my first bank account was barclays bank.the time i was serving on the board, had been in africa for 100 years and in many ways i had to separate the emotional personal me with the board in africa very committed to africa's ongoing progress in society with the sort of job of being a fiduciary in the custodian of an organization to make sure it can survive and thrive over the long-term. it was a hard decision. i want barclays to stay in africa but the regulatory environment -- >> we will fulfill our 40 year commitment to congressional coverage. we will return to this program momentarily following a short pro forma session in the senate. now live to the senate floor here on c-span2. the presiding officer: the senate will come to order. the clerk will read a communication to the senate. the clerk: washington, d.c., august 27, 2021. to the senate: under the provisions of rule 1, paragraph 3, of the standing rules of the senate, i hereby appoint the honorable tim kaine, a senator from the commonwealth of virginia, to perform the d

joining us is emmanuel cau, barclays head of european equity strategy.re do you want to be taking on risk right now? emmanuel: buy the dip has been a very consistent phenomenon in the last three months, and the fact that we still have a lot of cash on the sidelines, the money markets have $5 trillion available to be invested, and that is something which is providing a cushion to the market, even with growth uncertainty rising and policy angst rising as well. so we should not forget that this has been on a very solid foundation for investors to buy the dip in july. there is a very strong member in q2, very big guidance that could lay the groundwork for supportive markets. but yes, we are facing more uncertainty now with tapering, was pmi's peaking, and the earnings behind us. so we want to be more selective, reducing risk, but at the same time, we want to have some hedge against rising yields, the backdrop of the fed announcing tapering, and provide some selective exposure to value and financials because we are seeing the reflation is not complete we fini

first of all, by the time you are on the board, these are complexit organizations, board f barclays was a company that's been around 360 years take a step back with the historical context of the corporations that have gone through wars and pandemics, good times and bad but manages to stay afloat and i think that was a lot of open-mindedness, good judgment in the face of a complex issue and really do the job as a fiduciary but also custodian of these very important organizations soliciting more than speaking is a key takeaways but also appreciating by the time something appears is extremely difficult and somebody else would have solved the, you need to think about these issue in a broad perspective and not just an ideological there's only one answer kind of way. >> you both break down a couple of vague issues, what words are and how they operate among risk for the future and a lot of the big issues playing out now. i want to read one thing, the change in times of made it more indispensable than ever so how has that changed in the last year? we are in a global pandemic, i would love to he

fabrice montagne, barclays chief u.k. economist.his is bloomberg. ♪ >> we aim to increase prices in the first half of the year, just to make sure these additional costs are not completely -- and actually, the first quarter and second order have shown this works ok, and therefore the profit of our entire business and our margin will significantly improve versus what we have seen last year. guy: continental's cfo talking to bloomberg a little earlier. i think we have learned a lot about what is happening in terms of the auto sector. we know about what is happening with the chip shortage, but we had a really interesting conversation earlier this week. i probably should have been more specific on this, but talking about the amount of chips that go into an ev versus an internal combustion vehicle. the new look at what is happening with the president targets and what forward -- the president's targets and what ford is saying today, and it could slow the production of ev's. alix: not only do we have the supply constraint story, but also th

at barclays, the chief strategist is weighing if it is worth catching a falling knife when it comes totocks, which have been on a roller coaster ride. that is going to be tricky. barclays saying positioning for a possible rebound while hedging for protection seems to be the smarter move and one option is to invest in companies that have large china exposure that are not listed there with the luxury space particularly relevant. we have, exposed stocks sparking the local selloff we have seen in china. the peso did stumble on thursday amid speculation for a rrr cut in light of the limited fiscal space. at hsbc, you have joseph saying the strips lockdown as well as moderating inflation is likely to prompt them to deliver a 50 basis point rrr cut at next week's meeting while rate cuts off the table given the real policy rate is close to -2%. shery. shery: here in the u.s., we had jobless claims improve slightly after the july adp private payrolls #a significant mess. let's discuss what to expect. we are joined by an economist at wells fargo. shannon, great to have you with us. we have been

