this is on volvo. $103.6 billion. on the truck order intake, that is up by 10%.ales, $103.6 billion, the operating profit very comfortable at $11.25 billion.that is for the volvo truck side of the business. taking that clearly moment for the north american operations. no lines from them in terms of the cost this far, supply chain. you can see having a little bit of a troubled session over the past three months. it has gone red. the market pens them at 10.08. we have politics aplenty in the united kingdom. you have a special reporter with you there. some pretty interesting sterling cause. take it away. anna: charlotte ryan there. is still with us. is manus says, you have done this survey. how week do participants in your survey say the pound could get against the dollar if there is no deal? we have a chart here that shows channels, the downward sloping channels the pound is been in as of late. : two banks had a similar drop after the brexit vote. most serious two banks in the survey dropped even further to 115. levels we have not seen in quite some time. i think a

one car. after reviewing surveillance video, police determined that the suspect was driving a grey volvoey then checked licensce plate reading cameras along nearby mowry avenue and found a grey volvo leaving the area around the time of the burglaries. after running the license plate they determined that the car was registered to phillips and that he had an extensive criminal history.sot and is currently out on bail for a crime in another city in alameda county where a firearm was used. so we knew we had a violent offender coming into our city.armani phillips was taken into custody on july 20th near his home in hayward. police say that a stolen handgun was found in his possesion at the time of the arrest. he is now being held at the santa rita jail on multiple charges.sotwe've connected him to 5 auto burglaries in our city. we think we have him on others. we found property in residence that belonged to other people. police also say that the use of license plate reading cameras was key to solving this case.sotwe are using this data to solve crimes. we are using the data to deter and stop p

. they then checked licensce plate reading nearby m found a grey volvo leaving the area around the time of the burglaries. after running the license plate they determined that the car was registered to phillips and that he had an extensive criminal history.sot and is currently out on bail for a crime in another city in alameda county where a firearm was used. so we knew we had a violent offender coming into our city.armani phillips was taken into custody on july 20th near his home in hayward. police say that a stolen handgun was found in his possesion at the time of the arrest. he is now being held at the santa rita jail on multiple charges.sotwe've connected him to 5 auto burglaries in our city. we think we have him on others. we found property in residence that belonged to other people. police also say that the use of license plate reading cameras was key to solving this case.sotwe are using this data to solve crimes. we are using the data to deter and stop people from coming into our community and victimizing people in fremont. police also found stolen property in phillips home and t

rishaad: we have initial feedback sent to value volvo below estimates.ans that it could stay private. china was thinking as much as 30 billion. peerses this compare with such as daimler and bmw? >> the initial range of 30 billion was several multiples above. now that they have seemed to lower the price range there talking about, it is a slight premium to peers like bmw and daimler. tesla as well. what does this mean for the company's ipo here? >> if they're not getting the valuation date were originally the valuation could become it in hong kong. they were planning on listing in hong kong as well as sweden doing to do a listing. this hong kong has -- market has traded. do you have any other clues as to the tries for the valuation? >> i think it is the hong kong stock market trading down. also, the peers like bmw and i might have been down since may when the 30 billion valuation target was made. rishaad: let's move it onto what is happening elsewhere with the ipo bonuses gaining popularity among chinese companies. a billion dollars. there are no strings a

one car. after reviewing surveillance video, police determined that the suspect was driving a grey volvo checked licensce plate reading cameras along nearby mowry avenue and found a grey volvo leaving the area around the time of the burglaries. after running the license plate they determined that the car was registered to phillips and that he had an extensive criminal history.sot and is currently out on bail for a crime in another city in alameda county where a firearm was used. so we knew we had a violent offender coming into our city.armani phillips was taken into custody on july 20th near his home in hayward. police say that a stolen handgun was found in his possesion at the time of the arrest. he is now being held at the santa rita jail on multiple charges.sotwe've connected him to 5 auto burglaries in our city. we think we have him on others. we found property in residence that belonged to other people. police also say that the use of license plate reading cameras was key to solving this case.sotwe are using this data to solve crimes. we are using the data to deter and stop people f

