very busy and the busiest of the busiest in surveillance is maria tadeo in brussels. she is door stopping. you have done a lot of door stopping. how do you doorstop anxious politicians in brussels? nejra: you call out their name with a big smile, you hold out your mic, and you fire your questions as quickly and ferociously as you can. we certainly have seen that this morning. there has been so much optimism priced into the recovery fund in terms of european equities, but also the btb bun spread. some investors say we have been here before in terms of brussels often taking its time to come to an agreement, so you might not necessarily see a lot of pessimism and markets next week if we don't get agreement straightaway. as investors say, it will come eventually. tom: i am an amateur here. in thes that mr. rutte netherlands is front and center. is that how you see it? never echo yeah, as usual, when you go into these meetings, you may get the ascents that we may not get an agreement straightaway. there is a lot of work that needs to be done. this is normal at this stage o

let's get to brussels with an update from maria tadeo.ed about how this was for the crown and merkel, and they managed to get across the line, it is not particularly about burden sharing, but what are some of the details? explain to us the backstory? maria: it is always difficult to in who won and who did not, brussels every time you get a deal, every country will say it is a great deal. when you look at emmanuel macron and angela merkel, they got this through the finish line. this is something that has not been done before in the european union. what is striking is a few months ago we were talking about the esm, and the best way to go about this is if italy and spain tap the esm. both countries will get 82 billion euros, they will not have to pay, and their yield are moving lower. you could argue this indicates , even ifn-merkel plan water down. clearugal four made it they wanted rebates in the budget. emmanuel macron said after rebates arerly alive even though he did not like them. the german amount is flat. this was the price of compro

maria tadeo is in brussels. run us through the details. ve a deal, it has taken five days. the 5:00 agreed at a.m. our. it fell short by just 25 minutes of a record. when you look at the actual details, we have a recovery fund of 750 billion euros. the components which have been -- the figure that was floated as a compromise yesterday, and the rest will be handled through low credit to countries badly hit by the coronavirus. we are starting to get more details with the spanish government, that they will get 72 billion euros in grants. we are waiting to get details from italy. today, the country cap restart its economy with great strength, also suggesting that there is no need to tap-in to the esm here. if you look back at where we were standing just a few weeks ago, it seemed we were going to go the bailout way. now we are going to get the european commission collective debt in a joint response to countries badly had. in many ways, you could argue that this is a real breakthrough for the european union. nejra: it will be interesting to see

manus: maria tadeo -- no problem -- maria tadeo, our reporter in brussels.er euro group president an agreement amongst the european leaders on the proposed recovery fund is much-needed to help boost investor confidence. he spoke with bloomberg in an exclusive interview from lisbon on the last day in office. >> it is a much-needed deal. closely hope leaders can weeka deal as soon as this are at the latest, at the end of the month. the euro group back in april set for the response of europe. we took the first steps of this response to the crisis and we now need to close the deal to strengthen the confidence of investors, citizens in the recovery phase of this crisis. will the deal eventually come with any kind of strength to get the frugal 4 on board with this. enoughink we have bargaining that it gives margin for maneuver. that suits everyone in europe. we have different views of the final agreement. time, they see the european council is enough to bargain. >> seeing the polish election this weekend, does the reelection make it slightly more difficult to make

joining us now is our order from brussels, maria tadeo. ring as far as the number that the frugal four are willing to allow in grant? -- in grants? maria: we are stretching it to day four. long and intense negotiations with a lot of akin or over how large the grant component should be. it started at 500 billion euros. to 400 billion euros. and now we understand that it is at 390 billion euros. the frugal four believe this should be done through credit and loans. they are willing to work with 390 billion euros. you're looking at a reduction of more than 100 billion euros. but i will say that negotiations are ongoing. we know the european leaders will reconvene at 4:00 p.m. rutte trump into marc this morning and he says he does not believe this is a done deal. he said howell -- i asked him how long this could go until and he said until the end of the weekend. anna: this does not feel like a joke. signaling -- if the deal is reached, it will seem like an important political signal has been given by the european leaders. what about the other is

anna: maria tadeo in brussels.mproves for the summit. , -- coming up, after a report that online ohoo was underpaying workers, we discuss ethical issues that have plagued fast fashion. ♪ ♪ welcome back to "bloomberg markets: european open." european equities fairly flat some 40 minutes into the trading day. interesting geopolitical lines coming out of china. china claims the virus research research -- virus allegations are absurd. also interestingly, pushing back against comments we heard from the u.s. attorney general. china cause william barr's comments groundless. this after the u.s. attorney general says u.s. companies have become pawns of china, enabling the government in beijing to amass influence and wealth at the expense of the u.s. and western democratic values. let us get to another market theme of the week. that is around fast fascination -- fast fashion and the ethical and sustainable issues that sometimes plagued the industries. shares of boohoo plunged earlier this month after a report some u.k. suppl