barclays cohead of global fx sales is doing us next to discuss.his is bloomberg. ♪ ♪ alix: it is an historic moment for new york state. you're looking at a live shot of now governor kathy hochul at her swearing-in ceremony, the first female governor, taking over for andrew cuomo after he resigned from sexual harassment allegations, after months of distractions over that. she was sworn in in a brief ceremony, and here she is in her first press conference. however you look at it, it is a historic moment for the state. guy: absolutely, but she will have to hit the ground running. covid a major crisis right now, and a gathering storm. what is she going to do with schools? that is whatever but he wants to know. are we going to see a mask mandate? how is she going to manage that? she's got a lot on her plate on day one. alix: it seems like the bigger question for schools right now in new york is how many cases of covid in a school will trigger a shutdown. that is the question that is not yet answered. in terms of vaccinations, masks, yes, but the closur

. >> yes, sure, so basically the context was, i was on the board of barclay's bank and we had a general meeting and we had certainly over a thousand shareholders show up, post financial crisis, a lot of enthusiasm in a massive hall and i was the only visible minority, meaning the only woman on the board and only black person and in that respect already standing out and you're right, the shareholders stood up at q & a and pointed at me aggressively, i want to know the credentials of that statutory woman that she can serve on this board and thankfully i had worked 10 years at goldman sachs and i had a ph.d. in economy and my position on the board i often say to minority candidates and people interested in boards that we should not be in a position where we have to lead with our race or gender. we should be leading the conversation in our abilities. we work, we try to work extremely hard we want to learn we want to grow we want to contribute and it's not about getting any breaks or any favors. we want a fair shot at these students and i think that is really was my big takeaway from the exp

going along with, if not maybe, fueling some of the bank notes barclays view. >> barclays and they are moving up their expectation for december the first move in the second quarter of the following year. this is following all as we await jackson hole that is the place where the fed telegraphed moves or changes in direction. on edge for that for sure. >>> senate negotiations reaching agreement on the senate bill the cryptocurrency amendment was blocked. the new language would narrow the definition of the broker addressing the miners and developers would be subject to tax reporting requirements a required unanimous consent which senator shelby would not give without the addition of $50 billion in additional military spending that is a poison pill which was blocked by sanders it will remain in the bill for a vote set for 11:00 a.m. today. if it passes as expected, the pill will have to be taken up by the house where changes could be made senator lummis had been pushing for the language she will be fighting another day. she joins us at 8:00 for more on that >>> then there are the apes. the

i should stifle barclays for the low, low more lovely circle above the hot water in it. no law could. they should william of she books been of the chalet and colored comet made more than the whole the hulu initially myself, she will buckle talent of all noise in may issue me forgot. or i the big one in terms of this is his contribution to taking the gollum heights in the 9676 a war he gets a lot of credit for that. that's the 110 bowl of his legacy. one other sort of your muslim, got a month of the 3 year the as a slim of the senate meant a lot of be going island doesn't have to. that would be me and every feel. when i'm in off all of it or monkey, i meant to ask ali a, but is there an issue? well, are you? yes. well, what about that? and the l m. lead that the general blow up under a lawful asleep fellow. another that on the polio on a sunday, the shake made man the local solar. by, by the la la la la mana, to mushroom the dummy duchess. come the mirror image of the model. so we, we said that much, much more slippers about the on my la shit memory pay. i live day. becau

she stifled barclays for the low, low more lovely circle above the hot water in it. no law could they. she lawyer, she bought select, i mean, been much of the chalet and he called it the comment made the show mom more that the whole to the who live initially my firms will you might say buck who turned on hold of him may issue becoming a god or the big one in terms of this is his contribution to taking the golan heights in the 9676 a war he gets a lot of credit for that. that's the 110 bowl of his legacy. one other sort of your muslim mother, him moment of the 3 year just sort of the senate mental want to be going island doesn't have to. that will be me and i'm an hour or a month to month as a matter ask ali up, but it's not an issue blah, illegally. a lot of value that and look at that. the general looked up under a lawful asleep. he could forward another on the throne alone, totally honest. you may not look the low up, followed by the la la la la monna. and again, that is too much of the dummy dash in the middle of the model. so we, we said that the microphone movie