volvo is now owned by china and vaping devices as well. that's something that is chinese made. going in the opposite direction, china will tariff u.s. goods sold in the country. what does that include? the carmakers say it they took the brunt of it. mercedes, bmw make a lot of suvs here in the u.s. and they ship them over to the chinese market. they will be tariff that 40% along with tesla and ford. this is unfortunate for these automakers because they actually somehow won the right for china to reduce the import tariff down to 15% from 25%. they think will be losing out on the china market. gary, let me start with you. vaping will get really expensiv expensive. what are you going to do? i'm not to worry about this at all. i think this whole trade war thing is completely blown. it would be like walmart worrying about procter & gamble. we're such a big part, we are 4% of china's gdp. if they want too, i think everyone agrees that if they want to pick a fight we are walmart their proctor and gamble. we can force upon them. the federal reserv

is a very safe car, volvo. if you put a kid in a volvo and send in the wrong direction they will be safe when they get nowhere. that is not what this is all about. [applause] >> thank you, mayor. i'm fully aware that missouri is one of those states that does a poor job authorizing charters particularly does not close the failures. the data is really clear. in states where failing charters are not usually closed charters are mediocre. in states where charters are routinely closed, charters thankfully outperform traditional schools so it makes all the difference. i want to turn to sen. mary landrieu, the first woman from louisiana electrical term in the u.s. senate and has been a tireless, tireless campaigner for better education, charter schools, environmental protections, small business, so many other issues for a long time and continues to do so now that she's no longer in the u.s. senate. tell us about new orleans and anything else you want to share. >> thank you for your extraordinary leadership, over 30 yea

ford and cadillac and volvo are starting car subscriptions allowing you to swap cars in and out of your local dealership when you want. >> when my car gets dirty, i can just flip it. >> the changes that people want a more seamless changes from start to finish. >> reporter: more veengs -- convenience means more money. $950 a month gets her delivery, maintenance and choice of 40 cars. experts say watch out for high sign-up fees. >> automakers are charging a premium for subscription services because you get convenience and flexibility, all priced in. >> reporter: a changing auto industry switching gears on how you drive this summer. jo ling kent, nbc news, los angeles. >>> when we come back, if you're traveling by car, this fourth of july, what you will be paying compared with a year ago. >>> back now with the world cup and the heart stopping finish penalty shootout, england sneaking it past the goalie in the corner of the net with a victory. this is england's first knock-out win in a major tournament since 2006. >>> if you're traveling by car this fourth of july, you will be paying quite

volvo is a very safe car. if you put a kid in that volvo and send them in the wrong direction, they're going to be safe when they get to nowhere. that ain't what this is all about. >> thank you. i'm fully aware unfortunately that missouri is one of those states that does a very poor job of authorizing charters. particularly doesn't close the failures. the data is really clear. in the states where failing charters are not usually closed, charters are fairly mediocre. in states where charters are routinely closed, charters vastly out-perform the traditional schools. it makes all the difference. i want to turn next to my friend senator mary landrieu who was the first woman from louisiana elected to serve a full term in the u.s. senate. and has been a tireless, tireless campaigner for better education, charter schools, environmental protection, small business, so many other issues for a long time and continues to do so now that she is no longer in the u.s. senate. mary, tell us about new orleans and anything else

the tail lights with their high and long book shade reaching up to the roof spoiler in keeping with volvo's design tradition. on nuclear weapons even as no this is that with the roofline five point seven seven meters lowered the nuvi sixty looks even sleeker is warning here how much she doesn't notice any loss in headroom in the back seat she still has plenty of space over her head of what i'm cup. she's got enough room for legs to the interior passes muster with high quality materials and state of the art instruments . the screw wheel drive mode selector in the center console it shows the optional adaptive suspension to settings ranging from comfortable to sporty. eunice notes a few more features that are in the v. sixty the designation premium weygand a wave of her foot and the hatch opens automatically. that can be very convenient when her arms are loaded up and find the money and my heart and if she wants to fold the rear seats down she doesn't have to go running around the car she just presses the buttons down to one side that and the seeds for themselves down no hands need it so much.

