. -- i am anna edwards. matt: imf miller. anna: talk about the united states and houston specifically. so much of the united states energy market, a landmark hurricane, a landmark storm now earlys over texas area estimates of what kind of economic impact we might see here, 24 billion dollars. stay, howhe reins to long they keep falling is going to be one of the key questions. what has this done to markets? gasoline spread flying as harvey looms. futures are the same. oil steady but refineries have been flooded. more than 10% of the fuel making capacity. farcolonial pipeline, so from houston to the east coast of the united states it seems we

thanks for watching, i am anna edwards.s. mr. clinton: nobody plays a song when you walk into a room anymore. [laughter] mr. bush: i did not bring the laura did not bring the coffee. david: what do you say to each other? mr. bush: generally, when does this program start and when is it going to end? [laughter] mr. clinton: he'll say to me give shorter answers. david: what was the biggest surprise the first day you are in the oval office? mr. clinton: it really surprised me how easily i could be turned into a two-dimensional cartoon. mr. bush: in walks my dad, i said, "welcome, mr. president." and he said, "thank you, mr. president." david: that must have been something. >> would you fix your tie, please? david: people wouldn't recognize me if my tie was fixed. i will leave it this way.

i'm anna edwards.ing of several white house advisory groups was one of the week's most dramatic stories. in a "washington post" op-ed, the former treasury secretary larry summers applauded ceos who chose to resign from the president's councils. and he went a step further in an interview with bloomberg television's david westin. ♪ david: given the moral imperative you see so clearly, let's talk about gary cohn for a minute. or for that matter steve , mnuchin. it was reported in "the new york times" that he was very upset when he stood next to the president yesterday. given what you know right now, should gary cohn resign? surety -- should he? because frankly if ceos leaving his counsel leaving the president, gary cohn leaving would have a much more powerful effect? larry: if i was working for the president of the united states, who equated those marching for civil rights with white supremacists, some of whom had passed connections to the american nazi party, i would resign that day. now, that is my mora

i'm anna edwards.his is "bloomberg best," your weekly review of the most important business news, analysis and interviews from bloomberg television around the world. the week began in an atmosphere of turmoil following days of heated rhetoric over north korea's nuclear ambitions and violent protest in the united states over the weekend. but monday dawned with positive economic data from japan. >> japan's gdp expanded at its fastest pace in two years and the second quarter extending this prolonged period of expansion. is it an especially all-around bait but a weakness coming through from exports. very positive trend. >> absolutely. this is probably a very decisive confirmation of final for long-lasting transition away from relying solely on external demand, and really a transition that i think is hopefully more sustainable to domestic demand. think a lot of people forget that domestic demand make over two thirds of japanese gdp. so, it is supercritical that this largest part of the economy starts to gai

i'm anna edwards. chinese technology firms and u.s. corporate earnings reports. our roundup begins with results from walmart. ♪ >> walmart gave a lukewarm forecast for the third quarter. the world's largest retailer is trying to outspend amazon and it is taking its toll. the outlook tempered enthusiasm as posted its best resales -- grocery sales growth in 10 years and that accounts for more than half of its revenue. >> eps guidance for the third quarter is not quite as strong as investors were hoping for but i think if we zoom out and look at the big picture, it is a good report for walmart. they have been on a steady streak of great sales growth for 12 quarters. great growth in e-commerce. it is mainly charged by two things. one is they have strategic acquisitions such as bonobos, jet and that is added to the total pie. but they have also really expanded their own assortment online. they have 67 million skews where they are offering shoppers more product and that is being off -- paying off too. david: target boosting its forecast for

then for watching, i am anna edwards.iant ideas, powered by sunday motor. ideas ♪ >> the oven this. fantastic risk taking. >> she was the first ever black woman to have a solo show at a whitechapel gallery. the first black woman to see acquired by the tape collections. recently, shockingly, still the first black woman to become a royal --

i am anna edwards.tweekly review of the important business news, analysis, and interviews from bloomberg television around the world. the week began in an atmosphere of turmoil following days of heated rhetoric over north korea's nuclear ambitions and violent protests in the united states. monday dawned with positive economic data from japan. gdp expanded at its itsest rate in two years in second quarter, extending this long. of expansion -- this long period of expansion. is a decisives orfirmation of final long-lasting transition away from relying solely on external demand and a transition that i more sustainable to domestic demand. people forget that consumption and -- make up over two thirds of japanese gdp. it is critical that this larger part of the economy gain some traction. ♪ >> a shakeup for washington and wall street this morning. ken frazier resigns from president trump's campaign -- committee of manufacturing leaders. -- run counter to the american ideal that all people are created equal. pr