she stifled barclays of a low, low more lovely circle above the hot water in it. no law could. they should william, she bought select. i mean, been much of the chalet and he called it how much made it more that the whole to the who live initially my firms will you might say buck who turned on hold of him may issue becoming god or the big one in terms of this is his contribution to taking the gollum heights in the 9676 a war he gets a lot of credit for that. that is the $110.00 bowl of his legacy. one other sort of your muzzle him on the off of the 3 year just sort of the senate mental want to be going island doesn't have to. that would be me and i'm an hour or a month i meant to ask ali up. but julia and my mother in law illegally a lot of value that and like i said, i believe that the general looked up under a lawful asleep somewhat another on the throughout totally honest, you may not look the low up followed by the la la la la i'm on the to mushroom the duchess of the bill on the model. so we, we saw him when he slid the mother. my law should memo pay. i live day. because th

the ground started reporting rainfall, which tremendously aided their efforts to bring soon mister barclay's work, but firefighters. professional rescue workers and military personnel aren't the only ones battling these wildfires. countless volunteers from all over you could hear young an old could not stand idly by and have been joining the fight to save their homeland security. but there is hypocritical. here the guys are all patriots . first of all, they want to save you here. of course we conduct a briefing so that everything is safe. we send dozens of volunteers to help every day. i decided to help myself protect the homeland. isn't it scary? well, it's a little scary of course, but you need to protect your homeland. as the 20th anniversary of the 911 terror attacks nears the families of those who lost their lives in the atrocity want joe biden to stay away from this years. memorial event, at least if he doesn't declassified documents that some suspect provide evidence of saudi involvement. 6 months ago, the 911 community had great hopes that president joe biden would be the long last c

in barclay also stays to boston only for a future to live. killian is very competitive and creates the mentality to when he said publicly that he wants a competitive team. and now i don't think there's a more competitive team then this. and that means that he doesn't have an excuse to do any other thing. the formalities of the medical, his $41000000.00 contract and his unveiling over. now it's time for messy to step on the pitch. he should do that the training this week in a much for real, by the end of the month. pool reese al jazeera paris. ah. so these are the headlines on our with the rock aniston's interior minister has told us that government forces are pushing to secure main highways, large cities and border crossings. local groups are also being armed. they try to fight back the taliban offensive. he's promised to push back the taliban games, but also urged the group to pursue peace. love them to do i know last what? i'm asking the taliban to stop their brutality. leave killing. sit down with love and we should find solutions. i'm asking them not to destroy buildings or are chi

when lloyd's of london, barclays bank, the royal bank of scotland, the midland bank, when all of theseand the financial services sector, the banking sector, all admitted that their companies and corporations rose up from the foul environment of slavery, what they wish to do as a consequence is to tell us what they are going to do about it. all right. and so they put what we call something on the table, an offensive public relations act to say, "we will put £1 million in this community charity," but they're not talking to us. all right. and they might not wish to talk to us right now, but they will have to talk to us sooner or later. because the consciousness here has been...awakened by historical discourses, by the realisation that this long journey, this 394—year journey with the british monarchy, has done us harm. we have not had any benefits to be associated with... what harm does the queen do as being head of state? she's a very benign presence. look at what happened with the windrush. no power. look at what happened to the windrush people. we fought for the british empire in the s

i want to bring in the chief china economist at barclays asia-pacific.with us. let me throw out a chart to st with, which has been running pretty hot. we aren't expecting too much moderation this month either. we sell very muted moderation in the previous month. does this potentially get in the way of market expectations of more easing from the government? >> no, i don't think so. actually, our forecast is also the forecast will stay elevated in the near term. but if you look at the latest july bureau meeting and the dovish tone, calling for more proactive fiscal policy and the monetary policy to ensure sufficient liquidity. in our view, the pboc will continue to maintain an accommodative stance, especially in view of the spreading delta variant in china now to around 17 provinces, and also more signs of a slowing economy. shery: in particular when it comes to inflation, we haven't seen that, right? are the risks even more skewed to the downside, as you say, with the delta variant? jian: indeed. the reason why the view is that inflation is not an issue,

