending. joining us is wpp chief executive sir martin sorrell. smacked by the size of the decline in wpp shares today? sir martin: i never comment on share prices. it is a bad thing, whether they go up or down. let's talk about the reason come in the investor meeting today, you listed micro r

he might be something similar with the maserati, alfa romeo.a bit more risky than selling ferrari. ferrari is a brand, a jewel inside fiat chrysler. there is a chance they will do it. we see investors appreciating this has shares rose more than 10%. are headlines from news on an option for a spin off yesterday. mark: great stuff. this is fiat chrysler. a look at some of the biggest business stories of the news right now. signs that rising prices and shrinking inventory are still having an impact on the u.s. housing market. existing home sales on effectively fell to an 11 month low in july. tuning out rate of 5.4 million homes. the median sales price rose 6.2% of the year ago to $258,000. shares of abercrombie & fitch are rising today. the casual clothing retailer posted second-quarter loss of more than expected. sales will be flat. in the u.k., shares of the country's biggest electronics retailer plunging today. their forecast had an unexpected drop in profits this year. one reason, an increasing number of people are not upgrading. that is the

to be going on, as my great colleague reported, it looks like they are probably going to spin off alfaeo, maybe spin off the components business, the parts business, and then have a skinnier, less debt laden fiat chrysler that its centerjeep at and be a standalone company or be attractive to merge with somebody. it seems like they have given up on merging with gm, but they have big players and less big players. one to watch and a great story. coming up, the kansas city fed president all the way from wyoming. her calls on inflation rates and takeaways, next. this is bloomberg. ♪ got you outnumbered. the dinosaurs' extinction... don't listen to them. not appropriate. now i'm mashing these potatoes with my stick of butter... why don't you sit over here. find your awesome with the xfinity stream app. included with xfinity tv. more to stream to every screen. vonnie: very nice. at the hudson river. this is bloomberg markets. let's get a quick check of the major averages. whether it is late august or perhaps jackson hole jitters, we are not seeing too much movement in the equity markets. s&p

the italian company reportedly might spin off the upscale maserati and alfa romeo brands, and its partsrations. they say that would make fiat chrysler more attractive for a more combination with a competitor. investment bank executives at bank of america are debating where their european union trading have should be after brexit. brexit.hould be after the equity says one friend for 20 fixed-income chiefs favor paris. that is related bloomberg business flash. still ahead, the isbn ceo reveals that ibm -- we hear from her next. ♪ this is bloomberg. >> broadly, yields are lower your lows. the fed is behind the curve. ♪ vonnie: this is bloomberg markets, i am vonnie quinn. 19 female ceos of the s&p 500 company since 2009 at step down and in only three of those cases, what she replaced by a woman. the ibm ceo sat down with david rubenstein and the latest episode of the david rubenstein show. position,sed her management style, and mentoring women in business. >> for the woman to be the head of ibm is better than the men or economic a difference? >> it did not make a difference. >> if you do n

alfa romeo as well. watch for that. stocks are up 7%. it is really done great. on other hand turn the arrow around, la-z-boy, what is going on? is everybody in their chairs or not. down 20%. big move to the downside. their numbers completely missed quarterly estimates. i will say now for the month of august, major averages all to the downside. we haven't had a down month for the dow since march. back to you. melissa: nicole, thank you. david: renewed concerns over a pro-growth agenda. stocks falling after president trump threatens a government shut down if congress doesn't fund the border wall. let's bring in the panel. lenore hawkins, and we have a "washington times" columnist and with the national coalition for trump. it doesn't have to take political sides. it only looks to the future, whether prospects are better for making money. today it sees those prospects as poor. do you? >> yes. i think what we've seen and markets hate instability. what we saw in about a week, was we went from we had the president of the united states and the leader of north korea exch

fiat chrysler said it is , including aptions plan to spin off missouri maserati and alfa romeo.t in u.s. trading, up 7%. joe: the government bond market, rates lower. is concerned about the debt ceiling, but rates pretty much lower. 1.31%,r yields down to 10 year yield set 2.17%, not quite at the bottom of this year, but getting close to the bottom of the range. >> currencies now, risk off tone matching small declines. the dollar against the swedish , considered one of the safer currencies. the dollar falling against the yen, the yen a safe haven currency. zealandook at the new dollar against the dollar, risk on pair, also down. we have a risk off pictured looking at currencies. look at an intraday chart of the mexican peso. the dollar climbed against the peso, the pace of down almost 1% after president trump did reiterate the promise of the border wall, willing to shut down the government to do it. some action there for the mexican peso. joe: on the commodities front, green across the board. for wti.1% gold getting a bid, the treasury rally, moving in tandem. nickel and aluminu

el jugo de limÓn contiene Ácido alfa. se encuentra en muchos tratamientos anti envejecimiento.. clara: con esto que es. doctor juan: se nota que soy hombre. >> tiene que ser suave. doctor juan: clara, lo que quieren saber, perdona que tenga el atrevimiento de preguntar, cuÁntos aÑos tienes? >> mÁs de 60. doctor juan: es un programa de adivinar. [risas] >> llegando a los 70. doctor juan: estÁs muy joven. >> estÁs muy bien. doctor juan: cuÁnto a veces al dÍa? clara: por la maÑana y la noche. otra cosa es la limpieza. si me pongo maquillaje me limpio bien. me hidrato constantemente. doctor juan: muchas gracias. [aplausos] muy bien. vamos con ruth. cuÉntame. ruth: mi secreto son mis remedios naturales. naturales y caseros. son unas cremas -- cremas a base de vitamina a. doctor juan: eso te fortifica los tejidos que estÁn debajo de la piel. ruth: estimular la producciÓn de colÁgeno. y mi vitamina c. tiene bastantes propiedades. doctor juan: la vitamina c la puede tomar una. ruth: en crema la podemos conseguir, tambiÉn en la alimentaciÓn. doctor juan: en quÉ momento del dÍa? ruth: en

it is considering a plan to spin off maserati and alfa romeo brands parts unit.ds. that is above its october 2015 spin off price. how much would this be worth to fiat? they could be worth over a billion dollars with all those luxury brands. we can blame what is happening over with the slide, but let's take a look at lows come off 5% in premarket, looking at the worst day since 2012. be, butre sales did they really trailed home depot. quarterfifth straight that lowe's has trailed home depot in terms of sales growth. i've been hearing that story for at least 10 years with the turnaround plan really favoring hd versus lowe's. really hitting on the downside, la-z-boy off by 16%. earnings misses estimates because they had a lack of cost controls. sales were not enough to make up for fixed costs that were rising. it made those fixed costs very difficult to absorb. maybe we are not chilling at home as much as we used to anymore. those of the earnings hammering stocks in the u.s. as the risk off move continues. jonathan: a risk uptown gathering a little bit of momentum.

apple up, alfa bet up, okay. a connection between self-driving consider and some of those stocks.e hour, a tale of the tape, to date five ceos have left the president's ever manying advisory counsel. one of them kent frasier of merck bringing in his own personal, political u views. is that right? we'll be back. we're on to you, diabetes. time's up, insufficient prenatal care. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you, too. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. potsc(in unison) drive russ, leland, gary: yes. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this. potsch: this new truck now has a cornerstep built right into the bumper. gary: super cool. potsch: the bed is made of high-strength steel, which is less susceptible to punct