we are keeping a night on aig.quarter earnings per share beating estimates and has added $3 billion to its stock buyback plan. aig up 3% in after-hours. that is what happened in the u.s. in europe, not a pretty day for the banks, lenders tumbling showedince stress tests all would have sufficient capital, so why do an investor still lack faith in the banks? they keep dumping these banks. everybody knows they are one of the worst-performing asset classes anywhere this year. the stress tests said most of them have sufficient capital, why aren't investors convinced? at all theook assumptions, none of them included negative interest rates, which were not even in the scenario, but they are reality. pass-fail, so these tests do not have a lot of credibility. don't they include these scenarios for real situations? >> these tests take a long time , so by the time they came up with all the assumptions and picked a point for data and banks to start reporting, negative interest rates were not a reality in europe. they are now.

aig is one of today's gainers on earnings.nd we're going to have a live and first on cnbc interview with ceo peter hancock coming up. take another look at futures here. you can see we are set up for another lower open, perhaps another lower day, would be eight straight if the markets end lower. more "squawk on the street" live from post nine when we come back. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. so i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices. the market's hot. sync your platform on any device with thinkorswim. only at td ameritrade. >>> aig as you can see up nicely in the premarket. the company posting quarterly operating profits 98 cents a share, above estimates, helped by lower costs, strength in underwriting

i've taking a last year when you call for the breakup of aig. aig came back with another plan.hey continue to execute on the plan, selling united guaranty for $3.5 billion. carl: i am proud of them for that. he and i see i die about they should be doing it aig and i supported the recently when a few people were really wanting me to really go to battle. i think he takes it very seriously that he will do a lot more of this. and now there is a company, erik , that should do buybacks. thehey have more cash, stock is related to what they can buy it for. they do with that money around. there is no machinery they can buy. aig does not by machinery. there is a company that should do buybacks. each one is unique. i can't say every company should do it. that is a good one you just mentioned. i just do believe hopefully that peter should do buybacks. i'm not saying when and how is an investor. rates, youive me low get a minor of dollars any continue a whole -- and he can dig you a hole. >> i think it was confucius beset a builder will build when money is available. all the other factors a

carl icahn explained how he is seeing eye to i with aig's management.e illustrious economists tell us why central bank policies seem to be falling short. highlights from another week of earnings reports, and major progress towards the dream of a self driving car. this is bloomberg. ♪ ♪ scarlet: this is "bloomberg best." i am scarlet fu. let's continue our global tour of the world's top business stories from a bloomberg scoop from monday. a well-known tech company may be preparing to go public. >> dropbox is considering making the big leap into the public markets. executives met to discuss the possibility of going public. that's as soon as 2017. this is according to people familiar with the matter, who say the file storage company wanted to discuss the feasibility of a listing and get a sense of the valuation it could fetch from investors. what do you know about the discussions they have had? >> valuation is going to be top of mind here. when it comes to whether or not they want to move forward. basically, management brought advisers in to say if we did

shares of aig are rallying 7%.onths of investor anxiety with second-quarter results show progress. for more, let's get to betty liu, standing by with aig ceo peter hancock at the new york stock exchange. that: great see you again, peter. you must be feeling good about the quarter. proud to weng very avert very hard to make these results happen, executing a plan we laid out in the early part of the year. timepany the size takes but the speed of execution is .omething i feel very proud of we met the goals and exceeded them in a way that makes me proud -- >> are these earlier than expected? >> earlier than most expected. we are two quarters into a planning time that we laid out. we do not want to declare victory. we want to keep people focused on execution and clients and continue to invest in the long-term. it has certainly been a good start to a long road. betty: let's talk about what works and then i want to talk about an area investors are focused on. you did quite well. >> we have operations all over the world an

think he and i see eye to eye on what they should be doing at aig.ported him recently when a few people were wanting me to go to bat. i think he takes it very seriously, i'm hopeful he will do a lot more of this. now there's a company that should do buybacks. as they get more cash, the stock is so cheap related to what they can buy it for, and they do have that money around and there's no machinery they can buy. aig does not by machinery. machinery. i can't say every company should do it. believe hopefully peter should do buybacks. i'm not wearing the hat of being on the board. a minor a dollar and he can borrow for nothing to dig you a whole, what's the story for the housing market? >> i think the thesis is identical. it was confucius who said, builder will build one money is available. ommand and all the other factors is always secondary to is the money available. we are seeing very significant additions on the commercial property side. have significant impact. certainly we have seen significant increase in the amount of multifamily housing. in som