this is the barclays title win some, lose some.f money for the shorts which the -- >> i know. on twitter this morning talk about payment of bitcoin >> we should just go to the bronx zoo and do the show from there. >> bronx zoo is awesome. i haven't been there for a while. i used to go there often i miss those days. >> okay. >> you're talking about the stocks amp mc, it was funny up substantially in the pre-market yesterday. couldn't hold. down again at almost 3%. >> you don't think convertible bond he didn't give you that vibe >> he mentioned his own personal holdings and mentioned 67 and at some point would look for diversification later this year or this year >> what's interesting nucor is up 3 now up only 1. there's some skepticism developing in some areas but i'm watching some of the traditional growth stocks making their way back >> we haven't touched on either wendy's. and the former weight watchers, jim, on some subgrowth that was a clear miss in an earning, 48 cents misses by 17 cents >> the ceo of wendy, that stock should

sophie: at barclays, the team is calculating a 150 to 300 basis point hit the growth.xpect the government will retain zero-tolerance policies. barclays is watching for any sign of further destructions with schools or the closing of labor in factories, or industries as we have seen in wuhan. haslinda: japan has the forecast for the year. we could see a back to back contraction. sophie: we have. over at standard chartered, the head of asia research says there are downside risks, a forecast of 1.8% this year. she is noting that the negative risks have been priced, so there is consolidation for the currency below that level. over at capital economics, they are saying the surprise we saw in the second-quarter gdp numbers will likely repeat. but he is saying there are likely -- they're likely forecasts could be a little too low so they will revise that target on the back of the data we just got. yvonne: sophie kamaruddin in there. taking a look at thailand's, the market is heading lower. we are lower by about 0.8% for thailand. it is joining in on the risk off that we are se

this research report, the author is marvin barth of barclays.n, awaiting supply is an absolute tour de force. let the cut to the single sentence, we are going to have a self-limiting recovery. explain. marvin: this is one of the things that i think a lot of people are missing in these inflation shocks. it is not just about the higher prices. what we have seen is a persistent sequence of downside surprises to output. this is very consistent with the global short run aggregate supply curve shifting backward. what that means is we are still having a strong recovery. it is being limited by supply. tom: here is the money question. the idea of potential gdp, do we get a permanent shift in it to a lower potential gdp because of this pandemic? marvin: that is still a far more open question. obviously, bond markets have been gripping with that. one of the coincidences here, and it does suggest these moves to record lows in long-run real interest rates in the u.s., should be question here is that if you think about supply restraining demand right now, tha

barclays, a 17% plunge. but despite that, money flew into equities. i put it to you this morning that the reason you have passed through this existential angst moment because robert kaplan has opened the trapdoor to the possibility of a delay in the sequencing of tapering. that, ladies and gentlemen, has repriced the dollar and emboldened some the equity risk takers. let me show you the rally. a bounce back in china. the tech stocks up 1.5%. what is more important? the scale of the heights or the pace of the taper? do you want more big tech? are you worried about delta? the china implosion in terms of regulation and growth is what is worrying global fx markets. this is the oil market bouncing back. kaplan waivers and the dollar goes over and oil bounces back. it is not genius stuff. bitcoin above 50,000. i put it to you that any valley in euro swiss would be an opportunity to buy a little swiss for the weekend. jackson hole is the event the world will focus on this week. virtual gathering. the scrutiny and the taper clues are what we are looking for a

still ahead, governor cuomo resigning, new york state assembly minority leader will barclay is next.on what matters most. whether it's ensuring food arrives as fresh as when it departs. being first on the scene, when every second counts. or teaching biology without a lab. we are the leader in 5g. #1 in customer satisfaction. and a partner who includes 5g in every plan, so you get it all. without trade-offs. unconventional thinking. it's better for business. this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you. this past year has felt like a long, long norwegian winter. but eventually, with spring comes rebirth. everything begins anew. and many of us realize a fundamental human need to connect with other like-minded people. welcome back to the world. viking. exploring the world in comfort... once again. maria: welcome back. good wednesday morning. thanks so much for joining us. i'm maria bartiromo. it

