i'm david westin. continue our global tour of the week's top stories in silicon valley, where elon musk insists he has financial backing to take tesla private. the devil, of course, is in the details. selina: elon musk is elaborating on what sparked his move to take tesla private. the electric carmaker's ceo said the key to the gambit was the interest shown by saudi arabia's sovereign wealth fund. the fund recently bought a 5% stake. elon said he is continuing talks with the saudi fund and is talking to other large shareholders. do we have any idea who the large shareholders are and how far along these talks are? max: no. no, we have no idea about anything, in fact, and even with the information that came out this morning from elon musk's blog post, there is a wide range of possibility that could've happened. i mean, we know there was some kind of concrete conversation in between the saudis and elon musk. i believe on july 31, we don't know if they talked about price. the blog post said there was due d

i am david westin. sherry: i am shery ahn. david: yes, you are.news, the senate committee has released some documents now that judge and theyis nominated have a lot of documents he has generated in government. they have released some of the documents and there is a dispute on the hill whether they asked for enough documents, including his time when he was working under george w. bush. once again, we do not know what is in the documents that have been released. speaking of law, we will turn to the investigation of the president and robert mueller. president trump's lawyers have given their written response to the request for an interview. we do not know what is in it that the president thinks the investigation should be wrapped up with labor day, with or without an interview with the president. we visit an expert in white isi,inal law, caroline pol whose practice includes representing clients in a wide range of prosecutions and investigations. from the prosecutor's point of view, can they complete this investigation without interview from president

david: i am david westin.rump called the official bruce ohr a disgrace and asked about his secret declared, the president said i suspect i will be taking away very quickly. for him to be the justice department and doing what he did is a disgrace. president trump: i say it again, that whole situation is a rate which had to -- rigged witchhunt. they should be looking at the other side, looking at the people who got fired live them, they should be looking at bruce ohr and his wife, for dealing indirectly with russians. they should be looking at steele and all of the fbi guys who got fired and demoted. it is not as. -- us. ohr work for using gps. -- use an -- fusion gps. he defended his decision to script john brennan of his security clout -- clearance and said i have never had a lot of respect for him. turkey could be in for more turmoil as a appeals court refused to release a press -- a pastor. the trump administration has a threat to impose more sanctions if he was not released quickly. the president called him

i am david westin. shery: i am shery ahn.down a quarter percent while the s&p 500 is essentially flat after four sessions of gains. we have mega cap tech shares gaining ground, but china this morning saying it would retaliate once the u.s. imposes additional sanctions. the nasdaq goes flat after seven sessions of gains. david: first word news, we turn to mark crumpton. mark: china is making good on its threat to retaliate for u.s. tariffs. 29% the duties on another $16 billion of u.s. goods immediately after tariffs take affect. the trump administration announced it would impose tariffs on another $16 billion starting august 23. theresa may is stepping up preparations in case brexit talks break down. she plans to little meeting of our cabin a members to discuss a no deal brexit. there are also senior officials that will come up with ways to keep the irish borders free of custom checks and police if there is no agreement. malaysia, the former prime minister has pleaded not guilty to money laundering charges. he has already ple

david: i'm david westin. trump reportedly telling donors he expected jay powell to be a cheap money chairman, but now he is disappointed because he is raising rates. we take a look at the president and his threat. feels like more of the same. >> he said last month on television this, and he is pretty much repeating himself by saying he wants cheaper money. the problem is this can backfire, because when the markets sense the fed is coming under pressure from the president, they worry that inflation could get out of control, and the rates go up. the vigilantes, in and -- come in and start dictating the money. david: we saw the dollar weakening right away, so the markets are reacting already. peter: alternatively, powell might feel like he has to raise rates faster than he might've otherwise. so it can backfire. shery: we have not really seeing the chairman being vocal against the president, or anything so far. how good this struggle between the two of them develop? peter: i would not call it a struggle yet. the