ford and cc and volvo are starting car subscriptions allowing you to swap cars in and out of your locallership when you want. >> when my car gets dirty, i can just flip it. >> the changes that people want a more seamless changes from start to finish. >> reporter: julie's $950 a month gets her delivery, maintenance and choice of 40 cars. experts say watch out for high sign-up fees. charging a rs are premium for esubscription servecause you get convenience and flexibility, all priced in. >> reporter: a changing auto industry switching gears on how you drive thisummer. jo ling kent, nbc news, los anles. >>> when we come back, if you're traveling car, this fourth of july, what you will be araying comped with a year ago. ompared with a year ago. the world is full of different hair. that's why pantene, the world's #1 conditioner brand, has conditioners for every hair type. from air-light foam for fine hair, to nourishing 3 minute miracle for thick and curly. and the moisture-infusing gold series collection. giving more women great hair days - every day. pantene. world's number one... conditio

while chasing her volvo through county streets, berlin's livestream is troubling. >> the police department is all chasing me. it is so scary. oh my god! they are going to shoot me. >> reporter: both fires caused more than $20,000 in damage to the bales of hay. berlin was charged with fleeing a police officer, reckless driving, arson, stalking, and contempt of court. she was also booked on outstanding arrest warrants in san francisco for unrelated charges. this fire could have been worse. there is a bigger issue at play with the bizarre turn of events. >> the bigger picture is mental health. i think this was a cry for attention. >> reporter: berlin's next court date is monday, july 9 in redwood city. mike is thankful she is off the streets but hopes that people can get the help they need ktvu fox 2 news. >>> 49ers legend dwight clark's ashes have been laid to rest next to a familiar monument for fans. >> nfl fans will record highs this goalpost right here. that was the goalpost that was in the end zone of the catch in candlestick when dwight clark beat the dallas cowboys. >> the goalpost si

now brands like ford, volvo are starting car leasing programs. >> the changepl is p are wanting a moreeamless experience from start to finish. >> reporter: more convenience means more money. it's $950 a month which gets her delivery, insurance and intenance and 40 cars. > automakers are charging a premium for subscription services because you get the convenience, flexibility. that's all priced in. >> reporter: a changing autry indu switching gears on how you drive this summ. nbc news, los angeles. >> might work for some people. >> it's nice. >> good option. >>> we're watching the weather now. >> we could seeth a few pop up derstorms. we'll have more on what we can expect. at ikea, we believe your perfect student deserves the perfect room for the perfect price. and... who's there? hey. a boy? you never told your dad and me about any... wait, what's going on now? move the flag. ♪ ♪ at ikea, we believe your perfect student deserves the perfect room for the perfect price. and... who's there? hey. a boy? you never told your dad and me about any... wait, what's going on now? move the flag. ♪

toyota is doing this, mercedes, volvo.own cars, get used to the driving a brand, when they are in position to buy the car because they have a large family, it's a great way to buy the brand and get recognition. charles: who is winning right now? we hear these announcements. i'm not quite sure if anyone has a solid lead in that area, from a manufacturers point of view? >> yeah, i agree with you. i don't think anyone is leading in the category at all. you think volvo might be leader in subscription services. mercedes is there, cadillac with book by cadillac. manufacturers are trying to do anything they can to sell cars. if you look at total annual sales this year, substantially less from previous years. we don't know where it will end up. right now if there is not incentives, cars are not being sold. charles: some saying peak auto. do you subscribe to that? >> as far as the peak of the auto i would say two years ago. right now we're looking at a dip right now. it will always rise and fall. that is part of any stock market, a

the volvo s-60 is one of those volvo has indicated it's not sure what it will do when it comes to pricingchanges due to the new tariffs in effect. that 25% on china vehicles which used to be 2.5%. right now general motors is the biggest importer of vehicles from china we're talking about the buick envision there are more than 40,000 of those that were imported to the united states last year. 41,000 of the buick envisions. general motors said they are going to assess how to handle those costs. most believe we are going to see higher sticker prices in showrooms if you see this trade war continue to spread not only between u.s. and china but between the u.s. and europe. that's the greater concern for the auto industry. guys, back to you. >> phil, longer term, i would guess that some of these manufacturers are trying to figure out how to manufacture the goods in other places. right? particularly for somebody like bmw who's not based here. >> not as much as you think because they've already made their commitments. here's the concern for them. okay, what if you're worried about exports being ta

a lot of industry in south carolina could the car manufacturers, bmw, volvo, the entire industry. before people talked about doing something with our trade deficits, but they never had consequences. and americans understand why is it fair for one country to try just 10% and for us to church to .5% had his mantra is let's do away with terrorists. with a free trade and see how it works. >> there's a lot of pain. i'm sure you've heard the call. a letter from aaron chamber of commerce talking about potential they want trade were saying it will cost south carolina jobs as manufacturers do at any business would do. general motors has warned on friday of more potential layoffs. you mentioned bmw down there. although not hiring a couple thousand workers. what you say to those workers when they lose their job. just got a take on a mission for a better trade deal. >> they know that we couldn't continue the $156 billion trade deficit with the european union with china. they think it's the right thing for the country. i tell them, let's let time go by. >> when your constituents are out of a j