michael gapen with barclays, the chief u.s. economist. frame out your gdp call.u want to change it right now we are all years. -- we are all ears. michael: i think mike framed it the way i would. this feels like coming down from stimulus payments than it does reflecting delta variant fears. i think we will return to environment of more pedestrian retail sales reports on average because gains will be driven more by labor market income, not stimulus payments. this is a transition month in that regard. what jumped up the system was a lot of shortages in terms of semi conductors and autos. the ex autos number is probably more accurate read in terms of what it means for the consumer. we are at 6.5% on q3. we have personal consumption slowing to four. a lot of the growth in the next dose go to three quarters, maybe even four quarters, most of us are expecting will come from restocking. the advent tory shortages that have cropped up -- the inventory shortages that have cropped up were all assuming that over time businesses will help rebuild those stocks. may be a good o

something so big we are going to get more onto that later but one more quick anecdote, you are on the barclays board and considered withdrawing from a horse that like? >> for me personally, i was born and raised in africa, my first bank account at the time i was serving on the board, it had been there for 100 years. in many ways i had to separate emotional personal me, someone born in africa, committed to africa's congress from the job of being a fiduciary and an organization to make sure it can thrive long-term. it was a hard decision. i want to stay in africa but at the same time the regulatory environment in the 2008 financial crisis is g50 from a significant systemic important company and on that basis, the regulators increased capitol requirements intermediate challenging in the manner that they were. it's tough but it underlines and underscores this challenge of having to do things for what you would like to see happen in the interest of making sure you do fiduciary but also making sure over time the company continues to survive and thrive and it's alive and kicking. >> as a former banki

jonathan: michael gapen of barclays already said yes, to be clear.basically said it is going to be a snooze fest, and go ahead, so we will be hearing about your vacation plans. going forward, we talk about price pressures. there's another definition of transitory, as we were just hearing from michael shaoul earlier today area what are some of the data points you find most important when it comes to price pressures in the next few months that could indicate how quickly they will taper, and even the potential for rate hikes currently being priced out? michael: the most important number coming up in august is going to be the cpi because it comes out in the middle of the month. the pce comes at the end of the month, so for this month and ahead of jackson hole, it is going to be cpi. we are going to watch used cars, and we will look for price pressures anywhere else that appeared to be building. tom: he's going to be watching the desert city ramblers in jackson hole. that is really what he's going to be doing. jonathan: mike is just looking for an excuse

but as you look at other sectors particularly barclays high yield chart going year to date, the spreadse widened as of late. when you look at interest rates and the spreads, then take into account the dollar index this is a one-week chart four sessions. the dollar index ran up. of course what's going on with jackson hole going virtual took some of the steam out of the dollar index all the trades seem to be moving in tandem with the notion the taper is coming. it's more a question of when and on the reports you are discussing, lots of talk today about whether you look at the port of los angeles and long beach together they have 40 ships waiting to unload. that is a post-covid tie for the all-time high which was set back in february. so really a lot of moving parts here but the taper is still the number one issue in the fixed income space tyler, back to you >>> and speaking of those container ships, we'll shift gears to that supply chain crunch cyrus setbacks, demand and a shortage pushing shipping rates very, very high, sky high. the latest world freight index shows the cost to ship a st

the italian market let's bring in the first guest this morning head of the eu equity strategy at barclayshelp us understand where to go from here. thanks for joining us. hopefully you heard as i ran through the month to date moves in europe and it feels the reflation trade lost steam how are your investors positioned now >> good morning. the market is looking at positive forces in the last month. we have a strong liquidity support which is inflating all of the market which is one of the key beneficiaries. that is pushing them to keep adding to equity and using any dip to add to the ick equity ma. there is a more crucial positions and we have seen the consensus trade with the reflation trade in particular has been sold with concerns of china and covid coming back. the market is resilient and finds gravity. we see a more cautious position with the market which is telling that maybe the market is not as it looks you know, we are coming soon and we will see what happens i see a lot of uncertainty about china and covid despite the apparent market. >> emanuel, i had to admit i had not seen that