. ♪ david westin it is noon -- david: from new york, i am david westin. shery: i am shery ahn. loomberg markets: balance of power with the focus on the intersection of politics and the economy. cold war with china -- david: cold war with china, aging says the pressure is more than about trade, is this the beginning of a struggle between the united states and china for global leadership? merkel hosts vladimir putin in berlin tomorrow as the rivals are brought together by president trump. running red in a blue state, we talk with covers woman mimi walters about her battle to hold onto her seat and whether president trump will help her or hurt her. shery: a small part of a much larger plan, the thought in beijing for the trade war with the u.s. is leading to soul-searching as china suspects hidd

david: i am david westin.sident trump said don mcgahn will leave in the fall assuming brett kavanaugh is confirmed to the supreme court. we welcome our executive editor. this is the big one. he spent 30 hours with the special counsel. >> this has been anticipated for some time, the open secret in washington that don mcgahn was eager to get the second supreme court justice through the process and time for him to go. he has been there a respectable time. it is time for him to move on. he and the president had a cool relationship for some time. david: there is the mueller investigation at the same time. what does it mean to change out the legal team? there has been change is already. >> don mcgahn is the white house chief counsel, separate from his personal lawyer. open the doory for another of his personal lawyers to step into this post. from the coverage so far from the washington post specifically, don mcgahn did not know this was coming. not that he was not planning to president perhaps the getting ready to s

i'm david westin. shery: let's get a quick check of the averages. the dow up 1.7%.e being not only strong results out of a march, boosting the stoxx. also may be signs that trade tensions to be easing. a chinese delegation coming to the u.s. to hold low-level trade talks. mining, commodities also rebounding. the s&p 500 also rising. food retails starring today. tell: the american people us time and again the education is at the top of her list of priorities. withi sat down recently ken langone, i asked him what was wrong with applicant education and the united dates today. >> you start by encouraging kids that inside each of them is a something good, something valuable, and something that deserves to be developed. it -- we havelike a charter school and people say, their school programs and all this in the other thing and then they say, you have to understand, these kids start at a disadvantage paradise they guess what? if you acknowledge that, you have to do more to make up for what they don't have at home. don't use it as an excuse. use it as a reason to extend you

bloomberg's ote, david westin will sit down with buffet on thursday at 8:30 a.m. pacific. you don't want to miss it. coming up, amazon take over of whole foods this year has been slow and steady. now, how the partnership is mpacting other gro impacting other grocery stores nationwide. we'll discuss, next. >>> and apple is trickling down ions hone 10 what next vers will look like. we've got the sc. we've got the scoop. this is bloomberg. we've got the. this is bloomberg. >> in just a year, amazon was ets whole food shopper deals traditional grocers are impact. feel an and what did this study find? studies.are two first by a company called tab er lytics says the numb this year up 1% interest last year. they said whole foods gained 3.5% of shoppers also going to rader joe's when trader joe's and whole foods were in a mile of each other. tell us a lot. and the stores are full and picked over. maybe more challenges inventory management but amazon seems to be having success. >> let me tell you trader joe's stores are very full. what has amazon added to whole foods? we talk about

david: i'm david westin along with alix steel. i'm looking at best buy.er share from $.79, the estimate $.81, lower than expected. mp store sales is up, exceeding what expected. alix: third-quarter adjusted earnings is lower than the estimate, but the final guidance for 2019, they boosted.