i am anna edwards.anus: i'm manus cranny. the world deals with another terror attack in barcelona. that is the reality of the world we live in but also across the pond, the world deals with the reality of what is happening in the white house. it is a double punch for the market. the s&p 500 is down 1.5%, the second worst day this year. it has only swung 1% in three of the last six sessions. are we dealing -- are we building up to more? is what really unnerved the market yesterday. they report: was set to go, denied by the white house. you have volatility rising. rising but it is not doing what it has done historically which is drifting away after the events. anna: after terrorism in barcelona, not just in terms of white house agenda, but what does it do for the race to lead the fed as well? let's get to the risk radar and show everyone where we are in the asian equity session as we go to the night. these insane concerns around terrorism and geopolitics and around dysfunction at the white house are influ

i'm anna edwards.opean broadcasters are teaming up with each other to fend off competition from google and facebook. that, as global digital is supposed to surpassed television for the first time this year. let's get more from our telecoms reporter, who joins us here. so, we think this tie up between broadcasters only now. why all of a sudden feeling the pressure from an environment that has been changing for some time? >> for the last decade we have seen online ads take away from print. so, newspapers, magazines, billboards. right now we finally see those take away from television for the first time. we are hitting a tipping point, where these television broadcasters are saying, we have got to react here. anna: what are they trying to do? are they trying to provide better data to their clients? >> they are trying to compete with what google, facebook and youtube can do, providing targeted ads. they get all this rich information coming from the users of their services. television broadcasters are final

in london we have anna edwards is standing by in london with a preview of what's coming up.proaching 6:00 in london. in terms of the agenda, picking up on the geopolitical themes you have been discussing, very relevant to europe. but, activist investment, brexit is also very important today. we have a paper being presented by the u.k. government. ahead of that, we heard from the department for exiting the european union about what relationship they want to see, a little bit more detail. gradually we get closer to what they want. for an association unspecified amount of time. we will discuss that later, and have the former u.k. chancellor on programming later on to talk about it. we also have german gdp figures breaking at 7:00 u.k. time, this as angela merkel goes to secure a fourth term as german chancellor. yousef: thanks. german gdp figures wrapping up. u.s. equity futures called higher. that's it for this edition. ♪ got you outnumbered. the dinosaurs' extinction... don't listen to them. not appropriate. now i'm mashing these potatoes with my stick of butter... why don't

. -- i am anna edwards. matt: imf miller. na: talk about the united states and houston specifically. so much of the united states energy market, a landmark hurricane, a landmark storm now earlys over texas area estimates of what kind of economic impact we might see here, 24 billion dollars. stay, howhe reins to long they keep falling is going to be one of the key questions. what has this done to markets? gasoline spread flying as harvey looms. futures are the same. oil steady but refineries have been flooded. more than 10% of the fuel making capacity. farcolonial pipeline, so from houston to the east coast of the united states it seems we have no word that it is not running as normal. certainly that would be one way that this crisis in houston will spread to the united dates in an economic sense. what is happening on the market? is really the focus of commodity markets. around the world people are watching this story, writing throughout the weekend. they say the rain could last another 100 hours. a look at oil there is an inte

i am anna edwards. manus: i am manus cranny.arlsberg delivering -- the organic volume declined by 2%. they are being hit by russia downsizing. they see the full year is a positive impact, a positive translation impact on 50 -- 50 million danish krone. the organic beer volume drops by 2%. the estimate was for 3.85. they are warning that the organic volume is down by 2%. that in part being hit by russia. sales numbers missed the estimates, 31.70 7 million. .- 31 point you're looking at ab inbev. that is who you have got to go up against even though you have got decent recovery in europe. we are spending more. anna: let's go around to other corporate earnings. the insurance sector, first-half net income 25.4 million francs. any good position to achieve their full-year target. recently we heard from the ceo after some illness. swiss life will be restrained on acquisitions. that is with the ceo told a provocation -- that is what the ceo told a publication. manus: who is the king? it is china. they are back on top. they had the most a