guy: in terms of what will get today, uber, barclays, marathon. etsy coming out with numbers.be hearing from senator elizabeth warren, david westin will be having that conversation with senator warren. fascinating in terms of what is happening with the eviction story. how the white house dropped the ball around that story. the cdc angle may giving them short-term coverage, but is it going to be enough? alix: also disturbing funds, got to do it. billions waiting to be distributive. balance of power is next. tune into the cable with guy and myself live on dab digital radio in the london area. yields now flat. fascinating movement after you had richard clarida speaking earlier to adam posen, talking about he did not know why yields were so low and repair the lowest level since february. still 117 basis points. still pretty low. we cannot seem to break that 120. the individual names and some of the earnings like gm still getting beaten up after disappointing earnings. this is bloomberg. ♪ >> from the world of politics -- >> there are things that causes great concern. >> to the wor

barclays is also saying this will help strengthen the seller and cash ecosystems.hery: does this mean this could be the start of some consolidation in the space? paul: but will definitely be something to watch. it is interesting when you step back and think about it. square bought afterpay. didn't buy any of the rivals like zip or any of the other smaller competitors. afterpay has square's enormously deep pockets behind it as it looks to aggressively expand. their other big players in the market. we have paypal, apple, here in australia, the commonwealth bank, launching its own buy-now-pay-later platform as well. the space getting very crowded and also not particularly well regulated. you could perhaps expect to see more upheaval in the months ahead. haidi: and in sydney definitely, we will continue to watch that space. buy-now-pay-later, so hot right now. let's look at what else we are watching for australia and new zealand. it is rba decision date. making a u-turn on the plans amid the virus and the surgeons in australia. we will get more on that with joe masters

[laughter] coming up, michael gapen, barclays chief economist. i once walked into the gym.re bench pressing. true story. actually a fair amount of weight. i said, what are you up to? he said the old ice hockey routine. i walked right back out. tom: the last time i worked out, nixon was president. [laughter] jonathan: -0.4%. tom: we are in arbitration. [laughter] jonathan: yields lower by four basis points on the 10 year, 1.2233%. from new york, this is bloomberg. ♪ lisa: with the first -- ritika: with the first word news, i'm ritika gupta. the president offered a defiant defense of his decision to pull troops out of the afghanistan. he had knowledged the situation was far from perfect. both allies and opponents suggested the president disregarded concerns that the taliban was advancing quickly, and that has led to a humanitarian disaster. for months, superstar fund manager cathie wood has been reducing holdings tied to chinese tech giants. the founder of ark investment management spoke with bloomberg tv. >> we do own and some of our most specialized funds some chinese stock

barclays sees this as a real revolution in the online streaming space.ll enlarged in 2019. they have 160 million -- 116 million subscribers. netflix has 210 million subscribers so the space is certainly heating up. tom: some rapid onboarding of subscribers. thank you for that breakdown. let's get more on this with matthew bloxham, who covers media for bloomberg intelligence. matthew, in terms of that subscriber rate for disney plus, do you expect it to be sustained, the momentum that we are seeing? matthew: absolutely. i think on the call yesterday, they were clear to point out that they do still have to launch the service and a number of important markets. with those lunches over the next 12 months or so, you will continue to see strong growth of the disney plus platform, and still potentially some opportunity. definitely encouraging signs about momentum. tom: do we have any clarity on pricing for disney plus? are they in a position to start to raise some of the pricing of these offerings? matthew: they have went through some price increases in some mar

>> so you expected you bought fedex, the shares are down about a percent over the last week and barclays said that tina is increased caution, there's no alternative and people are buying the dip for fedex, solid business, of course, were you buying the dip or the fundamentals of that business >> so i added to the dip and the stock is down 10% or so from the highs. maybe a little more and what took it down after they had a phenomenal quarter was u.p.s. didn't have a great quarter. we know that labor costs were higher there and that's lean on the stock but it's very cheap in my view. the fundamentals are excellent, as a matter of fact, the same fundamentals essentially that are driving xpo. i looked at it, sold off as a misunderstanding or a disagreement on the market and i added it to the core position over the last couple of days >> turning our attention to semis, names like nvidia up 7% this week. joe, i'm going to start with you. do you see that continued leadership coming from chips as we mentioned earlier, chips up about 4% this week along with tesla. >> well, i'm certainly positione