unveiled aafter aig new business strategy, previewing their numbers next. this is bloomberg. ♪ this is "bloomberg markets are go time for the bloomberg business flash -- markets." time for the bloomberg business flash. out for that plans to sell bonds for the first time in two years, looking to repay short-term debt . they plan to sell 10 year notes as soon as today according to a person familiar with the matter. moving 8/10 of one percentage point above treasuries. platinumselling to equity, and dealing the value at $10 billion. they agreed to sell their motor 1.2generator business for billion dollars. the emerson ceo says he wants to focus on more profitable units. gamestop is buying 500 at&t wireless stores, heart of its attempt to reduce dependence on video games. no word on the purchase price, but officials say that it was the bulk of the debt offering raised earlier in this year. flashs your business update. turning to earnings, american international group is out with its second-quarter results after the bell and was surveyed for aig profits on june

betty: his whole premise was that aig is too big to manage.surance is something that is considered to perhaps be separated out. i know the business did quite well in the second quarter. did that quell any sort of speculation? insurance business has retirement products, protection products, and we look at the business in its entirety as having different issues. our new business a grew quite nicely, an increase in the year line.r term the annuities and fixed variable annuities, slower growth as the interest rate environment -- but the portfolio of the legacy of many years past uses p are actively looking at ways to reduce the amount of capital tied up in legacy portfolios, consistent with reducing capital allocation on old business while at the same time growing new business, adding value in the future, using our skills. it is a shifted emphasis of the business rather than any exit. betty: you mentioned the legacy portfolio. monetized to over $4.3 billion. where are the other opportunities to do that? >> we have listed the mortgage company. we h

normalize aig versus s&p. it really lagged over the last year. they have to do to retain the support of the investors of the world? >> initially the activists wanted them to split up the company and it proved to be too difficult and it most likely they would lose their valuable ofwe think is dollars values. costs -- that is cutting costs. that is buying back stock. i think hancock is doing a great job of managing the things he can manage. it is hard to run a big oval insurance company when interest rates are low and the pricing environment for a lot of you see products is soft. he has got his work cut out for him. the buyback of around $3 billion per quarter is really one of the best things he could do. >> thank you. make sure to catch bloomberg's interview with peter hancock coming up at the top of the hour. also, donald trump's new plan spendingest rate costs, that at least double the amount hillary clinton is proposing. we dig into the numbers. this is bloomberg. ♪ david corn donald trump took another step away from facebook services them yest

members finish the year down led by hartford and child, and of the nine largest companies, aig was thethat had a positive return and it was up 2.9%. according to jonathan adams, this may partly reflect its denver's vacation within life and retirement business lines -- diversification within life and retirement business lines. of course, for aig in particular, we are looking for a drop in profit of 32 percent after three straight quarterly losses. joe: i want to talk a little bit about auto sales today because they have been getting rolled out all day by the major automakers, and they have been, kind of, mediocre, and this is one area of the economy that has just been really strong. here is a five-year chart. less than five years ago they were below 13 million annualized had late last year, they hit $18 million annualized. then they have been rolling over a little bit. never we had the ford earnings, last week, i believe it was, and they said they see the soft spot. it has been talk about increased incentive sales. both ford and gm july numbers came in weaker than expected. we're still

and aig topp eped profit estima. the company said it will launch a $3 billion share buyback. shares after a aig rose, but finished down a tick >> the centers for di issued what's been described as an unprecedenteded travel warning. the agency is advising pregnant woman and their parto avoid an area north of miami because zika concerns. now, attention turns to washington and the funding . >> in miami, authorities are e mosquito population. but today in washington, the u.s. capitol is nearly empty after congrs was unable to take any action on a billion dollar anti zika funding measure before lawmakers headed back for white hou asked for $1.9 billion for zika p and the house passed a $1.1 billion measure in june, but the bill died in the senate amid partisan squabblinging. that's got people on both sides pointing fingers, including the ebola. >> it's time for congress to cancel its vacation. it should come back the washington. pass the president's response package. it should get this help on the way because people n from their government. republice democrats. this only underscor