joining us now from brussels is a reporter maria tadeo with the details. maria: we do have a deal and a whole package of 750 billion euros. the grand component which had then problematic now confirmed, 390 billion euros. the breakdown by country is interesting. italy and spain will be the biggest and for the recovery fund. get 82 billion euros, spain will get 72 billion euros. when you go back a few weeks when the debate was about a esmcal bailout tapping into credit in, that will remove tension we had seen in the market that is reported today in yields. it is good news for emmanuel macron and angela merkel who have pushed for a collective response, and we are getting one today even if it is watered down. have at the center of the debate and are getting a bigger rebate for the next seven years. it is your typical european compromise where every country will tell you it is a good deal for the government, the taxpayers and an overall good thing for the european union. francine: thank you so much maria tadeo in brussels. joining us today is andrew sheets, mana

maria tadeo joins us. good morning. it is a marathon session but how likely is a deal by monday? e just don't know. the official line is a deal by the end of the week is not guaranteed. but what i can tell you, the last 24 hours, it has been relentless. angela merkel has been on the phone hoping to get a deal by sunday. mark.oke to merkel -- to he is the holder at this point -- hold out at this point. he is concerned about the format and the size of it. yesterday, emmanuel macron had a meeting with giuseppe conte, hoping to get a deal by sunday. but there are two theories floating around that we could be in for a short summit that ends tomorrow and leaders call a new one by the end of the month, or a summit that stretches into sunday, now with a deal. anna: if there is no agreement then, is there any kind of plan b here? i suppose a meeting later might be necessary. does that constitute plan b? maria: well anna, pretty much. it's just about the timing. when you look at the content, the germans are leading this, they said they don't want to water down the grant component of this re

let's go to maria tadeo outside the european parliament in brussels. wants a quick deal. can she get it? the bigrancine, that is question, the reason why she is here today, speaking before the european parliament to pitch the , 750 billionhis euros of which will be handed out. she will repeat the same arguments she has been repeating for weeks, the fact that this recovery fund will help to kickstart the economic growth in the european union but also protect the single market. you can look at this as a gesture from angela merkel. ultimately this is a country that -- that is what angela merkel has been stressing at this point. whether we get a deal next week in the european summit will depend in many ways on the frugal four, in particular the dutch prime minister, who is playing hardball and it is paying off in polls. he is doing well at this point. if you look at the european commission, they argue a quick deal will be good for the european economy. there could be serious divergence in the economy, a two-tier recovery, if we don't get a quick one done.

we are joined from brussels by maria tadeo. there are many points on which there are disagreements including the frugal four can't have control about the reforms. what do we have is a blueprint now? maria: we know that when you look at the graph, 390 could be a compromise, 390 billion euros. going into the summit, the frugal four had repeatedly said they wanted this to be more focused on credit, that they believed a typical bailout cash for reforms worked better. angela merkel and macron said they were not willing to go below 400 billion euros in grants. the latest compromise could be 390 and that could seal the deal on the front but there are many issues happening, one with the governance of the package which has become almost as problematic as the amount. the prime minister of the netherlands has been playing the summit very hard and insists the country should have the right to veto the payment from the commission to a country. there are questions about how the money is being used. for the italians, this is problematic. giusep

joining us with the latest is our reporter on the ground maria tadeo.ss like some changed overnight for at least this morning after leaders were pretty deadlocked finishing up the weekend. what is going on? for almost three days, entering into day four and the fact negotiations are ongoing is good news because at one point yesterday, this seemed like the negotiations could collapse. when you look at everything over the weekend, it is clear there have been three major sticking points. the overall size of the recovery fund which counted 500 billion euros. that money is handed out to italy and spain, who will ensure it is handled appropriately? and it is used for reforms that has been an issue for the dutch. the dutch prime minister had suggested he wanted to get a super veto on the money that could potentially stop the payments if he felt the money was not used correctly. we had a bigger issue overall when you look at the role of eastern european countries. we understand the size of the fund, there is a potential compromise being agreed, 390 billion euros

tom: our maria tadeo in brussels. lisa abramowicz, a look at all that is going on, and the fixed income market is the litmus paper. what did the spread do offices agreement? lisa: you can see this encourages further risk on. when you talk about stocks, you also have to talk about the fixed income market. perspective,you 1.3 trillion dollars of investment grade credit was issued in the u.s. in the first half, more than all of last year alone. the question is how much is this supporting equity valuations, and how much further does it have to go? are we going to see some stalling out as the pace of borrowing fades away? mayor gimenez: some real mysteries here into the second -- tom: some real mysteries here into the second half of the year. our kevin cirilli is monitoring senate lunching in washington. this is without question the most important conversation of the day if you are just flat out curious about this market. stovalle all -- the family has been doing this for decades, leading to sam stovall, cfra chief investm