. >> barclay says we see limited growth for equities here as the increased global macrorisks. morgan stanley cutting gdp, from to 6.5 do stocks need a re-rating as a result of that >> so, if you think about past periods of time where we had a very strong rebound off the bottom -- by the way we just had the fastest double for the stock market in history -- when you think about 2010 versus 2009, as like one example, you got into a situation in the summer of 2010 where stocks started to sell off very violently, i might add, into august, as people started to worry, okay this is as good as it gets the economic recovery off the lows in '09, too far too fast, valuations, blah-blah blah that was one of the most buyable obviously buyable dips of all time had you done that after that huge rebound, during that consolidation period where the recovery was in doubt, you did very well. i think the market was, like -- the dow at eight or nine thousand at that point that's one example i could see it's important to think about the year as a year where we consolidate a lot of the gains we have a

by october 4, 1852 they arrived at barclay sport, and here they said they were resting for the entire day for the sake of the mules. henry bought some corn for them which they needed after their hard toil and the poor food of the withered grass that they had subsisted on. but they were very proud that so far they had not lost a single animal on their drove. from here they left the santa fe trail and continued down to mexico. and when they arrived at the custom house, henry's business with the custom house took six days, and it took so long because he had to translate the detailed invoice of his long stock into spanish. and the custom house officers took advantage of everything possible in settling the amount of the duty according to rebecca. she also said that some goods were entirely prohibited and that she had all the nice things that her mother and grandma had made for her, packed in her two trunks. and when she arrived she found that most of the things had been denounced as contraband. and she was certain that it had furnished the custom house authorities with a rich and elegant w

barclays, worse than feared e these are not the stuff we thought it was going to be bad these are peopleoth know them many, many years. they feel bad. what do we say to them >> what we say is this is a short-term unpredictable environment. although we did our best to guess where we thought we would land on the quarter, things are changing daily with consumer certainly covid is changing as we watched unfortunately what is happening with delta although we are providing the best visibility which we have at that, it is continuing to be volatile we did miss, but i think the important point, jim, is if you look at the fundamentals of our business, our brands have federal reserve been stronger. we are investing in those brands and we're investing for the long term and we have every confidence we will continue to increase and accelerate the profitable growth of the company over the long term >> so if you look at your mosaic, your businesses, you do not agree with morgan stanley that says that this quarter calls into question the degree of strength of clorox's underlying businesses, you think tha

liz: well yeah and you've got to get a charles barclay in your life so you can have a little bit of verbal right? it's great to see you both. we'll be following this story i think it's really interesting it's only expected to get bigger , thanks, guys. >> thank you. >> you bet. liz: experts predicting this back-to-school shopping season will be the biggest-ever recorded, but will inflation make notebooks and rulers more expensive than ever? we're heading to the mall for the school supply price check-in in moments and the stocks that stand to land a top grade in profits class. closing bell ringing in 36 minutes down s&p at session highs right now, could new records be in-store? you've got to stay with us to see. i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage. my name is douglas. i

barclays with sofi, buying the callings, why the calls, not the equity >> well, i do have equity in multiple different types of financials, brian. i love capital one still look at the stock and can't believe it trades at a single digit pe. when you look at these from price to book and go arthrothrough bank of america which i also own, i think there is a lot of incredible upside to the points and a half already been brought up by jim and shannon. i think when you look at the names when i'm looking at sofi and some others they're a bit newer for me i'd rather test the waters by being in the calls i'm even sometimes leveraging up for instance i bought bank of americas calls today that add the stock i own i'm double dipping so to speak. but i agree, i think the financials have so much more room to the upside and have been on a great run in many cases back to the november and you look at where many of the stocks were like in energy, materials and others, you will see there's been an explosive move to the upside i'm impressed with where we are. >> good stuff there on some of the financials as well