. >> aig is selling the stake in united guarantee to arch capital group. that is worth $3.4 billion. and the group is coming from the investor who called be split into three separate companies. the government bailed out aig and they have cut the business to focus on the core insurance operations. >> u.s. home builders are feeling better about the housing market. the index rose to 60. any reading above 50 is a sign that more builders are viewing most of the year. >> wisn 12 news time now is 5:59. the news continues right now. >> breaking news, fire damages two homes near sherman park. >> investigators are looking into whether it is related to the incidents in the area. we are going live to tim elliott for the very latest. tim, what are you learning out >> well, ben, melinda, we are at 50th and wright. we are near the sherman park neighborhood. it is unclear where the vacant house fire is related to the unrest we have seen in that neighborhood. we want to show you the video from the morning. firefighters were called to the scene on 50th street just after 4:0

aig does not by machinery. there is a company that should do buybacks.is unique and not every company should do it. that's a good one you just mentioned. -- iieve that hopefully cannot say more -- i think they should do buybacks. erik: maybe it was not a hostile situation but it was an adversarial position and you are now on the board. he is now moving fast enough that he brought your round to the idea that aig can take an incrementalist approach by selling assets and returning capital to shareholders? >> i will tell you something interesting that you might not believe. i go into these companies and see unique things they should be doing. in certain cases, we fought with the ceo for a while and then we become friendly. i'm not saying we have christmas dinner together. take ebay with donahoe. we were against splitting it up. suddenly, he said you are right. let's split it up and it was great. look at paypal which is a great company. warner did just what we said in a took five years. you saying that hancock will come around to your idea that the company ne

[laughter] aig's cio will be staying with us.ity position but what he got was risky debt. the real problem with hedge funds. ♪ david: this is bloomberg go. we are back with aig's chief investment officer, overseeing more than 300 deep in dollars in assets. in this environment, hedge fund investment is so much more important, why do they remain important to aig? despite the fact that we have $350 billion in asset, there will be a number of asset classes where it does not make sense for me to hire the best people in the world to do that for me. i have to outsource the money management because if i cannot but together the team of experts and be able to confidently respond -- provide them with a supply of capital, we will not have a big position. we use the outside managers in a whole number of forums, some in the form of hedge funds, some in separate accounts. i use a variety of outside managers to manage those classes that will be sold -- small in scale. a longn: you went to short equity fund and help -- ended up holding puerto ric

and aig will part ways with its mortgage insurance business. they will sell the division to arch capital for $3.5 billion. the deal, which is not guaranteed to close, could nevertheless be finalized this week. aig shares rose marginally on the news to $59.22. >>> a hotel operator that runs a number of popular brands says its payment processing system has been breached. the ati hotels and resorts which includes hyatt, sheraton, marriott and western says it may have impacted 20 in ten states and the district of columbia. malware was installed to capture credit card information at the point of purchase. >>> airfares this fall are expected to fall, a lot. that's according to researchers who track how much it costs to fly. while this is good news if you're booking a flight, it's not great news if you own airline stocks. phil lebeau has more. >> reporter: if you're packing your bags for a trip this fall, you might have a little extra money to spend when you take off. that's the prediction of the travel website hopper, which expects domestic fares to

aig is in talks to sell the mortgage insurer united guaranteed to arch capital group.hat's according to a person familiar with the matter. toer and caucus trying simplify its company and free up capital to return to shareholders. they are discussing a possible sale price of about three point $1 billion. seekingpeake energy is a loan to refinance its debt. financial top and arrange the secured debt. they will use to buy back $500 million of its bonds. is looking for another director of its nine person board in response to investors criticism. but the board is hindering the change turnaround. the company is adding access provisions recommended by shareholders at the annual meeting. it makes it easier for investors to suggest proposals. they are recovering from a string of illness outbreak that began last year. and that is your business flash update. >> let's get back to central banks and the bank of japan that is becoming quite the whale. the of the effort to boost stagnant economy, the boj is increasing stakes in companies putting it on course to become the number one s

