the head of investment strategy at barclays is still with us. hesitate to put the faangs into one basket. very different business models. does anything unite them aside from the fact they are over and -- over owned? >> what you could argue is that grouping relative to the rest of tech has a little bit more positioning evaluation and regulatory risk than the rest. this is really a question of to what extent do you want to diversify into broader tech. our opinion is that tech is still effectively like many businesses, the macroeconomic factors, this is an investment cycle still picking up which is going to continue to lean towards tech. that still to just there are legs to run. focusing all your eggs in the faang basket is not the best thing right now. >> is it about putting social media stocks to one side? facebook and twitter plunged after the results. >> these are business models that have not been tested by many cycles. we do not really know how they fare in different economic backdrops. you want to be very careful about how much your overall

the very latest on barclays.t to the bloomberg first word news with taylor riggs. >> president trump may revoke the security clearances of a number of obama era officials who criticized him, among them james comey and john brennan. brennan called the president treasonous last week. a white house spokeswoman says the formal officials have "monetize their public service in security clearances." u.s. congressional negotiators want to hold back the transfer to turkey. house and senate aides say it is part of a compromise defense spending bill. lawmakers at the pentagon need to submit a report for what it would mean. in the u.k., the government wants to make it easier to intervene on national security grounds. authorities expect there will be an increase in intervention on takeovers. the regulations would apply to both foreign and british purchases of u.k. companies. and verizon wants to partner with google or apple when it rolls out the first superfast 5g service in california this year. bloomberg has learned that ve

barclays, no reaction really touch. barclays, no reaction really to the opening in scotland.ivers has been photographed swimming with blue sharks off the cornish coast. diver charles hood took pictures of fellow divers close to blue sharks, just off penzance. swimmers have previously been warned to stay out of the water after another blue shark was spotted in st ives harbour. blue sharks are seasonal visitors to british waters, but it's thought the warm summer weather has led to an increase in the number of sightings. more warm summer weather to come as nick miller can tell us. is it one? i hadn't noticed. the beads of sweat around my upper lip, you will see more of that on weather forecasters' lips. the weather stays across' of uk. hot sunshine across south—east england, sunny spells already, temperatures have broken the 30 degrees mark in some places. feeling fresher and cloudy skies we re feeling fresher and cloudy skies were some in scotland and northern ireland as the weather front moves to revere. different air masses, different types of air coming into the uk as we sta

what scenarios has barclays factored in right now? are all over the place, whether we are going to see 34 billion of chinese goods, or the 500 billion president trump has threatened. indeed. our view has been president trump's threats on tariffs on china could well be credible. we published a report on the 20th of june right after his $400 billion threat about the timeline for this to happen. we do see if you risk scenarios. few risk scenarios. we see a 30 basis point downward pressure on chinese growth in q3 and q4. that could drag the overall europe gdp growth down to 6.5%. that is assuming the chinese government would continue on using monetary-- policy, but using fiscal policy to support infrastructure investment and to offset the currently downward trend in growth. we have a worst-case scenario which we could discuss next week. tell us more about, what can china do when it comes to policy support? everyone thinks they are committed to maintaining that 6.5% growth target. what is the risk china will revert back to old playbook's,

barclays report saying the obvious implication is the red stone family could get more negotiating leverage of course i want to note here that via come shares moved up 4.5% on the news melissa back to you. >> thank you jewely. more on this btig rich greenfield joins us. great to have you with us. >> thanks for having me mels aif. >> what do you make of the situation? >> look, we have believed for literally two plus years that. >>> both via come and cbs are too small. and it's been kind of sad watching the rest of the media universe merge and get bigger. you look at just the big news this morning, disney sharmds and fox sharmds approving their megamerger at&t gobble up time warner scripps sell out to discovery. meanwhile less m moonves has been the personal impediment to the merger of via com and cbs. from the standpoint of what needs to happen both need to get bigger unfortunately i don't see a long list of buyers for either company. the best first action and i believed this for some time is to get to get, get bigger themselves and then explore other transactions that could make them bigger