at barclays, they expect import growth will slow to 10 or 20%.ointing to pent up demand as well as doubt over sustainable infrastructure recovery to drive that import growth. they are expecting that this will pick up in the latter part of the second half of this year. this is the mystic growth momentum being picked up again. as for export, oxford economics seen as strong. import demand driving later this year. a gradual easing of the global supply chain. that is what we are closely tracking. >> as i mentioned, obviously, the chip shortage is still front and center. it seems like right now when it comes to the mainland listed chip stock, they are getting hit for a second day. this is on the back of state media warning of speculation in the industry in china as they chips market deals with supply shortage there. this is one of the places you could park your money where it is relatively safe from that regulatory risk. look at the tech stock, we are seeing a bit of bottom fishing here. we have seen a grueling couple of weeks for these tech stocks. bu

the worries about the economy, and another thing that is happening, as barclays bank has pointed out,o taper, that could induce more capital outflows. for many many reasons, they are going to have a dovish hold. we will see if they give us any more hints about policy. >> kathleen hays with a preview. you can turn to your bloomberg for more on bank indonesia's rate decision. let's take a look at the stocks we are watching over the course of the trading day. >> we are watching chinese tutoring stocks after material impact to their businesses from the regulatory changes. we are seeing oriental -- new oriental adrs falling. and chinese ride-hailing related firms. switching out the board for a quick check of how we are seeing malaysian assets. we are seeing the ringgit hold below that 4.24 level. the political crisis continues. we have learned lawmakers who back -- have been called to attend this thursday as we wait to see. >> we have big interviews. we will be speaking to the ceos of two companies. we will also be hearing from goldman sachs. more reaction to tencent's results. also the ma

we will speak with the barclays chief india economist. bloomberg. ♪ rishaad: your back with bloomberg. analysis shows that president xi jinping's rhetoric about common prosperity search this year. it is being seen as a signal to the commitment to close the wealth gap and tackling what is called unreasonable incomes. the china government reporter is in beijing. what did we glean from this data, lucille? reporter: we looked at president xi's speeches as well as his meetings from 2012 fully first came to power. we saw that his mentions of common prosperity were quite sporadic during his first eight years of power and then we saw an uptick last year and this year there is really been a surge, certainly signaling a change in priority. and we also saw that when china talks about this shape as income distribution, use to really talk about the lower end and middle end and middle and and now it is really hitting on the high income bracket. juliette: stay with us, we just want to get some breaking news we're hearing from the chinese commerce minist

. >> a bunch of price target cuts on uber, barclays 63, evercore 70, just trimming here basically. >> look, after lyft you really kind of knew that -- didn't everybody know that there was a driver shortage? i mean, anyone who has taken uber during this period has a sense that you paid a lot more you go to your apartments david. >> yeah, no, i wouldn't get in an uber. subway's been working pretty well or city bike. uber, that priced me out, man. i can't do it. >> someone was supposed to see me, very wealthy person and had a $400 offer on an uber to go basically from 9th to 6th street >> apparently like in hampton to go one town to the next is like $300 that's what i heard. i haven't done it. >> you went somewhere. >> it does have a secret location place. >> i did not go anywhere. >> and remember, he was voted having the best living room of everybody. >> that was true, very true. ten out of ten as i recall. >> ten out of ten. >> host of "jeopardy!. a charmed life. >> he's living his best life. >> we're all jealous of you. >> it's going by fast. >> really, you're jealous of me? >> okay.

the results are actually quite high given that its competitors, such as barclays, also posted very strongnterim dividend, which is great news for shareholders and they sent dividend guidance to 40 to 55% of deposit earnings, which is great, and also they set the credit lending expectation to mid—single digits, so i think these are a great set of results and also great guidance going forward. it is interesting they have done so well when interest rates are around the world at record low levels. yes. basically, the good result is mainly supported by the economic recovery. so very easy comparison versus last year at the worst of the pandemic, so we get that lift year—on—year. also, we also saw major part because of lower credit loss credit loss permissions, released more of the earnings coming out. also there has been great growth in the personal and well lending space, which for asia is pretty strong. i actually think the interest rate element is passed negative. if you look at the interest rate margins, it actually has been lower because of the interest rate position. it is really big beca