and second quarter profit rose more than expected at volvo.talized on increasing truck demands and they were successful with truck orders raising 10%. and that was your bloomberg business flash. this is bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. >> 11:00 a.m. in new york, 4:00 p.m. in london, and 12:00 in hong kong. from bloomberg's european headquarters, i'm caroline hyde. >> and i'm vonnie quinn. this is the european close on bloomberg markets. caroline: and here are the top stories we are covering from the bloomberg in the world. comcast surrenders. the media giant dropping its bid for fox entertainment assets, leaving the field wide open for di

. >> i'm not giving it all away, bobby goes off to college and has a beat up volvo. ask him, he would said he has one sibling, he gets to school and quickly the pieces fall together. it turns out he has a twin brother on that campus one year prior. then what? >> then the two brothers finds each other. they celebrate. they're on the front of newspapers, particularly in the new york area. they get a call the next day, a guy says, i look just like you. i think we're tripletsp. >> and they were triplets. this wasn't happenstance, this was design they would grow up in different environments? >> yeah the film kind of explores what happens off the three of them there a united, then become famous in new york and around the world, also looks at the circumstances behind the separation as you say it wasn't just a random event. >> and may i also say in bringing this to the screen, there is a piece of this we don't know, locked away at yale university is the still story? >> absolutely, there is a treasure trophy of documents relating to the brothers and swins separated, locked aw

he picked up a girl on a date in a stolen volcan de fuego -- volvo that belonged to his ex-girlfriend found a new girlfriend, took her out last night in his new ride, yiihaw come on sweetheart. who wants beads? it takes a real cas nova to get a joh deer liter, whatever. [music playing] (vo) from the beginning, wells fargo has supported community organizations like united way, non-profits like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day. you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. add-on advantage. i just want to find a used car start at the new carfax.com show me used trucks with one owner. pretty cool. [laughs] ah... ahem.

. >> i'm knoll going to give it all away, but bobby goes off to college, driving an old beatup volvo.u had asked him, he would have said he had one sibling. he gets to school, a number of people address him by a different name, and very quickly the pieces fall together. it turns out he had a twin brother, whohood on the same campus a year prior. >> then the two brothers find each other. they celebrate, they're on the front of a lot of newspapers, particularly in the new york area. the very next day they get a call from someone who says i'm real you about you guys, and i look just like you. i think i'm the third, i think we're triplets, and they were, and this was not by happenstance, this was all by design, that they would grow up in very different environments. >> yeah. the film kind of explores what happens both after the three of them are united, they become famous in new york, around the world, but also looks at the circumstances behind the separation. as you say, it wasn't just the random event. ings. >> may i always say despite aural your work and labor bringing it to the screen

he picked up a girl on a date in a stolen volcan de fuego -- volvo that belonged to his ex-girlfriend found a new girlfriend, took her out last night in his new ride, yiihaw come on sweetheart. who wants beads? it takes a real cas nova to get a joh deer liter, whatever. we'll be right back. and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day. stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com start winning today. if yor crohn's symptoms are holding you back, and your current treatment hasn't worked well enough, it may be time for a change. ask your doctor about entyvio, the only biologic developed and approved just for uc and crohn's. entyvio works at the site of inflammation in the

one car. after reviewing surveillance video, police determined that the suspect was driving a grey volvoe plate reading cameras along nearby mowry avenue and found a grey volvo leaving the area around the time of the burglaries. after running the license plate they determined that the car was registered to phillips and that he had an extensive criminal history.sot and is currently out on bail for a crime in another city in alameda county where a firearm was used. so we knew we had a violent offender coming into our city.armani phillips was taken into custody on july 20th near his home in hayward. police say that a stolen handgun was found in his possesion at the time of the arrest. he is now being held at the santa rita jail on multiple charges.sotwe've connected him to 5 auto burglaries in our city. we think we have him on others. we found property in residence that belonged to other people. police also say that the use of license plate reading cameras was key to solving this case.sotwe are using this data to solve crimes. we are using the data to deter and stop people from coming into