aig is to manage. considered something that perhaps should be separated out. i know the business did well in the second quarter so does that quell any of those separation speculations? >> the life insurance business products, and we look at this business in its entirety as having different issues. on new bid for it new business grew quite nicely, the increase in your on your on the term life. error -- fixed and very bony woody's, slower growth as the interest rate environment make it less attractive. the portfolio of the legacy of many years past means a lot of capital. we are actively looking at ways to reduce the amount of capital tied up an old legacy portfolios, very consistent with reducing our capital allocation on old is this while at the same time growing new business, adding value to clients in the skills.sing our it is a shift in emphasis for the business rather than any exits. betty: you mentioned the legacy portfolio. you monetize to the tune. where are the other opportunities to do that? t

aig just now reporting. morgan brennan, how do they look?ading through the results, for example, waiting on the revenue number to be published on the website and earnings per share number, 98 cents adjusted, a beat by 5 cents versus 95 they were expected. a few other key metrics here. to note, that -- actually a big thing to note is aig has said to pledge up to $25 million of stock buy backs and dividends through next year and the last quarter returned $3.2 billion to shareholders. also, noting that aig, the company, has authorized repurchase up to $3 billion worth of stock in the company. the one other item that i would note here is return on equity was 8.6%, that's up from 6.8% a year ago and that normalized roe improved to 8.8% so as i mentioned still waiting on the revenue number and a beat on eps a fen you take a look at aig stock up 2.5% after hours. >> all right. yep. there it is. thank you. be sure to tune in "squawk on the street" for peter hancock, talking about those results, presumably, the revenue by that time at 9:40. how do yo

aig patrick money, power & weave extended interviews and investigations. >>>coming up. dr. saboto weighs in on trp' >>>coming up. dr. saboto weighs in on trp' challenge and his hid z22pnz zy6z >>>coming up. dr. saboto weighs in on trp' challenge and his hid y22pny yy6y ? know you're budgeted for the expected, y22pny yy6y and the unexpected. know that at least the process of buying a new home can be clear and simple. know your instments can make e word behind all the guidance we provide, tools we create, and services we offer. because when you have insight, you know. >>well, the map shows that hillary clinton i the clear front runner. she has 348 electoral votes right now. donald trump has 190. >> translation, dond trump hole. needing 270 electoral votes to win and hehas 190. but he has time to reset his campaign. thatas part of his point on the visit to baton ruin. owing by floods. president obama will also be visiting the same area on tuesday. and we willrejoin you on monday night at 11:30 with more money, powe& david was proud to be an american soldier. and i know i'm pre

aig peter han dock will be on squawk on the street.interview you don't want to miss. >>> more stocks to watch earnings related here. electronic arts reporting a surprise first quarter profit. however this company's revenue forecast is slightly below forecast and that weighed on the stock. >>> etsy reporting a wider second quarter loss due to currency headwinds, but revenue rose beating forecasts and the company raising the full year sale'sout look. look at the chart after that big move earlier this week. another 5% move on earnings. >>> haines brands second quarter results missing estimates for inner wear or underwear and active wear divisions. the company is cutting the full year outlook. >> inner wear, that's the buzz these days. hanesbrand. b b our own reporting that despite preliminary expressions of a deal, aller again is unlikely to pursue a deal for bio gen. those sales off. >> that would be a big deal. do we have any sense of how many billions? >> again, this is a -- you're only talking about a company in the size of merck or a

it has grown, now instead of rc and hobby companies come in we have big names come in like gopro and aig and red bull, those companies. >> going forward to national competition, next week on goveor >> all of our pilots up on deck. make sure you have everything you need to go and race today. >> all day long, when they crash, they grab the drone, fix it up, within minutes back on the course. >> it is one of the next mass sports you can -- participate but through first person, goggle. >> this is one thing, you get to see it in real-time. racer out there? >> i used to race motorcycles. motorcycles huge rush coming around corners, foot off ground, but, you know you wipe out, you get hurt. this is only thing that i can describe to that, you come around corner fly by a tree at 80 miles an hour, if you hit something, you tumble, pull off your goggles and go pick up some parts instead of your body. >> natio governor's island they are fighting it out. >> freestyle set tone. >> my mother complaints. >> what didn't go up was salaries. at subway, you'll love the greek flavors of our mediterranean col