still with us is marvin barth of barclays.s been in a 14 basis point range in the last month. can run house anything to move the needle? marvin: he certainly could. i doubt he will. the key point is markets are still struggling with this economybetween the u.s. is just booming, but on the other side they are worried about the potential impact of the trade war and how that might affect the feds policy path and longer-term growth path. while they are trying to figure out between those two competing issues, that is why we are trading back and forth. i don't think he is really going to change anything on that. he will probably acknowledge that the fed is concerned about some of the increasing escalation around the potential for a trade war but express a lot of confidence in the underlying growth of the economy. nejra: while the 10-year yield has barely dodged, the front end of the curve has moved. address that? i don't think the fed really controls that. the fed controls the front end of the curve. the market will tell them what h

barclays is at least double that.he scale to continue his model of being wealth management, or must they go out and combine? >> i don't think so. i think that trajectory towards becoming a larger wealth manager is established. barclays model is very different. don't forget that he has come in and pivoted the bank towards greater growth in investment banking, a move that is coming under scrutiny. he has an activist shareholder on board who is scrutinizing the shift, and there will be a lot of focus on that in the second quarter with focus on the trading business and how well that is preparing to peers. miniis credit suisse a ubs? >> i would guess they are being seen as similar. i'm not sure mini is the right term. ubs is obviously a lead in terms of wealth management focus. credit suisse is growing rapidly given it is already pretty significant in size. francine: thank you so much. elisa martinuzzi, bloomberg's finance managing editor joining us from london. on thursday, earnings season is in full flow, and we will be

barclays says it will "play a pivotal role" in the bank's "long—term strategic priorities".e according to government estimates. it's claimed it could be enough to meet up to a third of the uk's energy needs thanks to subsidies which have seen the cost offshore electricity generation halve in recnet years. after years spent riding in the shadow of his team—mates, sir bradley wiggins and chris froome, the cardiff—born cyclist geraint thomas could this week become the first welshman to win the tour de france. the team sky rider currently wears the yellow jersey, with team leader and four times winner chris froome in second place. our wales correspondent sian lloyd has been down to thomas's old cycling club — the maindee flyers — and there's little argument there over who they're backing to win... lift the pace up, lift it up, keep together, come on! they're amongst his biggest fans. at the club where it all started for geraint thomas, excitement is building, that perhaps he could bring home the yellow jersey. here, they remember his first taste of victory, and wearing a yellow

barclays says it will "play a pivotal role" in the bank's "long—term, strategic priorities". the uk is set to double in the next decade according to government estimates. it's claimed it could be enough to meet up to a third of the uk's energy needs thanks to subsidies which have seen the cost of offshore electricity generation halve in recent years. as italy has closed its ports to any other ships than its own rescuing migrants in the mediterranean, the western mediterranean route to spain is now the most popular with migrants trying to reach europe. more people have arrived so far this year than in the whole of 2017. setting off from the shores of morocco, many take enormous risks trying to cross to europe on flimsy toy boats. reporting from the strait of gibraltar is our europe correspondent damian grammaticas. it's a desperate risk to take. across one of the world's busiest shipping lanes, in tiny boats, crammed with men, women and children. this is now the main sea route from africa. so every day spanish teams are making up to ten rescues like this. another boat in distr

barclays has announced plans to create up to 2,500 newjobs in glasgow.y and operations teams. barclays is calling it a "flagship project", and scotland's first minister, nicola sturgeon, said it would be "transformational" for glasgow. the head of ukraine's security service has defended a controversial decision to fake the murder of a russianjournalist. two months ago, arkady babchenko, a prominent critic of president putin, pretended to be dead for nearly 2a hours before stunning journalists by walking into a news conference. our kiev correspondentjonah fisher has been piecing together what happened and talking to the key people involved. two months after he was pronounced dead, arkady babchenko is still fearful for his life. you're wearing your disguise. this was the staged picture of the russian journalist that convinced the world that he'd been killed. 20 hours later, to widespread astonishment, he was unveiled alive and well. it had all been an elaborate sting operation by ukraine's security service. for the fake murder, there was of course a fake k