but if people lose their jobs at the volvo plant, the bmw plant, i think that is more significant than the president's view is there might be disruption in the next year or so but it'll be settled before he runs. one of the so-called globalists the president listens to occasionally anthony scaramucci, he's still in contact with the president. he's a hedge fund guy in new york. his message to the president is watch it, you're approaching the danger zone. >> the escalation of the trade rhetoric is causing a loss of confidence. that's very bad for market psychological. i'm just sending up a warning flare to my friend. >> do you think the president is damaging the country in creating a trade war with our closest ally across our border? >> i would say not yet, no. i don't think any real damage has happened yet. >> but will it happen if he doesn't reverse course? >> well, i think that the market is telling you that. >> look. i mean, the president is on an island. wilbur ross is there, peter navarro is there. but in congress, republicans don't like this. this was a tweet from chuck grassley y

second quarter profit rose more than expected at sweden's volvo.ort to capitalize on increasing demand was successful. orders rose 10%. demand has led to problems getting on the production line in time. and that is the latest business flash update. vonnie: time now for our stock of the hour. falling, our co-are after the company said it took a $50 million hit from tariffs in the second order when importing materials from canadian facilities. joining us with more is taylor riggs. wow. taylor: facing some significant headwinds because of significant operations in canada and importing materials, like that $15 million hit that went into effect june 1. alcoa did also cut their full-year adjustment and issued a guidance in part because of this. now down to about $3.1 billion to the whole year, about $500 million lower than the previous forecast. the company did say the supply chain continues to face insurgencies because of these tariffs as well. some aluminum supply disruptions. but if there is a but here, not all analyst think it is as bad as the share

the man that came up with it was an engineer for volvo.ick it 56 years ago today. also on this day, ten years as, apple created the app store. do you remember that? lillian has more on that on how things changed over the years. wrong way guy. feel for him. >> this is a picture of steve jobs in 2008 with the iphone 3g. it was the first to debut at the app store fully loaded. if you bought an iphone that summer, you had access to 500 apps. now there's more than two million. that's just for the iphone. with the rise of apps have cause a cell phone's addictive quality with viral games like candy crush who has downloaded over 280 million teams. that's not the most popular. facebook is the most downloaded with 700 million downloads. so apps have the ability to do all kings of things in the paul of our hand with call a car with ride sharing services like uber or lyft or find a love of our lives with tinder or others like pokemon go. >> shepard: thank you. starting monday, i'll be anchoring a news cast on facebook watch. it will stream live after

volvo, all beat on earnings. with positive moves. the taiwan semiconductor had positive earnings.k at the losers here. see unilever after the sales forecasts. heavy stocks,n, that is going to weigh on the stoxx 600. guy: i am quite surprised to see sap down. earlier calls suggested sap would trade higher. we highlighted that earlier on in the program. there are 28 buys on the stock already. outsidehe needle to the is something that could be harder at this point in time. there is a lot to be said for that. anticipated that would be coming down the pike. at a headline level, asian stocks are mixed. the yuan, a big story out of asia. we continue to see declines. the pboc will get in the way of that. is the global head of strategy solutions at socgen. europe is quite unloved from a stocks point of view. flows, the look at money seems to be suggesting people are leaving europe. the underlying performance out of most european companies is not that bad. sap delivered some good numbers this morning. you are not seeing the relative coming from ceos and cfos being reflected into the market

i think howard dean should take his tax-hiking, government-expanding, latte-drinking, sushi-ting, volvo-drivingk times"-reading... - bodyloiercing, hollywoong, left-wing freak show back to vermont, where it belongs. - a lot of negative stuff came out at dean at the time, because he was the front-runner, and the other campaigns began to coordinate their attacks on him, and that took its toll. wh - and there are thoswake up every morning determined to destroy western civilization. americans want a president who can face the dangers ahead. but howard dean has no military or foreign policy experience. and howard dean just cannot compete with george bush on foreign policy. politics is a substitute for war. you're not gonna meet the garden club when you're running for president of the unid states. you're gonna meet some people who 400 years ago would have cheerfully taken your life. - unfortunately, there's only one target worth killing on the planet, and his name is howard dean. - ladies and gentlemen, we got him. [cers and applause] - i was giving a big foreign policy speech in los angeles, and he