i'm david westin with julie hyman. alix steel is off today. e with you -- julie: good to be with you, filling in for alix. let's look back at the week with major assets. the s&p 500 up a quarter percent on the week, so tepid performance from the s&p. and flirting with record levels a couple of times. but never quite getting there on a closing basis. we also saw positive performance for european stocks. bouncing back from three weeks of decline. really notable week for crude oil process -- crude oil prices, up for the first time in eight weeks. and also, seeing the longest run of weekly losses since 2015 anded by lower stockpiles the lower u.s. dollar, down week, so an the flipping of the script of what we have seen recently. unlike what we have seen, the dollar down and crude oil up along with many of the other commodities, which have been bouncing from their lows of the session. i wanted to check on european banks because it is an interesting story out. the report out that unicredit had hired an advisor for a possible merger. the deal was rumo

buffett sat down with david westin.nd i'm buying because i believe they will be worth more money in 10 years or 10 years -- 10 years or 20 years. i don't know if they will go up or down in the next few days, but i know they are good investments. the alternative for most people is fixed income. you get 3.02% for 30 years. which are rather invest in a company earning 15 or 20% on their invested capital and compounded words rather have a 3% bond which can never get more than 3% bond while you on it. >> some stocks are bargains, good bargains from your point of view. when the markets are this high, that means markets have gone up quite a bit. don't we have to have more fear in the marketplace before you deploy that cash? that makeeates prices me want to shove out a lot of money as fast as i can. we have been shoveling of money and it is not as attractive as buying into doesn't eight in -- in 2008 in 2009. -- and 2009. you can't sit around to wait for it. you will never catch the bottom and everyone will be terrified of the

westin.'m david for bloomberg first word news, we turn to mark crumpton.ong aftershock jolted venezuela's northeastern coast today following the most powerful earthquake to hit the area in more than a century. officials say neither caused major damage or deaths. apparently due to their depth. experts have warned venezuela's government is ill-prepared to deal with a major natural disaster. representative's office is downplaying speculation that a nafta deal with mexico is imminent. officials say there is still major issues to be resolved. mexico's economy minister says he is helping to resolve nafta issues and the next hours or days. russian president vladimir putin is are pitting his claim that economic sanctions imposed against his country by the u.s. are "senseless." speaking after talks today with his finished counterpart, president putin described the last months summit with president trump is positive, but he blamed mr. trump's administration for continuing to hit russia with sanctions. the white house added to a growing list of sanctions against russ

david: i am david westin alongside alix steel.he the second of were $.41 and it was also $.39, so it is a bit on that, and $656 million as million.o $658 great earnings from them after they had some disappointing once earlier. alix: that is one i'm watching, too. alcohol trades. david: is jack daniels, i am sorry, so let's get serious. it is burdened. i actually like -- bourbon. i actually like malt. but would reserve is a very good burden. alix: american eagle on what they have to say about the earnings report. comp sales coming in stronger learning that $.34 a share, however, that stock is down by about 4%. it looks like they downgraded their third-quarter earnings forecast. the estimate was for $.49. or kind of slight miss disappointment really get hit quite hard. and the american eagle now falling short. in the markets, we are sitting right at record highs. the s&p pretty much flat on the day. euro-dollar a little downside, down .3% on the dollar. bottomed? are there any more upsides to be had after two weeks of coming off tho

david: i'm david westin along with alix steel. i'm looking at best buy. best buy having adjusted earnings per share from $.79, the estimate $.81, lower than expected. mp store sales is up, exceeding what expected. alix: third-quarter adjusted earnings is lower than the estimate, but the final guidance for 2019, they boosted. maybe a little weakness on the margin versus what they expected for this particular quarter. next year, they are boosting their forecast. david: you have the basic issues, cop store sales. on the other hand, the other question was their margins, how they are doing costs. we will see how that is reflected in earnings per share. alix: not liking that third-quarter outlook, down 6%. you could argue it was a little high going in because walmart and target had been better. apples better-than-expected third-quarter results could have also been weighing on best buy. david: they exceeded -- compions on, store store sales, two different stories. alix: fx is now 7%. david: still exceeded expectations. alix: absolutely. all that mixing into the