mike thompson is from barclays bank and is part of the government's apprenticeship delivery board.ou getting about university, whether it was from your school or your mum and dad? when i was at school and college, the options seem to be go to university or get a job. the very strong message i got from college was that if you don't go to university, your career will stuff and you will not be as successful as if you had a degree. -- your career will suffer. and what about your parents? not necessarily my parents. they would have been supportive of whatever i choose and they still are today. they have always been very proud. they have always been very proud. the thing about university is, yes, you go and get a degree, but it is also about learning to fend for yourself and to live on a certain amount of money each week, and do your own washing. pretty basic things but there are lots of 18—year—olds who were not able to do that. yes, and i benefited from that aspect of going to university and it was one of the reasons i decided to go because i was very much on the fence about whether i

asin barclay's presidential race enters the final days both sides are turning out in force rallying and dancing in support of their candidates the zanu p.f. the fancy footwork is all for this man and is and. was once mccarthy's right hand man with the ominous nickname of the crocodile he took over when the gobby was forced to resign but has enthusiastic backers from his supporters who called him edi that's not that easy i've come voluntarily to support my president. i want to assure him that i've got your vote come monday after my ex and. my president. may. ease off there is simple revive the economy tackle unemployment and attract foreign investment and that seems enough to get the greens dancing on the pitch. again but in the red corner the movement for democratic change is rallying its support and not just with that dance moves there is a show of strength for the forty year old preacher nelson shot means. that we're going to have gays who are playing this plaza ya i'm going to go food. people out johnston i love going to national because of mine for. everything kerry called for. on t

francine: we have barclays, what are you expecting from them?ubs had bad net new money, flat margins, we expect equities tending to be higher. ubs has very strong equities trading. thaty weak quarter, so might be misleading, but i would expect the numbers to go the right way for most of these banks for this quarter, it can bad is the first quarter, where some of these banks really disappointed in trading. bad, ifnumbers are not you look at the earnings and sales and in the majority of the companies in the u.s. eating, depending a little bit less, i andk -- beating estimates, in japan, a bit less, but if you look at where the credit cycle is in the u.s., that doesn't seem to be in a place that is going to power earnings going forward. not as much as technology or health care. francine: and in europe, they also have an ecb that is staying put for the moment. >> yes, and they have an underlying microenvironment in europe which has this elevated from the momentum we saw in the fourth quarter of last year, but it is still consistent with growth. we t

we are talking to a man from barclays, the chief china economist and director. 6.5% growth target could be at risk given trade tensions. it could be interesting to see her take on what scenarios barclays is pricing in. seems like economist are all over the map whether we will see tariffs on the current $34 billion or could lead up to $500 billion of chinese goods that could be taxed. and what cost will come from china, especially when they are continuing on this deleveraging effort, will that slow given this structural slowdown in the next couple of months? ramy: before that in 45 minutes, we will also the talking about what is happening between china as well as the european union because this week they have their next summit coming up. then we will speak with a bloomberg opinion columnist and a peking university business school associate professor. the premier will be meeting with president donald tusk and jean-claude juncker. one interesting thing is he says china is much more worried than thinkutsiders actually they are. it will be interesting to see his thou