. >>> commuting is just aig old time ck. dog it in russia is no different from re. it's a painn the butt. you're taking a train. you would think weather wouldn't slow it down. not in this case. >> yikes! whoa! >> oh, that's not supposed to happen. >> but that's not weather. that's just like live -- >> lightning strike is what hit those lines above that train and and does that look surprisingly no injuries. >> there was a report of one woman falling off a platform and injuring her leg but it was really unrelated to this. >> looks terrible. but they ao say ain't that uncommon. >> s just say that. that's not what you want -- >> happens all the time. >> great. >> i can already hear the conductor saying, hey, welcome to the train. it's electrifying. >> traffic jam in russia, very similar to traffic jams here in the states. however the car in front of this car with dash cam tries to give it a ltle extra gas to get through. but it doesn't quite work. >> oh! >> whoa! >> hey -- >> how do they do that? >> you hear that thump of the explosion and the flames immediately pop out

always aig moment. it was magnified when silva who grew up in the city became an olympic champion in one of brazil's favorite sports. judo. >> emotion pouring out for one of rio de janeiro's. >> at the olympic aquatic stadium, the united states had a huge night. >> murphy stretching to the wall! olympic gold, gets it.

terrible that the father of the animal that killed the wonderful people in orlando was sitting with aig his face right behind hillary clinton? >> reporter: the clinton campaign said he was is not invited. trump also continued to hammer clinton on the scandal surrounding her use of a private e-mail server while secretary of state. >> how do you think hillary would feel if e-mails were never invented? would she be happy? it revealed so much. it revealed the lies, the deception, the dishonesty. >> reporter: clinton, meanwhile, first time reacted to trump's remark that second amendment people could do something to stop her. >> words matter, my friends. donald trump simply does not have the temperament to be president and commander in chief of the united states. >> reporter: trump later claimed he was talking about political power and wasn't inciting violence. he denied a report that the secret service followed up on his comments. brian webb for cbs news, new cybersecurity breach that targeted democratic politicians is worse than originally thought. "the new york times" says russian hackers

. >> at aig want the police to investigate the shooting as more than a double murder. >> this is not a robbery. this this seems this is not an i mack to imam, it is an attack to the community. suspectedded hate crimes against plus limb americans is on the rise. sautner is asked if this crime is part of that trend. >> there is nothing in the preliminary indication that would indicate they were targeted because of their faith. >> could beir chaudhry heads a mosque near bi. >> we are devastated and we want tapes and continuing to talk to witnesses trying to figure out why these two men were targeted. elaine, they leave behind large and grieving families including ten children. >> tony thank you. >> a new cbs news battleground tracker poll out sunday shows hillary clinton has extended her lead in florida and is now five points ahead of donald trump n new hampshire, she is up by nine points. in georgia, traditionally a republican state, trump leads by for more on this, we turn to errol barnett and our elections director anthony salvanto in washington. >> so new hampshire is another swing

. >>> aig second quarter profit tops forecast. the insurer is also expanding the stock buy back program. aig ceo will be on skauk on the street. that is a first on cnbc interview. it's coming p at 9:45 eastern time. the dow logging the seventh straight day of losses. longest losing streak in about a year. here is the atlanta fed president talking a possibility of rate hikes yesterday. >> at this point, i don't rule out a rate increase at the next meeting or later in the year. we just have to wait and see how the data come in. the situation is maybe a little bit ambiguous, but i think i can imagine conditions in which we could have a rate hike. >> all right. joining us now, steve friedman, investment strategist, he helps oversee $1 trillion of assets. on the economy, chief economist. steves, welcome. kansas city good to see you. steve freedman first. the dow seven day losing streak. it's the first time in the year. are we heading for some sort of dramatic august correction? >> m i don't think so. this is a pretty modest consolidati