representatives for volvo declined to comment.nalysts are raising new questions about the future of tesla after it asked suppliers to give back some cash. elon musk insist the new model three will pull his money loser into the black but others say this could be a sign that something has gone wrong. tesla has spent billions trying to ramp up production and the second-quarter numbers could be disappointing. goldman sachs has on was the number of women on its senior governing body. david sullivan begins to shake up the leadership team. the strategy chief joined the management committee along with another woman that leads the investment banking division. sheila patel come ahead of the international asset management business and lauren stein are also on the board. ubs has posted second-quarter net income of 1.28 billion swiss francs. the biggest report in switzerland also reported net new money outflow of 1.2 billion francs. you our interview with the ceo, sergio ermotti. that is your bloomberg business flash. let us talk about alphabe

volvo opened up a plant just outside charleston last month.is fall. threats to global trade would absolutely affect exportation plans. and that south carolina plant could employ up to 4,000 people. half of those employees would make cars for export and fewer exports means fewer jobs. it is worth noting, willie, oval cars is owned by chinese automaker giley. >> dominic chu wrapping it up for it. thank you. >>> still ahead, president obama knows who he would like to face in the 2020 election. the guy who once said he would like to take him behind the gym and fight if they were in high school. so, i have this recurring dream. i'm 85 years old in a job where i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want t

how much are volvo shares wort

you also are seeing comments volvo,guar land rover, and others.s is a widespread amount of pushback being levied at this investigation. trudelll right, craig in detroit. thank you very much. still ahead, shanghai stocks saw their weakest close in more than two years as the yuan continued to lose ground. analysts expect the pessimism to prevail. this is bloomberg. ♪ yvonne: it is 7:30 a.m., tuesday in hong kong. hong kong returning from the holiday here today, potentially catching this rebound in wall street. a down day in chinese markets yesterday. ramy: that's right. interesting to see what happens, if they manage to miss that negativity for the first day. in new york,monday where markets closed up by .3%. that is a session high despite what we saw, a bloodbath from asia to europe. we thought we would catch that as well, but it turns out we didn't. i am ramy inocencio in new york. yvonne: i am yvonne man in hong kong. you are watching "daybreak asia ." first word news with jessica summers. jessica: the trump administration says it is premature to

i talked that workers had an auto plant in dublin making volvo trucks and they were complaining about raised costs on steel and aluminum hurting their sit -- sales. we need to stop the trade war that is hurting american farmers and hurting american workers. filing cases against china for their violation of intellectual property, that is good. i think the president is right to focus on china as an issue but using sanctions against canada, europe? using national security waivers against nations whose troops are fighting side-by-side with hours is painful. our economy would be better if we stop this trade war against american workers and farmers. judy: could you address the fact that so much of this corporate tax cut is going into profits and stock ibex rather than higher wages? thinkor kaine seems to everything was fine before president trump came to office. i go to danville, boarded up shops. i see places where young people have left. the people who remain are struggling. out ofate addiction control. i see suicide rates jumping up. why? fundamentally it is because we have so little eco

that does not help the workers in the plants, at the volvo plant in dublin who are seeing , prices go up. the assessment of what this president is doing just on aluminum and steel, and the retaliation, 30,000 jobs will be created in certain industries and we will lose 430,000 jobs. the president is waging a trade war against americans, against american workers and farmers. and further the president is , using a national security waiver, not just against china. we used a national security waiver in the past against nations like iran and libya, he is using it against canada, europe, nations that have fought with us side-by-side in every war since the war of 1812. this president is the first and these are nations we are relying on to help us beat isis, nations we are supposed to work with two -- to defeat russian aggression. mr. stewart: what is his answer? do nothing. the only thing he has done is a vote against the president. he is against the president. he does not want to do anything about it. we have these unfair trade agreements that are gutting american manufacturing in danville,

it's like volvo.surance and everything else you need. >> it's interesting. i interviewed the ceo of uber a couple of months ago and they were introducing their flying taxis. i'm curious while these companies are developing the technology, the demand is not quite there yet. what do they see consumers don't see? >> there's not only demand. there's fear. americans are afraid of this technology, they don't want to drive themselves. ultimately it will be so safe people will change mary minds. uber can take the person out of the car. they not only get it a lot cheaper but get rid of the risks of background checks and things like that. some of the bigger problems. >> those are all jobs. to replace them with rowboats, that changes how people are making a dollar. >> it does. >> thanks for that. >>> our series "a more perfect union" shows us what unites is far greater than divides us. we went to new jersey to meet shirley johnson and carolyn grace and the younger residents. they're both inspiring. >> everybody