. >> i'm here at the barclay's center of the overwatch league grand finals, 2018 it's insane in here, folks come on, check it out >> this is like the super bowl of overwatch >> how does this compare to watching the celtics against the sixers >> this is way better. this is electric >> holy cow, what are you wiring >> i'm diva. >> what would drive someone to dress up like this >> motivation and love for the character. >> we are in it, we're ready to go >> we are talking, listening, we're in it. >> do you think you have the skills it takes? >> maybe if i work harder and practice more. >> i don't think any company has made the same commitment in resources and talent and capital to ensure this is something truly incredible >> this is changing the landscape for media companies and how people are participating in sports. it was exciting to be here, i better be here next year, i want it all >> i was the only guy there in a tie, but i was having more fun than anybody >> will esports be the next big drivers? >> it's going to be a major driver -- activision is head and shoulders out there. i thi

barclays sing the upside would come if trade tensions were to cool down.the news today that the u.s. and china are in talks. the fact that they want to kind of take steps to cool down some of the rhetoric and a virgin all-out trade war is ultimately becaused for deere they are the number one --ufacturer supplier agricultural supplier in the u.s. benefitld see some should the u.s. and china be able to work something out in terms of trade. david: now they just have to hope those talks actually happen. the drama of children separated from their parents at the southern border continues with the senate judiciary committee today holding hearings on the problem and what's to be done about it. fenwick.e now john welcome back to the program. good to have you here. what do we know about the scope of the problem? as many as 1800 kids were separated originally. how many do we know have been returned already and how many still are separated from their parents? about 700 parents are not currently presented with their children. half of that the administration is saying t

the former trader for barclays was sentenced for five years. has been a massive evacuation in syria that involves more than 7000 people from two syrian pro-government villages that were seized by rebels for three years. in exchange, the syrian government is expected to release a number of the teams insurgents. global news 24 hours a day on-air, and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. i am kailey leinz. caroline: thanks. now, the uncertainty around brexit and changes to the global trading environment are among the key rights of business leaders alike. byrne.t guest is bernard you were in front of irish lawmakers saying the same thing, how do you navigate the geopolitical waters? bernard: thank you. i think the issue we were talking about in the office was the irish economy is doing well and the fundamentals are strong. as a large place in the marketplace, we see domestic strong and the risks of their. external to the economy, it is capable of reading put off by exte

barclay barclays is y enhanced provincials tend to speak in. you've agreed and you said 2155 doesn't do that. if you have any plans to weaken the standards that i mentioned? >> no sir. >> in your testimon testimony de good economic performance in other countries supported exports of manufacturing. one other country you thought that would include the eu, would that include canada and mexico, the others that have good economic performance, would that include china? >> we include all those countries. >> and i know you said that the situation is something congress deals with that you don't deal with that it would appear to me and i just want to get your opinion on this because i value the come it would appear all this stuff about getting out of nafta and putting tariffs on folks and not being at the table was finally signed a is a negative on our economy. would you agree on that? >> i'm going to comment on not any particular policy but in principle, open trading is good. they don't want the countries to have barriers to trade or tariffs in both dir

roman barclay and then tom dumoulin tried but they could not escape the pair from team sky.d the welshman showed his class. if chris froome is still plan a, then this was a brilliant destruction. extending his lead to one minute 39 seconds, team orders may come into play later in the race but for now, thomas is enjoying the ride! drew savage, bbc news. la galaxy striker zlatan ibramhimovic has spoken to bbc sport, his former team manchester united team—mate paul pogba could become one of the world's greatest players but he's not there yet, he says. last season, the french midfielder endured a mixed performance at old trafford — however he was in fine form during the world cup — scoring in the final against croatia. zlatan insists he's shown what he's capable of and doesn't need to prove himself. we should not forget that paul has been playing in the champions league final. the european final with the national team who just won the world cup. the europa league final, he won many titles in italy, and as a young player, he won many trophies with the youth also. what more do you

this week, barclays, credit suisse, and socgen are due to report. is our senior bank analyst, jonathan tyson. still with us is jimmy conway. jonathan, let's start with you. how did last week's earnings go and what you expect for this week? jonathan: last week we saw deutsche pronounced and ubs. i think the, not a great deal from their, so what we are looking forward to the most, french banks take underperformers in the last quarter. exposed to take trading. dollar going the right way. we're looking for capital build and decent trading. guy: it's interesting this morning, europe and a similar situation. they need a steeper yield curve. how different is this quarter relative to last quarter and the previous quarter? we've got a very flat curves. we've seen it everywhere. we got negative rates. how possible is it for earnings to move the dial it won a macro environment looks like it is? /jonathan: it's very hard but if you look at europe, we've got multibillion dollar investments for digitization. the fact we have cleanup, further cost-cutting, we are