. >> not take aig way from those guys.now they have a lot of ability and a lot of young talent in that room. i'm going to work and you guys will be out here, i'll work and give everything i have and help bring this group along. >> as i said stephen tulloch played 10 years in the nfl and brett celek starting his tenth season with the eagles. not bad for a fifth round pick out of cincinnati back in 2007 who always had that 10-year career mark in the back of his mind. >> i always hoped, i always dreamed, and, um, i try to take every day and make that dream come true. um, you know, i think it's no different than when i was a little kid, you know, when i was in the second and third grade i always wanted to play in the nfl. all it takes is you. and for to you make a decision in your life that, you know, i want to do this. >> good advice for all of us from brent celek. >>> phillies starting two game series against the white sox in chicago tonight for the phillies it will be the first trip to play the white sox in chicago since ba

doug dachille is aig's investing officer.here. >> good to be here. >> i think you're second only to those of pension funds because eventually they have to pay people their pensions and right now the ability to make anything on anything is so brutally hard. insurance companies, you've seen in the paper last couple of days raising premiums. where they're allowed to. because they're not getting returns. that they expected on the money that they're investing. you're bringing in all these premiums. and it's your job to invest that and get a return. so later on when they get paid out. the money's there. >> our job is even harder. unlike pensions we have much more restrictions about what we can invest in to pay our obligation to policy holders. pensions have much greater latitude in alternative investments. where if you're an insurance company, you have the core amount of your assets. and so you have much less latitude to invest in riskier investments to generate return. as a result if you can't generate investment returns on the pr

i was working at aig in 2008. you might remember what happened -- >> oh, yes. [laughter] >> so i decided i could never put all my eggs in one basket again. so i decided what would be a meaningful but achievable percentage of all of my resources to allocate boo these side projects? 10% felt about right, and then world religion, 10% is something people can actually allocate towards a goal or objective. >> right. >> so i felt, you know, if it was good enough for all of these religions, it was probably good enough for me. >> so when did you test your theory, you know? like you said, i'm a tither, you know, through my church, but when did you apply this and just to see if it would actually work? >> so i sat down with pen and paper, and i basically took my bank account and allocated 10% to the side and saut figured out how much time i could spend doing this. once i did that, i started actually finding projects to invest in. talking to people, talking to my network, finding things that were sort of relevant to hi skills and -- my skills and interest. and when i did th

these pictures at the end of the 1990's, they concluded that what we are seeing is a big crater with aig impact crater, mountain in the center. and you have seen pictures elsewhere of large craters with a mountain in the center. maybe you saw them in the pictures of the craters on ceres or mars, or the moon and other bodies, mostly airless bodies. the reason for that, the way you takea a crater, you interplanetary debris, it comes screaming down at the surface and has it was so much energy that the surface melts. and it flows away from the impact and then is sloshes back. itit sloshes back, solidifies. so the mountain and the center, looks to me like a snapshot of the process by which these craters are formed. i want to show you an artist concept of how this crater may from theed on vesta impact of a big piece of interplanetary debris. here's the interplanetary debris. here is vesta before the impact and now here is vesta after. it's brady huge amount of material, a tremendous number of space, and some of them went on their own independent orbits around the sun. some of them made their p

. >> aig is gaining extended trade after announcing a buyback and is second quarter job -- peter hancockg assets and is slashing jobs after three straight quarter losses. joined this year, after are doing the insurer was too big to succeed. >> where was it that he's exceeded the most -- that you succeeded the most? >> we are focusing on core markets. as we do that, we have been able to reduce costs, which led to an improvement. growthas been tremendous in our private client business, double-digit growth. and that is in an area where the risk expertise is very valuable. with the mix of business we have today, it is better with the earnings then it was one year ago. so when i look at where we are growing and where we are cutting back, it is reshaping the earnings mix to a more sustainable mix. >> reporting its worst profits since 2004. the second-biggest mining company, looking at what they announced. it is tied to world growth. estimates,ed world cut to $.45 . their idea in february, reflecting this. it was a boring result, unfortunately. >> when you see these figures, do you have to chan