i'm anna edwards. manus cranny. a couple of push and pull factors in the market. last week volatility was surging. anna: i noticed. manus: was that your opportunity, maybe, to sell volatility? yes, we flagged those massive warns, it's game on as north korea strikes guam. what does that mean? we had the biggest jump in volatility in three years. and they piled into an exchange rated fund that shorts volatility. the fund gains if the markets get coma. anna: investors are aware of the fact that when the vix rises, it typically falls afterward. that is reflected in the appetite. let's look at the risk radar and show investors had that translate into headline stories around north korea -- how this translates into a risk on atmosphere. asian equities, up by 0.5%. on the one hand, you have these comments coming through from jim mattis, who says it is game on. but the "wall street journal" cites north korean media, saying kim jong un wants to watch the u.s. a little more. that push and pull has gained the attention of the markets. manus: this shows you the whip and bang yo

i'm anna edwards. >> i'm manus cranny. the disbandment of the advisory boards by trump and the fed minutes. look at this. this is a band width of trading on the bond mash. it has been 29 -- the nair owest in almost -- narrowest in 27 years. april to may 20. what does it take to knock a ond trader into dislocation? the probability of a rate hike is dropping away. is that enough? is the trump political debacle enough to stir the moment? >> not at the moment. when we see what happened in the last three months. the drama at the white house, we have the fed and questions around where that question goes. geopolitical concerns over north korea. there are so many questions and yet we remain range bound. the stock market a quick recovery from last week's selloff as well. we have a little bit of reaction that we are seeing to those fed minutes. e see the dollar index weak. in general decreasing the chances of a rate increase this year according to what is priced into the market at least. the agent stock market picture looks positive

anna: and i'm anna edwards. manus is back.s breaking from allianz, the german financial giant, the owner of pimco. we have headlines coming through today. inflow, $52 billion in the second quarter. about some of these numbers already. the q2 revenue number looks lower than announced, at $13 billion. well, interesting as ¥1.75 trillion in that the four-year net income levels. getting some details on the first quarter performance of the company and some forecasts for the year ahead coming in from toyota. to what extent are they trying to share those are indeed -- those r&d? the two companies are nearing a deal to buy stakes in one another and build a u.s. factory. manus: let's give you the top lines on second quarter adjusting operating profit. ago. up from a year it is a turnaround story. they are operating at a buffer .f capital at over 14.8% in the margin is at 2.81%. this is what the cfo had to say about the numbers at rbs. of very good set of results. we are encouraged by the progress we are making. it is our best six-month

anna edwards is out for the day. you are left with me. i am manus cranny.et's take a look at what is going on with the market. you have had record after record. it is the rest of the market you might want to worry about. buffett says yes, stocks are the way to go. the u.s. stock market rally. it was a very small, select the ip crowd that game -- select vip crowd that gave you the highs. the flashpoint, a pileup in terms of the number of stocks hitting 52-week lows this month is rising. the numbers making two-week looks -- 52-week lows s makingred the number has. warren buffett saying it is harder to find a bargain. it is like shooting fish in a barrel. it was long after lehmans went bust and you had the confidence out there. investors seem to be shifting to a "show me" mode. thes a crowded area and breadth is questionable. you have msci up for the eighth month in a row. the data is trumping all of the rhetoric. msci asia is up .8%. trump, talking is not the answer as far as north korea but the u.s. gdp, the fastest in two years. robust economic growth. you

anna: i'm anna edwards. check out what is going on in the markets, with the futures tell us.e looking like at the start of european trading day. was closed yesterday, so playing catch-up in the you site -- he case session. the ftse 100 down .8 percent, but risk off atmosphere, risk off attitude surrounding the missile launch from north korea. that is the overriding sentiment to be aware of. manus: money is flowing into bond, swiss and yen, risk aversal -- aversion hits nine-month high according to city. stocks dropping, a sense of crisis heightening according to mizuho. down quarter of 1%. these stocks are seeing a little decline. we have a whole host of risks coming up in terms of data this week. the jobs report in the u.s., what happens with storm harvey and trump. market, moneyx going into the yen and swiss franc, a rate from the korean yuan. you want -- up 2.7 percent yesterday, the storm gathering momentum, another pass at the texas coast possibly. this time around the area where the border with the louisiana lies. what impact will that have on ports? -- rose by one poin

i am anna edwards. manus: i am manus cranny. today is a little bit risque.asn't the t-boned market that its key boots on. we are going to jackson hole. the market is getting worried about the debt ceiling. states coulde net be under pressure. what does the market do? they want their money and they wanted now. they want a premium. -- they want it now. they want a premium. they want their money for october and that king in the you curve is because -- in the yield curve is becoming more pronounced. they want a timely readdressing of the debt ceiling. manner. a timely anna: they are concerned if they do prioritize the repayments, what does that do to the other parts of this spending obligations? it would be in uncharted territory. we'll discuss that later. in terms of the reaction, it was interesting when we were covering trump and everything he has to say about the wall and nafta, he didn't seem to move markets all that much. it didn't seem to make markets fall off a cliff. by .1% on the msci asia pacific. still another date to go before we hear from yellen and