barclays is one of the earlier bidders. goldman sachs is probably the most serious contender.oldman sachs. a lot of banks are interested. unicredit of italy. they have all reportedly expressed interest in taking the government's stake. which of course is nearing the end of its multiyear restructuring. a much moreome prospect -- attractive prospect for foreign banks. in many areas including its vast network of small and medium-sized businesses. attractive given the fact that germany is the dominant economy in the eurozone. anna: thank you very much. bloomberg's asia editor. but this recap a we have heard around china since the top of this hour. giving anovernor interview and speaking about currency markets. closely watching recent fluctuations in markets. saying that the effort market volatility is due to u.s. dollar strength and external uncertainties. it's interesting that we see a little bit of a turn lower in the yuan. nothing prophetic. i think that goes back to the fact that they are talking about keeping rates at a stable monetary policy. it will be capped at a mutual ra

the move will double barclays' current workforce in scotland.and sport. under the targets, the whole of the uk will have full—fibre broadband coverage by 2033, replacing the copper wire network. there is more optimism about finances in most households across the uk according to a new survey. slightly higher pay and less of a squeeze from inflation is behind the more positive outlook according to the financial data company ihs markit. its monthly household finance index rose injuly to its second—highest level since december 2016 at 44.6 — up one point sincejune and above its long—run average. joining us now is chris williamson, chief business economist at ihs markit. tell me more about the index and what it shows. ok, so this is a survey of 1500 households. we've been doing the survey for ten years now and the picture we've got for july, so this is one of the first indications we got of how the conneuy indications we got of how the connelly and households have fared injuly, is connelly and households have fared in july, is really connelly and hou

this is the daily news coming to you live from berlin soaring temperatures barclay's as a ball of the arctic circle sweden and is finding its most serious wildfires in decades prompting its government to seek out from other european nations it's time to change to be a plus thanks to an expert on extreme weather. drowning in plot sink we need people in dominican republic fighting to save their coastline from this global scourge. the crimes germany's focal association is heavily under fire fall.

is involved in the jets currently bombing yemen the world's worst humanitarian crisis this time barclays a good sponsor of a private sponsor partly starbucks be a systems unfortunately people probably think that pride was started in tesco they don't know this because of the sponsorship of coles wasn't it yeah tesco they're all there they're all there they're all cashing in the hardest community to challenge is your arm and and you know i people said that's me dan you're protesting that this this this place just leave quite alone and i totally agree it's a very special space for people to come out in but we got to live with integrity and having institutions that be a systems which have not caught people including the l.g.b. to the community's interests at heart because they profit from killing people including queer people they have no place on pride it is evil some people know tesco and these people do national news more than all of you will can be deterred will still will cause them to cause they to this is the fiftieth anniversary of the year after the fiftieth anniversary of the gay l

hans redeker with us of morgan stanley and antonio pascual with barclays.t the underlying vibrancy of the european economy. i saw france gdp a little light, i read a couple reports, it is all rationalized. is there a spirited eu economy? i think it is quite strong when you look at consumption. it is true france was weak but i think there are factors related to the strikes. domestic moneys are strong. look at the labor market -- healthy in the euro area. look at investment and corporate margins. look at the fiscal stimulus coming up in germany, not at the same order of money in the u.s. but relevant and a bit more easing in countries like italy and spain. i think overall when you look at each and every component, it is in pretty good shape. we are worriedts about, and about trade wars and the slow down in china and what trump could do to the euro area which is a lot if it were to -- looking at the euro area growth a bit over 2%. if there is no acceleration in --de wars would be supported by demand, i think. meeting gotmp minimal play in the u.s. versus all o