aig interview. journalists and analysts in more than 120 countries.♪ welcome to bloomberg markets. ♪ >> good tuesday afternoon. i'm scarlet fu. >> i'm angie lau. here's what we are watching. the dow is on track for its longest losing streak in nearly a year and crude oil falls the lowest since april in new york. scarlet: in japan growth remains far behind. angie: america's fight against zika takes another turn after the cdc's warning. dr. anthony from fauci. scarlet:

ckinpi up aig endorsement in the re-election bid. tommy thompsonhrowinup behind ryan. he went on toay iroud to enmydoe friend paul an. >> speaker ryan isosting two he wants to talout the stping this afternoon a a & tools in racine andtopping in pleasant prairie around . >> governor iswalker breaking grou for a wisconsin company. the leaders are holding a ceremony at 1:00 at the site in the city of keel. it is a farm equipment supier years. >> 6:08. it is s nice outside. >> gorgeo. >> perfect today. >> we have nice day on deck. today fewer clouds in place for us. we reach up to 81 today. the heat the humidit is rebounding as we r to 84 tomorrow. to80s.ay and fridaynto i the mid the and storm chances increase. now, here at home this morning we are talking sunshine an temperatures around thea arre showing up in the 50s and 60. up to80 today. a littlhine now, we are going to matt up in news cho 12. >> we are t over hale interchange. things are looking goo in all 894. travel times are good as well. no troubles withhe travel times. that is a look at the morni commute. back t

scarlet: aig has agreed to sell mortgage insurance to arch capital.eterrt of hancock's plan to cut assets. it is valued at $3.4 billion. donald trump laid out his plan to prevent terrorist attacks on american soil. we have the details. this is bloomberg. ♪ scarlet: donald trump laying out his plan for combating the islamic state today in a speech on force and -- on foreign policy. for ansident is calling ideology test to screen for terrorists. overdue to is develop a screening test for the threats we face today. vetting. extreme i call it extreme -- extreme vetting. our country has enough problems. we don't need more. these are problems like we have never had before. [applause] scarlet: joining us now is white house and are alex wing. in this new proposal on donald trump's prohibition against muslim immigration, how would extreme vetting work? alex: it is not altogether clear. would be something of an ideology test. he says we only want people coming to the united states of america that embrace our culture of tolerance. how that is applied is in quest

the top five index points contributors, four were financials, aig, j.p.organ, citi paul giving big contributions. p functionk at the ima on bloomberg, energy stocks did the best. joe: on the government bond , there continues to be selling the last several days. you can look at the australian a sharp jumpd, ace sharp jum up. that's keeping with the broader story from g7 developed countries. g7 bond yields at their highest level in five weeks. this is still incredibly low, the average yields across various government bonds. there has been an uptrend. japan is reaching the limit of how much a can buy, people concerned about the same phenomenon happening elsewhere. this is something to keep an eye on, the increase in yields. scarlet: is this a fundamental repricing? a look at currencies and the dollar, specifically the bloomberg dollar index, recovering from a five-week low. you can see the low reached in june. that is thanks to u.s. labor market strength signs. adp for instance. againstar strengthened 13 of 15 major currencies. commodities, the story has bee

aig was earnings that beat estimates, announcing a stock buyback authorization, shares up 7%.ontinental exchange is pursuing a five for one stock buy back. time warner as well with numbers that beat estimates. failed by 10% of hulu. -- they will buy 10% of hulu. dropber initially we saw a after we saw this on is interested build -- this unexpected bills. there was a large drawdown and gasoline, so that is mitigating or offsetting the affect of the overall build. we are still seeing oil hang onto gains of nearly 1% right now. it did drop 5% in the past two trading sessions. julie: it is a bear market. matt: i want to go to court collins. she has first word news on the news desk. reporter: there was a dramatic escape in dubai when this jet landed. it erupted in flames after sliding down the runway on its belly. emergency chutes were deployed and all people escaped unharmed. it is the worst accident ever for emirates, the biggest carrier of international traffic. the runway was shut down for several hours before reopening. armed police are being deployed in london as an effort to