haidi: maria tadeo is in brussels. four days of talks. getting closer to a resolution and how much of a compromise is this from where we were originally coming from? maria: we are now stretching into day five and it continues for another six hours. it is going to be a record-breaking moment in the amount of time we have spent here over this one summit. we do understand we are entering the final stretch to get this deal that there is a path to a deal which should come in the next few hours. the grants which is really the problematic issue and the funds in the aftermath of the corona crisis was the sticking point. we now have compromise of 390 billion euros. that is below the 500 billion euros that was originally presented but we knew this was a tough negotiation and it was going to be watered down. we understand that the countries that receive this money now believe 390 billion is a good compromise. they actually believe looking at the different pieces of the puzzle, that ultimately, they are going to be better off if this is signed off to

maria tadeo for us with that interview. on the role being played by the dutch, they and the rest of the frugal four. let's take a look ahead to what is happening. in a major speech later, the u.k. chancellor ricci's neck will outline plans to kickstart the economy. he announced re-billion pounds and made 1.6 billion available to the arts and culture sectors. retail sales figures were published -- will be published at 1:00 p.m. london time. the data in may is expected to show a partial recovery from the plunge in march. test 1:00,r chancellor angela merkel addresses the european parliament. she will debate priorities of the german presidency and set out her country goals over the next six months. later today, president trump counterpartxican -- posts his mexican counterpart at the white house, the firstborn visit since taking office. -- first foreign visit since taking office. reports the u.s. may punish banks in hong kong and destabilize the currency peg to the dollar. we will get that next. ♪ matt: welcome back. this is th

maria tadeo.cause at 10:30 today london time, we will speak to the european commission economy minister. back to our part of the world, saudi arabia, the central saying that he sees light at the end of the tunnel. consumer spending has picked up, although there is still a need to remain vigilant. he spoke exclusively with my colleague about the outlook for recovery. >> i think it is too early to say a v-shaped. because, barring any downside risk coming from the second remain --example, we we see light at the end of the tunnel. >> since the coronavirus hit, you have stepped in with all kinds of liquidity support programs. some of them are due to expire in september. what happens then? do they get extended? >> we have a program of support that has three elements. thefirst one was targeting deferral payments or the funding for lending. affordable costs. paid whereuarantees we guarantee -- for them. the earlier program, the payments, was very successful. 70% increase on that amount. the second one was

maria tadeo is outside the eu parliament. it's raining in brussels today. what does she want. good morning, maria. maria: she wants a great deal. that's the reason she's here. it is symbolic that she is coming here today. this is the first trip since the coronavirus started back in march. when she speaks to the european parliament today, she's going to repeat what we've heard for weeks now coming from angela merkel. the recovery fund is the best way to prop up the european economy. 500 billion euros in grants is the best way to protect the margaret. whether you believe this is a big political gesture from angela merkel or just self-preservation, germany is an economy that does depend on exports. angela merkel is throwing her entire political weight behind this recovery fund. she said she wants an early dear -- deal. onwill depend in many ways the prime minister of the netherlands. content,t's about the not the time. being tough on the european periphery is working for him. we are being told it's not clear that there will be a deal next week. nejra: briefly, the commission signa

bloomberg's maria tadeo in brussels, thank you very much.p, the home appliances group still sees negative full-year demand. we will be speaking with the ceo next. this is bloomberg. ♪ ♪ economics, finance, politics, this is "berg surveillance." home appliances group electrolux has reported a narrower than expected second-quarter loss. the swedish company says it still sees negative full-year demand in most of its main markets but that the pace of recovery will vary greatly between regions. joining us now, the electrolux ceo. great to have you on the show with us. shares have dropped the most in more than a month today. you talked about the pandemic situation remaining fluid, creating on strict -- creating extraordinary uncertainty, but the comments around negative demand for the full year in most main markets no doubt causing concern for investors. how are you planning to manage that situation? >> first of all, the first half of the year saw negative demand in most markets, so it would have to be very significant growth in the second have to