i am david westin. welcome to "bloomberg markets balance of power" with a focus on the intersection of politics and the economy. david: playing hardball. toe to toerump going over the fate of an american pastor. the turkish economy pays the price. with or without him. with november elections looming, the president trump hurt or help republican candidates in blue states? and, scared stiff. that is how president trump describes his attorney general, who he says is missing in action. why jeff sessions is still in charge at the justice department. ♪ david: turkey pushed to the brink. it lost about a quarter of its value against the u.s. dollar since the u.s. sanctions two turkish ministers over an american pastor. on friday, president trump

i am david westin with alix steel.dollar stores, the markets are going up and up and up. alix: president trump saying, hey, look at your 401(k), it is great. today, a pause in the record rally we have seen over the last few days. as a be futures now down by about five points. .1%.dollar down by also not helping is the german august inflation slowing to 1.9% . the median estimate was 2.1%. saxony inflation and spanish inflation also slowing and missing estimates. not an enormous change, still trading around 2%. but a little slower than expected, and that will not be helpful to the euro today. will be interesting to see whether we are going the same way as europe or whether there is a divergence in inflation between the two. alix: totally right. good tease. david: let's see what is making headlines outside the business world. kailey: the european union going to scrap tariffs going to scrap tariffs on all industrial products, including cars, entry trade talks with the u.s. eu's trade chief made the offer and remarks to th

i am david westin, back with alix steel. g still coming out and the s&p trading right around a record. $91 million in market cap. just yesterday, tesla made up $7 billion of that. david: the most valuable tweet ever. alix: the dollar-yen lower by 2/10 of 1%. -- saw potentially a 25 basis point banned for the long end of the curve meaning the boj starts to normalize, a substantial risk for the upside of the yen. the three-year was kind of machine and the yield was kind of high and crude off by a full one percentage point despite good trade data out of china. will speak in roanoke, virginia. l 1:00 this afternoon, the united states is set to spell -- set to sell $26 billion in 2018 notes. at 4:00 this afternoon, 21st century fox releases its earnings after the disney earnings yesterday. alix: tesla taking the spotlight after elon musk tweeting he wants to take the company private. what is the reality of that with dwightught up stone -- dwight scott of blackstone. lbo, the first word being leverage, it is hard to put leverage on

ahead, david westin's joined tonight by the ceo of home depot, and why he is worried about presidentrade tactics. this is bloomberg. ♪ >> this is bloomberg markets. >> it's time now for a bloomberg exclusive, in the latest episode of big decisions, david westin speaks with home depot cofounder, ken langone, he talks about the crippling debt crisis in the u.s. and why he is worried about the president straight step -- trade strategy. >> i'm bothered by the spending. i'm very bothered by the spending. at some point the grim reaper shows up. we cannot suffer trillions of dollars in debt, there's no way to drive -- to rationalize that it's ok to have this kind of debt. at some point we will pay the price. >> what about trade? >> if this is a ploy, god bless him. >> if it's not? >> if you believe tariffs are 30's -- go back to the 1930's. it does not work. if he is a passionate believer, , andt's in and of itself if he's a passionate believer he will pay a price. inmight not get reelected 20? >> that was ken langone, you can watch the full exclusive interview tonight on big decisions, at

david: i am david mcintosh and welcome to -- david westin.bloomberg markets: balance of power. shery: the canadian foreign minister is in washington trying to hammer out a deal after the u.s. and mexico struck a bilateral agreement. she says there is a lot of work to be done this week. a shopper in florida as the bernie sanders aligned candidate wednesday primary for governor. push by donald trump wins their primary. president trump says counsel don mcgann will depart this fall, what it means for the president's ability to fight the mueller probe. david: we got u.s. gdp growth numbers and heard from the canadian foreign minis

i am david westin. sheri: i am shery ahn. welcome to bloomberg's markets. ories we are watching. your turn, mr. trump. --key imposes imports tariffs on imports from the united states as he looks to counter president trump's pressure. seems to renew sanctions. the goal the united states is trying to achieve. borrowing more but paying it back. u.s. household debt is at a record high. the question is whether this is a sign of economic strength or a problem on the horizon. sheri: turkey taking a bold step in the latest attempt to ward off an economic collapse.