procter & gamble and aig. down arrows after a lifetime high yesterday.you d to get your brand new business started. we're legalzoom and we've already partnered with over a million new business owners to do just that. check us out today to see how you can become one of them. legalzoom. legal help is here. [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models. lea: markets across the globe under pressure. let's start off in start off the nation appeared to want up there the shanghai could posit indexing china. the nikkei in japan down 1.5%. hang seng closed in hong kong because of other states have weather there. kospi and koreatown half of 1%. all-time sack to slower, banks have been winning. bank of england may be cut rates since 2009. dax in germany down 1%. here's a look a u.s. stock market futures down six days in a row. the s&p 500 did hit a high. let's take a look at oil now because we are seeing the oil in 4041 a barrel below $40 for the first time since april m

aig resorts is reporting problems at the star wood, marriott and intercontinental hotel. they have may have stolen payment card data during thousands of other transactions. the latest attacks follow industries in recent months. >>> we yauz it to blast music but is it blasting our hearing? >> after deadly flooding over i know you! hi! we're your neighbors. we live across the street. thanks for this. i see you've got time warner cable like the rest of the hood. genius. yeah, they offer tons of free hd channels. and you can record six shows at the same time. looks like you're all hooked up. game's about to start. let's do it. we're watching here? oh yeah. ohh. how about you and i go watch my favorite show? make your move to time warner cable. for $89.99 per month you'll get tv, 100 meg internet and phone. switch today. >>> people in southeast texas are bracing for more rain after a heavy dose pounded parts of the state over the weekend. parts of houston received more than three inches of rain in a to flash flooding. drivers were forced to abandon their vehicles. no reports o

gulf and 35th and youra of concern and ction, is going to be aig through the area. otherwise, it doesn't lookik le it will be affecting any other direction or travel lane more to come. we'll get to the tampa area fro there. fowler avenue at 15th street north so just east of that tersection we have a crash reported in the eastbound direction. we don't know about any lane blockage here but just be careful and we'll update you on this one as well. >>russell: all right. here we go. so disturbing, t sheriff there says it's one of the toughest he's ever seen. and weat he doing this story, but we have to tell it to you this morning. >>laur a woman is sittinng i jail charged with manslaughter. sheriff says that her 6-year-old sonil his week old sister after t mothereft all three children alone in a hot car. the mother's names kathlee steele. e's 62 years old. she went inside a cell phone store and left her 6-year-old, her inside a hot van. the baby started to cry and the 6-ye-old beat her so severely, she ed. steele did not get the baby medical attention until much later th

but grab aig yesterday in the 70s. today in the upper 50s. high's today cooler upper 70s to low 80s. inland mid to upper 80s and we will >>> and that's a look at your local forecast. >> dave, thank you. our invigorating ocean spray single-serve juice drinks on your commute. or at the office. ahh! where'd he go? i'm in the break room. enjoy the bold taste of ocean spray any time or place. with oxygen fused moisture... for the nourishment you need... with 95% more volume. dove oxygen moisture. don't let dust and allergens get between you and life's beautiful moments. flonase gives you more complete allergy relief. most allergy pills only control one inflammatory substance. flonase controls 6. and six is greater than one. flonase changes everything. ? we could tell you that the designer color collections from hgtv home by sherwin-williams are you sure those colors go together? yes, all these colors go together. or, about our reputation... it's from the paint company that pros trust. or the smooth, professional finish that makes those colors even

then when you get ready -- it wasn't like on aig like a life-sized version. >> jimmy: right. you were watching a monitor. >> yeah, 8-inch screen on your computer, it's different, it's dark. it's like, yo, i think i see -- and you know it's going on the app in 40 minutes. >> jimmy: and immediately became a gif people sent around. i watched it today reserve. >> it's a complex scene. rehearse. >> jimmy: right. >> i could do that for you, right? >> jimmy: this scene you're touching yourself. >> yeah, i'm like -- >> jimmy: right. >> the girl's standing on the side. she's concerned because i've been standing there for a while. i feel like i'm just out here. while she's actually in it -- i'm like -- >> jimmy: right, right. i don't know if we can show that. by the way, hillary clinton was in that seat last night. [ laughter ] [ applause ] >> i know, pickle jar? she was playing with a pickle too. well, it's always a pleasure to see you. i'm glad everything is going so well. the show is "power," it airs sunday nights on starz. curtis 50 cent jackson, everybody. be right back with wagne