barclays' mind that papa. you got for and you got matuidi and these are all players that wants to have the ball and can play with it so that's really seen the best of probably yet kenny provide more than he has in this world cup i think with papa it's probably the one player that hasn't completely lived up to what the expectation has been to two his performance he was brilliant two years ago in the years it has for me he hasn't really lived up to that reputation yet he's had really good games he's also had some terrible games. and he's also been in a spell with manchester united where he's not been played because of his poor performances now he still office so much even on his not great days you still office a lot to the team and nice so fortunate to have someone like go in a kind to next to him who cleans everything up so it's a pop as someone who can take chances he can gamble on his position he can still you know he can run about for a bit and stay up high the page he got kind to clean up my friend not many

barclays all these banks are committing massive fraud and of course the biggest impediment to getting that information to the british public was. yeah and the entire system there as the article in the guardian knows ok the guardian this important has anything to write back to that the report has circulated privately among regulators and law enforcement officials for years it has not been made available to the public who chose not to release that's a problem for me doesn't get released to the public well because of all these regulations against that sort of speech where or basically providing information to the peasants that are the public that form of speech in other words if the when they say public they mean peasant member in the u.k. less of that's important yet the subjects so also like look at this tone here's a so-called progressive newspaper called the guardian and they're called that's the left wing of the right wing is the telegraph right well look this is their own sentence written in this article about lloyds and this report released by a kaiser report regular neil mitchell

certain credit and debit cards do not charge fees, and it's true that some banks, including santander, barclayse standards ones. they should be transparent about the charges. but this malaga travel expert says most people do get charged the full fees, so their money simply doesn't go so far. i know for a fact that in malaga you could have several good meals out for the amount that you've effectively given to the bank, on commission. businesses like this pub in malaga are worried they are losing out as well. it has a knock—on effect to me. directly it affects the customer obviously, but the customer becomes aware of that, and then they're less likely to spend here if they know they're going to be charged 3% every time they use their card. everyone needs to get wise to card charges, or you will find a dream holiday can end up with some nightmarish costs. simon gompertz, bbc news, malaga. mps and lords could be sacked, if new plans to deal with allegations of harassment and bullying are approved. the new code of conduct for parliament follows a number of allegations of inappropriate sexual behavio

barclays have one dismissals in lawsuits alleging price rigging.a dismissal from a gold price-fixing case. with our clays, they won a dismissal from a silver price-fixing lawsuit. this goes to the heart of the lawsuits that three of them proposed alleging conspiracies to rig not just silver and gold but also platinum and palladium. an alert both barclays and ubs winning dismissals from price-fixing cases. yvonne: we are counting down to the market open. let's see how futures are setting appear at the moment. we are seeing modest gains across the board with the exception of korea. solid gdp numbers for the second quarter. we will see if that actually figures through here. -- goals through here. reduction inarent the trade tensions overnight. president trump and jean-claude juncker have step act from the brink of a trade worth or that should certainly be dominating the headlines here. looking ahead to the japanese bond market. we are watching the move in the 10 year jgb. plenty more to come. the market open coming up. this is bloomberg. ♪ >> we are l

barclays head of energy markets. this is bloomberg. ♪ alix: happy monday.mmer but there are -- there's lots of news. and nasdaq up futures in positive territory after the nasdaq hit a two-week low on friday. i'm watching dollar yen, also watching euro dollar. it european confidence slipping at a year low. we willar yen is where see the bank of japan drama percolate. it should mean a stronger yen. how much can japan take of that? the curve continuing to steep and. wednesday, and mirrored central, that is how the new shin can affect the curve. mnuchin can affect the curve. david: this week it is the independence turn. m a chandra is here with a recap. emma: big oil drag down the broader market. exxon and chevron missed estimates. 27% lower than predicted. the stock fell about 4% at one point then recovered to close percent off.75 friday. at the end of trading exxon had lost most $10 billion in market value. exxon reported cash flow down almost 40%. all oil majors free cash flow over the past few years. exxon in yellow. it was not enough to cover its stocknds