david: i'm david westin. welcome to bloomberg's "balance of power."re are the top stories we are wanting. presidentews, the said to complain that jerome powell has been a chief money fed chair. more on that in moments. decoding the chama rod -- decoding the drama around paul manafort and michael cohen, the latest legal hurdles facing the president. and one of the top democratic targets in the fight for the senate. we will speak with republican kelli ward on how she plans to keep the senate under republican control. ♪ shery: back to the breaking news, president trump complaining about the fed chairman raising rates. the president making the comments at a fundraiser for gop donors in the hamptons. joining us now from washington with the latest,

caroline: that was david westin with warren buffett.nvestors are what is next as stocks continue to trade higher. this is bloomberg. ♪ lisa: we have some breaking news coming out on china-u.s. relations. trump is reportedly willing to back $200 billion in tariffs on chinese goods as early as next week. that would be the biggest yet in the u.s.-china trade war. the final trump decision on the $200 million of tariffs are still pending, but this could be an announcement made as early as next week. we are seeing some market reaction, particularly with caterpillar shelters -- shares and boeing dropping as well. so definitely something people are watching. caroline: let's get someone who is watching. kate warren, your initial take of the fact that $200 billion of tariffs could be thrown upon in trump's eyesight. what does this mean to the record highs we have been seeing on the s&p 500? kate: opposing additional tariffs on goods from china is not good news from the market -- for the market, but it is not unexpected. we have had a lot of annou

i am david westin. tory: welcome to share it -- bloomberg markets, balance of power. are the top stories. packing the election. washington may still be debating what happened with the last one, we talk with the house intelligence committee about it. the trump administration proposed sweeping new powerplant rules. almost heaven west virginia. president trump chose to the heart of coal country to rally his base to turn a blue seat red. ♪ shery: president trump taking for the draymond president obama's legacy on climate change. a plan that would dramatic way

from new york, i am david westin.e the step forward and two steps back, the united states and china at least talking about trade but not doing tariffs on other $15 billion of goods and u.s. looking at $200 billion. who swap is it -- president trump says he is drained the swamp the with two former aides convicted and more cases on the way, will voters all the republicans responsible come november? he is spending millions on a campaign to impeach trump but democrats fear raising the issue in the midterm could cost them the house. we talked to tom steyer. ♪ we have president trump right now

along with i'm david westin. welcome to bloomberg's "balance of power."s at the intersection of politics and the economy. here are the top stories we are watching. the clock ticking on canada as both sides expressed optimism. and it's a lasting legacy of the financial crisis the presidency of donald trump? we will explore that question. and we will hear from berkshire hathaway's ceo, warren buffett, what he says about health care, apple and the state of politics today. ♪ shery: countdown to nafta, the u.s. stressing its self-imposed deadlines for a deal tomorrow as negotiations continue. president trump showing signs of optimism and canadian officials say that the u.s. is showing a willingness to reach a deal. here to discuss is michael

i am david westin. sherry: i am shery ahn, welcome to bloomberg markets, balance of power.tum, democrats look to build off of a tight election in ohio, which is an uneasy win for republicans. will they need to change strategies before november? is slamming the sanctions, but congress is .onsidering more a nafta deal on the horizon. mexican ministers -- administers are negotiating a deal in washington on cars this week but what happens when canada comes back to the table? david: the battle for the house is coming into focus with the latest primaries held last tuesday and special election ohio

am david westin alix steel is off. alibaba short on earnings. 61% as thenue company's investments, which took down its bottom line, started to pay off. 804 yuan. the shares took a sharp leg down. now recovering. we will talk more about it. back, they looking revenue.billion yuan last quarter it was 50 billion. most american companies, that is pretty good news. julie: especially for a company of alibaba's size. some of the other markets, s&p range, as ouright markets globally this morning. an enormousseen amount of movements among major markets. so a tight trading range. not to currencies. the bank of russia has halted purchases currency as part of , trying torule increase the predictability of actions by monetary authorities. this could signal a rate action at some point in the future from the bank of russia. we also have movement in the south african rand after donald aump inserted himself into debate about land repatriation from white landowners in south africa, a legacy of apartheid. the dollar rising against the ra