they took pughús black volvo ...t make up his mind where he wanted to take her. they ended up at this airport-area gas station.faith could i go in the gas station for him to get him a cigar?" turns out that was a mistake. no sooner had she left... faith pugh/victim: "he just drove off. i came outside and my car was gone."her mother picked her up, and then she got a surprising message from her god sister. the same man who had just stolen her car ... had asked her god sister out. faith pugh/victim: "i said, úokay, well send me the address to where you at and iúm on my way and tell him to come on.'"they used the gps-tracking on her phone to tail him ... faith pugh/victim: "running red lights, stop signs."all the way to this drive-in theater ... where they say they find griffn in pugh's stolen car with her god sister ... on another date.faith pugh/victim: "he, then he let her drive, so she drove him to the drive-in. he didnút even have any money. she actually paid their way to get in the drive-in just so i could get my c

volvo is another one the buick envision is the biggest volume vehicle coming from china, more than 41,000t will do with the 25% tariff clearly adding $8,000 to the sticker price of an envision is not palatable in a buick showroom, guys so they're going to have to make a decision do they decontent it, do they eat some of the cost, how will they deal with this? >> phil lebeau in chicago for us and as phil was suggesting gm isolating businesses from the global market is the worst possible course of action. >> and our next guest couldn't agree more now as president of rml automotive knows how tariffs will impact dealers and consumers. he joins us now. what do you think of these moves by the president and the retaliatory tariffs that we're getting from china >> well, i heard your reference to fleetwood mack, and i'm reminded of "i'm still afraid," a great song because nobody knows what can come out of a trade war. the outcomes are normally bad, nothing good and in this case it's really not merited based on the current situation of the u.s. auto try t pressure on china. i don't see how that's g

we've seen volvo say they may be leaving south carolina.hat doesn't help any of your constituents. >> yeah, but you know, in particularly soy beans. china is not-- they're hitting us where they know it hurts and farmers are feeling the pinch as the bmw's of the world, boeings, one is in south carolina, long-term, i think it's good for the country and he's not doing it-- he mentioned 400 billion in tariffs, it's down to 30 billion. and this president is, i think, making the right moves for country and look at the jobs he's producing. look at new core steel ramping up steel production and as did he with samsung on tariffs, he gave him to ramp up production and i think he'll do that with the different products we're making. >> what do you tell voters feeling the pain? are you telling them it's short-term for long-term gain? what do you say when they say listen, we're not going to be able to afford to keep this up. >> i had a steel manufacturer call me last night and i don't know the time frame and he agreed this should have been done decades a

let's get to 0%, because it will disrupt the growth trajectory of the a lot of companies, including volvoubaru, those companies trying to gain market share in the united states. they will be unwound by those tariffs. jason: i want to ask you about this sort of -- how tied together the auto industry is and how global it is. i think about the southeastern united states and how much car manufacturing there is on the part of european carmakers. you look at south carolina, alabama, georgia -- what are the implications of that and the tariffs all strung together? kevin: you look at the move toward globalization and of those other factors are a result of the chicken tax, where european automakers have to bring their light truck capacity to the netted states to avoid that tax. but their car capacity really is still outside of the united states. and if you look at somebody like, you know, the big three of the year being premium brands, bmw, mercedes and vw with their portion and audie brands, both log and probably has the least -- vw probably has the least amount of capacity, where bmw and mercede

we reached out to volvo and it has not commented.ly with the buick envision that is the most popular vehicle sold over here in terms of built in china and shipped over here they've got three and a half, four weeks before some of those vehicles are in showrooms and then they have to make a decision the ones that are there right now year not going to see a price change on those because they've been in the country for some time. they go into effect at 12:01 eastern time >> the european auto makers some of the best in the world and we often talk about how china in multiple cases play catch up with the u.s. whether in tech or elsewhere what's the status of the domestic chinese auto makers will we see consumers stomach a bit of the price increase of foreign cars or are there alternatives >> there are alternatives and they're becoming much more competitive. ten years ago you would say a foreign brand is more competitive, and that's not the case anymore they still like those foreign brands but the domestic brands have really improved in qual