tv , if you haven't had enough of matt miller and anna edwards, you can always go back and look ateton your the charts, you get to joining if you are feeling frisky, pompous a question. you have the ib at the bottom of your screen. you know you want to, you just have to be brave. becomeext, could be ftp coalition partners for the second time in pucci chancellor ships. he talked with senior member of that party. this is bloomberg. ♪ ♪ this is the european market open. let's get into some of our top stock stories. nejra cehic is standing by. with thearting gainers, the global building materials company crh based in dublin, selling its america about $2.6n unit for billion. crh said it is a chance to catching on a business it spent more than 20 years building by acquisitions, providing funds to enter fastest-growing set -- segments. america distribution has been a part of crh for years. crh announcing the acquisition of a german supplier of aggregates. we also got numbers from the company broadly in line with how analysts have been commenting on second halferms of crh expects that to b

anna: i am anna edwards. a quick look at the futures. where we are expected to open up at the start of the european equity trading day. the asian session and words from u.s. officials saying nuclear war with north korea is not imminent. that adding a little more calm to equity markets then we saw at the end of last week. as a result we are expected to go higher in the end of the european trading day. up around 16%. -- up around .6%. the asian session pretty much flat. the markets playing catch-up on the japanese front. because of that confronting comforting wording out of u.s., we have something slightly calming. matt: it is always comforting on a monday morning to wake up and read that nuclear war is not imminent. that is why the bond market recovered a little bit. take a look at the risk radar. i have a couple of indicators that were less worried about total armageddon. a 10-year rising in yield, 2.2 basis points. there is an up arrow there. we colored it read. -- colored it red. less need for the safe haven. you see 1285.83. i looked

from here in the city of london, on anna edwards.ith got commerzbank reporting a second-quarter net loss, 630 537ion euros, a loss of million. that lost a bit wider than what we expected. they are giving us guidance in 2017, saying they see it slightly positive net result. this is germany's second-largest listed bank. that antly found out company disclosed owning 5%, making his business the second largest shareholder after the german government, which bailed out commerzbank. byy plan to cut 6000 jobs 2020, to free up cash in other areas. sticking with the banking theme, we have numbers out of societe generale. profits down 28%. litigation clouds lingering over this international dealings. the products business helping the trading to outperform some of their rivals. they are also grappling with litigation. that is, to some extent, overshadowing the underlying performance. this is france's third-largest banking business. on the trading side, interesting to note that they slightly trailed expectations. quite the opposite of what we saw

anna edwards is out of the office of the next couple of days. one market that is not pausing.friday, ther dollar. it had a jobs report that delivered. it had everything entered the market could have wanted, but still the dollar there's seem to be in charge. bears seem to be in charge. have a look at this. week moving200 average look like? this is the 200 day moving average. if it breaks this level, you are potentially looking at a more dramatic reversal of fortune. gary cohn startup -- thought to shore up the market. he is going to the hamptons this weekend for charity and said he was confident of a tax overhaul to be a published by the year-end. to that end, we are keeping a close eye on this 200 week moving average. the market is building up at the fastest pace in australia, new zealand, and canadian dollar. let's translate this into your risk radar. we are waiting for inflation data this week. the un has sanctions over pyongyang. the french are coming. may, you better get your game on if you are going to be different. up .6%. asia-pacific financials are up. tech is up. you'

anna: i am an edwards.umbers from world'se, wpp, the largest advertising business giving us their numbers, they are thinking about buying an agency called design bridge. giving us their numbers. it ordered revenue up by .3%. pretax profit up by 124.7%. at headline eps up by 16% 45.4 pence and an interim dividend of 22.7. they're cutting their full-year comparable revenue from zero to 1% from 2%. in march the stock had the biggest drop since the financial crisis. the company projected 2% growth -- cutting their revenue. that could be the thing that swings it. we have not seen a number yet of the impact of the cyberattacks. this is one of the companies that was impacted by the cyber attack in june. we heard from maersk about their impact. rosneft was that affected. be of a one for the market to keep an eye on. what the markets are dealing with is trying to divide the rhetoric of donald trump and see it -- if it is rhetoric and how it translates into futures. london said to open down by .8 of 1%. all this talk