we had today out -- maria tadeo in brussels. then you rollover in the stimulus, and the struggle is to get to august. that is what they are going to do at the white house today to have senator mcconnell go up to .ee mr. trump this is a republican party in full-scale panic. jonathan: congress returning to work. a $2 trillion spread between democrats and republicans going into these negotiations. lisa: it will be really interesting to see what president trump is demanding and what he is willing to give up. let's start with what tom already laid out. 4:00 a.m. eastern time or p.m. brussels time, we get the eu leaders reconvening to try to get some kind of agreement. the signal is positive. the question is in the details, as you were talking about earlier today. we will hear from the white house meeting with mcconnell, as well as treasury secretary steven mnuchin, to discuss a new stimulus package. very curious about the payroll tax cuts president trump is demanding that has bipartisan opposition. aftermarket, we get to kick of tech

joining us from muscles is maria tadeo. 60 minutes to go. waiting for the prime minister to leave his hotel. how key are the top later this evening? maria: it has been four difficult

maria tadeo joins us on the line from brussels. great to get you on the program finally. s a deal that has to be approved domestically. in each and every country, will it be? maria: at this point, i think it is clear that it will be. it is very unlikely a leader goes home and is unsure about the ratification. if you look at the document and the wording of it, and some areas it is very vague. this is always done on purpose so that everyone can see this is a good deal. we have value for money. this is what i've done for you. they have to speak among themselves, but they also have to speak to their taxpayers. rutte islike mark going to go back to the netherlands and say i have been fighting for your taxpayer money. tom: well said. the gentleman from hungary, the gentleman from poland, they are going to go home as well. what is the impact of the eastern european states at this meeting, and what will be their power at strasburg in parliament? maria: that is the issue when it comes to victor or bond -- viktor orban. it is very clear the european leaders decided to give him a pas

for more on all things europe, join maria tadeo and myself on radio this morning for a special episodesels edition. we will talk about germany's rotating presidency of the european union for the next six months. do not miss that conversation on bloomberg radio. i continue to try to convince our television viewers, convert our tv viewers to radio listeners. it is a fantastic way to get your news. it is easy to find. go on the internet anywhere and in the "bloomberg radio" search box, and you will find us there. to bloombergsten dab digital radio, you have that luxury. anywhere in the world, type "bloomberg radio" in the search box, and listen to us. coming up, airbus embarks on the most expensive restructuring in its history, which means it is firing more people than ever. this is bloomberg. ♪ anna: welcome back to "bloomberg markets: european open." of minutes until the start european equity trade, futures are looking more buoyant. embarking on the most extensive restructuring in its history, with plans to cut 15,000 jobs worldwide. weeks after a 15 billion euro package to save airbus,

del vino en este campo agrícola corresponden al pequeño tadeo todo dice que es la pieza del rompecabezas que pone a sus padres tras las rejas maríalijan al próximo presidente >> continuación estrategias de cada partido para tener el voto hispano es lo que representa el 13% del electorado >>no paga las cuentas >> mensajes contundentes en español el 68% de las personas desaprueban el manejo de la emergencia >> el presidente. su tono ante la emergencia y dio apoyo al de grillas >> el candidato demócrata confía en la ciencia para enfrentar la pandemia y con distancia social que refuerce líderes >> sanders también de elizabeth warren tocaran puertas también de esos hogares de quién tuvo otra preferencia par asumarnos a biden . >> es un lado presume logros de su gobierno el muro y su proyecto de un regreso mientras biden a poyar daca y de quién será su compañero de formula . >> notre dame no será sede del primer debate, el presidente de la escueala dice que por el caso de números de covid-19 no será así la comisión dice que el evento será en cleveland en pabellon compartido. >> al regresar . >> hannah causa devastación en méxico y esta

tadeo. parte de este evidencia será revelada en la próxima audiencia preliminar el cual será el 5 de agosto, la fiscal dice que este juicio puededurar hasta dos años, noticieros telemundo california >>> gracias maríadora de alimentos en (nombre extranjero) denunció que la compañía presuntamente no ha informó los trabajadores en brote de coronavirus que dejó a decenas más contagiados. y como nos dice luis, el establecimiento fue cerrado por autoridades de salud por no cumplir con los protocolos de salubridad >>> josé roberto Álvarez de 67 años trabajó en el departamento de mantenimiento de (nombre extranjero) hasta finales de julio, cuando según su hija se sometió a una prueba con su esposa >>> este renata que padecía de diabetes y interpretación... neumonía que lo dejó en unidad de cuidados intensivos por dos semanas conectado respirador, hasta que falleció. >>> su padre dice que temía perder su empleo >>> dice que había casos, y casos >>> el departamento informó que había cerrado tres plantas de alimentos tras no reportar lotes de 141 contagios. >>> los empleados (nombre extranjero) regresaron a trabajar aunque se negaron a hablar con nosotros, unos dijo que le han chequeado la temperatura y al s