only three imported right now from china the cadillac the buick envision as well as a volvo the envisionors is assessing how to handle the tariffs because they have other things to keep in mind in terms of steel tariffs, et cetera whether or not they pass the cost to customers or eat it that remains to be seen and that really is the bottom line when you look at shares of general motors and really all of the auto makers they're in a two to three to four week window the vehicles aren't in show rooms yet but will be in a few weeks. that's when we find out how the auto makers deal with it the costs. >> phil lebeau in china thank you. >>> how will the trade tariffs and uncertainty impact the markets. as investors set sights on earnings will the earnings be able to keep the rally going or will trade wars dampen that rally? joining sus cnbc contributor ron and sand awe have lindsey ball the strategist and bob pisani joining from us the stock exchange earnings get under way next woke nobody is expecting results affected yet but it will be interesting to hear what forward guidance has to say in i

volvo no longer plans to hire 1000 workers in south carolina. the u.s. chamber of commerce is warning that you .6 million jobs are at risk. hard-working americans are already suffering as a result of the retaliatory tariffs provoked by the ensuing economic uncertainty caused by this president. moreover, this trade war comes at a time when our deficit has ballooned due to the republican tax law which has been nothing more than a giveaway to very wealthy individuals, wall street banks and big corporation. i look forward to bring secretary mnuchin address the impact of this administration policies are having and will have on small businesses and consumers, and i get back the balance of my time. >> that chair never recognizese gentlelady from wisconsin, ranking member ranking member of the monitor policy and trade subcommittee for two minutes. >> thank you so much, mr. chairman. and i want to welcome secretary mnuchin back to the committee. aci appreciate your reply to my letter that i sent on may 17 17h picky replied just recently. the letter was related to

second-quarter profit rose more than expected for volvo. 10%,ruck orders rose soaring 63% in north america led to problems getting components. business, the cloud paying off. a german software giant raises the outlook for this year and next. sap cited accelerating cloud sales and booking rose faster in the second quarter. we spoke with the cfo. >> we have a great amount of gas in the tank to accelerate, actually one of the reasons we have even raised the 2020 ambition and a cloud -- in the cloud up to 7 billion euros, is the momentum we have from this broad portfolio. we believe we will not stop in terms of growing in 2020, we will consistently continue that march past. taylor: that is your bloomberg business flash. nejra: thanks. the effects of the trade war being felt this earnings season. the biggest aluminum producer in america has cut the 2018 profit forecast due to the impacts of tariffs. japan won't take the same approach to handling u.s. tariffs on cars that it took for steel and aluminum tariffs. the damage would be huge, to not only the japanese economy but to the u.s. and global

it seems like the president has gotten really hot or upset about german cars, which represent 4% of volvold in the united states every year. it's worth pointing out bmw is a net exporter. bmw pointed out that it lowered the u.s. trade deficit by a billion dollars because it's a net exporter car adults in south carolina. >> something that has to be said of attack about fairness in the office at her. they are much higher. we are protecting that in this tree. you can't talk about what we are doing, what happens with cars without talking about trucks. we're protecting not as much as europeans. dagen: i said it yesterday. it is just not right to say that the playing field is on balance without talking about how we protect our road. maria: she reminds us all the time. dagen: annoyingly. >> the president said you're in the union is smaller than china. it's not right. maria: europeans could be worse than china. >> their market is much bigger. that's the point i wanted to make. the economy is much bigger than the chinese economy. right now it's about the size of our economy. maria: jacobin thank y

multinational company sets up shop in a different country, just like toyota sets up shop here, or volvoord sets up shop in china. they will hire the best people they can, sometimes they bring their own, what we see in the u.s. is that foreign owned multinationals are a large ,mployer of american workers foreign multinationals in the u.s. tend to pay higher wages and better benefits on average, they are a big driver of economic job growth and productivity and innovation. overall, that is what we found. to your point about mexican wages, it has definitely been in the news a lot. i do not think the u.s. government should be telling other countries how to set their own wages. it's always best when the market determines prices, whether it's ,he price of labor, hospitals and other services. mexican wages have increased over the years as mexico's economy develops. atanother country is better doing something, then they should be doing it, just like we are better at doing certain things and we are doing those things. host: what do you think the best outcome would be from the ongoing nafta renego