. >> from bloomberg's world headquarters right here in new york, i'm david westin. 'm shery ahn. welcome to the intersection of politics and the economy. david: the art of undoing the deal, the united states discloses a new round of economic sanctions on iran as part of president trump's efforts to renegotiate the nuclear deal. the iranians say they have a deal and the u.s. is trying to renege. won't back down, president trump says his tariffs on china are working big time. but china says it is ready for a protracted trade war. california burning. as wildfires sweep the state, the trump administration says it should tolerate more greenhouse gases coming from autos. we talk with the trade general about what his governor calls stupidity. ♪ david: tariffs are working big time, that was president trump's

david: i am david westin.k: turkey is taking its boldest steps yet to ward off a financial crisis. regulators made it harder for traders to bet against the lira and rules have been eased on serving restructured loans. the president stepped up his dispute with the united states. tariff on amposed a wide range of american made products over the detention of an american pastor. his attorney spoke with bloomberg. >> he is happy with the u.s. defending his rights but he is not happy with becoming the focal point of all this economic and political spat. once we go home, he wishes no harm on either u.s. or turkey and wants this to come to an end. mark: a court in turkey is considering his appeal. italian prosecutors are increasing -- focusing their investigation into the genoa highway bridge collapse on possible design flaws or inadequate maintenance. at least 37 people were killed when a huge stretch of the bridge collapsed, sending more than 30 cars plunging 150 feet. the bridge built in 1967 was long due for an up

. ♪ david: i am david westin.the hour in september last year, the largest meat company in the u.s. climbing more than 5% earlier in the session. gains following a better-than-expected earnings report. here with more, whether investors like it. quarter, bought in andore beef and demand rose the costs fell and take a look at the bloomberg here. i have a shot here which shows margins were better any see that compared to the blue is the pork. one dollar 50 last quarter, $.12 over the consensus estimate. the flipside is pork and chicken sales were down and flat, seen as an excess supplier. >> this is what i don't get. they came out and said there would be trade problems. they may come up with the earnings and savings part of exports. is this hurting or helping? >> or seems to be a little confusion. the problem is with pork and by --n hit, you will see once they came out with the profit warning last week, the earnings in the last quarter were better. >> but all in all, they are doing pretty well. >> the makeup in the st

david westin is off. welcome to bloomberg markets: balance of power. here are the top stories.en the u.s. and canada as the clock ticks, the canadian foreign minister says she is looking for a good deal, not just any deal. president trump pushes potential changes to the capital gains tax structure, telling bloomberg he may index it to inflation. president trump: i am thinking about it. a lot of people love it and some people do not. shery: more legal twists surrounding president trump, a former ally to paul manafort has agreed to corporate with u.s. prosecutors. we will break down implications. ♪ shery: let's get straight to the news about sam patten, the paul manafort ally who

i'm kevinevin: cirilli, in for david westin. shery: china promises retaliation on any tariffs.n of the white house council of economic advisers under president obama. ♪ shery: president trump backing down on china. white house cefco

i am shery ahn. , d c, irom washington am kevin cirilli in for david westin.erg balance of power. turmoil, the in lira plunges as president trump announces he is doubling tariffs on turkish steel and aluminum. turkey says there is an economic war. prosecutors expect to rest their case in the financial fraud trial of president trump's former campaign manager. a wave of primaries are on deck next week. democrats look to close in on republican held districts while the gop looks to get on the same message. turkey takes another hit. tensions with the u.s. are escalating while the euro -- lira surpasses the argentinian currency as tht