barclays says the u.k. -- is trying to reinstate full charges against the bank.arges have to do with the 2008 capital raising. a judge in london dismissed the case back in may. if barclays had been convicted then, it could have heard the bank's ability to do business globally. alix: the chinese markets rediscovering an appetite for risk. it is called reflation. policymakers introduced initiatives to stimulate the economy like tax loans, more loans to banks. they are trying to soften the regulation of wealth management products. if you come inside the bloomberg, you can see that dramatic increase in dollar-yuan. you are seeing the fixing moving lower. at the same time, ever since september and in march, gdp starts to roll over. joining me now is jeff currie, goldman sachs global head of commodities research. oil demand will remain robust. goldman express -- expects brent prices to reach $80 a barrel. together,ou put it the weakness in the yuan or the strength or the dot -- in the dollar, rising commodity prices and u.s. rates, the three are not compatible. i like

competitive,y is barclays. so on both ends of the product, they and u.s.ighting for this business. mark: how is deutsche faring given that there have been a number of recent defections by other dealmakers? >> that is the question. it is a little soon to tell. at least in this business, it is something they are holding onto very closely. deutsche did close there often in houston -- their office in houston. the second quarter was also beyond -- sorry, july 25. we will see what the numbers look like. people will want to see revenue holding steady because these are the people bringing in the money. vonnie: great story from you and the team today. thank you. let's check in on first word news with courtney donohoe. courtney co. president trump and angela merkel played nice for the cameras at the nato summit in brussels. the president said the u.s. has a tremendous relationship with germany. merkel says the two countries have been earners. the meeting came after president a pawn ofed germany russia because of energy. pushing ahead with an additional $200 billion

the serious fraud office says it wants to reinstate fraud charges against barclays and barclays bankys bank but said that had the charges been upheld, it could have led to the loss of its banking licence. the sfo says it wants to challenge that decision to drop the charges. norton canes motorway services, on the m6 toll road, has topped the list of england's best pit—stops, with a 100% satisfaction rating. bottom is thurrock on the m25, with just 68% satisfied. the survey, carried out by travel watchdog transport focus, also found that 92% of motorway service station customers were happy with their visits, although just 66% thought that the food and drink on sale was of ‘good value'. football and hot weather helped boost sales at supermarkets by 3.6% in the three months tojuly — with asda, which is in merger talks with sainsbury‘s, the best performing grocer. ka ntar world panel says that sales of beer and other drinks rose to £287 million — a record outside the christmas and easter periods. this won't come as much of a surprise to commuters in london — but train services in the capi

barclays analyst laura lieberman joins us.n equal weight rating fair pepsico with a target of 108. initial thoughts? >> it was a really solid quarter. i think expectations have been pretty muted, given that north america beverages has been struggling and that has been the biggest focus this quarter. and things came in as expected, substantial improvement, fadeaways has been fantastic, in international turned up to get the bottom line results. vonnie: it is interesting because we have seen coca-cola make a bit of a comeback, with a spending on advertising and is suddenly it is a bit of a competitor again. what do they do next? >> it is a big question mark. -- pepsico has been dismissive of coca-cola, saying that this is temporary, it is the result of re-franchising rather than being more about a deep-seated recommitment. to being just beyond core brand koke. -- coke. what i think the management team at texaco should do is focus on the core -- pepsico should do is to focus on the core, but continue with their small brand strateg