. ♪ david: i'm david westin. balance ofome to power. here are the top stories., voting underway in five states today. republicans are pulling out all the stops. can the gop hold on to the seats they have held onto three decades. nearly tookan that an incumbent in missouri last ofr, his new bid for mayor kansas city, missouri. president trump says anyone doing business with the islamic republic will not be doing business with america. brendan boyle waves in -- ways in -- weighs in. ♪

tomorrow on bloomberg, david westin interviews berkshire hathaway ceo warren buffett. this is bloomberg. ♪ taylor: that is some of our reporting streaming on twitter. romaine: this is bloomberg markets. it is time for a bloomberg business flash. a look at some of the biggest business stories. shares of dick's sporting goods are falling. another quarter of slumping sales since ending sales of assault style rivals in february. it also says it experienced significant decline in under armour products. under armour shares are also trading lower. amazon and google parent out of that -- morgan stanley bumped its price for amazon by 1%. it is higher than any other of the analysts surveyed. morgan stanley sees amazon's cloud services as catalysts. a stark warning from deutsche bank president. he says european banks need to bulk up or die. predicting that increased requirements will overwhelm many banks and forced them to consolidate. he addressed speculation that deutsche bank may be interested in a tie up with commerzbank. that is your bloomberg business flash. taylor: still a

i'm david westin.ict that voted for hillary clinton in 2016 but sent a republican representative to congress once again. debbie mucarsel-powell is looking to change that. she is challenging republican carlos cabello. now to the program. where you sit right now, what issues are the voters relying on to vote for you or your opponent? debbie: thank you. i'm an immigrant. i came from ecuador with my mother and sisters. she brought is looking for opportunities to better our lives. is because of those opportunities i'm able to run in one of the most contested districts in the country. i have dedicated my life. fiu. associate dean at we bring health care access to some of the most vulnerable areas of miami. it is one of the reasons i decided to run. as i talk to families across the district, it is their top concern. health care is becoming more costly. they can afford to get the care they need. they don't have enough access to community health care clinics around the district. that is the top issue in my comm

david: i am david westin. welcome to "bloomberg markets: balance of power."goes after michael cohen as his former lawyer pleads guilty. >> it was a federal prosecutors who proved the statement that donald trump coordinated and the dated -- and dictated to michael cohen that he make those payments to these women. shery: how has the legal drama changed the upcoming midterm elections? will democrats try to paint republicans as a party of corruption? the fight to keep america's elections free of foreign hackers, we will speak to in a mama them fishel -- speak to a former obama official who says the government has been dropping the ball for years. ♪ david: news yesterday that two former trump aids were convicted of felonies rattle

. ♪ ♪ from bloomberg's world headquarters here in new york, i'm david westin. shery: i'm shery ahn.omberg markets f: balance of power." ♪ shery: we begin with breaking news. the u.s. is set to prepare a list of turkey economic sanctions. let's bring in bloomberg's ben harvey from istanbul. i believe this is related to the imprisoned pastor. tell available but about what is behind this. -- tell us a little bit about what is behind this. reporter: that's right. negotiations extend back to last year with the u.s. trying to secure the release of andrew bronson. he is an evangelical pastor who's been in turkey for a very long time. employees ofe

i'm kevinevin: cirilli, in for david westin. shery: china promises retaliation on any tariffs. goolsbee,austan chairman of the white house council of economic advisers under president obama. ♪ shery: president trump backing down on china. white house chief economic adviser larry kudlow made that clear, telling bloomberg the u.s. would keep up the pressure on beijing. china has signaled they have no intention of backing down on the street were. we are joined best this trade war -- this trade war. we are joined by congressman ryan castillo, a republican of pennsylvania. neither side is looking to back down. rep. costello: i wouldn't expect either side to back down. i think particularly as it relates to leadership here in this country, we are looking for china in particular to come to the negotiating table. the broad-based concern that i have is that consumers are going to start feeling some pain, and in particular our farmers are experiencing a real sense of trepidation and concern at this moment in time. shery: adviser kudlow telling us there's been hardly any conversation betwe

i am david westin.mberg markets balance of power, focusing on the intersection of economics and policy. fed chair powell says they will continue with the gradual path of raising rates, despite president trump's reference. the dollar dips. what started as focus on the russian interference into the election has focused on the trump organization. the battle for congress. we talk with the democratic challenger to a key house seat about what voters care about in south florida and why they made be willing to switch -- may be willing to switch to a -- from a incumbent republican incumbent. ♪ david:

david: i'm david westin.as served in senior positions on capitol hill at the white house, as well as general counsel for the gore campaign's recount battle in 2000. he is now the executive vp of revolution llc. you have a memorandum out for democratic candidates for office , particularly the house, to advise them on how to debate trump would be's. what you have to say? guest: first, you have to understand the format you are in. the debates are competitive, digital lives -- competitive come up utility of endeavors -- competitive, pugilitive endeavors. you have got to press one core theme in this. finally, practice. even experienced candidates and executive communicators need to practice for the endeavor they are going in. those are some of the key points in the memo. shery: is it still the case as we heard back in 2016, when they go low, we go high? is that still what we want to do? guest: i don't think it was moves -- i don't think it behooves candidates to get into the name-calling stuff, but you do have to

bruce with david westin, balance of power, the noon hour. never gone through a. like this. how it will work out, we will find out. l find out. francine lacqua has the dale spirit. the u.k. european union are pushing back their october deadline of reaching a brexit deal. both sides aim to finalize divorce terms by mid-november. it is an indication negotiators are struggling to make progress assurance it.k.'s has agreed to speed up talks. us, our politics reporter. what are the reasons this deadline is being pushed back? >> the main reason they are not able to agree to the divorce deal, northern ireland. they have a commitment to not have a hard border between southern ireland and northern ireland and they cannot make it work. toy were supposed to agree something at the june counsel and it looks like they cannot agree to something at the october counsel. they have to have a summit in september to make that work. kept: this is the worst secret, that the deadline is pushed back. has: this is the way the eu always worked on negotiations. things t

he spoke to david westin. >> this is a ploy, got blessed him. >> what if it is not a ploy? go back to the 1930's. it doesn't work. if he is a passionate believer and it is an end in itself, he will pay a price. >> you can watch that interview next wednesday at 9:30 p.m. new york time. british building on opposition leader jeremy corbyn to change course on brexit. activists won him to back a referendum on what ever deal the government reaches with the eu. if they succeed, a second vote could reverse brexit and could become more likely. global news 24 hours a day on air and on tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. ♪ francine: this is "bloomberg surveillance." of leader episode with liquid airs tonight -- with francine lacqua airs tonight. u.k., the pay gap has highlighted the financial services sector. banks are bad and insurers aren't so good. getting that data will help us realize where we are, and i feel to something about it. the gender pay gap at lloyds in the u.k. is 27.7%.

i'm david westin.week, the 50th congressional district in california was thought to be a shoe in for republicans with duncan hunter expected to goes to a victory, but then he was indicted for misuse of campaign funds for personal expenses. although that was not -- the question is whether it is enough to switch the sea from red the blue -- to blue. the man who would be the happens,ative if that representative ammar campa-najjar coming to us from san diego. rep. campa-najjar: thank you for having me. and thank you for getting my name right. david: i am trying. how can somebody who is under indictment, as your opponent is, how can he get reelected? rep. campa-najjar: the other question you are not asking, which i think people in their living rooms are asking themselves, how can we vote for somebody who cannot follow the law, and how can we expect him to enforce laws he cannot follow? is it a question about honor, integrity, and i think after 40 years of when importing this district people are ready for ne