barclays introduced vxb to do the same thing. you cannot transfer liquidity in a month or a year.e have been several cases of this. and uwt -- liquidity is harder. you consider see the long side have their volume cut in half. vix etp's can go from trading 75 billion a month to 20 billion the 25 billion next year. julie: thank you so much. vonnie: that is bloomberg's julie hyman an error janis -- and eric balchunas. time for the bloomberg business flash. johnson & johnson will appeal in multibillion dollar verdict. a jury in saint louis ordered them to pay $3.7 billion to women who claimed thetalc problem -- products cause them cancer. walmart is considering a major change in its random credit card business. the world's largest retailer may move its partnership from synchrony to capital one commented oceans on -- negotiations ongoing. that is your latest bloomberg business flash. we will bring you more from the trump-may joint news conference, including trump comments in advance of his meeting with president clinton in helsinki next week. this is bloomberg. ♪ >> vladimir putin dona

barclays today revised the prediction and i don't think it's going to get there, to 5.3% for the quarterour would be a grand slam home run by any proportion. let's get to the important issue here. i've never seen a group of people lie to ports like this. fixed an investigation likega this, that had turned on one presidential candidate like this and abused their power at such a level. lying to fisa judges to spy on americans? we don't have a constitution, sir, if the stands. >> we do have a constitution, we just have to fight to preserve it. benjamin franklin said to a woman right outside of a constitutional conventionti when she said, what have you achieved, and he said, i republic, if you can keep it. we are in that kind of cycle. if i have any complaint about what sarah sanders said today that the president thinks he's going to do in terms of these people, he's not going far enough and he's not being serious enough. i think we ought to have some kind of open reporting on every single person who lied to us about benghazi. i think we ought to have a really serious look at all the differe

barclay barclays is y enhanced provincials tend to speak in. you've agreed and you said 2155 doesn't do that. if you have any plans to weaken the standards that i mentioned? >> no sir. >> in your testimon testimony de good economic performance in other countries supported exports of manufacturing. one other country you thought that would include the eu, would that include canada and mexico, the others that have good economic performance, would that include china? >> we include all those countries. >> and i know you said that the situation is something congress deals with that you don't deal with that it would appear to me and i just want to get your opinion on this because i value the come it would appear all this stuff about getting out of nafta and putting tariffs on folks and not being at the table was finally signed a is a negative on our economy. would you agree on that? >> i'm going to comment on not any particular policy but in principle, open trading is good. they don't want the countries to have barriers to trade or tariffs in both dir

steven stanley, says 4.9 he will be upset because he was the high on the street to barclay's. got quite the wind under their sales, and their forecast, atlanta fed 4.5. hfe, that's the bottom 3.7. what's happening jim o'sullivan, what's happening? the tax cuts seem to be having the affect on the ability of americans to spend consumer spending. extra money out there from government spending. plus, you have a robust economy. there may be also some pretrade stuff going on some pretariff stuff maybe inventory build. maybe extra buying ahead of the tariffs. we'll see what happened. maybe a little inventory give-back. i think the story here for me is that the underlying economy is strong, and maybe from a half to a full point higher than that 2% we had underlying before >> steve, thank you very much. steve liesman. >> trade wars, geopolitical drama. rising interest rates. the market keeps shrugging off the bad news the three big headlines today could be a sign that the wall of worry is forming around the market first double lines, jeffly gundlach says the flattening yield curve coul

barclays, north of 5 we have not seen that in a long time >> wow when is the last time we saw 5 >> holdhave that answer >> sorry >> morgan stanley at 4.7 atlanta fed at 4.5 you can see how strong the report is, the bottom is 3.8 would a big gdp number represent growth in the u.s. or is it a one-off? >> morgan stanley says driving this robust growth is a number of factors that are unlikely to be sustained here are some of those factors a bounce back from q1. that number was lower than the recent trend you have tax cut effects, those could be more permanent on the consumer side. stockpiling ahead of tariffs is a big number in inventories are expected to add 2.2% to this growth number. get rid of that, you're back to this 2.5% gdp growth politically, you can expect superlatives, but the last time we saw north of 4% was q2 and q3q q3 2014. what is interesting about that, you might want to ask -- >> what's interesting about that, steve? >> one thing driving growth is buying soybeans ahead of the tariffs. >> i heard of this channel stuffing people buying a lot of stuff >> in 2016 you had some